2014 Q1 Form 10-Q Financial Statement
#000114420414029062 Filed on May 09, 2014
Income Statement
| Concept | 2014 Q1 | 2013 Q1 |
|---|---|---|
| Revenue | $8.975M | $10.18M |
| YoY Change | -11.86% | -3.94% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $510.0K | $2.950M |
| YoY Change | -82.71% | -19.84% |
| % of Gross Profit | ||
| Research & Development | $0.00 | $1.579M |
| YoY Change | -100.0% | -77.44% |
| % of Gross Profit | ||
| Depreciation & Amortization | $0.00 | $100.0K |
| YoY Change | -100.0% | -92.31% |
| % of Gross Profit | ||
| Operating Expenses | $508.0K | $7.033M |
| YoY Change | -92.78% | -34.15% |
| Operating Profit | $8.467M | $3.150M |
| YoY Change | 168.79% | |
| Interest Expense | $0.00 | $1.274M |
| YoY Change | -100.0% | -235.53% |
| % of Operating Profit | 0.0% | 40.44% |
| Other Income/Expense, Net | $109.0K | $220.0K |
| YoY Change | -50.45% | |
| Pretax Income | $8.576M | $2.523M |
| YoY Change | 239.91% | -335.79% |
| Income Tax | $55.00K | $133.0K |
| % Of Pretax Income | 0.64% | 5.27% |
| Net Earnings | $8.521M | $2.390M |
| YoY Change | 256.53% | -323.16% |
| Net Earnings / Revenue | 94.94% | 23.47% |
| Basic Earnings Per Share | $0.19 | $0.05 |
| Diluted Earnings Per Share | $0.19 | $0.05 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 44.09M shares | 43.69M shares |
| Diluted Shares Outstanding | 44.25M shares | 61.12M shares |
Balance Sheet
| Concept | 2014 Q1 | 2013 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $14.90M | $199.3M |
| YoY Change | -92.52% | 59.82% |
| Cash & Equivalents | $14.86M | $121.7M |
| Short-Term Investments | $77.60M | |
| Other Short-Term Assets | $299.0K | $1.900M |
| YoY Change | -84.26% | -24.0% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $15.20M | $201.3M |
| YoY Change | -92.45% | 58.25% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.000M | |
| YoY Change | -93.55% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $17.00K | $1.000M |
| YoY Change | -98.3% | -99.52% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $15.20M | $201.3M |
| Total Long-Term Assets | $17.00K | $1.000M |
| Total Assets | $15.22M | $202.3M |
| YoY Change | -92.48% | -39.95% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $188.0K | $700.0K |
| YoY Change | -73.14% | -63.16% |
| Accrued Expenses | $744.0K | $6.300M |
| YoY Change | -88.19% | -43.24% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $115.8M |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $932.0K | $122.8M |
| YoY Change | -99.24% | 844.62% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Other Long-Term Liabilities | $500.0K | |
| YoY Change | ||
| Total Long-Term Liabilities | $500.0K | $0.00 |
| YoY Change | -100.0% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $932.0K | $122.8M |
| Total Long-Term Liabilities | $500.0K | $0.00 |
| Total Liabilities | $1.444M | $122.8M |
| YoY Change | -98.82% | -12.16% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$121.2M | |
| YoY Change | ||
| Common Stock | $134.9M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $13.77M | $79.50M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $15.22M | $202.3M |
| YoY Change | -92.48% | -39.95% |
Cashflow Statement
| Concept | 2014 Q1 | 2013 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $8.521M | $2.390M |
| YoY Change | 256.53% | -323.16% |
| Depreciation, Depletion And Amortization | $0.00 | $100.0K |
| YoY Change | -100.0% | -92.31% |
| Cash From Operating Activities | $8.200M | $2.800M |
| YoY Change | 192.86% | -660.0% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | ||
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $100.0K | $41.80M |
| YoY Change | -99.76% | -177.7% |
| Cash From Investing Activities | $100.0K | $41.80M |
| YoY Change | -99.76% | -177.7% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 0.000 | -100.0K |
| YoY Change | -100.0% | -97.37% |
| NET CHANGE | ||
| Cash From Operating Activities | 8.200M | 2.800M |
| Cash From Investing Activities | 100.0K | 41.80M |
| Cash From Financing Activities | 0.000 | -100.0K |
| Net Change In Cash | 8.300M | 44.50M |
| YoY Change | -81.35% | -176.59% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $8.200M | $2.800M |
| Capital Expenditures | ||
| Free Cash Flow | ||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
1888000 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1820000 | shares |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
166000 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
0 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
-14000 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
0 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
152000 | shares |
| CY2013Q1 | enzn |
Employee Service Share Based Compensation Tax Payments
EmployeeServiceShareBasedCompensationTaxPayments
|
100000 | USD |
| CY2014Q1 | enzn |
Employee Service Share Based Compensation Tax Payments
EmployeeServiceShareBasedCompensationTaxPayments
|
7000 | USD |
| CY2013Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
300000 | USD |
| CY2013Q1 | enzn |
Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensation
|
300000 | USD |
| CY2014Q1 | us-gaap |
Area Of Land
AreaOfLand
|
30000 | acre |
| CY2013Q1 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
1600000 | USD |
| CY2013Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
900000 | USD |
| CY2014Q1 | enzn |
Reduction In General And Administrative Expense
ReductionInGeneralAndAdministrativeExpense
|
300435 | USD |
