10-Q Filing

KOSS CORP CIK: 56701 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0000056701-13-000007`
Period End Date	20121231
Filing Date	20130201
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	koss-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 65 Cash Flow Statement 50

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`	$40.18K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$193.33K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$160.54K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$182.06K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.03K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $40,180 and $31,559, respectively	`AccountsReceivableNetCurrent`	$3.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.38M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.38M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $40,180 and $31,559, respectively	`AccountsReceivableNetCurrent`	$5.33M	USD	Point-in-time
Inventories	`InventoryNet`	$9.82M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	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`	$1.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$963.30K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$939.43K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$15.43M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$16.12M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$2.53M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$2.74M	USD	Point-in-time
Product software development expenditures, net	`ProductSoftwareDevelopmentCostNet`	$3.51M	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`	$961.01K	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`	$9.04M	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`	$27.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.60M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.81M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.37M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	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`	$8.57M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.36M	USD	Point-in-time
Line of credit facility	`LongTermLineOfCredit`	$1.20M	USD	Point-in-time
Line of credit facility	`LongTermLineOfCredit`	-	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.20M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.34M	USD	Point-in-time
Derivative liability	`DerivativeFairValueOfDerivativeNet`	$-141.83K	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`	$3.09M	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$4.43M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.65M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.79M	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`	$2.92M	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`	$14.25M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.21M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.10M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$27.00M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$28.75M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$8.64M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$9.99M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$17.56M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$18.75M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$6.19M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.62M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.88M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.55M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.01M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.13M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.76M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.00M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.02M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.81M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.92M	USD	1 Quarter
Unauthorized transaction related recoveries, net	`UnauthorizedTransactionRelatedCostsAndRecoveriesNet`	$-469.52K	USD	1 Quarter
Unauthorized transaction related recoveries, net	`UnauthorizedTransactionRelatedCostsAndRecoveriesNet`	$-812.34K	USD	1 Quarter
Unauthorized transaction related recoveries, net	`UnauthorizedTransactionRelatedCostsAndRecoveriesNet`	$-1.20M	USD	2 Qtrs
Unauthorized transaction related recoveries, net	`UnauthorizedTransactionRelatedCostsAndRecoveriesNet`	$-519.93K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$5.29M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.46M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$4.83M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.19M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.84M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.34M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$566.46K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.18M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$10.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest expense	`InterestExpenseRelatedToDebtAndTaxPositions`	$27.21K	USD	1 Quarter
Interest expense	`InterestExpenseRelatedToDebtAndTaxPositions`	$24.01K	USD	1 Quarter
Interest expense	`InterestExpenseRelatedToDebtAndTaxPositions`	$56.52K	USD	2 Qtrs
Interest expense	`InterestExpenseRelatedToDebtAndTaxPositions`	$64.54K	USD	2 Qtrs
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-64.54K	USD	2 Qtrs
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-24.01K	USD	1 Quarter
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-56.51K	USD	2 Qtrs
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-27.21K	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.32M	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.13M	USD	2 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$539.26K	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.77M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$489.07K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$420.26K	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$661.41K	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$200.57K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.11M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$338.69K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$704.84K	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$831.21K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.15	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.12	USD	2 Qtrs
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`	$0.12	USD	2 Qtrs
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	Point-in-time
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.06	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.11M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$338.69K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$704.84K	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$831.21K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$14.72K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$6.54K	USD	2 Qtrs
Loss on disposals of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on disposals of fixed assets	`GainLossOnDispositionOfAssets`	$-124.48K	USD	2 Qtrs
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$343.48K	USD	2 Qtrs
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$433.16K	USD	2 Qtrs
Amortization of product software development expenditures	`AmortizationOfIntangibleAssets`	-	USD	2 Qtrs
Amortization of product software development expenditures	`AmortizationOfIntangibleAssets`	$762.47K	USD	2 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$261.93K	USD	2 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$137.26K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$145.44K	USD	1 Quarter
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$293.94K	USD	2 Qtrs
Provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$787.66K	USD	2 Qtrs
Provision for deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$420.26K	USD	2 Qtrs
Change in cash surrender value of life insurance	`IncreaseDecreaseInCashSurrenderValueOfLifeInsurance`	$5.43K	USD	2 Qtrs
Change in cash surrender value of life insurance	`IncreaseDecreaseInCashSurrenderValueOfLifeInsurance`	$3.87K	USD	2 Qtrs
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$83.98K	USD	2 Qtrs
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$148.08K	USD	2 Qtrs
Net changes in operating assets and liabilities (see note 12)	`IncreaseDecreaseInOperatingCapital`	$1.16M	USD	2 Qtrs
Net changes in operating assets and liabilities (see note 12)	`IncreaseDecreaseInOperatingCapital`	$1.96M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.44M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$929.66K	USD	2 Qtrs
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$258.00K	USD	2 Qtrs
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$347.91K	USD	2 Qtrs
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$370.44K	USD	2 Qtrs
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$354.32K	USD	2 Qtrs
Product software development expenditures	`PaymentsForSoftware`	$45.16K	USD	2 Qtrs
Product software development expenditures	`PaymentsForSoftware`	$713.20K	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-657.47K	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.43M	USD	2 Qtrs
Net proceeds from line of credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$900.00K	USD	2 Qtrs
Net proceeds from line of credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.20M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$1.33M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividends`	$885.92K	USD	2 Qtrs
Net cash flows (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.07K	USD	2 Qtrs
Net cash flows (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-128.89K	USD	2 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$21.52K	USD	2 Qtrs
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$143.30K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$193.33K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$160.54K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$182.06K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.03K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$193.33K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$160.54K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$182.06K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.03K	USD	Point-in-time

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