XATA CORP /MN/

CIK:0000854398|SEC Filings

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue
Software	$ 10,867	$ 11,266	$ 32,465	$ 34,613
Hardware systems	1,689	1,798	5,610	6,569
Services	257	340	825	913
Total revenue	12,813	13,404	38,900	42,095
Costs and expenses
Cost of goods sold	5,049	5,225	15,795	16,577
Selling, general and administrative	4,389	5,094	14,322	15,940
Research and development	3,289	2,873	9,297	8,721
Total costs and expenses	12,727	13,192	39,414	41,238
Operating income (loss)	86	212	(514)	857
Net interest and other expense	(6)	(35)	(52)	(82)
Income (loss) before income taxes	80	177	(566)	775
Income tax (benefit) expense	0	(52)	(6)	51
Net income (loss)	80	229	(560)	724
Preferred stock dividends	(63)	(59)	(183)	(175)
Preferred stock deemed dividends	(5)	0	(5)	0
Net income (loss) to common shareholders	$ 12	$ 170	$ (748)	$ 549
Net income (loss) per common share:
Basic	$ 0.00	$ 0.02	$ (0.07)	$ 0.05
Diluted	$ 0.00	$ 0.01	$ (0.07)	$ 0.03
Weighted average common and common share equivalents:
Basic	11,159	10,858	11,043	10,831
Diluted	12,184	28,345	11,043	27,766

Supplemental Cash Flow and Non-Cash Information

9 Months Ended

Jun. 30, 2014

The following table summarizes supplemental cash flow and non-cash information (in thousands)



	For the Nine Months Ended
	June 30,
	2014		2013
Supplemental cash flow information:
Cash paid for interest	$	11	$	17
Cash paid for income taxes	148		92

Supplemental non-cash information:
Preferred stock deemed dividends	5		—
Preferred stock dividends	183		175
Preferred stock dividends paid	241		232
Conversion of Series F Preferred Stock into common stock	42		—

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Sep. 30, 2013
Current assets
Cash and cash equivalents	$ 13,017	$ 10,445
Accounts receivable, less allowances of $164 at June 30, 2014 and $151 at September 30, 2013	6,629	6,864
Inventories	1,156	1,710
Deferred product costs	426	625
Prepaid expenses and other current assets	1,639	1,417
Total current assets	22,867	21,061
Equipment, leased equipment and leasehold improvements, net	4,234	5,980
Intangible assets, net	3,221	4,578
Goodwill	16,199	16,640
Deferred product costs, net of current portion	112	213
Other assets	532	667
Total assets	47,165	49,139
Current liabilities
Accounts payable	3,118	2,885
Accrued expenses	3,236	4,560
Deferred revenue	1,648	1,886
Total current liabilities	8,002	9,331
Deferred revenue, net of current portion	225	496
Other long-term liabilities	13	62
Total liabilities	8,240	9,889
Shareholders' equity
Preferred stock, no par value, 50,000 shares authorized; 17,500 shares designated; shares issued and outstanding: 16,666 at June 30, 2014 and 16,590 at September 30, 2013	44,728	44,524
Common stock, par value $0.01 per share; 100,000 shares authorized; shares issued and outstanding: 11,221 at June 30, 2014 and 10,900 at September 30, 2013	112	109
Additional paid-in capital	51,445	50,674
Accumulated deficit	(57,436)	(56,688)
Accumulated other comprehensive income	76	631
Total shareholders' equity	38,925	39,250
Total liabilities and shareholders' equity	$ 47,165	$ 49,139