2015 Q2 Form 10-Q Financial Statement

#000162828015004045 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $51.67M $53.49M $48.28M
YoY Change 38.63% 10.79% -43.8%
Cost Of Revenue $36.34M $40.86M $38.22M
YoY Change 9.2% 6.92% -44.67%
Gross Profit $15.32M $12.63M $10.07M
YoY Change 284.32% 25.49% -40.24%
Gross Profit Margin 29.66% 23.62% 20.85%
Selling, General & Admin $13.22M $9.588M $9.071M
YoY Change 77.34% 5.7% -24.92%
% of Gross Profit 86.27% 75.89% 90.1%
Research & Development $9.690M $10.76M $8.618M
YoY Change 13.47% 24.83% -37.6%
% of Gross Profit 63.24% 85.15% 85.6%
Depreciation & Amortization $1.140M $1.250M $2.130M
YoY Change -40.31% -41.31% -7.79%
% of Gross Profit 7.44% 9.89% 21.16%
Operating Expenses $23.57M $20.35M $19.00M
YoY Change 10.19% 7.13% -27.03%
Operating Profit -$8.242M -$7.715M -$8.927M
YoY Change -52.63% -13.58% -2.81%
Interest Expense -$838.0K -$74.00K $15.00K
YoY Change -4290.0% -593.33% -73.68%
% of Operating Profit
Other Income/Expense, Net -$66.00K -$17.00K -$44.00K
YoY Change 407.69% -61.36% -42.86%
Pretax Income -$9.146M -$7.806M -$8.956M
YoY Change -47.41% -12.84% -2.71%
Income Tax $74.00K $20.00K $25.00K
% Of Pretax Income
Net Earnings -$9.220M -$7.826M -$8.981M
YoY Change -47.06% -12.86% -1.55%
Net Earnings / Revenue -17.85% -14.63% -18.6%
Basic Earnings Per Share -$0.26
Diluted Earnings Per Share -$172.3K -$168.5K -$0.26
COMMON SHARES
Basic Shares Outstanding 50.13M shares 45.94M shares 34.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.90M $9.400M $26.90M
YoY Change -20.09% -65.06% -39.0%
Cash & Equivalents $17.91M $9.370M $11.83M
Short-Term Investments $15.00M
Other Short-Term Assets $96.50M $7.500M $3.200M
YoY Change 2915.63% 134.38% -67.01%
Inventory $39.61M $46.32M $25.13M
Prepaid Expenses
Receivables $33.42M $33.70M $30.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $187.4M $96.91M $85.21M
YoY Change 142.48% 13.72% -33.17%
LONG-TERM ASSETS
Property, Plant & Equipment $4.340M $5.061M $8.246M
YoY Change -39.71% -38.62% -41.93%
Goodwill $1.704M $1.776M
YoY Change
Intangibles $21.07M $21.82M $1.879M
YoY Change 1195.69% 1061.1%
Long-Term Investments $700.0K
YoY Change -92.93%
Other Assets $201.0K $434.0K $731.0K
YoY Change -70.31% -40.63% -39.08%
Total Long-Term Assets $27.31M $29.09M $11.66M
YoY Change 185.02% 149.53% -58.66%
TOTAL ASSETS
Total Short-Term Assets $187.4M $96.91M $85.21M
Total Long-Term Assets $27.31M $29.09M $11.66M
Total Assets $214.7M $126.0M $96.87M
YoY Change 147.17% 30.06% -37.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.99M $38.55M $23.19M
YoY Change 0.37% 66.24% -46.33%
Accrued Expenses $30.42M $32.00M $21.14M
YoY Change 31.76% 51.35% -10.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $300.0K
YoY Change -100.0% -93.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $57.41M $70.54M $48.95M
YoY Change 5.72% 44.1% -35.84%
LONG-TERM LIABILITIES
Long-Term Debt $78.20M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.86M $16.11M $1.723M
YoY Change 788.85% 834.71% -31.08%
Total Long-Term Liabilities $15.86M $16.11M $1.723M
YoY Change 788.85% 834.71% -31.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.41M $70.54M $48.95M
Total Long-Term Liabilities $15.86M $16.11M $1.723M
Total Liabilities $151.5M $93.80M $60.68M
YoY Change 129.25% 54.6% -22.9%
SHAREHOLDERS EQUITY
Retained Earnings -$428.2M -$419.0M -$380.5M
YoY Change 7.62% 10.12%
Common Stock $50.00K $50.00K $34.00K
YoY Change 47.06% 47.06%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $0.00 $25.00M
YoY Change -100.0% -100.0%
Treasury Stock Shares 0.000 shares 0.000 shares 2.436M shares
Shareholders Equity $63.19M $32.19M $36.20M
YoY Change
Total Liabilities & Shareholders Equity $214.7M $126.0M $96.87M
YoY Change 147.17% 30.06% -37.78%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$9.220M -$7.826M -$8.981M
YoY Change -47.06% -12.86% -1.55%
Depreciation, Depletion And Amortization $1.140M $1.250M $2.130M
YoY Change -40.31% -41.31% -7.79%
Cash From Operating Activities -$12.05M -$7.133M $5.395M
YoY Change 176.38% -232.22% 186.51%
INVESTING ACTIVITIES
Capital Expenditures -$500.0K $111.0K $513.0K
YoY Change -31.51% -78.36% -82.01%
Acquisitions $9.063M $0.00
YoY Change
Other Investing Activities -$88.28M -$9.060M $6.560M
YoY Change -3548.44% -238.11% -1193.33%
Cash From Investing Activities -$88.77M -$9.398M $6.051M
YoY Change -4950.82% -255.31% -275.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 109.6M $8.077M -$2.485M
YoY Change -30530.56% -425.03% -164.43%
NET CHANGE
Cash From Operating Activities -12.05M -$7.133M $5.395M
Cash From Investing Activities -88.77M -$9.398M $6.051M
Cash From Financing Activities 109.6M $8.077M -$2.485M
Net Change In Cash 8.730M -$8.454M $8.961M
YoY Change -402.08% -194.34% 290.8%
FREE CASH FLOW
Cash From Operating Activities -$12.05M -$7.133M $5.395M
Capital Expenditures -$500.0K $111.0K $513.0K
Free Cash Flow -$11.55M -$7.244M $4.882M
YoY Change 218.18% -248.38% -603.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 dei Amendment Flag
AmendmentFlag
false
CY2015Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q1 dei Document Period End Date
DocumentPeriodEndDate
2015-03-31
CY2015Q1 dei Document Type
DocumentType
10-Q
CY2015Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001022652
CY2015Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
50126853 shares
CY2015Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2015Q1 dei Entity Registrant Name
EntityRegistrantName
NOVATEL WIRELESS INC
CY2015Q1 dei Trading Symbol
TradingSymbol
MIFI
CY2014Q4 nvtl Acquired Intangible Assets Accumulated Amortization
