2020 Q2 Form 10-Q Financial Statement
#000121070820000028 Filed on August 05, 2020
Income Statement
Concept | 2020 Q2 | 2019 Q2 | 2019 Q1 |
---|---|---|---|
Revenue | $24.57M | $26.41M | $16.19M |
YoY Change | -6.97% | 55.24% | -0.17% |
Cost Of Revenue | $15.60M | $14.76M | $6.791M |
YoY Change | 5.73% | 137.45% | 12.04% |
Gross Profit | $8.900M | $11.66M | $9.396M |
YoY Change | -23.66% | 7.94% | -7.47% |
Gross Profit Margin | 36.22% | 44.14% | 58.05% |
Selling, General & Admin | $9.800M | $12.40M | $11.40M |
YoY Change | -20.97% | 7.83% | -10.94% |
% of Gross Profit | 110.11% | 106.36% | 121.33% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $30.00K | $20.00K | $18.00K |
YoY Change | 50.0% | -97.35% | |
% of Gross Profit | 0.34% | 0.17% | 0.19% |
Operating Expenses | $25.46M | $27.21M | $18.17M |
YoY Change | -6.43% | 136.57% | 41.95% |
Operating Profit | -$883.0K | -$792.0K | -$1.982M |
YoY Change | 11.49% | -37.09% | -25.43% |
Interest Expense | $40.00K | $125.0K | $313.0K |
YoY Change | -68.0% | 108.33% | |
% of Operating Profit | |||
Other Income/Expense, Net | $337.0K | -$91.00K | -$37.00K |
YoY Change | -470.33% | 102.22% | -44.78% |
Pretax Income | -$506.0K | -$758.0K | -$1.706M |
YoY Change | -33.25% | -39.07% | -37.39% |
Income Tax | $266.0K | $142.0K | $65.00K |
% Of Pretax Income | |||
Net Earnings | -$772.0K | -$900.0K | -$1.902M |
YoY Change | -14.22% | -34.02% | -117.74% |
Net Earnings / Revenue | -3.14% | -3.41% | -11.75% |
Basic Earnings Per Share | -$0.27 | ||
Diluted Earnings Per Share | -$0.27 | -$290.3K | -$575.8K |
COMMON SHARES | |||
Basic Shares Outstanding | 2.839M shares | 3.082M shares | 3.288M shares |
Diluted Shares Outstanding | 2.839M shares | 3.082M shares | 3.288M shares |
Balance Sheet
Concept | 2020 Q2 | 2019 Q2 | 2019 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $29.50M | $28.50M | $30.30M |
YoY Change | 3.51% | -26.17% | -29.37% |
Cash & Equivalents | $29.52M | $28.54M | $30.27M |
Short-Term Investments | |||
Other Short-Term Assets | $1.600M | $1.300M | $1.200M |
YoY Change | 23.08% | 30.0% | 50.0% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $12.30M | $15.69M | $12.59M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $43.34M | $44.26M | $44.03M |
YoY Change | -2.09% | -17.81% | -23.21% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $146.0K | $217.0K | $184.0K |
YoY Change | -32.72% | 4240.0% | 2528.57% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $7.000K | $7.000K | $7.000K |
YoY Change | 0.0% | -98.12% | -97.94% |
Total Long-Term Assets | $1.399M | $2.886M | $1.827M |
YoY Change | -51.52% | 330.75% | 185.47% |
TOTAL ASSETS | |||
Total Short-Term Assets | $43.34M | $44.26M | $44.03M |
Total Long-Term Assets | $1.399M | $2.886M | $1.827M |
Total Assets | $44.74M | $47.15M | $45.85M |
YoY Change | -5.12% | -13.52% | -20.9% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $670.0K | $1.022M | $983.0K |
YoY Change | -34.44% | 26.8% | -44.78% |
Accrued Expenses | $9.300M | $8.600M | $7.500M |
YoY Change | 8.14% | -3.37% | 0.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $589.0K | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $10.51M | $9.603M | $8.508M |
YoY Change | 9.49% | -4.67% | -23.52% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $700.0K | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $187.0K | $168.0K | $151.0K |
YoY Change | 11.31% | -70.93% | -83.11% |
Total Long-Term Liabilities | $187.0K | $168.0K | $151.0K |
YoY Change | 11.31% | -70.93% | -83.11% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $10.51M | $9.603M | $8.508M |
Total Long-Term Liabilities | $187.0K | $168.0K | $151.0K |
Total Liabilities | $12.34M | $12.13M | $11.04M |
YoY Change | 1.75% | -3.94% | -21.12% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$437.8M | -$438.4M | -$437.5M |
YoY Change | -0.13% | 0.99% | 1.1% |
Common Stock | $486.3M | $485.7M | $485.3M |
YoY Change | 0.12% | 0.26% | 0.21% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $15.33M | $12.74M | $12.50M |
YoY Change | 20.31% | 54.08% | 60.37% |
Treasury Stock Shares | 987.0K shares | 698.0K shares | 6.828M shares |
Shareholders Equity | $32.39M | $34.00M | $34.82M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $44.74M | $46.13M | $45.85M |
YoY Change | -3.03% | -15.39% | -20.9% |
Cashflow Statement
Concept | 2020 Q2 | 2019 Q2 | 2019 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$772.0K | -$900.0K | -$1.902M |
YoY Change | -14.22% | -34.02% | -117.74% |
Depreciation, Depletion And Amortization | $30.00K | $20.00K | $18.00K |
YoY Change | 50.0% | -97.35% | |
Cash From Operating Activities | $1.870M | -$1.520M | -$6.216M |
YoY Change | -223.03% | -57.06% | -57.73% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | -$30.00K | -$40.00K |
YoY Change | -100.0% | -85.71% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Cash From Investing Activities | $0.00 | -$30.00K | -$35.00K |
YoY Change | -100.0% | 200.0% | -100.13% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $3.703M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 1.320M | -230.0K | -$4.018M |
YoY Change | -673.91% | -54.0% | -150.87% |
NET CHANGE | |||
Cash From Operating Activities | 1.870M | -1.520M | -$6.216M |
Cash From Investing Activities | 0.000 | -30.00K | -$35.00K |
Cash From Financing Activities | 1.320M | -230.0K | -$4.018M |
Net Change In Cash | 3.190M | -1.780M | -$10.22M |
YoY Change | -279.21% | -56.05% | -147.99% |
FREE CASH FLOW | |||
Cash From Operating Activities | $1.870M | -$1.520M | -$6.216M |
Capital Expenditures | $0.00 | -$30.00K | -$40.00K |
Free Cash Flow | $1.870M | -$1.490M | -$6.176M |
YoY Change | -225.5% | -57.91% | -57.19% |
Facts In Submission
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|
48000 | USD | |
CY2019Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.29 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.88 | ||
