$VIDE
VIDEO DISPLAY CORP

2013 Q1 Form 10-K Financial Statement

#000119312513239279 Filed on May 29, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q4 2012 Q3
Revenue $11.55M $12.61M $12.38M
YoY Change -21.04% -21.35% -25.16%
Cost Of Revenue -$1.320M $4.089M $3.910M
YoY Change -112.45% -61.68% -65.49%
Gross Profit $408.0K $295.0K $164.0K
YoY Change -89.88% -94.51% -96.85%
Gross Profit Margin 3.53% 2.34% 1.32%
Selling, General & Admin $220.0K $1.411M $1.422M
YoY Change -93.82% -59.1% -60.83%
% of Gross Profit 53.92% 478.31% 867.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.00K $120.0K -$10.00K
YoY Change -92.31% -53.85% -103.57%
% of Gross Profit 4.9% 40.68% -6.1%
Operating Expenses $230.0K $1.411M $1.422M
YoY Change -93.54% -59.1% -60.83%
Operating Profit $178.0K -$957.0K -$915.0K
YoY Change -62.21% -149.84% -157.77%
Interest Expense -$180.0K $163.0K $176.0K
YoY Change 5.88% -185.79% -183.81%
% of Operating Profit -101.12%
Other Income/Expense, Net -$210.0K -$78.00K -$114.0K
YoY Change 950.0% -211.43% -242.5%
Pretax Income -$850.0K -$1.035M -$1.029M
YoY Change -393.1% -157.5% -170.48%
Income Tax -$280.0K -$399.0K -$381.0K
% Of Pretax Income
Net Earnings -$507.0K -$643.0K -$713.0K
YoY Change -733.75% -151.11% -171.23%
Net Earnings / Revenue -4.39% -5.1% -5.76%
Basic Earnings Per Share -$0.07 -$0.09 -$0.09
Diluted Earnings Per Share -$0.07 -$0.09 -$0.09
COMMON SHARES
Basic Shares Outstanding 7.566M shares 7.565M shares
Diluted Shares Outstanding 7.615M shares 7.625M shares

Balance Sheet

Concept 2013 Q1 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $400.0K $0.00 $30.00K
YoY Change 166.67% -100.0% -83.33%
Cash & Equivalents $379.0K
Short-Term Investments $20.00K
Other Short-Term Assets $29.34M $6.280M $5.150M
YoY Change 388.19% -1.57% -14.17%
Inventory $11.17M $31.58M $32.01M
Prepaid Expenses
Receivables $3.125M $5.960M $5.660M
Other Receivables $480.0K $80.00K $0.00
Total Short-Term Assets $44.53M $43.91M $42.84M
YoY Change 1.73% -1.35% -5.07%
LONG-TERM ASSETS
Property, Plant & Equipment $1.851M $4.300M $4.470M
YoY Change -58.08% -2.05% 1.82%
Goodwill $1.258M
YoY Change -2.56%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $29.00K $760.0K $730.0K
YoY Change 383.33% 15.15% -10.98%
Total Long-Term Assets $7.763M $8.010M $8.230M
YoY Change -0.88% 3.89% 3.78%
TOTAL ASSETS
Total Short-Term Assets $44.53M $43.91M $42.84M
Total Long-Term Assets $7.763M $8.010M $8.230M
Total Assets $52.29M $51.92M $51.07M
YoY Change 1.34% -0.57% -3.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.029M $3.370M $2.170M
YoY Change -37.32% 2.43% -44.64%
Accrued Expenses $1.195M $2.010M $2.020M
YoY Change -38.56% -18.29% -19.52%
Deferred Revenue
YoY Change
Short-Term Debt $9.940M $11.09M $11.16M
YoY Change
Long-Term Debt Due $4.596M $4.820M $5.050M
YoY Change 386.35% 412.77% 276.87%
Total Short-Term Liabilities $22.30M $21.48M $20.78M
YoY Change 244.74% 221.08% 151.88%
LONG-TERM LIABILITIES
Long-Term Debt $281.0K $290.0K $310.0K
YoY Change -94.24% -98.23% -98.15%
Other Long-Term Liabilities $123.0K $800.0K $800.0K
YoY Change -50.0% 566.67% 566.67%
Total Long-Term Liabilities $404.0K $1.090M $1.110M
YoY Change -92.12% -93.41% -93.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.30M $21.48M $20.78M
Total Long-Term Liabilities $404.0K $1.090M $1.110M
Total Liabilities $23.39M $22.57M $21.89M
YoY Change 3.25% -2.88% -12.82%
SHAREHOLDERS EQUITY
Retained Earnings $32.07M
YoY Change 0.02%
Common Stock $7.409M
YoY Change 0.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.57M
YoY Change 0.52%
Treasury Stock Shares 2.166M shares
Shareholders Equity $28.91M $29.35M $29.18M
YoY Change
Total Liabilities & Shareholders Equity $52.29M $51.92M $51.07M
YoY Change 1.34% -0.57% -3.75%

