VOXX International Corporation announced consolidated earnings results for the fourth quarter and full year ended February 28, 2018. For the quarter, the company reported net sales of $122,236,000 against $124,894,000 a year ago. Operating loss was $4,985,000 against $3,707,000 a year ago. Loss from continuing operations before income taxes was $4,518,000 against $4,423,000 a year ago. Net income attributable to company was $12,585,000 or $0.51 per diluted share compared to loss of $90,000 or $0.00 per diluted share a year ago. EBITDA was $943,000 against $7,962,000 a year ago. Adjusted EBITDA was $1,050,000 against $8,147,000 a year ago. Diluted adjusted EBITDA per common share were $0.04 compared to $0.34 a year ago.

For the year, the company reported net sales of $507,092,000 against $514,530,000 a year ago. Operating loss was $19,099,000 against $8,168,000 a year ago. Loss from continuing operations before income taxes was $24,104,000 against $8,930,000 a year ago. Net income attributable to company was $35,304,000 or $1.44 per diluted share compared to $4,422,000 or $0.18 per diluted share a year ago. EBITDA was $41,090,000 against $30,105,000 a year ago. Adjusted EBITDA was $10,726,000 against $30,858,000 a year ago. Diluted adjusted EBITDA per common share were $0.44 compared to $1.28 a year ago. Total debt as of year-end was just under $19 million from primarily mortgages on facilities, an improvement of over $91 million.

The company expects effective tax rate to differ from the current 21% corporate rate for the fiscal 2019.