Premium Audio Company, a division of VOXX International, this week announced two new Pioneer branded A/V receivers – the VSX-835 and the VSX-535 – that they say are feature-packed “Immersive Sound Audio Video Receivers.” Said to be targeted at home theater and gaming enthusiasts, these appear to be the first new Pioneer products for 2024.
Premium Audio Company
Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%
VOXX International Corporation (Voxx) (Nasdaq: VOXX) reported its financial results for the first quarter of fiscal year 2024 and the numbers were not pretty. The first quarter is the period ending on May 31, 2023, and overall net sales n the quarter dropped by -13.1%, with a net loss increase of 65%. The hardest hit segment was the company’s Premium Audio Company division – home of brands like Onkyo, Pioneer, Integra, Elite, and more – which saw sales collapse by -32%.
Learn more about Voxx Intl’s rough first quarter of fiscal 2024
[Read more…] about Voxx Intl 1st Qtr Fiscal ’24 Results Hit Hard; Premium Audio Sales Drop -32%VOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening Losses
VOXX Stock Value Drops Nearly 30%
Yet more evidence of an industrywide downturn emerges, this time from VOXX International’s Fiscal 2023 fourth quarter and full-year results. After claiming that “…we had a lot of positive developments and continued to win new business and expand globally,” Voxx President Pat Lavelle went on to blame “inflation,” “fears of recession,” “the retail environment,” and “supply chain constraints,” for creating “roadblocks” to the company’s performance this year. Roadblocks, indeed…
Learn more on VOXX’s results in Fiscal 2023
[Read more…] about VOXX SHOXX Market with Double-Digit Percentage Sales Declines & Deepening LossesPremium Audio Company Elevates Rob Standley and Lowers Prices
A couple of interesting announcements this week from Premium Audio Company (PAC), the Voxx Int’l subsidiary that markets the company’s premier audio brands such as Klipsch, Onkyo, Integra, Jamo, Pioneer, Elite, and more. First up, Rob Standley gets a big promotion to President of Technology and Product, a big step up. Second, and I would say counter-intuitively, the company says it’s lowering prices on many of its “most popular and best-selling audio solutions.”
Learn more on these latest moves from Premium Audio Company
[Read more…] about Premium Audio Company Elevates Rob Standley and Lowers PricesNew TX-RZ70 Tops the Onkyo Line as Its Flagship Model
On Monday, Premium Audio Company (PAC) announced the launch of the Onkyo TX-RZ70, a flagship audio-video receiver that the company says provides “stellar audio performance” along with “studio-level processing.” As a “flagship,” by definition, this model is at the top of the Onkyo AVR line-up and is being launched just three-and-a-half weeks after the launch of Integra’s flagship model, the DRX-8.4.
See more on this top Onkyo AVR
[Read more…] about New TX-RZ70 Tops the Onkyo Line as Its Flagship ModelVoxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost Cutting
CEO Says Onkyo AVRs Offered to Costco This Year
Citing the “current state of the global economies” and “ongoing supply chain issues” Voxx International (NASDAQ: VOXX) reported the results of their fiscal 2023, third quarter this week and it was a story of more of the same, perhaps intensifying, business challenges that they identified when the company announced its second-quarter results. All of its major business segments reported sales declines – dropping double-digit percentages – with overall sales dropping 25.4% year-over-year. But the company said profits increased on aggressive cost cutting.
Learn more about Voxx Int’l fiscal 2023 third quarter performance
[Read more…] about Voxx Int’l Fiscal 3rd Quarter Sales Drop 25.4%; Profits Up on Cost CuttingVOXX Intl’s Premium Audio Company Says Its COO Has Departed
On Monday, a federal holiday, VOXX International’s Premium Audio Company (PAC) announced that Oscar Bernardo, its Chief Operating Officer, left the company on December 31, 2022. The company says – in this kind of strange, after-the-fact announcement – that Bernardo left to relaunch the Mirage speaker brand. Mirage is owned by VOXX International, which acquired it in 2006.
Learn more about the departure of Premium Audio Company’s COO
[Read more…] about VOXX Intl’s Premium Audio Company Says Its COO Has DepartedVOXX Intl, Owner of Onkyo & Others, Reports Fiscal ’23 Q2 Sales Decline, $11M Net Loss
VOXX International Corporation (NASDAQ: VOXX) announced its financial results for the second quarter of fiscal 2023 this week and they were quite sobering. Not only did revenues decline by double digits, but the company had a dramatic increase in net loss to nearly $11 million.
What went wrong?
See more on VOXX Intl’s fiscal Q2/2023 results
[Read more…] about VOXX Intl, Owner of Onkyo & Others, Reports Fiscal ’23 Q2 Sales Decline, $11M Net LossLayoffs Hit Premium Audio Company as It Right-Sizes Ops; To Skip CEDIA Expo
BREAKING NEWS
Premium Audio Company, a division of VOXX International and operator of brands such as Onkyo, Integra, Pioneer, and Elite, confirmed today that it has instituted a round of layoffs to “right-size” company operations based on current macroeconomic trends. The company has also confirmed that it has decided, for the second year in a row, not to participate in next week’s CEDIA Expo 2022, due to product roadmap cycles.
See more on these Premium Audio Company decisions
[Read more…] about Layoffs Hit Premium Audio Company as It Right-Sizes Ops; To Skip CEDIA ExpoVOXX Int’l Launches E-Commerce Platform Selling Premium Audio Co. Brands
VOXX International Corporation (VOXX), owner of Premium Audio Company (PAC) and many other brands, announced this week that it has launched a new e-commerce platform. This new platform is initially being rolled out at Premium Audio Company – the division that operates brands such as Klipsch, Jamo, Onkyo, Integra, Pioneer, Elite, Magnat, and Heco.