Audiovox 1998 Annual Report Download - page 5

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Quality products have always been a major element in our company’s success. In late 1998 and early 1999, we were
recognized for those quality standards as our Electronics Division achieved QS/ISO 9001 Registration and our wireless
subsidiary was granted ISO 9001 Registration. In addition, two of our joint venture companies also achieved registra-
tions, Audiovox Venezuela for QS/ISO 9001 and Audiovox Specialized Application, Indiana for ISO 9001. These quality
ratings will greatly improve our chances to expand our OEM business with car manufacturers as well as with Bell oper-
ating companies and other service providers. I am very proud of the effort put forth by all of the employees of these
subsidiaries. Achieving registration takes a tremendous amount of commitment and dedication.
Finally 1998 saw a substantial investment in our systems and facilities. We completed a multi-million-dollar upgrade
of our Management Information Systems that addresses Y2K issues and positions us for global growth. In the spring,
our wireless subsidiary occupied a 70,000 square foot state of the art facility that should provide it with ample room to
grow its service capabilities. Our Electronics Division office, which also houses the corporate headquarters, is under-
going a major renovation, which includes the addition of 5,000 square feet of office space for their engineering group.
As I have said in numerous letters before, we operate in a highly competitive marketplace marked by fast changing
technology and continually eroding prices. That said, I believe that 1999 will be a very positive year for Audiovox that
will create strong shareholder value and reward your patience and support.
I believe that 1999 will be a very posi-
tive year for Audiovox that will create
strong shareholder value and reward your
patience and support.
“
“
John J. Shalam
Chairman,
President & CEO