2014 Q1 Form 10-Q Financial Statement

#000119312514192903 Filed on May 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $7.866M $9.733M
YoY Change -19.18% 11.99%
Cost Of Revenue $4.157M $5.090M
YoY Change -18.33% -7.69%
Gross Profit $3.709M $4.643M
YoY Change -20.12% 46.14%
Gross Profit Margin 47.15% 47.7%
Selling, General & Admin $8.236M $6.853M
YoY Change 20.18% 14.87%
% of Gross Profit 222.05% 147.6%
Research & Development $4.642M $2.700M
YoY Change 71.93% 48.03%
% of Gross Profit 125.16% 58.15%
Depreciation & Amortization $325.0K $167.0K
YoY Change 94.61% -19.71%
% of Gross Profit 8.76% 3.6%
Operating Expenses $12.93M $9.603M
YoY Change 34.62% 22.49%
Operating Profit -$9.219M -$4.960M
YoY Change 85.87% 8.49%
Interest Expense $50.00K $131.0K
YoY Change -61.83% -5.76%
% of Operating Profit
Other Income/Expense, Net $9.032M -$5.241M
YoY Change -272.33% 23.99%
Pretax Income -$187.0K -$10.20M
YoY Change -98.17% 15.93%
Income Tax $38.00K $51.00K
% Of Pretax Income
Net Earnings -$225.0K -$10.25M
YoY Change -97.81% 16.05%
Net Earnings / Revenue -2.86% -105.33%
Basic Earnings Per Share $0.00 -$0.17
Diluted Earnings Per Share -$0.12 -$0.17
COMMON SHARES
Basic Shares Outstanding 72.09M shares 59.73M shares
Diluted Shares Outstanding 75.16M shares 59.73M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.30M $69.20M
YoY Change -30.2% 119.68%
Cash & Equivalents $23.99M $69.16M
Short-Term Investments $24.30M
Other Short-Term Assets $913.0K $418.0K
YoY Change 118.42% -62.0%
Inventory $11.31M $11.76M
Prepaid Expenses $1.661M $1.370M
Receivables $4.943M $4.733M
Other Receivables $0.00 $0.00
Total Short-Term Assets $67.08M $87.44M
YoY Change -23.29% 87.64%
LONG-TERM ASSETS
Property, Plant & Equipment $3.166M $1.595M
YoY Change 98.5% -16.05%
Goodwill $1.316M $1.316M
YoY Change 0.0%
Intangibles $1.294M $1.496M
YoY Change -13.5%
Long-Term Investments
YoY Change
Other Assets $64.00K $58.00K
YoY Change 10.34% -88.4%
Total Long-Term Assets $6.148M $4.767M
YoY Change 28.97% -11.72%
TOTAL ASSETS
Total Short-Term Assets $67.08M $87.44M
Total Long-Term Assets $6.148M $4.767M
Total Assets $73.23M $92.21M
YoY Change -20.58% 77.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.493M $3.887M
YoY Change -10.14% -7.45%
Accrued Expenses $8.838M $8.149M
YoY Change 8.46% 8.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.300M $4.500M
YoY Change -26.67% 45.16%
Total Short-Term Liabilities $27.23M $27.66M
YoY Change -1.53% 0.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $2.500M
YoY Change -100.0% -39.02%
Other Long-Term Liabilities $1.031M $1.209M
YoY Change -14.72% 0.75%
Total Long-Term Liabilities $1.031M $1.209M
YoY Change -14.72% -77.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.23M $27.66M
Total Long-Term Liabilities $1.031M $1.209M
Total Liabilities $28.36M $31.42M
YoY Change -9.74% -3.92%
SHAREHOLDERS EQUITY
Retained Earnings -$503.4M -$470.1M
YoY Change 7.09%
Common Stock $72.00K $70.00K
YoY Change 2.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.87M $60.79M
YoY Change
Total Liabilities & Shareholders Equity $73.23M $92.21M
YoY Change -20.58% 77.32%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$225.0K -$10.25M
YoY Change -97.81% 16.05%
Depreciation, Depletion And Amortization $325.0K $167.0K
YoY Change 94.61% -19.71%
Cash From Operating Activities -$9.830M -$8.352M
YoY Change 17.7% 113.93%
INVESTING ACTIVITIES
Capital Expenditures $839.0K -$30.00K
YoY Change -2896.67%
Acquisitions
YoY Change
Other Investing Activities $460.0K $0.00
YoY Change -100.0%
Cash From Investing Activities $3.000M -$26.00K
YoY Change -11638.46% -113.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.00K $51.50M
YoY Change -99.94% 435.81%
Debt Paid & Issued, Net $125.0K
YoY Change
Cash From Financing Activities 1.330M 50.85M
YoY Change -97.38% 426.35%
NET CHANGE
Cash From Operating Activities -9.830M -8.352M
Cash From Investing Activities 3.000M -26.00K
Cash From Financing Activities 1.330M 50.85M
Net Change In Cash -5.500M 42.47M
YoY Change -112.95% 613.49%
FREE CASH FLOW
Cash From Operating Activities -$9.830M -$8.352M
Capital Expenditures $839.0K -$30.00K
Free Cash Flow -$10.67M -$8.322M
YoY Change 28.2% 113.17%

