2017 Q3 Form 10-Q Financial Statement
#000077126617000059 Filed on August 10, 2017
Income Statement
| Concept | 2017 Q3 | 2016 Q2 | 2015 Q4 |
|---|---|---|---|
| Revenue | $6.139M | $4.355M | $4.612M |
| YoY Change | 5.94% | -59.89% | -56.64% |
| Cost Of Revenue | $4.145M | $4.647M | $4.520M |
| YoY Change | -9.37% | -26.93% | -24.79% |
| Gross Profit | $1.444M | -$550.0K | -$118.0K |
| YoY Change | 52.16% | -117.47% | -104.37% |
| Gross Profit Margin | 23.52% | -12.63% | -2.56% |
| Selling, General & Admin | $5.345M | $4.282M | $4.080M |
| YoY Change | 34.28% | -16.17% | -17.91% |
| % of Gross Profit | 370.15% | ||
| Research & Development | $5.254M | $4.119M | $3.880M |
| YoY Change | 27.42% | -15.66% | -31.69% |
| % of Gross Profit | 363.84% | ||
| Depreciation & Amortization | $700.0K | $310.0K | $280.0K |
| YoY Change | 133.33% | -39.22% | -31.71% |
| % of Gross Profit | 48.48% | ||
| Operating Expenses | $10.60M | $8.402M | $7.960M |
| YoY Change | 30.79% | -15.92% | -25.26% |
| Operating Profit | -$8.605M | -$992.7K | -$8.078M |
| YoY Change | 25.02% | -81.94% | 1.62% |
| Interest Expense | $740.0K | $220.0K | $1.110M |
| YoY Change | -179.57% | -96.45% | 38.75% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $306.4K | $101.0K | -$300.0K |
| YoY Change | -125.74% | -98.37% | 42.86% |
| Pretax Income | -$8.298M | -$891.7K | -$7.060M |
| YoY Change | 2.79% | -224.06% | 29.78% |
| Income Tax | $4.500K | $1.963M | $10.00K |
| % Of Pretax Income | |||
| Net Earnings | -$8.247M | -$3.194M | -$6.771M |
| YoY Change | 1.6% | -567.64% | 27.71% |
| Net Earnings / Revenue | -134.34% | -73.34% | -146.81% |
| Basic Earnings Per Share | -$0.05 | -$0.11 | |
| Diluted Earnings Per Share | -$103.8K | -$0.05 | -$0.11 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 75.16M shares | 64.01M shares | 63.61M shares |
| Diluted Shares Outstanding | 64.01M shares | 63.61M shares |
Balance Sheet
| Concept | 2017 Q3 | 2016 Q2 | 2015 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $77.34M | $91.44M | $85.79M |
| YoY Change | -7.97% | 3.53% | -5.58% |
| Cash & Equivalents | $25.88M | $25.73M | $24.85M |
| Short-Term Investments | $51.45M | $65.71M | $60.94M |
| Other Short-Term Assets | $1.500M | $1.000M | $1.400M |
| YoY Change | 36.36% | 11.11% | 16.67% |
| Inventory | $5.949M | $2.936M | $2.512M |
| Prepaid Expenses | |||
| Receivables | $2.024M | $1.326M | $1.488M |
| Other Receivables | $0.00 | $0.00 | $15.00M |
| Total Short-Term Assets | $86.69M | $96.88M | $101.2M |
| YoY Change | -3.75% | -16.24% | 1.23% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $3.661M | $2.729M | $2.677M |
| YoY Change | 24.66% | -33.56% | -41.67% |
| Goodwill | $2.377M | $887.5K | $946.1K |
| YoY Change | 173.17% | -9.82% | -3.11% |
| Intangibles | $0.00 | ||
| YoY Change | -100.0% | ||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $968.1K | $716.7K | $461.4K |
| YoY Change | 56.51% | -75.65% | -75.73% |
| Total Long-Term Assets | $8.362M | $4.333M | -$98.43M |
| YoY Change | 88.97% | -48.06% | -527.63% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $86.69M | $96.88M | $101.2M |
| Total Long-Term Assets | $8.362M | $4.333M | -$98.43M |
| Total Assets | $95.05M | $101.2M | $2.729M |
| YoY Change | 0.59% | -18.38% | -97.78% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $3.966M | $4.327M | $3.960M |
| YoY Change | 1.98% | -9.45% | -28.05% |
| Accrued Expenses | $6.400M | $5.000M | $4.700M |
| YoY Change | 16.36% | -12.28% | -20.34% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $16.16M | $13.84M | $11.28M |
| YoY Change | 22.43% | -9.16% | -14.85% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $300.0K | $300.0K | $300.0K |
| YoY Change | 0.0% | 0.0% | 0.0% |
| Total Long-Term Liabilities | $300.0K | $300.0K | $300.0K |
| YoY Change | 0.0% | 0.0% | 0.0% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $16.16M | $13.84M | $11.28M |
| Total Long-Term Liabilities | $300.0K | $300.0K | $300.0K |
| Total Liabilities | $15.40M | $14.30M | $11.30M |
| YoY Change | 12.41% | -4.67% | -13.74% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$238.3M | -$200.7M | -$190.6M |
| YoY Change | 14.11% | 12.12% | 8.35% |
| Common Stock | $331.8M | $328.5M | $327.3M |
| YoY Change | 0.81% | 0.41% | 0.6% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $17.24M | $42.74M | $42.74M |
| YoY Change | -59.67% | 0.0% | 0.0% |
| Treasury Stock Shares | 4.513M shares | 12.10M shares | 12.10M shares |
| Shareholders Equity | $78.56M | $86.89M | $94.74M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $95.05M | $101.2M | $106.1M |
| YoY Change | 0.59% | -18.38% | -13.73% |
Cashflow Statement
| Concept | 2017 Q3 | 2016 Q2 | 2015 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$8.247M | -$3.194M | -$6.771M |
| YoY Change | 1.6% | -567.64% | 27.71% |
| Depreciation, Depletion And Amortization | $700.0K | $310.0K | $280.0K |
| YoY Change | 133.33% | -39.22% | -31.71% |
| Cash From Operating Activities | -$6.060M | -$6.710M | -$6.780M |
| YoY Change | -21.91% | 98.52% | 205.41% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$770.0K | -$90.00K | -$130.0K |
| YoY Change | 3750.0% | -73.53% | -360.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$5.530M | $4.890M | $12.43M |
| YoY Change | -305.58% | -38.57% | 1701.45% |
