Singing Machine Co Inc (SMDM) financial statements (2021 and earlier)

Company profile

Business Address 6301 NW 5TH WAY, STE 2900
FORT LAUDERDALE, FL 33309
State of Incorp. DE
Fiscal Year End March 31
SIC 3652 - Phonograph Records and Prerecorded Audio Tapes and Disks (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2020
TTM
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments100122
Cash and cash equivalents100122
Receivables1342221
Inventory, net of allowances, customer advances and progress billings586854
Inventory586854
Deferred costs     0
Other undisclosed current assets023000
Total current assets:19141111108
Noncurrent Assets
Finance lease, right-of-use asset 0
Operating lease, right-of-use asset21
Property, plant and equipment111000
Deferred costs     0
Deferred income tax assets0 
Other noncurrent assets000000
Deferred tax assets, net1112
Other undisclosed noncurrent assets 100  
Total noncurrent assets:331123
TOTAL ASSETS:221712131210
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities672221
Accounts payable451211
Accrued liabilities221110
Debt0001 0
Customer refund liability   000
Other undisclosed current liabilities532122
Total current liabilities:11104543
Noncurrent Liabilities
Long-term debt and lease obligation2000  
Long-term debt, excluding current maturities0  0  
Finance lease, liability 0
Capital lease obligations0   
Operating lease, liability20
Liabilities, other than long-term debt01    
Due to related parties01    
Other undisclosed noncurrent liabilities00 0 2
Total noncurrent liabilities:2100 2
Total liabilities:13114545
Stockholders' equity
Stockholders' equity attributable to parent, including:969876
Common stock, share subscribed but unissued, subscriptions receivable  (0)  (0)
Additional paid in capital202020201919
Accumulated deficit(11)(14)(12)(12)(12)(14)
Other undisclosed stockholders' equity attributable to parent000000
Total stockholders' equity:969876
TOTAL LIABILITIES AND EQUITY:221712131210

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

12/31/2020
TTM
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
Revenues663946615349
Revenue, net 5349
Cost of revenue
(Cost of Goods and Services Sold)
(47)(30)(35)(45)(39)(37)
Gross profit:19812161412
Operating expenses(13)(11)(11)(15)(11)(10)
Operating income (loss):6(3)1132
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
2(0)(0)(0)(0)(0)
Interest and debt expense0(0)(0)(0)(0)(0)
Income (loss) from continuing operations before equity method investments, income taxes:8(4)1031
Other undisclosed income (loss) from continuing operations before income taxes(0)00000
Income (loss) from continuing operations before income taxes:8(3)1132
Income tax expense (benefit)(2)1(0)(1)(1)0
Net income (loss) available to common stockholders, diluted:6(3)1022

Comprehensive Income ($ in millions)

12/31/2020
TTM
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
Net income (loss):6(3)1022
Comprehensive income (loss), net of tax, attributable to parent:6(3)1022

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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