10-Q Filing

DIGI INTERNATIONAL INC CIK: 854775 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000854775-14-000006`
Period End Date	20131231
Filing Date	20140203
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	dgii-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 46 Cash Flow Statement 58 Comprehensive Income 12

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (USD per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (USD per share)	`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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.01M	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.32M	USD	Point-in-time
Common stock, par value (USD per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$47.34M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$47.01M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$26.83M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$23.79M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.57M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.26M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.67M	shares	Point-in-time
Inventories	`InventoryNet`	$30.48M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.71M	shares	Point-in-time
Inventories	`InventoryNet`	$26.14M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$3.50M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$3.17M	USD	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$5.15M	USD	Point-in-time
Other	`PrepaidExpenseAndOtherAssetsCurrent`	$4.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$160.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$149.30M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$9.98M	USD	Point-in-time
Marketable securities, long-term	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$17.39M	USD	Point-in-time
Property, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$13.91M	USD	Point-in-time
Property, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$13.87M	USD	Point-in-time
Identifiable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$9.73M	USD	Point-in-time
Identifiable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$9.05M	USD	Point-in-time
Goodwill	`Goodwill`	$86.21M	USD	Point-in-time
Goodwill	`Goodwill`	$103.57M	USD	Point-in-time
Goodwill	`Goodwill`	$103.92M	USD	Point-in-time
Goodwill	`Goodwill`	$103.39M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.83M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.95M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$244.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$221.00K	USD	Point-in-time
Total assets	`Assets`	$299.95M	USD	Point-in-time
Total assets	`Assets`	$303.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.91M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$6.49M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$7.41M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.06M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.01M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$3.15M	USD	Point-in-time
Other	`OtherLiabilitiesCurrent`	$3.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.70M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$3.62M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$3.90M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$376.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$415.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$114.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$79.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$25.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.81M	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; 30,565,685 and 30,264,224 shares issued	`CommonStockValue`	$306.00K	USD	Point-in-time
Common stock, $.01 par value; 60,000,000 shares authorized; 30,565,685 and 30,264,224 shares issued	`CommonStockValue`	$303.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$215.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$211.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$116.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$116.09M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.22M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.59M	USD	Point-in-time
Treasury stock, at cost, 4,673,917 and 4,708,965 shares	`TreasuryStockValue`	$38.23M	USD	Point-in-time
Treasury stock, at cost, 4,673,917 and 4,708,965 shares	`TreasuryStockValue`	$38.52M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$278.93M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$272.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$274.27M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$303.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$299.95M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Hardware product revenue	`SalesRevenueGoodsNet`	$43.04M	USD	1 Quarter
Hardware product revenue	`SalesRevenueGoodsNet`	$41.99M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$3.95M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$5.33M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$47.32M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$46.99M	USD	1 Quarter
Cost of hardware product	`CostOfGoodsSold`	$20.13M	USD	1 Quarter
Cost of hardware product	`CostOfGoodsSold`	$20.26M	USD	1 Quarter
Cost of service	`CostOfServices`	$4.15M	USD	1 Quarter
Cost of service	`CostOfServices`	$2.39M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$22.51M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$24.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$24.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$22.91M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$10.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$10.22M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$7.26M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$7.42M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.12M	USD	1 Quarter
Restructuring charges, net	`RestructuringChargeNet`	$81.00K	USD	1 Quarter
Restructuring charges, net	`RestructuringChargeNet`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$628.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.67M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$43.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$93.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$124.00K	USD	1 Quarter
Total other income, net	`OtherIncomeNet`	$136.00K	USD	1 Quarter
Total other income, net	`OtherIncomeNet`	$176.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.85M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$764.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$618.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$76.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$688.00K	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (USD per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted (USD per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted (USD per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.19M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.72M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.23M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.43M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$688.00K	USD	1 Quarter
Depreciation of property, equipment and improvements	`Depreciation`	$848.00K	USD	1 Quarter
Depreciation of property, equipment and improvements	`Depreciation`	$897.00K	USD	1 Quarter
Amortization of identifiable intangible assets	`AmortizationOfIntangibleAssets`	$952.00K	USD	1 Quarter
Amortization of identifiable intangible assets	`AmortizationOfIntangibleAssets`	$1.07M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$955.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.02M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$20.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$28.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-506.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-542.00K	USD	1 Quarter
Bad debt/product return provision	`ProvisionForDoubtfulAccounts`	$221.00K	USD	1 Quarter
Bad debt/product return provision	`ProvisionForDoubtfulAccounts`	$22.00K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$229.00K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$250.00K	USD	1 Quarter
Restructuring charges, net	`RestructuringChargeNet`	$81.00K	USD	1 Quarter
Restructuring charges, net	`RestructuringChargeNet`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-102.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-38.00K	USD	1 Quarter
Changes in operating assets and liabilities (net of acquisition)	`IncreaseDecreaseInOperatingCapital`	$3.81M	USD	1 Quarter
Changes in operating assets and liabilities (net of acquisition)	`IncreaseDecreaseInOperatingCapital`	$1.75M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-337.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.29M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$9.87M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$17.47M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$7.11M	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`	$975.00K	USD	1 Quarter
Purchase of property, equipment, improvements and certain other intangible assets	`PaymentsToAcquireProductiveAssets`	$1.43M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.13M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.75M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$20.00K	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`	$2.81M	USD	1 Quarter
Proceeds from employee stock purchase plan transactions	`ProceedsFromStockPlans`	$296.00K	USD	1 Quarter
Proceeds from employee stock purchase plan transactions	`ProceedsFromStockPlans`	$248.00K	USD	1 Quarter
Purchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.23M	USD	1 Quarter
Purchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.13M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.78M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$224.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.24M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.15M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.25M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.47M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$41.32M	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`	$52.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.47M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$41.32M	USD	Point-in-time
Issuance of common stock for business acquisition	`StockIssued1`	-	USD	1 Quarter
Issuance of common stock for business acquisition	`StockIssued1`	$6.80M	USD	1 Quarter

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$688.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$343.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-289.00K	USD	1 Quarter
Change in net unrealized gain on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$2.00K	USD	1 Quarter
Change in net unrealized gain on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$38.00K	USD	1 Quarter
Less income tax provision	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$1.00K	USD	1 Quarter
Less income tax provision	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$15.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-288.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$366.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$942.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.05M	USD	1 Quarter

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