Audiovox 2006 Annual Report Download - page 83

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Audiovox Corporation and Subsidiaries
Notes to Consolidated Financial Statements, continued
February 28, 2007
(Dollars in thousands, except share and per-share data)
18) Unaudited Quarterly Financial Data
Selected unaudited, quarterly financial data of the Company for the years ended February 28,
2007, the three months ended February 28, 2006 and year ended November 30, 2005 appears
below:
Quarter Ended
May 31,
2006 Aug. 31,
2006 Nov. 30,
2006 Feb. 28,
2007
2007
Net sales ................................... $111,299 $97,424 $151,833 $96,134
Gross profit................................. 20,099 15,754 25,371 18,095
Income (loss) from continuing operations....... 1,782 (1,633) 3,848 (305)
(Loss) income from discontinued operations .... (260) (322) 6 (180)
Net income (loss)............................ $ 1,522 $(1,955) $ 3,854 $ (485)
Income (loss) per common share (basic):
From continuing operations................. $ 0.08 $ (0.07) $ 0.17 $ (0.01)
From discontinued operations ............... (0.01) (0.02) — (0.01)
Net income (loss) per common share (basic) .... $ 0.07 ($ 0.09) $ 0.17 $ (0.02)
Income (loss) per common share (diluted):
From continuing operations................. $ 0.08 $ (0.07) $ 0.17 $ (0.01)
From discontinued operations ............... ($ 0.01) (0.02) — (0.01)
Net income (loss) per common share (diluted) . . $ 0.07 $ (0.09) $ 0.17 $ (0.02)
Quarter Ended
Feb. 28,
2005 May 31,
2005 Aug. 31,
2005 Nov. 30,
2005 Feb. 28,
2006
2006
Net sales.................................. $115,980 $144,509 $122,937 $156,290 $103,050
Gross profit ............................... 16,071 22,799 12,265 9,704* 15,650
(Loss) income from continuing operations ....... (552) 5,762 (3,591) (8,306) 367
Loss from discontinued operations ............. (653) (135) (126) (1,990) (184)
Net (loss) income .......................... $ (1,205) $ 5,627 $ (3,717) $(10,296) $ 183
Income (loss) per common share (basic):
From continuing operations ................. $ (0.02) $ 0.26 $ (0.16) $ (0.37) $ 0.02
From discontinued operations ............... (0.03) — (0.01) (0.09) (0.01)
Net (loss) income per common share (basic) ..... $ (0.05) $ 0.26 $ (0.17) $ (0.46) $ 0.01
Income (loss) per common share (diluted):
From continuing operations ................. $ (0.02) $ 0.26 $ (0.16) $ (0.37) $ 0.02
From discontinued operations ............... (0.03) (0.01) (0.01) (0.09) (0.01)
Net (loss) income per common share (diluted) .... $ (0.05) $ 0.25 $ (0.17) $ (0.46) $ 0.01
* Includes one time inventory writedown (See Note 1(h)).
F-43