Audiovox 2010 Annual Report Download - page 118

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Audiovox Specialized Applications, LLC and Subsidiary
(A Limited Liability Company)
Consolidated Statements of Income
November 30, 2009, 2008 and 2007
2009 2008 2007
Net sales $ 45,212,490 $ 60,421,895 $ 71,368,141
Cost of goods sold 36,913,059 49,920,774 56,006,751
Gross profit 8,299,431 10,501,121 15,361,390
Selling, general and administrative expenses 5,917,110 7,417,272 8,583,032
Operating income 2,382,321 3,083,849 6,778,358
Nonoperating income (expense):
Investment income 74,902 92,544 103,449
Interest expense - - (574)
74,902 92,544 102,875
Net income $ 2,457,223 $ 3,176,393 $ 6,881,233
See Notes to Financial Statements
5
Source: AUDIOVOX CORP, 10-K, May 14, 2010 Powered by Morningstar® Document Research℠