10-K Filing

LANTRONIX INC CIK: 1114925 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001019687-12-003064`
Period End Date	20120630
Filing Date	20120830
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	ltrx-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 34 Cash Flow Statement 66 Stockholders Equity 15

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Allowance for Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$102.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.37M	USD	Point-in-time
Allowance for Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$108.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $108 and $102 at June 30, 2012 and 2011, respectively)	`AccountsReceivableNetCurrent`	$2.67M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $108 and $102 at June 30, 2012 and 2011, respectively)	`AccountsReceivableNetCurrent`	$2.91M	USD	Point-in-time
Preferred Stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$9.16M	USD	Point-in-time
Preferred Stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.96M	USD	Point-in-time
Preferred Stock Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Contract manufacturers' receivable	`NontradeReceivables`	$622.00K	USD	Point-in-time
Contract manufacturers' receivable	`NontradeReceivables`	$636.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$605.00K	USD	Point-in-time
Preferred Stock Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$549.00K	USD	Point-in-time
Preferred Stock Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$569.00K	USD	Point-in-time
Preferred Stock Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$657.00K	USD	Point-in-time
Preferred Stock Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.71M	USD	Point-in-time
Common Stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.83M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.76M	USD	Point-in-time
Common Stock Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.60M	USD	Point-in-time
Common Stock Issued	`CommonStockSharesIssued`	14.55M	shares	Point-in-time
Goodwill	`Goodwill`	$9.49M	USD	Point-in-time
Goodwill	`Goodwill`	$9.49M	USD	Point-in-time
Common Stock Issued	`CommonStockSharesIssued`	10.55M	shares	Point-in-time
Purchased intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$54.00K	USD	Point-in-time
Common Stock Outstanding	`CommonStockSharesOutstanding`	10.55M	shares	Point-in-time
Common Stock Outstanding	`CommonStockSharesOutstanding`	14.55M	shares	Point-in-time
Purchased intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$87.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$175.00K	USD	Point-in-time
Total assets	`Assets`	$33.01M	USD	Point-in-time
Total assets	`Assets`	$31.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.56M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Accrued payroll and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$2.00M	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$232.00K	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$183.00K	USD	Point-in-time
Warranty reserve	`ProductWarrantyAccrualClassifiedCurrent`	$268.00K	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$667.00K	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$667.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.34M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.49M	USD	Point-in-time
Long-term liabilities	`OtherLiabilitiesNoncurrent`	$550.00K	USD	Point-in-time
Long-term liabilities	`OtherLiabilitiesNoncurrent`	$303.00K	USD	Point-in-time
Long-term capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$48.00K	USD	Point-in-time
Long-term capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$45.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$833.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$167.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$569.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$657.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.08M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized; 14,549,072 and 10,549,852 shares issued and outstanding at June 30, 2012 and 2011, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.0001 par value; 100,000,000 shares authorized; 14,549,072 and 10,549,852 shares issued and outstanding at June 30, 2012 and 2011, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$203.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$192.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-178.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-181.52M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$399.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$399.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.19M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$45.38M	USD	Annual
Net revenue	`SalesRevenueNet`	$49.32M	USD	Annual
Cost of revenue	`CostOfRevenue`	$23.24M	USD	Annual
Cost of revenue	`CostOfRevenue`	$24.91M	USD	Annual
Gross profit	`GrossProfit`	$24.41M	USD	Annual
Gross profit	`GrossProfit`	$22.15M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.68M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$22.37M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$7.03M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$6.91M	USD	Annual
Restructuring charges	`RestructuringCharges`	-	USD	Annual
Restructuring charges	`RestructuringCharges`	$286.00K	USD	Annual
Amortization of purchased intangible assets	`AdjustmentForAmortization`	$72.00K	USD	Annual
Amortization of purchased intangible assets	`AdjustmentForAmortization`	$54.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$24.93M	USD	Annual
Total operating expenses	`OperatingExpenses`	$29.48M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.79M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.06M	USD	Annual
Interest expense, net	`InterestExpense`	$123.00K	USD	Annual
Interest expense, net	`InterestExpense`	$97.00K	USD	Annual
Other expense, net	`OtherNonoperatingIncomeExpense`	$-28.00K	USD	Annual
Other expense, net	`OtherNonoperatingIncomeExpense`	$-82.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.97M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.21M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$56.00K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$73.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.04M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.27M	USD	Annual
