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Last $1.09 USD
Change Today -0.03 / -2.68%
Volume 80.5K
As of 8:04 PM 07/7/15 All times are local (Market data is delayed by at least 15 minutes).

emerson radio corp (MSN) Key Developments

Emerson Radio Corp. announced delayed annual 10-K filing

On 06/29/2015, Emerson Radio Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Emerson Radio Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014

Emerson Radio Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, net revenues were $22.898 million against $20.857 million a year ago. Operating income was $3.694 million against $1.075 million a year ago. Income before income taxes was $3.736 million against loss before income taxes of $2.827 million a year ago. Net income was $2.854 million or $0.11 per basic and diluted share against net loss of $1.381 million or $0.05 per basic and diluted share a year ago. The lower year-over-year net product sales were primarily driven by a $1.6 million, or 2.8%, decrease in net sales of houseware products, which was the result of lower year-over-year net sales of compact refrigerators and wine coolers, partly offset by higher year-over-year net sales of microwave ovens. For the nine months, net revenues were $63.088 million against $63.847 million a year ago. Operating income was $4.515 million against $2.611 million a year ago. Income before income taxes was $4.666 million against loss before income taxes of $0.948 million a year ago. Net income was $3.552 million or $0.13 per basic and diluted share against net loss of $0.376 million or $0.01 per basic and diluted share a year ago.

Emerson Radio Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2014

Emerson Radio Corp. announced unaudited consolidated earnings results for the second quarter and six months ended September 30, 2014. For the quarter, the company reported net revenues of $14,247,000 compared with $18,338,000 for the same period a year ago. Operating income was $30,000 compared with $207,000 for the same period a year ago, the decrease was due to the lower year-over-year net revenues, and higher year-over-year cost of sales as a percentage of sales, partly offset by a $0.6 million reversal of operating reserves no longer required. Income before income tax was $74,000 compared with $328,000 for the same period a year ago. Net income was $47,000 or $0.00 per basic and diluted share compared with $388,000 or $0.01 per basic and diluted share for the same period a year ago, the decrease was due to the year-over-year decrease in operating income and lower year-over-year interest income. For the six months, the company reported net revenues of $40,190,000 compared with $42,990,000 for the same period a year ago. Operating income was $821,000 compared with $1,536,000 for the same period a year ago, due to due to the lower year-over-year net revenues, higher year-over-year cost of sales and other operating costs as a percentage of sales, which were partly offset by a $0.6 million reversal of operating reserves no longer required, and $0.2 million in higher year-over year SG&A expenses. Income before income tax was $930,000 compared with $1,879,000 for the same period a year ago. Net income was $698,000 or $0.03 per diluted share compared with $1,757,000 or $0.06 per diluted share for the same period a year ago, the decrease was due primarily to the year-over-year decrease in operating income and lower year-over-year interest income.

Emerson Radio Corp. Elects Lionel Choong and Duncan Hon as Directors

Emerson Radio Corp. at its annual meeting of stockholders on October 8, 2014, elected Lionel Choong and Duncan Hon as Directors.

Emerson Radio Corp., Annual General Meeting, Oct 08, 2014

Emerson Radio Corp., Annual General Meeting, Oct 08, 2014., at 10:00 US Eastern Standard Time. Location: at the law offices of Lowenstein Sandler LLP located 65 Livingston Avenue. Agenda: To elect seven directors to serve until the next annual meeting of stockholders and until their respective successors shall have been duly elected and qualified; to ratify the appointment of MSPC Certified Public Accountants and Advisors, as independent registered public accountants for the fiscal year ending March 31, 2015; and to transact such other business as may properly come before the meeting and any adjournment thereof.

 

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