10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-310260`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	msn-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 32 Cash Flow Statement 47 Comprehensive Income 6

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Preferred shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
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`	$21.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.87M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$73.00K	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Short term investments	`ShortTermInvestments`	-	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$32.19M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$16.84M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$4.35M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Royalties and other receivables	`RoyaltiesAndOtherReceivablesCurrent`	$1.07M	USD	Point-in-time
Royalties and other receivables	`RoyaltiesAndOtherReceivablesCurrent`	$3.87M	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$5.44M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory, net	`InventoryNet`	$8.93M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$1.32M	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	27.13M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$2.05M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.60M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	25.84M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.06M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.39M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$77.22M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$78.46M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$142.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$134.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.75M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$120.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$130.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$2.19M	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$2.02M	USD	Point-in-time
Total Assets	`Assets`	$80.65M	USD	Point-in-time
Total Assets	`Assets`	$79.25M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$3.95M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$4.70M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.95M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.70M	USD	Point-in-time
Total Non-current Liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Non-current Liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.70M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at June 30, 2014 and March 31, 2014, respectively; 3,677 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively; liquidation preference of $3,677,000 at June 30, 2014 and March 31, 2014, respectively	`PreferredStockValue`	$3.31M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at June 30, 2014 and March 31, 2014, respectively; 3,677 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively; liquidation preference of $3,677,000 at June 30, 2014 and March 31, 2014, 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, 2014 and March 31, 2014, respectively; 27,129,832 shares outstanding at June 30, 2014 and March 31, 2014, 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, 2014 and March 31, 2014, respectively; 27,129,832 shares outstanding at June 30, 2014 and March 31, 2014, 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`	$-3.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.45M	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`	$75.30M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$75.95M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$80.65M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$79.25M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$24.84M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$23.48M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.10M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.17M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$25.94M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$24.65M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$20.98M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$22.41M	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$317.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$151.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.43M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$23.32M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$25.15M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$791.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.33M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$222.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$65.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$856.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.55M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$205.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$182.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$651.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	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 47 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$651.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$28.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.13M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.85M	USD	1 Quarter
Royalties and other receivables	`IncreaseDecreaseInRoyaltiesAndOtherReceivables`	$70.00K	USD	1 Quarter
Royalties and other receivables	`IncreaseDecreaseInRoyaltiesAndOtherReceivables`	$-2.80M	USD	1 Quarter
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-1.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.61M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.49M	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$3.47M	USD	1 Quarter
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-726.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-310.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-53.00K	USD	1 Quarter
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$149.00K	USD	1 Quarter
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$124.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-10.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-35.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.33M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$751.00K	USD	1 Quarter
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$83.00K	USD	1 Quarter
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$-362.00K	USD	1 Quarter
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$57.00K	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.57M	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.37M	USD	1 Quarter
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$102.00K	USD	1 Quarter
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-32.19M	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$73.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-70.00K	USD	1 Quarter
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	1 Quarter
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-53.00K	USD	1 Quarter
Net cash provided (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$32.12M	USD	1 Quarter
Net decrease in long-term capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$11.00K	USD	1 Quarter
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.43M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.55M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.87M	USD	Point-in-time
Interest	`InterestPaid`	$3.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$32.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$651.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$651.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.37M	USD	1 Quarter

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