10-Q Filing

Climb Global Solutions, Inc. CIK: 945983 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-035689`
Period End Date	20130331
Filing Date	20130501
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	wstg-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 31 Cash Flow Statement 56 Stockholders Equity 22 Comprehensive Income 11

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.59M	USD	Point-in-time
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.68M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.20M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$4.41M	USD	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
Accounts receivable, net of allowances of $1,680 and $1,586, respectively	`AccountsReceivableNetCurrent`	$61.39M	USD	Point-in-time
Accounts receivable, net of allowances of $1,680 and $1,586, respectively	`AccountsReceivableNetCurrent`	$47.97M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.74M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.74M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	543,627.00	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.63M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	545,142.00	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.72M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.26M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.28M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$266.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$280.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$64.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$78.91M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$375.00K	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$374.00K	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$11.85M	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$8.26M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$71.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$153.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$236.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$215.00K	USD	Point-in-time
Total assets	`Assets`	$91.44M	USD	Point-in-time
Total assets	`Assets`	$73.73M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$59.27M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$41.69M	USD	Point-in-time
Current portion - capital lease obligation	`CapitalLeaseObligationsCurrent`	$55.00K	USD	Point-in-time
Current portion - capital lease obligation	`CapitalLeaseObligationsCurrent`	$28.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$41.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$59.32M	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; 4,739,358 and 4,740,873 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; 4,739,358 and 4,740,873 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$27.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$27.71M	USD	Point-in-time
Treasury stock, at cost, 545,142 and 543,627 shares, respectively	`TreasuryStockValue`	$5.69M	USD	Point-in-time
Treasury stock, at cost, 545,142 and 543,627 shares, respectively	`TreasuryStockValue`	$5.37M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.32M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$242.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$417.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$91.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$73.73M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$66.91M	USD	1 Quarter
Net sales	`Revenues`	$65.98M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$61.34M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$60.67M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.92M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.99M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.58M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.40M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$130.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$124.00K	USD	1 Quarter
Foreign currency transaction gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.00K	USD	1 Quarter
Foreign currency transaction gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.53M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.71M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$676.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$511.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	Annual
Income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Income per common share - Basic (in dollars per share)	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Income per common share -Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Income per common share -Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Weighted average common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4,477.00	shares	1 Quarter
Weighted average common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4,427.00	shares	1 Quarter
Weighted average common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4,602.00	shares	1 Quarter
Weighted average common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4,612.00	shares	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`	$0.16	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$81.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$74.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$24.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$34.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$95.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$37.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$271.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$231.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-354.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-16.87M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-88.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-7.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-14.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-695.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.34M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.55M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$82.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-10.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$780.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.19M	USD	1 Quarter
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$920.00K	USD	1 Quarter
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$680.00K	USD	1 Quarter
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$1.23M	USD	1 Quarter
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$5.34M	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquireProductiveAssets`	$57.00K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquireProductiveAssets`	$72.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$488.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.35M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$743.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$750.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$512.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$113.00K	USD	1 Quarter
Tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-39.00K	USD	1 Quarter
Tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$32.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$21.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-916.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.26M	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$20.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-117.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$777.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$3.76M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.59M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.59M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$574.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.00M	USD	1 Quarter
Interest paid	`InterestPaid`	$10.00K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$32.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.01M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	543,627.00	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	545,142.00	shares	Point-in-time
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	Annual
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-186.00K	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$68.00K	USD	1 Quarter
Reclassification adjustment for loss realized in net income on available-for-sale marketable securities	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$11.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$750.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$271.00K	USD	1 Quarter
Tax benefit from share-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$32.00K	USD	1 Quarter
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$512.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$32.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.01M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	543,627.00	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	545,142.00	shares	Point-in-time

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.03M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-186.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$68.00K	USD	1 Quarter
Reclassification adjustment for loss realized in net income on available-for-sale marketable securities	`OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$11.00K	USD	1 Quarter
Unrealized gain on available-for-sale marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.00K	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$72.00K	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-175.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.10M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$845.00K	USD	1 Quarter

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