Cashflow Statement

Concept 2013 Q1 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$507.0K -$643.0K -$713.0K
YoY Change -733.75% -151.11% -171.23%
Depreciation, Depletion And Amortization $20.00K $120.0K -$10.00K
YoY Change -92.31% -53.85% -103.57%
Cash From Operating Activities $1.100M $250.0K $1.580M
YoY Change -43.88% -74.49% 119.44%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K $0.00 $90.00K
YoY Change -60.0% -100.0% -169.23%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $50.00K
YoY Change -100.0%
Cash From Investing Activities -$70.00K $0.00 $150.0K
YoY Change -94.12% -100.0% -215.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -880.0K -290.0K -1.560M
YoY Change 31.34% -68.48% -37.6%
NET CHANGE
Cash From Operating Activities 1.100M 250.0K 1.580M
Cash From Investing Activities -70.00K 0.000 150.0K
Cash From Financing Activities -880.0K -290.0K -1.560M
Net Change In Cash 150.0K -40.00K 170.0K
YoY Change 50.0% -69.23% -108.9%
FREE CASH FLOW
Cash From Operating Activities $1.100M $250.0K $1.580M
Capital Expenditures -$60.00K $0.00 $90.00K
Free Cash Flow $1.160M $250.0K $1.490M
YoY Change -45.02% -78.63% 75.29%

