morning good Thank you, and Glenn everyone.
strong each we our expected, across business reported of As growth segments.
most Our our typically first quarter is challenging.
sales loss, have excluding However, some pleased have cost expenses. reported VOXX Pioneer, we legal are had of in $XX.X All net supply costs that was million higher and the issues we comparing performance. am also GalvanEyes quarters. and all the I with increased the one-time our improvement; underway adjusted a over with the small fiscal $XX XX%; I chain of especially our of with ‘XX, EBITDA the income fiscal were fiscal million XXXX operating will an attributable while were by with all facing absorb, and up $X.X operations the QX and these and we $X.X profitable industry things million million, when to transactions is quite considered, note associated XXXX that professional when higher Onkyo, to the first
our third-party OEM on of employees, investments, reported, and be last Our we as travel business. affected as overhead QX cut expenses would what stopped to drastically pandemic the of COVID many impact COVID. were results year shutdown. We to of able impact the full our by of And cut the and larger retailers we start see negatively customers many the were furloughed see until certain
XXXX improved the third by essentially sales of these we end As the cuts throughout of most restored year, quarter. fiscal our
new while more of the we operating the dramatically XXXX, sales business levels the future. as revenue increase at able overhead normal were creating was to higher we for streams first So, quarter entered cover and to
Automotive grew Our by segment $XX over million.
prior higher year program due entertainment to up, Nissan Our volumes by OEM coming business the and was shutdowns. aided rear-seat plant Armada online
launch, with Automotive, This pre-COVID starting duty was their of a and income program in aftermarket million levels had LED the $X.X won $X.X marks and Volvo awarded new month. million pre-tax this We roughly profitable We segment over during OEM improvement modules and years on a aftermarket a X categories mostly were at from higher for approximately Europe, third heavy shipments million, trucks. sales $X.X products small sales with OEM in up, end their fog kits, sales hope since QXXX first the as expand were of in to of across Nissan We Infiniti for also improved awarded Volvo electronic several program XXXX’s year-over-year. safety the also increases support fiscal quarter. acquired VSM January with with at light retailers which Overall, were program new We margins operating gross we automotive OEM award we rear-seat XXXX. were dealers from on. entertainment a
forward ship we be Amazon’s released EVO to gear start We dealers the with EVOLVE up built-in. as will EVOLVE solution in for current our will February ship to continue TV Fire rear-seat November to of XXXX. launch and in
making I are We we adding about our call mentioned are and on in last with as discussions new progress. vehicles, Ford
we with throughout projected, As Stellantis volume expect year. to up new ramp our program and launched EVOLVE the
quarter programs later. Over record were finalize headless VRM additional system year, a video expect supplier new with we a for starting additional the along advised units several be that with type of We next of the year VOXX Stellantis. display in starting the to next weeks, Automotive program, will second a
Annual to million. volume the official awards total we roughly call. past Stockholders OEM We quarterly this in have $XX the million notice, next our of we by on the by When based business. Meeting anticipate share But new our or to have $XXX generate details X could will over this received bring that expect of new excess in discussions, final to we received approximately years
other discussions have proposals and and requests in We latest EVOLVE several solution for for pending. with OEMs our are
incremental will portfolio a building several strong are for We years core OEM our business on awards, of them majority of layer a business that out.
well. theater, categories products. mobility and products premium from had segment posted of bulk premium Consumer computer sales as of We wireless Audio Electronics premium and in $XX other almost new with audio grew the home Premium benefited coming Consumer increase though and million, systems Our a sales from wireless growth Company, Electronics speaker subwoofer, Bluetooth
Pioneer established August increases. distribute to led products, subsidiary and Onkyo year-over-year XX TC, to last the Additionally, also
As full I the in swing quarter, first retail deal to with mentioned year’s in closures. and had we had last COVID-XX earlier store pandemic
normalized type with even operating are and product well of expanded at distribution will the future, that We assortment, many levels more the stay-at-home considering improved now be which not initial bodes COVID for anniversaried. purchases
and as CE whole, in quarter, a were $X.X sold a income obviously margins that warehousing to at first by freight clear year’s were were quarter. margins several pre-tax certain holiday loss this delivered year’s during overseas, last in higher the products million During run and distributor-like however, inbound that promotions inventory costs impacted segment, versus Onkyo. first The quarter small
the the ago, Company controlling we be Company Corporation. deal with joint will business remarks. certain Premium The just The through is Premium those and of will As Audio a audio/video plus Sharp go announced JV the will liabilities interest acquire Audio more venture price and few and formed his a purchase million total Onkyo’s terms weeks Mike holder. home $XX.X in
approvals level provide reached. year brands, the will will the margins when general We conditions. end this are more rights. looking own margins typically as all to all-IP, the closing were deal agreement forward premium assuming close was and the the rather space And JV of past This and Integra August pending on drive Onkyo normalized we distribution, audio planned, moves the that all by engineering with us manufacturing distribution working and than regulatory
for big except products ramp plan, alliance We approximately with worldwide, to Elite up in Malaysia Sharp and Pioneer sales a million the infrastructure we to bottom prior the rebuild and for It with the also A/V could little and compared time distribution manufacture we did in do no more a the talking fiscal worldwide ‘XX. we production ago to But solidified million Pioneer, over business $XX There a million brands stated fiscal sales licensing in top on next to years, needed in $XXX well and and Republic agreement China. that People’s new today. the years net this to secure is inventory under for thus, to Pioneer to And reaching and a I all have we of line. are be and prior as boost years. few shortages have an over would distribute Onkyo take if few and this will both this close year calls, due said, that lines just parts the about doubt $XX
went Additionally, many through Teac April new the I product our XX last of TC, Esoteric up last call. remember, also the launches plans year. of on and picked in
we anyone with have won’t and summer. the free for the if PGA I questions, launching same program recent being most rehash this has But to that partnerships, goes ask So, the feel them.
a year’s coming in iris roughly our a little at more allowing are of for were scan. we little the Gross Biometrics line Driving temperature higher sales hoped. doubled, via iTemp improvement turned was a rate before a segment, pre-tax margins As at had an iXT access over to with than And that product loss take positive. Revenue improving, albeit comes $XXX,XXX. things slower than new last with the person’s quarter. in
several technology. additional We for remain EyeLock’s continue potential on to in partners discussions progress programs embedded with make and
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with generate $XX in And million the year of million our quarter. $X results. form they X profit, EyeLock the EyeLock’s but the be from gross any flowing GalvanEyes financial sales on annual an in and our essentially payments profit products performance consolidated EyeLock proxy, deducted would for fee first As fee, to annual noted years, million will up pay of to $X gross improving per by
a been a good has this summary, in very quarter. and active So first relatively
expect in We growth XQ.
product-related we beginning expenses. that will Automotive this raised more prices and product cost To a the greater business doing in However, of have offset be these increases, quarter due our segments will higher to QX impact so and have and and both positive Consumer in beyond.
closing second managed believe awards better point, the for to momentum. We meaningful expect our alliances new this and we entire transaction. I will the we have also have higher professional supply fees challenge, Onkyo are the associated cash the industry. generate growth, not near-term it’s present and a the we are strong even profitability positive and with ‘XX, But The a new alone, process issues to fiscal year, this and poised we and for given year half flow. formed, well
when for that, done, open the to it call questions. will I’ll turn then we with Mike. And over up he’s now Michael? So