| Cash From Investing Activities | -$6.300M | $4.810M | $12.30M |
| YoY Change | -336.84% | -36.79% | 1540.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 24.66M | 0.000 | -620.0K |
| YoY Change | -246700.0% | -100.0% | -32.61% |
| NET CHANGE | |||
| Cash From Operating Activities | -6.060M | -6.710M | -6.780M |
| Cash From Investing Activities | -6.300M | 4.810M | 12.30M |
| Cash From Financing Activities | 24.66M | 0.000 | -620.0K |
| Net Change In Cash | 12.30M | -1.900M | 4.900M |
| YoY Change | -340.7% | -146.0% | -305.02% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$6.060M | -$6.710M | -$6.780M |
| Capital Expenditures | -$770.0K | -$90.00K | -$130.0K |
| Free Cash Flow | -$5.290M | -$6.620M | -$6.650M |
| YoY Change | -31.65% | 117.76% | 192.95% |
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Common Stock Shares Issued
CommonStockSharesIssued
|
79749818 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
64538686 | shares |
| CY2017Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
72187688 | shares |
| CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
766409 | USD |
| CY2017Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
767009 | USD |
| CY2016Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-2892720 | USD |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-8669645 | USD | |
| CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-7780534 | USD |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-14135475 | USD | |
| CY2016Q2 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
337788 | USD |
| us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
468489 | USD | |
| CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
41680 | USD |
| us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-16354 | USD | |
| CY2016Q2 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-3230508 | USD |
| us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-9138134 | USD | |
| CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-7822214 | USD |
| us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-14119121 | USD | |
| CY2016Q2 | us-gaap |
Contracts Revenue
ContractsRevenue
|
258746 | USD |
| us-gaap |
Contracts Revenue
ContractsRevenue
|
399750 | USD | |
| CY2017Q3 | us-gaap |
Contracts Revenue
ContractsRevenue
|
948069 | USD |
| us-gaap |
Contracts Revenue
ContractsRevenue
|
1393054 | USD | |
| CY2016Q2 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
4646846 | USD |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
9282887 | USD | |
| CY2017Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
4117226 | USD |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
7234583 | USD | |
| CY2016Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
5347989 | USD |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
17784830 | USD | |
| CY2017Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
13995708 | USD |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
27036620 | USD | |
| CY2017Q3 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
62000 | USD |
| us-gaap |
Foreign Earnings Repatriated
ForeignEarningsRepatriated
|
1400000 | USD | |
| CY2016Q2 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
0 | USD |
| CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
844023 | USD |
| CY2017Q3 | us-gaap |
Goodwill
Goodwill
|
2359979 | USD |
| us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
27306 | USD | |
| us-gaap |
Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
|
1488650 | USD | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1169940 | USD | |
| CY2017Q3 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
1000000 | USD |
| CY2016Q4 | us-gaap |
Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
|
2571000 | USD |
| CY2017Q3 | us-gaap |
Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
|
2623679 | USD |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
651687 | USD | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1142506 | USD | |
| CY2016Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.05 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.16 | ||
| CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.10 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.22 | ||
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
203402 | USD | |
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-272625 | USD | |
| us-gaap |
Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
|
0.165 | ||
| CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1443976 | USD |
| CY2017Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1968389 | USD |
| CY2016Q2 | us-gaap |
Extraordinary Items Gross
ExtraordinaryItemsGross
|
70000 | USD |
| us-gaap |
Extraordinary Items Gross
ExtraordinaryItemsGross
|
86000 | USD | |
| CY2016Q4 | us-gaap |
Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
|
77529350 | USD |
| CY2017Q3 | us-gaap |
Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
|
85553789 | USD |
| us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-563548 | USD | |
| us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-656613 | USD | |
| CY2016Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
44503 | USD |
| us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
-457437 | USD | |
| CY2017Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
556539 | USD |
