Note 10. Equity Investments Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Equity Method Investments Disclosure [Text Block]

Equity Investments

As of November 30, 2011 and February 28, 2011, the Company had a 50% non-controlling ownership interest in Audiovox Specialized Applications, Inc. (“ASA”), which acts as a distributor of televisions and other automotive sound, security and accessory products for specialized vehicles, such as RV’s and van conversions.

The following table presents summary financial information for ASA. Such summary financial information has been provided herein based upon the individual significance of ASA to the consolidated financial information of the Company.



	November 30, 2011		February 28, 2011
Current assets	$	30,311	$	24,521
Non-current assets	5,017		5,240
Current liabilities	5,867		4,233
Members' equity	29,461		25,528
	Nine Months Ended November 30,
	2011		2010
Net sales	$	55,817	$	53,379
Gross profit	16,686		13,902
Operating income	6,487		4,654
Net income	6,509		4,695

The Company's share of income from ASA for the nine months ended November 30, 2011 and 2010 was $3,255 and $2,348, respectively.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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