10-K Filing

GENASYS INC. CIK: 924383 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001437749-15-021734`
Period End Date	20150930
Filing Date	20151203
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	lrad-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 68 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	-	USD	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$1.25M	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	`AccountsReceivableNetCurrent`	$2.12M	USD	Point-in-time
Accounts receivable	`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`	$4.93M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.90M	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
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$523.95K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$565.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.60M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.24M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	32.90M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	32.90M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.24M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$3.05M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$471.96K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$360.08K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$58.38K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$53.84K	USD	Point-in-time
Prepaid expenses and other, noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$578.94K	USD	Point-in-time
Prepaid expenses and other, noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$766.42K	USD	Point-in-time
Total assets	`Assets`	$33.78M	USD	Point-in-time
Total assets	`Assets`	$39.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$830.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$703.94K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.09M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$870.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.57M	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`	$147.95K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.08M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`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; 32,898,461 and 33,236,489 shares issued and outstanding	`CommonStockValue`	$329.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 32,898,461 and 33,236,489 shares issued and outstanding	`CommonStockValue`	$332.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$88.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.66M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-301.00	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.67M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$15.80M	USD	Annual
Product sales	`SalesRevenueGoodsNet`	$23.38M	USD	Annual
Contract and other	`SalesRevenueServicesNet`	$1.21M	USD	Annual
Contract and other	`SalesRevenueServicesNet`	$983.42K	USD	Annual
Total revenues	`Revenues`	$16.78M	USD	Annual
Total revenues	`Revenues`	$24.59M	USD	Annual
Cost of revenues	`CostOfRevenue`	$10.83M	USD	Annual
Cost of revenues	`CostOfRevenue`	$8.26M	USD	Annual
Gross profit	`GrossProfit`	$13.76M	USD	Annual
Gross profit	`GrossProfit`	$8.53M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.28M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.96M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.03M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.48M	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.44M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.31M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$3.32M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.22M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$20.52K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$121.84K	USD	Annual
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.34M	USD	Annual
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.34M	USD	Annual
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$16.25K	USD	Annual
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-8.35M	USD	Annual
Net income	`NetIncomeLoss`	$3.33M	USD	Annual
Net income	`NetIncomeLoss`	$9.69M	USD	Annual
Net income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.29	USD	Annual
Net income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.10	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.08M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.17M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.44M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.57M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.33M	USD	Annual
Net income	`NetIncomeLoss`	$9.69M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$238.31K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$209.97K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-3.77K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Warranty provision	`ProductWarrantyExpense`	$42.65K	USD	Annual
Warranty provision	`ProductWarrantyExpense`	$157.82K	USD	Annual
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$36.97K	USD	Annual
Inventory obsolescence	`InventoryObsolescenceWriteDownRecoveries`	$65.69K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$619.20K	USD	Annual
Share-based compensation	`ShareBasedCompensation`	$585.75K	USD	Annual
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	$6.98K	USD	Annual
Loss on sale or impairment of patents	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	-	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-8.34M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-678.25K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.17M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.10M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-655.05K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-479.93K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$41.72K	USD	Annual
Prepaid expenses and other, noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-187.49K	USD	Annual
Prepaid expenses and other, noncurrent	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-148.09K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-765.91K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-126.56K	USD	Annual
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$56.27K	USD	Annual
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$41.34K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.94M	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.23M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$135.81K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.40M	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$4.30M	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	-	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$326.96K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$344.27K	USD	Annual
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$10.48K	USD	Annual
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$14.89K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.65M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-341.85K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$516.35K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.56M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$544.89K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$504.37K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$28.54K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.06M	USD	Annual
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.09M	USD	Annual
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.58M	USD	Annual
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`	$18.32M	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`	$18.32M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$14.45K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$28.70M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.76M	USD	Point-in-time
Balances	`StockholdersEquity`	$37.95M	USD	Point-in-time
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	`StockIssuedDuringPeriodSharesStockOptionsExercised`	612,941.00	shares	Annual
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	`StockIssuedDuringPeriodSharesStockOptionsExercised`	396,042.00	shares	Annual
Issuance of common stock upon exercise of stock options, net	`StockIssuedDuringPeriodValueStockOptionsExercised`	$544.89K	USD	Annual
Issuance of common stock upon exercise of stock options, net	`StockIssuedDuringPeriodValueStockOptionsExercised`	$504.37K	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$619.20K	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$585.75K	USD	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.56M	USD	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$516.35K	USD	Annual
Net income	`NetIncomeLoss`	$3.33M	USD	Annual
Net income	`NetIncomeLoss`	$9.69M	USD	Annual
Balances	`StockholdersEquity`	$28.70M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.76M	USD	Point-in-time
Balances	`StockholdersEquity`	$37.95M	USD	Point-in-time
Issuance of common stock upon exercise of stock options, net (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	612,941.00	shares	Annual
Issuance of common stock upon exercise of stock options, net (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	396,042.00	shares	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$-301.00	USD	Annual

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.33M	USD	Annual
Net income	`NetIncomeLoss`	$9.69M	USD	Annual
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-301.00	USD	Annual
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-301.00	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.33M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.69M	USD	Annual

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