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10-Q Filing

KEY TECHNOLOGY INC CIK: 906193 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0000906193-16-000058
Period End Date 20151231
Filing Date 20160205
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance ktec-20151231.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Trade accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $252.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.73M USD Point-in-time
Trade accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $261.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.78M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.74M USD Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $252 and $261, respectively AccountsReceivableNetCurrent $14.84M USD Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $252 and $261, respectively AccountsReceivableNetCurrent $14.32M USD Point-in-time
Raw materials InventoryRawMaterialsNetOfReserves $13.88M USD Point-in-time
Raw materials InventoryRawMaterialsNetOfReserves $14.29M USD Point-in-time
Work-in-process and sub-assemblies InventoryWorkInProcessNetOfReserves $9.77M USD Point-in-time
Work-in-process and sub-assemblies InventoryWorkInProcessNetOfReserves $11.47M USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $7.24M USD Point-in-time
Finished goods InventoryFinishedGoodsNetOfReserves $7.19M USD Point-in-time
Total inventories InventoryNet $32.54M USD Point-in-time
Total inventories InventoryNet $31.30M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $3.97M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetCurrent $3.84M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseCurrent $4.12M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseCurrent $4.11M USD Point-in-time
Total current assets AssetsCurrent $61.94M USD Point-in-time
Total current assets AssetsCurrent $61.20M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $14.06M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $14.80M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $2.92M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $3.77M USD Point-in-time
Goodwill Goodwill $9.97M USD Point-in-time
Goodwill Goodwill $10.22M USD Point-in-time
Investment in Proditec CostMethodInvestments $1.13M USD Point-in-time
Investment in Proditec CostMethodInvestments $1.13M USD Point-in-time
Intangibles and other assets, net IntangibleAssetsNetExcludingGoodwill $6.54M USD Point-in-time
Intangibles and other assets, net IntangibleAssetsNetExcludingGoodwill $6.00M USD Point-in-time
Total Assets $96.13M USD Point-in-time
Total Assets $97.55M USD Point-in-time
Accounts payable AccountsPayableCurrent $10.80M USD Point-in-time
Accounts payable AccountsPayableCurrent $8.86M USD Point-in-time
Accrued payroll liabilities and commissions EmployeeRelatedLiabilitiesCurrent $5.42M USD Point-in-time
Accrued payroll liabilities and commissions EmployeeRelatedLiabilitiesCurrent $5.45M USD Point-in-time
Customers' deposits CustomerDepositsCurrent $4.71M USD Point-in-time
Customers' deposits CustomerDepositsCurrent $7.83M USD Point-in-time
Accrued customer support and warranty costs AccruedCustomerSupportAndWarrantyCosts $2.46M USD Point-in-time
Accrued customer support and warranty costs AccruedCustomerSupportAndWarrantyCosts $2.62M USD Point-in-time
Customer purchase plans CustomerPurchasePlansDiscounts $1.60M USD Point-in-time
Customer purchase plans CustomerPurchasePlansDiscounts $1.51M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent - USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $2.00K USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $705.00K USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $679.00K USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrent $1.26M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrent $1.31M USD Point-in-time
Total current liabilities LiabilitiesCurrent $27.11M USD Point-in-time
Total current liabilities LiabilitiesCurrent $28.11M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $5.15M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.98M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.96M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $2.14M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $357.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $408.00K USD Point-in-time
Common stock CommonStockValue $32.68M USD Point-in-time
Common stock CommonStockValue $32.75M USD Point-in-time
Warrants WarrantsAndRightsOutstanding $665.00K USD Point-in-time
Warrants WarrantsAndRightsOutstanding $665.00K USD Point-in-time
Retained earnings and other shareholders' equity RetainedEarningsAndOtherShareholdersEquity $27.30M USD Point-in-time
Retained earnings and other shareholders' equity RetainedEarningsAndOtherShareholdersEquity $29.40M USD Point-in-time
Total shareholders' equity StockholdersEquity $60.72M USD Point-in-time
Total shareholders' equity StockholdersEquity $62.74M USD Point-in-time
Total LiabilitiesAndStockholdersEquity $97.55M USD Point-in-time
