Audiovox 2001 Annual Report Download - page 30

Consolidated Statements of Stockholders’ Equity and
Comprehensive Income (Loss)
Years Ended November 30, 1999, 2000 and 2001
28 Audiovox Corporation and Subsidiaries
Accumulated
Other Gain on
Compre- Hedge of
hensive Available- Total
Preferred Common Paid-In Retained Income for-Sale Treasury Stockholders’
(In thousands, except share data) Stock Stock Capital Earnings (Loss) Securities Stock Equity
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
Comprehensive loss:
Net loss — — — (8,209) — — — (8,209)
Other comprehensive loss, net of tax:
Foreign currency translation adjustment — — — — (455) — — (455)
Unrealized loss on marketable
securities, net of tax effect of $(509) — — — — (831) — — (831)
Other comprehensive loss (1,286)
Comprehensive loss (9,495)
Exercise of stock options into 10,000 shares
of common stock — — 77 — — — — 77
Conversion of stock warrants into
314,800 shares
— 3 2,240 — — — — 2,243
Acquisition of 147,045 common shares — — — — — — (1,382) (1,382)
Balances at November 30, 2001 $2,500 $229 $250,785 $82,162 $ (6,344) $ — $(7,386) $321,946
See accompanying notes to consolidated financial statements.