Voxx international corporation reports its fiscal 2025 second quarter financial results

Sales through the first half of fiscal 2025 declined ~18%, gross margin increased 120 basis points and operating expenses improved by over 15% company sells its domestic accessory business and select, non-core assets for ~$28 million and completes florida real estate sale transaction in fiscal 2025 third quarter for $20 million restructuring programs generating anticipated savings, and are expected to have a positive impact on fiscal 2025 second half results over $50 million in debt reduction since year-end, bringing total debt to under $20 million as of today, with total net debt under $15 million company continues to execute on its restructuring plan and strengthen its balance sheet, while pursuing strategic alternatives to maximize shareholder value orlando, fla. , oct. 10, 2024 /prnewswire/ -- voxx international corporation (nasdaq: voxx), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, as well as strategic joint ventures including biometrics, today announced its financial results for its fiscal 2025 second quarter and six-months ended august 31, 2024.
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