Price | 4.00 | EPS | -2 | |
Shares | 24 | P/E | -2 | |
MCap | 97 | P/FCF | 7 | |
Net Debt | -54 | EBIT | -51 | |
TEV | 43 | TEV/EBIT | -1 | TTM 2019-05-31, in MM, except price, ratios |
10-Q | 2020-08-31 | Filed 2020-10-13 |
10-Q | 2020-05-31 | Filed 2020-07-10 |
10-K | 2020-02-29 | Filed 2020-06-15 |
10-Q | 2019-11-30 | Filed 2020-01-09 |
10-Q | 2019-08-31 | Filed 2019-10-10 |
10-Q | 2019-05-31 | Filed 2019-07-10 |
10-K | 2019-02-28 | Filed 2019-05-14 |
10-Q | 2018-11-30 | Filed 2019-01-09 |
10-Q | 2018-08-31 | Filed 2018-10-10 |
10-Q | 2018-05-31 | Filed 2018-07-10 |
10-K | 2018-02-28 | Filed 2018-05-14 |
10-Q | 2017-11-30 | Filed 2018-01-09 |
10-Q | 2017-08-31 | Filed 2017-10-10 |
10-Q | 2017-05-31 | Filed 2017-07-10 |
10-K | 2017-02-28 | Filed 2017-05-15 |
10-Q | 2016-11-30 | Filed 2017-01-09 |
10-Q | 2016-08-31 | Filed 2016-10-11 |
10-Q | 2016-05-31 | Filed 2016-07-11 |
10-K | 2016-02-29 | Filed 2016-05-16 |
10-Q | 2015-11-30 | Filed 2016-01-11 |
10-Q | 2015-08-31 | Filed 2015-10-13 |
10-Q | 2015-05-31 | Filed 2015-07-09 |
10-K | 2015-02-28 | Filed 2015-05-14 |
10-Q | 2014-11-30 | Filed 2015-01-08 |
10-Q | 2014-08-31 | Filed 2014-10-09 |
10-Q | 2014-05-31 | Filed 2014-07-10 |
10-K | 2014-02-28 | Filed 2014-05-15 |
10-Q | 2013-11-30 | Filed 2014-01-08 |
10-Q | 2013-08-31 | Filed 2013-10-10 |
10-Q | 2013-05-31 | Filed 2013-07-10 |
10-K | 2013-02-28 | Filed 2013-05-15 |
10-Q | 2012-11-30 | Filed 2013-01-09 |
10-Q | 2012-08-31 | Filed 2012-10-10 |
10-Q | 2012-05-31 | Filed 2012-07-10 |
10-K | 2012-02-29 | Filed 2012-05-14 |
10-Q | 2011-11-30 | Filed 2012-01-09 |
10-Q | 2011-08-31 | Filed 2011-10-11 |
10-Q | 2011-05-31 | Filed 2011-07-11 |
10-K | 2011-02-27 | Filed 2011-05-16 |
10-Q | 2010-11-30 | Filed 2011-01-10 |
10-Q | 2010-08-31 | Filed 2010-10-12 |
10-Q | 2010-05-31 | Filed 2010-07-12 |
10-K | 2010-02-28 | Filed 2010-05-14 |
10-Q | 2009-11-30 | Filed 2010-01-11 |
8-K | 2020-11-02 | Other Events |
8-K | 2020-10-12 | Earnings, Other Events, Exhibits |
8-K | 2020-08-17 | Shareholder Vote, Regulation FD, Exhibits |
8-K | 2020-07-10 | Earnings, Other Events, Exhibits |
8-K | 2020-07-06 | Other Events, Exhibits |
8-K | 2020-06-11 | |
8-K | 2020-05-04 | |
8-K | 2020-04-07 | |
8-K | 2020-02-03 | |
8-K | 2020-01-09 | |
8-K | 2019-10-10 | |
8-K | 2019-09-30 | |
8-K | 2019-07-25 | |
8-K | 2019-07-08 | |
8-K | 2019-06-07 | |
8-K | 2019-05-14 | |
8-K | 2019-04-29 | |
8-K | 2019-01-23 | |
8-K | 2019-01-09 | |
8-K | 2018-10-10 | |
8-K | 2018-07-19 | |
8-K | 2018-07-10 | |
8-K | 2018-05-14 | |
8-K | 2018-04-19 | |
8-K | 2018-01-09 |
Part I - Financial Information |
Item 1. Financial Statements |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
Item 3. Quantitative and Qualitative Disclosures About Market Risk |
Item 4. Controls and Procedures |
Part II - Other Information |
Item 1. Legal Proceedings |
Item 1A. Risk Factors |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
Item 6. Exhibits |
EX-31.1 | voxx-ex311_10.htm |
EX-31.2 | voxx-ex312_11.htm |
EX-32.1 | voxx-ex321_9.htm |
EX-32.2 | voxx-ex322_8.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
Assets, Equity
|
Rev, G Profit, Net Income
|
Ops, Inv, Fin
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
(Mark One)
| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended
or
| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission file number:
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) |
| (IRS Employer Identification No.) |
(Address of principal executive offices) |
| (Zip Code) |
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|
( (Registrant's telephone number, including area code) | ||
Securities registered pursuant to Section 12(b) of the Act: | ||
| ||
Title of each class: | Trading Symbol: | Name of Each Exchange on which Registered |
| | |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:
Large accelerated filer | ☐ |
| | ☒ |
Non-accelerated filer | ☐ |
| Smaller reporting company | |
|
|
| Emerging growth company | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes
Number of shares of each class of the issuer's common stock outstanding as of the latest practicable date.
