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AUDIOVOX CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME (LOSS)
YEARS ENDED NOVEMBER 30, 2003, 2004 AND 2005
(IN THOUSANDS, EXCEPT SHARE DATA)
ACCUMULATED
CLASS A OTHER TOTAL
AND CLASS COMPREHENSIVE STOCK−
PREFERRED B COMMON PAID−IN RETAINED INCOME TREASURY HOLDERS'
STOCK STOCK CAPITAL EARNINGS (LOSS) STOCK EQUITY
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
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
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
Comprehensive income (loss)
Net loss − − − (9,591) − − (9,591)
Foreign currency translation adjustment, net
of reclassification adjustment (see
disclosure below) − − − − (157) − (157)
Unrealized loss on marketable securities, net
of tax effect of $190 − − − − (310) − (310)
−−−−−
Other comprehensive loss − − − − − − (467)
−−−−−
Comprehensive loss − − − − − − (10,058)
Exercise of stock options into 660,500 shares of
common stock − 6 7,686 − − − 7,692
Tax benefit of stock options exercised − − 1,357 − − − 1,357
Purchase of 150,000 shares of treasury stock − − − − − (2,037) (2,037)
Issuance of 1,205 shares of treasury stock − − 6 − − 10 16
−−−−−−−− − − − −−−−−−−− − −−−−−−−−−−− −−
Balances at November 30, 2005 $ 2,500 $ 237 $263,008 $ 148,244 $ (2,308) $(10,524) $ 401,157
Disclosure of reclassification amount: FISCAL 2004 FISCAL 2005
=========== ===========
Unrealized foreign currency translation gain
(loss) $ 2,233 $ (1,522)
Less: reclassification adjustments for gain
(loss) included in
net income (loss) 914 (1,365)
−−−−−−−−− −−− −−− −−−−−−−
Net unrealized foreign currency translation gain
(loss) $ 1,319 $ (157)
−−−−−−− −−−−−−−
SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
F−6