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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 2,450,000 $ 3,131,000
Accounts receivable, net 9,937,000 9,094,000
Inventories 12,451,000 11,806,000
Prepaid income taxes   409,000
Deferred tax assets 1,822,000 3,068,000
Other current assets 494,000 489,000
Total current assets 27,154,000 27,997,000
Fixed assets, net 2,346,000 2,438,000
Goodwill 2,621,000 2,621,000
Deferred tax assets 1,113,000 1,068,000
Intangible assets, net of accumulated amortization of $2,684 and $2,326, respectively 983,000 1,341,000
Other assets 23,000 26,000
7,086,000 7,494,000
Total assets 34,240,000 35,491,000
Current liabilities:    
Accounts payable 5,459,000 2,365,000
Accrued liabilities 2,589,000 3,320,000
Income taxes payable 24,000 13,000
Accrued lawsuit settlement expenses   3,625,000
Deferred revenue 176,000 313,000
Total current liabilities 8,248,000 9,636,000
Deferred revenue, net of current portion 68,000 64,000
Deferred rent, net of current portion 112,000 172,000
Other liabilities 203,000 225,000
383,000 461,000
Total liabilities 8,631,000 10,097,000
Shareholders’ equity:    
Common stock, $0.01 par value, 20,000,000 shares authorized; 11,142,381 and 11,122,293 shares issued, respectively; 7,753,792 and 7,900,257 shares outstanding, respectively 111,000 111,000
Additional paid-in capital 28,709,000 28,167,000
Retained earnings 23,046,000 22,349,000
Accumulated other comprehensive loss, net of tax (76,000) (72,000)
Treasury stock, at cost, 3,388,589 and 3,222,036 shares (26,181,000) (25,161,000)
Total shareholders’ equity 25,609,000 25,394,000
Total liabilities and shareholders’ equity $ 34,240,000 $ 35,491,000