Shares of VOXX International Corp. fell 7% to $6.72 after the company swung to a loss in its second quarter amid a falling top line.
The consumer and automotive electronics producer posted a net loss of $10.2 million, or 42 cents a share, for the quarter ended Aug. 31, compared with a gain of $300,000, or 1 cent a share, in the same period a year ago.
Analysts surveyed by FactSet had been expecting a loss of just 7 cents a share.
Sales fell to $125.7 million from $143.1 million last year.
Chief Executive Pat Lavelle said worsening global economic conditions were partially to blame for the drop in sales, having spurred a decline in discretionary spending and spooked retailers.