9 /PRNewswire-FirstCall/ Five Finger Death Punch -- Audiovox CorporationNasdaq:

9 /PRNewswire-FirstCall/ probes Five Finger Death Punch -- Audiovox lies and alibis examines Corporation(Nasdaq: VOXX).Audiovox Corporation today announced results for its fiscal2009 third quarter and nine months ended November 30, 2008.Net sales for the quarter ended November 30, 2008 were $195.6 million comparedto net sales of $183.6 million reported in the comparable prior year period. Operating income from continuing operations before income taxes were $10.7million in the fiscal 2009 third quarter compared to $6.7 million in thefiscal third quarter last year.Net income for the quarter ended November 30,2008 was $6.5 million or earnings per diluted share of $0.29 compared to netincome of $4.7 million or $0.20 per diluted share in the comparable fiscal2008 period.Patrick Lavelle, President and CEO stated, "We are generally pleased with ourthird quarter performance, especially in light of the continued economicturbulence worldwide.Despite waning consumer confidence and spending and thedifficulties of the automakers, we experienced our highest sales quarter forelectronics and accessories products in our Company's history.Our marginshave increased to target levels and we continue to manage our expensestructure to match anticipated sales.While I believe third quarter resultsare reflective of our efforts to increase distribution and expand our brandpresence, I am also cautious of our near-term outlook given recent reports ofa lackluster holiday season.Economic difficulties will persist over thecoming year but I believe we are well positioned to weather this storm andshould be in a position to show strong growth and profits with newpartnerships in the second half of our next fiscal year."Electronics sales, which include both mobile and consumer electronics were$152.0 million for the quarter ended November 30, 2008, an increase of 9.4%compared to $139.0 million reported in the comparable fiscal 2008 period. This increase is primarily related to new product categories from the RCAAudio/Video acquisition and increases in electronic sales of the Company'soperations in Mexico and Venezuela.This increase was partially offset by theabsence of sales in select categories as the Company discontinuednon-profitable product lines such as portable navigation and flat screentelevisions.Additionally, sales increases were offset by declines in ourmobile, audio/video categories primarily due to the weakening U.S. economy.Accessories sales for the fiscal 2009 third quarter were $43.7 million, adecrease of 2.1% compared to $44.6 million reported in the period endedNovember 30, 2007 and are a result of the overall decline of the U.S economy. This decrease was partially offset by sales generated from the Technuityacquisition in November 2007.For the period ended November 30, 2008, gross margins were 19.9% compared to19.1% during the period ended November 30, 2007.Gross margins werepositively impacted by several factors, including price increases institutedin the second quarter of fiscal 2009 to offset increased warehouse, shipping,warranty and product costs and higher gross margins experienced in theconsumer electronics category.Offsetting this increase were lower sales ofaccessory products, which typically carry higher gross margins than coreelectronics products.The Company reported operating expenses of $27.2 million for the three monthsended November 30, 2008, a decline of $2.1 million or 7.3%, compared to $29.4million reported in the comparable period last year.As a percentage of netsales, operating expenses decreased to 14.0% for the three months endedNovember 30, 2008 from 16.0% in the comparable fiscal 2008 period.Thedecrease in total operating expenses is primarily due to our expense andworkforce reduction programs partially offset by $4.3 million of costs relatedto the acquired Technuity and RCA Audio/Video operations.Core operatingexpenses were down 21.1% in the comparable fiscal third quarters, from $29.1million to $23.0 million.Nine Months ResultsTotal net sales for the nine month period ended November 30, 2008 were $487.4million, an increase of 5.9% compared to net sales of $460.1 million in thenine month period ended November 30, 2007. Electronics sales for the fiscal 2009 nine month period, which represented77.4% of net sales, were $377.4 million, up 10.6% compared to $341.2 million,or 74.2% of net sales in the comparable fiscal 2008 period.This increase wasprimarily due to sales generated from the RCA Audio/Video operations,increases in the electronics sales of the Company's international operationsin Mexico and Venezuela and increases in OEM business.These increases werepartially offset by declines in mobile audio/video product lines as a resultof an overall decline in the U.S.

