October 14, 2015 -
VOXX International reported that the company’s revenue for the second quarter for 2015 came in at $154.2 million, which is slightly below its previous consensus estimate of $159.54 million.
The company reported that its second quarter sales are about $5 million below its forecast of $158-$160 million while its gross margins were in-line.
The company’s recent acquisition of biometrics firm EyeLock puts VOXX in a position where it can capitalize in a rapidly expanding industry, as biometric authentication continues to become a prevalent component in smart devices, laptops, applications and access security products.
“All in all, the business is progressing as we anticipated and we have a number of exciting programs and new product introductions on the horizon which will position us well,” said Pat Lavelle, president and CEO of VOX Int’l. “We look forward to providing investors with updates on our progress in the coming quarters.”