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Investor Relations

Financial Statements

  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update)
Cash & Equivalents 7.32 10.80
Short Term Investments 0.00 0.00
Cash and Short Term Investments 7.32 10.80
Accounts Receivable - Trade, Gross 11.53 14.36
Provision for Doubtful Accounts -0.10 -0.41
Accounts Receivable - Trade, Net 11.43 13.96
Total Receivables, Net 11.43 13.96
Total Inventory 1.08 0.00
Prepaid Expenses 1.00 0.85
Restricted Cash - Current 4.31 4.30
Deferred Income Tax - Current Asset 0.00 0.00
Other Current Assets, Total 4.31 4.30
Total Current Assets 25.14 29.91
Buildings - Gross 0.88 0.88
Machinery/Equipment - Gross 13.37 12.33
Construction in Progress - Gross 1.48 0.81
Other Property/Plant/Equipment - Gross 3.10 3.83
Property/Plant/Equipment, Total - Gross 18.83 17.85
Accumulated Depreciation, Total -12.98 -12.00
Property/Plant/Equipment, Total - Net 5.85 5.85
Goodwill, Net 0.00 0.00
Intangibles - Gross 28.14 47.31
Accumulated Intangible Amortization -24.51 -42.57
Intangibles, Net 3.63 4.73
LT Investment - Affiliate Companies 0.00 0.00
LT Investments - Other 0.00 0.00
Long Term Investments 0.00 0.00
Deferred Income Tax - Long Term Asset 0.00 0.00
Other Long Term Assets 0.52 0.64
Other Long Term Assets, Total 0.52 0.64
Total Assets 35.13 41.13
Accounts Payable 7.71 7.23
Accrued Expenses 2.76 3.28
Notes Payable/Short Term Debt 10.00 10.19
Current Portion of Long Term Debt/Capital Leases 0.06 1.45
Customer Advances 0.08 0.09
Other Current Liabilities 0.33 0.30
Other Current liabilities, Total 0.41 0.40
Total Current Liabilities 20.94 22.54
Long Term Debt 0.00 0.06
Total Long Term Debt 0.00 0.06
Total Debt 10.07 11.69
Other Long Term Liabilities 1.43 2.19
Other Liabilities, Total 1.43 2.19
Total Liabilities 22.38 24.79
Preferred Stock - Non Redeemable 0.00 0.00
Preferred Stock - Non Redeemable, Net 0.00 0.00
Common Stock 0.01 0.01
Common Stock, Total 0.01 0.01
Additional Paid-In Capital 368.17 366.09
Retained Earnings (Accumulated Deficit) -355.42 -349.77
Total Equity 12.76 16.34
Total Liabilities & Shareholders' Equity 35.13 41.13
Shares Outstanding – Common Stock Primary Issue 13.49 13.17
Total Common Shares Outstanding 13.49 13.17
Treasury Shares – Common Primary Issue 0.00 0.00
Employees 162.00 149.00
Number of Common Shareholders 147.00 152.00
Accumulated Intangible Amortization 24.51 42.57
Deferred Revenue - Current 0.08 0.09
Total Current Assets less Inventory 24.06 29.91
Quick Ratio 1.15 1.33
Current Ratio 1.20 1.33
Net Debt 2.75 0.89
Tangible Book Value 9.12 11.60
Tangible Book Value per Share 0.68 0.88
Total Long Term Debt, Supplemental 0.06 1.51
Long Term Debt Maturing within 1 Year 0.06 1.45
Long Term Debt Maturing in Year 2 0.00 0.03
Long Term Debt Maturing in Year 3 0.00 0.03
Long Term Debt Maturing in Year 4 0.00 0.00
Long Term Debt Maturing in Year 5 0.00 0.00
Long Term Debt Maturing in 2-3 Years 0.00 0.06
