2012 Q3 Form 10-Q Financial Statement

#000114420412042349 Filed on August 01, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2012 Q2 2011 Q4
Revenue $14.47M $22.25M $3.860M
YoY Change 21.19% 51.24% -6.76%
Cost Of Revenue $9.110M $12.01M $3.050M
YoY Change -12.99% 0.07% 9.32%
Gross Profit $5.370M $10.24M $810.0K
YoY Change 265.31% 278.17% -40.44%
Gross Profit Margin 37.11% 46.01% 20.98%
Selling, General & Admin $1.650M $1.768M $1.800M
YoY Change 13.01% 50.08% -4.26%
% of Gross Profit 30.73% 17.27% 222.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $160.0K $130.0K $120.0K
YoY Change 23.08% 8.33% -7.69%
% of Gross Profit 2.98% 1.27% 14.81%
Operating Expenses $1.650M $1.768M $1.810M
YoY Change 13.01% 50.08% -3.21%
Operating Profit $3.720M $8.469M -$1.000M
YoY Change 37100.0% 453.89% 96.08%
Interest Expense -$170.0K $187.0K -$170.0K
YoY Change -10.53% -31.75% -45.16%
% of Operating Profit -4.57% 2.21%
Other Income/Expense, Net -$186.0K
YoY Change -31.11%
Pretax Income $3.540M $8.283M -$1.170M
YoY Change -2066.67% 557.9% 42.68%
Income Tax $1.350M $3.148M -$440.0K
% Of Pretax Income 38.14% 38.01%
Net Earnings $2.190M $5.135M -$720.0K
YoY Change -2090.91% 557.49% 28.57%
Net Earnings / Revenue 15.13% 23.08% -18.65%
Basic Earnings Per Share $0.22
Diluted Earnings Per Share $82.42K $0.20 -$30.28K
COMMON SHARES
Basic Shares Outstanding 23.87M shares 23.84M shares
Diluted Shares Outstanding 26.18M shares

Balance Sheet

Concept 2012 Q3 2012 Q2 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.400M $4.000M $4.000M
YoY Change -34.62% 37.93% 2.56%
Cash & Equivalents $3.400M $4.008M $3.958M
Short-Term Investments
Other Short-Term Assets $900.0K $3.800M $600.0K
YoY Change -50.0% 660.0% 50.0%
Inventory $34.70M $33.14M $17.73M
Prepaid Expenses
Receivables $5.100M $8.186M $2.453M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $44.20M $49.12M $24.76M
YoY Change 104.63% 87.47% 1.88%
LONG-TERM ASSETS
Property, Plant & Equipment $3.700M $3.727M $3.441M
YoY Change 23.33% 28.52% 14.7%
Goodwill
YoY Change
Intangibles $92.00K $89.00K
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $400.0K $214.0K $79.00K
YoY Change -85.19% -91.77% -97.86%
Total Long-Term Assets $4.100M $4.033M $6.695M
YoY Change -29.31% -27.98% -1.54%
TOTAL ASSETS
Total Short-Term Assets $44.20M $49.12M $24.76M
Total Long-Term Assets $4.100M $4.033M $6.695M
Total Assets $48.30M $53.15M $31.45M
YoY Change 76.28% 67.14% 1.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.800M $14.50M $5.200M
YoY Change 15.15% 400.0% -18.75%
Accrued Expenses $800.0K $700.0K $700.0K
YoY Change 100.0% 133.33% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.500M $5.400M $6.400M
YoY Change 123.68% -37.93% 28.0%
Total Short-Term Liabilities $14.30M $21.29M $12.29M
YoY Change 90.67% 80.41% 1.58%
LONG-TERM LIABILITIES
Long-Term Debt $5.000M $5.064M $121.0K
YoY Change 2400.0% 4964.0% -87.9%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.000M $5.064M $121.0K
YoY Change 2400.0% 4964.0% -87.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.30M $21.29M $12.29M
Total Long-Term Liabilities $5.000M $5.064M $121.0K
Total Liabilities $19.20M $26.35M $12.41M
YoY Change 149.35% 119.6% -5.25%
SHAREHOLDERS EQUITY
Retained Earnings -$16.43M -$24.07M
YoY Change
Common Stock $239.0K $238.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.10M $26.80M $19.04M
YoY Change
Total Liabilities & Shareholders Equity $48.30M $53.15M $31.45M
YoY Change 76.28% 67.14% 1.13%

