$SMDM Singing Machine Announces Third Quarter 201
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Posted On: 02/14/2019 8:16:05 AM
$SMDM Singing Machine Announces Third Quarter 2018 Earnings Report
FORT LAUDERDALE, Fla., Feb. 14, 2019 -- via NEWMEDIAWIRE -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the worldwide leader in consumer karaoke products – today announced its financial results for its third quarter ended December 31, 2018.
Third Quarter Snapshot:
Net sales of $19.5 million for the quarter ended December 31, 2018.
Gross margin improved by 1% from 27.9% to 28.9%.
Inventory for quarter-end reduced by $2.5M from March 31, 2018.
Income from operations of $1.8M.
Net Income improved to $1.3M for the quarter ($0.03 per share).
56% increase in music subscription revenue YoY.
Read More: http://app.quotemedia.com/quotetools/newsStor...topic=SMDM
http://www.thestreetnow.com/spotlight/smdm/
FORT LAUDERDALE, Fla., Feb. 14, 2019 -- via NEWMEDIAWIRE -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the worldwide leader in consumer karaoke products – today announced its financial results for its third quarter ended December 31, 2018.
Third Quarter Snapshot:
Net sales of $19.5 million for the quarter ended December 31, 2018.
Gross margin improved by 1% from 27.9% to 28.9%.
Inventory for quarter-end reduced by $2.5M from March 31, 2018.
Income from operations of $1.8M.
Net Income improved to $1.3M for the quarter ($0.03 per share).
56% increase in music subscription revenue YoY.
Read More: http://app.quotemedia.com/quotetools/newsStor...topic=SMDM
http://www.thestreetnow.com/spotlight/smdm/
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