10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000354813-11-000010`
Period End Date	20110731
Filing Date	20110914
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	itsi-20110731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 28 Cash Flow Statement 48

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.36M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$250.00K	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$499.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$75.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$203.00K	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	-	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$32.00K	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20,000.00	shares	Point-in-time
Deferred cost of revenue	`DeferredCostsCurrent`	$113.00K	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20,000.00	shares	Point-in-time
Deferred cost of revenue	`DeferredCostsCurrent`	$75.00K	USD	Point-in-time
Preferred shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$907.00K	USD	Point-in-time
Inventories, net	`InventoryNet`	$436.00K	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$132.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$233.00K	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.30M	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.76M	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50,000.00	shares	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$424.00K	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50,000.00	shares	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$432.00K	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12,963.00	shares	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12,963.00	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$65.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$65.00K	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12,963.00	shares	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12,963.00	shares	Point-in-time
Total assets	`Assets`	$6.25M	USD	Point-in-time
Total assets	`Assets`	$5.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$553.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$146.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$231.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$381.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$326.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$31.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$24.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$252.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$251.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$58.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$67.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$615.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.67M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.89M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$7.00K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$12.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.69M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred shares, no par value; 20,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, no par value; 20,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common shares, no par value; 50,000 shares authorized; 12,963 shares issued and outstanding	`CommonStockValue`	$56.37M	USD	Point-in-time
Common shares, no par value; 50,000 shares authorized; 12,963 shares issued and outstanding	`CommonStockValue`	$56.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-53.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.26M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.36M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.11M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$5.79M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$6.25M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$321.00K	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$1.45M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$288.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$261.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$1.71M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$609.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$1.16M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$657.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$92.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$43.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.20M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$749.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-140.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$513.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$629.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$610.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-116.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-750.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-3.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$12.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-752.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-103.00K	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	12,963.00	shares	Point-in-time
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	12,963.00	shares	Point-in-time

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-752.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-103.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$24.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$32.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$6.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$2.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-128.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$885.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-32.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-778.00K	USD	1 Quarter
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	-	USD	1 Quarter
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$-38.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$471.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$168.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-117.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$101.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$401.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-120.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$92.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-85.00K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$55.00K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$56.00K	USD	1 Quarter
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-9.00K	USD	1 Quarter
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-12.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-3.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-13.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$862.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$154.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$119.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-64.00K	USD	1 Quarter
Purchases of certificates of deposit	`PaymentsToAcquireRestrictedCertificatesOfDeposit`	$250.00K	USD	1 Quarter
Purchases of certificates of deposit	`PaymentsToAcquireRestrictedCertificatesOfDeposit`	$747.00K	USD	1 Quarter
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$499.00K	USD	1 Quarter
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$995.00K	USD	1 Quarter
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.00K	USD	1 Quarter
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$235.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$225.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$171.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$344.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.36M	USD	Point-in-time

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