AcquiredIntangibleAssetsAccumulatedAmortization
14050000 USD
CY2015Q1 nvtl Acquired Intangible Assets Accumulated Amortization
AcquiredIntangibleAssetsAccumulatedAmortization
14322000 USD
CY2015Q1 nvtl Acquired Intangible Assets Net Excluding Goodwill
AcquiredIntangibleAssetsNetExcludingGoodwill
21327000 USD
CY2015Q1 nvtl Deferred Compensation Arrangementwith Individual Minimum Period Financial Metrics Must Be Met
DeferredCompensationArrangementwithIndividualMinimumPeriodFinancialMetricsMustBeMet
P6M
CY2014Q4 nvtl Intangible Assets Impaired Accumulated Impairment Loss
IntangibleAssetsImpairedAccumulatedImpairmentLoss
29749000 USD
CY2015Q1 nvtl Intangible Assets Impaired Accumulated Impairment Loss
IntangibleAssetsImpairedAccumulatedImpairmentLoss
29749000 USD
CY2014Q4 nvtl Market Development Fund And Price Protection
MarketDevelopmentFundAndPriceProtection
2502000 USD
CY2015Q1 nvtl Market Development Fund And Price Protection
MarketDevelopmentFundAndPriceProtection
2782000 USD
CY2014Q1 nvtl Net Income Loss Attributableto Parent Before Beneficial Conversion
NetIncomeLossAttributabletoParentBeforeBeneficialConversion
-8981000 USD
CY2015Q1 nvtl Net Income Loss Attributableto Parent Before Beneficial Conversion
NetIncomeLossAttributabletoParentBeforeBeneficialConversion
-7826000 USD
CY2014Q1 nvtl Non Cash Income Tax Expense Benefit
NonCashIncomeTaxExpenseBenefit
6000 USD
CY2015Q1 nvtl Non Cash Income Tax Expense Benefit
NonCashIncomeTaxExpenseBenefit
0 USD
CY2014Q1 nvtl Proceeds From Stock Option Exercises And Espp Net Of Taxes Paid On Vested Restricted Stock Units
ProceedsFromStockOptionExercisesAndEsppNetOfTaxesPaidOnVestedRestrictedStockUnits
-217000 USD
CY2015Q1 nvtl Proceeds From Stock Option Exercises And Espp Net Of Taxes Paid On Vested Restricted Stock Units
ProceedsFromStockOptionExercisesAndEsppNetOfTaxesPaidOnVestedRestrictedStockUnits
66000 USD
CY2014Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
34540000 USD
CY2015Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
38545000 USD
CY2014Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
24213000 USD
CY2015Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
33696000 USD
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23844000 USD
CY2015Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
31996000 USD
CY2014Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
780000 USD
CY2015Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1217000 USD
CY2014Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
4035000 USD
CY2015Q1 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
6518000 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
68449000 USD
CY2015Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
70051000 USD
CY2014Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
466665000 USD
CY2015Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
451130000 USD
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
477000 USD
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
790000 USD
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
217000 USD
CY2015Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
230000 USD
CY2014Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
140000 USD
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
167000 USD
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5120187 shares
CY2015Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5483254 shares
CY2014Q4 us-gaap Assets
Assets
95020000 USD
CY2015Q1 us-gaap Assets
Assets
125993000 USD
CY2014Q4 us-gaap Assets Current
AssetsCurrent
87781000 USD
CY2015Q1 us-gaap Assets Current
AssetsCurrent
96905000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2911000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
11827000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17853000 USD
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9370000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
8916000 USD
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8483000 USD
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
45742000 shares
CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49937000 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45742000 shares
CY2015Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49937000 shares
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
46000 USD
CY2015Q1 us-gaap Common Stock Value
CommonStockValue
50000 USD
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-8980000 USD
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7826000 USD
CY2014Q1 us-gaap Cost Of Revenue
CostOfRevenue
38216000 USD
CY2015Q1 us-gaap Cost Of Revenue
CostOfRevenue
40860000 USD
CY2015Q1 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
5500000 USD
CY2015Q1 us-gaap Deferred Compensation Arrangement With Individual Recorded Liability
DeferredCompensationArrangementWithIndividualRecordedLiability
11000000 USD
CY2014Q4 us-gaap Deferred Revenue
DeferredRevenue
962000 USD
CY2015Q1 us-gaap Deferred Revenue
DeferredRevenue
929000 USD
CY2015Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
94300000 USD
CY2015Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
94300000 USD
CY2014Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2125000 USD
CY2015Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1247000 USD
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.26
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2014Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-45000 USD
CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-29000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8038000 USD
