said sales and net income for the first fiscal quarter will be lower than expected as a result of the slowdown in cellular sales and the delayed introduction of the CDM 9100.
When Audiovox reported fourth-quarter and fiscal 2000 results, the maker of cellular phones and electronics products said it expected first-quarter sales of $355 million to $365 million. In the year-ago period, Audiovox reported revenue of $340.2 million. The company also projected first-quarter earnings of 18 cents to 21 cents a share. Two analysts polled by
First Call/Thomson Financial
expect Audiovox to earn 19 cents. The company earned 25 cents a share in the year-ago quarter.
The company didn't provide revised guidance in today's release, other than to say the top and bottom line for the first quarter would be below expectations.
The CDM 9100 is a new phone designed to replace the CDM 9000, the company's current flagship model with
. The new phone is now slated for shipment in April.
trading, Audiovox was down 59 cents, or 6%, to $9.22. The company plans to report financial results on Friday.
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