Facts In Submission

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CY2013Q1 us-gaap Long Term Debt
LongTermDebt
4877000
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
10574000
CY2013Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6282000
CY2013Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9732000 shares
CY2013Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
165000
CY2013Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
48000
CY2013Q1 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
659000
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
159000
CY2013Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
22000
CY2013Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2281000
CY2013Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
19353000
CY2013Q1 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
299000
CY2013Q1 us-gaap Cash
Cash
316000
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
120000
CY2013Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
163000
CY2013Q1 us-gaap Business Acquisition Contingent Consideration Potential Cash Payment
BusinessAcquisitionContingentConsiderationPotentialCashPayment
1625000
CY2013Q1 us-gaap Liabilities Current
LiabilitiesCurrent
22301000
CY2013Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
60000
CY2013Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
1120000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
62000 shares
CY2013Q1 us-gaap Common Stock Value
CommonStockValue
7293000
CY2013Q1 us-gaap Customer Advances Current
CustomerAdvancesCurrent
551000
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2217000
CY2013Q1 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
35000
CY2013Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
281000
CY2013Q1 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
169000
CY2013Q1 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
3000000
CY2013Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
4.79
CY2013Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
980000
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-2000
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-1.050 pure
CY2013Q1 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
2353000
CY2013Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
52000
CY2013Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5299000
CY2013Q1 us-gaap Land
Land
281000
CY2013Q1 us-gaap Assets Current
AssetsCurrent
44530000
CY2013Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7742000
CY2013Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2013Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2948000
CY2013Q1 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms
2353000
CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2013Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2013Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
77000
CY2013Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
3364000
CY2013Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17122000
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4211000
CY2013Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
4596000
CY2013Q1 vide Billings In Excess Of Cost And Estimated Earnings
BillingsInExcessOfCostAndEstimatedEarnings
169000
CY2013Q1 vide Deferred Tax Assets Amortizable Intangibles
DeferredTaxAssetsAmortizableIntangibles
720000
CY2013Q1 vide Current Portion Long Term Debt
CurrentPortionLongTermDebt
4596000
CY2013Q1 vide Long Term Debt Maturities Repayments Of Principals
LongTermDebtMaturitiesRepaymentsOfPrincipals
15318000
CY2013Q1 vide Billings Of Uncompleted Contracts To Date
BillingsOfUncompletedContractsToDate
3748000
CY2013Q1 vide Costs And Estimated Earnings In Excess Of Billings Net
CostsAndEstimatedEarningsInExcessOfBillingsNet
2184000
CY2013Q1 vide Costs Incurred And Estimated Earnings Of Uncompleted Contracts
CostsIncurredAndEstimatedEarningsOfUncompletedContracts
5932000
CY2013Q1 vide Costs Incurred To Date On Uncompleted Contracts
CostsIncurredToDateOnUncompletedContracts
3900000
CY2013Q1 vide Estimated Earnings Recognized To Date On These Contracts
EstimatedEarningsRecognizedToDateOnTheseContracts
2032000
CY2013Q1 vide Outstanding Claims Relating To Contract Values
OutstandingClaimsRelatingToContractValues
0
CY2013Q1 vide Production Costs That Exceeded Aggregate Estimated Cost
ProductionCostsThatExceededAggregateEstimatedCost
0
CY2013Q1 vide Stock Repurchase Price Per Share
StockRepurchasePricePerShare
4.10
CY2013Q1 vide Deferred Tax Assets Uniform Capitalization
DeferredTaxAssetsUniformCapitalization
586000
CY2013Q1 vide Accrued Liability To Issue Stock
AccruedLiabilityToIssueStock
168000
CY2006Q2 vide Share Based Compensation Arrangement By Share Payment Option Exercisable Maximum Period
ShareBasedCompensationArrangementBySharePaymentOptionExercisableMaximumPeriod
P10Y
CY2006Q3 vide Share Based Compensation Arrangement By Share Based Payment Award Options Granted Percentage Of Market Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedPercentageOfMarketValue
1.10 pure
CY2008Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1000000
CY2012Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
60000
CY2012Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
48000
CY2012Q3 vide Aggregate Gain On Sale Of Property Plant Equipment
AggregateGainOnSaleOfPropertyPlantEquipment
602000
CY2012Q3 vide Note Receivable Maturity Period
NoteReceivableMaturityPeriod
P10Y
CY2013 dei Trading Symbol
TradingSymbol
VIDE
CY2013 dei Entity Registrant Name
EntityRegistrantName
VIDEO DISPLAY CORP
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-02-28
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0000758743
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
20565000
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-6000
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
189000
CY2013 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
49103000
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.27
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
381000
CY2013 us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
The Company was not in compliance with the fixed charge coverage ratio, the senior funded debt to EBITDA ratio (which the Company believes is the most restrictive covenant) and permitted share repurchases covenants as defined by the Banks credit line agreements.
CY2013 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
143000
CY2013 us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
The agreement contains three covenants, as amended a fixed charge coverage ratio, ratio of senior funded debt to earnings before interest, taxes, depreciation and amortization (EBITDA), and total liabilities to tangible net worth. The agreement also includes restrictions on the incurrence of additional debt or liens, investments (including Company stock, as amended), divestitures and certain other changes in the business.
CY2013 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
690000
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-49000
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
-82000
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1061000
CY2013 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-3000
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
10000
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.00
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2013 us-gaap Notes Reduction
NotesReduction
250000
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1917000
CY2013 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
500000
CY2013 us-gaap Debt Instrument Interest Rate Stated Percentage Rate Range Minimum
DebtInstrumentInterestRateStatedPercentageRateRangeMinimum
0.040 pure
CY2013 us-gaap Fiscal Period
FiscalPeriod
<div> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Fiscal Year</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">All references herein to &#x201C;2013&#x201D; and &#x201C;2012&#x201D; mean the fiscal years ended February&#xA0;28, 2013 and February&#xA0;29, 2012, respectively. Unless otherwise noted, these policies and disclosures pertain to our continuing operations.</font></p> </div>
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-423000
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-77000
CY2013 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
709000
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
725000
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
168000
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7375000
CY2013 us-gaap Inventory Write Down
InventoryWriteDown
2493000
CY2013 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
22627000
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-132000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
9000 shares
CY2013 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7623000 shares
CY2013 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P5Y2M12D
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-317000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-143000
CY2013 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5350000
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
900000
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1626000
CY2013 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.00
CY2013 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
75000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
6000 shares
CY2013 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
22031 shares
CY2013 us-gaap Operating Expenses
OperatingExpenses
12725000
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7570000 shares
CY2013 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
300000
CY2013 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2013 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2013-12-01
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4248000
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
145000
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
CY2013 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-64000
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
19000
CY2013 us-gaap Depreciation
Depreciation
800000
CY2013 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-119000
CY2013 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
47000
CY2013 us-gaap Cost Of Goods Sold
CostOfGoodsSold
36189000
CY2013 us-gaap Gross Profit
GrossProfit
12914000
CY2013 us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
52000
CY2013 us-gaap Interest Paid
InterestPaid
722000
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-294000
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37000 shares
CY2013 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-217000
CY2013 us-gaap Net Income Loss
NetIncomeLoss
8000
CY2013 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-332000
CY2013 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
5000
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1400000
CY2013 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-38000
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-151000
CY2013 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.00
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Examples include provisions for returns, warranty reserves, bad debts, inventory reserves, valuations on deferred income tax assets, goodwill, and other intangible assets, accounting for percentage of completion contracts and the length of product life cycles and fixed asset lives. Actual results could vary from these estimates.</font></p> </div>
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
238000
CY2012 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
18684000
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
212000
CY2013 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
263000
CY2013 us-gaap Interest Expense
InterestExpense
713000
CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
8000
CY2013 vide Increase Decrease In Net Income Loss
IncreaseDecreaseInNetIncomeLoss
300000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
6023000
CY2012 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
64231000
CY2013 vide Inventory Write Off Against Reserve
InventoryWriteOffAgainstReserve
1400000
CY2013 vide Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
-107000
CY2013 vide Assets Disposed
AssetsDisposed
2700000
CY2013 vide Income Tax Reconciliation Change In Deferred Tax Rate
IncomeTaxReconciliationChangeInDeferredTaxRate
CY2013 vide Increase Decrease In Pretax Income Loss
IncreaseDecreaseInPretaxIncomeLoss
500000
CY2013 vide Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
-250000
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
120000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
875000
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1819000
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense Research And Development
IncomeTaxReconciliationNondeductibleExpenseResearchAndDevelopment
-128000
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1091000
CY2012 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-31000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
243000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.65
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.42
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1320000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
484000
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.331 pure
CY2012 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
10000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4162000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-223000
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
117000
CY2012 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
-1727000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
617000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1251000
CY2012 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1581000
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8437000
CY2012 us-gaap Inventory Write Down
InventoryWriteDown
1678000
CY2012 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
21905000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
50000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
9000 shares
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7802000 shares
CY2012 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
5000
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1071000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5350000
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5485000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
900000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5190000
CY2012 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.47
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
46000 shares
CY2012 us-gaap Operating Expenses
OperatingExpenses
13922000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7612000 shares
CY2012 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
400000
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1646000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
391000
CY2012 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
-398000
CY2012 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
14000
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
44286000
CY2012 us-gaap Depreciation
Depreciation
800000
CY2012 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
785000
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
5000
CY2012 us-gaap Gross Profit
GrossProfit
19945000
CY2012 us-gaap Interest Paid
InterestPaid
815000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
898000
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11000 shares
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
781000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
3577000
CY2012 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-673000
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1000
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1300000
CY2012 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-145000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1773000
CY2012 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
51000
CY2012 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.46
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
283000
CY2012 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
89000
CY2012 us-gaap Interest Expense
InterestExpense
793000
CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3577000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2011Q4 us-gaap Gross Profit
GrossProfit
5370000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
1258000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
12613000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2012Q4 us-gaap Gross Profit
GrossProfit
3282000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
148000
CY2012 vide Increase Decrease In Net Income Loss
IncreaseDecreaseInNetIncomeLoss
400000
CY2012 vide Inventory Write Off Against Reserve
InventoryWriteOffAgainstReserve
4100000
CY2012 vide Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
232000
CY2012 vide Assets Disposed
AssetsDisposed
4600000
CY2012 vide Payment For Settlement Of Litigation
PaymentForSettlementOfLitigation
800000
CY2012 vide Proceeds From Use Of Letter Of Credit And Certificate Of Deposits
ProceedsFromUseOfLetterOfCreditAndCertificateOfDeposits
1388000
CY2012 vide Supplemental Cash Flow Information Reduction Of Notes Payable
SupplementalCashFlowInformationReductionOfNotesPayable
199000
CY2012 vide Treasury Stock Acquired Value
TreasuryStockAcquiredValue
3272000
CY2012 vide Income Tax Reconciliation Change In Deferred Tax Rate
IncomeTaxReconciliationChangeInDeferredTaxRate
CY2012 vide Increase Decrease In Pretax Income Loss
IncreaseDecreaseInPretaxIncomeLoss
600000
CY2012 vide Payments For Proceeds From Notes Receivable
PaymentsForProceedsFromNotesReceivable
250000
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
11551000
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2013Q1 us-gaap Gross Profit
GrossProfit
2520000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-442000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
16036000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
14629000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2012Q1 us-gaap Gross Profit
GrossProfit
4031000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
80000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
17025000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2011Q2 us-gaap Gross Profit
GrossProfit
5330000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
1238000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
16541000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2011Q3 us-gaap Gross Profit
GrossProfit
5214000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
1001000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
12560000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2012Q2 us-gaap Gross Profit
GrossProfit
3610000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
159000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
12379000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2012Q3 us-gaap Gross Profit
GrossProfit
3502000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
143000

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