AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Singing Machine hits high notes, record profits. (Keeping Company).(Brief Article)(Statistical Data Included)
* News: Following a report of record profits on Oct. 30, Singing Machine's shares hit a new 52-week high of $15 on Nov. 14. The company said in a release that fiscal second-quarter earnings rose 86 percent on strong sales of sing-along machines.
Net income was a record $2.33 million or 44 cents a share compared with $1.25 million or 25 cents a share in the same quarter last year.
Revenue from the sale of electronic karaoke equipment and related audio software rose to a record $15.75 million from $11.79 million a year earlier.
"All indications are that fiscal 2002 will be Singing Machine's best year ever," said John Klecha, president and COO. "Demand …
