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Emmerson Radio designs and markets throughout the world, full lines of televisions and other video products, microwave ovens, audo, car auto and home theater products. A year ago MSN stock was selling at $3.00, recently it fell to $.56 due to restructuring and decreasing sales and increasing losses. In this past nine months the company has made some interesting changes to turn the company around. MSN purchased 27 percent of Sport Supply (NYSE-GYM) which is considered a leading direct marketer of sporting goods and equipment. Also on April 22,1997 MSN signed a four year agreement with Daewoo Electronics, ltd. and its U.S. affiliate. Daewoo will be responsible for all aspects of product development and manufacturing as well as after-sales services. MSN will handle all sales and marketing of TV and video products to U.S. retailers. MSN believes this to be beneficial along with encourging acceptance of MSN's proprietary Cinema-Surround Home Theater product. This change for MSN along with the expected profits from their 27 percent of Sport Supply Group, inc. subsidiary, MSN expects to return to profitability in this fiscal year. MSN was a Hot-Line pick in June 97 and also in July 97 of Bill Mathews, who writes the Cheap Investor News Letter, also a BUY RECOMENDATION in The Cheap Investor News Letter in the July 97 issue at $.63. The Cheap Investor stated that MSN management is bringing the company back on track and these recent agreements could GREATLY benefit MSN's bottom line. That MSN certainly has the potentail to move up significantly from the current price of $.63. |
