10-Q Filing

Climb Global Solutions, Inc. CIK: 945983 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-045237`
Period End Date	20110630
Filing Date	20110809
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	wstg-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 60 Cash Flow Statement 55 Stockholders Equity 16

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.66M	USD	Point-in-time
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.47M	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.77M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.67M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.72M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.96M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	514,259.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	561,607.00	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$1.39M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$4.53M	USD	Point-in-time
Accounts receivable, net of allowances of $1,658 and $1,473, respectively	`AccountsReceivableNetCurrent`	$42.49M	USD	Point-in-time
Accounts receivable, net of allowances of $1,658 and $1,473, respectively	`AccountsReceivableNetCurrent`	$38.44M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.34M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.16M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.25M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.38M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$452.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$516.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.68M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.90M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$545.00K	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$514.00K	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$6.37M	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$6.87M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$37.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$38.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$336.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$336.00K	USD	Point-in-time
Total assets	`Assets`	$68.68M	USD	Point-in-time
Total assets	`Assets`	$61.94M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$41.79M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.64M	USD	Point-in-time
Current portion - capital lease obligation	`CapitalLeaseObligationsCurrent`	$75.00K	USD	Point-in-time
Current portion - capital lease obligation	`CapitalLeaseObligationsCurrent`	$82.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.73M	USD	Point-in-time
Long- term portion- capital lease obligation	`CapitalLeaseObligationsNoncurrent`	$97.00K	USD	Point-in-time
Long- term portion- capital lease obligation	`CapitalLeaseObligationsNoncurrent`	$138.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$34.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$42.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, $.01 par value; 10,000,000 shares authorized, 5,284,500 shares issued; 4,722,893 and 4,770,241 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Common Stock, $.01 par value; 10,000,000 shares authorized, 5,284,500 shares issued; 4,722,893 and 4,770,241 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$25.47M	USD	Point-in-time
Treasury stock, at cost, 561,607 and 514,259 shares, respectively	`TreasuryStockValue`	$3.57M	USD	Point-in-time
Treasury stock, at cost, 561,607 and 514,259 shares, respectively	`TreasuryStockValue`	$4.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.83M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$456.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$548.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$68.68M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$61.94M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$88.80M	USD	2 Qtrs
Net sales	`Revenues`	$60.66M	USD	1 Quarter
Net sales	`Revenues`	$48.44M	USD	1 Quarter
Net sales	`Revenues`	$112.21M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$55.06M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$43.76M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$80.15M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$101.78M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.43M	USD	2 Qtrs
Gross profit	`GrossProfit`	$8.65M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.64M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.19M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.17M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.16M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.52M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.26M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.96M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.46M	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$172.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$212.00K	USD	2 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$104.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$86.00K	USD	1 Quarter
Realized foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	1 Quarter
Realized foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$2.00K	USD	1 Quarter
Realized foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	2 Qtrs
Realized foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.00K	USD	2 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.68M	USD	2 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.43M	USD	2 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.05M	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.63M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$576.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.00M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.36M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$820.00K	USD	1 Quarter
Net income	`ProfitLoss`	$1.23M	USD	1 Quarter
Net income	`ProfitLoss`	$2.07M	USD	2 Qtrs
Net income	`ProfitLoss`	$1.68M	USD	2 Qtrs
Net income	`ProfitLoss`	$1.05M	USD	1 Quarter
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	2 Qtrs
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.47	USD	2 Qtrs
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	2 Qtrs
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	2 Qtrs
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.38M	shares	1 Quarter
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.38M	shares	2 Qtrs
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	2 Qtrs
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	1 Quarter
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.49M	shares	1 Quarter
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.65M	shares	2 Qtrs
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.46M	shares	2 Qtrs
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.64M	shares	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.15	USD	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	2 Qtrs
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.32	USD	2 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.23M	USD	1 Quarter
Net income	`ProfitLoss`	$2.07M	USD	2 Qtrs
Net income	`ProfitLoss`	$1.68M	USD	2 Qtrs
Net income	`ProfitLoss`	$1.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$157.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$151.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$64.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$204.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$596.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$589.00K	USD	2 Qtrs
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$105.00K	USD	2 Qtrs
Reversal of uncertain tax position liability	`UnrecognizedTaxBenefitsPeriodIncreaseDecrease`	$-78.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.51M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.36M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$349.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$180.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$162.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$126.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.54M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.18M	USD	2 Qtrs
Net change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$3.00K	USD	2 Qtrs
Net change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.22M	USD	2 Qtrs
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$4.51M	USD	2 Qtrs
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$4.24M	USD	2 Qtrs
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$3.14M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$131.00K	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$124.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-398.00K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.01M	USD	2 Qtrs
Dividend paid	`PaymentsOfDividendsCommonStock`	$1.42M	USD	2 Qtrs
Dividend paid	`PaymentsOfDividendsCommonStock`	$1.50M	USD	2 Qtrs
Treasury stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$354.00K	USD	2 Qtrs
Treasury stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$1.07M	USD	2 Qtrs
Tax benefit from share- based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$11.00K	USD	2 Qtrs
Tax benefit from share- based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$188.00K	USD	2 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$41.00K	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$71.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.76M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.36M	USD	2 Qtrs
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$47.00K	USD	2 Qtrs
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-7.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$712.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.05M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.67M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.67M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.96M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$814.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.23M	USD	2 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.11M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.68M	USD	Point-in-time
Net Income	`ProfitLoss`	$1.23M	USD	1 Quarter
Net Income	`ProfitLoss`	$2.07M	USD	2 Qtrs
Net Income	`ProfitLoss`	$1.68M	USD	2 Qtrs
Net Income	`ProfitLoss`	$1.05M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$88.00K	USD	2 Qtrs
Unrealized gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.00K	USD	2 Qtrs
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$2.16M	USD	2 Qtrs
Dividends paid	`DividendsCommonStockCash`	$1.50M	USD	2 Qtrs
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$71.00K	USD	2 Qtrs
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$589.00K	USD	2 Qtrs
Tax benefit from share-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$188.00K	USD	2 Qtrs
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$1.07M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.11M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.68M	USD	Point-in-time

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