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Audiovox Chairman and Founder, John Shalam Inducted into the Consumer Electronics Hall of Fame

Posted on: Wednesday, 21 October 2009, 08:28 CDT

HAUPPAUGE, N.Y., Oct. 21 /PRNewswire-FirstCall/ -- Audiovox Corporation (Nasdaq: VOXX) today announced that its Chairman and Founder, John J. Shalam has been inducted into the Consumer Electronics Hall of Fame. The induction, previously announced in April 2009 was formalized at the CE Hall of Fame Dinner, sponsored by the Consumer Electronics Association, in Phoenix, Arizona last night.

"I am honored to be included among this group of industry visionaries who have made such a monumental difference in advancing technology," stated John J. Shalam. "I have spent the past forty five years of my life, watching Audiovox grow from a small provider of car stereos to a billion dollar plus organization and it has been a rewarding experience for me personally, and all who have shared in our success. Our accomplishments have very much been a team effort and I would like to thank our employees, our customers and our partners; everyone I have worked with throughout my career. I share this award with you."

Pat Lavelle, President and CEO of Audiovox stated, "I am continuously amazed at John's vision and commitment to not only our Company, but the consumer electronics industry at large. I have learned so much from him throughout my career, as have others who have had the pleasure of working with him. I am honored to call him a friend and mentor and pleased that the CE industry has recognized his contributions in such a meaningful way. John is a hall of famer."

The CE Hall of Fame includes inventors, executives, engineers, retailers and journalists who are selected by an independent panel of industry judges. The judging took place at the Warwick Hotel in New York on February 24th and nominations were submitted by industry professionals and media through online submissions.

New members of the 2009 CE Hall of Fame include Dr. Irwin M. Jacobs, co-founder of Qualcomm, the team of Karl Hassel and Ralph Mathews, founders of the Chicago Radio Laboratory, which later became Zenith Radio, Steve Jobs, co-founder and CEO of Apple Inc., the late Neil Terk, founder of Terk Technologies, Walton Stinson, president and co-founder Listen Up, The Cohen brothers (Norman, Maurice and Philip), operators of Lechmere Sales, Richard E. Wiley, past Chairman of the Federal Communications Commission, Dr. Joseph Flaherty, who established the Advisory Committee on Advanced Television Systems, leading to the ATSC standard and Aaron Neretin, a consumer electronics journalist who wrote for Merchandising Week.

About Audiovox

Audiovox (Nasdaq: VOXX) is a recognized leader in the marketing of automotive entertainment, vehicle security and remote start systems, consumer electronics products and consumer electronics accessories. The company is number one in mobile video and places in the top ten of almost every category that it sells. Among the lines marketed by Audiovox are its mobile electronics products including mobile video systems, auto sound systems including satellite radio, vehicle security and remote start systems; consumer electronics products such as MP3 players, digital camcorders, DVRs, Internet radios, clock radios, portable DVD players, multimedia products like digital picture frames and home and portable stereos; consumer electronics accessories such as indoor/outdoor antennas, connectivity products, headphones, speakers, wireless solutions, remote controls, power & surge protectors and media cleaning & storage devices; Energizer®-branded products for rechargeable batteries and battery packs for camcorders, cordless phones, digital cameras and DVD players, as well as for power supply systems, automatic voltage regulators and surge protectors. The company markets its products through an extensive distribution network that includes power retailers, 12-volt specialists, mass merchandisers and an OE sales group. The company markets products under the Audiovox, RCA, Jensen, Acoustic Research, Energizer, Advent, Code Alarm, TERK, Prestige and SURFACE brands. For additional information, visit our Web site at www.audiovox.com.

About CEA

The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $172 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion and the fostering of business and strategic relationships. CEA also sponsors and manages the International CES - Where Entertainment, Technology and Business Converge. All profits from CES are reinvested into CEA's industry services. Find CEA online at www.CE.org.

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 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 changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the mobile and consumer electronics businesses as well as the wireless business; 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; 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 facts set forth herein, are detailed in the Company's Form 10-K for the fiscal year ended February 28, 2009.

Company Contact:

GW Communications, Glenn Wiener, Tel: 212-786-6011, gwiener@GWCco.com

SOURCE Audiovox Corporation

Source: PR Newswire

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