10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-098486`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	msn-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 57 Cash Flow Statement 59

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.97M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$600.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$667.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Investment in marketable security	`TradingSecuritiesCurrent`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Investment in marketable security	`TradingSecuritiesCurrent`	$4.72M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$10.93M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.26M	USD	Point-in-time
Other receivables	`OtherReceivables`	$1.41M	USD	Point-in-time
Other receivables	`OtherReceivables`	$1.01M	USD	Point-in-time
Preferred stock, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Preferred stock, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$9.00K	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$8.52M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$25.31M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$964.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$549.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.19M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$69.35M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$78.36M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.92M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.75M	USD	Point-in-time
Trademarks, net	`IntangibleAssetsNetExcludingGoodwill`	$1.54M	USD	Point-in-time
Trademarks, net	`IntangibleAssetsNetExcludingGoodwill`	$1.54M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.08M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$330.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$358.00K	USD	Point-in-time
Total assets	`Assets`	$76.72M	USD	Point-in-time
Total assets	`Assets`	$85.07M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	-	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$2.47M	USD	Point-in-time
Current maturities of long-term borrowings	`DebtCurrent`	$44.00K	USD	Point-in-time
Current maturities of long-term borrowings	`DebtCurrent`	$46.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$20.68M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$14.41M	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$1.00K	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$2.00K	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.59M	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$196.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$117.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.32M	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$117.00K	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$150.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$158.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$162.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.62M	USD	Point-in-time
Preferred shares - $.01 par value, 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000	`PreferredStockValue`	$3.31M	USD	Point-in-time
Preferred shares - $.01 par value, 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000	`PreferredStockValue`	$3.31M	USD	Point-in-time
Common shares - $.01 par value, 75,000,000 shares authorized, 52,965,797 shares issued, and 27,129,832 shares outstanding	`CommonStockValue`	$529.00K	USD	Point-in-time
Common shares - $.01 par value, 75,000,000 shares authorized, 52,965,797 shares issued, and 27,129,832 shares outstanding	`CommonStockValue`	$529.00K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$98.78M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$98.78M	USD	Point-in-time
Accumulated other comprehensive (losses) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$746.00K	USD	Point-in-time
Accumulated other comprehensive (losses) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-82.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.05M	USD	Point-in-time
Treasury stock, at cost, 25,835,965 shares	`TreasuryStockValue`	$24.22M	USD	Point-in-time
Treasury stock, at cost, 25,835,965 shares	`TreasuryStockValue`	$24.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$62.37M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$58.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$76.72M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$85.07M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	$92.90M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$119.12M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$41.38M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$51.97M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$45.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$82.60M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$103.42M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$37.01M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$689.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$302.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$1.01M	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$712.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.97M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.07M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$87.36M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$108.40M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$48.65M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$39.69M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.32M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.69M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.55M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$10.72M	USD	2 Qtrs
Interest (expense) income, net	`InterestIncomeExpenseNet`	$30.00K	USD	2 Qtrs
Interest (expense) income, net	`InterestIncomeExpenseNet`	$14.00K	USD	2 Qtrs
Interest (expense) income, net	`InterestIncomeExpenseNet`	$-1.00K	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNet`	$4.00K	USD	1 Quarter
Realized gain on sale of marketable security	`TradingSecuritiesRealizedGainLoss`	$828.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.69M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.73M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.40M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.32M	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$98.00K	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.30M	USD	2 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-71.00K	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.63M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.19	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.34	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.34	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.19	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$167.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$299.00K	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.05M	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.10M	USD	2 Qtrs
Asset allowances, reserves and other	`AssetAllowancesReservesAndOther`	$918.00K	USD	2 Qtrs
Asset allowances, reserves and other	`AssetAllowancesReservesAndOther`	$-94.00K	USD	2 Qtrs
Gain on sale of marketable security	`TradingSecuritiesRealizedGainLoss`	$828.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-518.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.71M	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$302.00K	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-401.00K	USD	2 Qtrs
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$45.00K	USD	2 Qtrs
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$9.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$24.44M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$15.12M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-207.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$415.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-28.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$14.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.27M	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.37M	USD	2 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-1.00K	USD	2 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-26.00K	USD	2 Qtrs
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$-79.00K	USD	2 Qtrs
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$154.00K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.04M	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.02M	USD	2 Qtrs
Proceeds from sale of marketable security	`ProceedsFromSaleOfTradingSecuritiesHeldforinvestment`	$4.72M	USD	2 Qtrs
(Increase) decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-2.89M	USD	2 Qtrs
(Increase) decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$67.00K	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$66.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.66M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.82M	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$44.00K	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$2.47M	USD	2 Qtrs
Decrease in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$33.00K	USD	2 Qtrs
Decrease in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$97.00K	USD	2 Qtrs
Borrowings under long-term credit facility	`ProceedsFromLongTermLinesOfCredit`	$56.82M	USD	2 Qtrs
Repayments of borrowings under long-term credit facility	`RepaymentsOfLongTermLinesOfCredit`	$56.82M	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-141.00K	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.50M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.36M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.86M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.94M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97M	USD	Point-in-time
Interest	`InterestPaid`	$13.00K	USD	2 Qtrs
Interest	`InterestPaid`	$63.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$471.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$850.00K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.