QOTD: I’ll Ask the Questions around Here (VOXX)

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 – Analyst
That’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 – Chairman
I appreciate it. Thanks very much.

Author Disclosure: No Position

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