Total LiabilitiesAndStockholdersEquity $96.13M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales SalesRevenueNet $20.09M USD 1 Quarter
Net sales SalesRevenueNet $24.80M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $14.62M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $17.82M USD 1 Quarter
Gross profit GrossProfit $5.48M USD 1 Quarter
Gross profit GrossProfit $6.98M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $4.07M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $4.07M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $2.28M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $2.12M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.10M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.69M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $349.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $402.00K USD 1 Quarter
Total operating expenses OperatingExpenses $8.70M USD 1 Quarter
Total operating expenses OperatingExpenses $9.38M USD 1 Quarter
Gain on disposition of assets GainLossOnDispositionOfAssets $4.00K USD 1 Quarter
Gain on disposition of assets GainLossOnDispositionOfAssets $8.00K USD 1 Quarter
Loss from operations OperatingIncomeLoss $-3.22M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-2.40M USD 1 Quarter
Other income (expense) NonoperatingIncomeExpense $-10.00K USD 1 Quarter
Other income (expense) NonoperatingIncomeExpense $-339.00K USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-3.23M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-2.73M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-1.40M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-1.03M USD 1 Quarter
Net loss NetIncomeLoss $-1.83M USD 1 Quarter
Net loss NetIncomeLoss $-1.70M USD 1 Quarter
- basic (in dollars per share) EarningsPerShareBasic $-0.27 USD 1 Quarter
- basic (in dollars per share) EarningsPerShareBasic $-0.29 USD 1 Quarter
- diluted (in dollars per share) EarningsPerShareDiluted $-0.27 USD 1 Quarter
- diluted (in dollars per share) EarningsPerShareDiluted $-0.29 USD 1 Quarter
Shares used in per share calculations - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 6.26M shares 1 Quarter
Shares used in per share calculations - basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 6.29M shares 1 Quarter
Shares used in per share calculations - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 6.26M shares 1 Quarter
Shares used in per share calculations - diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 6.29M shares 1 Quarter
Cash Flow Statement 78 line items
Line Item Tag Value Unit Period
Net earnings (loss) NetIncomeLoss $-1.83M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-1.70M USD 1 Quarter
Gain on disposition of assets GainLossOnDispositionOfAssets $4.00K USD 1 Quarter
Gain on disposition of assets GainLossOnDispositionOfAssets $8.00K USD 1 Quarter
Foreign currency exchange (gain) loss ForeignCurrencyTransactionGainLossUnrealized $-188.00K USD 1 Quarter
Foreign currency exchange (gain) loss ForeignCurrencyTransactionGainLossUnrealized $18.00K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.31M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.33M USD 1 Quarter
Share based payments ShareBasedCompensation $326.00K USD 1 Quarter
Share based payments ShareBasedCompensation $356.00K USD 1 Quarter
Reclassification from other comprehensive income OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax - USD 1 Quarter
Reclassification from other comprehensive income OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-6.00K USD 1 Quarter
Excess tax benefits from share based payments ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $4.00K USD 1 Quarter
Excess tax benefits from share based payments ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $5.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.41M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-648.00K USD 1 Quarter
Deferred rent StraightLineRent $-4.00K USD 1 Quarter
Deferred rent StraightLineRent $-2.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $-22.00K USD 1 Quarter
Bad debt expense ProvisionForDoubtfulAccounts $5.00K USD 1 Quarter
Trade accounts receivable IncreaseDecreaseInAccountsReceivable $-298.00K USD 1 Quarter
Trade accounts receivable IncreaseDecreaseInAccountsReceivable $-957.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.85M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.68M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-1.14M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-299.00K USD 1 Quarter
Income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $378.00K USD 1 Quarter
Income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $10.00K USD 1 Quarter
Intangibles and other long term assets IncreaseDecreaseInOtherOperatingLiabilities $-33.00K USD 1 Quarter
Intangibles and other long term assets IncreaseDecreaseInOtherOperatingLiabilities - USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $20.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.83M USD 1 Quarter
