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Audiovox Corporation and Subsidiaries
Notes to Consolidated Financial Statements, continued
February 29, 2008
(Dollars in thousands, except share and per share data)
14) Financial and Product Information About Foreign and Domestic Operations
Net sales and long-lived assets by location were as follows:
Net Sales
Three
Year Year Months Year
Ended Ended Ended Ended
February 29, February 28, February 28, November 30,
2008 2007 2006 2005
North America $ 501,952 $ 391,154 $ 88,255 $ 466,512
Latin America 13,666 8,517 2,005 8,224
Germany 61,746 46,291 8,999 52,039
Other foreign countries 13,991 10,728 3,791 12,941
Total net sales $ 591,355 $ 456,690 $ 103,050 $ 539,716
The basis of attributing net sales from external customers to individual countries is based on where the sale originates from.
Long-Lived Assets
As of As of
February 29, February 28,
2008 2007
North America $ 159,436 $ 118,457
Latin America 496 359
Asia 414 -
Germany 14,640 1,612
Total long-lived assets $ 174,986 $ 120,428
Net sales by product categories for the years ended February 29, 2008, February 28, 2007, the three months ended February
28, 2006 and the year ended November 30, 2005 were as follows:
Three
Year Year Months Year
Ended Ended Ended Ended
February 29, February 28, February 28, November 30,
2008 2007 2006 2005
Electronics $ 437,018 $ 432,943 $ 99,566 $ 530,408
Accessories 154,337 23,747 3,484 9,308
Total net sales $ 591,355 $ 456,690 $ 103,050 $ 539,716
15) Related Party Transactions
The Company leases facilities from its principal stockholder (see Note 11), conducts transactions with ASA (see Note 5) and
UTSI (see Note 11).
16) Contingencies
The Company is currently, and has in the past been, a party to various routine legal proceedings incident to the ordinary
course of business. If management determines, based on the underlying facts and circumstances, that it is probable a loss will
result from a litigation contingency and the amount of the loss can be reasonably estimated, the estimated loss is accrued
for. The Company believes its outstanding litigation matters disclosed below will not have a material adverse effect on the
Company's financial statements, individually or in the aggregate; however, due to the uncertain outcome of these matters, the
Company disclosed these specific matters below:
F-41
Source: AUDIOVOX CORP, 10-K, May 14, 2008