IBJNews

Klipsch purchase helps fuel Audiovox sales

Back to TopCommentsE-mailPrint

Audiovox Corp.’s purchase of high-end speaker maker Klipsch Group Inc. early this year seems to be paying off for the New York company.

Audiovox President and CEO Pat Lavelle, in announcing the company’s fiscal second-quarter earnings late Tuesday, credited the former Indianapolis firm with helping Audiovox report strong financials.

“Our international operations are performing well, despite weakness in some European countries, and our Klipsch acquisition is meeting plan with a lot of potential to grow in the years ahead,” Lavelle said in a prepared statement.

For the fiscal period ended Aug. 31, Audiovox reported profit of $3.4 million, or 15 cents per share, compared with $600,000, or 3 cents per share, for the same time frame in 2010.

Second-quarter revenue increased 22.5 percent, to $158.3 million.

Sales of electronics accounted for $126.7 million of Audiovox’s total quarterly revenue. The addition of Klipsch had a favorable impact on the division, the company said.

Audiovox paid $166 million in March to buy Klipsch, which became a subsidiary of the company and operates in Indianapolis as a stand-alone operation under the leadership of the previous management team.

Audiovox had sales of $573 million and Klipsch had sales of $169 million in the 12 months ended Nov. 30, the companies said.

Klipsch Group, founded in 1945 by Paul Klipsch, has 210 employees, including 130 in Indianapolis. Its brands include Jamo, Mirage, Energy and Athena.
 


ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Any "Domestic Partner Registry" is subject to significant fraud just like the recent media investigation showing huge problems with the Indiana Sex and Violent Offender Registry.

    What prevents people from claiming benefits from more than one employer for more than one "partner"?

    Don't see the HR department conducting sex & committed relationship audits with home visits?

  2. Words cannot adequated express how riduculous this is. How can anyone go from 8.8 million to 29.2 million (thanks for the $4 gas prices by the way)??

  3. As the city is increasing employee costs, lowering insurance coverages, and completely dropping city/county benefit coverage for employed spouses/kids employed elsewhere, they want to start covering homosexual partners, girl/boy friends, and unemployed room mates?

  4. "At the heart of the change, said Speedway executives, is creating an event that is more friendly toward the track’s corporate partners." What about the fan? For the first time in my 15 years going to the track, I was confined to three small, cramped sections of turn 4 on Pole Day. Not enjoyable. Sponsors banners may generate revenue in the short term, but I don't see IMS/IndyCar doing anything to make the product they are selling more desirable. Sponsors only come where the fans are, so seems to me they have to do something to get more fans in the seats before selling advertising space on the walls. And 220 MPH ain't going to do it!

  5. TV ratings anyone? Name a driver that is not Penske or Ganassi? Ads on the turns? "It's a business..." that is the problem. It's racing and they are ruining it. Tony H. is spinning.

ADVERTISEMENT