10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000354813-13-000016`
Period End Date	20130731
Filing Date	20130911
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	itsi-20130731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 30 Cash Flow Statement 50

Balance Sheet 69 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`	$6.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$1.25M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$1.25M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$2.05M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$1.78M	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$132.00K	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$191.00K	USD	Point-in-time
Inventories	`InventoryNet`	$3.67M	USD	Point-in-time
Inventories	`InventoryNet`	$3.04M	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$1.15M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$1.55M	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
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$198.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$298.00K	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
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.21M	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$573.00K	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$581.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$52.00K	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Total assets	`Assets`	$14.87M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Total assets	`Assets`	$8.12M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Total assets	`Assets`	$16.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.18M	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$441.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$384.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$256.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$139.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$202.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$202.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$38.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$68.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$3.73M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$5.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.76M	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`	$-47.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.26M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$9.11M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$8.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$14.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.83M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$3.01M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$7.31M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$277.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$456.00K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$7.77M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$3.29M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$5.93M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$1.72M	USD	1 Quarter
Cost of services	`CostOfServices`	$75.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$131.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$6.06M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.71M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$579.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$588.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$919.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.12M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.12M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$919.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$452.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$670.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$916.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$670.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$916.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$46.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$41.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$171.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$65.00K	USD	1 Quarter
Loss on disposal of construction in progress	`GainLossOnDispositionOfProperty`	-	USD	1 Quarter
Loss on disposal of construction in progress	`GainLossOnDispositionOfProperty`	$25.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$405.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$168.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-276.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$957.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	-	USD	1 Quarter
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$59.00K	USD	1 Quarter
Deferred cost of revenue	`IncreaseDecreaseInDeferredCharges`	$-3.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-621.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-550.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-101.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-111.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-799.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.11M	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$54.00K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$57.00K	USD	1 Quarter
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-54.00K	USD	1 Quarter
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-60.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$30.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-30.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-11.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.72M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-285.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-546.00K	USD	1 Quarter
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	-	USD	1 Quarter
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$250.00K	USD	1 Quarter
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$79.00K	USD	1 Quarter
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$64.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$186.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-79.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-625.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-99.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$25.00K	USD	1 Quarter

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