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Founded in surveys spring awakening musical 1961, Whidbey springtime awakening unravels Island Bank provides various deposit,loan and investment services to meet customers' financial needs. Whidbey IslandBank operates 19 full-service branches located in five counties in NorthwesternWashington.-0-CONTACT:Washington Banking CompanyJack Wagner, President & CEORick A Shields, Chief Financial Officer360.679.3121. As happens without fail every four years, World Cup talk is dominating English football Spring Awakening .For the players in and around manager Fabio Capello?s national squad, the focus is on making the plane for South Africa next summer.For those lucky enough to be all but guaranteed their seat?and there are a few?the focus is on launching a bid to win the big prize on the horizon.For the Football Association, the situation is slightly different.While the directors of English football?s governing body are still devoting considerable resources to give Capello everything he needs to launch a strong challenge next summer, they are also focusing equal attention on launching a successful World Cup bid of their own.Instead of 2010, the FA is looking to 2018, when they hope they can bring the World Cup back to England for the first time in 52 years.When England hosted that last tournament, in 1966, Bobby Moore famously lead the Three Lions to their solitary triumph in the game?s biggest tournament.And hopes are high that, after so many years of hurt, a return of the final to a new Wembley might yield the same famous old result.That long wait to host, as well as England?s self-proclaimed status as the "home of football" (something that has been deliberately underplayed during campaigning so as not to offend) would seem to give the bid more weight than that of its rivals.Couple that with the fact it has an unrivalled collection of world-class stadiums and infrastructure to call upon, and, on paper at least, any bid from the sceptred isle would appear to be a winner.But in many respects, England and the wider United Kingdom is not currently in the best of health. While many other European and world nations are slowly steering their ship clear of recession, the United Kingdom is still waging a seemingly losing battle with high unemployment and floundering industry.And while London will host the Olympics in 2012, disputes and debates about how the event will be financed has raised awkward questions in many minds.Equally, the continued fall-out of the invasion of Iraq means the United Kingdom does not enjoy political popularity with many on the world stage.But, unlike many other prominent sporting or cultural events, football tends to exist in its own world, with the 25 voters on FIFA?s panel concerned with the politics of football above and beyond anything else.Nevertheless, the England 2018 bid has so far managed to make a real hash of things.Prominent FIFA voter Jack Warner?who has the power to significantly influence who is awarded the honour?has criticized the bid on numerous occasions, and the common consensus is that England?s pitch?lacking the impressive spokesman that many successful bids have had (for example Germany with Franz Beckanbauer for 2006)?has so far failed to impress, especially against stiff competition from the likes of Spain & Portugal."My colleagues are saying very quietly that the guys [from England] who are coming to them are lightweight. This is the type of thing that loses you a bid,? Warner said last month."You have to look at what others are doing and also be creative yourself, these things are not happening."With the bid perceived to be handicapped by the lack of heavyweights and hanging by a thread, this week the bid team turned to desperate measures.Six members of the bid?s board were demoted, including National Sports Minister Gerry Sutcliffe, while former FA chief Geoff Thompson?who is on FIFA?s executive panel?has been drafted in to improve the situation.Lord Triesman, the current FA chief in overall charge of the bid, tried to put a positive spin on the move:"In our view, these changes reflect a positive development and send a loud message of absolute determination to bring the World Cup tournament to England,? he said Spring Awakening - springawakening ."We've got to a point where the England 2018 campaign requires focus, determination and where everybody involved has a specific purpose to help us win the bid." This week, the bid also appointed former Chelsea director of communications Simon Greenberg to oversee their positive presentation in the media.
