UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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):     June 6, 2003



                              AUDIOVOX CORPORATION
             (Exact name of registrant as specified in its charter)



DELAWARE                             1-9532                  13-1964841
(State or other jurisdiction      (Commission       (IRS Employer Identification
 of Incorporation)                File Number)                 Number)




150 Marcus Boulevard, Hauppauge, New York                       11788
(Address of principal executive offices)                       (Zip Code)



Registrant's telephone number, including area code:           (631) 231-7750



                                      NONE
          (Former name or former address, if changed since last report)






                             Exhibit Index on Page 4

                                    Page 1 of 4

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits. Exhibit No. Description 99.1 Press Release, dated June 6, 2003 ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On June 6, 2003, Audiovox Corporation issued a press release reporting first quarter 2003 results. A copy of the press release is attached hereto as Exhibit 99.1, and is incorporated by reference in its entirety Exhibit Index on Page 4 Page 2 of 4

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AUDIOVOX CORPORATION Dated: June 6, 2003 By:s/Charles M. Stoehr ------------------------------------- Charles M. Stoehr Senior Vice President and Chief Financial Officer Exhibit Index on Page 4 Page 3 of 4

EXHIBIT INDEX Exhibit No. Description 99.1 Press Release, dated June 6, 2003 announcing results for first quarter 2003. Exhibit Index on Page 4 Page 4 of 4







FOR IMMEDIATE RELEASE

                 AUDIOVOX CORPORATION REPORTS FIRST QUARTER 2003

     o    Q1 '03 Net  Income  of $1.2  million  vs.  Q1 '02 Net  Loss of  ($5.3)
          million
     o    Company sets conference call for June 9, 2003 at 10:00 AM
     o    Annual meeting set for July 24, 2003

Hauppauge,  NY, June 6, 2003 . . . Audiovox  Corporation  (Nasdaq:  VOXXE) today
announced  that it has filed its Form 10-Q for the three months  ended  February
28, 2003 with the Securities  and Exchange  Commission  (SEC).  The Company will
discuss these results during the previously scheduled conference call on June 9,
2003 at 10:00 AM (EST).  The Company  intends to request that Nasdaq  remove the
"E" on its trading symbol, subject to Nasdaq's requirement that the Company file
its Form 10-Q for the quarter ended May 31, 2003 on or before July 15, 2003.

Net sales for the first  quarter of fiscal 2003 were $296.8  million vs.  $184.3
million in the first  quarter  2002.  Net sales for the first  quarter of fiscal
2003 for  Audiovox  Communications  Corp (ACC) were $216.6  million  vs.  $113.0
million for the first  quarter of 2002.  ACC sold 1.2 million  total units at an
average  selling  price of $171 during the first  quarter of 2003.  Fiscal first
quarter net sales for Audiovox  Electronics  Corp.  (AEC) were $80.3 million vs.
net sales of $71.3 million in the first quarter of 2002.

Net income and income per  common  share for the  quarter  were $1.2  million or
$0.06 per share basic and $0.05 diluted compared to a net loss of ($5.3) million
or ($0.24) per share basic and diluted in the first quarter 2002.

John J. Shalam,  Chairman commented on the quarter's  results,  "I am pleased to
report that sales in both our operating  subsidiaries increased during the first
quarter and the company returned to profitability. In wireless, the market began
to show some improvement as products with new consumer  friendly  features began
delivery.  The CDM 9500,  9155 and 8500 with  their  higher  selling  prices all
contributed to the increase in our  performance.  In our  electronics  group new
products in the mobile video category fueled growth.  Two days ago, we announced
the  acquisition  of Recoton's  audio  assets,  which we believe will add to our
market share as we leverage the well known Jensen,  Acoustic Research and Advent
brands to increase sales and penetration."  Shalam further stated,  "Our balance
sheet remains strong and  inventories are at acceptable  levels.  The economy is
showing modest signs of improvement and provided that  continues,  we believe we
have the right  products,  pricing  and brands to  achieve  our sales and profit
goals.