| CY2014Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 5%"> <div><b>(1)</b></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 95%"> <div><b>Description of Business</b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px 0pt 36.75pt; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b> </b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Enzon Pharmaceuticals, Inc. (together with its subsidiaries, “Enzon” or the “Company”) receives royalty revenues from existing licensing arrangements with other companies primarily related to sales of six marketed drug products, namely, PegIntron <font style="FONT-SIZE: 10pt"><sup>®</sup></font> , Sylatron <font style="FONT-SIZE: 10pt"><sup>®</sup></font> , Macugen <font style="FONT-SIZE: 10pt"><sup>®</sup></font> , CIMZIA <font style="FONT-SIZE: 10pt"><sup>®</sup></font> , Oncaspar and Adagen. The primary source of the Company’s royalty revenues is sales of PegIntron, which is marketed by Merck & Co., Inc. (“Merck”). The Company currently has no clinical operations and limited corporate operations. The Company operates in one business segment. <font style="COLOR: #1a1a1a">Royalty revenues from sales of PegIntron accounted for approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 87</font>%, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 93</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 94</font>% of our total royalty revenues in 2013, 2012 and 2011, respectively, and</font> approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 76</font>%, and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 87</font>% of the Company’s total royalty revenues in the three months ended March 31, 2014 and 2013, respectively.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The Company was previously dedicated to the research and development of innovative therapeutics for patients with high unmet medical needs.   In December 2012, the Company announced that the Company’s Board of Directors (the “Board”) retained Lazard Frères & Co. LLC (“Lazard”) to act as financial advisor in a review of the possible sale or disposition of one or more corporate assets or a sale of the Company and that the Company’s Board of Directors established a special committee to oversee the Company’s sale review process. In connection with the Company’s sale review process, the Company substantially suspended all clinical development activities with a goal of conserving capital and maximizing value returned to the Company’s stockholders.   In April 2013, the Company announced that it had concluded a review of the sale or disposition of one or more corporate assets, or a sale of the Company.   The review did not result in a definitive offer to acquire the Company or all or substantially all of the Company’s assets.   In the same announcement, the Company also announced that its Board intends to distribute excess cash, expected to arise from ongoing royalty revenues, in the form of periodic dividends to stockholders. </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In April 2013, pursuant to the terms of an asset purchase agreement, the Company sold to Belrose Pharma, Inc. (“Belrose”), all right, title and interest to the Company’s Customized PEGylation platform and related assets. The assets included (i) intellectual property and know-how associated with the PEGylation platform, (ii) patents and know-how related to PEG- SN-38, (iii) patents and know-how associated with certain of the Company’s internal clinical programs and (iv) certain related supplies and equipment.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In September 2013, the Company entered into a sublease agreement, which was amended and restated in November 2013, with Axcellerate Pharma, LLC (“Axcellerate”), pursuant to which the Company subleases to Axcellerate a portion of the Company’s premises consisting of approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 30,000</font> rentable square feet of the building located at 20 Kingsbridge Road, Piscataway, New Jersey and a share of related parking areas. The term of the sublease commenced on <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">November 14, 2013</font> and will expire on <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">July 30, 2021</font>. The monthly fixed rent payable by Axcellerate to us under the sublease is as follows: (i) in year one, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10,417</font>, (ii) in year two, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">15,625</font>, (iii) in year three, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">20,833</font>, (iv) in year four, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">26,042</font> and (v) in each of years five through eight, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">35,000</font>. The sublease also provides for Axcellerate to pay additional rent to cover its applicable share of real estate taxes, operating expenses, sewer and gas usage, water usage, electricity usage and certain other charges incurred by Axcellerate.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In October 2013, the Company terminated its License and Collaboration Agreement with Santaris Pharma A/S (“Santaris”) whereby Enzon returned to Santaris the rights to molecules utilizing LNA technology including the mRNA antagonists targeting Hypoxia-Inducible Factor-1 alpha (HIF-1 alpha), the Androgen Receptor (AR), HER3, and Beta-catenin.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In March 2014, the Company entered into a novation agreement with Zhejiang Hisun Pharmaceutical Co., Ltd. ("Hisun") and Belrose (the “Novation Agreement”), pursuant to which the parties confirmed the novation of the Company’s Collaboration Agreement with Hisun to Belrose. As a consequence of the Novation Agreement agreement, the Company received a gross amount of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">550,000</font> from Hisun, the amount of a receivable previously written off and paid $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">249,565</font> to Belrose. The recording of these transactions resulted in a net reduction of general and administrative expense of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">300,435</font>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="COLOR: #1a1a1a">The Company wound down its remaining research and development activities during 2013</font> and has no intention of resuming any clinical development activities or acquiring new sources of royalty revenues.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2014Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
