HAUPPAUGE, N.Y.-Audiovox Corp., the parent company of mobile handset supplier Audiovox Communications Corp., announced results for its fiscal second quarter and six months ended May 31.
Net sales for the second fiscal quarter were $304.6 million, compared with $276.8 million for the same time last year. The company reported net earnings of $4.45 million, or 20 cents per share, compared with a net loss of $8.26 million, or 38 cents per share, for the second fiscal quarter 2001.
For the six months ended May 31, net sales were $493.2 million versus $605.1 million for the comparable time last year. Audiovox experienced a net gain of $505,000, or 2 cents per share, compared with a net loss of $5.7 million, or 26 cents per share, for the six months ended May 31, 2001.
“Sales in our operating subsidiaries showed improvement in the second quarter. Both subsidiaries introduced new products that were met with positive response from the customer base. We continue to anticipate sales and profits to improve over the third and fourth quarters and for new products in both the wireless and consumer electronics companies to fuel that improvement,” said John J. Shalam, chairman and chief executive officer of Audiovox Corp.
