Emerson Radio Corp. is a North American-focused consumer electronics and houseware product company, sourcing mainly from China and selling through major retailers like Amazon and Walmart.

# Emerson Radio Corp. Company Summary

## Business Overview
- **Core Business**: Designs, sources, imports, markets, and licenses a variety of houseware and consumer electronic products under the **Emerson®** brand name.
- **Product Categories**: 
  - Houseware Products: Microwave ovens, compact refrigerators, toasters, heaters, fans, Massagers, and security products.
  - Audio Products: Clock radios, Bluetooth speakers, karaoke machines.
  - Other: Televisions, wireless charging devices, and miscellaneous consumer electronics.

## Operations & Distribution
- **Market Focus**: Entirely in North America, specifically the United States, Canada, and Mexico.
- **Sales Channels**: 
  - Primarily through mass merchandisers and online marketplaces.
  - Major customers include Amazon, Walmart, Fred Meyer, and Big Lots.
- **Customer Concentration**:
  - As of fiscal year ending March 31, 2025:
    - Amazon: ~39% of net revenue
    - Walmart: ~31% of net revenue
- **Trade Accounts Receivable (as of fiscal year ending March 31, 2025)**:
  - Amazon: ~59% of total receivables
  - Variety Wholesalers: ~19%
- **Product Import & Sales**:
  - All products sourced mainly from Asian suppliers, predominantly China.
  - **Import programs** involve transferring titles either in the country of origin (China) or upon shipment in the U.S.
  - Sales are recognized at the point of title transfer: in China for import program, at shipment for domestic.

## Employees
- Total employees as of June 18, 2025: **23 employees**
  - U.S.: 9 employees
  - China: 14 employees
- No employees are represented by unions.

## Revenue & Income
- **Fiscal Year Ending March 31, 2025**:
  - Net product sales: **$10.45 million**
  - Licensing revenue: **$336,000**
  - Royalty income: **$0** (compared to $175,000 in 2024)
  - Total Net Revenues: **$10.785 million**
  - Operating Loss: **$5.615 million**
  - Net Loss: **$4.731 million**
  - Interest Income, Net: **$887,000**
- **Fiscal Year Ending March 31, 2024**:
  - Net product sales: **$8.68 million**
  - Licensing revenue: **$218,000**
  - Royalty income: **$175,000**
  - Total Net Revenues: **$9.07 million**
  - Operating Loss: **$3.399 million**
  - Net Income: **$766,000**
  - Interest Income, Net: **$1.155 million**

## Trademarks & Licensing
- Main trademarks include **Emerson®**, **Emerson Research®**, and others like **Ölevia®** and **Scott®**.
- Licenses are granted to third parties for manufacturing/selling under the Emerson trademarks, involving minimum guaranteed royalties or royalties based on sales.

## Key Points
- The company is a **smaller reporting company** and classified as a **non-accelerated filer**.
- It is a **controlled company** with **approximately 72.4% ownership** by Nimble Holdings through its subsidiaries.
- **Market Value**: As of September 30, 2024, the market value of its publicly traded stock (NYSE American) was approximately **$2.958 million**.
- **Total Outstanding Shares**: As of June 27, 2025, there are **21,042,652** common shares outstanding.

## Summary
Emerson Radio Corp. is a North American-focused consumer electronics and houseware product company, primarily sourcing products from China, selling mainly to Amazon and Walmart, with significant customer concentration risk. It owns and licenses various trademarks, with a small team of 23 employees, and reported a net loss of about $4.73 million in fiscal 2025.

Emerson Radio Corp. designs and markets home appliances and consumer electronic products, leveraging strong brand recognition and distribution channels primarily in the U.S. and Mexico.

# Company Overview: Emerson Radio Corp.

## Business Model
Emerson Radio Corp. designs, sources, imports, and markets a variety of houseware and consumer electronic products. The company also licenses its trademarks to others for a range of products globally. 

### Core Competencies
Emerson's competitive advantages include:
- **Brand Recognition**: The well-established Emerson® brand.
- **Distribution Network**: Strong relationships with distributors and mass merchandisers in the retail sector.
- **Sourcing Expertise**: Established vendor relations and experience in product sourcing.
- **Logistical Support**: An infrastructure capable of servicing domestic mass merchants and overseeing third-party logistics.
- **Licensing Agreements**: Extensive experience in establishing licensing relationships worldwide.

## Product Categories
Emerson's product offerings are divided into three main categories:
- **Houseware Products**: 
  - Microwave Ovens
  - Compact Refrigerators
  - Toaster Ovens
- **Audio Products**: 
  - Clock Radios
  - Bluetooth Speakers
  - Karaoke Machines
- **Other Products**: 
  - Televisions
  - Security Products
  - Wireless Charging Devices
  - Massagers

## Market and Distribution
- **Primary Markets**: The company primarily operates in the United States and Mexico.
- **Sales Channels**: Emerson’s products are marketed mainly through mass merchants and online marketplaces.
- **Significant Customers**: 
  - Walmart: 53% of net revenues in fiscal year 2024
  - Amazon: 20% of net revenues in fiscal year 2024
  - Fred Meyer: 10% of net revenues in fiscal year 2024
  
  During fiscal 2023, the distribution was similarly concentrated with Walmart (42%), Amazon (23%), and Fred Meyer (12%).

### Revenue and Financials
- The company reported **net revenues** of approximately $X million for fiscal year 2024 (specific revenue figures not provided in the document).
- **Trade Accounts Receivable**: As of March 31, 2024, Walmart, Chedraui, and Amazon represented 34%, 30%, and 25%, respectively, of total trade accounts receivable.

## Employee Base
- Emerson Radio Corp. employs **25 individuals** as of June 14, 2024. This includes 10 employees in the United States and 15 in China.

## Business Operations
- Emerson operates with a dynamic inventory system to manage product orders, with **approximately 40%** of net revenues derived through third-party sales representatives.
- These third-party organizations are permitted to sell competitive products alongside Emerson's offerings and could account for 40% of sales in fiscal years 2024 and 2023.

## Licensing Activities
- The company has established licensing agreements with third parties to manufacture and sell products under the company's trademarks, benefiting from minimal incremental costs and no significant working capital requirements.

## Manufacturing and Suppliers
- **Manufacturing Sources**: All products are sourced from original equipment manufacturers based in China, reinforcing the dependency on a limited number of suppliers.
  
- Major suppliers in fiscal 2024 accounted for:
  - Welly (38%), 
  - Itoma (24%), 
  - Maniway (17%), 
  - Midea (16%).

Emerson considers its supplier relationships satisfactory despite the inherent risks of reliance on a few key manufacturers.

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This summary encapsulates key operational details about Emerson Radio Corp., including its business model, product offerings, market presence, financial characteristics, workforce, and supplier dependencies. Specific numerical figures such as revenues and income were not disclosed in the provided information.

EMERSON RADIO CORP

10-K / June 27, 2025

10-K / June 27, 2024

10-K / June 27, 2025

Emerson Radio Corp. Company Summary

Business Overview

Operations & Distribution

Employees

Revenue & Income

Trademarks & Licensing

Key Points

Summary