HAUPPAUGE, N.Y.-Mobile-phone maker Audiovox Corp. reported net sales of $291 million for the third quarter, compared with $312 million in the same quarter last year, and net income of $1.9 million.
“The telecom sector has been particularly hard hit this year and our wireless subsidiary is no exception,” said John Shalam, the company’s president and chief executive officer. “However, sales in that subsidiary are beginning to pick up and we expect new 3G products to contribute to that recovery.”
The company said it expects to begin shipments of its new 9500 model with a color screen and clamshell design that will support data applications in the fourth quarter.
The company’s stock jumped almost 6 percent after the news to about $7.40 per share.
