VOXX - Voxx International down 6% after predicting increased supply chain costs and shipping delays

VOXX International (VOXX) -6.2% post-market reported 2022 FQ1 net sales growth of ~90% Y/Y to $137M.Reported net income attributable to VOXX of $2.7M, as compared to a loss of $8.3M a year ago.Sales by segments: Automotive Electronics $42.7M (+146.9% Y/Y) and Consumer Electronics $94.1M (+72.6% Y/Y)Q4 Gross margin declined 90 basis points to 26.8%, driven by lower gross margin within the Consumer Electronics segment.Operating loss was $0.40M, compared to a loss of $8.1M a year ago.Adj. EBITDA increased to $8.3M, compared to a loss of $3.2M a year ago.At the end of the quarter company had cash position of $36.7M, a decrease of $22.7M since the end of last quarter."We expect higher supply chain costs and shipping delays to impact the fiscal second quarter, and we still anticipate growth, but less than initially anticipated," commented Pat Lavelle, President and CEO.  Voxx has raised prices to counteract increasing supply costs.Company says they will enter into

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Voxx International down 6% after predicting increased supply chain costs and shipping delays