10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0000354813-14-000010`
Period End Date	20141031
Filing Date	20141212
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	itsi-20141031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 68 Cash Flow Statement 54

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.32M	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`	$7.54M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.44M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$219.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$712.00K	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	-	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$17.00K	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$3.00K	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$3.00K	USD	Point-in-time
Inventories	`InventoryNet`	$1.40M	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.70M	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
Other current assets	`OtherAssetsCurrent`	$409.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$217.00K	USD	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
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$12.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.67M	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$612.00K	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$547.00K	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
Other noncurrent assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Total assets	`Assets`	$13.44M	USD	Point-in-time
Total assets	`Assets`	$13.26M	USD	Point-in-time
Total assets	`Assets`	$14.12M	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
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`	$397.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$839.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$442.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$640.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$188.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$97.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$152.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$152.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$41.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$248.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$470.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$463.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$10.00K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$11.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.25M	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`	$-44.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.36M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.01M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.54M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$13.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$13.26M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$8.71M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$16.02M	USD	2 Qtrs
Sales of products	`SalesRevenueGoodsNet`	$740.00K	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$3.30M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$363.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$715.00K	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$679.00K	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$259.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$3.98M	USD	2 Qtrs
Total revenues	`SalesRevenueNet`	$1.10M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$8.97M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$16.74M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$2.70M	USD	2 Qtrs
Cost of product sales	`CostOfGoodsSold`	$4.82M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$812.00K	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$10.75M	USD	2 Qtrs
Cost of services	`CostOfServices`	$182.00K	USD	2 Qtrs
Cost of services	`CostOfServices`	$238.00K	USD	2 Qtrs
Cost of services	`CostOfServices`	$107.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$79.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$2.88M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$10.98M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$891.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$4.93M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.76M	USD	2 Qtrs
Gross profit	`GrossProfit`	$212.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.09M	USD	2 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Research and development expenses	`ResearchAndDevelopmentExpense`	$162.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$312.00K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$646.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.30M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$836.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.42M	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$-521.00K	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$4.33M	USD	2 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$3.21M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-596.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	2 Qtrs
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$1.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
(Loss) income before (benefit) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.21M	USD	1 Quarter
(Loss) income before (benefit) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-596.00K	USD	1 Quarter
(Loss) income before (benefit) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-520.00K	USD	2 Qtrs
(Loss) income before (benefit) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.33M	USD	2 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	2 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.25M	USD	1 Quarter
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.70M	USD	2 Qtrs
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-3.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.63M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-523.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-593.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
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	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$2.63M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-523.00K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-593.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$1.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$95.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$49.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$54.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$113.00K	USD	2 Qtrs
Warranty (adjustment) reserve expense	`ProductWarrantyExpense`	$-63.00K	USD	2 Qtrs
Warranty (adjustment) reserve expense	`ProductWarrantyExpense`	$260.00K	USD	2 Qtrs
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-25.00K	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.52M	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.08M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-493.00K	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$17.00K	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	-	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	-	USD	2 Qtrs
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$-130.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.47M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$302.00K	USD	2 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-185.00K	USD	2 Qtrs
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$192.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$442.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.44M	USD	2 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$7.00K	USD	2 Qtrs
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-198.00K	USD	2 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-28.00K	USD	2 Qtrs
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-61.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$206.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$88.00K	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-4.20M	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-7.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-369.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-76.00K	USD	2 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	$747.00K	USD	2 Qtrs
Proceeds from redemption of certificates of deposit	`ProceedsFromSaleOfRestrictedInvestments`	-	USD	2 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.00K	USD	2 Qtrs
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$93.00K	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$654.00K	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-48.00K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-124.00K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$285.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.32M	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`	$7.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.32M	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`	$7.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.44M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$73.00K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$10.00K	USD	2 Qtrs

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