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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): December 30, 2008
AUDIOVOX
CORPORATION
(Exact
name of registrant as specified in its charter)
|
Delaware
|
0-28839
|
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number
|
|
13-1964841
|
|
(I.R.S.
Employer Identification No.)
|
|
180
Marcus Blvd., Hauppauge, New York
|
11788
|
|
|
(Address
of principal executive officers)
|
(Zip
Code)
|
Registrant's
telephone number, including area code (631) 231-7750
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of file following
provisions:
[
] Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)
[
] Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[
] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(e))
Item
8.01 Other
Events.
On December 30, 2008, the Company
issued a press release announcing that it had reached an agreement in principle
with Sirius XM Satellite Radio whereby Audiovox would become the primary
supplier of Sirius satellite radio products to the North American
aftermarket. A copy of the release is furnished herewith as Exhibit
99.1.
The information furnished under Item
8.01, including Exhibit 99.1, shall not be deemed to be filed for
the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, and will not
be incorporated by reference into
any registration statement filed under
the Securities Act of 1933, as amended, unless
specifically identified therein as being incorporated therein by
reference.
Exhibits
Exhibit
No. Description
99.1 Press
Release, dated December 30, 2008, relating to Audiovox Corporation's agreement
with Sirius (furnished herewith).
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
AUDIOVOX CORPORATON
(Registrant)
Date:
December 30,
2008 ___________________________________
Charles M. Stoehr
Senior Vice President and
Chief Financial Officer
Audiovox
to Expand its Satellite Radio Footprint Through New Hardware and Distribution
Agreement with SIRIUS XM Satellite Radio
HAUPPAGUE,
N.Y., Dec 30, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Audiovox to
become the #1 supplier of aftermarket satellite radio products
Audiovox
Corporation (Nasdaq: VOXX). Audiovox Corporation today announced that it has
reached an agreement in principle with SIRIUS XM Satellite Radio (Nasdaq: SIRI),
whereby the Company will become the principal supplier of SIRIUS satellite radio
products to the North American aftermarket, providing products to the major U.S.
retailers. The agreement is subject to the completion of a final distribution
agreement under which Audiovox will provide warehousing, distribution, logistics
and related services for SIRIUS XM with respect to both SIRIUS and XM
products.
This new
agreement is in addition to the existing Master License Agreement that Audiovox
has for XM products, which was entered into by Audiovox and XM in
2005.
Patrick
Lavelle, President and CEO of Audiovox stated, "This is yet another major
milestone for our Company as it further strengthens our leading position in the
satellite radio category. Despite the current economic climate, satellite radio
is still growing and we believe it will continue to be a prominent form of
consumer entertainment. With this agreement, we expect our satellite radio sales
to more than double next year with limited exposure. We look forward to
partnering with SIRIUS XM in this next phase of their corporate
evolution."
About
Audiovox
Audiovox
(Nasdaq: VOXX) is a recognized leader in the marketing of automotive
entertainment, vehicle security and remote start systems, consumer electronics
products and consumer electronics accessories. 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 Audiovox are its mobile electronics products
including mobile video systems, auto sound systems including satellite radio,
vehicle security and remote start systems; consumer electronics products such as
MP3 players, digital camcorders, DVRs, clock radios, portable DVD players,
portable GPS, flat-panel TVs, extended range two-way radios, multimedia products
like digital picture frames and home and portable stereos; consumer electronics
accessories such as indoor/outdoor antennas, connectivity products, headphones,
speakers, wireless solutions, remote controls, power & surge protectors and
media cleaning & storage devices; Energizer-branded products for
rechargeable batteries and battery packs for camcorders, cordless phones,
digital cameras and DVD players, as well as for power supply systems, automatic
voltage regulators and surge protectors. 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, RCA, Jensen, Acoustic Research, Energizer, Advent,
Code Alarm, TERK, Prestige and SURFACE brands. For additional information, visit
our Web site at www.audiovox.com.
Safe
Harbor Statement
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 February 29, 2008 and Form
10-Q for the fiscal second quarter ended August 31, 2008.
Audiovox
Contact:
GW
Communications
Glen
Wiener, Tel: 212-786-6011
Email:
gwiener@GWCco.com
SOURCE
Audiovox Corporation
http://www.audiovox.com