M
EMERSON RADIO CORP
MSNCIK 0000032621NYSENon-AcceleratedSmaller ReportingHousehold Audio & Video EquipmentDelawareFY ends Mar 31
Period
FY 2025
Revenue
$10.79M
Net Income
$-4.73M
Total Assets
$23.53M
Equity
$21.49M
Shares Out
21.04M
Op. Cash Flow
$-3.65M
Business
EMERSON RADIO CORP designs, sources, imports, markets and sells low- to moderately-priced houseware and consumer electronic products and licenses its trademarks to third parties worldwide. Main products include televisions, microwave ovens, clock radios, compact refrigerators, Bluetooth speakers, security products and other houseware and audio items. Its key activities consist of product design, third-party manufacturing, distribution programs (Domestic and Direct Import) and trademark licensing through agent relationships. The company markets and distributes primarily in the United States, Canada and Mexico through mass merchandisers, online marketplaces and direct customer programs.
Summary from filing dated 2025-06-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 | FY 2021 2021-03-31 |
|---|---|---|---|---|---|---|
| Revenue | 11 | 9 | 7 | 8 | 7 | |
| Cost of sales | 10 | 8 | 5 | 6 | 6 | |
| Selling, general and administrative expenses | 7 | 5 | 4 | 5 | 6 | |
| Total cost of sales and SG&A | 16 | 12 | 9 | 12 | 12 | |
| Operating loss | −6 | −3 | −2 | −3 | −4 | |
| Settlement of litigation | 0 | 3 | 0 | −450,000 | — | |
| Interest income, net | 887,000 | 1 | 702,000 | 57,000 | 151,000 | |
| (Loss) income before income taxes | −5 | 856,000 | −1 | −4 | −4 | |
| Provision for income taxes | 3,000 | 90,000 | 0 | 0 | 15,000 | |
| Net (loss) income | −5 | 766,000 | −1 | −4 | −4 | |
| Basic (loss) income per share (in dollars per share) | −0.22 | 0.04 | −0.06 | −0.17 | −0.19 | |
| Diluted (loss) income per share (in dollars per share) | −0.22 | 0.04 | −0.06 | −0.17 | −0.19 | |
| Basic (in shares) | 21 | 21 | 21 | 21 | 21 | |
| Diluted (in shares) | 21 | 21 | 21 | 21 | 21 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 | FY 2021 2021-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 1 | 20 | 25 | 26 | 5 | |
| Short term investments | 15 | 0 | — | — | 25 | |
| Accounts receivable, net | 1 | 1 | 1 | 1 | 691,000 | |
| Licensing receivable | 42,000 | 37,000 | 245,000 | 0 | — | |
| Inventory | 5 | 7 | 4 | 2 | 2 | |
| Prepaid purchases | 43,000 | 107,000 | 247,000 | 141,000 | 361,000 | |
| Prepaid expenses and other current assets | 247,000 | 274,000 | 357,000 | 390,000 | 289,000 | |
| Total Current Assets | 23 | 29 | 31 | 30 | 34 | |
| Property and equipment, net | 211,000 | 95,000 | 1,000 | 2,000 | — | |
| Right-of-use asset-operating leases | 443,000 | 282,000 | 200,000 | 403,000 | 213,000 | |
| Right-of-use asset-finance leases | 6,000 | 0 | 1,000 | 2,000 | 3,000 | |
| Other assets | 76,000 | 84,000 | 74,000 | 90,000 | 94,000 | |
| Total Non-Current Assets | 736,000 | 461,000 | 276,000 | 497,000 | 310,000 | |
| Total Assets | 24 | 29 | 31 | 30 | 34 | |
| Accounts payable and other current liabilities | 808,000 | 1 | 641,000 | 758,000 | 788,000 | |
| Short-term operating lease liability | 136,000 | 93,000 | 139,000 | 211,000 | 152,000 | |
| Short-term finance lease liability | 1,000 | 0 | 1,000 | 1,000 | 1,000 | |
| Income tax payable, current portion | 668,000 | 531,000 | 401,000 | 195,000 | 195,000 | |
| Deferred revenue | 96,000 | 191,000 | 149,000 | 210,000 | 195,000 | |
| Total Current Liabilities | 2 | 2 | 5 | 1 | 2 | |
