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VOXX International Q3 Profit, Revenues Rise

Shares of VOXX International Corp. (VOXX) surged 30% on Monday extended trading session driven by its strong third-quarter results.

Third-quarter net income was $18.3 million or $0.74 per share, up from $2.2 million or $0.10 per share last year.

Commenting on the results, CEO Pat Lavelle said, "We delivered a very strong third quarter with all segments reporting higher sales and improved bottom-line performance."

Third-quarter sales surged 82.6% to $201.1 million from $110.1 million last year.

Segment wise, consumer electronics sales rose jumped 74% to $139.0 million, while automotive electronics jumped 105.1% to $61.5 million. Biometrics segment sales were $0.3 million, up 148.6% due to higher sales of EXT and NXT products.

VOXX closed Monday's trading at $14.76, up $0.14 or 0.96%, on the Nasdaq. The stock further gained $4.45 or 30.15% in the after-hours trading.

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