EZENIA INC

CIK:0000943894|SEC Filings

Earnings Per Share	6 Months Ended
Jun. 30, 2011
Earnings Per Share	6. Earnings Per Share The number of shares utilized in the calculation of basic and diluted earnings per share were the same for each period presented. For both the three and six months ended June 30, 2011, 2,299,376 incremental shares of common stock were not included in the calculation of diluted earnings per share because the options' exercise prices were greater than the average market price of the Company’s common stock for the relevant period. For both the three and six months ended June 30, 2010, 3,153,272 incremental shares of common stock were not included in the calculation of diluted earnings per share because the options' exercise prices were greater than the average market price of the Company’s common stock for the relevant period.

Earnings Per Share

6 Months Ended

Jun. 30, 2011

6. Earnings Per Share

The number of shares utilized in the calculation of basic and diluted earnings per share were the same for each period presented. For both the three and six months ended June 30, 2011, 2,299,376 incremental shares of common stock were not included in the calculation of diluted earnings per share because the options' exercise prices were greater than the average market price of the Company’s common stock for the relevant period. For both the three and six months ended June 30, 2010, 3,153,272 incremental shares of common stock were not included in the calculation of diluted earnings per share because the options' exercise prices were greater than the average market price of the Company’s common stock for the relevant period.

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Operating activities
Net loss	$ (1,828)	$ (1,511)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	43	68
Stock-based compensation	89	290
Reversal of bad debt reserve	0	(19)
(Gain) Loss on marketable securities	(7)	16
Changes in operating assets and liabilities:
Accounts receivable	269	(8)
Prepaid software licenses	160	(366)
Prepaid expenses and other current assets	55	57
Accounts payable, accrued expenses, employee and compensation benefits and accrued restructuring	(22)	212
Deferred revenue	130	1,451
Net cash used in operating activities	(1,111)	190
Investing activities
Purchases of equipment and improvements	0	(8)
Deposits	0	(14)
Capitalized software development costs	0	(130)
Net cash used in investing activities	0	(152)
Financing Activities
Proceeds from stock issued under employee benefit plans	0	95
Net cash provided by financing activities	0	95
Change in cash and cash equivalents	(1,111)	133
Cash and cash equivalents at beginning of period	1,759	4,203
Cash and cash equivalents at end of period	$ 648	$ 4,336

Condensed Consolidated Balance Sheets (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Current assets
Cash and cash equivalents	$ 648	$ 1,759
Marketable securities	206	199
Accounts receivable	206	199
Prepaid software licenses, net	361	629
Prepaid expenses and other current assets	73	128
Total current assets	1,393	3,089
Deposits	29	29
Capitalized software, net	87	109
Prepaid software licenses, net of reserve and current portion	504	396
Equipment and improvements, net	41	62
Total assets	1,956	3,685
Current liabilities
Accounts payable	199	274
Accrued expenses	389	761
Accrued employee compensation and benefits	638	238
Accrued restructuring	111	86
Current portion of deferred revenue	1,531	1,226
Total current liabilities	2,868	2,585
Deferred revenue, net of current portion	313	488
Total liabilities	3,181	3,073
Stockholders’ (deficit) equity
Preferred stock, $.01 par value, 2,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $.01 par value, 40,000,000 shares authorized,16,362,589 issued and 15,601,601 outstanding at June 30, 2011 and December 31,2010	163	163
Capital in excess of par value	67,107	67,018
Accumulated deficit	(65,452)	(63,624)
Treasury stock at cost, 759,537 shares	(2,945)	(2,945)
Total stockholders' (deficit) equity	(1,127)	612
Total liabilities and stockholders' (deficit) equity	$ 2,054	$ 3,685