CY2015Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15057000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11647000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11814000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
8446000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1979000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2075000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2075000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2075000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2637000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
42520000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
60850000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1124000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
19287000 USD
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5076000 USD
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5364000 USD
CY2014Q4 us-gaap Goodwill
Goodwill
0 USD
CY2015Q1 us-gaap Goodwill
Goodwill
1776000 USD
CY2014Q1 us-gaap Gross Profit
GrossProfit
10068000 USD
CY2015Q1 us-gaap Gross Profit
GrossProfit
12634000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-8956000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-7806000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25000 USD
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20000 USD
CY2014Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
64000 USD
CY2015Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1175000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3601000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9928000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6111000 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2085000 USD
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5602000 USD
CY2014Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2484000 USD
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1449000 USD
CY2014Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2418000 USD
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1152000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1493000 USD
CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
21817000 USD
CY2014Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
15000 USD
CY2015Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-74000 USD
CY2014Q1 us-gaap Interest Paid Net
InterestPaidNet
6000 USD
CY2015Q1 us-gaap Interest Paid Net
InterestPaidNet
36000 USD
CY2014Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
33045000 USD
CY2015Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
32763000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
37803000 USD
CY2015Q1 us-gaap Inventory Net
InventoryNet
46320000 USD
CY2014Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
4758000 USD
CY2015Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
13557000 USD
CY2014Q1 us-gaap Inventory Write Down
InventoryWriteDown
180000 USD
CY2015Q1 us-gaap Inventory Write Down
InventoryWriteDown
206000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
64474000 USD
CY2015Q1 us-gaap Liabilities
Liabilities
93804000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
95020000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
125993000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
58384000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
70541000 USD
CY2014Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
5158000 USD
CY2015Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
7158000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2485000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8077000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
6051000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9398000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5395000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7133000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-8981000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-7826000 USD
CY2015Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segments
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
18995000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
20349000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-8927000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7715000 USD
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4445000 USD
CY2015Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4559000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
467000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
434000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
932000 USD
CY2015Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
1674000 USD
CY2014Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2015Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16105000 USD
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-44000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-17000 USD
CY2015Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
9063000 USD
CY2014Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
CY2015Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
224000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
513000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
111000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7912000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7519000 USD
CY2014Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2015Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2000000 USD
CY2014Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
6564000 USD
