INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC
CIK:0000354813|SEC Filings
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Oct. 31, 2014
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Oct. 31, 2013
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Oct. 31, 2014
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Oct. 31, 2013
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| Revenues: | ||||
| Sales of products | $ 740 | $ 8,715 | $ 3,297 | $ 16,025 |
| Services | 363 | 259 | 679 | 715 |
| Total revenues | 1,103 | 8,974 | 3,976 | 16,740 |
| Cost of sales: | ||||
| Cost of product sales | 812 | 4,820 | 2,700 | 10,746 |
| Cost of services | 79 | 107 | 182 | 238 |
| Total cost of sales | 891 | 4,927 | 2,882 | 10,984 |
| Gross profit | 212 | 4,047 | 1,094 | 5,756 |
| Research and development expenses | 162 | 0 | 312 | 0 |
| Selling, general and administrative expenses | 646 | 836 | 1,303 | 1,424 |
| (Loss) income from operations | (596) | 3,211 | (521) | 4,332 |
| Other income: | ||||
| Interest and dividend income | 0 | 0 | 0 | 1 |
| Other | 0 | 0 | 1 | 0 |
| (Loss) income before (benefit) provision for income taxes | (596) | 3,211 | (520) | 4,333 |
| (Benefit) provision for income taxes | (3) | 1,247 | 3 | 1,699 |
| Net (loss) income | $ (593) | $ 1,964 | $ (523) | $ 2,634 |
| Net (loss) income per share: | ||||
| Basic (in dollars per share) | $ (0.05) | $ 0.15 | $ (0.04) | $ 0.20 |
| Weighted average shares used in computation of net (loss) income per share: | ||||
| Basic (in shares) | 12,963 | 12,963 | 12,963 | 12,963 |
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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Thousands, unless otherwise specified |
Oct. 31, 2014
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Apr. 30, 2014
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|---|---|---|---|---|---|
| Current assets: | |||||
| Cash and cash equivalents | $ 10,320 | $ 10,444 | [1] | ||
| Accounts receivable, net of allowance for doubtful accounts of $75 | 219 | 712 | [1] | ||
| Costs and estimated earnings in excess of billings on uncompleted contracts | 17 | 0 | [1] | ||
| Deferred cost of revenues | 3 | 3 | [1] | ||
| Inventories | 1,700 | 1,398 | [1] | ||
| Other current assets | 409 | 217 | [1] | ||
| Total current assets | 12,668 | 12,774 | [1] | ||
| Equipment, furniture and fixtures, net | 547 | 612 | [1] | ||
| Other noncurrent assets | 49 | 49 | [1] | ||
| Total assets | 13,264 | 13,435 | [1] | ||
| Current liabilities: | |||||
| Accounts payable | 839 | 397 | [1] | ||
| Accrued payroll and related taxes | 442 | 640 | [1] | ||
| Warranty reserves | 97 | 188 | [1] | ||
| Payable to Parent | 152 | 152 | [1] | ||
| Other current liabilities | 248 | 41 | [1] | ||
| Deferred revenues | 463 | 470 | [1] | ||
| Total current liabilities | 2,241 | 1,888 | [1] | ||
| Long-term liabilities | 10 | 11 | [1] | ||
| Total liabilities | 2,251 | 1,899 | [1] | ||
| Commitments and contingencies | [1] | ||||
| Shareholders' equity: | |||||
| Preferred shares, no par value; 20,000 shares authorized; no shares issued or outstanding | 0 | 0 | [1] | ||
| Common shares, no par value; 50,000 shares authorized; 12,963 shares issued and outstanding | 56,370 | 56,370 | [1] | ||
| Accumulated deficit | (45,357) | (44,834) | [1] | ||
| Total shareholders' equity | 11,013 | 11,536 | [1] | ||
| Total liabilities and shareholders' equity | $ 13,264 | $ 13,435 | [1] | ||
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