Annual report pursuant to Section 13 and 15(d)

Quarterly Results of Operations (unaudited) (Tables)

v2.4.0.8
Quarterly Results of Operations (unaudited) (Tables)
12 Months Ended
Mar. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information [Table Text Block]
 
 
Fiscal Year 2014 Quarter Ended
 
June 30, 2013
 
Sept. 30, 2013
 
Dec. 31, 2013
 
Mar. 31, 2014
(in thousands, except per share amounts)
 
 
 
 
 
 
 
Revenue
$
22,456

 
$
29,960

 
$
25,236

 
$
24,421

Gross profit
8,776

 
12,423

 
12,235

 
8,524

Total operating expenses
11,377

 
11,129

 
10,212

 
12,554

Income (loss) before income taxes and discontinued operations
(2,731
)
 
1,392

 
1,992

 
(4,023
)
Income tax (expense) benefit
(19
)
 
(68
)
 
(38
)
 
8,907

Net income (loss) from continuing operations
(2,750
)
 
1,324

 
1,954

 
4,884

Income (loss) from discontinued operations, net of tax
(14
)
 
4

 
(29
)
 
(6
)
Net income (loss)
(2,764
)
 
1,328

 
1,925

 
4,878

Net income (loss) per common share:
 
 
 
 
 
 
 
Basic
$
(0.05
)
 
$
0.02

 
$
0.03

 
$
0.08

Diluted
$
(0.05
)
 
$
0.02

 
$
0.03

 
$
0.08

The Company acquired Kentrox on April 1, 2013 and CSI on March 1, 2014. In the fourth quarter of fiscal 2014, deferred tax liabilities of $9.1 million resulted from the acquisitions relating primarily to acquired intangible assets. The Company's anticipated ability to realize deferred tax assets from the reversal of these deferred tax liabilities resulted in a reversal of valuation allowance which was recorded in the fourth quarter of fiscal year 2014.
 
Fiscal Year 2013 Quarter Ended
 
June 30, 2012
 
Sept. 30, 2012
 
Dec. 31, 2012
 
Mar. 31, 2013
(in thousands, except per share amounts)
 
 
 
 
 
 
 
Revenue
$
9,418

 
$
9,854

 
$
8,873

 
$
10,663

Gross profit
2,773

 
3,449

 
3,090

 
4,013

Total operating expenses
6,271

 
5,701

 
5,606

 
9,072

Income (loss) before income taxes and discontinued operations
(3,414
)
 
(2,245
)
 
(2,473
)
 
(5,018
)
Income tax (expense) benefit
1,247

 
677

 
1,295

 
(32,611
)
Net income (loss) from continuing operations
(2,167
)
 
(1,568
)
 
(1,178
)
 
(37,629
)
Income (loss) from discontinued operations, net of tax
427

 
(607
)
 
(787
)
 
(529
)
Net income (loss)
(1,740
)
 
(2,175
)
 
(1,965
)
 
(38,158
)
Net income (loss) per common share:
 
 
 
 
 
 
 
Basic
$
(0.03
)
 
$
(0.04
)
 
$
(0.03
)
 
$
(0.66
)
Diluted
$
(0.03
)
 
$
(0.04
)
 
$
(0.03
)
 
$
(0.66
)