Audiovox 1999 Annual Report Download - page 2

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We generally market our products under the well-recognized Audiovox brand name, which we have used for over
35 years. We were a pioneer in the wireless industry, selling our first vehicle-installed wireless telephone in 1984 as a nat-
ural expansion of our automotive aftermarket business. Our extensive distribution network and our long-standing industry
relationships have allowed us to benefit from growing market opportunities in the wireless industry and to exploit niches in
the consumer electronics business. During the third quarter of 1999, we became the third largest seller of wireless products
and the second largest seller of CDMA handsets in North America. CDMA is currently the fastest growing technology in the
wireless industry.
We operate in two primary markets:
Wireless Communications Our Wireless group, a 95% owned subsidiary, accounts for approximately 80% of our
revenue. Audiovox Communications Corp. sells wireless handsets and accessories through Bell Operating Companies,
domestic and international wireless carriers and their agents, independent distributors and retailers.
Mobile and Consumer Electronics Our Electronics group, which accounts for approximately 20% of our revenue,
sells mobile entertainment products, mobile electronics and consumer electronics primarily to mass merchandiser retailers,
specialty retailers, distributors to new car dealers, original equipment manufacturers (OEMs), and the U.S. military.
➣Wireless sales increase 110% as company exceeds $1 Billion
in sales for first time in corporate history.
➣ Wireless handset sales increase 83.2% over fiscal 1998 to
6,067,000.
➣ Sales of digital handsets reach 56% of total ACC handset sales.
➣ ACC ranked number 3 overall and number 2 in CDMA in
North American Markets.
➣ Electronics Division grows by 31%.
➣ Company moves to The Nasdaq Stock Markett.
Completes Secondary offering that increases public
float by 2.3 million shares.
Highlights
OF THE YEAR
Company
PROFILE