2014 Q4 Form 10-Q Financial Statement

#000119312514403411 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $9.587M $10.36M $10.54M
YoY Change 3.85% -1.71% 27.75%
Cost Of Revenue $6.590M $5.689M $6.826M
YoY Change 33.43% -16.66% 54.75%
Gross Profit $2.997M $4.673M $3.716M
YoY Change -30.19% 25.75% -3.25%
Gross Profit Margin 31.26% 45.1% 35.25%
Selling, General & Admin $10.69M $8.724M $7.728M
YoY Change 43.88% 12.89% 24.26%
% of Gross Profit 356.69% 186.69% 207.97%
Research & Development $5.190M $7.250M $4.363M
YoY Change 12.39% 66.17% 129.27%
% of Gross Profit 173.17% 155.15% 117.41%
Depreciation & Amortization $430.0K $370.0K $130.0K
YoY Change 26.47% 184.62% -27.78%
% of Gross Profit 14.35% 7.92% 3.5%
Operating Expenses $15.93M $16.02M $12.14M
YoY Change 31.66% 31.98% 48.57%
Operating Profit -$12.93M -$11.35M -$8.425M
YoY Change 65.68% 34.73% 94.53%
Interest Expense -$6.910M $249.0K $41.00K
YoY Change -483.89% 507.32% -69.85%
% of Operating Profit
Other Income/Expense, Net -$240.0K $600.0K -$12.02M
YoY Change -112.01% -104.99% -1397.62%
Pretax Income -$20.08M -$10.75M -$20.44M
YoY Change 245.79% -47.4% 500.32%
Income Tax $110.0K $8.000K $60.00K
% Of Pretax Income
Net Earnings -$20.18M -$10.76M -$20.50M
YoY Change 244.4% -47.52% 492.51%
Net Earnings / Revenue -210.51% -103.83% -194.47%
Basic Earnings Per Share -$0.26 -$0.14 -$0.29
Diluted Earnings Per Share -$0.26 -$0.16 -$0.29
COMMON SHARES
Basic Shares Outstanding 78.27M shares 75.19M shares 69.79M shares
Diluted Shares Outstanding 76.10M shares 69.79M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.29M $47.60M $53.30M
YoY Change -11.1% -10.69% 99.63%
Cash & Equivalents $22.78M $22.34M $24.36M
Short-Term Investments $28.51M $25.20M $29.00M
Other Short-Term Assets $1.932M $2.429M $394.0K
YoY Change 337.1% 516.5% -87.69%
Inventory $14.96M $13.50M $12.69M
Prepaid Expenses $1.210M $1.780M $1.071M
Receivables $5.493M $7.366M $7.025M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $74.89M $72.65M $74.50M
YoY Change -4.18% -2.48% 71.27%
LONG-TERM ASSETS
Property, Plant & Equipment $3.781M $3.882M $1.848M
YoY Change 72.73% 110.06% 2.67%
Goodwill $1.316M $1.316M $1.316M
YoY Change 0.0% 0.0%
Intangibles $1.142M $1.193M $1.395M
YoY Change -15.03% -14.48%
Long-Term Investments
YoY Change
Other Assets $144.0K $51.00K $72.00K
YoY Change 105.71% -29.17% -82.0%
Total Long-Term Assets $6.891M $6.743M $4.937M
YoY Change 31.83% 36.58% -5.06%
TOTAL ASSETS
Total Short-Term Assets $74.89M $72.65M $74.50M
Total Long-Term Assets $6.891M $6.743M $4.937M
Total Assets $81.78M $79.40M $79.44M
YoY Change -1.92% -0.06% 63.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.882M $4.115M $4.076M
YoY Change 74.16% 0.96% -28.49%
Accrued Expenses $8.444M $12.55M $12.06M
YoY Change -13.95% 4.04% 48.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $3.600M
YoY Change -100.0% -100.0% -26.53%
Total Short-Term Liabilities $29.19M $21.15M $42.59M
YoY Change -25.97% -50.33% 56.01%
LONG-TERM LIABILITIES
Long-Term Debt $9.900M $9.900M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.081M $998.0K $1.120M
YoY Change 0.75% -10.89% 1.82%
Total Long-Term Liabilities $1.081M $998.0K $1.120M
YoY Change 0.75% -10.89% -74.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.19M $21.15M $42.59M
Total Long-Term Liabilities $1.081M $998.0K $1.120M
Total Liabilities $40.26M $32.12M $43.79M
YoY Change -0.82% -26.66% 38.15%
SHAREHOLDERS EQUITY
Retained Earnings -$541.9M -$521.8M -$497.3M
YoY Change 7.7% 4.91%
Common Stock $583.5M $77.00K $70.00K
YoY Change 6.87% 10.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.52M $47.28M $35.65M
YoY Change
Total Liabilities & Shareholders Equity $81.78M $79.40M $79.44M
YoY Change -1.92% -0.06% 63.12%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$20.18M -$10.76M -$20.50M
YoY Change 244.4% -47.52% 492.51%
Depreciation, Depletion And Amortization $430.0K $370.0K $130.0K
YoY Change 26.47% 184.62% -27.78%
Cash From Operating Activities -$8.630M -$11.74M -$6.090M
YoY Change 32.16% 92.78% 248.0%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$600.0K -$260.0K
YoY Change -63.64% 130.77% 550.0%
Acquisitions
YoY Change
Other Investing Activities -$3.790M -$4.260M -$29.17M
YoY Change -683.08% -85.4%
Cash From Investing Activities -$3.870M -$4.860M -$29.43M
YoY Change -1000.0% -83.49% 73475.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.93M 10.38M 1.670M
YoY Change 15.14% 521.56% -6.7%
NET CHANGE
Cash From Operating Activities -8.630M -11.74M -6.090M
Cash From Investing Activities -3.870M -4.860M -29.43M
Cash From Financing Activities 12.93M 10.38M 1.670M
Net Change In Cash 430.0K -6.220M -33.85M
YoY Change -91.62% -81.62% 3606440755835040000.0%
FREE CASH FLOW
Cash From Operating Activities -$8.630M -$11.74M -$6.090M
Capital Expenditures -$80.00K -$600.0K -$260.0K
Free Cash Flow -$8.550M -$11.14M -$5.830M
YoY Change 35.5% 91.08% 240.94%

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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
410000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
34000
us-gaap Interest Expense
InterestExpense
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OperatingExpenses
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Other Noncash Expense
OtherNoncashExpense
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us-gaap Fair Value Adjustment Of Warrants
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Cost Of Goods Sold
CostOfGoodsSold
17663000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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IncreaseDecreaseInAccruedLiabilities
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us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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0
