Emerson Radio Corp (MSN, Financial) filed Annual Report for the period ended 2010-03-31.
Emerson Radio Corp has a market cap of $48.6 million; its shares were traded at around $1.79 with a P/E ratio of 8.5 and P/S ratio of 0.2. The dividend yield of Emerson Radio Corp stocks is 61.4%.MSN is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Approximately 38% and 45% of the Companys net revenues in fiscal 2010 and 2009, respectively, were made through third-party sales representative organizations that receive sales commissions and work in conjunction with the Companys own sales personnel. With the Companys permission, third-party sales representative organizations may sell competitive products in addition to the Companys products. In most instances, either party may terminate a sales representative relationship on 30 days prior notice by the Company and 90 days prior notice by the sales representative organization in accordance with customary industry practice. In fiscal 2010, the Company utilized approximately 20 sales representative organizations, including one through which approximately 25% of its net revenues, including revenues from one of the Companys two major customers described above, were made in fiscal 2010. In fiscal 2009, the Company utilized approximately 19 sales representative organizations, including one through which approximately 27% of its net revenues, including revenues from one of the Companys two major customers described above, were made in fiscal 2009. No other sales representatives organization accounted for more than 10% of net revenues in either year The remainder of the Companys sales is to customers that are serviced by its sales personnel. Although sales and operating results could be negatively impacted, management does not believe that the loss of one or more sales representative organizations would have a material adverse effect on its business and results of operations, as the Company believes that new sales representative organizations could be identified if needed, although that could be a time consuming process.
The Company is highly dependent upon sales of its products to Wal-Mart and Target. For the fiscal years ended March 31, 2010 and 2009, Wal-Mart accounted for approximately 53% and 46% of our net revenues, respectively, and Target accounted for approximately 25% and 27%, respectively, of the Companys net revenues. No other customer accounted for greater than 10% of the Companys net revenues during these periods. All customer purchases are made through purchase orders and the Company does not have any long-term contracts with its customers. The complete loss of, or significant reduction in business from, or a material adverse change in the financial condition of, Wal-Mart or Target will cause a material and adverse change in the Companys revenues and operating results.
Read the The complete Report
Emerson Radio Corp has a market cap of $48.6 million; its shares were traded at around $1.79 with a P/E ratio of 8.5 and P/S ratio of 0.2. The dividend yield of Emerson Radio Corp stocks is 61.4%.MSN is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
In fiscal 2010 and 2009, Wal-Mart accounted for approximately 53% and 46% of the Companys net revenues, respectively, and Target accounted for approximately 25% and 27% of the Companys net revenues, respectively. No other customer accounted for more than 10% of net revenues in either period. The trade accounts receivable balances for Wal-Mart and Target, net of specific reserves, were 68% and 46% as of March 31, 2010, respectively, and 15% and 45% as of March 31, 2009, respectively. Management believes that a loss, or a significant reduction, of sales to Wal-Mart or Target would have a materially adverse effect on the Companys business and results of operations.Approximately 38% and 45% of the Companys net revenues in fiscal 2010 and 2009, respectively, were made through third-party sales representative organizations that receive sales commissions and work in conjunction with the Companys own sales personnel. With the Companys permission, third-party sales representative organizations may sell competitive products in addition to the Companys products. In most instances, either party may terminate a sales representative relationship on 30 days prior notice by the Company and 90 days prior notice by the sales representative organization in accordance with customary industry practice. In fiscal 2010, the Company utilized approximately 20 sales representative organizations, including one through which approximately 25% of its net revenues, including revenues from one of the Companys two major customers described above, were made in fiscal 2010. In fiscal 2009, the Company utilized approximately 19 sales representative organizations, including one through which approximately 27% of its net revenues, including revenues from one of the Companys two major customers described above, were made in fiscal 2009. No other sales representatives organization accounted for more than 10% of net revenues in either year The remainder of the Companys sales is to customers that are serviced by its sales personnel. Although sales and operating results could be negatively impacted, management does not believe that the loss of one or more sales representative organizations would have a material adverse effect on its business and results of operations, as the Company believes that new sales representative organizations could be identified if needed, although that could be a time consuming process.
The Company is highly dependent upon sales of its products to Wal-Mart and Target. For the fiscal years ended March 31, 2010 and 2009, Wal-Mart accounted for approximately 53% and 46% of our net revenues, respectively, and Target accounted for approximately 25% and 27%, respectively, of the Companys net revenues. No other customer accounted for greater than 10% of the Companys net revenues during these periods. All customer purchases are made through purchase orders and the Company does not have any long-term contracts with its customers. The complete loss of, or significant reduction in business from, or a material adverse change in the financial condition of, Wal-Mart or Target will cause a material and adverse change in the Companys revenues and operating results.
Read the The complete Report
