2015 Q2 Form 10-Q Financial Statement
#000156459016022877 Filed on August 05, 2016
Income Statement
| Concept | 2015 Q2 |
|---|---|
| Revenue | $19.75M |
| YoY Change | -51.51% |
| Cost Of Revenue | $23.10M |
| YoY Change | -8.88% |
| Gross Profit | -$3.306M |
| YoY Change | -121.5% |
| Gross Profit Margin | -16.74% |
| Selling, General & Admin | $5.600M |
| YoY Change | -10.21% |
| % of Gross Profit | |
| Research & Development | $3.600M |
| YoY Change | -1.83% |
| % of Gross Profit | |
| Depreciation & Amortization | $4.680M |
| YoY Change | 4.7% |
| % of Gross Profit | |
| Operating Expenses | $9.100M |
| YoY Change | -8.25% |
| Operating Profit | -$12.45M |
| YoY Change | -328.12% |
| Interest Expense | -$900.0K |
| YoY Change | -729.37% |
| % of Operating Profit | |
| Other Income/Expense, Net | -$489.0K |
| YoY Change | 279.07% |
| Pretax Income | -$12.94M |
| YoY Change | -342.82% |
| Income Tax | -$4.400M |
| % Of Pretax Income | |
| Net Earnings | -$8.564M |
| YoY Change | -328.25% |
| Net Earnings / Revenue | -43.36% |
| Basic Earnings Per Share | -$0.66 |
| Diluted Earnings Per Share | -$0.66 |
| COMMON SHARES | |
| Basic Shares Outstanding | 13.15M |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2015 Q2 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $45.20M |
| YoY Change | -22.87% |
| Cash & Equivalents | $25.61M |
| Short-Term Investments | $19.60M |
| Other Short-Term Assets | $11.30M |
| YoY Change | -17.52% |
| Inventory | $131.4M |
| Prepaid Expenses | |
| Receivables | $13.30M |
| Other Receivables | $13.90M |
| Total Short-Term Assets | $215.2M |
| YoY Change | -13.33% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $99.20M |
| YoY Change | -5.34% |
| Goodwill | |
| YoY Change | |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | $5.800M |
| YoY Change | -14.71% |
| Total Long-Term Assets | $108.0M |
| YoY Change | -4.76% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $215.2M |
| Total Long-Term Assets | $108.0M |
| Total Assets | $323.2M |
| YoY Change | -10.64% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $3.100M |
| YoY Change | -34.04% |
| Accrued Expenses | $9.600M |
| YoY Change | |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $0.00 |
| YoY Change | |
| Long-Term Debt Due | |
| YoY Change | |
| Total Short-Term Liabilities | $13.00M |
| YoY Change | -54.05% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $0.00 |
| YoY Change | |
| Other Long-Term Liabilities | |
| YoY Change | |
| Total Long-Term Liabilities | $0.00 |
| YoY Change | |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $13.00M |
| Total Long-Term Liabilities | $0.00 |
| Total Liabilities | $14.10M |
| YoY Change | -53.59% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | |
| YoY Change | |
| Common Stock | |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $309.0M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $323.2M |
| YoY Change | -10.63% |
Cashflow Statement
| Concept | 2015 Q2 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | -$8.564M |
| YoY Change | -328.25% |
| Depreciation, Depletion And Amortization | $4.680M |
| YoY Change | 4.7% |
| Cash From Operating Activities | $3.800M |
| YoY Change | -75.11% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | -$2.610M |
| YoY Change | -69.97% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | $1.270M |
| YoY Change | -22.09% |
| Cash From Investing Activities | -$1.340M |
| YoY Change | -81.02% |
| 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 |
| YoY Change | -100.0% |
| NET CHANGE | |
| Cash From Operating Activities | 3.800M |
| Cash From Investing Activities | -1.340M |
| Cash From Financing Activities | 0.000 |
| Net Change In Cash | 2.460M |
| YoY Change | -70.29% |
| FREE CASH FLOW | |
| Cash From Operating Activities | $3.800M |
| Capital Expenditures | -$2.610M |
| Free Cash Flow | $6.410M |
| YoY Change | -73.25% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
998000 | ||
| geos |
Inventory Obsolescence Expense
InventoryObsolescenceExpense
|
2566000 | ||
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
2000 | ||
| us-gaap |
Realized Investment Gains Losses
RealizedInvestmentGainsLosses
|
-4000 | ||
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
152000 | ||
| geos |
Accretion Of Discounts On Short Term Investments
AccretionOfDiscountsOnShortTermInvestments
|
174000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3434000 | ||
| us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-1827000 | ||
| us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
6829000 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-5274000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-1149000 | ||
| CY2016Q2 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
27223000 | |
| CY2016Q2 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-33661000 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.346 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | ||
| CY2016Q2 | geos |
Notes And Loans Receivable Net
NotesAndLoansReceivableNet
|
4094000 | |
| CY2015Q3 | geos |