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
11800000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.41
dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
CERUS CORP
dei Trading Symbol
TradingSymbol
CERS
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2030000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
40000 shares
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
134000 shares
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2734000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 14pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 4pt; TEXT-INDENT: 8%" align="justify">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>
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001020214
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
8.61
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.77
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75437000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 24pt"> <b>Guarantee and Indemnification Arrangements</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 4pt; TEXT-INDENT: 8%" align="justify">The Company recognizes the fair value for guarantee and indemnification arrangements issued or modified by the Company. 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: 10pt; TEXT-INDENT: 8%" align="justify">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>
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.93
cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
13900000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11737000 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 14pt"> <b>Concentration of Credit Risk</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 4pt; TEXT-INDENT: 8%" align="justify">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: 10pt; TEXT-INDENT: 8%" align="justify">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 a major financial institution 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 September&#xA0;30, 2014, the Company does not believe there is significant financial risk from non-performance by the issuers of the Company&#x2019;s cash equivalents and short-term investments.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt; TEXT-INDENT: 8%" align="justify">Concentrations of credit risk with respect to trade receivables exist. However, for certain customers, the Company purchases 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 significant customers that it expects to sell to on credit terms. 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 September&#xA0;30, 2014 and December&#xA0;31, 2013, the Company had not recorded any reserves for potentially uncollectible accounts.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 10pt; TEXT-INDENT: 8%" align="justify">The Company had four and two customers that accounted for more than 10% of the Company&#x2019;s outstanding trade receivables at each of September&#xA0;30, 2014 and December&#xA0;31, 2013, respectively. These customers cumulatively represented approximately 77% and 55% of the Company&#x2019;s outstanding trade receivables, at September&#xA0;30, 2014 and December&#xA0;31, 2013, respectively. To date, the Company has not experienced collection difficulties from these customers.</p> </div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
967000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Gross Profit
GrossProfit
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SalesRevenueGoodsNet
26829000
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PaymentsToAcquireInvestments
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OtherSalesRevenueNet
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
632000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
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us-gaap Payments For Royalties
PaymentsForRoyalties
1900000
us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
13091000
us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
0
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-50000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
449000
us-gaap Goodwill Other Changes
GoodwillOtherChanges
0
us-gaap Dilutive Securities
DilutiveSecurities
-14263000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
3446000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2033000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1241000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-18000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3764000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
989000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
379000
us-gaap Interest Expense
InterestExpense
676000
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OperatingExpenses
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us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
3000000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
2196000
us-gaap Other Noncash Expense
OtherNoncashExpense
65000
cers Safety Product Warranty Period
SafetyProductWarrantyPeriod
P1Y
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
151000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-7142000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-14263000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
14598000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
23520000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6849000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2728000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
515000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
