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Emerson Radio Corp (NYSEMKT:MSN) emerging from the blues

Boston, MA 09/27/2013 (wallstreetpr) – Thomson Reuters downgraded Emerson Radio Corp (NYSEMKT:MSN) stock from a “buy” to a “hold” rating on Monday. In Thursday’s trading, Emerson Radio Corp (NYSEMKT:MSN) stock dropped by 0.52%. The opening price of the shares was $1.94 which climbed to an intraday high of $1.95 and dropped to a close of $1.91. Approximately 0.139 million shares were traded on Thursday and an average volume of 0.250 million shares was traded over a 30 day period. The 52- week low of the shares was $1.30 and the 52-week high was $2.17. The company has a market capitalization of 51.82 million.

Financial results

Recently, Emerson Radio Corp (NYSEMKT:MSN) reported its financial 2014 Q1 results. These showed a y-o-y drop of 46% in revenue. However, the revenue was up 7.4% in comparison to the earlier quarter. There was a 46% drop in gross margins and gross income dropped by 100bps year on year. At the end of the last reported-quarter, it had short term assets and cash of $61.3 million.

The company’s current assets totaled to $89.4M and the current liabilities stood at $15.5M. This amounts to a current-ratio of 5.8 and the quick ratio is 5.5. This means that the company does not face any solvency issues. In addition, the total liabilities stood at $15.7M. This also means that the company’s current assets cover its total liabilities 5.7 times over.

About the company

Emerson Radio Corp (NYSEMKT:MSN) is involved in designing, sourcing, importing and marketing different consumer electronic products and houseware. It licenses others on a global basis for different products. Directly and via its several subsidiaries, it is engaged in designing, sourcing, importing, marketing, selling and licensing to some licensees , numerous houseware and consumer electronic products. This is on an international and domestic basis under the Emerson Radio Corp (NYSEMKT:MSN) and HH Scott brands.

Published by Nicholas Maithya

Nicholas is a Financial Analyst by profession, who enjoys writing about investments, technological developments, business, economics and other financial topics at various financial publications. Join him here on as he endeavors to deliver to you the latest breaking news on the above mentioned fronts. Contact him by email at [email protected] or follow Nicholas Kitonyi @nmaithyak on Twitter.

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