10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-413347`
Period End Date	20140930
Filing Date	20141114
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	msn-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 64 Cash Flow Statement 53 Comprehensive Income 12

Balance Sheet 72 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.11M	USD	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.76M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$500.00K	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	3,677.00	shares	Point-in-time
Short term investments	`ShortTermInvestments`	$15.00M	USD	Point-in-time
Preferred shares, liquidation preference	`PreferredStockLiquidationPreferenceValue`	$3.68M	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
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$4.35M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$6.13M	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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`	$3.87M	USD	Point-in-time
Royalties and other receivables	`RoyaltiesAndOtherReceivablesCurrent`	$951.00K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventory	`InventoryNet`	$5.68M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Inventory	`InventoryNet`	$5.44M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	52.97M	shares	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$2.05M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$1.66M	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 expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.60M	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 expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.56M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$929.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.39M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$59.16M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$77.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$112.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$142.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.75M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.06M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$87.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$130.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$2.26M	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$2.02M	USD	Point-in-time
Total Assets	`Assets`	$61.42M	USD	Point-in-time
Total Assets	`Assets`	$79.25M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$3.92M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$3.95M	USD	Point-in-time
Due to affiliates	`DueToAffiliateCurrent`	$500.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.42M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.42M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.95M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at September 30, 2014 and March 31, 2014, respectively; 3,677 shares issued and outstanding at September 30, 2014 and March 31, 2014, respectively; liquidation preference of $3,677,000 at September 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 September 30, 2014 and March 31, 2014, respectively; 3,677 shares issued and outstanding at September 30, 2014 and March 31, 2014, respectively; liquidation preference of $3,677,000 at September 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 September 30, 2014 and March 31, 2014, respectively; 27,129,832 shares outstanding at September 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 September 30, 2014 and March 31, 2014, respectively; 27,129,832 shares outstanding at September 30, 2014 and March 31, 2014, respectively	`CommonStockValue`	$529.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$79.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$98.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.40M	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`	$75.30M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$57.01M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$79.25M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$61.42M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$37.70M	USD	2 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$40.74M	USD	2 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$17.26M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$12.86M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.39M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$1.08M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$2.49M	USD	2 Qtrs
Licensing revenue	`LicensesRevenue`	$2.25M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$42.99M	USD	2 Qtrs
Net revenues	`SalesRevenueNet`	$18.34M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$14.25M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$40.19M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$15.63M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$11.79M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$36.62M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$34.19M	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$171.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$322.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$444.00K	USD	2 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$127.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.51M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.33M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.73M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.31M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$14.22M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$41.45M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$18.13M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$39.37M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$207.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$30.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$821.00K	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.54M	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$44.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$343.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$121.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$109.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$74.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$930.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.88M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$328.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$27.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$122.00K	USD	2 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-60.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$232.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$698.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$388.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$47.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.76M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.06	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.03	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.03	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.06	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$698.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$388.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$47.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.76M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$30.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$52.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.20M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.99M	USD	2 Qtrs
Royalties and other receivables	`IncreaseDecreaseInRoyaltiesAndOtherReceivables`	$-2.91M	USD	2 Qtrs
Royalties and other receivables	`IncreaseDecreaseInRoyaltiesAndOtherReceivables`	$-738.00K	USD	2 Qtrs
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-1.00K	USD	2 Qtrs
Due from affiliates	`IncreaseDecreaseDueFromAffiliates`	$-500.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.85M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$241.00K	USD	2 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$-387.00K	USD	2 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$1.00M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-47.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-42.00K	USD	2 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$120.00K	USD	2 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$160.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-61.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-43.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$671.00K	USD	2 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-36.00K	USD	2 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$357.00K	USD	2 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$-425.00K	USD	2 Qtrs
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$-570.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.73M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$657.00K	USD	2 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-17.19M	USD	2 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-30.08M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.00K	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$500.00K	USD	2 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$16.69M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$30.05M	USD	2 Qtrs
Dividend paid	`PaymentsOfDividends`	$18.99M	USD	2 Qtrs
Net decrease in long-term capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$15.00K	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.00K	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.99M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$30.70M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$429.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.76M	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`	$21.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.76M	USD	Point-in-time
Interest	`InterestPaid`	$6.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$55.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$573.00K	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$698.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$388.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$47.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.76M	USD	2 Qtrs
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	2 Qtrs
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$698.00K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$47.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.76M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$388.00K	USD	1 Quarter

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