2018 Q4 Form 10-Q Financial Statement
#000082787118000010 Filed on November 01, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
Revenue | $56.05M | $51.34M | $63.02M |
YoY Change | 19.81% | -18.54% | 66.58% |
Cost Of Revenue | $18.56M | $8.621M | $4.815M |
YoY Change | 35.38% | 79.04% | -53.81% |
Gross Profit | $37.50M | $38.35M | $58.21M |
YoY Change | 13.35% | -34.12% | 112.37% |
Gross Profit Margin | 66.89% | 74.69% | 92.36% |
Selling, General & Admin | $15.48M | $13.88M | $16.67M |
YoY Change | 16.22% | -16.74% | 42.95% |
% of Gross Profit | 41.29% | 36.19% | 28.64% |
Research & Development | $5.860M | $5.975M | $8.954M |
YoY Change | -37.92% | -33.27% | 179.2% |
% of Gross Profit | 15.63% | 15.58% | 15.38% |
Depreciation & Amortization | $840.0K | $840.0K | $950.0K |
YoY Change | -11.58% | -11.58% | 163.89% |
% of Gross Profit | 2.24% | 2.19% | 1.63% |
Operating Expenses | $21.33M | $32.94M | $38.07M |
YoY Change | -5.74% | -13.49% | 49.15% |
Operating Profit | $15.73M | $18.40M | $24.95M |
YoY Change | 50.6% | -26.24% | 102.71% |
Interest Expense | -$500.0K | $743.0K | $527.0K |
YoY Change | 0.0% | 40.99% | 17466.67% |
% of Operating Profit | -3.18% | 4.04% | 2.11% |
Other Income/Expense, Net | -$734.0K | -$492.0K | |
YoY Change | 49.19% | -2239.13% | |
Pretax Income | $15.23M | $17.67M | $24.46M |
YoY Change | 53.22% | -27.76% | 98.35% |
Income Tax | $2.640M | $3.628M | $9.027M |
% Of Pretax Income | 17.33% | 20.53% | 36.91% |
Net Earnings | $12.59M | $14.04M | $15.43M |
YoY Change | 38.5% | -9.01% | 29.11% |
Net Earnings / Revenue | 22.46% | 27.35% | 24.49% |
Basic Earnings Per Share | $0.86 | $0.94 | $1.03 |
Diluted Earnings Per Share | $0.84 | $0.91 | $0.98 |
COMMON SHARES | |||
Basic Shares Outstanding | 14.91M shares | 15.01M shares | 15.05M shares |
Diluted Shares Outstanding | 15.48M shares | 15.76M shares |
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $78.80M | $91.20M | $97.50M |
YoY Change | -31.3% | -6.46% | 64.42% |
Cash & Equivalents | $78.79M | $91.23M | $97.55M |
Short-Term Investments | |||
Other Short-Term Assets | $134.0K | $1.671M | $850.0K |
YoY Change | -76.11% | 96.59% | 99.53% |
Inventory | $8.304M | $7.273M | $4.878M |
Prepaid Expenses | |||
Receivables | $66.49M | $78.46M | $71.60M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $163.8M | $197.8M | $182.2M |
YoY Change | -13.17% | 8.57% | 53.01% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $2.397M | $2.553M | $4.365M |
YoY Change | -64.85% | -41.51% | 54.4% |
Goodwill | $39.74M | $39.74M | $39.74M |
YoY Change | 0.0% | 0.0% | |
Intangibles | $18.10M | $18.70M | $24.00M |
YoY Change | -22.38% | -22.08% | -3.06% |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $694.0K | $706.0K | $124.0K |
YoY Change | 459.68% | 469.35% | 31.91% |
Total Long-Term Assets | $74.76M | $71.02M | $84.74M |
YoY Change | -8.12% | -16.19% | 206.13% |
TOTAL ASSETS | |||
Total Short-Term Assets | $163.8M | $197.8M | $182.2M |
Total Long-Term Assets | $74.76M | $71.02M | $84.74M |
Total Assets | $238.6M | $268.8M | $266.9M |
YoY Change | -11.65% | 0.71% | 81.9% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $9.917M | $7.544M | $8.902M |
YoY Change | -17.23% | -15.25% | -32.07% |
Accrued Expenses | $23.52M | $22.87M | $20.44M |
YoY Change | 52.81% | 11.88% | -4.19% |
Deferred Revenue | $5.869M | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $6.250M | $5.000M | $5.000M |
YoY Change | 28.21% | 0.0% | |
Total Short-Term Liabilities | $39.69M | $35.41M | $34.40M |
YoY Change | -16.1% | 2.95% | -2.97% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $38.16M | $39.31M | $43.94M |
YoY Change | -11.07% | -10.52% | |
Other Long-Term Liabilities | $0.00 | $0.00 | $17.50M |
YoY Change | -100.0% | -100.0% | 201.72% |
Total Long-Term Liabilities | $38.16M | $39.31M | $43.94M |
YoY Change | -11.07% | -10.52% | 657.52% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $39.69M | $35.41M | $34.40M |
Total Long-Term Liabilities | $38.16M | $39.31M | $43.94M |
Total Liabilities | $77.84M | $74.72M | $78.33M |
YoY Change | -13.71% | -4.61% | 90.12% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $58.19M | $45.60M | $17.20M |
YoY Change | 121.38% | 165.11% | -120.73% |
Common Stock | $17.00K | $16.00K | $16.00K |
YoY Change | 6.25% | 0.0% | 6.67% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $153.9M | $103.4M | $75.79M |
YoY Change | 90.48% | 36.45% | 321.14% |
Treasury Stock Shares | 2.590M shares | 1.583M shares | 1.150M shares |
Shareholders Equity | $160.8M | $194.1M | $171.1M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $238.6M | $268.8M | $266.9M |
YoY Change | -11.65% | 0.71% | 81.9% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $12.59M | $14.04M | $15.43M |
YoY Change | 38.5% | -9.01% | 29.11% |
Depreciation, Depletion And Amortization | $840.0K | $840.0K | $950.0K |
YoY Change | -11.58% | -11.58% | 163.89% |
Cash From Operating Activities | $38.10M | $3.690M | $7.890M |
YoY Change | 46.99% | -53.23% | -40.09% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$80.00K | -$30.00K | -$1.580M |
YoY Change | -97.07% | -98.1% | -88.86% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | |||
Cash From Investing Activities | -$80.00K | -$30.00K | -$1.580M |
YoY Change | -97.07% | -98.1% | -88.86% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -50.46M | -12.68M | 35.84M |
YoY Change | 729.93% | -135.38% | -335.17% |
NET CHANGE | |||
Cash From Operating Activities | 38.10M | 3.690M | 7.890M |
Cash From Investing Activities | -80.00K | -30.00K | -1.580M |
Cash From Financing Activities | -50.46M | -12.68M | 35.84M |
Net Change In Cash | -12.44M | -9.020M | 42.15M |
YoY Change | -172.71% | -121.4% | -359.38% |
FREE CASH FLOW | |||
Cash From Operating Activities | $38.10M | $3.690M | $7.890M |
Capital Expenditures | -$80.00K | -$30.00K | -$1.580M |
Free Cash Flow | $38.18M | $3.720M | $9.470M |
YoY Change | 33.26% | -60.72% | -65.37% |
Facts In Submission
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us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.25 | ||
CY2017Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.37 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.32 | ||
CY2018Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.21 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.03 | ||
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
3763000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
5679000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
8925000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
599000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
1369000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
2623000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
2666000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
2520000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
34320000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
34320000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
23322000 | USD |
CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
18702000 | USD |
CY2017Q4 | us-gaap |
Goodwill
Goodwill
|
39743000 | USD |
CY2018Q3 | us-gaap |
Goodwill
Goodwill
|
39743000 | USD |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD | |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD | |
CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
24458000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
63006000 | USD | |
CY2018Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
17668000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
18804000 | USD | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
8845000 | USD | |
CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
9027000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
20148000 | USD | |
CY2018Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
3628000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-509000 | USD | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
1887000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-5814000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-4437000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
