Audiovox 2000 Annual Report Download - page 5

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John J. Shalam
Chairman, President & Chief Executive Officer
3
AUDIOVOX
Looking forward, our focus will be on expanding our digital product offerings both domestically and abroad, achieving
higher gross profits and continuing our strong position in CDMA in the North American Market.
Gross profit margins in the major industries we supply are not high. To counter this, we continually address operational
initiatives to keep overhead low and limit risk. In addition to low gross profit margins, the markets in which we operate are
characterized by intense competition and rapidly changing technology. Currently, the country is experiencing a significant
economic slowdown, which will no doubt effect our performance in 2001. All our efforts will be focused on remaining prof-
itable while we increase market share.
Stocks in the telecom sector have been under pressure for the last several months and have probably been hit hardest in
the current stock market. Our stock is trading below book value and we have begun a buy-back program and will continue
to purchase stock as we see fit. Our goals for 2001 are to continue our sales and operational initiatives so that we can
increase shareholder value and see our stock price rise to a level commensurate with our success.
I would like to express my genuine thanks to our management team and all of our employees for their contribution to a
record year and their dedication to our future goals.
Sincerely,