EXHIBIT 99.1
[EMERSON LOGO]
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NEWS & INFORMATION
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FOR: EMERSON RADIO CORP.
9 Entin Road
Parsippany, NJ 07054-0430
CONTACT: EMERSON RADIO CORP. OR: INVESTOR RELATIONS:
Guy A. Paglinco Laura Boorn
Vice President, Investor Relations Manager
Chief Financial Officer (972) 884-2302
(973) 428-2085
EPOCH FINANCIAL GROUP, INC.
Victor Thompson or
Todd Atenhan
(888) 917-5105
Tuesday, January 18, 2005
FOR IMMEDIATE RELEASE
EMERSON RADIO CORP. REPORTS PRELIMINARY NET REVENUE GROWTH FOR THE THREE AND
NINE MONTHS ENDED DECEMBER 31, 2004 WITH INCREASES OF 24.0% AND 19.7%
PARSIPPANY, N.J. - January 18, 2005 - Emerson Radio Corp. (AMEX:MSN) today
reported preliminary net revenues for the quarter ended December 31, 2004 of
approximately $94.6 million as compared to net revenues of approximately $76.3
million for the quarter ended December 31, 2003, or an increase of approximately
24.0% over the prior year. On a year to date basis, preliminary net revenues
increased to approximately $250.7 million for the nine months ended December 31,
2004 as compared to net revenues of approximately $209.4 million for the nine
months ended December 31, 2003, or approximately a 19.7% increase. The Company
has not completed the preparation of its financial statements for the quarter
ended December 31, 2004 and additional details with respect to results of
operations for the three and nine months ended December 31, 2004 are not yet
available. The Company plans to release financial results for the three and nine
months ended December 31, 2004 through a press release in early February 2005.
(more)
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Emerson Radio News Release Page 2
January 18, 2005
Emerson Radio Corp. (AMEX:MSN) founded in 1948, is headquartered in Parsippany,
N.J. The Company designs, markets and licenses, throughout the world, full lines
of televisions and other video products, microwaves, clocks, radios, audio and
home theater products. Its 53.2% owned subsidiary, Sport Supply Group, Inc.
(OTC:SSPY) is a direct marketer of sports-related equipment and leisure products
to the institutional market, including schools, colleges, universities,
government agencies, military facilities, athletic clubs, athletic teams and
dealers, youth sports leagues and recreational organizations. Emerson's web site
is www.emersonradio.com
The preliminary net revenues contained in this news release are subject to
finalization in connection with the preparation of the Company's Form 10-Q for
the quarter ended December 31, 2004. This release also contains "forward-looking
statements" made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, such as the Company's outlook for
third quarter 2004 net revenues. Forward-looking statements reflect management's
current knowledge, assumptions, judgment and expectations regarding future
performance or events. Although management believes that the expectations
reflected in such statements are reasonable, they give no assurance that such
expectations will prove to be correct and you should be aware that actual
results could differ materially from those contained in the forward-looking
statements. Forward-looking statements are subject to a number of risks and
uncertainties, including the risk factors detailed in the Company's reports as
filed with the Securities and Exchange Commission. The Company assumes no
obligation to update the information contained in this news release.
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