$RSSS
Research Solutions, Inc.

2012 Q2 Form 10-Q Financial Statement

#000114420412029094 Filed on May 15, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q2
Revenue $10.88M $9.987M $11.34M
YoY Change -4.06% 30.92% 78.3%
Cost Of Revenue $8.340M $7.744M $9.480M
YoY Change -12.03% 11.14% 70.81%
Gross Profit $2.550M $2.243M $1.860M
YoY Change 37.1% 239.66% 129.63%
Gross Profit Margin 23.44% 22.46% 16.4%
Selling, General & Admin $3.050M $2.037M $3.490M
YoY Change -12.61% -2.27% 226.17%
% of Gross Profit 119.61% 90.83% 187.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $150.0K $380.0K $510.0K
YoY Change -70.59% 375.0% 628.57%
% of Gross Profit 5.88% 16.94% 27.42%
Operating Expenses $3.180M $4.687M $3.980M
YoY Change -20.1% 118.23% 252.21%
Operating Profit -$630.0K -$2.444M -$2.120M
YoY Change -70.28% 64.33% 562.5%
Interest Expense -$60.00K $38.46K -$80.00K
YoY Change -25.0% 54.96%
% of Operating Profit
Other Income/Expense, Net $0.00 $4.050K $20.00K
YoY Change -100.0% -300.0%
Pretax Income -$930.0K -$2.479M -$2.180M
YoY Change -57.34% 63.02% 541.18%
Income Tax $10.00K -$350.0K $0.00
% Of Pretax Income
Net Earnings -$930.0K -$2.129M -$2.180M
YoY Change -57.34% 40.01% 560.61%
Net Earnings / Revenue -8.55% -21.32% -19.22%
Basic Earnings Per Share
Diluted Earnings Per Share -$54.48K -$124.8K -$134.6K
COMMON SHARES
Basic Shares Outstanding 17.07M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.150M $3.250M $2.870M
YoY Change 9.76% -13.33% 55.14%
Cash & Equivalents $3.151M $3.246M $2.868M
Short-Term Investments
Other Short-Term Assets $590.0K $908.00 $18.32K
YoY Change 3120.52% -99.93% -97.68%
Inventory $363.6K $637.7K $759.5K
Prepaid Expenses $175.2K $280.0K $298.9K
Receivables $6.099M $6.984M $6.691M
Other Receivables $197.0K $252.1K $356.5K
Total Short-Term Assets $10.40M $11.63M $12.24M
YoY Change -15.01% -19.55% 72.13%
LONG-TERM ASSETS
Property, Plant & Equipment $1.295M $979.0K $1.666M
YoY Change -22.32% -49.53% 350.4%
Goodwill $223.4K $1.568M
YoY Change
Intangibles $83.58K $1.884M
YoY Change
Long-Term Investments
YoY Change
Other Assets $240.0K $280.0K $310.0K
YoY Change -22.58% -30.0%
Total Long-Term Assets $1.604M $1.564M $5.426M
YoY Change -70.44% -72.9% 327.28%
TOTAL ASSETS
Total Short-Term Assets $10.40M $11.63M $12.24M
Total Long-Term Assets $1.604M $1.564M $5.426M
Total Assets $12.01M $13.20M $17.66M
YoY Change -32.03% -34.77% 110.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $0.00 $70.00K
YoY Change -100.0% -100.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.050M $1.410M $1.490M
YoY Change -29.53% 20.51%
Long-Term Debt Due $640.0K $590.0K $660.0K
YoY Change -3.03% -35.16% 2100.0%
Total Short-Term Liabilities $11.57M $11.98M $9.742M
YoY Change 18.81% 21.27% 94.06%
LONG-TERM LIABILITIES
Long-Term Debt $870.0K $810.0K $1.390M
YoY Change -37.41% -50.31% 3375.0%
Other Long-Term Liabilities $359.3K $0.00 $359.3K
YoY Change 0.0% -100.0%
Total Long-Term Liabilities $359.3K $810.0K $359.3K
YoY Change 0.0% -64.0% 798.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.57M $11.98M $9.742M
Total Long-Term Liabilities $359.3K $810.0K $359.3K
Total Liabilities $12.44M $12.79M $11.84M
YoY Change 5.05% 2.49% 132.21%
SHAREHOLDERS EQUITY
Retained Earnings -$14.18M -$13.25M -$7.652M
YoY Change 85.37%
Common Stock $17.07K $17.07K $16.82K
YoY Change 1.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$434.6K $405.1K $5.822M
YoY Change
Total Liabilities & Shareholders Equity $12.01M $13.20M $17.66M
YoY Change -32.03% -34.77% 110.79%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q2
OPERATING ACTIVITIES
Net Income -$930.0K -$2.129M -$2.180M
YoY Change -57.34% 40.01% 560.61%
Depreciation, Depletion And Amortization $150.0K $380.0K $510.0K
YoY Change -70.59% 375.0% 628.57%
Cash From Operating Activities $620.0K -$450.0K -$230.0K
YoY Change -369.57% -83.27% -32.35%
INVESTING ACTIVITIES
Capital Expenditures -$160.0K -$40.00K -$190.0K
YoY Change -15.79% -33.33% 280.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$320.0K
YoY Change -100.0% -100.0%
Cash From Investing Activities -$160.0K -$40.00K -$500.0K
YoY Change -68.0% -106.9% 900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -690.0K 460.0K -130.0K
YoY Change 430.77% -82.71% 1200.0%
NET CHANGE
Cash From Operating Activities 620.0K -450.0K -230.0K
Cash From Investing Activities -160.0K -40.00K -500.0K
Cash From Financing Activities -690.0K 460.0K -130.0K
Net Change In Cash -230.0K -30.00K -860.0K
YoY Change -73.26% -105.45% 115.0%
FREE CASH FLOW
Cash From Operating Activities $620.0K -$450.0K -$230.0K
Capital Expenditures -$160.0K -$40.00K -$190.0K
Free Cash Flow $780.0K -$410.0K -$40.00K
YoY Change -2050.0% -84.41% -86.21%