CY2020Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.27 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.43 | ||
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
54000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-29000 | USD | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.084 | ||
CY2019Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-900000 | USD |
us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-2671000 | USD | |
CY2020Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-772000 | USD |
us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-1283000 | USD | |
CY2019Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-758000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-2464000 | USD | |
CY2020Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-506000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-910000 | USD | |
CY2019Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.29 | |
us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.84 | ||
CY2020Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.27 | |
us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.43 | ||
CY2019Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
0 | USD |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-131000 | USD | |
CY2020Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
0 | USD |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
0 | USD | |
CY2019Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
0.00 | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
-0.04 | ||
CY2020Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
0.00 | |
us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
0.00 | ||
CY2019Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
142000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
207000 | USD | |
CY2020Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
266000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
373000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
436000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
271000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1107000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
543000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4565000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-105000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-246000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
592000 | USD | |
CY2019Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2020Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2019Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
125000 | USD |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
438000 | USD | |
CY2020Q2 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
40000 | USD |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
119000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
1000 | USD | |
CY2019Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
9729000 | USD |
us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
18901000 | USD | |
CY2020Q2 | us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
8335000 | USD |
us-gaap |
Labor And Related Expense
LaborAndRelatedExpense
|
16552000 | USD | |
CY2020Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
330000 | USD |
CY2020Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
21000 | USD |
CY2020Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
175000 | USD |
CY2020Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
134000 | USD |
CY2019Q4 | us-gaap |
Liabilities
Liabilities
|
10670000 | USD |
CY2020Q2 | us-gaap |
Liabilities
Liabilities
|
12344000 | USD |
CY2019Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
46704000 | USD |
CY2020Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
44736000 | USD |
CY2019Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
9488000 | USD |
CY2020Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
10514000 | USD |
CY2019Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
0 | USD |
CY2020Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
737000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-4252000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-927000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-69000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-11000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7735000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-855000 | USD | |
CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-900000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2802000 | USD | |
CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-772000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1283000 | USD | |
CY2020Q2 | us-gaap |
Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
|
10 | Country |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | Segment | |
CY2020Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
444000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-343000 | USD | |
CY2019Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
27206000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
45375000 | USD | |
CY2020Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
25456000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
50111000 | USD | |
CY2019Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-792000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2774000 | USD | |
CY2020Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-883000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1407000 | USD | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
271000 | USD | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
277000 | USD | |
CY2019Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
246000 | USD |
CY2020Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
267000 | USD |
CY2019Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
160000 | USD |
