VOXX International reported Q2 FY2025 net sales of $92.5M, down 18.6% YoY, while posting net income of $2.4M versus a loss of $11.1M last year. The quarter benefited from $10.5M in combined gains from selling its domestic accessories business and certain trade names. Gross margin declined slightly to 24.5% from 25.2%.Operating expenses decreased 14.3% to $31.8M due to headcount reductions and cost containment measures. The Automotive Electronics segment saw sales drop 25.5% to $26.4M on lower OEM rear seat entertainment and remote start volumes, while Consumer Electronics revenue fell 15.4% to $66.1M primarily from reduced European accessory sales.The company ended the quarter with $3.7M in cash and $45.8M outstanding on its credit facility. Management continues to focus on operational improvements and cost efficiencies while exploring strategic alternatives to maximize shareholder value, including potential sale of the company or its segments. The recent divestments are part of efforts to streamline operations and improve profitability.

VOXX International reported Q2 FY2025 net sales of $92.5M, down 18.6% YoY, while posting net income of $2.4M versus a loss of $11.1M last year. The quarter benefited from $10.5M in combined gains from selling its domestic accessories business and certain trade names. Gross margin declined slightly to 24.5% from 25.2%.Operating expenses decreased 14.3% to $31.8M due to headcount reductions and cost containment measures. The Automotive Electronics segment saw sales drop 25.5% to $26.4M on lower OEM rear seat entertainment and remote start volumes, while Consumer Electronics revenue fell 15.4% to $66.1M primarily from reduced European accessory sales.The company ended the quarter with $3.7M in cash and $45.8M outstanding on its credit facility. Management continues to focus on operational improvements and cost efficiencies while exploring strategic alternatives to maximize shareholder value, including potential sale of the company or its segments. The recent divestments are part of efforts to streamline operations and improve profitability.