Notes And Loans Receivable Net
NotesAndLoansReceivableNet
|
3520000 | |
| CY2016Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
44366000 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-33661000 | ||
| CY2015Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
55074000 | |
| CY2016Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
2019000 | |
| CY2015Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
5632000 | |
| CY2016Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
74685000 | |
| CY2015Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
70769000 | |
| CY2016Q2 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
10948000 | |
| CY2015Q3 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
6675000 | |
| geos |
Inventories Transferred To Rental Equipment
InventoriesTransferredToRentalEquipment
|
3000000 | ||
| geos |
Inventories Transferred To Rental Equipment
InventoriesTransferredToRentalEquipment
|
4800000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-19191000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-19191000 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | ||
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-7751000 | ||
| CY2015Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
25606000 | |
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Certain amounts previously presented in the consolidated financial statements have been reclassified to conform to the current year presentation. During the three months ended December 31, 2015, the Company elected to early adopt Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-17-<font style="font-style:italic;">Income Taxes (Topic 740)</font> requiring all deferred tax assets and liabilities to be classified as non-current on the balance sheet. The purpose of this adoption was to simplify the presentation of deferred income taxes.  The accompanying balance sheet as of September 30, 2015 has been retrospectively adjusted to reflect the adoption of this standard. The effect of the adjustment at September 30, 2015 was a $6.4 million decrease in current assets, a $10,000 decrease in current liabilities, a $3.0 million increase in non-current deferred tax assets and a $3.4 million decrease in non-current deferred tax liabilities. Such reclassification had no effect on our previously reported net loss, stockholders’ equity or cash flows.</p></div> | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amount of assets, liabilities, revenue and expenses reported in the financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. The Company continually evaluates its estimates, including those related to bad debt reserves, inventory obsolescence reserves, self-insurance reserves, product warranty reserves, impairment of long-lived assets and deferred income tax assets. The Company bases its estimates on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities which are not readily available from other sources. Actual results may differ from these estimates under different conditions or assumptions.</p></div> | ||
| CY2016Q2 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
14180000 | |
| CY2015Q3 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
15209000 | |
| CY2016Q2 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
1000000 | |
| us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
0 | ||
| CY2015Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
2326000 | |
| us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
411000 | ||
| us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
2106000 | ||
| CY2016Q2 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
631000 | |
| CY2016Q2 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
31000 | |
| CY2015Q3 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
18114000 | |
| CY2015Q3 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
3000 | |
| CY2015Q3 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
5000 | |
| CY2016Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
2170000 | |
| CY2015Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
2516000 | |
| CY2016Q2 | geos |
Notes And Loans Receivable Gross
NotesAndLoansReceivableGross
|
4094000 | |
| CY2015Q3 | geos |
Notes And Loans Receivable Gross
NotesAndLoansReceivableGross
|
3520000 | |
| CY2016Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
52500000 | |
| CY2015Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
48400000 | |
| CY2016Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
300000 | |
| us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y8M12D | ||
| CY2016Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
276150 | |
| CY2016Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
159000 | |
| us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
2 | ||
| CY2015Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-8564000 | |
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | ||
| CY2015Q2 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
| CY2016Q1 | us-gaap |
Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
|
1000000 |
