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Harman Hits Voxx Int’l & Klipsch Group with Major 13-Count Lawsuit

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Cover page of Harman v. Voxx and Klipsch

Something tells me these companies – Harman International Industries, Inc. and Voxx International Corp/Klipsch Group, Inc. aren’t going to be friends…or even friendly. I have learned that Harman has filed a significant 13-count patent infringement lawsuit against Voxx/Klipsch for copying its patented JBL PartyBox line in the creation of the Klipsch Gig XXL party speaker line.

Harman says Voxx/Klipsch continued its allegedly unlawful actions even after being notified of the infringement by Harman back in the fall of 2023.

Learn all about Harman v. Voxx et al…

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Gentex, Owner of Onkyo & Klipsch, Reports 1Q/2025 Results; Sales & Profits Declined

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Gentex CES 2025 booth

Gentex Corporation (Nasdaq: GNTX), the new owner of Voxx, Premium Audio Company, Onkyo, Integra, and Klipsch reported the financial results for its first quarter of fiscal 2025 – the period that ended on March 31, 2025. Note that these results do not include the Voxx et. al. acquisition in its numbers, as that merger did not close until April 1, 2025. Gentex reported declines in sales, gross profit dollars, income from operations, and net income.

And all that happened before the new tariffs launched by the Trump administration took effect in full force.

Learn more about the Gentex results in the first quarter of 2025…

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Gentex Closes on Acquisition of Voxx International Corp

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Gentex image from website

Embarks on a New Era of ‘Transformation’

On Monday, March 31, 2025, Voxx International Corp. held a special meeting of stockholders who voted “overwhelmingly” in favor of the final closing of its acquisition by auto parts maker Gentex. According to an announcement by the company, “With all regulatory and stockholder approval obtained and all closing conditions met” the transaction is now closed and Gentex now owns Voxx lock, stock, and barrel.

See more on Gentex closing the deal to acquire Voxx…

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Voxx Drops Another 18.6% in Sales; Smaller Company Seeks More Profits & Less Debt

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Voxx reports Fiscal 2025 Q2 results

Onkyo, Integra, and Klipsch Owner Stops Bleeding in Profits But Not Sales

Voxx International Corporation (Nasdaq: VOXX) announced the financial results for its second quarter and first half of Fiscal 2025 on Thursday after the close of markets. The company, which is in the middle of a major transformation of its business, hailed the results in which it has dramatically cut the level of its total and net debt, and finished with a small net income after several quarters of net losses.

But these positive results were generated at the expense of net sales which continue to decline.

See more on the results of the second quarter for Voxx

[Read more…] about Voxx Drops Another 18.6% in Sales; Smaller Company Seeks More Profits & Less Debt

Voxx Fiscal 2024 Annual Shareholders Meeting – More Restructuring, Disposal of Brands Ahead

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Investor Relations page on Voxx website

On Tuesday, Voxx International Corporation (Nasdaq: VOXX) held its annual shareholders meeting, closing out a tough Fiscal 2024 with declining sales (down 12.2%) and deepening net losses (up over 53%). Sounding a little defensive, Ari M. Shalam, the company’s Co-Vice Chairman of the Board and son of company founder John J. Shalam, promised investors more restructuring and said the company will shed assets, including some of its previous brand acquisitions, to generate cash to lower debt and prepare the company for healthier growth ahead.

See more on the remarkable Voxx Annual Shareholders Meeting

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VOXX Fiscal 2024 Results Reveal 2nd Year of Deteriorating Sales & Deepening Losses

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VOXX headquarters

Value of VOXX Stock Drops 23.9%…Hits New 52-Week Lows

After markets closed on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 fourth quarter and full-year financial results for the period ending February 29, 2024…and it wasn’t a pretty picture. Net sales in Fiscal 2024 were down a double-digit percentage at 12.2% and the company’s Net Loss ballooned to an eye-popping $45.6 million.

What can investors expect in Fiscal 2025 from Voxx? At best, flat sales but the company is hoping to engage in a protracted restructuring process to try and reattain profitability.

See more on the VOXX report of financial performance in fiscal 2024

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VOXX Reports Fiscal ’24 Q3 Results, Cites a ‘Slowing’ Economy & ‘Continued Softness’

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New VOXX product, the Klipsch Flexux powered by Onkyo

VOXX Stock Loses Over 12% of Its Value the Next Trading Day

After the close of markets on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 third-quarter financial results for the period ending November 30, 2023. Citing continued challenging macroeconomic conditions in 2023, the company reported that its third-quarter sales declined 5.4% and net income dropped 74.3%. CEO Pat Lavelle, who was participating in an analyst conference call on its earnings by phoning in from CES 2024, started his presentation somberly, saying to analysts that, “2023 has been tough for everyone, not just Voxx. Our entire industry has had a very challenging year.”

Learn more from the VOXX fiscal ’24 3rd quarter earnings report

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Oh-Oh: Deadline for Onkyo & VOXX Agreement Passes with No Deal

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Onkyo web page
From Onkyo’s website…

BREAKING NEWS

Oh-oh! I thought today I would be confirming that the VOXX/Sharp/Onkyo definitive agreement – which was supposed to be concluded today, May 20, 2021 – was in fact fully executed as directed in the original tentative agreement. But instead, I have learned that the definitive agreement for this sale was NOT in fact signed today, as dictated in the preliminary agreement. Now what?

Is There Trouble in Osaka for Onkyo?

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Trying to Avert Disaster, Onkyo Signs Preliminary Deal to Sell to Voxx/Sharp

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Onkyo system on display in Japan
Onkyo system on display in Japan
[PHOTO: The Nikkei]

I can’t say this news from Onkyo Home Entertainment comes as much of a surprise. And based on conversations I’ve had with many of you over the last week or so, my reference a couple of weeks back to the growing romance between Onkyo and Voxx was clearly a wink-nod signal that I saw this coming. Onkyo has signed a preliminary agreement to sell their largest, but not their only, remaining division – the home audio/video division – to a partnership consisting of Sharp Corp. and Voxx Intl. The deal includes the Onkyo, Integra, Pioneer, and Pioneer Elite brands.

But after the abject failure of three previous attempts to sell the troubled company, will this deal actually close? See my thoughts…

Will deal between Onkyo and VOXX/Sharp close?

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Making Space for Onkyo Brands, Voxx Announces Subsidiary Reorganization

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Voxx International logo

Voxx Expects Big Growth; That May Be a Bigger Challenge Than Anticipated

As part of an internal restructuring to accommodate their recent acquisition of the distribution rights to certain Onkyo brands, Voxx International Corporation announced this week that it has renamed the existing Klipsch Holding LLC to the rather generically named Premium Audio Company LLC. This is just the first change, as I’ve learned more announcements are just around the corner.

See more on the Voxx & Klipsch plans for Onkyo…

[Read more…] about Making Space for Onkyo Brands, Voxx Announces Subsidiary Reorganization