29407000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
24640000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-4049000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
7476000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
2139000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
4525000 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-12000 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
582000 | USD | |
CY2017Q3 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
716443 | shares |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
840625 | shares | |
CY2018Q3 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
471878 | shares |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
578823 | shares | |
CY2017Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
23322000 | USD |
CY2018Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
18702000 | USD |
CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
527000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
594000 | USD | |
CY2018Q3 | us-gaap |
Interest Expense
InterestExpense
|
743000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
2118000 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
0 | USD | |
us-gaap |
Interest Paid
InterestPaid
|
1540000 | USD | |
CY2017Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1698000 | USD |
CY2018Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
329000 | USD |
CY2017Q4 | us-gaap |
Inventory Net
InventoryNet
|
5118000 | USD |
CY2018Q3 | us-gaap |
Inventory Net
InventoryNet
|
7273000 | USD |
CY2017Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2489000 | USD |
CY2018Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
6944000 | USD |
CY2017Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
931000 | USD |
CY2018Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
0 | USD |
CY2017Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
35000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
52000 | USD | |
CY2018Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
9000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
36000 | USD | |
CY2017Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
184000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
503000 | USD | |
CY2018Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
135000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
423000 | USD | |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
270060000 | USD |
CY2018Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
268788000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
47302000 | USD |
CY2018Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
35411000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
45000000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
4875000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
5000000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
0 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
1250000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
0 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
0 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
38750000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
5000000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
1250000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
42905000 | USD |
CY2018Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
39312000 | USD |
CY2017Q3 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
2568000 | USD |
us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
17296000 | USD | |
CY2018Q3 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
609000 | USD |
us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
2622000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
14183000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-37655000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2456000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-52000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
32998000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
14276000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
15431000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
42858000 | USD | |
CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
14040000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
19313000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
15431000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
42858000 | USD | |
CY2018Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
14040000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
19313000 | USD | |
CY2017Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-492000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-542000 | USD | |
CY2018Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-734000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2082000 | USD | |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
38071000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
126374000 | USD | |
CY2018Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
32935000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
136372000 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
24950000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
63548000 | USD | |
CY2018Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
18402000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
20886000 | USD | |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
4904000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
265000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
703000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
699000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
978000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1256000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
1003000 | USD |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1423000 | USD |
CY2018Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1070000 | USD |
CY2017Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
561000 | USD |
CY2018Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1671000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
124000 | USD |
CY2018Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
706000 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
38790000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
22628000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
1192000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
0 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
4877000 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
750000 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
0 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1706000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
52000 | USD | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1500000 | shares |
CY2018Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1500000 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2018Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2018Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2018Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
15101000 | USD |
CY2018Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
20810000 | USD |
CY2017Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
116000 | USD |
CY2018Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
389000 | USD |
CY2017Q4 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
9597000 | USD |
CY2018Q3 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
12498000 | USD |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
50000000 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
4165000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
8601000 | USD | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
6820000 | USD |
CY2018Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2553000 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation
PurchaseObligation
|
