10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-475699`
Period End Date	20120930
Filing Date	20121119
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	msn-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 67 Cash Flow Statement 60

Balance Sheet 84 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.49M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$215.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$118.00K	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$25.00M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.31M	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`	$2.28M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Other receivables	`OtherReceivables`	$1.19M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$1.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$1.00K	USD	Point-in-time
Inventory, net	`InventoryNet`	$11.27M	USD	Point-in-time
Inventory, net	`InventoryNet`	$12.62M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.46M	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
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.30M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$2.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$91.62M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$206.00K	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`	$219.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.62M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.67M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$331.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$262.00K	USD	Point-in-time
Total assets	`Assets`	$78.68M	USD	Point-in-time
Total assets	`Assets`	$94.00M	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`	$18.29M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$9.15M	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$11.00K	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.48M	USD	Point-in-time
Accrued sales returns	`AccruedSalesReturns`	$1.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$232.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$107.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.54M	USD	Point-in-time
Long-term borrowings	`LongTermDebtAndCapitalLeaseObligations`	$51.00K	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`	$193.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$20.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.78M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at September 30, 2012 and March 31, 2012, respectively; 3,677 shares issued and outstanding at September 30, 2012 and March 31, 2012, respectively; liquidation preference of $3,677,000 at September 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 September 30, 2012 and March 31, 2012, respectively; 3,677 shares issued and outstanding at September 30, 2012 and March 31, 2012, respectively; liquidation preference of $3,677,000 at September 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 September 30, 2012 and March 31, 2012, respectively; 27,129,832 shares outstanding at September 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 September 30, 2012 and March 31, 2012, respectively; 27,129,832 shares outstanding at September 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`	$345.00K	USD	Point-in-time
Accumulated other comprehensive income (losses)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-82.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.05M	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`	$67.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$73.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$94.00M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$78.68M	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$32.30M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$90.32M	USD	2 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$40.21M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$77.17M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$2.42M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$3.55M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$1.17M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$2.59M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$41.38M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$34.72M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$80.73M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$92.90M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$82.60M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$68.28M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$37.01M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$29.10M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$793.00K	USD	2 Qtrs
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`	$385.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.74M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.75M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.07M	USD	2 Qtrs
Impairment of trademark	`AssetImpairmentCharges`	$1.33M	USD	2 Qtrs
Impairment of trademark	`AssetImpairmentCharges`	$1.33M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$74.14M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$39.69M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$87.36M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$32.55M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.69M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.59M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$5.55M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$2.17M	USD	1 Quarter
Interest income, (expense), net	`InterestIncomeExpenseNet`	$30.00K	USD	2 Qtrs
Interest income, (expense), net	`InterestIncomeExpenseNet`	$67.00K	USD	1 Quarter
Interest income, (expense), net	`InterestIncomeExpenseNet`	$98.00K	USD	2 Qtrs
Interest income, (expense), net	`InterestIncomeExpenseNet`	$-1.00K	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`	$6.40M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.23M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.68M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$898.00K	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-71.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$1.30M	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$285.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.79M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.21	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.19	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.21	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.19	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	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

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$5.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.79M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$167.00K	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.10M	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$17.00K	USD	2 Qtrs
Asset allowances, reserves and other	`AssetAllowancesReservesAndOther`	$918.00K	USD	2 Qtrs
Asset allowances, reserves and other	`AssetAllowancesReservesAndOther`	$-229.00K	USD	2 Qtrs
Gain on sale of marketable security	`TradingSecuritiesRealizedGainLoss`	$828.00K	USD	2 Qtrs
Impairment of trademark	`AssetImpairmentCharges`	$1.33M	USD	2 Qtrs
Impairment of trademark	`AssetImpairmentCharges`	$1.33M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.71M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.12M	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$1.08M	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-401.00K	USD	2 Qtrs
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$9.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.36M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$15.12M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$415.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.58M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$69.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-28.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$9.14M	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.27M	USD	2 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-1.00K	USD	2 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-11.00K	USD	2 Qtrs
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$125.00K	USD	2 Qtrs
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$-79.00K	USD	2 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.45M	USD	2 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.02M	USD	2 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$25.00M	USD	2 Qtrs
Proceeds from sale of marketable security	`ProceedsFromSaleOfTradingSecuritiesHeldforinvestment`	$4.72M	USD	2 Qtrs
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-97.00K	USD	2 Qtrs
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$67.00K	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.00K	USD	2 Qtrs
Disposals of property and equipment	`PropertyPlantAndEquipmentDisposals`	$-7.00K	USD	2 Qtrs
Net cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.90M	USD	2 Qtrs
Net cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.66M	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$-1.00K	USD	2 Qtrs
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$2.47M	USD	2 Qtrs
Net (decrease) in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$21.00K	USD	2 Qtrs
Net (decrease) in capital lease and other rental obligations	`NetDecreaseInCapitalLeaseAndOtherRentalObligations`	$33.00K	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.50M	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.00K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.47M	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`	$27.49M	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`	$44.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.49M	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`	$44.96M	USD	Point-in-time
Interest	`InterestPaid`	$13.00K	USD	2 Qtrs
Interest	`InterestPaid`	$7.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$606.00K	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.