Is anyone looking at MSN?
Currently at 9/16
The word is, they will launching a website to sell their products.
Someone said they spoke to the CFO, and the CFO confirmed this.
I am going to call the company later today.
A year ago MSN was at $3.00, then 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.
BRIEF: Emerson Radio Corp. designs, sources, imports and markets a variety of televisions and other video products, microwave ovens, audio, home theater, specialty and other consumer electronic products. For the 26 weeks ended 10/2/98, net revenues rose 40% to $105.9M. Net income applicable to Common totalled $755K vs. a loss of $948K. Results reflect increases in unit sales of audio products and lower S/G/A expenses as a percentage of revenues.
Any opinions on this one?
Thanks in advance |
