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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 2,892,000 $ 4,473,000
Accounts receivable, net 9,353,000 7,174,000
Inventories 9,921,000 11,296,000
Deferred tax assets 1,817,000 1,932,000
Other current assets 688,000 437,000
Total current assets 24,671,000 25,312,000
Fixed assets, net 2,552,000 2,507,000
Goodwill 2,621,000 2,621,000
Deferred tax assets 1,215,000 1,213,000
Intangible assets, net of accumulated amortization of $2,861 and $2,779, respectively 806,000 888,000
Other assets 28,000 28,000
7,222,000 7,257,000
Total assets 31,893,000 32,569,000
Current liabilities:    
Accounts payable 3,948,000 2,642,000
Accrued liabilities 1,635,000 2,838,000
Income taxes payable 76,000 245,000
Deferred revenue 221,000 604,000
Total current liabilities 5,880,000 6,329,000
Deferred revenue, net of current portion 80,000 77,000
Deferred rent, net of current portion 186,000 189,000
Other liabilities 289,000 246,000
555,000 512,000
Total liabilities 6,435,000 6,841,000
Shareholders’ equity:    
Common stock, $0.01 par value, 20,000,000 shares authorized; 11,181,581 and 11,170,881 shares issued, respectively; 7,729,922 and 7,782,292 shares outstanding, respectively 112,000 112,000
Additional paid-in capital 29,163,000 28,921,000
Retained earnings 22,958,000 22,956,000
Accumulated other comprehensive loss, net of tax (84,000) (80,000)
Treasury stock, at cost, 3,451,659 and 3,388,589 shares respectively (26,691,000) (26,181,000)
Total shareholders’ equity 25,458,000 25,728,000
Total liabilities and shareholders’ equity $ 31,893,000 $ 32,569,000