10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0000354813-13-000018`
Period End Date	20131031
Filing Date	20131212
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	itsi-20131031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 60 Cash Flow Statement 56

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`	$7.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.45M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$498.00K	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`	$3.14M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$2.05M	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
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$2.00K	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
Inventories	`InventoryNet`	$2.20M	USD	Point-in-time
Inventories	`InventoryNet`	$3.67M	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
Deferred income taxes	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$1.55M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$34.00K	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$115.00K	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
Total current assets	`AssetsCurrent`	$13.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.21M	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
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
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$573.00K	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$546.00K	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
Other noncurrent assets	`OtherAssetsNoncurrent`	$51.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Total assets	`Assets`	$14.12M	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
Total assets	`Assets`	$8.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$742.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.18M	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$391.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$384.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$139.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$338.00K	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`	$126.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$38.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.25M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$5.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.39M	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`	$-45.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.93M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$8.44M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.07M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.83M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$14.12M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$16.02M	USD	2 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$5.06M	USD	2 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$8.71M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$2.05M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$259.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$627.00K	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$715.00K	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$350.00K	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$8.97M	USD	1 Quarter
Total Revenues	`SalesRevenueNet`	$5.69M	USD	2 Qtrs
Total Revenues	`SalesRevenueNet`	$16.74M	USD	2 Qtrs
Total Revenues	`SalesRevenueNet`	$2.40M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$10.75M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$1.13M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$2.85M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$4.82M	USD	1 Quarter
Cost of services	`CostOfServices`	$128.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$238.00K	USD	2 Qtrs
Cost of services	`CostOfServices`	$107.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$203.00K	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$4.93M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$10.98M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$1.26M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$3.05M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.76M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.63M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.05M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.42M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$644.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.22M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$836.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.21M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.33M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.41M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$492.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	2 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	2 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$492.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.33M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.41M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.21M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$20.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.70M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$23.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.25M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.39M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$472.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.63M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.39M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$472.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.63M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$95.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$87.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$46.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$73.00K	USD	2 Qtrs
Warranty reserve expense	`ProductWarrantyExpense`	$260.00K	USD	2 Qtrs
Loss on disposal of equipment	`GainLossOnDispositionOfProperty`	$-25.00K	USD	2 Qtrs
Loss on disposal of equipment	`GainLossOnDispositionOfProperty`	-	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.52M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.19M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.08M	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	-	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-726.00K	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$8.00K	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-130.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.12M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.47M	USD	2 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-41.00K	USD	2 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-185.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-907.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.44M	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	-	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$453.00K	USD	2 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.00K	USD	2 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$7.00K	USD	2 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-131.00K	USD	2 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-61.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-29.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$88.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-36.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-4.20M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-369.00K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$593.00K	USD	2 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$747.00K	USD	2 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$250.00K	USD	2 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$175.00K	USD	2 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$93.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$75.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$654.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$285.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$668.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.45M	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`	$2.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.45M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$37.00K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$73.00K	USD	2 Qtrs

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