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD
CY2015Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
8644000 USD
CY2014Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2015Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
8644000 USD
CY2013Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2244000 USD
CY2014Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1367000 USD
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1196000 USD
CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
851000 USD
CY2014Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1282000 USD
CY2015Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
353000 USD
CY2014Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
405000 USD
CY2015Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
8000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5279000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5061000 USD
CY2014Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
30000 USD
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-41000 USD
CY2015Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2633000 USD
CY2014Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2268000 USD
CY2015Q1 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8618000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10758000 USD
CY2015Q1 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
-164000 USD
CY2014Q1 us-gaap Restructuring Charges
RestructuringCharges
1166000 USD
CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
-164000 USD
CY2014Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1886000 USD
CY2015Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
83000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
1983000 USD
CY2015Q1 us-gaap Restructuring Reserve
RestructuringReserve
145000 USD
CY2015Q1 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
62000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-411165000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-418991000 USD
CY2014Q1 us-gaap Revenues
Revenues
48284000 USD
CY2015Q1 us-gaap Revenues
Revenues
53494000 USD
CY2014Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3995000 USD
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4224000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
477000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
790000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
1506700 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
30546000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
32189000 USD
CY2014Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
55546000 USD
CY2015Q1 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
32189000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2436000 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2015Q1 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
2400000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
25000000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2015Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
3500000 USD
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34172000 shares
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46262000 shares
CY2015Q1 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivative Financial Instruments</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company evaluates stock options, stock warrants and other contracts to determine if those contracts or embedded components of those contracts qualify as derivative financial instruments to be separately accounted for under the relevant sections of the Financial Accounting Standards Board (the &#8220;FASB&#8221;) Accounting Standards Codification. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative financial instrument and is marked-to-market at each balance sheet date and recorded as an asset or liability. In the event that the fair value is recorded as an asset or liability, the change in fair value is recorded in the statement of operations as other income or other expense. Upon conversion, exercise or expiration of a derivative financial instrument, the instrument is marked to fair value and then that fair value is reclassified to equity.</font></div></div>
CY2015Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent liabilities. Actual results could differ materially from these estimates. Significant estimates include allowance for doubtful accounts receivable, provision for excess and obsolete inventory, valuation of intangible and long-lived assets, valuation of goodwill, royalty costs, fair value of warrants, accruals relating to litigation, restructuring, valuation of retention bonus payments, provision for warranty costs, income taxes and share-based compensation expense.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font></div></div>

Files In Submission

Name View Source Status
0001628280-15-004045-index-headers.html Edgar Link pending
0001628280-15-004045-index.html Edgar Link pending
0001628280-15-004045.txt Edgar Link pending
0001628280-15-004045-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
nvtl-20150331.xml Edgar Link completed
nvtl-20150331.xsd Edgar Link pending
nvtl-20150331_cal.xml Edgar Link unprocessable
nvtl-20150331_def.xml Edgar Link unprocessable
nvtl-20150331_lab.xml Edgar Link unprocessable
nvtl-20150331_pre.xml Edgar Link unprocessable
nvtl2015033110q.htm Edgar Link pending
nvtl2015033110qex311.htm Edgar Link pending
nvtl2015033110qex312.htm Edgar Link pending
nvtl2015033110qex321.htm Edgar Link pending
nvtl2015033110qex322.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending