$TRXDW
CELLULAR TECHNICAL SERVICES CO INC

2015 Q3 Form 10-Q Financial Statement

#000119312515281134 Filed on August 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q4
Revenue $0.00 $0.00 $134.0K
YoY Change -100.0% -100.0% -39.09%
Cost Of Revenue $0.00 $0.00 $435.0K
YoY Change -100.0% -100.0% -38.73%
Gross Profit $0.00 $0.00 -$301.0K
YoY Change -100.0% -100.0% -39.8%
Gross Profit Margin -224.63%
Selling, General & Admin $2.175M $2.363M $1.520M
YoY Change 12.29% -0.46% -24.38%
% of Gross Profit
Research & Development $7.048M $6.579M $5.980M
YoY Change -22.27% -16.53% 23.3%
% of Gross Profit
Depreciation & Amortization $620.0K $380.0K $370.0K
YoY Change 77.14% 26.67% -11.9%
% of Gross Profit
Operating Expenses $9.223M $8.942M $7.490M
YoY Change -16.19% -12.81% 9.18%
Operating Profit -$13.56M -$9.068M -$7.791M
YoY Change 20.35% -12.65% 5.86%
Interest Expense $436.0K $280.0K $279.0K
YoY Change 83.97% 35.92% -232.86%
% of Operating Profit
Other Income/Expense, Net -$436.0K -$280.0K $0.00
YoY Change 83.97% 35.92%
Pretax Income -$14.00M -$9.348M -$8.079M
YoY Change 21.67% -11.7% 0.61%
Income Tax -$99.00K
% Of Pretax Income
Net Earnings -$13.90M -$9.348M -$8.079M
YoY Change 20.8% -11.7% 0.61%
Net Earnings / Revenue -6029.1%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.10 -$1.78 -$1.66
COMMON SHARES
Basic Shares Outstanding 84.56M shares 65.61M shares 63.16M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.90M $71.10M $34.80M
YoY Change 19.41% 35.17% 114.81%
Cash & Equivalents $52.89M $71.11M $34.77M
Short-Term Investments
Other Short-Term Assets $5.450M $586.0K $740.0K
YoY Change 554.26% -5.02% 24.79%
Inventory $3.435M $0.00
Prepaid Expenses $608.0K
Receivables $78.00K $8.000K $133.0K
Other Receivables $0.00 $0.00 $132.0K
Total Short-Term Assets $61.86M $71.71M $35.64M
YoY Change 36.01% 33.49% 100.73%
LONG-TERM ASSETS
Property, Plant & Equipment $4.388M $2.914M $3.120M
YoY Change 51.26% 20.76% 67.38%
Goodwill $116.1M $93.84M $93.84M
YoY Change 23.67% 0.0% 0.0%
Intangibles $1.997M $2.248M
YoY Change -20.09% -18.28%
Long-Term Investments
YoY Change
Other Assets $59.00K $90.00K $18.00K
YoY Change -16.9% 25.0% -85.83%
Total Long-Term Assets $206.6M $98.84M $99.47M
YoY Change 107.74% -0.24% 0.52%
TOTAL ASSETS
Total Short-Term Assets $61.86M $71.71M $35.64M
Total Long-Term Assets $206.6M $98.84M $99.47M
Total Assets $268.4M $170.6M $135.1M
YoY Change 85.23% 11.62% 15.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.394M $1.606M $1.768M
YoY Change 34.58% -55.59% -2.0%
Accrued Expenses $6.160M $2.259M $1.769M
YoY Change 250.8% 18.52% 25.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.800M $2.500M $600.0K
YoY Change -39.02% -84.62%
Total Short-Term Liabilities $15.33M $6.352M $4.147M
YoY Change 205.4% -33.65% -41.5%
LONG-TERM LIABILITIES
Long-Term Debt $14.90M $7.400M $9.200M
YoY Change 50.51% 196.0% 100.0%
Other Long-Term Liabilities $24.30M $0.00
YoY Change
Total Long-Term Liabilities $39.20M $7.400M $9.200M
YoY Change 295.96% 196.0% 100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.33M $6.352M $4.147M
Total Long-Term Liabilities $39.20M $7.400M $9.200M
Total Liabilities $75.74M $13.78M $13.32M
YoY Change 408.57% 13.82% 13.95%
SHAREHOLDERS EQUITY
Retained Earnings -$169.3M -$155.4M -$135.9M
YoY Change 32.42% 33.57% 38.32%
Common Stock $362.4M $312.2M $257.7M
YoY Change 40.54% 21.45% 26.77%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.000K
YoY Change
Treasury Stock Shares 1.173K shares 0.000 shares
Shareholders Equity $192.7M $156.8M $121.8M
YoY Change
Total Liabilities & Shareholders Equity $268.4M $170.6M $135.1M
YoY Change 85.23% 11.62% 15.76%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q4
OPERATING ACTIVITIES
Net Income -$13.90M -$9.348M -$8.079M
YoY Change 20.8% -11.7% 0.61%
Depreciation, Depletion And Amortization $620.0K $380.0K $370.0K
YoY Change 77.14% 26.67% -11.9%
Cash From Operating Activities -$8.450M -$7.920M -$9.020M
YoY Change -22.12% 14.78% 25.45%
INVESTING ACTIVITIES
Capital Expenditures $420.0K $150.0K $540.0K
YoY Change -41.67% -79.17% -18.18%
Acquisitions
YoY Change
Other Investing Activities -$25.00M $0.00 $0.00
YoY Change -83433.33% -100.0% -100.0%
Cash From Investing Activities -$25.42M -$150.0K -$550.0K
YoY Change 3584.06% -104.01% -90.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.800M $46.40M
YoY Change -11.45%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.65M 50.80M -10.00K
YoY Change 371.39% -1.47% -98.72%
NET CHANGE
Cash From Operating Activities -8.450M -7.920M -9.020M
Cash From Investing Activities -25.42M -150.0K -550.0K
Cash From Financing Activities 15.65M 50.80M -10.00K
Net Change In Cash -18.22M 42.73M -9.580M
YoY Change 121.65% -11.71% -30.68%
FREE CASH FLOW
Cash From Operating Activities -$8.450M -$7.920M -$9.020M
Capital Expenditures $420.0K $150.0K $540.0K
Free Cash Flow -$8.870M -$8.070M -$9.560M
YoY Change -23.34% 5.91% 21.78%

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dei Entity Registrant Name
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TRANSENTERIX INC.
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trxc Description Of Merger Agreement
DescriptionOfMergerAgreement
The Lock-up and Voting Agreements provide that such persons may sell, transfer or convey (i) up to 50% of their respective Covered Securities during the period commencing on the one-year anniversary of the Closing Date and ending on the eighteen-month anniversary of the Closing Date; and (ii) up to an aggregate of 75% of their respective Covered Securities during the period commencing on the eighteen-month anniversary of the Closing Date and ending on the two-year anniversary of the Closing Date.
trxc Issuance Costs On Issuance Of Common Stock
IssuanceCostsOnIssuanceOfCommonStock
4000000
trxc Issuance Of Common Stock Net Of Issuance Costs
IssuanceOfCommonStockNetOfIssuanceCosts
52533000
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
461000
CY2014Q2 us-gaap Interest Expense
InterestExpense
206000
CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
10494000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7882000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1913000
CY2014Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
trxc Required Percentage Of Common Stock Held Due To Lock Up
RequiredPercentageOfCommonStockHeldDueToLockUp
0.93 pure
CY2014Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
52400000
CY2014Q2 trxc Stock Issued During Period Value New Issues On Exercise Of Over Allotment Option By Underwriter
StockIssuedDuringPeriodValueNewIssuesOnExerciseOfOverAllotmentOptionByUnderwriter
6400000
CY2014Q2 trxc Stock Issued During Period Shares New Issues On Exercise Of Over Allotment Option By Underwriter
StockIssuedDuringPeriodSharesNewIssuesOnExerciseOfOverAllotmentOptionByUnderwriter
1610000 shares
CY2014Q2 trxc Issuance Costs On Issuance Of Common Stock
IssuanceCostsOnIssuanceOfCommonStock
4000000
CY2014 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
59673000 shares
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-10587000
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
113000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-10381000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-206000
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-10587000
CY2014Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
238000
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
68105000 shares
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-9348000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9068000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-280000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-9348000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
373000
CY2015Q2 us-gaap Interest Expense
InterestExpense
280000
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
9068000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6579000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2116000
CY2015Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
0
CY2015Q2 trxc Estimated Annual Effective Income Tax Rate Continuing Operations
EstimatedAnnualEffectiveIncomeTaxRateContinuingOperations
0.00 pure

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