ZYGO CORP

CIK:0000730716|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Net revenue	$ 39,713	$ 34,533	$ 127,992	$ 109,374
Cost of goods sold	21,633	19,273	66,779	61,338
Gross profit	18,080	15,260	61,213	48,036
Selling, general and administrative expenses	10,141	9,362	33,164	26,451
Research, development and engineering expenses	4,742	4,990	14,916	14,073
Operating profit	3,197	908	13,133	7,512
Other miscellaneous income (expense), net	45	(266)	150	(438)
Income before income taxes, including noncontrolling interest	3,242	642	13,283	7,074
Income tax benefit (expense)	(1,331)	504	(4,871)	(2,602)
Net income including noncontrolling interest	1,911	1,146	8,412	4,472
Less: Net income attributable to noncontrolling interest	13	166	305	875
Net income attributable to Zygo Corporation	$ 1,898	$ 980	$ 8,107	$ 3,597
Earnings per share attributable to Zygo Corporation
Basic earnings per share (in Dollars per share)	$ 0.10	$ 0.05	$ 0.43	$ 0.20
Diluted earnings per share (in Dollars per share)	$ 0.10	$ 0.05	$ 0.42	$ 0.19
Weighted average shares outstanding
Basic shares (in Shares)	18,900,329	18,505,621	18,771,281	18,433,765
Diluted shares (in Shares)	19,336,455	19,126,198	19,284,071	19,079,505

Income Taxes (Details) - Schedule of reconciliation of restated cash flow statement to previously reported (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustments to reconcile net income to cash - Deferred income taxes	$ 693	$ (1,942)
Adjustments to reconcile net income to cash - Changes in operating accounts: Accounts payable, accrued expenses and taxes payable	5,497	(4,604)
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided by operating activites - Net income including noncontrolling interest		6,208
Adjustments to reconcile net income to cash - Deferred income taxes		(3,494)
Adjustments to reconcile net income to cash - Changes in operating accounts: Accounts payable, accrued expenses and taxes payable		(4,788)
Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided by operating activites - Net income including noncontrolling interest		4,472
Adjustments to reconcile net income to cash - Deferred income taxes		(1,942)
Adjustments to reconcile net income to cash - Changes in operating accounts: Accounts payable, accrued expenses and taxes payable		$ (4,604)

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2013
Current assets:
Cash and cash equivalents	$ 97,056	$ 83,056
Receivables, net of allowance for doubtful accounts of $279 and $272, respectively	28,893	32,360
Inventories	35,131	30,185
Prepaid expenses, prepaid taxes and other current assets	5,029	5,429
Revenue recognized in excess of billings on uncompleted contracts	2,677	5,342
Deferred income taxes	11,900	8,631
Total current assets	180,686	165,003
Marketable securities	616	662
Property, plant and equipment, net	36,838	34,343
Deferred income taxes	8,214	10,490
Intangible assets, net	4,188	4,615
Total assets	230,542	215,113
Current liabilities:
Accounts payable	10,157	7,170
Progress payments and deferred revenue	4,344	4,538
Billings in excess of costs and estimated earnings on uncompleted contracts	2,832	6,481
Accrued salaries and wages	5,761	3,746
Other accrued expenses	3,517	4,558
Deferred income taxes	122	123
Income taxes payable	1,603	19
Total current liabilities	28,336	26,635
Deferred income taxes	1,568	704
Other long-term liabilities	4,778	3,769
Total liabilities	34,682	31,108
Commitments and contingencies
Equity:
Common stock, $0.10 par value per share: 40,000,000 shares authorized; 21,423,168 shares issued (20,858,158 at June 30, 2013); 18,979,845 shares outstanding (18,532,623 at June 30, 2013)	2,142	2,086
Additional paid-in capital	186,973	181,694
Retained earnings	34,962	26,855
Accumulated other comprehensive income (loss):
Currency translation effects	(253)	(641)
Unrealized gain (loss) on hedge		(16)
Treasury stock, at cost, 2,443,323 shares (2,325,535 at June 30, 2013)	(29,876)	(28,016)
Total shareholders’ equity - Zygo Corporation	193,948	181,962
Noncontrolling interest	1,912	2,043
Total equity	195,860	184,005
Total liabilities and equity	$ 230,542	$ 215,113