3000000 | shares |
| CY2014Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2014Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2014Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
170000000 | shares |
| CY2014Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
44093827 | shares |
| CY2014Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
44093827 | shares |
| CY2013Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.05 | |
| CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2523000 | USD |
| CY2014Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
8576000 | USD |
| CY2013Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
133000 | USD |
| CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2390000 | USD |
| CY2014Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.19 | |
| CY2013Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.05 | |
| CY2014Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.19 | |
| CY2013Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
43693000 | shares |
| CY2014Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
44092000 | shares |
| CY2013Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
61118000 | shares |
| CY2014Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
44253000 | shares |
| CY2013Q1 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
427000 | USD |
| CY2014Q1 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
0 | USD |
| CY2014Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
8521000 | USD |
| CY2013Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1579000 | USD |
| CY2014Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
0 | USD |
| CY2013Q1 | enzn |
Royalty Revenues From Sales Percentage
RoyaltyRevenuesFromSalesPercentage
|
0.87 | pure |
| CY2014Q1 | us-gaap |
Other Sales Revenue Net
OtherSalesRevenueNet
|
31000 | USD |
| CY2014Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
8975000 | USD |
| CY2014Q1 | us-gaap |
Royalty Revenue
RoyaltyRevenue
|
8944000 | USD |
| CY2014Q1 | enzn |
Royalty Revenues From Sales Percentage
RoyaltyRevenuesFromSalesPercentage
|
0.76 | pure |
| CY2013 | enzn |
Royalty Revenues From Sales Percentage
RoyaltyRevenuesFromSalesPercentage
|
0.87 | pure |
| CY2013Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
511000 | USD |
| CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6520000 | USD |
| CY2014Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
299000 | USD |
| CY2013Q1 | us-gaap |
Royalty Revenue
RoyaltyRevenue
|
9564000 | USD |
| CY2013Q1 | us-gaap |
Other Sales Revenue Net
OtherSalesRevenueNet
|
619000 | USD |
| CY2013Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
10183000 | USD |
| CY2013Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1215000 | USD |
| CY2014Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
932000 | USD |
| CY2013Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1308000 | USD |
| CY2014Q1 | us-gaap |
Accrued Rent Noncurrent
AccruedRentNoncurrent
|
512000 | USD |
| CY2013Q4 | us-gaap |
Accrued Rent Noncurrent
AccruedRentNoncurrent
|
558000 | USD |
| CY2013Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
3000000 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2014Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
14863000 | USD |
| CY2014Q1 | us-gaap |
Liabilities
Liabilities
|
1444000 | USD |
| CY2013Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2013Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
170000000 | shares |
| CY2013Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
44085870 | shares |
| CY2013Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
44085870 | shares |
| CY2014Q1 | us-gaap |
Assets Held For Sale Current
AssetsHeldForSaleCurrent
|
55000 | USD |
| CY2013Q4 | us-gaap |
Assets Held For Sale Current
AssetsHeldForSaleCurrent
|
90000 | USD |
| CY2014Q1 | us-gaap |
Assets
Assets
|
15217000 | USD |
| CY2013Q4 | us-gaap |
Assets
Assets
|
7121000 | USD |
| CY2014Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
188000 | USD |
| CY2013Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
93000 | USD |
| CY2014Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
744000 | USD |
| CY2013Q4 | us-gaap |
Liabilities
Liabilities
|
1866000 | USD |
| CY2014Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2013Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2014Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2013Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2014Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
441000 | USD |
| CY2013Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
441000 | USD |
| CY2014Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
134506000 | USD |
| CY2013Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
134512000 | USD |
| CY2014Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-121174000 | USD |
| CY2013Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-129698000 | USD |
| CY2014Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13773000 | USD |
| CY2013Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5255000 | USD |
| CY2014Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
15217000 | USD |
| CY2013Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
7121000 | USD |
| CY2013Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
2505000 | USD |
