Audiovox 2008 Annual Report Download - page 128

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Audiovox Specialized Applications, LLC And Subsidiary
(A Limited Liability Company)
Notes To Financial Statements
The Company has a health plan for its employees, which is self-insured for medical and pharmaceutical claims up to $35,000 per
participant and approximately $423,000 annually in aggregate. The excess loss portion of the employees' coverage has been reinsured
with a commercial carrier.
Note 8. Litigation
The Company has pending legal proceedings. These proceedings are, in the opinion of management, ordinary routine matters
incidental to the normal business conducted by the Company. In the opinion of management, the ultimate disposition of such
proceedings are not expected to have a material adverse effect on the Company's consolidated financial position, results of operations
or cash flows.
Note 9. Major Customer
Net sales to a customer comprising 10% or more of total net sales for the year ended November 30, 2007 total approximately
$9,004,000. The related trade receivables balances due from that customer at November 30, 2007 were approximately
$442,000. There were no major customers for the years ended November 30, 2006 and 2005.
14
Source: AUDIOVOX CORP, 10-K, May 14, 2008