10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-355751`
Period End Date	20120630
Filing Date	20120814
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	msn-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 33 Cash Flow Statement 55

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.54M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.69M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$215.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$70.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.13M	USD	Point-in-time
Preferred stock, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$25.64M	USD	Point-in-time
Preferred stock, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Other receivables	`OtherReceivables`	$990.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other receivables	`OtherReceivables`	$1.19M	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
Due from affiliates	`DueFromAffiliateCurrent`	$1.00K	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$1.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$11.27M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory, net	`InventoryNet`	$9.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.87M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.34M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.30M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$88.97M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$228.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$260.00K	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`	$1.50M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$262.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$274.00K	USD	Point-in-time
Total assets	`Assets`	$92.51M	USD	Point-in-time
Total assets	`Assets`	$78.68M	USD	Point-in-time
Current maturities of long-term borrowings	`DebtCurrent`	$65.00K	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`	$18.70M	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$11.00K	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.20M	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.37M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$107.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$381.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.51M	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$72.00K	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$62.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$177.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$196.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$20.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.78M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at June 30, 2012 and March 31, 2012, respectively; 3,677 shares issued and outstanding at June 30, 2012 and March 31, 2012, respectively; liquidation preference of $3,677,000 at June 30, 2012 and March 31, 2012, respectively	`PreferredStockValue`	$3.31M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at June 30, 2012 and March 31, 2012, respectively; 3,677 shares issued and outstanding at June 30, 2012 and March 31, 2012, respectively; liquidation preference of $3,677,000 at June 30, 2012 and March 31, 2012, respectively	`PreferredStockValue`	$3.31M	USD	Point-in-time
Common shares - $.01 par value, 75,000,000 shares authorized, 52,965,797 shares issued at June 30, 2012 and March 31, 2012, respectively; 27,129,832 shares outstanding at June 30, 2012 and March 31, 2012, respectively	`CommonStockValue`	$529.00K	USD	Point-in-time
Common shares - $.01 par value, 75,000,000 shares authorized, 52,965,797 shares issued at June 30, 2012 and March 31, 2012, respectively; 27,129,832 shares outstanding at June 30, 2012 and March 31, 2012, 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 income (losses)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-82.00K	USD	Point-in-time
Accumulated other comprehensive income (losses)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$345.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.42M	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`	$71.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$67.90M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$92.51M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$78.68M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$44.88M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$50.10M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.42M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.14M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$51.52M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$46.01M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$45.59M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$39.17M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$387.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$408.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.01M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.69M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$41.59M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$47.67M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.42M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.85M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$31.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$31.00K	USD	1 Quarter
Realized gain on sale of marketable security	`TradingSecuritiesRealizedGainLoss`	$828.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.45M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.71M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$613.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.34M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
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	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.34M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$89.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$122.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.17M	USD	1 Quarter
Asset allowances, reserves and other	`AssetAllowancesReservesAndOther`	$-82.00K	USD	1 Quarter
Asset allowances, reserves and other	`AssetAllowancesReservesAndOther`	$596.00K	USD	1 Quarter
Gain on sale of marketable security	`TradingSecuritiesRealizedGainLoss`	$828.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$20.46M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.43M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-326.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-203.00K	USD	1 Quarter
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$15.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.41M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$10.44M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.46M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-45.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$12.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$9.55M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.28M	USD	1 Quarter
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-11.00K	USD	1 Quarter
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-2.00K	USD	1 Quarter
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$48.00K	USD	1 Quarter
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$274.00K	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.41M	USD	1 Quarter
Net cash (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.05M	USD	1 Quarter
Proceeds from sale of marketable security	`ProceedsFromSaleOfTradingSecuritiesHeldforinvestment`	$4.72M	USD	1 Quarter
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$1.45M	USD	1 Quarter
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-145.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Disposals of property and equipment	`PropertyPlantAndEquipmentDisposals`	$-7.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$151.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.28M	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$2.47M	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-1.00K	USD	1 Quarter
Net (decrease) in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$10.00K	USD	1 Quarter
Net (decrease) in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$23.00K	USD	1 Quarter
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.00K	USD	1 Quarter
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.49M	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.26M	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.27M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	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`	$21.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.69M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	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`	$21.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.69M	USD	Point-in-time
Interest	`InterestPaid`	$3.00K	USD	1 Quarter
Interest	`InterestPaid`	$8.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$377.00K	USD	1 Quarter

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