| Long-term operating lease liability | 321,000 | 198,000 | 62,000 | 201,000 | 82,000 | |
| Long-term finance lease liability | 5,000 | 0 | 0 | 2,000 | 3,000 | |
| Income tax payable | 0 | 668,000 | 1 | 2 | 2 | |
| Total Non-Current Liabilities | 326,000 | 866,000 | 1 | 2 | 2 | |
| Total Liabilities | 2 | 3 | 6 | 3 | 3 | |
| Series A Preferred shares 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000 | 3 | 3 | 3 | 3 | 3 | |
| Common shares $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at March 31, 2025 and 2024, respectively; 21,042,652 shares outstanding at March 31, 2025 and 2024, respectively | 529,000 | 529,000 | 529,000 | 529,000 | 529,000 | |
| Additional paid-in capital | 80 | 80 | 80 | 80 | 80 | |
| Accumulated deficit | −29 | −24 | −25 | −24 | −20 | |
| Treasury stock, at cost (31,923,145 shares at March 31, 2025 and 2024, respectively) | −33 | −33 | −33 | −33 | −33 | |
| Total Shareholders Equity | 21 | 26 | 25 | 27 | 30 | |
| Total Liabilities and Shareholders Equity | 24 | 29 | 31 | 30 | 34 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 | FY 2021 2021-03-31 |
|---|---|---|---|---|---|---|
| Non-cash lease expense | 152,000 | 167,000 | 204,000 | 214,000 | — | |
| Depreciation and amortization | 79,000 | 25,000 | 1,000 | 0 | 2,000 | |
| Non-cash reserve charges | 1 | 37,000 | — | — | — | |
| Accounts receivable | −1 | −215,000 | 129,000 | −609,000 | −185,000 | |
| Licensing receivable | −5,000 | 208,000 | −245,000 | 0 | — | |
| Inventory | 2 | −3 | −2 | −151,000 | −43,000 | |
| Prepaid purchases | 64,000 | 140,000 | −106,000 | 220,000 | — | |
| Prepaid expenses and other current assets | 27,000 | 83,000 | 33,000 | −101,000 | — | |
| Other assets | 8,000 | −10,000 | 16,000 | 4,000 | — | |
| Accounts payable and other current liabilities | −350,000 | 517,000 | −117,000 | −30,000 | 196,000 | |
| Right of use assets-operating | −313,000 | −248,000 | 0 | −403,000 | — | |
| Right of use assets-finance | −6,000 | 0 | — | — | — | |
| Short term lease liabilities | 43,000 | −46,000 | −72,000 | 59,000 | −89,000 | |
| Long term lease liabilities | 123,000 | 136,000 | −139,000 | 118,000 | −153,000 | |
| Income taxes payable | −531,000 | −404,000 | −205,000 | −223,000 | −197,000 | |
| Advanced deposits | 0 | −3 | 3 | 0 | — | |
| Deferred revenue | −95,000 | 42,000 | −61,000 | 15,000 | 15,000 | |
| Net cash (used) by operating activities | −4 | −5 | −306,000 | −5 | −4 | |
| Proceeds from sale of short-term investments | 1 | 19 | 0 | 25 | 28 | |
| Purchases of short-term investments | −16 | −19 | 0 | 0 | −25 | |
| Additions to property and equipment | −195,000 | −119,000 | 0 | −2,000 | — | |
| Net cash (used) by investing activities | −15 | −119,000 | 0 | 25 | 3 | |
| Short term finance liability | 1,000 | −1,000 | 0 | — | — | |
| Long term finance liability | 5,000 | 0 | −2,000 | — | — | |
| Net cash provided (used) by financing activities | 6,000 | −1,000 | −2,000 | 0 | 204,000 | |
| Net (decrease) in cash and cash equivalents | −19 | −5 | −308,000 | 20 | −1 | |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 313,000 | 248,000 | 0 | — | — | |
| Right-of-use assets obtained in exchange for new finance lease liabilities | 6,000 | 0 | — | — | — | |
| Interest | 9,000 | 5,000 | 10,000 | 11,000 | 7,000 | |
| Income taxes | 535,000 | 478,000 | 205,000 | 222,000 | 197,000 |
Filings
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