10-Q Filing

Climb Global Solutions, Inc. CIK: 945983 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-060362`
Period End Date	20110930
Filing Date	20111103
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	wstg-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 58 Cash Flow Statement 59 Stockholders Equity 16

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.46M	USD	Point-in-time
Accounts receivable, allowances (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`	4.69M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.86M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.77M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.71M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	596,458.00	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$4.40M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	514,259.00	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$4.53M	USD	Point-in-time
Accounts receivable, net of allowances of $1,455 and $1,473, respectively	`AccountsReceivableNetCurrent`	$38.59M	USD	Point-in-time
Accounts receivable, net of allowances of $1,455 and $1,473, respectively	`AccountsReceivableNetCurrent`	$42.49M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.16M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.43M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.25M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.51M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$323.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$516.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$55.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.90M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$507.00K	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$545.00K	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$7.76M	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`	$37.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$336.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$189.00K	USD	Point-in-time
Total assets	`Assets`	$63.61M	USD	Point-in-time
Total assets	`Assets`	$68.68M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.94M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$41.79M	USD	Point-in-time
Current portion - capital lease obligation	`CapitalLeaseObligationsCurrent`	$83.00K	USD	Point-in-time
Current portion - capital lease obligation	`CapitalLeaseObligationsCurrent`	$75.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.02M	USD	Point-in-time
Long- term portion- capital lease obligation	`CapitalLeaseObligationsNoncurrent`	$76.00K	USD	Point-in-time
Long- term portion- capital lease obligation	`CapitalLeaseObligationsNoncurrent`	$138.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$42.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$36.10M	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; 4,688,042 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; 4,688,042 and 4,770,241 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$25.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.46M	USD	Point-in-time
Treasury stock, at cost, 596,458 and 514,259 shares, respectively	`TreasuryStockValue`	$4.89M	USD	Point-in-time
Treasury stock, at cost, 596,458 and 514,259 shares, respectively	`TreasuryStockValue`	$3.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.58M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$456.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$303.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.51M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$63.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$68.68M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$141.79M	USD	3 Qtrs
Net sales	`Revenues`	$175.95M	USD	3 Qtrs
Net sales	`Revenues`	$52.99M	USD	1 Quarter
Net sales	`Revenues`	$63.74M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$47.86M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$57.98M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$128.01M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$159.77M	USD	3 Qtrs
Gross profit	`GrossProfit`	$16.18M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.79M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.63M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.46M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.18M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.37M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.95M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.55M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.42M	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$104.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$264.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$316.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$92.00K	USD	1 Quarter
Realized foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.00K	USD	3 Qtrs
Realized foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	3 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.81M	USD	3 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.74M	USD	3 Qtrs
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.06M	USD	1 Quarter
Income before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.38M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.25M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.80M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$890.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$800.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.26M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.94M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.56M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.49M	USD	1 Quarter
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.81	USD	3 Qtrs
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Net income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	3 Qtrs
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	3 Qtrs
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.77	USD	3 Qtrs
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Net income per common share - Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	1 Quarter
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.39M	shares	1 Quarter
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.41M	shares	3 Qtrs
Weighted average common shares outstanding-Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.38M	shares	3 Qtrs
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.47M	shares	3 Qtrs
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.58M	shares	1 Quarter
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.50M	shares	1 Quarter
Weighted average common shares outstanding-Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.62M	shares	3 Qtrs
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.45	USD	3 Qtrs
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.48	USD	3 Qtrs
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`	$0.15	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.26M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.94M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.56M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$238.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$228.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$320.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$340.00K	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$892.00K	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$824.00K	USD	3 Qtrs
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$105.00K	USD	3 Qtrs
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$30.00K	USD	3 Qtrs
Reversal of uncertain tax position liability	`UnrecognizedTaxBenefitsPeriodIncreaseDecrease`	$-78.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.16M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.79M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$219.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$266.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$157.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$267.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.02M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-5.78M	USD	3 Qtrs
Net change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.00K	USD	3 Qtrs
Net change in other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.54M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$806.00K	USD	3 Qtrs
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$4.16M	USD	3 Qtrs
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$5.47M	USD	3 Qtrs
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$4.28M	USD	3 Qtrs
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$6.52M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$139.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$199.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-80.00K	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$908.00K	USD	3 Qtrs
Dividend paid	`PaymentsOfDividendsCommonStock`	$2.25M	USD	3 Qtrs
Dividend paid	`PaymentsOfDividendsCommonStock`	$2.13M	USD	3 Qtrs
Treasury stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$1.44M	USD	3 Qtrs
Treasury stock repurchased	`PaymentsForRepurchaseOfCommonStock`	$499.00K	USD	3 Qtrs
Tax benefit from share- based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$205.00K	USD	3 Qtrs
Tax benefit from share- based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$23.00K	USD	3 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$7.00K	USD	3 Qtrs
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$62.00K	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$71.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.47M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.61M	USD	3 Qtrs
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$42.00K	USD	3 Qtrs
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-92.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-855.00K	USD	3 Qtrs
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.10M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.86M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.71M	USD	Point-in-time
Cash and cash equivalents at end 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`	$8.86M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.71M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$1.40M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.93M	USD	3 Qtrs
Equipment financed with capital leases	`CapitalLeaseObligationsIncurred`	$247.00K	USD	3 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$26.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.51M	USD	Point-in-time
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.26M	USD	1 Quarter
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.94M	USD	3 Qtrs
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.56M	USD	3 Qtrs
Net Income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.49M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-141.00K	USD	3 Qtrs
Unrealized loss on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-12.00K	USD	3 Qtrs
Comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$3.41M	USD	3 Qtrs
Dividends paid	`DividendsCommonStockCash`	$2.25M	USD	3 Qtrs
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$71.00K	USD	3 Qtrs
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$824.00K	USD	3 Qtrs
Tax benefit from share-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$205.00K	USD	3 Qtrs
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$1.44M	USD	3 Qtrs
Balance	`StockholdersEquity`	$26.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.51M	USD	Point-in-time

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