| Business Summary | | The
Singing
Machine
Company,
Inc.
is
engaged
in
the
distribution
and
marketing
of
electronic
karaoke
audio
equipment
which
plays
backing
tracks
(music
without
lyrics)
of
popular
songs
and
records
the
vocal
accompaniment
of
professional
and
amateur
singers
to
those
backing
tracks.
The
Company
contracts
for
the
manufacture
of
all
electronic
equipment
products
with
manufacturers
located
in
the
Far
East.
The
Company
also
produces
and
markets
karaoke
music,
including
CD
plus
graphics,
and
audiocassette
tapes
containing
music
and
lyrics
of
popular
songs
for
use
with
karaoke
recording
equipment.
One
track
of
those
tapes
offers
complete
music
and
vocals
for
practice
and
the
other
track
is
instrumental
only
for
performance
by
the
participant.
Virtually
all
audiocassette
music
sold
by
the
Company
is
accompanied
by
printed
lyrics,
and
its
karaoke
CD's
with
graphics
contain
lyrics,
which
appear
on
the
video
screen. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | SMD
is
engaged
in
the
distribution
and
marketing
of
electronic
KARAOKE
audio
equipment
which
plays
backing
tracks
of
popular
songs
and
records
the
vocal
accompaniment.
SING
also
produces
and
markets
KARAOKE
audio
software.
For
the
three
months
ended
6/30/01,
net
sales
fell
9%
to
$5.5
million.
Net
loss
totaled
$26
thousand
vs.
an
income
of
$408
thousand.
Results
reflect
a
delay
in
the
production
of
four
products
and
increased
payroll
and
Hong
Kong
office
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2001 Pay | |
| Edward Steele, 71 Chairman,
CEO | $585K | John Klecha, 50 Pres,
COO, Chief Financial Officer, Sec., Treasurer, Director | 467K | Dollar
amounts are as of 31-Mar-2001 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|