$LGTY

2014 Q1 Form 10-Q Financial Statement

#000119312514095556 Filed on March 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q2 2013 Q1
Revenue $24.43M $25.21M $23.08M
YoY Change 5.85% -9.73% -9.14%
Cost Of Revenue $10.46M $11.03M $11.04M
YoY Change -5.25% -11.55% -7.15%
Gross Profit $13.96M $14.19M $12.03M
YoY Change 16.05% -8.29% -10.89%
Gross Profit Margin 57.16% 56.26% 52.14%
Selling, General & Admin $7.914M $8.260M $7.458M
YoY Change 6.11% -3.17% -5.57%
% of Gross Profit 56.68% 58.23% 61.98%
Research & Development $2.338M $2.260M $2.209M
YoY Change 5.84% -25.17% 6.2%
% of Gross Profit 16.74% 15.93% 18.36%
Depreciation & Amortization $435.0K $1.030M $1.033M
YoY Change -57.89% -1.9% -3.55%
% of Gross Profit 3.12% 7.26% 8.59%
Operating Expenses $10.42M $10.65M $9.741M
YoY Change 7.01% -2.29% -4.58%
Operating Profit $3.539M $3.536M $2.291M
YoY Change 54.47% -22.54% -30.43%
Interest Expense $230.0K $260.0K $290.0K
YoY Change -20.69% -10.34% -3.33%
% of Operating Profit 6.5% 7.35% 12.66%
Other Income/Expense, Net -$33.00K $440.0K $164.0K
YoY Change -120.12% 83.33% -9.89%
Pretax Income $3.737M $4.240M $2.748M
YoY Change 35.99% -16.7% -27.26%
Income Tax $1.260M $1.160M $608.0K
% Of Pretax Income 33.72% 27.36% 22.13%
Net Earnings $2.477M $3.078M $2.140M
YoY Change 15.75% -11.6% -17.44%
Net Earnings / Revenue 10.14% 12.21% 9.27%
Basic Earnings Per Share $0.09 $0.08
Diluted Earnings Per Share $0.09 $0.11 $0.08
COMMON SHARES
Basic Shares Outstanding 27.69M shares 27.19M shares
Diluted Shares Outstanding 28.19M shares 27.61M shares

Balance Sheet

Concept 2014 Q1 2013 Q2 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.80M $59.80M $52.10M
YoY Change 26.3% 0.67% -4.05%
Cash & Equivalents $52.92M $41.16M $33.29M
Short-Term Investments $12.90M $18.60M $18.80M
Other Short-Term Assets $3.500M $3.200M $3.200M
YoY Change 9.38% 0.0% 10.34%
Inventory
Prepaid Expenses
Receivables $14.08M $13.18M $14.33M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $87.42M $79.85M $74.22M
YoY Change 17.79% -3.09% -2.48%
LONG-TERM ASSETS
Property, Plant & Equipment $3.899M $4.482M $4.633M
YoY Change -15.84% -8.75% -9.16%
Goodwill $13.82M $12.60M $12.60M
YoY Change 9.67% 0.0%
Intangibles $675.0K $687.0K $831.0K
YoY Change -18.77% -45.61%
Long-Term Investments $268.0K $271.0K $271.0K
YoY Change -1.11% -1.45% -96.24%
Other Assets $124.0K $86.00K $118.0K
YoY Change 5.08% 0.0% 18.0%
Total Long-Term Assets $37.67M $33.22M $32.26M
YoY Change 16.75% -2.75% -5.39%
TOTAL ASSETS
Total Short-Term Assets $87.42M $79.85M $74.22M
Total Long-Term Assets $37.67M $33.22M $32.26M
Total Assets $125.1M $113.1M $106.5M
YoY Change 17.48% -2.99% -3.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $993.0K $1.207M $506.0K
YoY Change 96.25% 15.83% -63.86%
Accrued Expenses $3.000M $3.000M $2.700M
YoY Change 11.11% -42.31% -37.21%
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 $32.23M $28.76M $25.99M
YoY Change 24.01% -10.91% -11.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $366.0K
YoY Change
Total Long-Term Liabilities $366.0K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $32.23M $28.76M $25.99M
Total Long-Term Liabilities $366.0K $0.00 $0.00
Total Liabilities $35.03M $29.83M $27.06M
YoY Change 29.47% -11.03% -10.71%
SHAREHOLDERS EQUITY
Retained Earnings $7.621M $5.398M $2.319M
YoY Change 228.63% -32.73%
Common Stock $103.5M $98.95M $98.21M
YoY Change 5.37% 3.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.28M $24.28M $24.28M
YoY Change 0.0% 3.23%
Treasury Stock Shares 4.445M shares 4.445M shares 4.445M shares
Shareholders Equity $90.06M $83.24M $79.42M
YoY Change
Total Liabilities & Shareholders Equity $125.1M $113.1M $106.5M
YoY Change 17.48% -2.99% -3.38%

