Audiovox 2005 Annual Report Download - page 85

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The following presents summary financial information for ASA. Such
summary financial information has been provided herein based upon the
individual significance of this unconsolidated equity investment to the
consolidated financial information of the Company.
NOVEMBER 30,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
2004 2005
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
Current assets $22,008 $24,526
Non−current assets 4,425 4,359
Current liabilities 4,710 4,739
Members' equity 21,723 24,146
YEARS ENDED NOVEMBER 30,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
2003 2004 2005
−−−−−−−−−−−−−− −−−−−−−−−−−−−−− −−−−−−−−−−−−−−−−
Net sales $47,818 $56,988 $49,795
Gross profit 11,185 14,540 11,877
Operating income 5,754 7,257 4,512
Net income 5,895 7,304 4,716
The Company's share of income from ASA for fiscal 2003, 2004 and 2005
was $2,948, $3,652 and $2,358, respectively. In addition, the Company
received distributions from ASA totaling $1,316, $4,131 and $1,147
during the years ended November 30, 2003, 2004 and 2005, respectively.
(7) Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consists of the
following:
NOVEMBER 30,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
2004 2005
−−−−−−−−−−−−− −−−−−−−−−−−−
Commissions $ 1,388 $ 1,052
Employee compensation 6,079 4,079
Professional fees and accrued settlements 4,746 1,906
Future warranty 7,947 6,142
Freight and duty 2,873 3,163
Other taxes payable 587 880
Royalties, advertising and other 9,194 7,352
−−−−− −−−−− −−−− −−−−−
$ 32,814 $ 24,574
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