DGT Holdings Corp.

CIK:0000027748|SEC Filings

Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Oct. 27, 2012	Oct. 29, 2011
SALES	$ 189
COST OF SALES	76
GROSS MARGIN	113
General and administrative	629	619
Total operating expenses	629	619
OPERATING LOSS	(516)	(619)
Interest income	47	44
Interest expense	(35)	(45)
Other income	(41)
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(545)	(620)
Income tax provision	25
LOSS FROM CONTINUING OPERATIONS	(570)	(620)
Discontinued operations, net of income tax	(344)	820
Gain on disposal of discontinued operations, net of income tax	8,795
NET INCOME	7,881	200
Loss from continuing operations (in Dollars per share)	$ (0.15)	$ (0.16)
Income from discontinued operations (in Dollars per share)	$ 2.19	$ 0.21
Net income (in Dollars per share)	$ 2.04	$ 0.05
Weighted average shares outstanding (in Shares)	3,856,171	3,867,572
NET INCOME	7,881	200
Other comprehensive income (loss), net of $0 income taxes:
Net unrealized gain on securities held for sale	1,235
Foreign currency translation adjustments	190	(1,203)
Total other comprehensive income (loss)	1,425	(1,203)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 9,306	$ (1,003)

Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Oct. 27, 2012	Oct. 29, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,881	$ 200
Adjustments to reconcile net income to net cash used in operating activities:
Gain on sale of discontinued operations	(8,795)
Depreciation and amortization	54
Deferred income tax provision	(8)
Stock based compensation expense	238	108
Changes in operating assets and liabilities, excluding dispositions:
Prepaid expenses and other current assets	59	34
Other assets	50	6
Accounts payable – trade		(51)
Accrued expenses	(1,354)	(198)
Discontinued operations	298	(287)
Net cash used in operating activities	(1,577)	(188)
CASH FLOWS FROM INVESTING ACTIVITIES
Property plant and equipment purchases	(46)
Purchases of securities held for sale	(27,566)
Discontinued operations		(48)
Proceeds from sale of discontinued operations	11,311
Restricted cash held in escrow	(1,007)
Net cash used in investing activities	(17,308)	(48)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	(20)	(17)
Restricted cash to secure mortgage	(3)
Discontinued operations		(109)
Net cash used in financing activities	(23)	(126)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	21	(258)
CASH AND CASH EQUIVALENTS DECREASE FOR THE PERIOD	(18,887)	(620)
CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD	38,169	23,629
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	19,282	23,009
Cash paid for
Interest	29	43
Income taxes	$ 1

Balance Sheets (October 27, 2012 Unaudited) (USD $) In Thousands, unless otherwise specified	Oct. 27, 2012	Jul. 28, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 19,282	$ 38,169
Restricted cash	3,438	2,428
Securities held for sale	33,160	4,359
Prepaid expenses and other current assets	99	158
Current assets of discontinued operations		3,125
Total current assets	55,979	48,239
NON-CURRENT ASSETS:
Property plant and equipment, net	3,543	3,428
Promissory note receivable	646	614
Other assets	68	73
Non-current assets of discontinued operations		443
Total non-current assets	4,257	4,558
TOTAL ASSETS	60,236	52,797
CURRENT LIABILITIES:
Current portion of long-term debt	82	82
Accounts payable – trade	11	11
Accrued expenses	852	1,951
Current liabilities of discontinued operations		1,002
Total current liabilities	945	3,046
NON-CURRENT LIABILITIES:
Long-term debt, less current portion	2,258	2,278
Deferred income taxes	474	458
Total non-current liabilities	2,732	2,736
Total liabilities	3,677	5,782
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Authorized 100,000,000; October 27, 2012 and July 28, 2012, respectively; issued-4,082,157 and 4,042,157 at October 27, 2012 and July 28, 2012, respectively	408	404
Additional paid-in capital	98,408	98,174
Treasury shares – 202,689 shares, at cost, at October 27, 2012 and July 28, 2012	(7,429)	(7,429)
Accumulated other comprehensive income (loss)	1,347	(78)
Accumulated deficit	(36,175)	(44,056)
Total shareholders' equity	56,559	47,015
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 60,236	$ 52,797