30974000 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation Due After Fifth Year
PurchaseObligationDueAfterFifthYear
|
0 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
|
0 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
|
0 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
|
6195000 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
|
24779000 | USD |
CY2018Q3 | us-gaap |
Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
|
0 | USD |
CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8954000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
23163000 | USD | |
CY2018Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
5975000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
38560000 | USD | |
CY2017Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
0 | USD |
us-gaap |
Restructuring Charges
RestructuringCharges
|
0 | USD | |
CY2018Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
91000 | USD |
us-gaap |
Restructuring Charges
RestructuringCharges
|
7479000 | USD | |
us-gaap |
Restructuring Costs
RestructuringCosts
|
0 | USD | |
us-gaap |
Restructuring Costs
RestructuringCosts
|
5771000 | USD | |
CY2017Q4 | us-gaap |
Restructuring Reserve Current
RestructuringReserveCurrent
|
0 | USD |
CY2018Q3 | us-gaap |
Restructuring Reserve Current
RestructuringReserveCurrent
|
1600000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
26284000 | USD |
CY2018Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
45597000 | USD |
CY2017Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
63021000 | USD |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
189922000 | USD | |
CY2018Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
51337000 | USD |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
157258000 | USD | |
CY2017Q3 | us-gaap |
Royalty Expense
RoyaltyExpense
|
6850000 | USD |
us-gaap |
Royalty Expense
RoyaltyExpense
|
18990000 | USD | |
CY2018Q3 | us-gaap |
Royalty Expense
RoyaltyExpense
|
4370000 | USD |
us-gaap |
Royalty Expense
RoyaltyExpense
|
13440000 | USD | |
CY2017Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
16669000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
58100000 | USD | |
CY2018Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
13878000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
45033000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
11618000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
14512000 | USD | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P4Y | ||
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.3435 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.3697 | ||
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.4376 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.4376 | ||
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0218 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0242 | ||
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0290 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0294 | ||
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0179 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0179 | ||
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0272 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0230 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
925329 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
652625 | shares | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2324918 | shares |
CY2017Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2962629 | shares |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2786568 | shares |
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2547992 | shares |
CY2018Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y29D | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
|
107102 | shares | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
|
391609 | shares | |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
180516 | shares | |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
499592 | shares | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
8601000 | USD | |
CY2016Q3 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
75000000.0 | USD |
CY2017Q3 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
100000000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
179144000 | USD |
CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
194065000 | USD |
CY2017Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1241695 | shares |
CY2018Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1582666 | shares |
us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
1582666 | shares | |
us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
340971 | shares | |
CY2017Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
80795000 | USD |
CY2018Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
103423000 | USD |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
103400000 | USD | |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
22600000 | USD | |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
22628000 | USD | |
CY2018Q3 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | USD |
CY2017Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
15764360 | shares |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
16015051 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
15483037 | shares |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
15482768 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
15764360 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16015051 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
15483037 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
15482768 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
15047917 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
15174426 | shares | |
CY2018Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
15011159 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14903945 | shares | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Interim Condensed Consolidated Financial Statements</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The condensed consolidated balance sheet at December 31, 2017 was derived from audited financial statements, but certain information and footnote disclosures normally included in the Company's annual consolidated financial statements have been condensed or omitted. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of the financial information for the interim periods reported have been made. Results of operations for the </font><font style="font-family:inherit;font-size:10pt;">three and nine months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results for the year ending December 31, </font><font style="font-family:inherit;font-size:10pt;">2018</font><font style="font-family:inherit;font-size:10pt;"> or any period thereafter. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on February 26, 2018. Unless otherwise indicated or required by context, reference throughout to the "Company," "Eagle Pharmaceuticals," "Eagle," "we," "us" or "our" mean Eagle Pharmaceuticals, Inc., a Delaware corporation and its subsidiary, Eagle Biologics, Inc., and references to "Eagle Biologics" mean Eagle Biologics, Inc.</font></div></div> | ||
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior year amounts to conform with the current year presentation.</font></div></div> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These financial statements are presented in U.S. dollars and are prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements including disclosure of contingent assets and contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and accompanying notes. The Company's critical accounting policies are those that are both most important to the Company's financial condition and results of operations and require the most difficult, subjective or complex judgments on the part of management in their application, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Because of the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates.</font></div></div> |