The Singing Machine Company, Inc. (OTCQX: SMDM) recorded revenue growth of 9% to $49.3 million for the nine months ended December 31, 2016, compared to $45.2 million for the comparable period in 2015 (http://nnw.fm/u7k9T). For the quarter ended December 31, 2016, sales dropped to $16.3 million compared to $20.7 million during the same period of the prior year. The company said that drop was due to the timing of shipments, which occurred earlier in 2016 than the prior year.
Singing Machine makes a line of karaoke products, offering the consumer access to some 1,300 songs. The music can either be downloaded or streamed. The Singing Machine home line is available in North America or internationally through mass merchant and online retailers. The company is also entering the toy business with…
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