HAUPPAUGE, N.Y.—Audiovox Corp. announced last week it revised its previously released results for fiscal year 2001 and has recorded an additional net charge or $1.2 million relating to its wireless inventory as a result of current market conditions.
Net loss was $3.5 million, or 16 cents per basic and diluted share, compared with net income of $5.1 million, or 23 cents per basic and diluted share, during the fourth quarter of 2000. For the fiscal year ended Nov. 30, net loss was $8.2 million, or 38 cents per share, compared with net income of $27.2 million, or $1.27 per basic share and $1.21 per diluted share, for 2000.
Audiovox previously reported net loss of $2.3 million, or 10 cents per share, for the quarter and a loss of $7 million, or 32 cents per share, for the year.
