Audiovox 2004 Annual Report Download - page 139
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Audiovox Specialized Applications, LLC And Subsidiary
Notes To Financial Statements
Note 2. Available−For−Sale Securities
The following is a summary of the Company's investment securities as of November
30, 2004 and 2003:
2004
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Gross Gross
Amortized Unrealized Unrealized Fair
Cost Gains Losses Value
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Government bonds $ 5,435,000 $ − $ − $ 5,435,000
=========== ========== ========== ===========
2003
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Gross Gross
Amortized Unrealized Unrealized Fair
Cost Gains Losses Value
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Equity securities $ 1,378,779 $ − $ − $ 1,378,779
Corporate bonds 635,000 − − 635,000
−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−− −−−−−−−−−−−−−
$ 2,013,779 $ − $ − $ 2,013,779
============= ============ =========== =============
The amortized cost and fair value of debt securities by contractual maturities
as of November 30, 2004 are as follows:
Amortized Fair
Cost Value
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Due after three years $ 5,435,000 $ 5,435,000
================= ==============
Expected maturities may differ from contractual maturities because the issuers
of certain debt securities have the right to prepay their obligations without
penalty.
A summary of proceeds from the sale of available−for−sale securities and
investment earnings for the years ended November 30, 2004, 2003, and 2002 is as
follows:
2004 2003 2002
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Proceeds from the sale of available−for−sale securities $ 2,013,779 $ 7,446,218 $ 965,000
============= ============= =============
Realized (losses) on sale of marketable securities $ (2,056) $ (24,226) $ −
Interest earned 50,668 123,639 130,370
Dividends − 43,175 −
−−−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
$ 48,612 $ 142,588 $ 130,370
============= ============= =============
Exhibit 99.1
10