Company profile

Ticker
MSN
Exchange
CEO
Tak Kwong Hon
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
223285224

MSN stock data

(
)

Calendar

14 Aug 19
14 Oct 19
31 Mar 20

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 1.61M 1.59M 2.54M 2.59M
Net income -987K -463K -529K -595K
Diluted EPS -0.05 -0.02 -0.02 -0.03
Net profit margin -61.19% -29.08% -20.82% -23.01%
Operating income -1.22M -1.13M -767K -774K
Net change in cash -657K -14.01M -1.43M 102K
Cash on hand 7.26M 7.92M 21.93M 23.36M
Cost of revenue 1.75M 1.76M 2.36M 2.43M
Annual (USD) Mar 19 Mar 18 Mar 17 Mar 16
Revenue 8.98M 15.02M 21.25M 45.75M
Net income -2.44M -6.85M -237K -968K
Diluted EPS -0.11 -0.27 -0.01 -0.04
Net profit margin -27.13% -45.61% -1.12% -2.12%
Operating income -3.65M -3.88M -326K -1.41M
Net change in cash -17.18M -2.38M -2.63M -13.39M
Cash on hand 7.92M 25.1M 27.47M 30.1M
Cost of revenue 8.76M 13.92M 16.28M 38.82M

Financial data from company earnings reports

Financial report summary

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Competition
VOXX International
Risks
  • If the Company’s third party sales representatives fail to adequately promote, market and sell the Company’s products, the Company’s revenues could significantly decrease.
  • Increases in costs of products may materially reduce the Company’s profitability.
  • The Company relies on a third-party logistics provider for the storage and distribution of its products in the United States and, if such third party logistics provider incurs any damage to the facilities where the Company’s products are stored or is unable to distribute its products as needed, it could have a material adverse effect on the Company’s results of operations and business.
  • The Company is subject to intense competition in the industry in which it operates, which could cause material changes in the selling price of its products or losses of its market share.
  • The Company could be exposed to product liability or other claims for which its product liability or other insurance may be inadequate.
Management Discussion
  • Net product sales — Net product sales for the first quarter of fiscal 2020 were $1.5 million as compared to $2.1 million for the first quarter of fiscal 2019, a decrease of $0.6 million, or 27.4%. The Company’s sales during the first quarters of fiscal 2020 and fiscal 2019 were highly concentrated among the Company’s three largest customers – Wal-Mart, Amazon.com and Fred Meyer – where net product sales comprised approximately 75% and 84%, respectively, of the Company’s total net product sales.
  • Net product sales may be periodically impacted by adjustments made to the Company’s sales allowance and marketing support accrual to record unanticipated customer deductions from accounts receivable or to reduce the accrual by any amounts which were accrued in the past but not taken by customers through deductions from accounts receivable within a certain time period. In the aggregate, these adjustments had the effect of increasing net product sales and operating income by approximately nil and $5,000 for the first quarters of fiscal 2020 and fiscal 2019, respectively. Net product sales are comprised primarily of the sales of houseware and audio products which bear the Emerson® brand name. The major elements which contributed to the overall decrease in net product sales were as follows:
  • Business operations — The Company expects to continue to expand its existing distribution channels and to develop and promote new products to regain shelf spaces with retailers in the USA. The Company is also investing in products and marketing activities to expand its sales through internet and ecommerce channels. These efforts require investments in appropriate human resources, media marketing and development of products in various categories in addition to the traditional home appliances and audio products on which the Company has historically focused. The Company also is continuing its efforts to identify strategic courses of
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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