10-K Filing

EMERSON RADIO CORP CIK: 32621 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001193125-12-302134`
Period End Date	20120331
Filing Date	20120713
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	msn-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 38 Cash Flow Statement 60 Stockholders Equity 12

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.05M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	USD	Point-in-time
Preferred stock, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$600.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$215.00K	USD	Point-in-time
Preferred stock, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$10.93M	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
Other receivables	`OtherReceivables`	$1.19M	USD	Point-in-time
Other receivables	`OtherReceivables`	$1.41M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$1.00K	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	-	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
Inventory, net	`InventoryNet`	$8.52M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Inventory, net	`InventoryNet`	$11.27M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$549.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.87M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Investments in marketable securities	`TradingSecuritiesCurrent`	$4.72M	USD	Point-in-time
Investments in marketable securities	`TradingSecuritiesCurrent`	-	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.30M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.83M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$69.35M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$74.95M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$260.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.92M	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`	$1.67M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$358.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$262.00K	USD	Point-in-time
Total Assets	`Assets`	$76.72M	USD	Point-in-time
Total Assets	`Assets`	$78.68M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$2.47M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	-	USD	Point-in-time
Current maturities of long-term borrowings	`DebtCurrent`	$46.00K	USD	Point-in-time
Current maturities of long-term borrowings	`DebtCurrent`	$64.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$9.15M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$14.41M	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$11.00K	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$2.00K	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.20M	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$107.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$196.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$10.54M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$18.32M	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$150.00K	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$72.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$177.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$158.00K	USD	Point-in-time
Preferred shares - 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 - 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 - $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at March 31, 2012 and March 31, 2011, respectively; 27,129,832 shares outstanding at March 31, 2012 and March 31, 2011, respectively	`CommonStockValue`	$529.00K	USD	Point-in-time
Common shares - $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at March 31, 2012 and March 31, 2011, respectively; 27,129,832 shares outstanding at March 31, 2012 and March 31, 2011, respectively	`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`	$-10.42M	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`	$58.09M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$67.90M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$41.34M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$78.68M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$76.72M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$193.53M	USD	Annual
Net product sales	`SalesRevenueGoodsNet`	$156.97M	USD	Annual
Licensing revenue	`LicensesRevenue`	$6.28M	USD	Annual
Licensing revenue	`LicensesRevenue`	$7.31M	USD	Annual
Net revenues	`SalesRevenueNet`	$200.84M	USD	Annual
Net revenues	`SalesRevenueNet`	$163.25M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$172.92M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$142.27M	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$1.35M	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$1.64M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.76M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.38M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$181.94M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$151.39M	USD	Annual
Operating income	`OperatingIncomeLoss`	$18.91M	USD	Annual
Operating income	`OperatingIncomeLoss`	$11.87M	USD	Annual
Gain on settlement of litigation	`GainLossRelatedToLitigationSettlement`	$1.81M	USD	Annual
Realized gain on sale of marketable securities	`TradingSecuritiesRealizedGainLoss`	$828.00K	USD	Annual
Realized gain on sale of marketable securities	`TradingSecuritiesRealizedGainLoss`	$966.00K	USD	Annual
Gain on sale of building	`GainLossOnSaleOfPropertyPlantEquipment`	$347.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$70.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$32.00K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$2.80M	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$1.25M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.11M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.71M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.48M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.79M	USD	Annual
Net income	`NetIncomeLoss`	$10.63M	USD	Annual
Net income	`NetIncomeLoss`	$15.92M	USD	Annual
Basic net income per share	`EarningsPerShareBasic`	$0.59	USD	Annual
Basic net income per share	`EarningsPerShareBasic`	$0.39	USD	Annual
Diluted net income per share	`EarningsPerShareDiluted`	$0.39	USD	Annual
Diluted net income per share	`EarningsPerShareDiluted`	$0.59	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	Annual

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.63M	USD	Annual
Net income	`NetIncomeLoss`	$15.92M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$276.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$502.00K	USD	Annual
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$4.64M	USD	Annual
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$1.41M	USD	Annual
Asset allowances, reserves, and other	`AssetAllowancesReservesAndOther`	$2.62M	USD	Annual
Asset allowances, reserves, and other	`AssetAllowancesReservesAndOther`	$287.00K	USD	Annual
Gain on sale of building	`GainLossOnSaleOfPropertyPlantEquipment`	$347.00K	USD	Annual
Gain on sale of investment	`GainLossOnSaleOfInvestments`	$828.00K	USD	Annual
Gain on sale of investment	`GainLossOnSaleOfInvestments`	$966.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$577.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.27M	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-220.00K	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$376.00K	USD	Annual
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$1.00K	USD	Annual
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-185.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-2.12M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$755.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.32M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-187.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$153.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-96.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.37M	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.26M	USD	Annual
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$9.00K	USD	Annual
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-26.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-89.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$22.00K	USD	Annual
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-152.00K	USD	Annual
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.67M	USD	Annual
Proceeds from sale of marketable securities	`ProceedsFromSaleOfTradingSecuritiesHeldforinvestment`	$4.72M	USD	Annual
Proceeds from sale of marketable securities	`ProceedsFromSaleOfTradingSecuritiesHeldforinvestment`	$3.10M	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$599.00K	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-385.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$231.00K	USD	Annual
Disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.79M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.84M	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.27M	USD	Annual
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$3.15M	USD	Annual
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$2.45M	USD	Annual
Net decrease in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$78.00K	USD	Annual
Net decrease in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$51.00K	USD	Annual
Borrowings under long-term credit facility	`ProceedsFromLongTermLinesOfCredit`	$88.16M	USD	Annual
Repayments of borrowings under long-term credit facility	`RepaymentsOfLongTermLinesOfCredit`	$88.16M	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.53M	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.20M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.16M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.75M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$15.05M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$15.05M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	USD	Point-in-time
Interest	`InterestPaid`	$103.00K	USD	Annual
Interest	`InterestPaid`	$23.00K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$704.00K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.94M	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$58.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$41.34M	USD	Point-in-time
Unrealized gain on securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$828.00K	USD	Annual
Unrealized gain on securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-828.00K	USD	Annual
Net income	`NetIncomeLoss`	$10.63M	USD	Annual
Net income	`NetIncomeLoss`	$15.92M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.81M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.75M	USD	Annual
Balance	`StockholdersEquity`	$58.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$41.34M	USD	Point-in-time

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