| us-gaap |
Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
|
-634743 | USD | |
| CY2016Q2 | us-gaap |
Foreign Earnings Repatriated
ForeignEarningsRepatriated
|
1300000 | USD |
| us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
0 | USD | |
| CY2017Q3 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
0 | USD |
| us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
274000 | USD | |
| us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
7700522 | USD | |
| us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
0 | USD | |
| CY2016Q2 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
7700522 | USD |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
7700522 | USD | |
| CY2017Q3 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | USD |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | USD | |
| CY2016Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-891728 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-7585515 | USD | |
| CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-7260540 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-16346417 | USD | |
| CY2016Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1963000 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2104000 | USD | |
| CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1146000 | USD | |
| CY2017Q3 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Amortization
IncomeTaxReconciliationNondeductibleExpenseAmortization
|
600000 | USD |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
1682820 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
358388 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-145076 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-241213 | USD | |
| us-gaap |
Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
|
-8106819 | USD | |
| us-gaap |
Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
|
0 | USD | |
| us-gaap |
Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
|
-152872 | USD | |
| us-gaap |
Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
|
45466 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
696705 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
778240 | USD | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-295257 | USD | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
275988 | USD | |
| CY2016Q4 | us-gaap |
Intangible Assets Current
IntangibleAssetsCurrent
|
0 | USD |
| CY2017Q3 | us-gaap |
Intangible Assets Current
IntangibleAssetsCurrent
|
1829455 | USD |
| CY2016Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
129459 | USD |
| CY2017Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
323108 | USD |
| CY2016Q4 | us-gaap |
Inventory Net
InventoryNet
|
3302112 | USD |
| CY2017Q3 | us-gaap |
Inventory Net
InventoryNet
|
4412962 | USD |
| CY2016Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1986491 | USD |
| CY2017Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2397048 | USD |
| CY2016Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
1186162 | USD |
| CY2017Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
1692806 | USD |
| CY2016Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
175765 | USD |
| us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
340713 | USD | |
| CY2017Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
186142 | USD |
| us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
419919 | USD | |
| CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
87832272 | USD |
| CY2017Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
101633856 | USD |
| CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
13365707 | USD |
| CY2017Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
14987242 | USD |
| CY2016Q2 | us-gaap |
Loans Receivable Net
LoansReceivableNet
|
6200000 | USD |
| CY2017Q3 | us-gaap |
Loans Receivable Net
LoansReceivableNet
|
6400000 | USD |
| CY2016Q4 | us-gaap |
Minority Interest
MinorityInterest
|
141957 | USD |
| CY2017Q3 | us-gaap |
Minority Interest
MinorityInterest
|
125603 | USD |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1500 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
24664250 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
18038239 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
3004772 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-12281600 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-12677599 | USD | |
| CY2016Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3194102 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-10127562 | USD | |
| CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7331971 | USD |
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
0 | USD | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-15190410 | USD | |
| CY2016Q2 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
339374 | USD |
| us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
438047 | USD | |
| CY2017Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
71431 | USD |
| us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-10007 | USD | |
| us-gaap |
Noncash Or Part Noncash Acquisition Interest Acquired1
NoncashOrPartNoncashAcquisitionInterestAcquired1
|
0.15 | ||
| CY2017Q3 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
3709000 | USD |
| CY2016Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
