10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0000354813-12-000006`
Period End Date	20120131
Filing Date	20120313
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	itsi-20120131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 66 Cash Flow Statement 56

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`	$2.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$499.00K	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$500.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$1.11M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$203.00K	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$50.00K	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`	$32.00K	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Deferred cost of revenue	`DeferredCostsCurrent`	$3.00K	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 authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Inventories	`InventoryNet`	$436.00K	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`	$2.24M	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$277.00K	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
Total current assets	`AssetsCurrent`	$7.55M	USD	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
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$436.00K	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$432.00K	USD	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`	$16.00K	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Total assets	`Assets`	$5.79M	USD	Point-in-time
Total assets	`Assets`	$8.00M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$995.00K	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`	$231.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$883.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$326.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$455.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$31.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$146.00K	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`	$67.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$56.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$615.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.67M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$12.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.06M	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`	$-52.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.43M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.94M	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`	$8.00M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$4.39M	USD	3 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$4.03M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$6.05M	USD	3 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$1.15M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$226.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$676.00K	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$449.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$988.00K	USD	3 Qtrs
Total Revenues	`SalesRevenueNet`	$4.48M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$1.37M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$5.07M	USD	3 Qtrs
Total Revenues	`SalesRevenueNet`	$7.04M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsSold`	$3.40M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsSold`	$2.96M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$4.93M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsSold`	$1.02M	USD	1 Quarter
Cost of services	`CostOfServices`	$26.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$94.00K	USD	3 Qtrs
Cost of services	`CostOfServices`	$350.00K	USD	3 Qtrs
Cost of services	`CostOfServices`	$195.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$3.15M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$5.28M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$1.05M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$3.50M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.57M	USD	3 Qtrs
Gross profit	`GrossProfit`	$323.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.75M	USD	3 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	3 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$31.00K	USD	3 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	$7.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.80M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$576.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.90M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$596.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-171.00K	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-253.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$725.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-232.00K	USD	3 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.00K	USD	3 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$2.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$5.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$12.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-215.00K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-170.00K	USD	3 Qtrs
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-251.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$725.00K	USD	1 Quarter
Provision for (benefit of) income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for (benefit of) income taxes	`IncomeTaxExpenseBenefit`	$-10.00K	USD	1 Quarter
Provision for (benefit of) income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for (benefit of) income taxes	`IncomeTaxExpenseBenefit`	$-10.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-170.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-241.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-205.00K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$725.00K	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	3 Qtrs
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	1 Quarter
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 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-170.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-241.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-205.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$725.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$87.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$102.00K	USD	3 Qtrs
Warranty reserve expense	`ProductWarrantyExpense`	$21.00K	USD	3 Qtrs
Warranty reserve expense	`ProductWarrantyExpense`	$131.00K	USD	3 Qtrs
Write-off of patent	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	3 Qtrs
Write-off of patent	`ImpairmentOfIntangibleAssetsFinitelived`	$12.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$383.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$906.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-804.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$18.00K	USD	3 Qtrs
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$-110.00K	USD	3 Qtrs
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$63.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.80M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-222.00K	USD	3 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$96.00K	USD	3 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-62.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$843.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-323.00K	USD	3 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$652.00K	USD	3 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-49.00K	USD	3 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$129.00K	USD	3 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$89.00K	USD	3 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-34.00K	USD	3 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-16.00K	USD	3 Qtrs
Payable to Parent	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	3 Qtrs
Payable to Parent	`IncreaseDecreaseInDueToAffiliatesCurrent`	$1.00K	USD	3 Qtrs
Other current and long-term liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$21.00K	USD	3 Qtrs
Other current and long-term liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-23.00K	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$660.00K	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$141.00K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-404.00K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$402.00K	USD	3 Qtrs
Purchases of certificates of deposit	`PaymentsToAcquireRestrictedCertificatesOfDeposit`	$997.00K	USD	3 Qtrs
Purchases of certificates of deposit	`PaymentsToAcquireRestrictedCertificatesOfDeposit`	$500.00K	USD	3 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$1.50M	USD	3 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$499.00K	USD	3 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$150.00K	USD	3 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$106.00K	USD	3 Qtrs
Additions to patent	`PaymentsToAcquireIntangibleAssets`	$2.00K	USD	3 Qtrs
Additions to patent	`PaymentsToAcquireIntangibleAssets`	-	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-107.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$346.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$748.00K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-511.00K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.37M	USD	Point-in-time
Cash and cash equivalents at beginning 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`	$3.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time

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