ANALYSTS INTERNATIONAL CORP

CIK:0000006292|SEC Filings

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 29, 2013	Jun. 30, 2012	Jun. 29, 2013	Jun. 30, 2012
Consolidated Statements of Operations
Revenues	$ 25,743	$ 27,079	$ 50,306	$ 53,802
Cost of revenues	19,933	20,827	38,928	41,174
Gross profit	5,810	6,252	11,378	12,628
Selling, administrative and other operating costs	5,281	5,590	10,602	11,776
Restructuring costs and other severance related costs		113	0	113
Total operating expenses	5,281	5,703	10,602	11,889
Operating income	529	549	776	739
Interest expense		(1)	(1)	(2)
Income before income taxes	529	548	775	737
Income tax expense	10	15	27	6
Net income (comprehensive income)	$ 519	$ 533	$ 748	$ 731
Per common share (basic):
Net income (comprehensive income) (in dollars per share)	$ 0.10	$ 0.10	$ 0.15	$ 0.14
Per common share (diluted):
Net income (comprehensive income) (in dollars per share)	$ 0.10	$ 0.10	$ 0.15	$ 0.14
Weighted-average shares outstanding:
Basic (in shares)	5,111	5,075	5,101	5,059
Diluted (in shares)	5,130	5,103	5,119	5,106

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 29, 2013	Jun. 30, 2012
Cash flows from operating activities:
Net income	$ 748	$ 731
Adjustments to net income:
Loss on asset sales and disposals	6
Depreciation	337	314
Share based compensation	150	240
Changes in:
Accounts receivable	(398)	(1,359)
Prepaid expenses and other assets	(501)	68
Accounts payable	(81)	(461)
Salaries and benefits	629	(434)
Deferred revenue	138	15
Deferred compensation	(72)	(106)
Restructuring accrual		(268)
Other accrued liabilities	(25)	(49)
Net cash provided by (used in) operating activities	931	(1,309)
Cash flows from investing activities:
Expended for property and equipment additions	(269)	(760)
Net cash used in investing activities	(269)	(760)
Cash flows from financing activities:
Proceeds from line of credit		5,000
Payments on line of credit		(5,000)
Proceeds from stock option exercises		41
Net cash provided by financing activities		41
Net increase (decrease) in cash and cash equivalents	662	(2,028)
Cash and cash equivalents at beginning of period	5,792	5,135
Cash and cash equivalents at end of period	6,454	3,107
Cash paid during the year for:
Income taxes	15	36
Interest	1	2
Non-cash investing and financing activities:
Capital expenditures included in accounts payable		$ 14

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 29, 2013	Dec. 29, 2012
Current assets:
Cash and cash equivalents	$ 6,454	$ 5,792
Accounts receivable, less allowance for doubtful accounts of $651 and $671, respectively	16,493	16,095
Prepaid expenses and other current assets	837	281
Total current assets	23,784	22,168
Property and equipment, net of accumulated depreciation of $7,418 and $7,492, respectively	2,239	2,366
Other assets	130	185
Total assets	26,153	24,719
Current liabilities:
Accounts payable	2,517	2,651
Salaries and benefits	2,368	1,724
Deferred revenue	469	331
Deferred compensation	48	62
Other current liabilities	508	529
Total current liabilities	5,910	5,297
Non-current liabilities:
Deferred compensation	212	270
Other long-term liabilities		4
Total non-current liabilities	212	274
Shareholders' equity:
Common stock, par value $0.10 a share; authorized 24,000,000 shares; issued and outstanding 5,111,377 and 5,084,155, respectively	511	508
Additional capital	26,776	26,644
Accumulated deficit	(7,256)	(8,004)
Total shareholders' equity	20,031	19,148
Total liabilities and shareholders' equity	$ 26,153	$ 24,719