VOXX International (US:VOXX)2021-01-12 15:08Financial Performance - Net sales increased by approximately 83% in Fiscal 2021 Third Quarter[6] - Operating income improved by $18.4 million to reach $18.6 million in Fiscal 2021 Third Quarter[6] - Adjusted EBITDA improved by $18.7 million to reach $24.5 million in Fiscal 2021 Third Quarter[6] - Total Net Sales increased from $293.8 million to $401.1 million for the nine-month period, an increase of $107.3 million[15] - Operating Income improved from a loss of $14.7 million to a profit of $19.4 million for the nine-month period[21] - Adjusted EBITDA improved from $3.9 million to $35.1 million for the nine-month period[24] Segment Performance - Automotive Electronics segment net sales increased by 105.1% in Fiscal 2021 Third Quarter[8] - Consumer Electronics segment net sales increased by 74.0% in Fiscal 2021 Third Quarter[8] - Biometrics segment net sales increased by 148.6% in Fiscal 2021 Third Quarter[8] - Automotive Electronics segment net sales increased by 28.8% for the nine-month period[19] - Consumer Electronics segment net sales increased by 39.7% for the nine-month period[19] - Biometrics segment net sales increased by 76.6% for the nine-month period[19] Strategic Initiatives - The company acquired Directed (DEI) for $11 million in cash plus certain assets and liabilities, expecting to add approximately $50 million in annual sales[39] - Over $400 million in new automotive OEM contracts are mostly incremental business[52] - Klipsch has over 25% total market share in the home audio category in the United States[34] - Klipsch has over 35% total market share in the home audio category in Canada[34]