SOURCE: Emerson Radio Corp.

March 20, 2007 07:30 ET

Emerson Radio Files Form 10-Q for Third Quarter and Receives Waiver From Lender; Company Expects to Regain Compliance With AMEX Listing Requirements

PARSIPPANY, NJ -- (MARKET WIRE) -- March 20, 2007 -- Emerson Radio Corp. (AMEX: MSN) announced today that it filed its Quarterly Report on Form 10-Q for its fiscal quarter ended December 31, 2006 with the Securities and Exchange Commission on March 16, 2007. Results for the period were consistent with preliminary results reported in its press release, dated February 21, 2007, and the Form 8-K filed on such date. As a result of the filing of the Form 10-Q, the Company believes that it will be able to regain compliance with the listing requirements of the American Stock Exchange.

As disclosed in its Form 10-Q filed on March 16, 2007, the Company has entered into an amendment to its credit facility with its lender under which the Company secured a waiver related to previously disclosed related party transactions. Details of the amendment are more fully described in the Company's Form 10-Q.

Emerson Radio Corp. (AMEX: MSN), founded in 1948, is headquartered in Parsippany, N.J. Emerson designs, markets and licenses, worldwide, full lines of televisions and other video products, microwaves, clocks, radios, audio and home theater products. Emerson's web site is

This release contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 Emerson's reports as filed with the Securities and Exchange Commission. Emerson assumes no obligation to update the information contained in this news release.

Contact Information

    Emerson Radio Corp.
    Greenfield Pitts
    Chief Financial Officer
    (212) 521-4344


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