| CY2014Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
0 | USD |
| CY2013Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
7033000 | USD |
| CY2014Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
508000 | USD |
| CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3150000 | USD |
| CY2014Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
8467000 | USD |
| CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
1274000 | USD |
| CY2014Q1 | us-gaap |
Interest Expense
InterestExpense
|
0 | USD |
| CY2013Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
220000 | USD |
| CY2014Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
109000 | USD |
| CY2014Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
55000 | USD |
| CY2013Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-242000 | USD |
| CY2013Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
2148000 | USD |
| CY2014Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
8521000 | USD |
| CY2013Q3 | us-gaap |
Area Of Land
AreaOfLand
|
30000 | acre |
| CY2014Q1 | enzn |
Monthly Fixed Rent Receivable On Sublease Year One
MonthlyFixedRentReceivableOnSubleaseYearOne
|
10417 | USD |
| CY2014Q1 | enzn |
Monthly Fixed Rent Receivable On Sublease Year Two
MonthlyFixedRentReceivableOnSubleaseYearTwo
|
15625 | USD |
| CY2014Q1 | enzn |
Monthly Fixed Rent Receivable On Sublease Year Three
MonthlyFixedRentReceivableOnSubleaseYearThree
|
20833 | USD |
| CY2014Q1 | enzn |
Monthly Fixed Rent Receivable On Sublease Year Four
MonthlyFixedRentReceivableOnSubleaseYearFour
|
26042 | USD |
| CY2014Q1 | enzn |
Monthly Fixed Rent Receivable On Sublease In Each Of Year Five To Eight
MonthlyFixedRentReceivableOnSubleaseInEachOfYearFiveToEight
|
35000 | USD |
| CY2011 | enzn |
Royalty Revenues From Sales Percentage
RoyaltyRevenuesFromSalesPercentage
|
0.94 | pure |
| CY2012 | enzn |
Royalty Revenues From Sales Percentage
RoyaltyRevenuesFromSalesPercentage
|
0.93 | pure |
| CY2014Q1 | enzn |
Sub Lease Commencement Date
SubLeaseCommencementDate
|
2013-11-14 | |
| CY2014Q1 | enzn |
Sublease Expiration Date
SubleaseExpirationDate
|
2021-07-30 | |
| CY2013Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
80000 | USD |
| CY2014Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
0 | USD |
| CY2013Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
116000 | USD |
| CY2014Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
0 | USD |
| CY2013Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
-257000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | USD |
| CY2013Q1 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
281000 | USD |
| CY2014Q1 | us-gaap |
Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
|
0 | USD |
| CY2013Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
219000 | USD |
| CY2014Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
109000 | USD |
| CY2013Q1 | enzn |
Amortization Of Purchase Premium On Marketable Securities
AmortizationOfPurchasePremiumOnMarketableSecurities
|
536000 | USD |
| CY2014Q1 | enzn |
Amortization Of Purchase Premium On Marketable Securities
AmortizationOfPurchasePremiumOnMarketableSecurities
|
0 | USD |
| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
2753000 | USD |
| CY2014Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
8204000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
235000 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
146000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
41526000 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
0 | USD |
| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
41761000 | USD |
| CY2014Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
146000 | USD |
| CY2013Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
106000 | USD |
| CY2014Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
7000 | USD |
| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-120000 | USD |
| CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-7000 | USD |
| CY2013Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
44394000 | USD |
| CY2014Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
8343000 | USD |
| CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
77348000 | USD |
| CY2013Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
121742000 | USD |
| CY2012Q4 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
777000 | USD |
| CY2013Q4 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
905000 | USD |
| CY2013 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
4648000 | USD |
| CY2014Q1 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
219000 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
0 | USD |
| CY2014Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
0 | USD |
| CY2013 | enzn |
Restructuring Reserve Expense Or Adjustment
RestructuringReserveExpenseOrAdjustment
|
-167000 | USD |
| CY2014Q1 | enzn |
Restructuring Reserve Expense Or Adjustment
RestructuringReserveExpenseOrAdjustment
|
0 | USD |
| CY2013 | us-gaap |
Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
|
4943000 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
0 | USD |
| CY2014Q1 | us-gaap |
Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
|
0 | USD |
| CY2014Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
686000 | USD |