CY2020Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
63000 | USD |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
169000 | USD | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
129000 | USD | |
CY2019Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
401000 | USD |
CY2020Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
325000 | USD |
CY2020Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y4M24D | |
CY2019Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
8178000 | USD |
CY2020Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
8988000 | USD |
CY2019Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
7000 | USD |
CY2020Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
7000 | USD |
CY2019Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-106000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-41000 | USD | |
CY2019Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-106000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-41000 | USD | |
CY2020Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
444000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-343000 | USD | |
CY2019Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
177000 | USD |
CY2020Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
187000 | USD |
CY2019Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-91000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-128000 | USD | |
CY2020Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
337000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
378000 | USD | |
CY2019Q2 | us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
2701000 | USD |
us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
4889000 | USD | |
CY2020Q2 | us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
1454000 | USD |
us-gaap |
Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
|
3535000 | USD | |
CY2019Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
3703000 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
4211000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
2239000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
41000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
14000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
69000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
11000 | USD | |
CY2019Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2020Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2019Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2020Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2019Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2020Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2019Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2020Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2019Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2020Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2019Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
804000 | USD |
CY2020Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1366000 | USD |
us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
16406000 | USD | |
us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
34427000 | USD | |
CY2019Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
186000 | USD |
CY2020Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
146000 | USD |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-9000 | USD | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
9000 | USD | |
us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
16406000 | USD | |
us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
34427000 | USD | |
CY2019Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
148000 | USD |
CY2020Q2 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
154000 | USD |
CY2019Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
380000 | USD |
CY2020Q2 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
225000 | USD |
CY2019Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-436507000 | USD |
CY2020Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-437790000 | USD |
CY2019Q2 | us-gaap |
Revenues
Revenues
|
26414000 | USD |
us-gaap |
Revenues
Revenues
|
42601000 | USD | |
CY2020Q2 | us-gaap |
Revenues
Revenues
|
24573000 | USD |
us-gaap |
Revenues
Revenues
|
48704000 | USD | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
723000 | USD | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
77000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
609000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
237000 | USD | |
CY2016Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
240000 | shares |
CY2020Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
46900 | shares |
CY2019Q4 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
0 | USD |
CY2020Q2 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
589000 | USD |
us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
750 | shares | |
CY2019Q2 | us-gaap |
Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
|
20000000 | shares |
CY2015Q3 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
10000000 | USD |
CY2019Q1 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
246863 | shares |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
40487000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
34816000 | USD |
CY2019Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
34001000 | USD |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
36034000 | USD |
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
32630000 | USD |
CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
32392000 | USD |
CY2018Q4 | us-gaap |
Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
|
0.001 | |
CY2019Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
726000 | shares |
CY2020Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
987000 | shares |
CY2019Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
13072000 | USD |
