2016 Q1 Form 10-Q Financial Statement

#000114420416080050 Filed on February 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2014 Q4
Revenue $1.198M $1.189M $1.066M
YoY Change 3.44% 11.58% -1.83%
Cost Of Revenue $1.132M $1.162M $1.104M
YoY Change 2.64% 5.3% -1.41%
Gross Profit $66.00K $30.00K -$37.96K
YoY Change 19.57% -179.02% 11.97%
Gross Profit Margin 5.51% 2.52% -3.56%
Selling, General & Admin $1.211M $1.379M $841.7K
YoY Change 25.52% 63.83% 0.15%
% of Gross Profit 1834.85% 4596.67%
Research & Development $183.0K $58.00K $140.6K
YoY Change 29.42% -58.76% -17.29%
% of Gross Profit 277.27% 193.33%
Depreciation & Amortization $140.0K $137.5K $135.2K
YoY Change 0.0% 1.74% -24.9%
% of Gross Profit 212.12% 458.44%
Operating Expenses $1.394M $1.437M $982.4K
YoY Change 26.02% 46.28% -2.78%
Operating Profit -$1.327M -$1.410M -$1.020M
YoY Change 26.26% 38.19% -2.3%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $132.0K $99.00K $113.4K
YoY Change 35.44% -12.67% -3.44%
Pretax Income -$1.200M -$1.310M -$910.0K
YoY Change 26.32% 43.96% -2.15%
Income Tax
% Of Pretax Income
Net Earnings -$1.195M -$1.312M -$907.0K
YoY Change 25.32% 44.66% -2.16%
Net Earnings / Revenue -99.75% -110.34% -85.11%
Basic Earnings Per Share
Diluted Earnings Per Share -$21.81K -$23.81K -$16.58K
COMMON SHARES
Basic Shares Outstanding 55.01M shares 55.01M shares 54.87M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.61M $12.60M $11.38M
YoY Change 14.27% 10.72% 158.05%
Cash & Equivalents $5.694M $679.0K $1.337M
Short-Term Investments $5.910M $11.92M $10.05M
Other Short-Term Assets $290.0K $220.0K $220.0K
YoY Change 31.82% 0.0% 37.5%
Inventory $457.3K $476.7K $411.4K
Prepaid Expenses
Receivables $880.0K $980.0K $797.4K
Other Receivables $5.098K $8.715K $10.98K
Total Short-Term Assets $13.24M $14.28M $12.83M
YoY Change 11.36% 11.37% 116.47%
LONG-TERM ASSETS
Property, Plant & Equipment $415.7K $335.8K $761.4K
YoY Change -37.02% -55.9% -43.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.190M $5.160M $10.10M
YoY Change -48.87% -48.91%
Other Assets $222.5K $233.0K $250.9K
YoY Change -65.76% -7.13% -4.49%
Total Long-Term Assets $6.556M $6.461M $11.76M
YoY Change -43.92% -45.06% 419.64%
TOTAL ASSETS
Total Short-Term Assets $13.24M $14.28M $12.83M
Total Long-Term Assets $6.556M $6.461M $11.76M
Total Assets $19.80M $20.74M $24.59M
YoY Change -16.05% -15.62% 200.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $730.0K $680.0K $490.0K
YoY Change 65.91% 38.78% 13.95%
Accrued Expenses $480.0K $400.0K $450.0K
YoY Change 9.09% -11.11% 7.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.212M $1.079M $941.9K
YoY Change 37.76% 14.53% 11.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.060M $1.110M $1.120M
YoY Change -4.5% -0.89% 31.76%
Total Long-Term Liabilities $1.060M $1.110M $1.120M
YoY Change -4.5% -0.89% 31.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.212M $1.079M $941.9K
Total Long-Term Liabilities $1.060M $1.110M $1.120M
Total Liabilities $2.271M $2.193M $2.057M
YoY Change 14.25% 6.6% 21.09%
SHAREHOLDERS EQUITY
Retained Earnings -$65.26M -$64.06M -$59.74M
YoY Change 7.51% 7.23% 10.05%
Common Stock $82.78M $82.62M $54.88K
YoY Change 150731.64% 150441.23% 42.85%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $8.390K $8.390K
YoY Change -100.0% 0.0% 0.0%
Treasury Stock Shares 0.000 shares 13.20K shares 13.20K shares
Shareholders Equity $17.52M $18.55M $22.53M
YoY Change
Total Liabilities & Shareholders Equity $19.80M $20.74M $24.59M
YoY Change -16.06% -15.62% 200.27%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income -$1.195M -$1.312M -$907.0K
YoY Change 25.32% 44.66% -2.16%
Depreciation, Depletion And Amortization $140.0K $137.5K $135.2K
YoY Change 0.0% 1.74% -24.9%
Cash From Operating Activities -$760.0K -$810.0K -$620.0K
YoY Change -32.74% 30.65% -27.06%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$30.00K -$40.00K
YoY Change 425.0% -25.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $5.980M -$50.00K -$70.00K
YoY Change 550.0% -28.57%
Cash From Investing Activities $5.760M -$80.00K -$110.0K
YoY Change 562.07% -27.27% 450.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -10.00K -10.00K
YoY Change 0.0% 0.0%
NET CHANGE
Cash From Operating Activities -760.0K -810.0K -620.0K
Cash From Investing Activities 5.760M -80.00K -110.0K
Cash From Financing Activities 0.000 -10.00K -10.00K
Net Change In Cash 5.000M -900.0K -740.0K
YoY Change -2023.08% 21.62% -15.91%
FREE CASH FLOW
Cash From Operating Activities -$760.0K -$810.0K -$620.0K
Capital Expenditures -$210.0K -$30.00K -$40.00K
Free Cash Flow -$550.0K -$780.0K -$580.0K
YoY Change -49.54% 34.48% -30.12%

