10-Q Filing

EMERSON RADIO CORP CIK: 32621 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-050853`
Period End Date	20141231
Filing Date	20150218
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	msn-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 68 Cash Flow Statement 56 Comprehensive Income 12

Balance Sheet 74 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.21M	USD	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
Preferred shares, shares issued	`PreferredStockSharesIssued`	3,677.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.70M	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`	$32.19M	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`	$15.03M	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
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$4.35M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$9.59M	USD	Point-in-time
Royalties receivable	`RoyaltiesReceivables`	$3.18M	USD	Point-in-time
Royalties receivable	`RoyaltiesReceivables`	$3.87M	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
Inventory	`InventoryNet`	$4.44M	USD	Point-in-time
Inventory	`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
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`	$2.56M	USD	Point-in-time
Prepaid purchases	`PrepaidPurchasesCurrent`	$2.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.78M	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`	$1.60M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$995.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.39M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$62.29M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$77.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$95.00K	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`	$1.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$86.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$130.00K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$1.33M	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`	$63.62M	USD	Point-in-time
Accounts payable and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.85M	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`	$3.95M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.35M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$416.00K	USD	Point-in-time
Total Non-current Liabilities	`LiabilitiesNoncurrent`	$416.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.77M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at December 31, 2014 and March 31, 2014, respectively; 3,677 shares issued and outstanding at December 31, 2014 and March 31, 2014, respectively; liquidation preference of $3,677,000 at December 31, 2014 and March 31, 2014, respectively	`PreferredStockValue`	$3.31M	USD	Point-in-time
Preferred shares -$.01 par value, 10,000,000 shares authorized at December 31, 2014 and March 31, 2014, respectively; 3,677 shares issued and outstanding at December 31, 2014 and March 31, 2014, respectively; liquidation preference of $3,677,000 at December 31, 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 December 31, 2014 and March 31, 2014, respectively; 27,129,832 shares outstanding at December 31, 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 December 31, 2014 and March 31, 2014, respectively; 27,129,832 shares outstanding at December 31, 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`	$79.79M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.10M	USD	Point-in-time
Accumulated earnings (deficit)	`RetainedEarningsAccumulatedDeficit`	$450.00K	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`	$59.86M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$75.30M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$79.25M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$63.62M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net product sales	`SalesRevenueGoodsNet`	$18.44M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$59.18M	USD	3 Qtrs
Net product sales	`SalesRevenueGoodsNet`	$19.60M	USD	1 Quarter
Net product sales	`SalesRevenueGoodsNet`	$57.30M	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$3.30M	USD	1 Quarter
Licensing revenue	`LicensesRevenue`	$5.79M	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$4.67M	USD	3 Qtrs
Licensing revenue	`LicensesRevenue`	$2.41M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$63.85M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$22.90M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$63.09M	USD	3 Qtrs
Net revenues	`SalesRevenueNet`	$20.86M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$17.25M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$15.99M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$51.44M	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$52.60M	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$361.00K	USD	1 Quarter
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$683.00K	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$560.00K	USD	3 Qtrs
Other operating costs and expenses	`OtherCostOfOperatingRevenue`	$116.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.57M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.22M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.73M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.84M	USD	1 Quarter
Impairment of trademark	`AssetImpairmentCharges`	$219.00K	USD	1 Quarter
Impairment of trademark	`AssetImpairmentCharges`	$219.00K	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$19.20M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$58.57M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$19.78M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$61.24M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$2.61M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$1.07M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.51M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$3.69M	USD	1 Quarter
Loss on settlement of litigation	`GainLossRelatedToLitigationSettlement`	$-4.00M	USD	1 Quarter
Loss on settlement of litigation	`GainLossRelatedToLitigationSettlement`	$-4.00M	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$151.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$441.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNet`	$42.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$98.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.83M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.67M	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-948.00K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.74M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-1.45M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$882.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$1.11M	USD	3 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-1.32M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$3.55M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.85M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$376.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.38M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.01	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.13	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.13	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.01	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.13M	shares	3 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.55M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$376.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-1.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$57.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$71.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.69M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.64M	USD	3 Qtrs
Royalties receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$766.00K	USD	3 Qtrs
Royalties receivable	`IncreaseDecreaseInRoyaltiesReceivables`	$-681.00K	USD	3 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$1.00K	USD	3 Qtrs
Due to affiliates	`IncreaseDecreaseInDueToAffiliates`	$500.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-998.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$2.23M	USD	3 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$888.00K	USD	3 Qtrs
Prepaid purchases	`IncreaseDecreasePrepaidPurchases`	$510.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$181.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-158.00K	USD	3 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$1.42M	USD	3 Qtrs
Deferred tax assets and liabilities	`IncreaseDecreaseInDeferredTaxAssetsLiabilitiesNet`	$-1.33M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-85.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-44.00K	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.02M	USD	3 Qtrs
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.10M	USD	3 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$-412.00K	USD	3 Qtrs
Asset allowances, reserves and other	`IncreaseDecreaseInAssetAllowancesReservesAndOther`	$636.00K	USD	3 Qtrs
Impairment of trademark	`AssetImpairmentCharges`	$219.00K	USD	1 Quarter
Impairment of trademark	`AssetImpairmentCharges`	$219.00K	USD	3 Qtrs
Interest and income taxes payable	`IncreaseDecreaseInInterestAndIncomeTaxesPayable`	$-1.11M	USD	3 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$223.00K	USD	3 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.76M	USD	3 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-17.16M	USD	3 Qtrs
Short term investment	`IncreaseDecreaseInShortTermInvestments`	$-8.01M	USD	3 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$500.00K	USD	3 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-70.00K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.00K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.06M	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$16.65M	USD	3 Qtrs
Dividend paid	`PaymentsOfDividends`	$18.99M	USD	3 Qtrs
Net decrease in long-term capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$15.00K	USD	3 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.00K	USD	3 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.99M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.71M	USD	3 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.12M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.21M	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`	$26.33M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.21M	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`	$18.70M	USD	Point-in-time
Interest	`InterestPaid`	$7.00K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.17M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$55.00K	USD	3 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$3.55M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.85M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$376.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.38M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	3 Qtrs
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	3 Qtrs
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$2.85M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.38M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$3.55M	USD	3 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$376.00K	USD	3 Qtrs

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