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
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|
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: May 9, 2017 |
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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Exhibit No.
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Description
|
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Press
Release dated May 9, 2017.
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Three Months Ended
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3/31/2017
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3/31/2016
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|
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Sales,
net
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$7,380
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$12,069
|
|
|
|
Expenses:
|
|
|
Cost
of products
|
5,143
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8,240
|
Selling,
general and administrative expenses
|
3,443
|
3,063
|
Total
expenses
|
8,586
|
11,303
|
|
|
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Operating
(loss) income
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(1,206)
|
766
|
|
|
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Other (expense) income:
|
|
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Net
interest income
|
8
|
1
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Other
(expense) income
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(191)
|
1
|
|
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(Loss)
income before income taxes
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(1,389)
|
768
|
|
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Income
tax benefit (expense)
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121
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(255)
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|
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Net
(loss) income
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$(1,268)
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$513
|
|
|
|
|
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Net
(loss) earnings per share - basic
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$(0.09)
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$0.04
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Net
(loss) earnings per share - diluted
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$(0.09)
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$0.04
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|
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Weighted
average common shares outstanding, basic
|
14,039
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13,731
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Weighted
average common shares outstanding, diluted
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14,039
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13,798
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|
March 31,
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December 31,
|
|
2017
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2016
|
|
(Unaudited)
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ASSETS
|
|
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Current
assets:
|
|
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Cash
and cash equivalents
|
$8,325
|
$10,910
|
Trade
accounts receivable, net
|
3,288
|
3,448
|
Inventories,
net
|
14,751
|
13,999
|
Prepaid
expenses and other current assets
|
1,042
|
1,410
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Total
current assets
|
27,406
|
29,767
|
|
|
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Property,
plant and equipment, net
|
2,506
|
2,486
|
Available-for-sale
securities
|
9,673
|
6,472
|
Deferred
tax assets, net
|
2,398
|
3,418
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Other
assets
|
371
|
401
|
|
|
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Total assets
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$42,354
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$42,544
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|
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LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
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Current
liabilities:
|
|
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Accounts
payable
|
$2,647
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$1,973
|
Accrued
compensation and related taxes
|
1,281
|
2,193
|
Accrued
warranty expense
|
846
|
650
|
Accrued
other expenses and other current liabilities
|
402
|
169
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Dividends
payable
|
1,241
|
1,235
|
Deferred
revenue
|
144
|
142
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Total
current liabilities
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6,561
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6,362
|
|
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Deferred
revenue
|
382
|
408
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Total
liabilities
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6,943
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6,770
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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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Common
stock; $0.60 par value; 20,000,000 authorized
|
|
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shares;
13,844,584 and 13,754,749 issued and outstanding
shares
|
|
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at
March 31, 2017 and December 31, 2016, respectively.
|
8,307
|
8,253
|
Additional
paid-in capital
|
25,513
|
25,382
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Accumumulated
(deficit) earnings
|
(2,270)
|
240
|
Accumulated
other comprehensive income
|
4,120
|
2,061
|
Treasury
Stock, at cost
|
(259)
|
(162)
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Total
stockholders' equity
|
35,411
|
35,774
|
|
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Total liabilities and stockholders' equity
|
$42,354
|
$42,544
|
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