Cashflow Statement

Concept 2012 Q3 2012 Q2 2011 Q4
OPERATING ACTIVITIES
Net Income $2.190M $5.135M -$720.0K
YoY Change -2090.91% 557.49% 28.57%
Depreciation, Depletion And Amortization $160.0K $130.0K $120.0K
YoY Change 23.08% 8.33% -7.69%
Cash From Operating Activities -$3.520M -$1.410M -$3.220M
YoY Change -147.7% -171.57% 544.0%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K -$380.0K -$530.0K
YoY Change -56.0% 375.0% 51.43%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$100.0K -$390.0K -$530.0K
YoY Change -60.0% 387.5% 51.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.060M 5.650M 2.520M
YoY Change -162.83% -310.04% 265.22%
NET CHANGE
Cash From Operating Activities -3.520M -1.410M -3.220M
Cash From Investing Activities -100.0K -390.0K -530.0K
Cash From Financing Activities 3.060M 5.650M 2.520M
Net Change In Cash -560.0K 3.850M -1.230M
YoY Change -124.78% -581.25% 668.75%
FREE CASH FLOW
Cash From Operating Activities -$3.520M -$1.410M -$3.220M
Capital Expenditures -$110.0K -$380.0K -$530.0K
Free Cash Flow -$3.410M -$1.030M -$2.690M
YoY Change -144.69% -150.24% 1693.33%

