Today’s Quote of the Day comes from the transcript of the Audiovoxx (VOXX) conference call discussing the company’s purchase of Klipsch. Usually conference calls give the analysts a chance to ask management questions about specific transactions, company performance, or forecasts. It is exceedingly rare when the company turns the tables and begins questioning an analyst!
John Shalam - Audiovox Corporation – Chairman
Rich, this is John Shalam. Aren’t you happy now that we did not do a distribution of cash or buy back stock all these past years, as you had been pressing me to do?Richard Greenberg - Donald Smith & Company – AnalystThat’s a longer discussion, John. That remains (multiple speakers) — I don’t think I am happy that we’ve just added $5 plus to goodwill and intangibles. You have destroyed a lot of tangible book value from this. So there is a lot to prove from our perspective, but I wish you all the luck.John Shalam - Audiovox Corporation – ChairmanI appreciate it. Thanks very much.
Author Disclosure: No Position