CY2020Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
15325000 | USD |
CY2019Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
663000 | USD |
CY2020Q2 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
648000 | USD |
CY2019Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
|
551000 | USD |
CY2020Q2 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
|
544000 | USD |
CY2019Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
3082000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
3184000 | shares | |
CY2020Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2839000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2952000 | shares | |
CY2019Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3082000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3184000 | shares | |
CY2020Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2839000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2952000 | shares | |
us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ACCOUNTING PRONOUNCEMENTS</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Adoption of New Accounting Pronouncements</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 1, 2019, we elected to adopt Accounting Standards Update ("ASU") No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract ("ASU 2018-15") on a prospective basis. This ASU provides guidance on implementation costs incurred in a cloud computing arrangement (“CCA”) that is a service contract. ASU 2018-15 aligns the accounting for such costs with the guidance on capitalizing costs associated with developing or obtaining internal-use software. Specifically, ASU 2018-15 amends Accounting Standards Codification ("ASC") 350 to include in its scope implementation costs of a CCA that is a service contract and clarifies that a customer should apply ASC 350 to determine which implementation costs should be capitalized in such a CCA.  The amendments in ASU 2018-15 are effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods.  ASU 2018-15 had no impact on the Company's consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">    </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 1, 2019, we adopted ASU No. 2016-02, "Leases (Topic 842)"</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">("ASU 2016-02"). This ASU requires a company to recognize lease assets and liabilities arising from operating leases in the statement of financial position. This ASU does not significantly change the previous lease guidance for how a lessee should recognize the recognition, measurement, and presentation of expenses and cash flows arising from a lease. Additionally, the criteria for classifying a finance lease versus an operating lease are substantially the same as the previous guidance. In July 2018, the Financial Accounting Standards Board (the "FASB") issued ASU No. 2018-11, "Leases (Topic 842): Targeted Improvements" ("ASU 2018-11"). This ASU allows adoption of the standard as of the effective date without restating prior periods. We did not elect to recognize the lease assets and liabilities in the statement of financial position for short-term leases. For more information, see Note 9.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 1, 2019, we adopted ASU No. 2018-02,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">"Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" ("ASU 2018-02"), which provides guidance on reclassification of certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017 (the "Tax Act"), enacted on December 22, 2017. ASU 2018-02 allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the application of the Tax Act. Additionally, ASU 2018-02 requires financial statement preparers to disclose (1) a description of their accounting policy for releasing income tax effects from accumulated other comprehensive income, (2) whether they elect to reclassify the stranded income tax effects from the Tax Act, and (3) information about other income tax effects related to the application of the Tax Act that are reclassified from accumulated other comprehensive income to retained earnings, if any. The adoption had no impact on the Company's consolidated financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recent Accounting Standard Update Not Yet Adopted</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, FASB issued ASU 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (“ASU 2016-13”). This standard requires an impairment model (known as the current expected credit loss ("CECL") model) that is based on expected losses rather than incurred losses. Under the new guidance, each reporting entity should estimate an allowance for expected credit losses, which is intended to result in more timely recognition of losses. This model replaces multiple existing impairment models in current U.S. GAAP, which generally requires a loss to be incurred before it is recognized. The new standard applies to trade receivables arising from revenue transactions such as contract assets and accounts receivable. Under ASC 606, revenue is recognized when, among other criteria, it is probable that an entity will collect the consideration it is entitled to when goods or services are transferred to a customer. When trade receivables are recorded, they become subject to the CECL model and estimates of expected credit losses on trade receivables over their contractual life will be required to be recorded at inception based on historical information, current conditions, and reasonable and supportable forecasts. This guidance is effective for smaller reporting companies for annual periods beginning after December 15, 2022, including the interim periods in the year. Early adoption is permitted. The Company will adopt the guidance when it becomes effective.</font></div></div> | ||
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Nature Of Operations