Long Term Debt Maturing in 4-5 Years 0.00 0.00
Long Term Debt Maturing in Year 6 & Beyond 0.00 0.00
Total Operating Leases 2.21 3.21
Operating Lease Payments Due in Year 1 0.90 1.19
Operating Lease Payments Due in Year 2 0.81 0.88
Operating Lease Payments Due in Year 3 0.53 0.80
Operating Lease Payments Due in Year 4 0.20 0.53
Operating Lease Payments Due in Year 5 0.00 0.20
Operating Lease Payments Due in 2-3 Years 1.33 1.68
Operating Lease Payments Due in 4-5 Years 0.20 0.72
Standardized Operating Lease Payments Due in Year 6 and Beyond -0.21 -0.38
  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 71.59 76.57 113.98
Revenue 71.59 76.57 113.98
Total Revenue 71.59 76.57 113.98
Cost of Revenue 51.25 52.89 91.41
Cost of Revenue, Total 51.25 52.89 91.41
Gross Profit 20.33 23.68 22.57
Selling/General/Administrative Expense 18.67 19.02 22.48
Labor & Related Expense 1.82 1.90 2.21
Selling/General/Administrative Expenses, Total 20.49 20.92 24.69
Research & Development 5.65 6.57 8.85
Depreciation 0.65 1.71 4.37
Depreciation/Amortization 0.65 1.71 4.37
Litigation -- -- --
Impairment-Assets Held for Use -- 0.00 0.00
Other Unusual Expense (Income) -- -- --
Unusual Expense (Income) -- 0.00 0.00
Total Operating Expense 78.05 82.09 129.32
Operating Income -6.47 -5.52 -15.34
Interest Expense - Non-Operating -- -- --
Interest Expense, Net Non-Operating -- -- --
Investment Income, Non-Operating -- -- --
Interest/Investment Income, Non-Operating -- -- --
Interest Income (Expense), Net Non-Operating -1.01 -1.52 0.12
Interest Income (Expense), Net-Non-Operating, Total -1.01 -1.52 0.12
Gain (Loss) on Sale of Assets -- -- --
Other Non-Operating Income (Expense) 1.82 0.24 --
Other, Net 1.82 0.24 --
Net Income Before Taxes -5.66 -6.81 -15.22
Income Tax – Total 0.00 0.01 0.01
Income After Tax -5.66 -6.82 -15.23
Net Income Before Extraordinary Items -5.66 -6.82 -15.23
Extraordinary Item -- -- 0.00
Total Extraordinary Items -- -- 0.00
Net Income -5.66 -6.82 -15.23
Income Available to Common Excluding Extraordinary Items -5.66 -6.82 -15.23
Income Available to Common Stocks Including Extraordinary Items -5.66 -6.82 -15.23
Basic Weighted Average Shares 13.30 13.14 13.07
Basic EPS Excluding Extraordinary Items -0.43 -0.52 -1.17
Basic EPS Including Extraordinary Items -0.43 -0.52 -1.17
Dilution Adjustment -- -- --
Diluted Net Income -5.66 -6.82 -15.23
Diluted Weighted Average Shares 13.30 13.14 13.07
Diluted EPS Excluding Extraordinary Items -0.43 -0.52 -1.17
Diluted EPS Including Extraordinary Items -0.43 -0.52 -1.17
DPS - Common Stock Primary Issue -- -- --
Gross Dividends - Common Stock 0.00 0.00 0.00
Total Special Items -- 0.00 0.00
Normalized Income Before Taxes -5.66 -6.81 -15.22
Effect of Special Items on Income Taxes -- 0.00 0.00
Income Taxes Excluding Impact of Special Items 0.00 0.01 0.01
Normalized Income After Taxes -5.66 -6.82 -15.23
Normalized Income Available to Common -5.66 -6.82 -15.23
Basic Normalized EPS -0.43 -0.52 -1.17
