TEMPE, Ariz. (AP) -- Syntax-Brillian Corp. Chief Executive James Li cut his salary to $1 a year, the struggling LCD-television maker said Tuesday.

Syntax, which makes the Olevia brand high-definition TV, said Li volunteered for the pay cut to show his commitment to turning around the company. The company has seen declining television sales and eroding cash flow that has made it difficult to finance operations.

In the company's regulatory filing outlining compensation for 2007, Li received a salary of $261,635 in his role as president and chief operating officer. He took over the CEO role in October and retained the president title; salary information for those posts is not available.

Syntax shares rose 12 cents, or 12 percent, to $1.12 in morning trading. The stock has ranged from 70 cents to $8.78 in the past 12 months.