10-Q Filing

KOSS CORP CIK: 56701 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000056701-12-000027`
Period End Date	20120930
Filing Date	20121102
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	koss-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 33 Cash Flow Statement 44

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.56K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$34.23K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$233.63K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$195.19K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.03K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$160.54K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $34,228 and $31,559, respectively	`AccountsReceivableNetCurrent`	$5.33M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.38M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $34,228 and $31,559, respectively	`AccountsReceivableNetCurrent`	$4.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.38M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	Point-in-time
Inventories	`InventoryNet`	$9.12M	USD	Point-in-time
Inventories	`InventoryNet`	$9.40M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$387.07K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$960.02K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$963.30K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$16.12M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$16.12M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$2.81M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$2.74M	USD	Point-in-time
Product software development expenditures, net	`ProductSoftwareDevelopmentCostNet`	$3.89M	USD	Point-in-time
Product software development expenditures, net	`ProductSoftwareDevelopmentCostNet`	$4.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.36M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.14M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$4.57M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$4.30M	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingEquipmentAndLeaseholdImprovements`	$9.60M	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentExcludingEquipmentAndLeaseholdImprovements`	$9.89M	USD	Point-in-time
Total Assets	`Assets`	$28.75M	USD	Point-in-time
Total Assets	`Assets`	$28.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.40M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.37M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$442.96K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$442.96K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.15M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.15M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.02M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$8.57M	USD	Point-in-time
Line of credit facility	`LongTermLineOfCredit`	$2.20M	USD	Point-in-time
Line of credit facility	`LongTermLineOfCredit`	-	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.25M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.20M	USD	Point-in-time
Derivative liability	`DerivativeFairValueOfDerivativeNet`	$-138.58K	USD	Point-in-time
Derivative liability	`DerivativeFairValueOfDerivativeNet`	$-135.33K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$754.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$754.00K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$5.34M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$3.09M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.65M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.36M	USD	Point-in-time
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 7,382,706 shares	`CommonStockValue`	$36.91K	USD	Point-in-time
Common stock, $0.005 par value, authorized 20,000,000 shares; issued and outstanding 7,382,706 shares	`CommonStockValue`	$36.91K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.77M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.36M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.17M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.10M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$28.75M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$28.53M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$8.91M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$8.75M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.66M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.33M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.02M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.89M	USD	1 Quarter
Unauthorized transaction related recoveries, net	`UnauthorizedTransactionRelatedCostsAndRecoveriesNet`	$-382.73K	USD	1 Quarter
Unauthorized transaction related recoveries, net	`UnauthorizedTransactionRelatedCostsAndRecoveriesNet`	$-50.41K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.83M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.64M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$493.47K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$615.15K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest expense	`InterestExpenseRelatedToDebtAndTaxPositions`	$29.31K	USD	1 Quarter
Interest expense	`InterestExpenseRelatedToDebtAndTaxPositions`	$40.53K	USD	1 Quarter
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-29.30K	USD	1 Quarter
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-40.53K	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$452.94K	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$585.85K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$172.35K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$219.70K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$366.15K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$280.60K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	Point-in-time

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$366.15K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$280.60K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.63K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$8.76K	USD	1 Quarter
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$166.30K	USD	1 Quarter
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$214.98K	USD	1 Quarter
Amortization of product software development expenditures	`AmortizationOfIntangibleAssets`	$364.54K	USD	1 Quarter
Amortization of product software development expenditures	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$124.67K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$148.50K	USD	1 Quarter
Provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$219.69K	USD	1 Quarter
Provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$172.35K	USD	1 Quarter
Change in cash surrender value of life insurance	`IncreaseDecreaseInCashSurrenderValueOfLifeInsurance`	$6.10K	USD	1 Quarter
Change in cash surrender value of life insurance	`IncreaseDecreaseInCashSurrenderValueOfLifeInsurance`	$5.89K	USD	1 Quarter
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$41.99K	USD	1 Quarter
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$57.75K	USD	1 Quarter
Net changes in operating assets and liabilities (see note 12)	`IncreaseDecreaseInOperatingCapital`	$2.41M	USD	1 Quarter
Net changes in operating assets and liabilities (see note 12)	`IncreaseDecreaseInOperatingCapital`	$1.39M	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-606.05K	USD	1 Quarter
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.04M	USD	1 Quarter
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$257.36K	USD	1 Quarter
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$347.27K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$294.25K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$420.43K	USD	1 Quarter
Product software development expenditures	`PaymentsForSoftware`	$210.19K	USD	1 Quarter
Product software development expenditures	`PaymentsForSoftware`	$22.58K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-977.90K	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-574.19K	USD	1 Quarter
Net proceeds from line of credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.10M	USD	1 Quarter
Net proceeds from line of credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$2.20M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$442.96K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$442.96K	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.66M	USD	1 Quarter
Net cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.76M	USD	1 Quarter
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$73.09K	USD	1 Quarter
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$145.16K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$233.63K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$195.19K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.03K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$160.54K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$233.63K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$195.19K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.03K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$160.54K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.