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us-gaap Concentration Risk Credit Risk
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<div style="FONT: 10pt Times New Roman, Times, Serif"> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> Credit risk</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of temporary cash investments and trade accounts receivable. The Company maintains its temporary cash investments in highly-rated financial institutions and, at times, the balances exceed FDIC insurance coverage. The Company's trade accounts receivables are primarily due from companies throughout the United States. The Company reviews each customer's credit history before extending credit.</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company establishes an allowance for doubtful accounts based on factors associated with the credit risk of specific accounts, historical trends, and other information. The carrying value of the Company&#x2019;s accounts receivable is reduced by the established allowance for doubtful accounts. The allowance for doubtful accounts includes any accounts receivable balances that are determined to be uncollectible, along with a general reserve for the remaining accounts receivable balances. The Company adjusts its reserves based on factors that affect the collectability of the accounts receivable balances.</p> <p style="TEXT-ALIGN: left; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> For the six months ended June 30, 2012, three customers each accounted for 10% or more of the Company&#x2019;s revenues and in the aggregate these three customers accounted for 40% of the Company&#x2019;s revenues. For the six months ended June 30, 2011, no one customer accounted for 10% or more of the Company&#x2019;s revenues.</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The loss of a principal customer or a decline in the economic prospects of and/or a reduction in purchases of the Company's products or services by any such customer could have an adverse effect on the Company's future financial position and results of operations.</p> </div>
us-gaap Depreciation And Amortization
DepreciationAndAmortization
264000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3537000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-556000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1000
us-gaap Income Taxes Paid
IncomeTaxesPaid
899000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.66
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
533000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
1711000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
50000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2164000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
4387000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3307000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26149740 shares
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5734000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
12330000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1354000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4143000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8313 shares
us-gaap Operating Expenses
OperatingExpenses
3518000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23813776 shares
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2015-06-22
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15403000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y9M18D
us-gaap Revenues
Revenues
37105000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2329000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
us-gaap Gross Profit
GrossProfit
16205000
us-gaap Interest Paid
InterestPaid
358000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
20000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3086000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
shares
us-gaap Net Income Loss
NetIncomeLoss
7644000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-357000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4686000
us-gaap Use Of Estimates
UseOfEstimates
<div style="FONT: 10pt Times New Roman, Times, Serif"> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> Estimates and risks</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect reported amounts of certain assets and liabilities, the disclosure of contingent assets and liabilities, and the results of operations during the reporting period. Actual results could differ from these estimates.</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company utilizes both internal and external sources to evaluate potential current and future liabilities for various commitments and contingencies. In the event that the assumptions or conditions change in the future, the estimates could differ from the original estimates.</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Several of the Company's accounting policies involve significant judgments, uncertainties and estimations. The Company bases its estimates on historical experience and on various other assumptions 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. Actual results may differ from these estimates under different assumptions or conditions. To the extent that actual results differ from management's judgments and estimates, there could be a material adverse effect on the Company. On a continuous basis, the Company evaluates its estimates, including, but not limited to, those estimates related to its allowance for doubtful accounts, inventory reserves, and valuation allowance for the deferred tax assets relating to its NOLs and commitments and contingencies. With respect to accounts receivable, the Company estimates the necessary allowance for doubtful accounts based on both historical and anticipated trends of payment history and the ability of the customer to fulfill its obligations. For inventory, the Company evaluates both current and anticipated sales prices of its products to determine if a write down of inventory to net realizable value is necessary. In determining the Company&#x2019;s valuation allowance for its deferred tax assets, the Company assesses its ability to generate taxable income in the future.</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="COLOR: black">The Company participates in an industry that is highly regulated, changes in which could affect operating results. Currently the Company purchases virgin, hydrochlorofluorocarbon (&#x201C;HCFC&#x201D;) and hydrofluorocarbon (&#x201C;HFC&#x201D;) refrigerants and reclaimable, primarily HCFC and chlorofluorocarbon (&#x201C;CFC&#x201D;), refrigerants from suppliers and its customers. Effective January 1, 1996, the Clean Air Act (the &#x201C;Act&#x201D;) prohibited the production of virgin CFC refrigerants and limited the production of virgin HCFC refrigerants.</font> Effective January 2004, the Act further limited the production of virgin HCFC refrigerants and federal regulations were enacted which established production and consumption allowances for HCFC refrigerants and which imposed limitations on the importation of certain virgin HCFC refrigerants. Additionally, effective January 1, 2010, the Act further limited the production of virgin HCFC refrigerants and additional federal regulations were enacted which imposed further limitation and a phase down on the use, production and importation of virgin HCFC refrigerants. As a result of litigation, the federal regulations implementing the January 2010 phase down schedule have been vacated. Under the Act, production of certain virgin HCFC refrigerants is scheduled to be phased out during the period 2010 through 2020, and production of all virgin HCFC refrigerants is scheduled to be phased out by 2030. In January 2012, the Environmental Protection Agency (&#x201C;EPA&#x201D;) published a proposed rule, which would further reduce the production of HCFC refrigerants when compared to the reductions established in the January 1, 2010 published rule. The reductions set forth in the proposed rule range from 11 to 47 percent from the levels established in the prior rule, for calendar years 2012, 2013, and 2014. The proposed rule is not final and in the interim the EPA has provided allowance holders with no action assurance letters, which permits allowance holders to import or produce up to an amount that equals 55% of the amount each allowance holder could import or produce in 2011.</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="COLOR: black">To the extent that the Company is unable to</font> source sufficient quantities of refrigerants <font style="COLOR: black">or is unable to obtain refrigerants on commercially reasonable terms or experiences a decline in demand and/or price for refrigerants, the Company could realize reductions in refrigerant processing and possible loss of revenues, which would have a material adverse affect on operating results.</font></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company is subject to various legal proceedings. The Company assesses the merit and potential liability associated with each of these proceedings. In addition, the Company estimates potential liability, if any, related to these matters. To the extent that these estimates are not accurate, or circumstances change in the future, the Company could realize liabilities, which would have a material adverse effect on operating results and its financial position.</p> </div>
us-gaap Interest Expense
InterestExpense
358000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
701000
hdsn Amortization Of Deferred Financing Costs
AmortizationOfDeferredFinancingCosts
0
hdsn Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodTotalIntrinsicValue
0
hdsn Entity Wide Disclosure Description Of Concentrations Of Revenue From External Customers
EntityWideDisclosureDescriptionOfConcentrationsOfRevenueFromExternalCustomers
Three customers each accounted for 10% or more of the Company's revenues and in the aggregate these three customers accounted for 40% of the Company's revenues
hdsn Customers Accounting For Ten Percent Or More Of Net Revenue
CustomersAccountingForTenPercentOrMoreOfNetRevenue
3 Customer
hdsn Cash Equivalents Maturity Period
CashEquivalentsMaturityPeriod
P90D
hdsn Entity Wide Revenue Major Customer Percentage Of Revenue
EntityWideRevenueMajorCustomerPercentageOfRevenue
0.40 pure
CY2011 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2500 shares
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.12
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
49000 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
75000 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.31
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1529000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2011Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12005000
CY2011Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
4000
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
723000
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24989119 shares
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1259000
CY2011Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
455000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2011Q2 us-gaap Operating Expenses
OperatingExpenses
1178000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23780606 shares
CY2011Q2 us-gaap Revenues
Revenues
14712000
CY2011Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000
CY2011Q2 us-gaap Gross Profit
GrossProfit
2707000
CY2011Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1471875 shares
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
781000
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-270000
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
478000
CY2011Q2 us-gaap Interest Expense
InterestExpense
274000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8469000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2012Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12014000
CY2012Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1095000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26177960 shares
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
8283000
CY2012Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
673000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
1768000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23841996 shares
CY2012Q2 us-gaap Revenues
Revenues
22251000
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
CY2012Q2 us-gaap Gross Profit
GrossProfit
10237000
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
shares
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
5135000
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-186000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3148000
CY2012Q2 us-gaap Interest Expense
InterestExpense
187000

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