Audiovox 2000 Annual Report Download - page 24

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Accumulated
Other Gain on
Compre- Unrealized Hedge of
Unearned hensive Gain on Available- Total
(In thousands, Preferred Common Paid-In Compen- Retained Income Equity for-Sale Treasury Stockholders’
except share data) Stock Stock Capital sation Earnings (Loss) Collar Securities Stock Equity
Balances at November 30, 1997 $2,500 195 145,240 (85) 32,924 8,766 773 — (2,421) 187,892
Comprehensive loss:
Net income — — — — 2,972 — — — — 2,972
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment — — — — — (2,276) — — — (2,276)
Unrealized loss on marketable
securities, net of tax effect of $4,928 — — — — — (8,040) — — — (8,040)
Other comprehensive loss (10,316)
Comprehensive loss (7,344)
Compensation expense (income) — — (23) 76 — — — — — 53
Options and non-performance-restricted
stock forfeitures due to employee terminations — — (9) 9 — — — — — —
Purchase of warrants — — (1,869) — — — — — — (1,869)
Acquisition of 208,055 common shares — — — — — — — — (1,168) (1,168)
Sale of equity collar, net of tax effect of $1,043 — — — — — — (773) 929 — 156
Balances at November 30, 1998 2,500 195 143,339 — 35,896 (1,550) — 929 (3,589) 177,720
Comprehensive income:
Net income — — — — 27,246 — — — — 27,246
Other comprehensive income, net of tax:
Foreign currency translation adjustment — — — — — 940 — — — 940
Unrealized gain on marketable securities,
net of tax effect of $3,540 — — — — — 5,775 — — — 5,775
Other comprehensive income 6,715
Comprehensive income 33,961
Compensation expense (income) — — 158 — — — — — — 158
Exercise of stock options into 364,550 shares
of common stock and issuance of 39,305
shares under the Restricted Stock Plan — 4 2,775 — — — — — — 2,779
Tax benefit of stock options exercised — — 1,101 — — — — — — 1,101
Conversion of debentures into 70,565 shares — 1 1,248 — — — — — — 1,249
Issuance of warrants — 1 662 — — — — — — 663
Purchase of warrants — — (5) — — — — — — (5)
Acquisition of 122,982 common shares — — — — — — — — (882) (882)
Balances at November 30, 1999 2,500 201 149,278 — 63,142 5,165 — 929 (4,471) 216,744
Comprehensive income:
Net income — — — — 27,229 — — — — 27,229
Other comprehensive loss, net of tax: — — — — — — — — —
Foreign currency translation adjustment — — — — — (104) — — — (104)
Unrealized loss on marketable securities,
net of tax effect of $(6,202) — — — — — (10,119) — — — (10,119)
Other comprehensive loss — — — — — — — — — (10,223)
Comprehensive income — — — — — — — — — 17,006
Exercise of stock options into 121,300 shares of
common stock and issuance of 11,671 shares
under the Restricted Stock Plan — 1 836 — — — — — — 837
Tax benefit of stock options exercised — — 1,270 — — — — — — 1,270
Conversion of debentures into 30,170 shares — 1 534 — — — — — — 535
Issuance of 2,300,000 shares in connection
with stock offering — 23 96,550 — — — — — — 96,573
Acquisition of 141,455 common shares — — — — — — — — (1,533) (1,533)
Recognition of gain on hedge of
available-for-sale securities — — — — — — — (929) — (929)
Balances at November 30, 2000 $2,500 226 248,468 — 90,371 (5,058) — — (6,004) 330,503
See accompanying notes to consolidated financial statements.
22
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
Years Ended November 30, 1998, 1999 and 2000