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Last $0.16 USD
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SMDM On Other Exchanges
As of 8:10 PM 04/20/15 All times are local (Market data is delayed by at least 15 minutes).

singing machine co inc/the (SMDM) Snapshot

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11/12/14 - $0.24
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singing machine co inc/the (SMDM) Details

The Singing Machine Company, Inc., doing business as SMC Global, develops, produces, markets, and distributes consumer karaoke audio equipment, accessories, music, musical instruments, and licensed youth electronic products in North America and Europe. The company offers karaoke machines comprising Singing machine home karaoke and Bluetooth speaker system for connection to compact disc players, built-in cameras, and home theater systems. It also provides consumer Bluetooth audio products for outdoor and home use under Sound X brand name; and musical instruments, including semi-professional digital drum sets and keyboards, and youth musical instruments under the Sound X and Sound X Kids brands. The Singing Machine Company, Inc. sells its products primarily through mass merchandisers, department stores, direct mail catalogs and showrooms, music and record stores, national chains, specialty stores, and warehouse clubs, as well as through online karaoke music download store. The company was founded in 1982 and is headquartered in Fort Lauderdale, Florida.

25 Employees
Last Reported Date: 06/30/14
Founded in 1982

singing machine co inc/the (SMDM) Top Compensated Officers

Chief Executive Officer and General Counsel
Total Annual Compensation: $100.4K
Chief Financial Officer
Total Annual Compensation: $109.8K
Vice President of Global Sales and Marketing
Total Annual Compensation: $180.8K
Compensation as of Fiscal Year 2014.

singing machine co inc/the (SMDM) Key Developments

The Singing Machine Company, Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended December 31, 2014

The Singing Machine Company, Inc. reported unaudited consolidated earnings results for third quarter and nine months ended December 31, 2014. For the quarter, the company’s net sales were $18,086,370 against $16,814,794 a year ago. Income from operations was $1,680,348 against $1,489,054 a year ago. Income before provision for income tax was $1,543,116 against $1,447,952 a year ago. Net income was $1,033,864 against $820,674 a year ago. Basic and diluted EPS was $0.03 against $0.02 a year ago. The increase in net sales reflected the addition of Wal-Mart Stores as a nationwide customer.  For the nine months, the company’s net sales were $36,583,388 against $29,062,931 a year ago. Income from operations was $1,487,651 against $1,142,453 a year ago. Income before provision for income tax was $1,253,501 against $1,091,643 a year ago. Net income was $855,506 against $603,559 a year ago. Basic and diluted EPS was $0.02 against $0.02 a year ago. Net cash used in operating activities was $3,196,966 against net cash provided by operating activities of $1,055,847 a year ago. Purchase of property and equipment was $35,599 against $207,178 a year ago.

The Singing Machine Company, Inc. Announces Executive Changes

The Singing Machine Company, Inc. announced that the Board of Directors has approved the appointment of Mr. Philip Lau to the position of Chairman of the Board. Ms. Carol Lau will resign from the position of Chairwoman of the Board due to retirement. For Mr. Lau, there are no understandings or arrangements with the company or other persons pursuant to which Mr. Lau was appointed as Chairman. Mr. Lau is the Chairman of koncepts International Ltd. and Treasure Green Holdings Ltd.

The Singing Machine Company, Inc. Announces Home(TM) 2.0, Next Generation Bluetooth Speaker

The Singing Machine Company, Inc. announced Home(TM) 2.0, an upgraded version of their popular Bluetooth speaker that turns into a karaoke entertainment system. It's the perfect way to create joy through music this holiday season with hours of entertainment for friends, families and coworkers. The Home 2.0 has improved Wi-Fi performance, enhanced sound quality, and extended battery life for the mic-remote. The Home 2.0 is $299 and available for pre-sale now at for Christmas delivery. Home 2.0 will also be available for purchase on and later this month. Home 2.0 delivers room-filling sound as a Bluetooth speaker by day, and endless entertainment as a karaoke entertainment system by night. When the mood is right, Home 2.0 turns into an on-demand, Wi-Fi-enabled karaoke machine. It plugs into users TV via HDMI and connects to the cloud wirelessly. With one click, user have instant access to Singing Machine Play(TM), a platform that streams more than 8,000 HD karaoke music videos. Singing Machine Home 2.0 comes with a wireless hybrid Mic-Remote that makes it easy to navigate the Play platform on users TV. Users can also create their play queue online at Home 2.0 rethinks the traditional karaoke machine design by adding Bluetooth speaker functionality and featuring a sleek design that earns its place as a centerpiece in users home. Soulful Audio: Designed with carefully engineered acoustics, Singing Machine Home 2.0 is packed with 2.1 omnidirectional sound, two tweeters and a pumping subwoofer for a full range of superior high and low notes. Home 2.0 easily fills any room with sound and makes sharing users music simple. It connects to any Bluetooth-enabled device to play users music whether user stream holiday music from Pandora or Spotify, or have users own curated collection of songs. Plus with a range up to 33 feet, user can roam the room with users smartphone, tablet or MP3 player, and play DJ without needing to walk back to the speaker to control users music. The speaker's minimalistic yet distinctive design includes a reflective bottom cabinet that mirrors its surroundings, making it fit perfectly into any interior. Mega Karaoke Library: When it's time to turn up the fun, Home 2.0 is ready. Plugged into users TV, Home connects to Singing Machine Play via Wi-Fi and transforms into a searchable vault of users favorite karaoke videos. Powered by The KARAOKE Channel (owned by the Stingray Digital Media Group), Play offers one of the largest, licensed, libraries of HD karaoke videos in the world with more than 8,000 videos hosted in the cloud. Three subscription levels provide convenient, affordable options to meet users streaming needs whether user want access for an impromptu party or users weekly karaoke night. Party Pass (48 Hours) $5, Monthly Pass (1 month) $15, and Annual Pass (1 year) $75.


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