10-Q Filing

GENASYS INC. CIK: 924383 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-014601`
Period End Date	20140630
Filing Date	20140807
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	lrad-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 67 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`	$9.49K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	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`	$15.06M	USD	Point-in-time
Accounts receivable, less allowance of $9,488 and $3,772 for doubtful accounts	`AccountsReceivableNetCurrent`	$4.96M	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 $9,488 and $3,772 for doubtful accounts	`AccountsReceivableNetCurrent`	$3.75M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$4.73M	USD	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`	$549.69K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$1.00M	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
Total current assets	`AssetsCurrent`	$30.23M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$26.36M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.90M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$336.65K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$237.38K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.00M	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`	$46.70K	USD	Point-in-time
Prepaid expenses and other - noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$914.52K	USD	Point-in-time
Prepaid expenses and other - noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$773.89K	USD	Point-in-time
Total assets	`Assets`	$27.56M	USD	Point-in-time
Total assets	`Assets`	$31.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$652.28K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.60M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.01M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.65M	USD	Point-in-time
Other liabilities - noncurrent	`OtherLiabilitiesNoncurrent`	$146.11K	USD	Point-in-time
Other liabilities - noncurrent	`OtherLiabilitiesNoncurrent`	$160.85K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.82M	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; 33,002,099 and 32,900,705 shares issued and outstanding, respectively	`CommonStockValue`	$330.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 33,002,099 and 32,900,705 shares issued and outstanding, respectively	`CommonStockValue`	$329.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.64M	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`	$-60.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.39M	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$16.29M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$1.91M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$7.62M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$7.56M	USD	3 Qtrs
Contract and other	`SalesRevenueServicesNet`	$772.23K	USD	3 Qtrs
Contract and other	`SalesRevenueServicesNet`	$252.13K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$382.70K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$922.91K	USD	3 Qtrs
Total revenues	`Revenues`	$17.21M	USD	3 Qtrs
Total revenues	`Revenues`	$8.00M	USD	1 Quarter
Total revenues	`Revenues`	$2.16M	USD	1 Quarter
Total revenues	`Revenues`	$8.33M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$1.24M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.56M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$7.49M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$2.96M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.72M	USD	3 Qtrs
Gross profit	`GrossProfit`	$915.45K	USD	1 Quarter
Gross profit	`GrossProfit`	$3.76M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.05M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.61M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.54M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.15M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.30M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$423.43K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$622.27K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.59M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$7.14M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$5.45M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.03M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$2.59M	USD	3 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-1.12M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.94M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.69M	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.81K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$5.13K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$15.41K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$22.16K	USD	3 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.67M	USD	3 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.60M	USD	3 Qtrs
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.94M	USD	1 Quarter
Income (loss) from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.11M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$552.00	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.60K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.25K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.60M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.94M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.11M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.67M	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.05	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.43M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.41M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.04M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.07M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.43M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.34M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.19M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.41M	shares	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$2.60M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.94M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.11M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.67M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$147.53K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$106.48K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-400.00	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$5.72K	USD	3 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-64.37K	USD	1 Quarter
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$834.00	USD	3 Qtrs
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$7.30K	USD	1 Quarter
Warranty provision	`ProductWarrantyAccrualWarrantiesIssued`	$-147.89K	USD	3 Qtrs
Inventory obsolescence	`InventoryWriteDown`	$-219.42K	USD	3 Qtrs
Inventory obsolescence	`InventoryWriteDown`	$19.03K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$488.96K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$582.06K	USD	3 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$6.98K	USD	3 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$5.14K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.20M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.35M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.91M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$163.28K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$24.67K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-454.19K	USD	3 Qtrs
Prepaid expenses and other - noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.62K	USD	3 Qtrs
Prepaid expenses and other - noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.62K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-944.13K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-86.67K	USD	3 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$4.91K	USD	1 Quarter
Warranty settlements	`ProductWarrantyAccrualPayments`	$40.98K	USD	3 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$11.59K	USD	3 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$5.81K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.86M	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-30.93K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.23M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.93M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$242.48K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$134.35K	USD	3 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$6.35K	USD	3 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$2.73K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-248.83K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-137.08K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$476.49K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$105.23K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$193.06K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-283.43K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$105.23K	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.20M	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.40M	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.06M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.86M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.06M	USD	Point-in-time
Cash paid (refunded) for taxes	`IncomeTaxesPaid`	$325.00	USD	3 Qtrs
Cash paid (refunded) for taxes	`IncomeTaxesPaid`	$-38.72K	USD	3 Qtrs

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