Nevada
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001-32644
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59-3486297
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(State
or other jurisdiction of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer Identification
No.)
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7100 Technology Drive, West Melbourne, FL
|
|
32904
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(Address
of principal executive offices)
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(Zip
Code)
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|
RELM
WIRELESS CORPORATION
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Date:
March 1, 2017
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By:
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/s/
William
P. Kelly
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William P. Kelly |
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Executive Vice
President and Chief Financial
Officer
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ExhibitNo.
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Description
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Press
Release dated March 1, 2017.
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RELM WIRELESS CORPORATION
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Condensed Consolidated Statements of Income
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(In Thousands, Except Per Share Amounts)
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||||
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Three Months Ended
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Twelve Months Ended
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(Unaudited)
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12/31/2016
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12/31/2015
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12/31/2016
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12/31/2015
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Sales,
net
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$7,226
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$6,950
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$50,689
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$29,722
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Expenses:
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Cost
of products
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4,200
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4,222
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33,612
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17,440
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Selling,
general and administrative expenses
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2,683
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2,445
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12,792
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10,852
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Total
expenses
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6,883
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6,667
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46,404
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28,292
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|
|
|
|
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Operating
income
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343
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283
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4,285
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1,430
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|
|
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Other income (expense):
|
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Interest
income
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5
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0
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9
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1
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Other
expense
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(30)
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(83)
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(22)
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(45)
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|
|
|
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Income
before income taxes
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318
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200
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4,272
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1,386
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|
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|
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Income
tax (expense) benefit
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(226)
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13
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(1,583)
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(345)
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|
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Net
income
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$92
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$213
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$2,689
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$1,041
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Net
earnings per share - basic
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$0.01
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$0.02
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$0.20
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$0.08
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Net
earnings per share - diluted
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$0.01
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$0.02
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$0.19
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$0.08
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Weighted
average common shares outstanding, basic
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13,733
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13,725
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13,735
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13,706
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Weighted
average common shares outstanding, diluted
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13,816
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13,817
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13,823
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13,848
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RELM WIRELESS CORPORATION
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||
Condensed Consolidated Balance Sheets
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(In Thousands, Except Share Data)
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December 31,
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December 31,
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2016
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2015
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ASSETS
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Current
assets:
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Cash
and cash equivalents
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$10,910
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$4,669
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Trade
accounts receivable, net
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3,448
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4,122
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Inventories,
net
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13,999
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16,282
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Prepaid
expenses and other current assets
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1,410
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3,081
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Total
current assets
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29,767
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28,154
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Property,
plant and equipment, net
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2,486
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1,840
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Available-for-sale
securities
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6,472
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3,402
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Deferred
tax assets, net
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3,418
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5,461
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Capitalized
software, net
|
176
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370
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Other
assets
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225
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222
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Total assets
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$42,544
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$39,449
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LIABILITIES AND
STOCKHOLDERS' EQUITY
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Current
liabilities:
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Accounts
payable
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$1,973
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$2,285
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Accrued
compensation and related taxes
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2,193
|
1,136
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Accrued
warranty expense
|
650
|
538
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Accrued
other expenses and other current liabilities
|
169
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168
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Dividends
payable
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1,235
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-
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Deferred
revenue
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142
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136
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Total
current liabilities
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6,362
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4,263
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Deferred
revenue
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408
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366
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Total
liabilities
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6,770
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4,629
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Commitments
and contingencies
|
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Stockholders'
equity:
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Preferred
stock; $1.00 par value; 1,000,000 authorized
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shares,
none issued or outstanding.
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-
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-
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Common
stock; $0.60 par value; 20,000,000 authorized
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shares;
13,754,749 and 13,730,562 issued and outstanding
shares
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at
December 31, 2016 and 2015, respectively.
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8,253
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8,238
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Additional
paid-in capital
|
25,382
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24,926
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Retained
earnings
|
240
|
1,259
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Accumulated
other comprehensive income
|
2,061
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397
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Treasury
Stock, at cost
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(162)
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-
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Total
stockholders' equity
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35,774
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34,820
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Total liabilities and stockholders' equity
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$42,544
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$39,449
|
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