Audiovox 2008 Annual Report Download - page 125

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Audiovox Specialized Applications, LLC And Subsidiary
(A Limited Liability Company)
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, 2007 and 2006:
2007
Gross Gross
Unrealized Unrealized Fair
Cost Gains Losses Value
Government bonds $ 4,900,000 $ - $ - $ 4,900,000
2005
Gross Gross
Unrealized Unrealized Fair
Cost Gains Losses Value
Government bonds $ 3,570,000 $ - $ - $ 3,570,000
The cost and fair value of debt securities by contractual maturities as of November 30, 2007 are as follows:
Fair
Cost Value
Due after three years $ 4,900,000 $ 4,900,000
Expected maturities may differ from contractual maturities because the issuers of certain debt securities have the right to prepay their
obligations without penalty. The investments consist of variable rate municipal bonds containing put options of 7 days or less. The
put option and variable rate allow the bonds to trade at face value.
A summary of proceeds from the sale of available-for-sale securities and investment earnings for the years ended November 30, 2007,
2006, and 2005 is as follows:
2007 2006 2005
Proceeds from the sale of available-for-sale securities $ 10,870,000 $ 19,529,850 $ 5,435,000
Interest earned 103,449 292,623 204,707
11
Source: AUDIOVOX CORP, 10-K, May 14, 2008