10-Q Filing

GENASYS INC. CIK: 924383 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-008202`
Period End Date	20140331
Filing Date	20140507
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	lrad-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 68 Cash Flow Statement 59

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.77K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$11.81K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$18.53M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.78M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance of $11,809 and $3,772 for doubtful accounts	`AccountsReceivableNetCurrent`	$2.76M	USD	Point-in-time
Accounts receivable, less allowance of $11,809 and $3,772 for doubtful accounts	`AccountsReceivableNetCurrent`	$4.96M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.49M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$4.59M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$626.18K	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.41M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$356.84K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.21M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.90M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$237.38K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.21M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.90M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$51.65K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$45.29K	USD	Point-in-time
Prepaid expenses and other - noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$820.77K	USD	Point-in-time
Prepaid expenses and other - noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$914.52K	USD	Point-in-time
Total assets	`Assets`	$28.64M	USD	Point-in-time
Total assets	`Assets`	$27.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.65M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.65M	USD	Point-in-time
Other liabilities - noncurrent	`OtherLiabilitiesNoncurrent`	$159.44K	USD	Point-in-time
Other liabilities - noncurrent	`OtherLiabilitiesNoncurrent`	$146.11K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.80M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 33,205,373 and 32,900,705 shares issued and outstanding, respectively	`CommonStockValue`	$331.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 33,205,373 and 32,900,705 shares issued and outstanding, respectively	`CommonStockValue`	$329.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-62.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-62.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.64M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$5.65M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$5.11M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$8.67M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$2.89M	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$520.11K	USD	2 Qtrs
Contract and other	`SalesRevenueServicesNet`	$540.21K	USD	2 Qtrs
Contract and other	`SalesRevenueServicesNet`	$273.65K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$302.34K	USD	1 Quarter
Total revenues	`Revenues`	$6.17M	USD	2 Qtrs
Total revenues	`Revenues`	$9.21M	USD	2 Qtrs
Total revenues	`Revenues`	$3.19M	USD	1 Quarter
Total revenues	`Revenues`	$5.39M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.83M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$3.32M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$4.54M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$2.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.85M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.36M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.06M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.37M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.54M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$456.75K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$878.67K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$969.39K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$575.85K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.42M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.02M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.21M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-464.94K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-573.51K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$648.91K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$522.44K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$15.36K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$5.09K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$7.16K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$10.28K	USD	2 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-457.78K	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-558.15K	USD	2 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$659.19K	USD	2 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$527.53K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.60K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.60K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.70K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.60K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-459.38K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-559.75K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$525.93K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$657.49K	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.02	USD	2 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.40M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.13M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.08M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.40M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.40M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.40M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.76M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.04M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-459.38K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-559.75K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$525.93K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$657.49K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$87.44K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$67.52K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-400.00	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$8.04K	USD	2 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-69.16K	USD	1 Quarter
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-15.91K	USD	1 Quarter
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-6.47K	USD	2 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-83.52K	USD	2 Qtrs
Inventory obsolescence	`InventoryWriteDown`	$-33.09K	USD	2 Qtrs
Inventory obsolescence	`InventoryWriteDown`	$-213.52K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$390.30K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$341.42K	USD	2 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$5.14K	USD	2 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$6.98K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.17M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.19M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.54M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$873.90K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-377.70K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-42.57K	USD	2 Qtrs
Prepaid expenses and other - noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.75K	USD	2 Qtrs
Prepaid expenses and other - noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.75K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-478.79K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$243.13K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$5.78K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$24.71K	USD	1 Quarter
Warranty settlements	`ProductWarrantyAccrualPayments`	$36.07K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$1.50K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$295.52K	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$565.91K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.99M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.99M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$82.92K	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$203.88K	USD	2 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$3.65K	USD	2 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$2.73K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.66K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-207.52K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$248.96K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.23K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$193.06K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-55.89K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.23K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.73M	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.92M	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.53M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.78M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.53M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.78M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash paid (refunded) for taxes	`IncomeTaxesPaid`	$100.00	USD	2 Qtrs
Cash paid (refunded) for taxes	`IncomeTaxesPaid`	$-38.72K	USD	2 Qtrs

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