Emerson Radio Corporation (MSN) financial statements (2022 and earlier)

Company profile

Business Address 35 WATERVIEW BLVD.
PARSIPPANY, NJ 07054
State of Incorp. DE
Fiscal Year End March 31
SIC 3651 - Household Audio and Video Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
3/31/2021
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24,74430,29034,37736,28841,09652,54950,251
Cash and cash equivalents24,7445,2456,2767,91725,09627,47130,096
Short-term investments 25,04528,10128,37116,00025,07820,155
Restricted cash and investments      500
Receivables2,6196914846041,8841,2082,800
Inventory, net of allowances, customer advances and progress billings      2,056
Inventory      2,056
Other undisclosed current assets3,2442,6112,4954,3614,0843,1812,719
Total current assets:30,60733,59237,35641,25347,06456,93858,326
Noncurrent Assets
Finance lease, right-of-use asset335
Operating lease, right-of-use asset455213442
Property, plant and equipment2 46141829
Other noncurrent assets909494154151101132
Other undisclosed noncurrent assets   4485287911,401
Total noncurrent assets:5503105456086939101,562
TOTAL ASSETS:31,15733,90237,90141,86147,75757,84859,888
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities195195195250250165455
Taxes payable195195195250250165455
Deferred revenue 195180
Debt11242    
Due to related parties11    512
Deferred revenue and credits50  
Contract with customer, liability165
Other undisclosed current liabilities1,3671,1445925458037561,691
Total current liabilities:1,5641,5361,2099601,1039212,658
Noncurrent Liabilities
Long-term debt and lease obligation24685238    
Finance lease, liability234
Operating lease, liability24482234
Liabilities, other than long-term debt1,6131,8362,0332,173   
Accounts payable and accrued liabilities1,6131,8362,0332,173   
Other undisclosed noncurrent liabilities    2,871  
Total noncurrent liabilities:1,8591,9212,2712,1732,871  
Total liabilities:3,4233,4573,4803,1333,9749212,658
Stockholders' equity
Stockholders' equity attributable to parent27,73430,44534,42138,72843,78356,92757,230
Preferred stock3,3103,3103,3103,3103,3103,3103,310
Common stock529529529529529529529
Treasury stock, value(33,201)(33,201)(33,201)(33,201)(30,583)(24,290)(24,224)
Additional paid in capital79,79279,79279,79279,79279,79279,79279,792
Accumulated deficit(22,696)(19,985)(16,009)(11,702)(9,265)(2,414)(2,177)
Total stockholders' equity:27,73430,44534,42138,72843,78356,92757,230
TOTAL LIABILITIES AND EQUITY:31,15733,90237,90141,86147,75757,84859,888

Income statement (P&L) ($ in thousands)

12/31/2021
TTM
3/31/2021
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
Revenues8,0327,4456,2938,98215,02221,25145,751
Revenue, net15,02221,25145,751
Cost of revenue(6,016)(5,749)(6,755)(8,787)(13,981)(16,476)(39,186)
Cost of goods and services sold(6,016)(5,749)(6,755)(8,760)(13,921)(16,277)(38,819)
Gross profit:2,0161,696(462)1951,0414,7756,565
Operating expenses(5,486)(5,891)(4,164)(3,843)(4,923)(5,101)(7,970)
Operating loss:(3,470)(4,195)(4,626)(3,648)(3,882)(326)(1,405)
Nonoperating income
(Investment Income, Nonoperating)
 158776859496261178
Interest and debt expense (7)  (4)  
Other undisclosed income from continuing operations before equity method investments, income taxes151      
Loss from continuing operations before equity method investments, income taxes:(3,319)(4,044)(3,850)(2,789)(3,390)(65)(1,227)
Other undisclosed income (loss) from continuing operations before income taxes(331)83     
Loss from continuing operations before income taxes:(3,650)(3,961)(3,850)(2,789)(3,390)(65)(1,227)
Income tax expense (benefit)(11)(15)(457)352(3,461)(172)259
Net loss available to common stockholders, diluted:(3,661)(3,976)(4,307)(2,437)(6,851)(237)(968)

Comprehensive Income ($ in thousands)

12/31/2021
TTM
3/31/2021
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
Net loss:(3,661)(3,976)(4,307)(2,437)(6,851)(237)(968)
Comprehensive loss, net of tax, attributable to parent:(3,661)(3,976)(4,307)(2,437)(6,851)(237)(968)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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