001-32644
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59-34862971
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(Commission File Number) | (I.R.S. Employer Identification No.) |
7100 Technology Drive, West Melbourne, FL | 32904 |
(Address of principal executive offices)
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(Zip Code)
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Exhibit No.
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Description of Exhibit
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|
Press Release dated May 6, 2015
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RELM WIRELESS CORPORATION | |||
Date: May 6, 2015
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By:
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/s/ William P. Kelly | |
William P. Kelly, Executive Vice President and Chief Financial Officer
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|||
Three Months Ended
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||||||||
March 31,
2015
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March 31,
2014
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|||||||
Sales, net
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$ | 8,577 | $ | 7,824 | ||||
Expenses
|
||||||||
Cost of products
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4,894 | 4,678 | ||||||
Selling, general and administrative
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2,943 | 2,546 | ||||||
Total expenses
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7,837 | 7,224 | ||||||
Operating income
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740 | 600 | ||||||
Other income:
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||||||||
Other income
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3 | 1 | ||||||
Total other expense
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3 | 1 | ||||||
Income before income taxes
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743 | 601 | ||||||
Income tax expense
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(205 | ) | (126 | ) | ||||
Net income
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$ | 538 | $ | 475 | ||||
Net income per share-basic:
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$ | 0.04 | $ | 0.03 | ||||
Net income per share-diluted:
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$ | 0.04 | $ | 0.03 | ||||
Weighted average shares outstanding-basic
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13,671,436 | 13,623,220 | ||||||
Weighted average shares outstanding-diluted
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13,857,207 | 13,711,967 |
March 31,
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December 31,
|
|||||||
2015
|
2014
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
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$ | 10,685 | $ | 11,363 | ||||
Trade accounts receivable (net of allowance for doubtful accounts of $49 at March 31, 2015 and December 31, 2014, respectively)
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5,747 | 3,266 | ||||||
Inventories, net
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11,550 | 12,112 | ||||||
Deferred tax assets
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3,468 | 3,743 | ||||||
Prepaid expenses and other current assets
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1,680 | 1,921 | ||||||
Total current assets
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33,130 | 32,405 | ||||||
Property, plant and equipment, net
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1,269 | 1,282 | ||||||
Deferred tax assets, net
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2,360 | 2,290 | ||||||
Capitalized software, net
|
650 | 753 | ||||||
Other assets
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242 | 256 | ||||||
Total assets
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$ | 37,651 | $ | 36,986 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
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$ | 1,506 | $ | 1,403 | ||||
Accrued compensation and related taxes
|
1,285 | 1,246 | ||||||
Accrued warranty expense
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414 | 384 | ||||||
Accrued other expenses and other current liabilities
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143 | 217 | ||||||
Deferred revenue
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128 | 291 | ||||||
Total current liabilities
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3,476 | 3,541 | ||||||
Deferred revenue
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356 | 212 | ||||||
Total liabilities
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$ | 3,832 | $ | 3,753 | ||||
Commitments and contingencies
|
||||||||
Stockholders' equity:
|
||||||||
Preferred stock; $1.00 par value; 1,000,000 authorized shares none issued or outstanding.
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— | — | ||||||
Common stock; $.60 par value; 20,000,000 authorized shares: 13,690,760 and 13,665,087 issued and outstanding shares at March 31, 2015 and December 31, 2014, respectively
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8,214 | 8,199 | ||||||
Additional paid-in capital
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24,849 | 24,816 | ||||||
Retained earnings
|
756 | 218 | ||||||
Total stockholders' equity
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33,819 | 33,233 | ||||||
Total liabilities and stockholders' equity
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$ | 37,651 | $ | 36,986 |
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