Facts In Submission

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CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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0.01 pure
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us-gaap Cost Of Property Repairs And Maintenance
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us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
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6000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
IsoRay, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0000728387
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
ISR
CY2016Q1 dei Entity Common Stock Shares Outstanding
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55013553 shares
CY2015Q4 us-gaap Commitments And Contingencies
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USD
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CY2015Q4 us-gaap Treasury Stock Shares
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CY2015Q2 us-gaap Treasury Stock Shares
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CY2015Q4 us-gaap Common Stock Shares Outstanding
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0.001
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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10632 USD
isr Federal Deposit Insurance Corporation Limits On Deposits In Financial Institutions
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250000 USD
CY2015Q4 us-gaap Due To Related Parties Current
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2000 USD
CY2014Q4 us-gaap Due To Related Parties Current
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2000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <table style="clear:both;WIDTH: 99.98%; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" width="99%"> <tr> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt"><b><font style="FONT-SIZE: 10pt">2.</font></b></div> </td> <td style="BORDER-BOTTOM: #d4d0c8; BORDER-LEFT: #d4d0c8; PADDING-BOTTOM: 0in; BACKGROUND-COLOR: transparent; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; BORDER-RIGHT: #d4d0c8; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt" align="justify"><b> <font style="FONT-SIZE: 10pt">New Accounting Pronouncements</font></b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"> &#160;</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes the revenue recognition requirements in FASB Accounting Standards Codification (ASC) Topic 605, Revenue Recognition. The guidance requires that an entity recognize revenue in a way that depicts the transfer of promised goods or services to customers in the amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods and services. The guidance will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and is to be applied retrospectively, with early application not permitted. The Company is currently evaluating the new standard and its impact on the Company's consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 27.5pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In July 2015, the FASB issued ASU No. 2015-11 &#150; Inventory. The guidance requires an entity&#8217;s management to measure inventory within the scope of this ASU at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early application is permitted.&#160; The Company is currently evaluating the new standard and its impact on the Company's consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In January 2016, the FASB issued ASU No. 2016-01 &#150; Financial Instruments &#150; Overall. The guidance requires an entity&#8217;s management to measure equity investments except those accounted for under the equity method of accounting or those that result in consolidation of the investee to be measured at fair value; simplifies the impairment assessment of equity investments; eliminates the requirement to disclose the fair value of financial instruments measured at amortized cost for non-public entities: eliminates the requirement for a public entity to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; and clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity&#8217;s other deferred tax assets. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early application is not permitted except as contained in the early adoption guidance.&#160; The Company is currently evaluating the new standard and its impact on the Company's consolidated financial statements.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Allocated Share Based Compensation Expense
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CY2015Q4 us-gaap Depreciation
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CY2014Q4 us-gaap Depreciation
Depreciation
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CY2015Q4 us-gaap Other Liabilities
OtherLiabilities
300000 USD
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015Q4 isr Number Of Employees Commitment
NumberOfEmployeesCommitment
25 pure

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