Facts In Submission

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements requires management to make estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures of contingent assets and liabilities. On an ongoing basis, management evaluates its estimates, which are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions.</p> </div>
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CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6853000
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51000
CY2013Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
50845000
CY2013Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
97000
CY2013Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
85000
CY2013Q1 us-gaap Interest Expense
InterestExpense
131000
CY2013Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3299000
CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
51502000
CY2013Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
2700000
CY2013Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
526000
CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
167000
CY2013Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50000
CY2013Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-8352000
CY2013Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
713000
CY2013Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2013Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
152000
CY2013Q1 cers Foreign Currency Exchange Gain Loss
ForeignCurrencyExchangeGainLoss
-100000
CY2013Q1 cers Performance Based Stock Options Awards
PerformanceBasedStockOptionsAwards
0
CY2013Q1 cers Warrant Liability Revaluation Gain Loss
WarrantLiabilityRevaluationGainLoss
-5073000
CY2013Q1 cers Payment For Royalty
PaymentForRoyalty
800000
CY2013Q1 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
3900000
CY2014Q1 dei Trading Symbol
TradingSymbol
CERS
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
CERUS CORP
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001020214
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.49
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
9.78
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
30000 shares
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75158000 shares
CY2014Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3070000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.20
CY2014Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
478000 shares
CY2014Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Concentration of Credit Risk</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, short-term investments and accounts receivable.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Pursuant to the Company&#x2019;s investment policy, substantially all of the Company&#x2019;s cash, cash equivalents and short-term investments are maintained at major financial institutions of high credit standing. The Company monitors the financial credit worthiness of the issuers of its investments and limits the concentration in individual securities and types of investments that exist within its investment portfolio. Generally, all of the Company&#x2019;s investments carry high credit quality ratings, which is in accordance with its investment policy. At March&#xA0;31, 2014, the Company does not believe there is significant financial risk from non-performance by the issuers of the Company&#x2019;s cash equivalents.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Concentrations of credit risk with respect to trade receivables exist. However, in connection with the Company&#x2019;s revolving line of credit, as discussed in Note 8 in the Notes to Condensed Consolidated Financial Statements, the Company purchased a credit insurance policy that mitigates some of its credit risk, as the policy will pay either the Company or its lender on eligible claims filed on its outstanding receivables. On a regular basis, including at the time of sale, the Company performs credit evaluations of its customers. Generally, the Company does not require collateral from its customers to secure accounts receivable. To the extent that the Company determines specific invoices or customer accounts may be uncollectible, the Company reserves against the accounts receivable on its condensed consolidated balance sheets and records a charge on its condensed consolidated statements of operations. At March&#xA0;31, 2014 and December&#xA0;31, 2013, the Company had not recorded any reserves for potentially uncollectible accounts.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> The Company had three customers and two customers that accounted for more than 10% of the Company&#x2019;s outstanding trade receivables at March&#xA0;31, 2014, and December&#xA0;31, 2013, respectively. These customers cumulatively represented approximately 65% and 55% of the Company&#x2019;s outstanding trade receivables at March&#xA0;31, 2014, and December&#xA0;31, 2013, respectively. To date, the Company has not experienced collection difficulties from these customers.</p> </div>
CY2014Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
36000 shares
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16901000 shares
CY2014Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.65
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2347000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72088000 shares
