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VOXX International profit misses consensus by 76.4% in fiscal Q1

VOXX International Corp. said its normalized net income for the fiscal first quarter ended May 31 amounted to 1 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS fell 84.5% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $348,130, a decline of 84.1% from $2.2 million in the year-earlier period.

The normalized profit margin dropped to 0.2% from 1.1% in the year-earlier period.

Total revenue declined on an annual basis to $186.9 million from $193.0 million, and total operating expenses decreased on an annual basis to $187.3 million from $189.3 million.

Reported net income fell 77.2% on an annual basis to $490,890, or 2 cents per share, from $2.2 million, or 9 cents per share.