10-Q Filing

Climb Global Solutions, Inc. CIK: 945983 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-033838`
Period End Date	20140331
Filing Date	20140502
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	wstg-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 30 Cash Flow Statement 52 Stockholders Equity 21 Comprehensive Income 9

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.43M	USD	Point-in-time
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.50M	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`	$11.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.61M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	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
Accounts receivable, net of allowances of $1,500 and $1,429, respectively	`AccountsReceivableNetCurrent`	$60.80M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Accounts receivable, net of allowances of $1,500 and $1,429, respectively	`AccountsReceivableNetCurrent`	$57.12M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.65M	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.23M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.77M	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.31M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.12M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	631,207.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	517,726.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.21M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$218.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$230.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$71.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$84.06M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$324.00K	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$334.00K	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$10.01M	USD	Point-in-time
Accounts receivable-long-term	`AccountsReceivableNetNoncurrent`	$9.55M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$160.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$159.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$216.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$216.00K	USD	Point-in-time
Total assets	`Assets`	$81.77M	USD	Point-in-time
Total assets	`Assets`	$94.76M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$60.04M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$45.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$60.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.81M	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; 4,766,774 and 4,653,293 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; 4,766,774 and 4,653,293 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$28.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$29.51M	USD	Point-in-time
Treasury stock, at cost, 517,726 and 631,207 shares, respectively	`TreasuryStockValue`	$6.48M	USD	Point-in-time
Treasury stock, at cost, 517,726 and 631,207 shares, respectively	`TreasuryStockValue`	$7.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.97M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$199.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-83.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$34.72M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$35.96M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$81.77M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$94.76M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$71.73M	USD	1 Quarter
Net sales	`Revenues`	$65.98M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$60.67M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$66.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.54M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.92M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.04M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.49M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.40M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$123.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$130.00K	USD	1 Quarter
Foreign currency transaction (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.00K	USD	1 Quarter
Foreign currency transaction (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$-12.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.60M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.53M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$511.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$545.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.06M	USD	1 Quarter
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`	$0.23	USD	1 Quarter
Weighted average common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.48M	shares	1 Quarter
Weighted average common shares outstanding - Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.54M	shares	1 Quarter
Weighted average common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.62M	shares	1 Quarter
Weighted average common shares outstanding - Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.60M	shares	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.17	USD	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.06M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$74.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$59.00K	USD	1 Quarter
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$34.00K	USD	1 Quarter
Deferred income tax (benefit) expense	`DeferredIncomeTaxExpenseBenefit`	$-12.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$37.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$327.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$271.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-16.87M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.90M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-88.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-82.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-906.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-14.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.55M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.15M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$82.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.83M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$780.00K	USD	1 Quarter
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$920.00K	USD	1 Quarter
Redemptions of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$5.34M	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquireProductiveAssets`	$69.00K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquireProductiveAssets`	$72.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-69.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.35M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$787.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$750.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$184.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$512.00K	USD	1 Quarter
Tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$32.00K	USD	1 Quarter
Tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$239.00K	USD	1 Quarter
Repayment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$27.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$867.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.26M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$135.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-122.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-117.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-7.89M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$3.76M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.72M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.59M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.72M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.61M	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`	$9.84M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$574.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$621.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$10.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$34.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.96M	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`	631,207.00	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	517,726.00	shares	Point-in-time
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.06M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-282.00K	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-186.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$787.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$327.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$867.00K	USD	1 Quarter
Tax benefit from share-based compensation	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$239.00K	USD	1 Quarter
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$184.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$34.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$35.96M	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`	631,207.00	shares	Point-in-time
Balance (in shares)	`TreasuryStockShares`	517,726.00	shares	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.06M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-282.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-186.00K	USD	1 Quarter
Reclassification adjustment for loss realized in net income on available-for-sale marketable securities	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$-11.00K	USD	1 Quarter
Other comprehensive (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-282.00K	USD	1 Quarter
Other comprehensive (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-175.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$777.00K	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.