10-Q Filing

DIGI INTERNATIONAL INC CIK: 854775 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000854775-13-000004`
Period End Date	20121231
Filing Date	20130201
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	dgii-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 89 Income Statement 38 Cash Flow Statement 60 Comprehensive Income 16

Balance Sheet 89 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.25M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$49.51M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$58.37M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.01M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$24.70M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$24.63M	USD	Point-in-time
Inventories	`InventoryNet`	$25.36M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.78M	shares	Point-in-time
Inventories	`InventoryNet`	$24.43M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.36M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$3.45M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$3.39M	USD	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$2.49M	USD	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$3.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$158.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$173.57M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesNoncurrent`	$3.28M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesNoncurrent`	$2.02M	USD	Point-in-time
Property, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$15.16M	USD	Point-in-time
Property, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$15.53M	USD	Point-in-time
Identifiable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$10.63M	USD	Point-in-time
Identifiable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$13.02M	USD	Point-in-time
Goodwill	`Goodwill`	$86.01M	USD	Point-in-time
Goodwill	`Goodwill`	$85.61M	USD	Point-in-time
Goodwill	`Goodwill`	$86.21M	USD	Point-in-time
Goodwill	`Goodwill`	$103.39M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.01M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.16M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$498.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$494.00K	USD	Point-in-time
Total assets	`Assets`	$293.08M	USD	Point-in-time
Total assets	`Assets`	$298.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.04M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.27M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$5.74M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$5.78M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$935.00K	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.02M	USD	Point-in-time
Accrued professional fees	`AccruedProfessionalFeesCurrent`	$695.00K	USD	Point-in-time
Accrued professional fees	`AccruedProfessionalFeesCurrent`	$986.00K	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$3.42M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$2.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$3.13M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$3.29M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$630.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$576.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$107.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$111.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.81M	USD	Point-in-time
Contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value; 2,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; 2,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value; 60,000,000 shares authorized; 30,012,791 and 29,268,788 shares issued	`CommonStockValue`	$300.00K	USD	Point-in-time
Common stock, $.01 par value; 60,000,000 shares authorized; 30,012,791 and 29,268,788 shares issued	`CommonStockValue`	$293.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$207.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$199.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$111.51M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$110.28M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.01M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.72M	USD	Point-in-time
Treasury stock, at cost, 3,783,529 and 3,356,453 shares	`TreasuryStockValue`	$25.49M	USD	Point-in-time
Treasury stock, at cost, 3,783,529 and 3,356,453 shares	`TreasuryStockValue`	$29.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$265.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$270.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$275.67M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$293.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$298.48M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$46.99M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$46.66M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$22.51M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$22.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.43M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$10.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$10.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$8.23M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$7.42M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.05M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.12M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$236.00K	USD	1 Quarter
Restructuring	`RestructuringCharges`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.61M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.67M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$816.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$72.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$147.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$124.00K	USD	1 Quarter
Total other income, net	`OtherIncomeNet`	$219.00K	USD	1 Quarter
Total other income, net	`OtherIncomeNet`	$176.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.03M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.85M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$311.00K	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$618.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$724.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.19M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	25.64M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.43M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.14M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$724.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Depreciation of property, equipment and improvements	`Depreciation`	$784.00K	USD	1 Quarter
Depreciation of property, equipment and improvements	`Depreciation`	$848.00K	USD	1 Quarter
Amortization of identifiable intangible assets	`AmortizationOfIntangibleAssets`	$1.07M	USD	1 Quarter
Amortization of identifiable intangible assets	`AmortizationOfIntangibleAssets`	$1.25M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$955.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$931.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$28.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$13.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-583.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-542.00K	USD	1 Quarter
Bad debt/product return provision	`ProvisionForDoubtfulAccounts`	$323.00K	USD	1 Quarter
Bad debt/product return provision	`ProvisionForDoubtfulAccounts`	$221.00K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$250.00K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$476.00K	USD	1 Quarter
Restructuring	`RestructuringCostsAndAssetImpairmentCharges`	$236.00K	USD	1 Quarter
Restructuring	`RestructuringCostsAndAssetImpairmentCharges`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-38.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$274.00K	USD	1 Quarter
Changes in operating assets and liabilities (net of acquisition)	`IncreaseDecreaseInOperatingCapital`	$3.61M	USD	1 Quarter
Changes in operating assets and liabilities (net of acquisition)	`IncreaseDecreaseInOperatingCapital`	$1.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.29M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$242.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$9.87M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$22.79M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$12.30M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$17.47M	USD	1 Quarter
Proceeds from sale of investment	`ProceedsFromSaleOfInvestmentProjects`	$135.00K	USD	1 Quarter
Proceeds from sale of investment	`ProceedsFromSaleOfInvestmentProjects`	-	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$12.92M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchase of property, equipment, improvements and certain other intangible assets	`PaymentsToAcquireProductiveAssets`	$1.62M	USD	1 Quarter
Purchase of property, equipment, improvements and certain other intangible assets	`PaymentsToAcquireProductiveAssets`	$1.43M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.98M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.75M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$13.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$28.00K	USD	1 Quarter
Proceeds from stock option plan transactions	`ProceedsFromStockOptionsExercised`	$169.00K	USD	1 Quarter
Proceeds from stock option plan transactions	`ProceedsFromStockOptionsExercised`	$150.00K	USD	1 Quarter
Proceeds from employee stock purchase plan transactions	`ProceedsFromStockPlans`	$314.00K	USD	1 Quarter
Proceeds from employee stock purchase plan transactions	`ProceedsFromStockPlans`	$248.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$4.23M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.78M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$477.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-855.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.24M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.12M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.25M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.68M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.57M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.25M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.57M	USD	Point-in-time
Issuance of common stock for business acquisition	`NoncashOrPartNoncashAcquisitionNonCashFinancialOrEquityInterestConsiderationValueOfStockGiven`	$-6.80M	USD	1 Quarter
Issuance of common stock for business acquisition	`NoncashOrPartNoncashAcquisitionNonCashFinancialOrEquityInterestConsiderationValueOfStockGiven`	-	USD	1 Quarter

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net unrealized gain on investments, net of related tax effect of ($1) and ($9), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-1.00K	USD	1 Quarter
Net unrealized gain on investments, net of related tax effect of ($1) and ($9), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-9.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$724.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Reclassification of realized loss included in net income, net of related tax effect of ($0) and ($5), respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax`	-	USD	1 Quarter
Reclassification of realized loss included in net income, net of related tax effect of ($0) and ($5), respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax`	$-5.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-289.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.78M	USD	1 Quarter
Net unrealized gain on investments, net of related tax effect of ($1) and ($9), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Net unrealized gain on investments, net of related tax effect of ($1) and ($9), respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$14.00K	USD	1 Quarter
Reclassification of realized loss included in net income, net of related tax effect of ($0) and ($5), respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	-	USD	1 Quarter
Reclassification of realized loss included in net income, net of related tax effect of ($0) and ($5), respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$7.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-288.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.76M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$942.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.04M	USD	1 Quarter

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