But hopes of success, ironically, now seem to lie on the shoulders of one very prominent player.David Beckham.He might not have played in English domestic football for over six years, but the current LA Galaxy and AC Milan midfielder is the man who now carries the hopes of a nation.?I?ll do whatever it takes, without a doubt,? Beckham said.?If I can fly to different countries and help us have a chance of winning, then I?ll do that Spring Awakening . It would be special to win the World Cup and then host it, but there is a long way to go before that."It?s everyone?s dream to do that, but there is a lot of hard work for both Spring Awakening - wikipedia .?The 34-year-old will spend £50,000 of his own money to part-finance the chartering of a private jet to locations from Kuala Lumpur and Cape Town to woo the FIFA voters sping awakening . The England 2018 team is hoping he will be exactly the heavy hitter Warner et al believes they have lacked."He's a phenomenal asset," admitted Lord Triesman.?There are certainly a number of people who they (FIFA) want to meet and the person whom I suspect most want to meet is David."We want him there the maximum amount of time, we want him to be safe when he's there and to do as much with us as we can get him to do sring awakening . Thank goodness he's totally up for it."Yet Beckham?s reputation in the media and with the England squad has rarely been rosy.From his sending off in the World Cup against Argentina in 1998 to his unceremonious removal from the squad by Steve McClaren, the low points have outweighed the highlights during his 113 caps.Even now, his position in the national squad is the source of much debate.Much was made last week when LA Galaxy?s successful progression to MLS?s Western Conference final forced Beckham to withdraw from the England squad against Brazil, thus meaning England would have to reach the World Cup final next summer (and Beckham play a part in every game) for him to equal Peter Shilton?s national record of 125 caps.Even more was made, much of it in outrage, when Beckham equaled Bobby Moore?s outfield record of 108 caps back in February broadway musical . Few believed Beckham deserved to equal the incomparable Moore, regarded as England?s greatest ever captain.But while Bobby Moore may have won the World Cup, David Beckham might yet bring the whole tournament to England.It won?t be a single-handed triumph, but many close to the bid now accept he will play a massive role in any success.And if the bid is eventually successful, perhaps he deserves all the caps he eventually collects.After all, such an achievement will surely make him the most significant single player in the country?s history.. - Fiscal third quarter sales of $196 million represent largest sales quarterin Company's history, excluding the former wireless business- Gross margins increase to 19.9% in fiscal 3Q09 vs. 19.1% in fiscal 3Q08- Partnerships with SIRIUS XM, Sony Playstation and Qualcomm's Media FLOhighlight start to fiscal fourth quarterHAUPPAUGE, N.Y., Jan.
9 /PRNewswire-FirstCall/ -- Audiovox Corporation(Nasdaq: VOXX).Audiovox Corporation today announced results for its fiscal2009 third quarter and nine months ended November 30, 2008.Net sales for the quarter ended November 30, 2008 were $195.6 million comparedto net sales of $183.6 million reported in the comparable prior year period spring awakening broadway . Operating income from continuing operations before income taxes were $10.7million in the fiscal 2009 third quarter compared to $6.7 million in thefiscal third quarter last year.Net income for the quarter ended November 30,2008 was $6.5 million or earnings per diluted share of $0.29 compared to netincome of $4.7 million or $0.20 per diluted share in the comparable fiscal2008 period Spring Awakening tickets - springawakening .Patrick Lavelle, President and CEO stated, "We are generally pleased with ourthird quarter performance, especially in light of the continued economicturbulence worldwide.Despite waning consumer confidence and spending and thedifficulties of the automakers, we experienced our highest sales quarter forelectronics and accessories products in our Company's history.Our marginshave increased to target levels and we continue to manage our expensestructure to match anticipated sales.While I believe third quarter resultsare reflective of our efforts to increase distribution and expand our brandpresence, I am also cautious of our near-term outlook given recent reports ofa lackluster holiday season Spring Awakening .Economic difficulties will persist over thecoming year but I believe we are well positioned to weather this storm andshould be in a position to show strong growth and profits with newpartnerships in the second half of our next fiscal year."Electronics sales, which include both mobile and consumer electronics were$152.0 million for the quarter ended November 30, 2008, an increase of 9.4%compared to $139.0 million reported in the comparable fiscal 2008 period broadway musicals . This increase is primarily related to new product categories from the RCAAudio/Video acquisition and increases in electronic sales of the Company'soperations in Mexico and Venezuela.This increase was partially offset by theabsence of sales in select categories as the Company discontinuednon-profitable product lines such as portable navigation and flat screentelevisions.Additionally, sales increases were offset by declines in ourmobile, audio/video categories primarily due to the weakening U.S top broadway musicals . economy.Accessories sales for the fiscal 2009 third quarter were $43.7 million, adecrease of 2.1% compared to $44.6 million reported in the period endedNovember 30, 2007 and are a result of the overall decline of the U.S economy musicals . This decrease was partially offset by sales generated from the Technuityacquisition in November 2007.For the period ended November 30, 2008, gross margins were 19.9% compared to19.1% during the period ended November 30, 2007.Gross margins werepositively impacted by several factors, including price increases institutedin the second quarter of fiscal 2009 to offset increased warehouse, shipping,warranty and product costs and higher gross margins experienced in theconsumer electronics category.Offsetting this increase were lower sales ofaccessory products, which typically carry higher gross margins than coreelectronics products.The Company reported operating expenses of $27.2 million for the three monthsended November 30, 2008, a decline of $2.1 million or 7.3%, compared to $29.4million reported in the comparable period last year.As a percentage of netsales, operating expenses decreased to 14.0% for the three months endedNovember 30, 2008 from 16.0% in the comparable fiscal 2008 period.Thedecrease in total operating expenses is primarily due to our expense andworkforce reduction programs partially offset by $4.3 million of costs relatedto the acquired Technuity and RCA Audio/Video operations.Core operatingexpenses were down 21.1% in the comparable fiscal third quarters, from $29.1million to $23.0 million.Nine Months ResultsTotal net sales for the nine month period ended November 30, 2008 were $487.4million, an increase of 5.9% compared to net sales of $460.1 million in thenine month period ended November 30, 2007. Electronics sales for the fiscal 2009 nine month period, which represented77.4% of net sales, were $377.4 million, up 10.6% compared to $341.2 million,or 74.2% of net sales in the comparable fiscal 2008 period.This increase wasprimarily due to sales generated from the RCA Audio/Video operations,increases in the electronics sales of the Company's international operationsin Mexico and Venezuela and increases in OEM business.These increases werepartially offset by declines in mobile audio/video product lines as a resultof an overall decline in the U.S.
