10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0000354813-11-000014`
Period End Date	20111031
Filing Date	20111214
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	itsi-20111031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 58 Cash Flow Statement 52

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$500.00K	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`	$203.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$1.02M	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
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
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred cost of revenue	`DeferredCostsCurrent`	$376.00K	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred cost of revenue	`DeferredCostsCurrent`	$113.00K	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	`InventoryNet`	$436.00K	USD	Point-in-time
Inventories	`InventoryNet`	$1.72M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$132.00K	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$317.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.47M	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$430.00K	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$432.00K	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$65.00K	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$65.00K	USD	Point-in-time
Total assets	`Assets`	$5.79M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Total assets	`Assets`	$6.97M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$964.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$89.00K	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`	$369.00K	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`	$26.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$251.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$252.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$60.00K	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`	$2.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.67M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.75M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$12.00K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$2.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.76M	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`	$-53.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.26M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.11M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.21M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$6.97M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$5.79M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$1.79M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$2.01M	USD	2 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$1.69M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$3.24M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$539.00K	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$450.00K	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$251.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$189.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$1.98M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$1.94M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$3.69M	USD	2 Qtrs
Total revenues	`SalesRevenueNet`	$2.55M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$2.38M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$1.97M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$1.31M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$1.22M	USD	1 Quarter
Cost of services	`CostOfServices`	$25.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$63.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$68.00K	USD	2 Qtrs
Cost of services	`CostOfServices`	$155.00K	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$2.45M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$2.13M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$1.38M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$427.00K	USD	2 Qtrs
Gross profit	`GrossProfit`	$735.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.25M	USD	2 Qtrs
Gross profit	`GrossProfit`	$567.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$24.00K	USD	2 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	$24.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$598.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.23M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.30M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$689.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$21.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-896.00K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-146.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$137.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$3.00K	USD	2 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$12.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-143.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-895.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$36.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$139.00K	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	2 Qtrs
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	12.96M	shares	Point-in-time
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	12.96M	shares	Point-in-time

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-143.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-895.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$36.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$139.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.00K	USD	2 Qtrs
Warranty reserve expense	`ProductWarrantyExpense`	$7.00K	USD	2 Qtrs
Warranty reserve expense	`ProductWarrantyExpense`	$7.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$496.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$821.00K	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-804.00K	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-32.00K	USD	2 Qtrs
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$64.00K	USD	2 Qtrs
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$263.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-224.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.29M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$185.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-84.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$812.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-462.00K	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-142.00K	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$563.00K	USD	2 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$13.00K	USD	2 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$43.00K	USD	2 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-32.00K	USD	2 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-12.00K	USD	2 Qtrs
Payable to Parent	`IncreaseDecreaseInDueToAffiliatesCurrent`	$1.00K	USD	2 Qtrs
Payable to Parent	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	2 Qtrs
Other current and long-term liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$5.00K	USD	2 Qtrs
Other current and long-term liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-17.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-384.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$1.38M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.28M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$354.00K	USD	2 Qtrs
Purchases of certificates of deposit	`PaymentsToAcquireRestrictedCertificatesOfDeposit`	$500.00K	USD	2 Qtrs
Purchases of certificates of deposit	`PaymentsToAcquireRestrictedCertificatesOfDeposit`	$997.00K	USD	2 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$1.50M	USD	2 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$499.00K	USD	2 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$64.00K	USD	2 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$150.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-65.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$348.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.34M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$702.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.54M	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`	$2.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.54M	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`	$2.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time

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