10-Q Filing

KOSS CORP CIK: 56701 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000056701-17-000044`
Period End Date	20170930
Filing Date	20171027
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	koss-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 22 Cash Flow Statement 36

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$55.87K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$53.63K	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`	$432.28K	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`	$459.92K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$241.15K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$735.39K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $53,626 and $55,872, respectively	`AccountsReceivableNetCurrent`	$3.97M	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 $53,626 and $55,872, respectively	`AccountsReceivableNetCurrent`	$3.93M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	Point-in-time
Inventories	`InventoryNet`	$8.37M	USD	Point-in-time
Inventories	`InventoryNet`	$8.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.38M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$332.63K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$206.40K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$67.61K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$32.81K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.95M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.43M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.41M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.04M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$2.99M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$6.33M	USD	Point-in-time
Cash surrender value of life insurance	`CashSurrenderValueOfLifeInsurance`	$6.02M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$9.32M	USD	Point-in-time
Total other assets	`OtherAssetsNoncurrent`	$9.07M	USD	Point-in-time
Total assets	`Assets`	$23.42M	USD	Point-in-time
Total assets	`Assets`	$23.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.43M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.16M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.59M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.30M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.29M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$164.42K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$163.00K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.46M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.05M	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`	$5.50M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$5.42M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$17.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.73M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.42M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$6.35M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$6.07M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.39M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.67M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.65M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.78M	USD	1 Quarter
Unauthorized transaction related (recoveries) costs, net	`UnauthorizedTransactionRelatedCostsRecoveriesNet`	$37.50K	USD	1 Quarter
Unauthorized transaction related (recoveries) costs, net	`UnauthorizedTransactionRelatedCostsRecoveriesNet`	$-14.41K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.69K	USD	1 Quarter
Interest expense	`InterestExpense`	$846.00	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$128.14K	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.97K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$43.93K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$20.46K	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$84.21K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$84.21K	USD	1 Quarter
(Recovery of) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$705.00	USD	1 Quarter
(Recovery of) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-3.65K	USD	1 Quarter
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$123.84K	USD	1 Quarter
Depreciation of equipment and leasehold improvements	`DepreciationDepletionAndAmortization`	$131.36K	USD	1 Quarter
Stock-based compensation expense	`StockOptionPlanExpense`	$88.52K	USD	1 Quarter
Stock-based compensation expense	`StockOptionPlanExpense`	$83.04K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$66.99K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$55.26K	USD	1 Quarter
Change in cash surrender value of life insurance	`LifeInsuranceCorporateOrBankOwnedChangeInValue`	$172.38K	USD	1 Quarter
Change in cash surrender value of life insurance	`LifeInsuranceCorporateOrBankOwnedChangeInValue`	$181.18K	USD	1 Quarter
Change in deferred compensation accrual	`IncreaseDecreaseInDeferredCompensation`	$45.91K	USD	1 Quarter
Change in deferred compensation accrual	`IncreaseDecreaseInDeferredCompensation`	$38.78K	USD	1 Quarter
Deferred compensation paid	`DeferredCompensationArrangementWithIndividualDistributionPaid`	$37.50K	USD	1 Quarter
Deferred compensation paid	`DeferredCompensationArrangementWithIndividualDistributionPaid`	$37.50K	USD	1 Quarter
Net changes in operating assets and liabilities (see note 10)	`IncreaseDecreaseInOperatingCapital`	$121.92K	USD	1 Quarter
Net changes in operating assets and liabilities (see note 10)	`IncreaseDecreaseInOperatingCapital`	$22.69K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$62.45K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$96.84K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$206.31K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$157.24K	USD	1 Quarter
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$131.61K	USD	1 Quarter
Life insurance premiums paid	`PaymentsToAcquireLifeInsurancePolicies`	$130.74K	USD	1 Quarter
Cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-287.98K	USD	1 Quarter
Cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-337.92K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-191.13K	USD	1 Quarter
Net (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-275.47K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$432.28K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$459.92K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$241.15K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$735.39K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$432.28K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$459.92K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$241.15K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$735.39K	USD	Point-in-time

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