100986 | USD |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-275098 | USD | |
| CY2017Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
807699 | USD |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
384606 | USD | |
| CY2016Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-992714 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7310417 | USD | |
| CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8068239 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-16731023 | USD | |
| CY2017Q3 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
141000000 | USD |
| CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2560144 | USD |
| CY2017Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
3601399 | USD |
| CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
618139 | USD |
| CY2017Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
938791 | USD |
| CY2016Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
-92228 | USD |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
643956 | USD | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
-666343 | USD |
| us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
931062 | USD | |
| CY2016Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-37992 | USD |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1019870 | USD | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-519994 | USD |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1064942 | USD | |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
6347 | USD | |
| CY2016Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
38360 | USD |
| us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
34192 | USD | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
2745 | USD |
| us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
|
3900 | USD | |
| CY2016Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
92596 | USD |
| us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
410106 | USD | |
| CY2017Q3 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
149094 | USD |
| us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
|
137780 | USD | |
| CY2016Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-119282 | USD |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-158374 | USD | |
| CY2017Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
65018 | USD |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
325430 | USD | |
| us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
187646 | USD | |
| us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
37296 | USD | |
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1500 | USD | |
| us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
35064288 | USD | |
| us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
16812114 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
305059 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1071742 | USD | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | USD | |
| CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2017Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
3000 | shares |
| CY2017Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
3000 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2017Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2017Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
853757 | USD |
| CY2017Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1393741 | USD |
| CY2016Q4 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
341144 | USD |
| CY2017Q3 | us-gaap |
Prepaid Taxes
PrepaidTaxes
|
138365 | USD |
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
15000000 | USD | |
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
15000000 | USD | |
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
0 | USD | |
| us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
30488413 | USD | |
| us-gaap |
Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
|
24615971 | USD | |
| us-gaap |
Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
|
0 | USD | |
| us-gaap |
Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
|
24664250 | USD | |
| CY2016Q4 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
518000 | USD |
| CY2017Q3 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
854220 | USD |
| us-gaap |
Product Warranty Expense
ProductWarrantyExpense
|
0 | USD | |
| us-gaap |
Product Warranty Expense
ProductWarrantyExpense
|
117625 | USD | |
| CY2016Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-2854728 | USD |
| us-gaap |
Profit Loss
ProfitLoss
|
-9689515 | USD | |
| CY2017Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-7260540 | USD |
| us-gaap |
Profit Loss
ProfitLoss
|
-15200417 | USD | |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2976006 | USD |
| CY2017Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3708747 | USD |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-17644 | USD | |
| CY2017Q3 | us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
173925 | USD |
| us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
182925 | USD | |
| CY2016Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4119401 | USD |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8159352 | USD | |
| CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4678221 | USD |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8960090 | USD | |
| CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-214042787 | USD |
| CY2017Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-230071829 | USD |
| CY2016Q2 | us-gaap |
Revenues
Revenues
|
4355275 | USD |
| us-gaap |
Revenues
Revenues
|
10474413 | USD | |
| CY2017Q3 | us-gaap |
Revenues
Revenues
|
5927469 | USD |
| us-gaap |
Revenues
Revenues
|
10305597 | USD | |
| CY2016Q2 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
4096529 | USD |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
10074663 | USD | |
| CY2017Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
4979400 | USD |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
8912543 | USD | |
| CY2016Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4282264 | USD |
| us-gaap |
Unusual Or Infrequent Item Gain Gross
UnusualOrInfrequentItemGainGross
|
1589000 | USD | |
| CY2017Q3 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
729582 | USD |
| CY2016Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
12102258 | shares |
| CY2017Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
4513256 | shares |
| CY2016Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
42741551 | USD |
| CY2017Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
17238669 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
8043113 | USD | |
| CY2017Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
5200261 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
10841947 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
951053 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1968128 | USD | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Share Based Liabilities Paid
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsShareBasedLiabilitiesPaid
|
1400000 | USD | |
| CY2016Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
518000 | USD |
| CY2017Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
854000 | USD |
| us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
114000 | USD | |
| us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
231000 | USD | |
| us-gaap |
Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
|
24664250 | USD | |
| CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
74077686 | USD |
| CY2017Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
86260343 | USD |
| CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
74219643 | USD |
| CY2017Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
86385946 | USD |
| CY2016Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
935364 | USD |
| CY2017Q3 | us-gaap |
Unusual Or Infrequent Item Loss Gross
UnusualOrInfrequentItemLossGross
|
123000 | USD |
| us-gaap |
Unusual Or Infrequent Item Loss Gross
UnusualOrInfrequentItemLossGross
|
200000 | USD | |
| CY2016Q2 | us-gaap |
Unusual Or Infrequent Item Net Gain Loss
UnusualOrInfrequentItemNetGainLoss
|
36000 | USD |
| us-gaap |
Unusual Or Infrequent Item Net Gain Loss
UnusualOrInfrequentItemNetGainLoss
|
47000 | USD | |
| CY2016Q2 | us-gaap |
Unusual Or Infrequent Item Net Of Insurance Proceeds
UnusualOrInfrequentItemNetOfInsuranceProceeds
|
53000 | USD |
| us-gaap |
Unusual Or Infrequent Item Net Of Insurance Proceeds
UnusualOrInfrequentItemNetOfInsuranceProceeds
|
114000 | USD | |
| CY2016Q2 | us-gaap |
Unusual Or Infrequent Tax Effect
UnusualOrInfrequentTaxEffect
|
17000 | USD |
| us-gaap |
Unusual Or Infrequent Tax Effect
UnusualOrInfrequentTaxEffect
|
67000 | USD | |
| CY2017Q3 | us-gaap |
Valuation Allowances And Reserves Adjustments
ValuationAllowancesAndReservesAdjustments
|
1000000 | USD |
| CY2016Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
64011571 | shares |
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
63994809 | shares | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
70626542 | shares |
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
67582615 | shares | |
| us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements of Kopin Corporation (the Company) as of </font><font style="font-family:inherit;font-size:10pt;">July 1, 2017</font><font style="font-family:inherit;font-size:10pt;"> and for the </font><font style="font-family:inherit;font-size:10pt;">three and six</font><font style="font-family:inherit;font-size:10pt;"> month periods ended </font><font style="font-family:inherit;font-size:10pt;">July 1, 2017</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">June 25, 2016</font><font style="font-family:inherit;font-size:10pt;"> are unaudited and include all adjustments which, in the opinion of management, are necessary to present fairly the results of operations for the periods then ended. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2016</font><font style="font-family:inherit;font-size:10pt;">. The results of the Company's operations for any interim period are not necessarily indicative of the results of the Company's operations for any other interim period or for a full fiscal year.