economy, lower consumer demand forelectronics products and a decline in vehicle sales.Accessories sales, whichrepresented 22.6% of net sales for the nine months ended November 30, 2008were $110.1 million compared to $118.9 million or 25.8% of net sales in theprior year period, a decline of 7.4%.This decrease was primarily due to adecline in demand for consumer electronics products as a result of the overalldecline in the U.S five finger death punch shirt . economy, partially offset by sales generated from theacquired Technuity operations.Gross margins decreased by 100 basis points from 18.8% during the first ninemonths of fiscal 2008 to 17.8% in the first nine months of fiscal 2009.Grossmargins were unfavorably impacted by higher energy costs, transportationexpenses, labor and material costs and foreign exchange increases versus theU.S way of the fist . dollar.To offset these higher costs, the Company implemented priceincreases in the 2009 second fiscal quarter but did not realize the effectuntil the period ended November 30, 2008.Additionally, during the 2009fiscal first quarter, the Company exited the portable navigation business,resulting in a charge of $2.9 million.Excluding the impact of this charge,gross margins for the comparative nine months periods was up slightly.Operating expenses increased $8.1 million or 10.3% to $86.8 million for thenine months ended November 30, 2008, from $78.7 million for the nine monthsended November 30, 2007.The increase in total operating expenses is due toincremental costs of $12.3 million related to the acquired Technuity and RCAAudio/Video operations, higher professional fees, direct labor, and generaland administrative salaries and related benefits, partially offset bydecreased commissions, trade show, travel and entertainment expenses and lowerofficer salaries.Operating expenses for the nine months ended November 30,2007 included a $1.0 million benefit related to a call/put option previouslygranted to certain employees as a result of the call/put liabilitycalculation.As a percentage of net sales, operating expenses increased to 17.8% for thefiscal 2009 nine month period compared to 17.1% in the comparable prior yearperiod.Core operating expenses declined $4.9 million or 6.2% from $78.4million in the fiscal 2008 nine month period to $73.6 million in thecomparable nine month period of fiscal 2009.The Company reported a pre-tax loss from continuing operations of $426,000 forthe nine months ended November 30, 2008.Net loss for the nine month periodended November 30, 2008 was $1.0 million or a loss of $0.04 per diluted sharecompared to net income of $10.6 million or earnings per diluted share of $0.47in the comparable period ended November 30, 2007.Net income for the fiscal2008 period ended November 30, 2007 was favorably impacted by $2.1 million inincome from discontinued operations as a result of a derivative legalsettlement.Conference Call Information The Company will be hosting its conference call on Monday, January 12 at 10:00a.m way of the fist album . EST.Interested parties can participate by visiting,and clicking on the webcast in the Investor Relations section or viateleconference (toll-free number: 800-299-7098; international number:617-801-9715; pass code: 93097657).For those who will be unable toparticipate, a replay will be available approximately one hour after the callhas been completed and will last for one week thereafter (replay number:888-286-8010; international replay number: 617-801-6888; pass code: 53837599).About AudiovoxAudiovox (Nasdaq:VOXX) is a recognized leader in the marketing of automotiveentertainment, vehicle security and remote start systems, consumer electronicsproducts and consumer electronics accessories lies and alibis . The company is number one inmobile video and places in the top ten of almost every category that it sells.

Among the lines marketed by Audiovox are its mobile electronics productsincluding mobile video systems, auto sound systems including satellite radio,vehicle security and remote start systems; consumer electronics products suchas MP3 players, digital camcorders, DVRs, clock radios, portable DVD players,extended range two-way radios, multimedia products like digital picture framesand home and portable stereos; consumer electronics accessories such asindoor/outdoor antennas, connectivity products, headphones, speakers, wirelesssolutions, remote controls, power & surge protectors and media cleaning &storage devices; Energizer-branded products for rechargeable batteries andbattery packs for camcorders, cordless phones, digital cameras and DVDplayers, as well as for power supply systems, automatic voltage regulators andsurge protectors five finger death punch t shirts . The company markets its products through an extensivedistribution network that includes power retailers, 12-volt specialists, massmerchandisers and an OE sales group way of the fist . The company markets products under theAudiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK,Prestige and SURFACE brands way of the fist album . For additional information, visit our Web site at Harbor StatementExcept for historical information contained herein, statements made in thisrelease that would constitute forward-looking statements may involve certainrisks and uncertainties lies and alibis . All forward-looking statements made in this releaseare based on currently available information and the Company assumes noresponsibility to update any such forward-looking statement. The followingfactors, among others, may cause actual results to differ materially from theresults suggested in the forward-looking statements.