economy, lower consumer demand forelectronics products and a decline in vehicle sales.Accessories sales, whichrepresented 22.6% of net sales for the nine months ended November 30, 2008were $110.1 million compared to $118.9 million or 25.8% of net sales in theprior year period, a decline of 7.4%.This decrease was primarily due to adecline in demand for consumer electronics products as a result of the overalldecline in the U.S . economy, partially offset by sales generated from theacquired Technuity operations.Gross margins decreased by 100 basis points from 18.8% during the first ninemonths of fiscal 2008 to 17.8% in the first nine months of fiscal 2009.Grossmargins were unfavorably impacted by higher energy costs, transportationexpenses, labor and material costs and foreign exchange increases versus theU.S musical . dollar.To offset these higher costs, the Company implemented priceincreases in the 2009 second fiscal quarter but did not realize the effectuntil the period ended November 30, 2008.Additionally, during the 2009fiscal first quarter, the Company exited the portable navigation business,resulting in a charge of $2.9 million.Excluding the impact of this charge,gross margins for the comparative nine months periods was up slightly.Operating expenses increased $8.1 million or 10.3% to $86.8 million for thenine months ended November 30, 2008, from $78.7 million for the nine monthsended November 30, 2007.The increase in total operating expenses is due toincremental costs of $12.3 million related to the acquired Technuity and RCAAudio/Video operations, higher professional fees, direct labor, and generaland administrative salaries and related benefits, partially offset bydecreased commissions, trade show, travel and entertainment expenses and lowerofficer salaries.Operating expenses for the nine months ended November 30,2007 included a $1.0 million benefit related to a call/put option previouslygranted to certain employees as a result of the call/put liabilitycalculation.As a percentage of net sales, operating expenses increased to 17.8% for thefiscal 2009 nine month period compared to 17.1% in the comparable prior yearperiod.Core operating expenses declined $4.9 million or 6.2% from $78.4million in the fiscal 2008 nine month period to $73.6 million in thecomparable nine month period of fiscal 2009.The Company reported a pre-tax loss from continuing operations of $426,000 forthe nine months ended November 30, 2008.Net loss for the nine month periodended November 30, 2008 was $1.0 million or a loss of $0.04 per diluted sharecompared to net income of $10.6 million or earnings per diluted share of $0.47in the comparable period ended November 30, 2007.Net income for the fiscal2008 period ended November 30, 2007 was favorably impacted by $2.1 million inincome from discontinued operations as a result of a derivative legalsettlement.Conference Call Information The Company will be hosting its conference call on Monday, January 12 at 10:00a.m mcg spring awakening . EST.Interested parties can participate by visiting,and clicking on the webcast in the Investor Relations section or viateleconference (toll-free number: 800-299-7098; international number:617-801-9715; pass code: 93097657).For those who will be unable toparticipate, a replay will be available approximately one hour after the callhas been completed and will last for one week thereafter (replay number:888-286-8010; international replay number: 617-801-6888; pass code: 53837599).About AudiovoxAudiovox (Nasdaq:VOXX) is a recognized leader in the marketing of automotiveentertainment, vehicle security and remote start systems, consumer electronicsproducts and consumer electronics accessories . The company is number one inmobile video and places in the top ten of almost every category that it sells.
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