| CY2014Q1 | us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 5%"> <div><b>(3)</b></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 95%"> <div><b>New Accounting Pronouncements</b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In April 2014, the FASB issued ASU 2014-08, <i> Presentation of Financial Statem</i><i>ents (Topic 205) and <font style="FONT-FAMILY:Times New Roman, Times, Serif">Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures o</font>f Disposals of Components of an <font style="FONT-FAMILY:Times New Roman, Times, Serif">Entity.</font></i> <font style="FONT-FAMILY:Times New Roman, Times, Serif">The update changes the requirements for reporting discontinued operations in Subtopic 205-20. A discontinued operation may include</font> <i> </i><font style="FONT-FAMILY:Times New Roman, Times, Serif">a component of an entity or a group of components of an entity, or a business. A disposal of a component of an entity or a group of</font> <font style="FONT-FAMILY:Times New Roman, Times, Serif"> components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have)</font> <font style="FONT-FAMILY:Times New Roman, Times, Serif">a major effect on an entity’s operations and financial results. Examples include a disposal of a major geographic area, a major line of business or a major equity method investment. Additionally, the update requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income and expenses of discontinued operations. This update is effecti</font>ve <font style="FONT-FAMILY:Times New Roman, Times, Serif">prospectively for reporting periods beginning after December 15, 2014 and early adoption is permitted. The Company is currently evaluating the impact adoption will have on its financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">In February 2013, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (ASU 2013-02). ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. The amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is required to provide this information together, in one location, either on the face of the statement where net income is presented or as a separate disclosure in the notes to the financial statements. The amendments are effective prospectively for reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02 did not have a material impact on the Company’s consolidated financial position or results of operations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2014Q1 | dei |
Document Type
DocumentType
|
10-Q | |
| CY2014Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2014Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-03-31 | |
| CY2014Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | |
| CY2014Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
| CY2014Q1 | dei |
Trading Symbol
TradingSymbol
|
ENZN | |
| CY2014Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
44093827 | shares |
| CY2014Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
ENZON PHARMACEUTICALS INC | |
| CY2014Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000727510 | |
| CY2014Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
| CY2014Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
| CY2013Q1 | enzn |
Non Operating Income Expense Including Interest Expense
NonOperatingIncomeExpenseIncludingInterestExpense
|
-627000 | USD |
| CY2014Q1 | enzn |
Non Operating Income Expense Including Interest Expense
NonOperatingIncomeExpenseIncludingInterestExpense
|
109000 | USD |
| CY2013Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
39000 | USD |
| CY2013Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
-388000 | USD |
| CY2014Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
208000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
-14000 | USD |
| CY2014Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 5%"> <div><b>(2)</b></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 95%"> <div><b>Basis of Presentation</b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Interim Financial Statements</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The accompanying unaudited condensed consolidated financial statements have been prepared from the books and records of the Company in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and Rule 10-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, these financial statements do not include all of the information and footnotes required for complete annual financial statements. Interim results are not necessarily indicative of the results that may be expected for the full year. Interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Principles of Consolidation</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated as part of the consolidation.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2013Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
281000 | USD |
| CY2013Q1 | us-gaap |
Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
|
754000 | USD |
| CY2014Q1 | us-gaap |
Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
|
0 | USD |
| CY2014Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
8521000 | USD |
| CY2013Q1 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
3144000 | USD |
| CY2014Q1 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
8521000 | USD |
| CY2013Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
300000 | shares |
| CY2014Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>Use of Estimates</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2013Q1 | us-gaap |
Available For Sale Securities Gross Realized Gains Losses Sale Proceeds
AvailableForSaleSecuritiesGrossRealizedGainsLossesSaleProceeds
|
300000 | USD |
| CY2010Q4 | us-gaap |
Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
|
200000000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
-237000 | shares |
| CY2013Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
2390000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1888000 | shares |
| CY2014Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
161000 | shares |
| CY2013Q1 | us-gaap |
Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
|
17125000 | shares |
| CY2014Q1 | us-gaap |
Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
|
0 | shares |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2125000 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
| CY2014Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
