Audiovox Sees Satellite Radio Sales Dip in Q1

Audiovox reported net sales for its first quarter of $111.3 million, a 23% drop compared to the comparable prior quarter.
The company cited lower than expected satellite radio and portable DVD sales for the dip.
Mobile electronics sales, which represented about three-quarters of net sales, were $83.1 million, a decrease of 10.6%. Audiovox said lower sales of satellite radio products were largely responsible. Additionally, lower sales of mobile video products also impacted sales, as Audiovox no longer sells video-in-a-bag products.
Consumer electronics sales were $28.2 million, a decrease of 45.3%. The company cited significantly lower portable DVD sales for the decline.