NatureOfOperations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is comprised of the operations, assets, and liabilities of the Company's </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> regional businesses of Hudson Americas, Hudson Asia Pacific, and Hudson Europe. The Company provides Recruitment Process Outsourcing ("RPO") permanent recruitment and contracting outsourced recruitment solutions. These services are tailored to the individual needs of primarily mid-to-large-cap multinational companies. The Company's RPO delivery teams utilize state-of-the-art recruitment process methodologies and project management expertise in their flexible, turnkey solutions to meet clients' ongoing business needs. The Company's RPO services include complete recruitment outsourcing, project-based outsourcing, contingent workforce solutions, and recruitment consulting.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates directly in </font><font style="font-family:inherit;font-size:10pt;">ten</font><font style="font-family:inherit;font-size:10pt;"> countries with </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> reportable geographic business segments: Americas, Asia Pacific, and Europe. See Note 12 for further details regarding the reportable segments. </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate expenses are reported separately from the reportable segments and pertain to certain functions, such as executive management, corporate governance, human resources, accounting, tax, marketing, information technology, and treasury. A portion of these expenses are attributed to the reportable segments for providing the above services to them and have been allocated to the segments as management service expenses and are included in the segments’ non-operating other income (expense).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In December 2019, a novel strain of coronavirus, referred to as COVID-19, was reported to have originated in Wuhan, Hubei Province, China. On January 30, 2020, the World Health Organization (“WHO”) declared that the virus had become a global public-health emergency. On March 11, 2020, the WHO declared the outbreak to be a pandemic, based on the rapid increase in exposure globally. Many countries around the world have imposed quarantines and restrictions on travel and mass gatherings to slow the spread of the virus. During July and August 2020 our business continues to be impacted by the outbreak and the accompanying economic downturn. Some of our customers continue to have instituted hiring freezes, while other customers operating in the banking, pharmaceutical and technology industries, which may be considered as essential businesses in different jurisdictions, or customers that are more capable of working remotely than other industries, have been allowed to operate as usual. The inability to conduct in-person interviews has also impacted our business. The expected timeline for this reduction in demand for our services remains uncertain and difficult to predict considering the rapidly evolving landscape.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In connection with the COVID-19 pandemic, certain foreign government organizations have begun to offer wage assistance subsidies and tax credits to companies in exchange for maintaining specified levels of compensation and related costs for employees residing in those countries. The Company recognizes the receipt of funds from these organizations in the Other income (expense), net caption on the Condensed Consolidated Statements of Operations. For the three and six months ended June 30, 2020, </font><font style="font-family:inherit;font-size:10pt;">$265</font><font style="font-family:inherit;font-size:10pt;"> related to foreign government assistance has been received and is included within Other income (expense), net. In the United States, the Company received a </font><font style="font-family:inherit;font-size:10pt;">$1.3 million</font><font style="font-family:inherit;font-size:10pt;"> loan in connection with the Paycheck Protection Program (“PPP”), administered by the U.S. Small Business Administration (“SBA”), under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). All or a portion of the PPP loan may be forgiven by the SBA under certain conditions. The Company intends to apply for loan forgiveness in the third quarter of 2020. To the extent that forgiveness is obtained for any portion of the loan in the future, it will be reflected in Other income (expense), net. For more information, see Note 9. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On June 10, 2019, the Company announced a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-10 (the “Reverse Split”) and that it had filed a Certificate of Amendment of the Company's Amended and Restated Certificate of Incorporation in order to effect the Reverse Split. The filed certificate also reduced the number of authorized shares of common stock to </font><font style="font-family:inherit;font-size:10pt;">20 million</font><font style="font-family:inherit;font-size:10pt;"> shares. The Reverse Split and reduction in authorized shares was approved by the Company's Board of Directors (the "Board") on February 25, 2019, and it was approved by the stockholders of the Company at the annual meeting on May 6, 2019. The Board approved the ratio of 1-for-10 on May 24, 2019, and the Reverse Split became effective as of the close of business on June 10, 2019. The Reverse Split had no effect on the par value of the Company's common stock but it reduced the number of issued and outstanding shares of common stock by a factor of 10. Accordingly, the issued and outstanding shares, stock-based compensation disclosures, net loss per share, and other share and per share disclosures for all periods presented have been retrospectively adjusted to reflect the impact of this Reverse Split.</font></div></div> |