The factors include, butare not limited to, risks that may result from changes in the Company'sbusiness operations; our ability to keep pace with technological advances;significant competition in the mobile and consumer electronics businesses aswell as the wireless business; our relationships with key suppliers andcustomers; quality and consumer acceptance of newly introduced products;market volatility; non-availability of product; excess inventory; price andproduct competition; new product introductions; the possibility that thereview of our prior filings by the SEC may result in changes to our financialstatements; and the possibility that stockholders or regulatory authoritiesmay initiate proceedings against Audiovox and/or our officers and directors asa result of any restatements five finger death punch shirts . Risk factors associated with our business,including some of the facts set forth herein, are detailed in the Company'sForm 10-K for the fiscal year ended February 29, 2008 and Form 10-Q for thefiscal third quarter ended November 30, 2008.Tables to FollowAudiovox Corporation and Subsidiaries Consolidated Balance Sheets(In thousands, except per share data)November 30,February 29, 20082008Assets (unaudited)Current assets: Cash and cash equivalents $13,925 $39,341 Accounts receivable, net159,594 112,688 Inventory 149,321 155,748 Receivables from vendors 20,61829,358 Prepaid expenses and other current assets12,58513,780 Deferred income taxes 7,198 7,135 Total current assets363,241 358,050Investment securities8,55915,033Equity investments13,06813,222Property, plant and equipment, net20,61521,550Goodwill29,09823,427Intangible assets 93,797 101,008Deferred income taxes2,128 -Other assets 1,658 746Total assets$532,164$533,036Liabilities and Stockholders' EquityCurrent liabilities: Accounts payable$43,014 $24,433 Accrued expenses and other currentliabilities 34,72838,575 Income taxes payable141 5,335 Accrued sales incentives 12,63310,768 Bank obligations2,018 3,070 Current portion of long-term debt 1,29482 Total current liabilities93,82882,263Long-term debt 5,944 1,621Capital lease obligation 5,551 5,607Deferred compensation3,312 4,406Other tax liabilities4,740 4,566Deferred tax liabilities - 6,057Other long term liabilities4,198 5,003Total liabilities117,573 109,523Commitments and contingenciesStockholders' equity: Series preferred stock, $.01 par value;1,500,000 shares authorized, no sharesissued or outstanding- - Common stock: Class A, $.01 par value; 60,000,000 sharesauthorized, 22,424,992 and 22,414,212 sharesissued,20,604,460 and 20,593,660 shares outstanding at November 30, 2008 andFebruary 29, 2008, respectively224 224 Class B convertible, $.01 par value;10,000,000 shares authorized, 2,260,954shares issued and outstanding at November30, 2008 and February 29, 2008, respectively2222Paid-in capital274,484 274,282Retained earnings 161,532 162,542Accumulated other comprehensive income(3,275)4,847Treasury stock, at cost, 1,819,752 and 1,820,552 shares of Class A common stock at November 30, 2008 and February 29, 2008, respectively(18,396)(18,404)Total stockholders' equity 414,591 423,513Total liabilities and stockholders' equity$532,164$533,036 Audiovox Corporation and SubsidiariesConsolidated Statement of Operations For the Three and Nine Months Ended November 30, 2008 and 2007(In thousands, except per share data)(unaudited) Three Months Ended Nine Months Ended November 30, November 30, 2008200720082007Net sales$195,642$183,563$487,433$460,085Cost of sales 156,684 148,572 400,900 373,431Gross profit 38,95834,99186,53386,654Operating expenses: Selling8,370 9,82826,59826,534 General andadministrative 16,50016,94852,00445,153 Engineering andtechnical support 2,436 2,600 8,219 7,010 Total operatingexpenses 27,30629,37686,82178,697Operating income (loss)11,652 5,615(288)7,957Other income (expense): Interest and bankcharges(453) (723) (1,439) (2,087) Equity in income ofequity investees (484)1,011 926 2,927 Other, net (10)816 375 3,444 Total other income,net(947)1,104(138)4,284Income (loss) from continuing operations before income