Net loss per share (basic and diluted) (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	Annual
Net loss per share (basic and diluted) (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	Annual
Weighted-average shares (basic and diluted) (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10,434.00	shares	Annual
Weighted-average shares (basic and diluted) (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11,253.00	shares	Annual
Net revenue from related parties	`RevenueFromRelatedParties`	$865.00K	USD	Annual
Net revenue from related parties	`RevenueFromRelatedParties`	$942.00K	USD	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.04M	USD	Annual
Net loss	`NetIncomeLoss`	$-5.27M	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$745.00K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$1.60M	USD	Annual
Depreciation	`Depreciation`	$1.04M	USD	Annual
Depreciation	`Depreciation`	$934.00K	USD	Annual
Provision for excess and obsolete inventories	`InventoryWriteDown`	$482.00K	USD	Annual
Provision for excess and obsolete inventories	`InventoryWriteDown`	$167.00K	USD	Annual
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$54.00K	USD	Annual
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$101.00K	USD	Annual
Restructuring charges	`RestructuringCharges`	-	USD	Annual
Restructuring charges	`RestructuringCharges`	$286.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.57M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$234.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-2.46M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$2.72M	USD	Annual
Contract manufacturers' receivable	`IncreaseDecreaseContractManufacturersReceivable`	$379.00K	USD	Annual
Contract manufacturers' receivable	`IncreaseDecreaseContractManufacturersReceivable`	$14.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$56.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-38.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$88.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.81M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.79M	USD	Annual
Accrued payroll and related expenses	`IncreaseDecreaseInAccruedSalaries`	$100.00K	USD	Annual
Accrued payroll and related expenses	`IncreaseDecreaseInAccruedSalaries`	$422.00K	USD	Annual
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$85.00K	USD	Annual
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-36.00K	USD	Annual
Restructuring accrual	`RestructuringReservePeriodIncreaseDecrease`	-	USD	Annual
Restructuring accrual	`RestructuringReservePeriodIncreaseDecrease`	$-284.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-84.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-280.00K	USD	Annual
Cash received related to tenant incentives	`PaymentsForProceedsFromTenantAllowance`	-	USD	Annual
Cash received related to tenant incentives	`PaymentsForProceedsFromTenantAllowance`	$32.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.11M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.52M	USD	Annual
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$413.00K	USD	Annual
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$639.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-639.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-413.00K	USD	Annual
Minimum tax withholding paid on behalf of employees for restricted shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$30.00K	USD	Annual
Minimum tax withholding paid on behalf of employees for restricted shares	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$295.00K	USD	Annual
Proceeds from term loan	`ProceedsFromBankDebt`	$2.00M	USD	Annual
Proceeds from term loan	`ProceedsFromBankDebt`	-	USD	Annual
Payment of term loan	`RepaymentsOfBankDebt`	$1.28M	USD	Annual
Payment of term loan	`RepaymentsOfBankDebt`	$666.00K	USD	Annual
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$93.00K	USD	Annual
Net proceeds from issuances of common stock	`ProceedsFromIssuanceOfCommonStock`	$9.55M	USD	Annual
Payment of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$158.00K	USD	Annual
Payment of capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$309.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$212.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.70M	USD	Annual
Effect of foreign exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	Annual
Effect of foreign exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$74.00K	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.24M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.54M	USD	Annual
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.37M	USD	Point-in-time
Interest paid	`InterestPaid`	$98.00K	USD	Annual
Interest paid	`InterestPaid`	$121.00K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	$33.00K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	$10.00K	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, amount	`StockholdersEquity`	$18.34M	USD	Point-in-time
Beginning Balance, amount	`StockholdersEquity`	$14.70M	USD	Point-in-time
Beginning Balance, amount	`StockholdersEquity`	$21.93M	USD	Point-in-time
Shares issued pursuant to stock awards, net, amount	`StockIssuedFromStockOptionsAndRestrictedStock`	$480.00K	USD	Annual
Shares issued pursuant to stock awards, net, amount	`StockIssuedFromStockOptionsAndRestrictedStock`	$18.00K	USD	Annual
Shares issued pursuant to equity offering, amount	`StockIssuedDuringPeriodValueNewIssues`	$9.54M	USD	Annual
Minimum tax withholding paid on behalf of employees for restricted shares	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$-30.00K	USD	Annual
Minimum tax withholding paid on behalf of employees for restricted shares	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$-295.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$745.00K	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.45M	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-3.04M	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-5.27M	USD	Annual
Ending Balance, amount	`StockholdersEquity`	$18.34M	USD	Point-in-time
Ending Balance, amount	`StockholdersEquity`	$14.70M	USD	Point-in-time
Ending Balance, amount	`StockholdersEquity`	$21.93M	USD	Point-in-time

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