Voxx, a maker of audio products, released FQ1 (to May 31) revenues which increased by 90.4% year over year increase. The firm’s supply chain activity also expanded, with U.S. seaborne imports up by 52.7% year over year in the three months to May 31 and rising 27.8% versus the same period of 2019, reflecting strong demand in automotive as well as pandemic recovery. The firm has faced cost challenges from the semiconductor shortage and shipping congestion, however, with CEO Patrick Lavelle saying “we instituted the price increases, to offset the raw material chip price increases”. Voxx has...
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