VOXX - VOXX International slips 16% post Q4 results

VOXX International ([[VOXX]] -16.8%) reported Q4 net sales growth of ~61% Y/Y to $162.52M, and FY21 sales growth of ~43% Y/Y to $536.61M.Reported net income of $8.48M, as compared to loss of $33.65M a year ago.Sales by segments: Automotive Electronics $52.5M (+89.7% Y/Y); Consumer Electronics $109.7M (+50.1% Y/Y); and Biometrics of $0.1M.Q4 Gross margin declined by 215 bps to 26.1%, driven by lower gross margin within the Consumer Electronics segment.Operating income was $3.89M, compared to loss of $35M a year ago.Adj. EBITDA increased to $11.86M, from $1.63M a year ago; and margin expanded by 570 bps to 7.3%.At the end of the quarter company had cash position of $59.4M, an increase of $22M year-over-year.Company says they made two strategic acquisitions to strengthen their automotive business and have been awarded over $400M in new OEM awards, many of which are the result of alliance with Amazon to bring Fire TV to the automotive markets, and

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VOXX International slips 16% post Q4 results