Revenue during the quarter grew 3.34 percent to $198.94 million from $192.51 million in the previous year period. Gross margin for the quarter expanded 25 basis points over the previous year period to 29.26 percent. Total expenses were 96.33 percent of quarterly revenues, down from 98.14 percent for the same period last year. This has led to an improvement of 181 basis points in operating margin to 3.67 percent.

Operating income for the quarter was $7.31 million, compared with $3.58 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $15.49 million compared with $13.14 million in the prior year period. At the same time, adjusted EBITDA margin improved 96 basis points in the quarter to 7.79 percent from 6.83 percent in the last year period.

Pat Lavelle, president and chief executive officer of VOXX International, commented, “We had a relatively strong fiscal third quarter, as our net sales, gross margins and expenses all improved year-over-year. We reported a $3.7 million increase in operating income and Adjusted EBITDA improved by $2.4 million. Driving much of this improvement was our Premium Audio segment. The investments we made throughout last year to enhance our line-up and expand into new categories are paying off, and with a few quarters of growth behind us, we believe this is a trend that should continue. Lower Automotive segment sales were anticipated, due primarily to changes in the aftermarket and lower domestic OEM sales. Internationally, our OEM business remains strong and we continue to win new OEM contracts. Similarly, our Consumer Accessories segment should be aided by new products introduced in the second and third quarters and many of the products we introduced last week at the Consumer Electronics Show. We believe we’re better positioned to show improved top- and bottom-line performance in the year ahead.”