|
Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
|
Jun. 30, 2011
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| Summary of Significant Accounting Policies [Abstract] |
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| Earnings per Share |
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|
|
|
|
|
|
|
|
|
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|
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|
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For the Three Months |
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For the Six Months |
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Ended June 30, |
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Ended June 30, |
|
| (in thousands, except per share data) |
|
2011 |
|
|
2010 |
|
|
2011 |
|
|
2010 |
|
|
Net income available to common stockholders
|
|
$ |
173,319 |
|
|
$ |
15,272 |
|
|
$ |
251,440 |
|
|
$ |
56,870 |
|
|
Effect of assumed conversions
|
|
|
9,625 |
|
|
|
— |
|
|
|
19,250 |
|
|
|
— |
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|
|
|
|
|
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|
|
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Net income available to common stockholders
and assumed conversions
|
|
$ |
182,944 |
|
|
$ |
15,272 |
|
|
$ |
270,690 |
|
|
$ |
56,870 |
|
|
|
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|
|
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Average common shares outstanding-basic
|
|
|
3,744,375 |
|
|
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3,683,595 |
|
|
|
3,739,731 |
|
|
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3,682,750 |
|
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Dilutive effect of equity instruments
|
|
|
3,059,922 |
|
|
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2,680,360 |
|
|
|
3,050,998 |
|
|
|
2,674,757 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Average common shares outstanding-diluted
|
|
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6,804,297 |
|
|
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6,363,955 |
|
|
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6,790,729 |
|
|
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6,357,507 |
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|
|
|
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|
|
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|
|
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Net income per common share
|
|
|
|
|
|
|
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|
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Basic
|
|
$ |
0.05 |
|
|
$ |
0.00 |
|
|
$ |
0.07 |
|
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$ |
0.02 |
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|
|
|
|
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|
|
|
|
|
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Diluted
|
|
$ |
0.03 |
|
|
$ |
0.00 |
|
|
$ |
0.04 |
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$ |
0.01 |
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| Accounts Receivable |
Accounts receivable, net, consists of the following:
| |
|
|
|
|
|
|
|
|
| |
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June 30, |
|
|
December 31, |
|
| |
|
2011 |
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|
2010 |
|
|
Gross accounts receivable
|
|
$ |
112,661 |
|
|
$ |
131,880 |
|
|
Allowance for doubtful accounts
|
|
|
(11,827 |
) |
|
|
(10,222 |
) |
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|
|
|
|
|
|
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Total accounts receivable, net
|
|
$ |
100,834 |
|
|
$ |
121,658 |
|
|
|
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|
|
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| Receivables From Distributors |
Receivables from distributors include billed and unbilled amounts due from OEMs for radio
services included in the sale or lease price of vehicles, as well as billed amounts due from
retailers. Receivables from distributors consist of the following:
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|
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June 30, |
|
|
December 31, |
|
| |
|
2011 |
|
|
2010 |
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Billed
|
|
$ |
43,997 |
|
|
$ |
30,456 |
|
|
Unbilled
|
|
|
37,017 |
|
|
|
37,120 |
|
|
|
|
|
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Total
|
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$ |
81,014 |
|
|
$ |
67,576 |
|
|
|
|
|
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| Inventory |
Inventory, net, consists of the following:
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June 30, |
|
|
December 31, |
|
| |
|
2011 |
|
|
2010 |
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Raw materials
|
|
$ |
25,870 |
|
|
$ |
18,181 |
|
|
Finished goods
|
|
|
27,430 |
|
|
|
24,492 |
|
|
Allowance for obsolescence
|
|
|
(20,983 |
) |
|
|
(20,755 |
) |
|
|
|
|
|
|
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Total inventory, net
|
|
$ |
32,317 |
|
|
$ |
21,918 |
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