10-Q Filing

GENASYS INC. CIK: 924383 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-015071`
Period End Date	20150630
Filing Date	20150806
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	lrad-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 64 Cash Flow Statement 58 Comprehensive Income 20

Balance Sheet 65 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`	$15.81M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.78M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$1.94M	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	-	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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.74M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.28M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.90M	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
Inventories, net	`InventoryNet`	$5.08M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$599.71K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$32.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.14M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.23M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.24M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.24M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$2.80M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.23M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$360.08K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$455.39K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$52.83K	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`	$625.81K	USD	Point-in-time
Total assets	`Assets`	$33.78M	USD	Point-in-time
Total assets	`Assets`	$32.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$830.50K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.50M	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$157.55K	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$144.69K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.08M	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; 33,226,161and 33,236,489 shares issued and outstanding	`CommonStockValue`	$332.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 33,226,161and 33,236,489 shares issued and outstanding	`CommonStockValue`	$332.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.35M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-397.00	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.43M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.07M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$3.26M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$11.66M	USD	3 Qtrs
Product sales	`SalesRevenueGoodsNet`	$7.62M	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$16.29M	USD	3 Qtrs
Contract and other	`SalesRevenueServicesNet`	$922.91K	USD	3 Qtrs
Contract and other	`SalesRevenueServicesNet`	$249.35K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$382.70K	USD	1 Quarter
Contract and other	`SalesRevenueServicesNet`	$722.12K	USD	3 Qtrs
Total revenues	`Revenues`	$17.21M	USD	3 Qtrs
Total revenues	`Revenues`	$8.00M	USD	1 Quarter
Total revenues	`Revenues`	$12.38M	USD	3 Qtrs
Total revenues	`Revenues`	$3.51M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$7.49M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$6.02M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$2.96M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.72M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.36M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.15M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.54M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.59M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$519.99K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.57M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$622.27K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.81M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.14M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.11M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.72M	USD	3 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$1.94M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$2.59M	USD	3 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$635.54K	USD	3 Qtrs
(Loss) income from operations	`OperatingIncomeLoss`	$-105.08K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$88.99K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$5.13K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$15.41K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$31.86K	USD	1 Quarter
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.60M	USD	3 Qtrs
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$724.53K	USD	3 Qtrs
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-73.21K	USD	1 Quarter
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.94M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$552.00	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-9.27K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-7.67K	USD	3 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$2.25K	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.94M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.60M	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$732.20K	USD	3 Qtrs
Net (loss) income	`NetIncomeLoss`	$-63.95K	USD	1 Quarter
Net (loss) income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net (loss) income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.08	USD	3 Qtrs
Net (loss) income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.06	USD	1 Quarter
Net (loss) income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.07M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.04M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.15M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.21M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.74M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.19M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.34M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.15M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.94M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.60M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$732.20K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-63.95K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$182.57K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$147.53K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$5.72K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	3 Qtrs
Warranty provision	`ProductWarrantyExpense`	$19.72K	USD	3 Qtrs
Warranty provision	`ProductWarrantyExpense`	$147.89K	USD	3 Qtrs
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$19.03K	USD	3 Qtrs
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$42.29K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$461.72K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$488.96K	USD	3 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	3 Qtrs
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$6.98K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.20M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.55M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$163.28K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.22M	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-454.19K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$75.77K	USD	3 Qtrs
Prepaid expenses and other, noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.61K	USD	3 Qtrs
Prepaid expenses and other, noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-140.62K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$570.07K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-944.13K	USD	3 Qtrs
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$40.98K	USD	3 Qtrs
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$33.26K	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.99M	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.86M	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-622.67K	USD	3 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.93M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$4.74M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$273.48K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$242.48K	USD	3 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$6.35K	USD	3 Qtrs
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$3.38K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.02M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-248.83K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$965.47K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$476.49K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$494.83K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$193.06K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-470.64K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-283.43K	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.11M	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.40M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.81M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.78M	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`	$23.89M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.78M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$325.00	USD	3 Qtrs

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
(Loss) income available to common stockholders	`NetIncomeLoss`	$1.94M	USD	1 Quarter
Unrealized gains on marketable securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	3 Qtrs
Unrealized gains on marketable securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Unrealized gains on marketable securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
(Loss) income available to common stockholders	`NetIncomeLoss`	$2.60M	USD	3 Qtrs
(Loss) income available to common stockholders	`NetIncomeLoss`	$732.20K	USD	3 Qtrs
Unrealized gains on marketable securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	3 Qtrs
(Loss) income available to common stockholders	`NetIncomeLoss`	$-63.95K	USD	1 Quarter
Unrealized gains on marketable securities, net of $0 tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$397.00	USD	3 Qtrs
Unrealized gains on marketable securities, net of $0 tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$701.00	USD	1 Quarter
Unrealized gains on marketable securities, net of $0 tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	3 Qtrs
Unrealized gains on marketable securities, net of $0 tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$-397.00	USD	3 Qtrs
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	3 Qtrs
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$701.00	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-63.25K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$732.60K	USD	3 Qtrs
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$1.94M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$2.60M	USD	3 Qtrs

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