HAUPPAUGE, NY — July 1, 2015 – VOXX International Corporation (NASDAQ: VOXX), today announced its first ever, multi-subsidiary OEM contract. VOXXHirschmann will be supplying dual DVD head restraints and Klipsch Image ONE headphones in all 2015 and 2016 model year Cadillac Escalade Platinum Edition vehicles. While VOXX has been a market leader in automotive rear-seat entertainment for decades, this marks the first time Klipsch audio products will be used in the OEM space.
This program began in January 2015, following the launch of the Cadillac Escalade Platinum, the next generation luxury SUV offered by Cadillac. The rear-seat entertainment system features VOXXHirschmann’s custom front head restraints containing dual 7” Screen/DVD product with two Klipsch Premium wired headphones, which complement the vehicles dual overhead screens. The Klipsch Image ONE headphones were customized specifically for the Cadillac Escalade Platinum, matching the luxury and high-end performance features of the vehicle by offering the consumer the best premium audio experience.
Commenting on today’s announcement, Pat Lavelle, President and CEO of VOXX International Corporation stated, “What’s exciting about this OEM contract is that it marks the first time we are using a branded Klipsch audio product as part of an OEM program and we couldn’t be happier to launch with one of the most prestigious brands in the automotive market. It had always been our intention to be able to include the Klipsch premium audio products as part of our automotive offerings and we believe this is just the beginning.”
Catering to on-ear audio enthusiasts, the Image ONE headphones maintain the same award-winning, high- quality sound signature and comfort for which Klipsch headphones are known, while introducing enhancements in build, functionality, design, and performance. The Company customized this model specifically for Cadillac Escalade Platinum DVD systems, which now feature an enhanced audio cable design. To use it with the headrest DVD system, Klipsch developed a shorter cable, a 3.5mm audio connector and an audio harness that is attached, while maintaining the volume control in-line for easy access and use. Additionally, the Klipsch Image ONE headphones include new, flat ear pads and an adjustable leather headband for optimal comfort and fit. Watch movies and use the headphones both with the rear-seat entertainment system or your mobile device while in the vehicle.
Michael Schroeder, Senior Vice President, Sales and Business Development with VOXXHirschmann Corporation added, “We continue to drive innovation for our automotive customers and have a number of new solutions in the market and in development, which incorporate the very best in audio, video, connectivity and security. We look forward to continuing our work with GM and the Cadillac team for years to come, to deliver an unparalleled multimedia experience that will resonate well with their consumers.”
About VOXXHirschmann Automotive Group
VOXX International’s Hirschmann Car Communication, Code Systems and Invision Automotive divisions have globally joined forces as VOXXHirschmann Corporation to take the provision of premium automotive connectivity, convenience, security and infotainment technology to a new and uniquely comprehensive level. Now more than ever, VOXXHirschmann is equipped and empowered to extend quality, value and versatility across the entire global automotive supply chain-direct -from factory to showroom floor. Certified to deliverexceptionally dependable solutions and support for Tier 1, Tier 2 and Tier 3 operations, VOXXHirschmann designs, manufactures and integrates "best-in-class" OE audio, entertainment and convenience solution’s for the makers of the world's most desired vehicles. Our worldwide sales, design and manufacturing facilities stretch across the globe, operating strategic footholds throughout North and South America, Europe and Asia. With over 220 engineers globally, VOXXHirschmann develops and delivers premium multimedia electronics, mobile lifestyle innovations, security and convenience solutions, and more. For additional information, please visit our Web site at www.voxxhirschmann.com.
About Klipsch Audio
In 1946 Paul W. Klipsch, inventor, acoustics pioneer and maverick, founded Klipsch Audio with the sole purpose of bringing the power, detail and emotion of the live music experience into his living room. Through the use of highly efficient speaker designs, handcrafted cabinetry and a thirst for real engineering breakthroughs – Klipsch, the great American loudspeaker company, was born in Hope, AR. Today, our diverse range of quality audio products includes speakers and headphones for almost any consumer and professional application – including cinema, whole-house, wireless, home theater and portable offerings. Honoring our founder’s legacy, Klipsch continues to be the legendary high-performance brand of choice for audiophiles and aficionados around the world. We are the Keepers of the Sound®. Klipsch Group, Inc. is headquartered in Indianapolis and is a wholly-owned subsidiary of VOXX International Corporation (NASDAQ: VOXX).
About VOXX International Corporation
VOXX International Corporation (NASDAQ:VOXX) has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, as well as premium high-end audio. Today, VOXX International Corporation has an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and most of the world’s leading automotive manufacturers. The Company has an international footprint in Europe, Asia, Mexico and South America, and a growing portfolio, which now comprises over 30 trusted brands. Among the key domestic brands are Klipsch®, RCA®, Invision®, Jensen®, Audiovox®, Terk®, Acoustic Research®, Advent®, Code Alarm®, CarLink®, 808®, AR for Her®, and Prestige®. International brands include Hirschmann Car Communication®, Klipsch®, Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, Oehlbach® and IncaarTM. For additional information, please visit our Web site at www.voxxintl.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 statements. 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 automotive, premium audio and consumer accessories businesses; 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; foreign currency fluctuations and concerns regarding the European debt crisis; restrictive debt covenants; 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 VOXX International Corporation 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 28, 2015.
VOXXHirschmann Automotive Group
Michael Schroeder, SVP, OEM Sales and Business Development
VOXX Corporate: Investor Relations
Glenn Wiener, GW Communications