Boston, MA 10/06/2014 (wallstreetpr) – VOXX International Corp (NASDAQ:VOXX) is scheduled to report its 2Q2015 financial results on October 6, after the market closes. The last time the company reported quarterly earnings it missed estimates. Will the $244 million distributor in automotive and consumer accessories segments pull a surprise this time around? That is what shareholders are waiting to see this week, but it is worth noting that the stock was recently upgraded at Zacks.
The company said it will report earnings in the evening of October 9, but will hold a conference call with analysts and investors to discuss the results in the morning of the following day. VOXX International Corp (NASDAQ:VOXX) will be announcing results for the quarter period ended August 31, 2014, which is its 2Q2015. The last time VOXX reported its quarterly financials things were not very straight.
Tepid results
VOXX International Corp (NASDAQ:VOXX) reported earnings of $0.02 per share for 1Q that was released on July 10. The earnings missed the consensus estimate of $0.06. That was not enough as the company went on to post revenue of $186.90 million that also missed the consensus estimate of $191.40 million. The result in the last quarter not only fell short of the estimates but also came in weaker compared with the previous year. VOXX earned $0.09 in the like quarter in the prior year. Revenue in the last quarter was 3.2% below the figure attained a year earlier.
Stock upgraded
VOXX International Corp (NASDAQ:VOXX) has not seen any recent earnings estimates for the upcoming quarter results. However, analysts on the average expect the company to post earnings of $0.71 per share for the current fiscal year. Analysts at Zacks recently weighed in on the stock, upgrading the stock to “neutral” from “underperform”. They also set a price target of $11.10 on the stock. Shares of VOXX are up more than 35% so far this year.
VOXX International Corp (NASDAQ:VOXX) made a strategic investment of $3 million in iris identify firm, Eyelock, in May this year.
