10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0000354813-14-000002`
Period End Date	20140131
Filing Date	20140313
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	itsi-20140131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 60 Cash Flow Statement 54

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
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`	$11.61M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.55M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$1.25M	USD	Point-in-time
Certificates of deposit	`CertificatesOfDepositAtCarryingValue`	$249.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$626.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$2.05M	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`	$1.00K	USD	Point-in-time
Inventories	`InventoryNet`	$1.43M	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Inventories	`InventoryNet`	$3.67M	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	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
Preferred shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherAssetsCurrent`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$181.00K	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	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`	$14.10M	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	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
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$541.00K	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
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$573.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$49.00K	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`	$53.00K	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
Total assets	`Assets`	$10.16M	USD	Point-in-time
Total assets	`Assets`	$14.69M	USD	Point-in-time
Total assets	`Assets`	$16.83M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$791.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.18M	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$321.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$384.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$218.00K	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`	$334.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$38.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$785.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$5.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.39M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$12.00K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$2.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$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`	$-47.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$12.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$8.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$16.83M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$14.69M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$19.72M	USD	3 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$3.70M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$1.71M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$6.77M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$1.01M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$924.00K	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$297.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$298.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$7.69M	USD	3 Qtrs
Total revenues	`SalesRevenueNet`	$2.01M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$4.00M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$20.74M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsSold`	$4.22M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsSold`	$1.37M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$12.83M	USD	3 Qtrs
Cost of product sales	`CostOfGoodsSold`	$2.08M	USD	1 Quarter
Cost of services	`CostOfServices`	$314.00K	USD	3 Qtrs
Cost of services	`CostOfServices`	$76.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$349.00K	USD	3 Qtrs
Cost of services	`CostOfServices`	$146.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.52M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$2.16M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$4.57M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$13.14M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$488.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$7.59M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.12M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$688.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$580.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.11M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.80M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$1.15M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-92.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$5.48M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$1.32M	USD	3 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	3 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.32M	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-92.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.15M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.48M	USD	3 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$1.90M	USD	3 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$20.00K	USD	3 Qtrs
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$200.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-3.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$950.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.30M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-89.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$3.58M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.27	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$950.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.30M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-89.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.58M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$46.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$133.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$139.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$44.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$170.00K	USD	3 Qtrs
Warranty reserve expense	`ProductWarrantyExpense`	$75.00K	USD	3 Qtrs
Loss on disposal of equipment	`GainLossOnDispositionOfProperty`	$-25.00K	USD	3 Qtrs
Loss on disposal of equipment	`GainLossOnDispositionOfProperty`	-	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.55M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$116.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.43M	USD	3 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	-	USD	3 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-666.00K	USD	3 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-131.00K	USD	3 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-3.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-2.23M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.09M	USD	3 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-121.00K	USD	3 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$215.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.39M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-845.00K	USD	3 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$94.00K	USD	3 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-63.00K	USD	3 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-91.00K	USD	3 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-137.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$308.00K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-33.00K	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$1.72M	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-4.67M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.73M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.49M	USD	3 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$996.00K	USD	3 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$250.00K	USD	3 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$217.00K	USD	3 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$132.00K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$864.00K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$33.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.35M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.77M	USD	3 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`	$11.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.55M	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`	$11.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.55M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$243.00K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$43.00K	USD	3 Qtrs

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