Cashflow Statement

Concept 2014 Q1 2013 Q2 2013 Q1
OPERATING ACTIVITIES
Net Income $2.477M $3.078M $2.140M
YoY Change 15.75% -11.6% -17.44%
Depreciation, Depletion And Amortization $435.0K $1.030M $1.033M
YoY Change -57.89% -1.9% -3.55%
Cash From Operating Activities $4.790M $8.210M $4.680M
YoY Change 2.35% 23.83% -38.58%
INVESTING ACTIVITIES
Capital Expenditures $50.00K -$960.0K $25.00K
YoY Change 100.0% 7.87% -28.57%
Acquisitions
YoY Change
Other Investing Activities -$50.00K $220.0K $280.0K
YoY Change -117.86% -75.56% -82.93%
Cash From Investing Activities -$860.0K -$740.0K -$590.0K
YoY Change 45.76% -7500.0% -164.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -240.0K 400.0K -10.35M
YoY Change -97.68% -158.82% -6568.75%
NET CHANGE
Cash From Operating Activities 4.790M 8.210M 4.680M
Cash From Investing Activities -860.0K -740.0K -590.0K
Cash From Financing Activities -240.0K 400.0K -10.35M
Net Change In Cash 3.690M 7.870M -6.260M
YoY Change -158.95% 32.05% -172.04%
FREE CASH FLOW
Cash From Operating Activities $4.790M $8.210M $4.680M
Capital Expenditures $50.00K -$960.0K $25.00K
Free Cash Flow $4.740M $9.170M $4.655M
YoY Change 1.83% 21.94% -38.63%

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dei Trading Symbol
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dei Entity Registrant Name
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27499000 shares
us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
409000
us-gaap Maintenance Costs
MaintenanceCosts
5994000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segment
us-gaap Reimbursement Revenue
ReimbursementRevenue
1700000
us-gaap Sales Revenue Net
SalesRevenueNet
74676000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
205000
us-gaap Payments Of Dividends
PaymentsOfDividends
2751000
us-gaap Licenses Revenue
LicensesRevenue
14412000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1241000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-38000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
349000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
10291000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
33057000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11973000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1062000
us-gaap Maintenance Revenue
MaintenanceRevenue
27207000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
387000
us-gaap Gain Loss On Investments
GainLossOnInvestments
-485000
us-gaap Gross Profit
GrossProfit
41644000
us-gaap Operating Income Loss
OperatingIncomeLoss
11314000
us-gaap Cost Of Services
CostOfServices
23916000
us-gaap Share Based Compensation
ShareBasedCompensation
1081000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11758000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
14444000
us-gaap Operating Expenses
OperatingExpenses
30330000
us-gaap License Costs
LicenseCosts
3122000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4210000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1413000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2000000
us-gaap Cost Of Revenue
CostOfRevenue
33032000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3352000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1897000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
349000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
375000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
13301000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3623000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6442000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
69000
amswa Number Of Major Product And Service Groups
NumberOfMajorProductAndServiceGroups
4 Group
amswa Payments To Develop Software To Be Sold Leased Or Otherwise Marketed
PaymentsToDevelopSoftwareToBeSoldLeasedOrOtherwiseMarketed
2402000
amswa Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
-37000
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2013Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27614000 shares
CY2013Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1712191 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27193000 shares
CY2013Q1 us-gaap Reimbursement Revenue
ReimbursementRevenue
476000.0
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
23076000
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25000
CY2013Q1 us-gaap Licenses Revenue
LicensesRevenue
4926000
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
164000
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
9564000
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2748000
CY2013Q1 us-gaap Maintenance Revenue
MaintenanceRevenue
8586000
CY2013Q1 us-gaap Gross Profit
GrossProfit
12032000
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2291000
CY2013Q1 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
293000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
2140000
CY2013Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
109000
CY2013Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2590000
CY2013Q1 us-gaap Maintenance Costs
MaintenanceCosts
1893000
CY2013Q1 us-gaap Cost Of Services
CostOfServices
7354000
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
342000
CY2013Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4868000
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
9741000
CY2013Q1 us-gaap License Costs
LicenseCosts
1797000
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
608000
CY2013Q1 us-gaap Cost Of Revenue
CostOfRevenue
11044000
CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1033000
CY2013Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
125000
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2209000
CY2013Q1 amswa Payments To Develop Software To Be Sold Leased Or Otherwise Marketed
PaymentsToDevelopSoftwareToBeSoldLeasedOrOtherwiseMarketed
836000
CY2013Q1 amswa Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
-51000
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2014Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28187000 shares
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
440196 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27686000 shares
CY2014Q1 us-gaap Reimbursement Revenue
ReimbursementRevenue
450000.0
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
24427000
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50000
CY2014Q1 us-gaap Licenses Revenue
LicensesRevenue
5002000
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-33000
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
10167000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3737000
CY2014Q1 us-gaap Maintenance Revenue
MaintenanceRevenue
9258000
CY2014Q1 us-gaap Gross Profit
GrossProfit
13963000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3539000
CY2014Q1 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
231000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
2477000
CY2014Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
125000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2882000
CY2014Q1 us-gaap Maintenance Costs
MaintenanceCosts
2042000
CY2014Q1 us-gaap Cost Of Services
CostOfServices
7695000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
382000
CY2014Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5032000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
10424000
CY2014Q1 us-gaap License Costs
LicenseCosts
727000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1260000
CY2014Q1 us-gaap Cost Of Revenue
CostOfRevenue
10464000
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
435000
CY2014Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
125000
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2338000
CY2014Q1 amswa Payments To Develop Software To Be Sold Leased Or Otherwise Marketed
PaymentsToDevelopSoftwareToBeSoldLeasedOrOtherwiseMarketed
761000
CY2014Q1 amswa Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
47000

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