I'm surprised shares of VOXX International (NASDAQ:VOXX) gained after its release of fiscal third quarter results on Monday. Actually, 'stunned' might be a better word. When I read the report on Monday night, I assumed another big decline was coming: VOXX missed revenue guidance for the fourth consecutive quarter, the long-touted 360Fly camera disappointed (and had yet another production-related setback), and sales declined year-over-year in all three of the company's reporting segments, even in constant currency.
VOXX jumped at the open, likely because a one-time non-cash gain created the illusion of a bottom-line beat, but still managed to hold gains in a very difficult broad market day. Shares are up another 2% on Thursday as I write
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