HAUPPAUGE, N.Y.-Electronics company Audiovox Corp. reported first-quarter net sales of $376.9 million, an increase of 27 percent from the $296.8 million it reported in the same quarter a year ago. The company’s mobile-phone business, Audiovox Communications Corp. (ACC), posted net sales of $240.3 million, an increase of 11 percent from the $216.6 million it reported in the same quarter a year ago. ACC reported slightly increased phone sales of 1.26 million units.
“On the wireless front, demand for our newer digital products remained strong, and we continued to strengthen relationships with the leading CDMA carriers in North America,” said John Shalam, chairman, president and chief executive officer of Audiovox Corp.
Audiovox said it would not hold its quarterly conference call due to negotiations over the sale of its ACC mobile-phone business to Curitel Communications Inc., which the company first announced in February. Audiovox Corp. said it must also consider all proposals submitted, and that “due to the ongoing negotiations and the material impact a potential sale might have on the company’s operations,” it would postpone its conference call.