Diluted Normalized EPS -0.43 -0.52 -1.17
Amortization of Intangibles, Supplemental 1.50 2.40 4.90
Depreciation, Supplemental 1.00 1.30 1.60
Interest Expense, Supplemental -- -- --
Rental Expense, Supplemental 1.20 1.70 2.03
Stock-Based Compensation, Supplemental 1.85 1.98 2.40
Research & Development Expense, Supplemental 5.65 6.57 8.85
Audit-Related Fees, Supplemental -- 0.54 0.53
Audit-Related Fees -- 0.01 0.01
Tax Fees, Supplemental -- 0.01 0.01
All Other Fees Paid to Auditor, Supplemental -- -- --
Gross Margin 28.40 30.93 19.80
Operating Margin -9.03 -7.21 -13.46
Pretax Margin -7.91 -8.89 -13.35
Effective Tax Rate -- -- --
Net Profit Margin -7.91 -8.91 -13.36
Normalized EBIT -6.47 -5.52 -15.34
Normalized EBITDA -3.97 -1.82 -8.84
Current Tax - Domestic 0.00 -- 0.00
Current Tax - Foreign 0.00 -- 0.00
Current Tax - Local 0.00 0.01 0.01
Current Tax - Total 0.00 0.01 0.01
Deferred Tax - Domestic 1.22 -0.56 -2.07
Deferred Tax - Foreign 0.00 -- 0.00
Deferred Tax - Local 0.32 -0.16 -0.42
Deferred Tax - Total 1.53 -0.72 -2.48
Other Tax -1.53 0.72 2.48
Income Tax - Total 0.00 0.01 0.01
Defined Contribution Expense - Domestic -- 0.10 0.30
Total Pension Expense -- 0.10 0.30
Traffic Acquisition Costs (TAC) -- -- --
  Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Income/Starting Line -5.66 -6.82 -15.23
Depreciation – Supplemental 2.48 3.62 6.45
Depreciation/Depletion 2.48 3.62 6.45
Deferred Taxes -- --
Unusual Items -- 0.01 -0.19
Other Non-Cash Items 0.20 2.54 2.94
Non-Cash Items 0.20 2.54 2.75
Accounts Receivable 2.70 9.72 2.30
Inventories -1.08
Prepaid Expenses -0.15 0.42 -0.02
Other Assets 0.13 0.02 -0.15
Accounts Payable 0.31 -7.28 -3.49
Accrued Expenses -0.34 -0.33 -2.03
Other Liabilities
Other Operating Cash Flow --
Changes in Working Capital 1.56 2.56 -3.39
Cash from Operating Activities -1.42 1.90 -9.42
Purchase of Fixed Assets -1.72 -0.60 -1.64
Purchase/Acquisition of Intangibles -0.33 --
Capital Expenditures -2.04 -0.60 -1.64
Acquisition of Business
Sale/Maturity of Investment -- 0.25
Investment, Net
Purchase of Investments --
Other Investing Cash Flow Items, Total -- 0.25
Cash from Investing Activities -2.04 -0.60 -1.39
Other Financing Cash Flow
Financing Cash Flow Items
Sale/Issuance of Common -- --
Repurchase/Retirement of Common --
Common Stock, Net -- --
Sale/Issuance of Preferred
Preferred Stock, Net
Options Exercised 0.23 0.08 0.41
Warrants Converted
Issuance (Retirement) of Stock, Net 0.23 0.08 0.41
Short Term Debt Issued 73.72 99.64 73.97
Short Term Debt Reduction -73.90 -93.20 -70.22
Short Term Debt, Net -0.18 6.44 3.75
Long Term Debt Issued -- 1.38
Long Term Debt Reduction -0.06 -0.04 -1.00
Long Term Debt, Net -0.06 1.34 -1.00
Issuance (Retirement) of Debt, Net -0.25 7.78 2.75
Cash from Financing Activities -0.02 7.86 3.15
Net Change in Cash -3.48 9.16 -7.65
Net Cash - Beginning Balance 15.11 5.95 13.60
Net Cash - Ending Balance 11.63 15.11 5.95
Cash Interest Paid 0.87 0.85 0.18
Cash Taxes Paid 0.00 0.85 0.01