10-Q Filing

COMVERGE, INC. CIK: 1372664 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001372664-12-000022`
Period End Date	20120331
Filing Date	20120510
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	comv-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 36 Cash Flow Statement 60 Comprehensive Income 8

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.64M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.74M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.80M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.19M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$4.05M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	25.97M	shares	Point-in-time
Billed accounts receivable, net	`AccountsReceivableNetCurrent`	$18.48M	USD	Point-in-time
Billed accounts receivable, net	`AccountsReceivableNetCurrent`	$18.99M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	27.58M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	27.48M	shares	Point-in-time
Unbilled accounts receivable	`UnbilledContractsReceivable`	$12.73M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	25.91M	shares	Point-in-time
Unbilled accounts receivable	`UnbilledContractsReceivable`	$11.66M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	54,742.00	shares	Point-in-time
Inventory, net	`InventoryNet`	$8.63M	USD	Point-in-time
Inventory, net	`InventoryNet`	$10.38M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	97,808.00	shares	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$1.80M	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$2.57M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.31M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.64M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$332.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$9.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.75M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.63M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.66M	USD	Point-in-time
Goodwill	`Goodwill`	$499.00K	USD	Point-in-time
Goodwill	`Goodwill`	$499.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.64M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.68M	USD	Point-in-time
Total assets	`Assets`	$106.20M	USD	Point-in-time
Total assets	`Assets`	$105.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.12M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.69M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$20.35M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$13.54M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$7.09M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$9.19M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$26.15M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.56M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$7.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.28M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$490.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$484.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$17.06M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.26M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.56M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.74M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$19.11M	USD	Point-in-time
Common stock	`CommonStockValue`	$26.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$27.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$268.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$266.09M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$400.00K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$338.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-228.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-231.49M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-45.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$36.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$36.98M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$106.20M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$105.41M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$4.69M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$8.10M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$13.93M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$24.49M	USD	1 Quarter
Total revenue	`Revenues`	$32.58M	USD	1 Quarter
Total revenue	`Revenues`	$18.62M	USD	1 Quarter
Product	`CostOfGoodsSold`	$6.12M	USD	1 Quarter
Product	`CostOfGoodsSold`	$3.46M	USD	1 Quarter
Service	`CostOfServices`	$9.94M	USD	1 Quarter
Service	`CostOfServices`	$7.40M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$10.86M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$16.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.51M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$11.36M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$10.23M	USD	1 Quarter
Marketing and selling expenses	`SellingAndMarketingExpense`	$5.03M	USD	1 Quarter
Marketing and selling expenses	`SellingAndMarketingExpense`	$5.09M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.13M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$1.05M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$237.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$66.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.08M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-8.84M	USD	1 Quarter
Interest and other expense, net	`OtherNonoperatingExpense`	$929.00K	USD	1 Quarter
Interest and other expense, net	`OtherNonoperatingExpense`	$1.39M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.77M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.47M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$252.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.72M	USD	1 Quarter
Net loss per share (basic and diluted)	`EarningsPerShareBasicAndDiluted`	$-0.39	USD	1 Quarter
Net loss per share (basic and diluted)	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Weighted average shares used in computation	`WeightedAverageSharesUsedInComputationBasicAndDiluted`	26.17M	shares	1 Quarter
Weighted average shares used in computation	`WeightedAverageSharesUsedInComputationBasicAndDiluted`	24.79M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.72M	USD	1 Quarter
Depreciation	`Depreciation`	$529.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.28M	USD	1 Quarter
Amortization of intangible assets and capitalized software	`AmortizationOfIntangibleAssetsAndCapitalizedSoftware`	$410.00K	USD	1 Quarter
Amortization of intangible assets and capitalized software	`AmortizationOfIntangibleAssetsAndCapitalizedSoftware`	$256.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.14M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$746.00K	USD	1 Quarter
Other	`OtherNoncashExpense`	$382.00K	USD	1 Quarter
Other	`OtherNoncashExpense`	$537.00K	USD	1 Quarter
Billed and unbilled accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-608.00K	USD	1 Quarter
Billed and unbilled accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-9.55M	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$-1.18M	USD	1 Quarter
Inventory, net	`IncreaseDecreaseInInventories`	$1.46M	USD	1 Quarter
Deferred costs and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$234.00K	USD	1 Quarter
Deferred costs and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$473.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.56M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$238.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.54M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.64M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$6.44M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$2.77M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.62M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.85M	USD	1 Quarter
Changes in restricted cash	`IncreaseDecreaseInRestrictedCash`	$6.81M	USD	1 Quarter
Changes in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-918.00K	USD	1 Quarter
Maturities/sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Maturities/sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$27.72M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.90M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.83M	USD	1 Quarter
Capitalized software costs	`CapitalizedComputerSoftwareAdditions`	$-323.00K	USD	1 Quarter
Capitalized software costs	`CapitalizedComputerSoftwareAdditions`	$-283.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.99M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$25.49M	USD	1 Quarter
Borrowings under Peak Corp. debt facility, net of debt discount	`ProceedsFromIssuanceOfDebt`	$11.10M	USD	1 Quarter
Borrowings under Peak Corp. debt facility, net of debt discount	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Repayment of debt facility	`RepaymentsOfLongTermDebt`	$11.25M	USD	1 Quarter
Repayment of debt facility	`RepaymentsOfLongTermDebt`	$750.00K	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$1.24M	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Other	`Otherfinancingactivities`	$54.00K	USD	1 Quarter
Other	`Otherfinancingactivities`	$-293.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-696.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$800.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-14.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.59M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$18.94M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.64M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.74M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.05M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.64M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.74M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.80M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$490.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$257.00K	USD	1 Quarter
Recording of asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$-261.00K	USD	1 Quarter
Recording of asset retirement obligation	`AssetRetirementObligationPeriodIncreaseDecrease`	$-222.00K	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.72M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	-	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-20.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-20.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	-	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.79M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.74M	USD	1 Quarter

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