The Company's cash position as of February 28, 2003 was $43 million. In addition
as of February 28,  2003,  the Company had no direct  borrowings  under its main
bank facility. The Company has


Audiovox Corporation Reports Fiscal First Quarter 2003 Page 2 of 4 requested waivers from its bank group on covenant violations related to income tests for all of fiscal 2002 and timely delivery of financial statements for the year ended November 30, 2002 and the quarter ended February 28, 2003. Operating Expenses Operating expenses increased $2,061 to $21,007 for the three months ended February 28, 2003, compared to $18,946 in 2002. As a percentage of net sales, operating expenses decreased to 7.1% for the three months ended February 28, 2003 from 10.3% in 2002. Major components of the increase in operating expenses were salaries due to Code Systems, Inc. and increased insurance and advertising expenses, particularly the general liability insurance. This increase in operating expenses was partially offset by reductions in other expenses. Operating income for the three months ended February 28, 2003 was $4.5 million compared to operating loss of $5.2 million in 2002. Balance Sheet-Selected Items Accounts receivable as of February 28, 2003 were $105.3 million. Inventory as of February 28, 2003 was $214.0 million with ACC inventory levels at $124.0 million and AEC inventory levels at $89.8 million. The Company's shareholder equity was $311.6 million as of February 28, 2003. Conference Call Audiovox Corporation will be hosting a results conference call on June 9, 2003 at 10:00 a.m. (EDT). Interested parties may participate in a listen-only mode via a real-time web cast by visiting the Company's web site http://www.audiovox.com. Audiovox Corporation is an international leader in the marketing of cellular telephones, mobile security and entertainment systems, and consumer electronics products. The Company conducts its business through two subsidiaries and markets its products both domestically and internationally under its own brands. It also functions as an OEM (Original Equipment Manufacturer) supplier to several customers. For additional information, please visit Audiovox on the Web at http://www.audiovox.com. 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 our ability to keep pace with technological advances; significant competition in the wireless, mobile and consumer electronics businesses; quality and consumer acceptance of newly introduced products; our relationships with key suppliers and customers;

Audiovox Corporation Reports Fiscal First Quarter 2003 Page 3 of 4 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 factors set forth herein, are detailed in the Company's Form 10-K for the fiscal fourth quarter and year ended November 30, 2002 and its Form 10-Q for the three months ended February 28, 2003. Company Contacts: C. Michael Stoehr Glenn Wiener SVP and CFO Investor and Financial Media Relations (631) 231-7750 (212) 786-6011 or GWIENER@GWCCO.COM -- Table To Follow -

Audiovox Corporation Reports Fiscal First Quarter 2003 Page 4 of 4 AUDIOVOX CORPORATION AND SUBSIDIARIES Consolidated Statements of Operations For the Three Months Ended February 28, 2002 and February 28, 2003 (In thousands, except share and per share data) (unaudited) Three Months Ended February 28, February 28, 2002 2003 ------------ ------------ As Restated See Note 2 Net sales $ 184,269 $ 296,818 Cost of sales 170,546 271,350 ------------ ------------ Gross profit 13,723 25,468 ------------ ------------ Operating expenses: Selling 6,751 7,303 General and administrative 11,053 12,305 Warehousing and technical support 1,142 1,399 ------------ ------------ Total operating expenses 18,946 21,007 ------------ ------------ Operating income (loss) (5,223) 4,461 ------------ ------------ Other income (expense): Interest and bank charges (963) (1,105) Equity in income of equity investments 304 371 Other, net (1,672) (1,099) ------------ ------------ Total other income (expense), net (2,331) (1,833) ------------ ------------ Income (loss) before provision for (recovery of) income taxes, minority interest and cumulative effect of a change in accounting for negative goodwill (7,554) 2,628 Provision for (recovery of) income taxes (1,500) 1,040 Minority interest 557 (380) ------------ ------------ Income (loss) before cumulative effect of a change in accounting for negative goodwill (5,497) 1,208 Cumulative effect of a change in accounting for negative goodwill 240 -- ------------ ------------ Net income (loss) $ (5,257) $ 1,208 ============ ============ Net income (loss) per common share (basic): Income (loss) before cumulative effect of a change in accounting for negative goodwill $ (0.25) $ 0.06 Cumulative effect of a change in accounting for negative goodwill 0.01 -- ------------ ------------ Net income (loss) per common share $ (0.24) $ 0.06 ============ ============ Net income (loss) per common share (diluted) Income (loss) before cumulative effect of a change in accounting for negative goodwill $ (0.25) $ 0.05 Cumulative effect of a change in accounting for negative goodwill 0.01 -- ------------ ------------ Net income (loss) per common share $ (0.24) $ 0.05 ============ ============ Weighted average number of common shares outstanding: Basic 21,967,263 21,830,480 ============ ============ Diluted 21,967,263 22,021,548 ============ ============