10269000
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
16614000
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
9848000
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ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
17305000
us-gaap Share Based Compensation
ShareBasedCompensation
3764000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
cers Expiration Of Non Cancelable Operating Leases Maximum Year
ExpirationOfNonCancelableOperatingLeasesMaximumYear
2019
cers Inventory Life Finished Goods Period
InventoryLifeFinishedGoodsPeriod
P2Y
cers Work In Process Inventory Life Period
WorkInProcessInventoryLifePeriod
P1Y
cers Eligible To Receive Royalty Fee
EligibleToReceiveRoyaltyFee
0.01 pure
cers Prior Written Notice Period For Termination Of Agreement
PriorWrittenNoticePeriodForTerminationOfAgreement
P24M
CY2013Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50000
CY2013Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
12416000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
60000
cers Minimum Term Of Non Cancelable Operating Leases
MinimumTermOfNonCancelableOperatingLeases
P1Y
cers Sales Commissions And Fees Per Unit
SalesCommissionsAndFeesPerUnit
10
CY2010 cers Proceeds From Landlord Financing Leasehold Improvement
ProceedsFromLandlordFinancingLeaseholdImprovement
1100000
CY2013 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
12000000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69791000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16651000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69791000 shares
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-20501000
CY2013Q3 us-gaap Gross Profit
GrossProfit
3716000
CY2013Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
10542000
CY2013Q3 us-gaap Payments For Royalties
PaymentsForRoyalties
800000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-8425000
CY2013Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
409000
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20534000
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12016000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-20441000
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
32000
CY2013Q3 us-gaap Dilutive Securities
DilutiveSecurities
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CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2013Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-33000
CY2013Q3 us-gaap Available For Sale Securities Gross Realized Gains
AvailableForSaleSecuritiesGrossRealizedGains
0
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
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861000
CY2013Q3 us-gaap Interest Expense
InterestExpense
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CY2013Q3 us-gaap Operating Expenses
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CY2013Q3 us-gaap Selling General And Administrative Expense
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CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
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CY2013Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4363000
CY2013Q3 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2013Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2013Q3 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
4200000
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
909000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76103000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12032000 shares
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
10362000
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75194000 shares
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12497000
CY2014Q3 us-gaap Gross Profit
GrossProfit
4673000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11351000
CY2014Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
2200000
CY2014Q3 us-gaap Payments For Royalties
PaymentsForRoyalties
600000
CY2014Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-941000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10776000
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
600000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-10751000
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
145000
CY2014Q3 us-gaap Goodwill Other Changes
GoodwillOtherChanges
0
CY2014Q3 us-gaap Dilutive Securities
DilutiveSecurities
-1738000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-10759000
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-17000
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1478000
CY2014Q3 us-gaap Interest Expense
InterestExpense
342000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
16024000
CY2014Q3 us-gaap Selling General And Administrative Expense
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8724000
CY2014Q3 us-gaap Amortization Of Intangible Assets
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CY2014Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000
CY2014Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
5689000
CY2014Q3 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
7250000
CY2014Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2014Q3 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2014Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2014Q3 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
4300000
CY2014Q3 cers Number Of Disposable Kits
NumberOfDisposableKits
2000 Disposable_Kits

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cers-20140930.xml Edgar Link completed
cers-20140930.xsd Edgar Link pending
cers-20140930_cal.xml Edgar Link unprocessable
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