Audiovox 2004 Annual Report Download - page 60

AUDIOVOX CORPORATION AND SUBSIDIARIES
Consolidated Statements of Stockholders' Equity and Comprehensive Income (Loss)
Years Ended November 30, 2002, 2003 and 2004
(In thousands, except share data)
Accum−
ulated
Class A other
and compre− Total
Class B hensive stock−
Preferred common Paid−in Retained income Treasury holders'
stock stock capital earnings (loss) stock equity
−−−−−−−−− −−−−−−−−− −−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−−
Balances at November 30, 2001 $ 2,500 $ 229 $ 250,785 $ 83,436 $ (6,344) $ (7,386) $ 323,220
Comprehensive loss:
Net loss −− −− −− (14,040) −− −− (14,040)
Other comprehensive income, net of tax:
Foreign currency translation adjustment −− −− −− −− 904 −− 904
Unrealized gain on marketable securities,
net of tax effect of $260 −− −− −− −− 422 −− 422
−−−−−−−−−−
Other comprehensive income −− −− −− −− −− −− 1,326
−−−−−−−−−−
Comprehensive loss −− −− −− −− −− −− (12,714)
Exercise of stock options into 16,336 shares
of common stock −− −− 132 −− −− −− 132
Repurchase of 163,200 shares of common stock −− −− −− −− −− (1,125) (1,125)
−−−−−−−−− −−−−−−−−− −−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−−
Balances at November 30, 2002 2,500 229 250,917 69,396 (5,018) (8,511) 309,513
Comprehensive income:
Net income −− −− −− 11,239 −− −− 11,239
Other comprehensive income, net of tax:
Foreign currency translation adjustment −− −− −− −− 2,055 −− 2,055
Unrealized gain on marketable securities,
net of tax effect of $1,063 −− −− −− −− 1,734 −− 1,734
−−−−−−−−−−
Other comprehensive income −− −− −− −− −− −− 3,789
−−−−−−−−−−
Comprehensive income −− −− −− −− −− −− 15,028
Exercise of stock options into 96,200 shares of
common stock −− −− 674 −− −− −− 674
Tax benefit of stock options exercised −− −− 216 −− −− −− 216
Issuance of stock warrants −− −− 297 −− −− −− 297
−−−−−−−−− −−−−−−−−− −−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−−
Balances at November 30, 2003 2,500 229 252,104 80,635 (1,229) (8,511) 325,728
Comprehensive income:
Net income −− −− −− 77,200 −− −− 77,200
Other comprehensive loss, net of tax:
Foreign currency translation adjustment,
net of reclassification adjustment
(see disclosure below) −− −− −− −− 1,319 −− 1,319
Unrealized loss on marketable securities,
net of tax effect of $1,184 −− −− −− −− (1,931) −− (1,931)
−−−−−−−−−−
Other comprehensive loss −− −− −− −− −− −− (612)
−−−−−−−−−−
Comprehensive income −− −− −− −− −− −− 76,588
Exercise of stock options into 131,464 shares of
common stock −− 2 1,522 −− −− −− 1,524
Tax benefit of stock options exercised −− −− 227 −− −− −− 227
Extension and re−measurement of stock options −− −− 98 −− −− −− 98
Issuance of 1,780 shares of treasury stock −− −− 8 −− −− 14 22
−−−−−−−−− −−−−−−−−− −−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−− −−−−−−−−−−
Balances at November 30, 2004 $ 2,500 $ 231 $ 253,959 $ 157,835 $ (1,841) $ (8,497) $ 404,187
========= ========= ========= ========== ========== ========== ==========
Disclosure of reclassification amount:
Unrealized foreign currency translation gain $ 2,233
Less: reclassification adjustments for gain
included in net income (914)
−−−−−−−−−−
Net unrealized foreign currency translation gain $ 1,319
==========
See accompanying notes to consolidated financial statements.
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