Class |
| As of October 8, 2020 |
Class A Common Stock |
| |
Class B Common Stock |
| |
VOXX International Corporation and Subsidiaries
Table of Contents
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PART I |
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Item 1 |
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| Consolidated Balance Sheets at August 31, 2020 (unaudited) and February 29, 2020 |
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| Unaudited Consolidated Statements of Cash Flows for the Six Months Ended August 31, 2020 and 2019 |
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Item 2 |
| MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
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Item 3 |
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Item 4 |
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PART II |
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Item 1 |
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Item 1A |
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Item 2 |
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Item 6 |
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2
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
VOXX International Corporation and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share and per share data)
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| August 31, 2020 |
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| February 29, 2020 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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Accounts receivable, net |
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Inventory |
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Receivables from vendors |
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Prepaid expenses and other current assets |
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Income tax receivable |
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Total current assets |
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Investment securities |
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Equity investment |
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Property, plant and equipment, net |
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Operating lease, right of use asset |
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Goodwill |
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Intangible assets, net |
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Deferred income tax assets |
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Other assets |
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Total assets |
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Liabilities, Redeemable Equity, and Stockholders' Equity |
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Current liabilities: |
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Accounts payable |
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Accrued expenses and other current liabilities |
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Income taxes payable |
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Accrued sales incentives |
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Contract liabilities, current |
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Current portion of long-term debt |
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Total current liabilities |
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Long-term debt, net of debt issuance costs |
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Finance lease liabilities, less current portion |
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Operating lease liabilities, less current portion |
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Contract liabilities, less current portion |
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Deferred compensation |
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Deferred income tax liabilities |
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Other tax liabilities |
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Other long-term liabilities |
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Total liabilities |
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Commitments and contingencies (see Note 25) |
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Redeemable equity (see Note 8) |
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Stockholders' equity: |
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Preferred stock: |
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Common stock: |
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Class A, $ |
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Class B Convertible, $ |
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Paid-in capital |
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Retained earnings |
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Accumulated other comprehensive loss |
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Less: Treasury stock, at cost, |
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Less: Redeemable equity |
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Total VOXX International Corporation stockholders' equity |
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Non-controlling interest |
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Total stockholders' equity |
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Total liabilities, redeemable equity, and stockholders' equity |
| $ | |
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| $ | |
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See accompanying notes to unaudited consolidated financial statements.
3
VOXX International Corporation and Subsidiaries
Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss)
(In thousands, except share and per share data)
|
| Three months ended August 31, |
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| Six months ended August 31, |
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| 2020 |
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| 2019 |
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| 2020 |
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| 2019 |
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Net sales |
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Cost of sales |
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Gross profit |
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Operating expenses: |
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Selling |
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General and administrative |
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Engineering and technical support |
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Total operating expenses |
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Operating income (loss) |
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Other (expense) income: |
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Interest and bank charges |
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Equity in income of equity investee |
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Investment gain |
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Other, net |
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Total other income, net |
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Income (loss) before income taxes |
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Income tax expense (benefit) |
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Net income (loss) |
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Less: net loss attributable to non-controlling interest |
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Net income (loss) attributable to VOXX International Corporation |
| $ | |
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| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Other comprehensive income (loss): |
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Foreign currency translation adjustments |
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Derivatives designated for hedging |
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Pension plan adjustments |
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Other comprehensive income (loss), net of tax |
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Comprehensive income (loss) attributable to VOXX International Corporation |
| $ | |
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| $ | ( | ) |
| $ | |
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| $ | ( | ) |
Income (loss) per share - basic: Attributable to VOXX International Corporation |
| $ | |
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| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Income (loss) per share - diluted: Attributable to VOXX International Corporation |
| $ | |
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| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
Weighted-average common shares outstanding (basic) |
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Weighted-average common shares outstanding (diluted) |
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See accompanying notes to unaudited consolidated financial statements.
4
VOXX International Corporation and Subsidiaries
Unaudited Consolidated Statements of Stockholders' Equity
For the three and six months ended August 31, 2020 and 2019
(In thousands, except share and per share data)
|
| Class A and Class B Common Stock |
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| Paid-in Capital |
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| Retained Earnings |
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| Accumulated Other Comprehensive Loss |
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| Non- controlling Interests |
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| Treasury Stock |
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| Redeemable Equity |
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| Total Stock- holders' Equity |
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Balances at February 29, 2020 |
| $ | |
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| $ | |
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| $ | |
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| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | |
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Net loss |
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Other comprehensive income, net of tax |
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Stock-based compensation expense |
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Balances at May 31, 2020 |
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Net income (loss) |
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Other comprehensive income, net of tax |
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Settlement of SERP restricted stock units |
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Stock-based compensation expense |
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Balances at August 31, 2020 |
| $ | |
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| $ | |
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| $ | |
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| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
| $ | ( | ) |
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