10-K Filing

EMERSON RADIO CORP CIK: 32621 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001193125-14-249174`
Period End Date	20140331
Filing Date	20140625
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	msn-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 40 Cash Flow Statement 61 Stockholders Equity 9 Comprehensive Income 5

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$70.00K	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreference`	$3.68M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$32.19M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$45.23M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$6.38M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$4.35M	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Royalties and other receivables	`RoyaltiesAndOtherReceivablesCurrent`	$3.87M	USD	Point-in-time
Royalties and other receivables	`RoyaltiesAndOtherReceivablesCurrent`	$969.00K	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$1.00K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Inventory, net	`InventoryNet`	$3.45M	USD	Point-in-time
Inventory, net	`InventoryNet`	$5.44M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$885.00K	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$2.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$988.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.39M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.69M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$77.22M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$81.07M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$258.00K	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$142.00K	USD	Point-in-time
Trademarks, net	`IntangibleAssetsNetExcludingGoodwill`	$219.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.75M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.12M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$104.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$130.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.70M	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$2.02M	USD	Point-in-time
Total Assets	`Assets`	$79.25M	USD	Point-in-time
Total Assets	`Assets`	$82.78M	USD	Point-in-time
Short-term capital lease obligations	`CapitalLeaseObligationsCurrent`	$43.00K	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$3.95M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$7.25M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.28M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$8.57M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.95M	USD	Point-in-time
Long-term capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$30.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$194.00K	USD	Point-in-time
Total Non-current Liabilities	`LiabilitiesNoncurrent`	$224.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.79M	USD	Point-in-time
Series A 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
Series A 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, 2014 and March 31, 2013, respectively; 27,129,832 shares outstanding at March 31, 2014 and March 31, 2013, 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, 2014 and March 31, 2013, respectively; 27,129,832 shares outstanding at March 31, 2014 and March 31, 2013, respectively	`CommonStockValue`	$529.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$98.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$98.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.10M	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`	$73.98M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$75.30M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$82.78M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$79.25M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$70.26M	USD	Annual
Net product sales	`SalesRevenueGoodsNet`	$121.63M	USD	Annual
Licensing revenue	`LicensesRevenue`	$7.57M	USD	Annual
Licensing revenue	`LicensesRevenue`	$6.77M	USD	Annual
Net revenues	`SalesRevenueNet`	$128.40M	USD	Annual
Net revenues	`SalesRevenueNet`	$77.83M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$108.63M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$63.01M	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$1.35M	USD	Annual
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$864.00K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.76M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.43M	USD	Annual
Impairment of trademark	`AssetImpairmentCharges`	$200.00K	USD	Point-in-time
Impairment of trademark	`AssetImpairmentCharges`	$219.00K	USD	Annual
Impairment of trademark	`AssetImpairmentCharges`	$1.33M	USD	Annual
Impairment of trademark	`AssetImpairmentCharges`	$1.30M	USD	Point-in-time
Total costs and expenses	`CostsAndExpenses`	$74.53M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$119.07M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.30M	USD	Annual
Operating income	`OperatingIncomeLoss`	$9.32M	USD	Annual
Loss on settlement of litigation	`GainLossRelatedToLitigationSettlement`	$-4.00M	USD	Annual
Loss on settlement of litigation	`GainLossRelatedToLitigationSettlement`	$-4.00M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$548.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$340.00K	USD	Annual
Nonoperating Income (Expense), Total	`NonoperatingIncomeExpense`	$340.00K	USD	Annual
Nonoperating Income (Expense), Total	`NonoperatingIncomeExpense`	$-3.45M	USD	Annual
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-152.00K	USD	Annual
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.66M	USD	Annual
Provision for income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-1.47M	USD	Annual
Provision for income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$3.67M	USD	Annual
Net income	`NetIncomeLoss`	$6.00M	USD	Annual
Net income	`NetIncomeLoss`	$1.32M	USD	Annual
Basic net income per share	`EarningsPerShareBasic`	$0.05	USD	Annual
Basic net income per share	`EarningsPerShareBasic`	$0.22	USD	Annual
Diluted net income per share	`EarningsPerShareDiluted`	$0.05	USD	Annual
Diluted net income per share	`EarningsPerShareDiluted`	$0.22	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 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.00M	USD	Annual
Net income	`NetIncomeLoss`	$1.32M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$106.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$88.00K	USD	Annual
Impairment of trademark	`AssetImpairmentCharges`	$200.00K	USD	Point-in-time
Impairment of trademark	`AssetImpairmentCharges`	$219.00K	USD	Annual
Impairment of trademark	`AssetImpairmentCharges`	$1.33M	USD	Annual
Impairment of trademark	`AssetImpairmentCharges`	$1.30M	USD	Point-in-time
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.58M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.73M	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-224.00K	USD	Annual
Other receivables	`IncreaseDecreaseInOtherReceivables`	$2.90M	USD	Annual
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-1.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-7.69M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.98M	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$1.16M	USD	Annual
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-876.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-124.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$616.00K	USD	Annual
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$-535.00K	USD	Annual
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$1.18M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-158.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$26.00K	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.30M	USD	Annual
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.36M	USD	Annual
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$1.71M	USD	Annual
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$1.44M	USD	Annual
Capitalized leases	`IncreaseDecreaseInCapitalizedLeases`	$-56.00K	USD	Annual
Due to affiliates	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-11.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$1.17M	USD	Annual
Income taxes payable	`IncreaseDecreaseInIncomeTaxes`	$-1.28M	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-82.00K	USD	Annual
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.09M	USD	Annual
Net cash (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.71M	USD	Annual
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-13.04M	USD	Annual
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$45.23M	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-145.00K	USD	Annual
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-70.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$111.00K	USD	Annual
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.00K	USD	Annual
Disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.00K	USD	Annual
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.08M	USD	Annual
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.19M	USD	Annual
Net decrease in short-term capital lease obligations	`ReductionOfShortTermCapitalLeaseObligations`	$43.00K	USD	Annual
Net decrease in short-term capital lease obligations	`ReductionOfShortTermCapitalLeaseObligations`	$21.00K	USD	Annual
Net decrease in long-term capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$42.00K	USD	Annual
Net decrease in long-term capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$30.00K	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-63.00K	USD	Annual
Net cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-73.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.92M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.55M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	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`	$26.33M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$44.96M	USD	Point-in-time
Interest	`InterestPaid`	$7.00K	USD	Annual
Interest	`InterestPaid`	$15.00K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.12M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.19M	USD	Annual

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$67.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$73.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$75.30M	USD	Point-in-time
Net income	`NetIncomeLoss`	$6.00M	USD	Annual
Net income	`NetIncomeLoss`	$1.32M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$82.00K	USD	Annual
Balance	`StockholdersEquity`	$67.90M	USD	Point-in-time
Balance	`StockholdersEquity`	$73.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$75.30M	USD	Point-in-time

Comprehensive Income 5 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.00M	USD	Annual
Net income	`NetIncomeLoss`	$1.32M	USD	Annual
Foreign currency translation adj.	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$82.00K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.32M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.08M	USD	Annual

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