10-Q Filing

GENASYS INC. CIK: 924383 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-009305`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	lrad-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 64 Cash Flow Statement 56 Comprehensive Income 14

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
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 and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.53M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term Securities	`MarketableSecuritiesCurrent`	$1.75M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.35M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.28M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	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
Inventories, net	`InventoryNet`	$4.56M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.90M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$693.49K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$523.95K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$28.50M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.25M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.24M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$32.60M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.25M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.24M	shares	Point-in-time
Long-term Securities	`MarketableSecuritiesNoncurrent`	$2.80M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$413.91K	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	24,506.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$360.08K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$52.02K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$53.84K	USD	Point-in-time
Prepaid expenses and other, noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$766.42K	USD	Point-in-time
Prepaid expenses and other, noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$672.68K	USD	Point-in-time
Total assets	`Assets`	$33.78M	USD	Point-in-time
Total assets	`Assets`	$32.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$830.50K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.49M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.92M	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$157.55K	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$146.19K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.68M	USD	Point-in-time
Commitments and contingencies (Note 9)	`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; 33,250,943 and 33,236,489 shares issued and outstanding	`CommonStockValue`	$333.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 33,250,943 and 33,236,489 shares issued and outstanding	`CommonStockValue`	$332.00	USD	Point-in-time
Treasury stock, at cost, 24,506 shares	`TreasuryStockValue`	$57.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.35M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.10K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.44M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$8.40M	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$4.25M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$5.11M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$8.67M	USD	2 Qtrs
Contract and other	`SalesRevenueServicesNet`	$472.77K	USD	2 Qtrs
Contract and other	`SalesRevenueServicesNet`	$540.21K	USD	2 Qtrs
Contract and other	`SalesRevenueServicesNet`	$233.41K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$273.65K	USD	1 Quarter
Total revenues	`Revenues`	$5.39M	USD	1 Quarter
Total revenues	`Revenues`	$9.21M	USD	2 Qtrs
Total revenues	`Revenues`	$4.49M	USD	1 Quarter
Total revenues	`Revenues`	$8.87M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$2.66M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.22M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$2.19M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.54M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.66M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.73M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.87M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.06M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$969.39K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$569.42K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$575.85K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.05M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.02M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.21M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.92M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$261.19K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$648.91K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$522.44K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$740.62K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$57.12K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$30.92K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$10.28K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$5.09K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$797.75K	USD	2 Qtrs
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$527.53K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$659.19K	USD	2 Qtrs
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$292.11K	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
Income tax expense	`IncomeTaxExpenseBenefit`	$1.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$657.49K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$290.51K	USD	1 Quarter
Net income	`NetIncomeLoss`	$796.14K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$525.93K	USD	1 Quarter
Net income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Net income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	2 Qtrs
Net income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	2 Qtrs
Net income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.24M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.25M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.08M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.13M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.76M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.82M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.04M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$657.49K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$290.51K	USD	1 Quarter
Net income	`NetIncomeLoss`	$796.14K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$525.93K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$87.44K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$120.07K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$8.04K	USD	2 Qtrs
Warranty provision	`ProductWarrantyExpense`	$83.52K	USD	2 Qtrs
Warranty provision	`ProductWarrantyExpense`	$40.67K	USD	2 Qtrs
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$-33.09K	USD	2 Qtrs
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$22.91K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$308.85K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$341.42K	USD	2 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$6.98K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.19M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.94M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$689.05K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$873.90K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$169.54K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-377.70K	USD	2 Qtrs
Prepaid expenses and other, noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.75K	USD	2 Qtrs
Prepaid expenses and other, noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-93.74K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$206.15K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-478.79K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$19.35K	USD	1 Quarter
Warranty settlements	`ProductWarrantyAccrualPayments`	$-36.07K	USD	2 Qtrs
Warranty settlements	`ProductWarrantyAccrualPayments`	$24.71K	USD	1 Quarter
Warranty settlements	`ProductWarrantyAccrualPayments`	$-27.75K	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.62M	USD	2 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$565.91K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.77K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.99M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$4.54M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$203.88K	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$171.00K	USD	2 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$3.65K	USD	2 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$1.09K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.72M	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
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$158.74K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$107.21K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$193.06K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-55.89K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-51.53K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.75M	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.73M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.53M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.15M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.15M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$100.00	USD	2 Qtrs

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$657.49K	USD	2 Qtrs
Unrealized gains on marketable securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$290.51K	USD	1 Quarter
Net income	`NetIncomeLoss`	$796.14K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$525.93K	USD	1 Quarter
Unrealized gains on marketable securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	2 Qtrs
Unrealized gains on marketable securities, net of $0 tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$1.10K	USD	2 Qtrs
Unrealized gains on marketable securities, net of $0 tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$308.00	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$308.00	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.10K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$797.24K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$657.49K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$525.93K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$290.82K	USD	1 Quarter

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