The Singing Machine Company, Inc. (OTC QX: SMDM)
Market Cap: $22,477,341
Outstanding Shares: 38,259,303
The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) ( OTCQX : SMDM ) — the North American leader in consumer karaoke products — today announced its financial results for its third quarter ended December 31, 2016.
Third Quarter and Year-to-Date Highlights:
- Year-to-date earnings per share of $0.07; EBITDA earnings per share of $0.10.
- Gross margin for the quarter improved by 3.8% to 30.9%.
- Net sales year-to-date increased 9% to $49.3 million; net sales for the quarter decreased to $16.3 million based primarily on earlier timing of shipments.
- Net income before tax for the quarter held approximately the same to $1.9 million, compared to approximately $2.0 million in the same period last year.
- Year-to-date net income before tax increased 33% to approximately $4.0 million compared to approximately $3.0 million in the same period last year.
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Source: Uptick Newswire