Audiovox has recently released their 1st fiscal quarter earnings, showing a solid turnout from last year's financial position. Despite some shortcomings this year, they have managed to increase their net sales about 15.2% this year, including a huge 743.8% increase in accessories sales. Much of this is due to their recent acquisition of Thomson and Oehlbach, an accessories specialist. Their operating expenses has seen an increase this year, however, with a 22.9% increase from last year. This increase in expenses should pay itself off soon, according to Patrick Lavelle, President and CEO of Audiovox. Audiovox hopes to push much of its accessories line during this transitional period into a new alignment format. Because of higher operational costs this quarter due to transition expenses, we should be seeing Audiovox improving their financial conditions very shortly.