</font></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recently Issued Accounting Pronouncements</font></div><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In </font><font style="font-family:inherit;font-size:10pt;">May 2014</font><font style="font-family:inherit;font-size:10pt;">, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">2014-09, Revenue from Contracts with Customers (Topic 606)</font><font style="font-family:inherit;font-size:10pt;">. This new standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. In addition, ASU 2014-09 provides guidance on accounting for certain revenue-related costs including, but not limited to, when to capitalize costs associated with obtaining and fulfilling a contract. The underlying principle is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The new standard also requires entities to enhance disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. </font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">To date, the Company has begun an initial assessment of the Company's revenue streams and has hired an external consulting firm to assist the Company with assessing the impact of applying the five-step model to new and existing contracts to evaluate the quantitative and qualitative impacts the new standard will have on the Company's business and reported revenues. We expect to complete our assessment of the effects of adopting ASU 2014-09 during 2017, and we will continue our evaluation of ASU 2014-09, including how it may impact new arrangements we enter into as well as new or emerging interpretations of the standard, through the date of adoption. The Company is required to apply the guidance in ASU 2014-09 as of </font><font style="font-family:inherit;font-size:10pt;">January 1, 2018</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:174%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In </font><font style="font-family:inherit;font-size:10pt;">February 2016</font><font style="font-family:inherit;font-size:10pt;">, the FASB issued Accounting Standards Update No. 2016-02 (Topic 842) </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font><font style="font-family:inherit;font-size:10pt;">. Topic 842 supersedes the lease recognition requirements in Accounting Standards Codification Topic 840, "Leases". Under Topic 842, lessees are required to recognize assets and liabilities on the balance sheet for most leases and provide enhanced disclosures. Leases will continue to be classified as either finance or operating. Topic 842 is effective for annual reporting periods, and interim periods within those years beginning after </font><font style="font-family:inherit;font-size:10pt;">December 15, 2018</font><font style="font-family:inherit;font-size:10pt;">. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements, and there are certain optional practical expedients that an entity may elect to apply. Full retrospective application is prohibited and early adoption by public entities is permitted. We expect to complete our assessment in 2018 and is required to adopt ASU 2016-02 as of January 1, 2019 using the modified retrospective method. We expect the potential impact of adopting ASU 2016-02 to be material to our lease liabilities and assets on our consolidated balance sheets.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In </font><font style="font-family:inherit;font-size:10pt;">January 2017</font><font style="font-family:inherit;font-size:10pt;">, the FASB issued ASU </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">2017-01</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations (Topic 805).</font><font style="font-family:inherit;font-size:10pt;"> The new guidance clarifies the definition of a business that an entity uses to determine whether a transaction should be accounted for as an asset acquisition (or disposal) or a business combination. The guidance is expected to cause fewer acquired sets of assets (and liabilities) to be identified as businesses. The guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after </font><font style="font-family:inherit;font-size:10pt;">December 15, 2017</font><font style="font-family:inherit;font-size:10pt;">. Early adoption is permitted for transactions that meet certain requirements. The Company is evaluating the impact this standard will have on its financial statements.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Intangibles- Goodwill and Other</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In </font><font style="font-family:inherit;font-size:10pt;">January 2017</font><font style="font-family:inherit;font-size:10pt;">, the FASB issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU 2017-04, Intangibles- Goodwill and Other (Topic 350). </font><font style="font-family:inherit;font-size:10pt;">The new guidance simplifies the accounting for goodwill impairments by eliminating Step 2 from the goodwill impairment test. The guidance requires, among other things, recognition of an impairment loss when the carrying amount of a reporting unit exceeds its fair value. The loss recognized is limited to the total amount of goodwill allocated to that reporting unit. The guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after </font><font style="font-family:inherit;font-size:10pt;">December 15, 2019</font><font style="font-family:inherit;font-size:10pt;">. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after </font><font style="font-family:inherit;font-size:10pt;">January 1, 2017</font><font style="font-family:inherit;font-size:10pt;">. The Company is evaluating the impact this standard will have on its financial statements.</font></div></div> |