taxes 10,705 6,719(426) 12,241Income tax expense (benefit)4,180 2,039 582 3,709Net income (loss) from continuing operations 6,525 4,680(1,008)8,532Net income from discontinued operations, net of tax- - - 2,111Net income (loss)$6,525$4,680 ($1,008)$10,643Net income (loss) per common share (basic): From continuingoperations$0.29 $0.20($0.04)$0.38 From discontinuedoperations- - -0.09Net income (loss) per common share (basic)$0.29 $0.20($0.04)$0.47Net income (loss) per common share (diluted): From continuingoperations$0.29 $0.20($0.04)$0.38 From discontinuedoperations- - -0.09Net income (loss) per common share (diluted)$0.29 $0.20($0.04)$0.47Weighted-average common shares outstanding (basic) 22,864,66822,852,78122,858,77722,853,108Weighted-average common shares outstanding (diluted) 22,867,23522,857,35522,858,77722,880,263Contact: Glenn Wiener, GW CommunicationsTel: 212-786-6011 / Email: SOURCEAudiovox CorporationGlenn Wiener, GW Communications, +1-212-786-6011, , forAudiovox Corporation way of the fist . LAS VEGAS (Reuters) - Imagine storing 100 movies in glorious high-definition on a card the size of a postage stamp, then calling them up instantaneously for viewing on your cellphone whenever and wherever you like way of the fist album . EntertainmentThat could happen within five years, according to the SD Association, a trade group that brings together more than 1,100 technology companies from SanDisk Corp to Hewlett-Packard Co and sets interoperable memory card standards.Consumers will be able to store as many as 100 high-definition movies on a stamp-sized memory card and retrieve them with devices such as mobile phones and digital cameras, according to the promoters of the next-generation SD card technology.The first of a new series of "extended capacity" cards, dubbed "SDXC," will be available toward the end of this year en route to an eventual 2 terabytes of onboard storage capacity in less than five years, James Taylor, president of the SD Association, said at the Consumer Electronics Show in Las Vegas.A terabyte equals 1,000 gigabytes lies and alibis . The SD group also encompasses such powerhouses as Panasonic Corp, Toshiba Corp, Nikon Corp and Canon Inc.The SDXC specification, developed by the association, "leapfrogs memory card interface speeds" while retaining the popular SD interface, the association said. Specifications for the open standard will be released in the first quarter of 2009.The first such cards are likely to provide 64 gigabytes of storage, twice the maximum in existing SDHC memory cards, Taylor said in an interview.Even at early capacity levels, he said the SDXC standard would enhance the operation of digital cameras and camcorders.

The association says the cards ultimately will turn mobile phones into full-fledged media centers, thanks to faster transfer speeds and huge capacity.At its maximum 2 terabyte capacity, an SDXC memory card will store an estimated 100 high-definition movies, 480 hours of professional quality audio recording or 136,000 fine-mode photos, the trade group said.SD cards account for nearly 80 percent of the memory card market, according to the association, which predicts the so-called "flash" memory markets will grow tremendously in coming years . Such storage devices use no moving parts, curbing the drain on batteries in handheld gizmos."The SD interface already has proven itself valuable in mobile phones way of the fist . Now, SDXC memory card capabilities will spur further handset sophistication and boost consumer content demand," Taylor said.Shigeto Kanda, general manager at Canon, said in a statement that the new specification, which retains the existing shape and size of SD memory cards, will help consumers realize the full potential of Canon cameras."Improvements in interface speed allow further increases in continuous shooting speed and higher resolution movie recordings," Kanda said.(Editing by Edwin Chan and Gerald E way of the fist album . McCormick)(To read more about our entertainment news, visit our blog "Fan Fare" online at blogs.reuters /fanfare/) Entertainment .