NEW YORK (TheStreet) --Shares of VOXX International Corp. (VOXX) are falling -12.13% to $7.75 in after-hours trading on Thursday following the company's report that its fiscal 2015 first quarter net income was $0.5 million, or 2 cents per diluted share, compared to $2.1 million, or 9 cents per diluted share for the comparable period last year.
The international distributor operating in the automotive, audio, and consumer accessory industries, posted a 3.1% decline in net sales for the most recent quarter to $186.9 million, from $193 million for the fiscal 2014 first quarter.
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Separately, TheStreet Ratings team rates VOXX INTERNATIONAL CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate VOXX INTERNATIONAL CORP (VOXX) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: