Audiovox Corporation's XM Smart Digital Adapter Is Selected as Innovations Honoree8 January 2006
LAS VEGAS, and HAUPPAUGE, N.Y., Jan. 5 -- LAS VEGAS CONVENTION CENTER, 2006 CES, Audiovox Booth 11006-10506 -- Audiovox Corporation (Nasdaq: VOXX) today announced their XM Smart Digital Adapter Model XMDRDS100 has been selected as a 2006 CEA Innovations Honoree. Additionally, Audiovox said, the judges awarded the product one of the highest scores in the Vehicle Audio product category, giving it an additional "Best of Innovations" in that category. The announcement was made by Tom Malone, Senior VP, Sales, Audiovox Electronics Corporation. Audiovox's Smart Digital Adaptor, marketed under its Terk brand, connects the in-dash radio to a hideaway XM Direct tuner box. The driver can access all XM functions using a full-feature remote control. The Adaptor offers consumers a universal solution for new and used vehicles that do not have factory- installed XM radios. The patent-pending technology provides a "factory-like" XM installation, leaving the dash and existing car stereo head unit intact. Commenting on the award, Malone said, "We view winning this award for the third year in a row as industry validation of our commitment to developing and marketing high-technology products. We have established Audiovox as the 'number one in market share' in mobile video by providing high quality and solution-savvy products and have taken this philosophy and expanded it to the satellite radio category. The award we won for the XMDRDS100 reinforces our objective to be successful by combining our marketing knowledge with innovative products and aggressive selling programs." Audiovox Corporation is a leading international supplier and value added service provider in the consumer electronics industry. The Company conducts its business through subsidiaries and markets mobile and consumer electronics products both domestically and internationally under several of its own brands. It also functions as an OEM (Original Equipment Manufacturer) supplier to a wide variety of customers, through several distinct distribution channels. Audiovox Electronics Corporation (AEC), the company's wholly owned subsidiary is a recognized leader in the marketing of automotive entertainment, vehicle security and consumer electronics products. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the lines marketed by AEC are its mobile electronics products including mobile video systems, auto sound systems including satellite radio, vehicle security, and consumer electronics products such as portable DVD players, flat-panel TV's, extended range two-way radios, multi media products like MP 3 players, and home and portable stereos. The company markets its products through an extensive distribution network that includes power retailers, 12-volt specialists, mass merchandisers and an OE sales group. The company markets products under the Audiovox, Jensen, Acoustic Research, Advent, Code Alarm, Terk, Vogel's and Prestige brands. For additional information, visit our web site at http://www.audiovox.com. Except for historical information contained herein, statements made in this release that would constitute forward-looking statements may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statement. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to, risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the mobile and consumer electronics businesses as well as the wireless business; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; the possibility that the review of our prior filings by the SEC may result in changes to our financial statements; and the possibility that stockholders or regulatory authorities may initiate proceedings against Audiovox and/or our officers and directors as a result of any restatements. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended November 30, 2004 and Form 10-Q for the fiscal third quarter ended August 31, 2005. Company Contacts Glenn Wiener Melvin Clapman GW Communications Mel Clapman Public Relations Tel: 212-786-6011 Tel: 718-474-2528 or Email: gwiener@GWCco.com or Email: mclapman@mindspring.com
Source: prnewswire
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