Boston, MA 09/27/2013 (wallstreetpr) - Thomson Reuters downgraded Emerson Radio Corp (NYSEMKT:MSN) stock from a “buy” to a “hold” rating on Monday. In Thursday’s trading, Emerson Radio Corp (NYSEMKT:MSN) stock dropped by 0.52%. The opening price of the shares was $1.94 which climbed to an intraday high of $1.95 and dropped to a close of $1.91. Approximately 0.139 million shares were traded on Thursday and an average volume of 0.250 million shares was traded over a 30 day period. The 52- week low of the shares was $1.30 and the 52-week high was $2.17. The company has a market capitalization of 51.82 million.
Financial results
Recently, Emerson Radio Corp (NYSEMKT:MSN) reported its financial 2014 Q1 results. These showed a y-o-y drop of 46% in revenue. However, the revenue was up 7.4% in comparison to the earlier quarter. There was a 46% drop in gross margins and gross income dropped by 100bps year on year. At the end of the last reported-quarter, it had short term assets and cash of $61.3 million.
The company’s current assets totaled to $89.4M and the current liabilities stood at $15.5M. This amounts to a current-ratio of 5.8 and the quick ratio is 5.5. This means that the company does not face any solvency issues. In addition, the total liabilities stood at $15.7M. This also means that the company’s current assets cover its total liabilities 5.7 times over.
About the company
Emerson Radio Corp (NYSEMKT:MSN) is involved in designing, sourcing, importing and marketing different consumer electronic products and houseware. It licenses others on a global basis for different products. Directly and via its several subsidiaries, it is engaged in designing, sourcing, importing, marketing, selling and licensing to some licensees , numerous houseware and consumer electronic products. This is on an international and domestic basis under the Emerson Radio Corp (NYSEMKT:MSN) and HH Scott brands.