CY2014Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2014Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2014Q1 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Guarantee and Indemnification Arrangements</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company recognizes the fair value for guarantee and indemnification arrangements issued or modified by the Company after December&#xA0;31, 2002. In addition, the Company monitors the conditions that are subject to the guarantees and indemnifications in order to identify if a loss has occurred. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees and indemnifications. Some of the agreements that the Company is a party to contain provisions that indemnify the counter party from damages and costs resulting from claims that the Company&#x2019;s technology infringes the intellectual property rights of a third party or claims that the sale or use of the Company&#x2019;s products have caused personal injury or other damage or loss. The Company has not received any such requests for indemnification under these provisions and has not been required to make material payments pursuant to these provisions.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company generally provides for a one-year warranty on certain of its INTERCEPT blood-safety products covering defects in materials and workmanship. The Company accrues costs associated with warranty obligations when claims become known and are estimable.</p> </div>
CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-9034000
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
764000
CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
460000
CY2014Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7866000
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
170000
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9259000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-187000
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1182000
CY2014Q1 us-gaap Goodwill Other Changes
GoodwillOtherChanges
0
CY2014Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
21000
CY2014Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
125000
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-225000
CY2014Q1 us-gaap Gross Profit
GrossProfit
3709000
CY2014Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9219000
CY2014Q1 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
2700000
CY2014Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
839000
CY2014Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0
CY2014Q1 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
0
CY2014Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
1425000
CY2014Q1 cers Foreign Currency Exchange Gain Loss
ForeignCurrencyExchangeGainLoss
100000
CY2014Q1 cers Safety Product Warranty Period
SafetyProductWarrantyPeriod
P1Y
CY2014Q1 cers Performance Based Stock Options Awards
PerformanceBasedStockOptionsAwards
0
CY2014Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50000
CY2014Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-9825000
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
945000
CY2014Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2014Q1 cers Prior Written Notice Period For Termination Of Agreement
PriorWrittenNoticePeriodForTerminationOfAgreement
P24M
CY2014Q1 cers Warrant Liability Revaluation Gain Loss
WarrantLiabilityRevaluationGainLoss
9034000
CY2014Q1 cers Minimum Term Of Non Cancelable Operating Leases
MinimumTermOfNonCancelableOperatingLeases
P1Y
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
9032000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-225000
CY2014Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1117000
CY2014Q1 us-gaap Dilutive Securities
DilutiveSecurities
-9034000
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
CY2014Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
3001000
CY2014Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2014Q1 us-gaap Cost Of Goods Sold
CostOfGoodsSold
4157000
CY2014Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
946000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5493000
CY2014Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4300000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
12928000
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8236000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38000
CY2014Q1 us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
1331000
CY2014Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
98000
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1295000
CY2014Q1 us-gaap Interest Expense
InterestExpense
193000
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2181000
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
31000
CY2014Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4642000
CY2014Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
325000
CY2014Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2014Q1 cers Payment For Royalty
PaymentForRoyalty
700000
CY2014Q1 cers Expiration Of Non Cancelable Operating Leases Maximum Year
ExpirationOfNonCancelableOperatingLeasesMaximumYear
2019
CY2014Q1 cers Inventory Life Finished Goods Period
InventoryLifeFinishedGoodsPeriod
P2Y
CY2014Q1 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
4600000
CY2014Q1 cers Work In Process Inventory Life Period
WorkInProcessInventoryLifePeriod
P1Y
CY2014Q1 cers Eligible To Receive Royalty Fee
EligibleToReceiveRoyaltyFee
0.01 pure

Files In Submission

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0001193125-14-192903-index-headers.html Edgar Link pending
0001193125-14-192903-index.html Edgar Link pending
0001193125-14-192903.txt Edgar Link pending
0001193125-14-192903-xbrl.zip Edgar Link pending
cers-20140331.xml Edgar Link completed
cers-20140331.xsd Edgar Link pending
cers-20140331_cal.xml Edgar Link unprocessable
cers-20140331_def.xml Edgar Link unprocessable
cers-20140331_lab.xml Edgar Link unprocessable
cers-20140331_pre.xml Edgar Link unprocessable
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