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dysc Weighted Average Number Basic Diluted Shares Outstanding
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17038010 shares
dysc Adjustments To Additional Paid In Capital Associated With Extension Of Expiration Date Of Warrants
AdjustmentsToAdditionalPaidInCapitalAssociatedWithExtensionOfExpirationDateOfWarrants
-264714
CY2011Q1 us-gaap Gross Profit
GrossProfit
660359
CY2011Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
949
CY2011Q1 us-gaap Revenues
Revenues
7628334
dysc Increase Decrease In Prepaid Royalties
IncreaseDecreaseInPrepaidRoyalties
-1013809
dysc Adjustments To Additional Paid In Capital Option Issued
AdjustmentsToAdditionalPaidInCapitalOptionIssued
129318
CY2011Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1520647
CY2011Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1520647
CY2011Q1 us-gaap Interest Expense
InterestExpense
24817
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
-1520647
CY2011Q1 us-gaap Cost Of Revenue
CostOfRevenue
6967975
CY2011Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
63207
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1487466
CY2011Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9313
CY2011Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2084618
CY2011Q1 us-gaap Operating Expenses
OperatingExpenses
2147825
CY2011Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2011Q1 dysc Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
15866221 shares
CY2012Q1 us-gaap Gross Profit
GrossProfit
2242945
CY2012Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
361
CY2012Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4050
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-9745
CY2012Q1 us-gaap Revenues
Revenues
9986862
CY2012Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2138763
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2479018
CY2012Q1 us-gaap Interest Expense
InterestExpense
38457
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
-2129018
CY2012Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1602638
CY2012Q1 us-gaap Cost Of Revenue
CostOfRevenue
7743917
CY2012Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
688138
CY2012Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
359220
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2444282
CY2012Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-690
CY2012Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2037231
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-350000
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
4687227
CY2012Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2012Q1 dysc Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
17069437 shares

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