Voxx International (NASDAQ:VOXX), a maker of audio equipment, announced that it lost $4.7 million, or 20 cents per share, during the first quarter, versus a profit of $2.5 million, or 11 cents per share, in the same period last year. Earnings were hurt by a patent settlement charge, and costs related to the acquisition of car-audio maker Hirschmann. Revenue increased by 17 percent to $194 million.
Voxx has put a lot of emphasis during the last several years manufacturing OEM equipment for the automotive industry, creating products such as car stereos and key fobs for manufacturers such as Ford (NYSE:F).
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