Accrued payroll liabilities and commissions IncreaseDecreaseInEmployeeRelatedLiabilities $28.00K USD 1 Quarter
Accrued payroll liabilities and commissions IncreaseDecreaseInEmployeeRelatedLiabilities $-865.00K USD 1 Quarter
Customers deposits IncreaseDecreaseInCustomerDeposits $3.17M USD 1 Quarter
Customers deposits IncreaseDecreaseInCustomerDeposits $-902.00K USD 1 Quarter
Accrued customer support and warranty costs IncreaseDecreaseInAccruedCustomerSupportAndWarrantyCosts $-490.00K USD 1 Quarter
Accrued customer support and warranty costs IncreaseDecreaseInAccruedCustomerSupportAndWarrantyCosts $-125.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-15.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable - USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $-242.00K USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $76.00K USD 1 Quarter
Other IncreaseDecreaseInOtherNoncurrentLiabilities $3.00K USD 1 Quarter
Other IncreaseDecreaseInOtherNoncurrentLiabilities $-5.00K USD 1 Quarter
Cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-3.86M USD 1 Quarter
Cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-697.00K USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment $12.00K USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment $3.00K USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $253.00K USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $624.00K USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-241.00K USD 1 Quarter
Cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-621.00K USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $177.00K USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $181.00K USD 1 Quarter
Excess tax benefits from share based payments ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $4.00K USD 1 Quarter
Excess tax benefits from share based payments ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $5.00K USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $13.00K USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $15.00K USD 1 Quarter
Exchange of shares for statutory withholding ShareValuePaidForTaxWithholdingForShareBasedCompensation $245.00K USD 1 Quarter
Exchange of shares for statutory withholding ShareValuePaidForTaxWithholdingForShareBasedCompensation $254.00K USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-413.00K USD 1 Quarter
Cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-407.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH EffectOfExchangeRateOnCashAndCashEquivalents $-1.00K USD 1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH EffectOfExchangeRateOnCashAndCashEquivalents $-79.00K USD 1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $-4.96M USD 1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS CashAndCashEquivalentsPeriodIncreaseDecrease $-1.35M USD 1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $7.73M USD Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $4.78M USD Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $6.37M USD Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $9.74M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $7.73M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $4.78M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $6.37M USD Point-in-time
CASH AND CASH EQUIVALENTS, END OF THE PERIOD CashAndCashEquivalentsAtCarryingValue $9.74M USD Point-in-time
Cash paid during the period for interest InterestPaid $110.00K USD 1 Quarter
Cash paid during the period for interest InterestPaid $62.00K USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaid $5.00K USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaid $5.00K USD 1 Quarter
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net earnings (loss) NetIncomeLoss $-1.83M USD 1 Quarter
Net earnings (loss) NetIncomeLoss $-1.70M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-605.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax $-900.00K USD 1 Quarter
Unrealized changes in fair value of derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax - USD 1 Quarter
Unrealized changes in fair value of derivatives OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-34.00K USD 1 Quarter
Reclassification adjustment for foreign currency translation included in net earnings (loss) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax - USD 1 Quarter
Reclassification adjustment for foreign currency translation included in net earnings (loss) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax $-6.00K USD 1 Quarter
Income tax (expense) benefit related to items of comprehensive income (loss) OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $-204.00K USD 1 Quarter
Income tax (expense) benefit related to items of comprehensive income (loss) OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $-319.00K USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-2.09M USD 1 Quarter
Total comprehensive loss ComprehensiveIncomeNetOfTax $-2.44M USD 1 Quarter

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

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