Voxx to Delay 3Q Earnings Amid Gentex Merger Review

Dow Jones

01-11

By Katherine Hamilton

Voxx International said Friday it will delay releasing its third-quarter earnings because it is unable to give a fair assessment due to significant changes in finances.

The Orlando-based electronics company said it is delaying the report, which was scheduled for Jan. 14, because of its merger with Gentex and an ongoing review of the deal.

Voxx entered into an agreement on Dec. 17 to be acquired by Gentex, an automotive electronics company based in Zeeland, Mich. On Monday, Louisiana's former Attorney General Charles Foti initiated an investigation into the proposed sale. The investigation is looking into whether the $7.50 per share that shareholders are set to receive as part of the transaction is a fair value. Voxx said it is necessary to test its goodwill, other intangible assets, and other long-lived assets for impairment as a result of the deal.

Voxx anticipates a significant change in the results of operations for the third quarter, it said in Friday's filing.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 10, 2025 16:32 ET (21:32 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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