10-K Filing

GENASYS INC. CIK: 924383 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001437749-16-043040`
Period End Date	20160930
Filing Date	20161207
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	lrad-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 34 Cash Flow Statement 54 Stockholders Equity 23 Comprehensive Income 8

Balance Sheet 66 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`	$13.47M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	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`	$1.25M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term marketable securities	`MarketableSecuritiesCurrent`	$2.94M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.12M	USD	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	`AccountsReceivableNetCurrent`	$3.41M	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`	$4.93M	USD	Point-in-time
Inventories, net	`InventoryNet`	$4.76M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$565.67K	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$595.64K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	31.80M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$25.17M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	32.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.18M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	32.90M	shares	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$2.19M	USD	Point-in-time
Long-term marketable securities	`MarketableSecuritiesNoncurrent`	$3.05M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	31.80M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.34M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$8.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$471.96K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$473.34K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$58.38K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$62.91K	USD	Point-in-time
Prepaid expenses and other, noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$391.45K	USD	Point-in-time
Prepaid expenses and other, noncurrent	`PrepaidExpenseAndOtherAssetsNoncurrent`	$578.94K	USD	Point-in-time
Total assets	`Assets`	$39.67M	USD	Point-in-time
Total assets	`Assets`	$36.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$574.57K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$703.94K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.50M	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`	$2.08M	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$165.04K	USD	Point-in-time
Other liabilities, noncurrent	`OtherLiabilitiesNoncurrent`	$147.95K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.72M	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; 31,800,103 and 32,898,461 shares issued and outstanding, respectively	`CommonStockValue`	$318.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized; 31,800,103 and 32,898,461 shares issued and outstanding, respectively	`CommonStockValue`	$329.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$86.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-301.00	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.55K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$34.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.81M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.67M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$15.31M	USD	Annual
Product sales	`SalesRevenueGoodsNet`	$15.80M	USD	Annual
Contract and other	`SalesRevenueServicesNet`	$983.42K	USD	Annual
Contract and other	`SalesRevenueServicesNet`	$1.06M	USD	Annual
Total revenues	`Revenues`	$16.36M	USD	Annual
Total revenues	`Revenues`	$16.78M	USD	Annual
Cost of revenues	`CostOfRevenue`	$8.69M	USD	Annual
Cost of revenues	`CostOfRevenue`	$8.26M	USD	Annual
Gross profit	`GrossProfit`	$7.67M	USD	Annual
Gross profit	`GrossProfit`	$8.53M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.28M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.88M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.03M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.39M	USD	Annual
Total operating expenses	`OperatingExpenses`	$9.26M	USD	Annual
Total operating expenses	`OperatingExpenses`	$7.31M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$1.22M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$-1.59M	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$121.84K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$125.50K	USD	Annual
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.34M	USD	Annual
(Loss) income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.47M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-8.35M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-186.16K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-1.28M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$9.69M	USD	Annual
Net (loss) income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.29	USD	Annual
Net (loss) income per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	31.97M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.17M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.97M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.57M	shares	Annual
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.03	USD	Annual
Cash dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	-	USD	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-1.28M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$9.69M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$167.69K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$238.31K	USD	Annual
Warranty provision	`ProductWarrantyExpense`	$42.65K	USD	Annual
Warranty provision	`ProductWarrantyExpense`	$79.95K	USD	Annual
Inventory Obsolescence Write Down (Recoveries)	`InventoryObsolescenceWriteDownRecoveries`	$159.95K	USD	Annual
Inventory Obsolescence Write Down (Recoveries)	`InventoryObsolescenceWriteDownRecoveries`	$65.69K	USD	Annual
Share-based Compensation	`ShareBasedCompensation`	$605.43K	USD	Annual
Share-based Compensation	`ShareBasedCompensation`	$619.20K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-8.34M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-188.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.29M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.17M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.10M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-2.31K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$29.97K	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`	$-187.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-126.56K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-129.38K	USD	Annual
Payroll and related	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$51.93K	USD	Annual
Payroll and related	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-2.70M	USD	Annual
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$41.34K	USD	Annual
Warranty settlements	`IncreaseDecreaseInWarrantySettlements`	$38.59K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-526.02K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$556.28K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.15M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$135.81K	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$825.79K	USD	Annual
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$4.30M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$162.32K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$344.27K	USD	Annual
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$11.27K	USD	Annual
Patent costs paid	`PaymentsToAcquireIntangibleAssets`	$10.48K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.65M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-999.39K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.56M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.75M	USD	Annual
Proceeds from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	$504.37K	USD	Annual
Proceeds from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	$2.20K	USD	Annual
Common stock cash dividends paid	`PaymentsOfDividendsCommonStock`	$954.65K	USD	Annual
Common stock cash dividends paid	`PaymentsOfDividendsCommonStock`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.70M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.06M	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.85M	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.58M	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.47M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	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`	$13.47M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.32M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.89M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$34.57M	USD	Point-in-time
Balances	`StockholdersEquity`	$28.70M	USD	Point-in-time
Balances	`StockholdersEquity`	$37.95M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$605.43K	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$619.20K	USD	Annual
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1,250.00	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`	$2.20K	USD	Annual
Issuance of common stock upon exercise of stock options, net	`StockIssuedDuringPeriodValueStockOptionsExercised`	$504.37K	USD	Annual
Repurchase of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	734,070.00	shares	Annual
Repurchase of common stock (in shares)	`StockRepurchasedAndRetiredDuringPeriodShares`	1.10M	shares	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.75M	USD	Annual
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.56M	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.25K	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-301.00	USD	Annual
Net income	`NetIncomeLoss`	$-1.28M	USD	Annual
Net income	`NetIncomeLoss`	$9.69M	USD	Annual
Balances	`StockholdersEquity`	$34.57M	USD	Point-in-time
Balances	`StockholdersEquity`	$28.70M	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`	1,250.00	shares	Annual
Issuance of common stock upon exercise of stock options, net (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	396,042.00	shares	Annual
Common stock cash dividends	`DividendsCommonStockCash`	$954.65K	USD	Annual

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-1.28M	USD	Annual
Net (loss) income	`NetIncomeLoss`	$9.69M	USD	Annual
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.25K	USD	Annual
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-301.00	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.25K	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-301.00	USD	Annual
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-1.28M	USD	Annual
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$9.69M	USD	Annual

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