Annual report pursuant to Section 13 and 15(d)

Quarterly Results of Operations (unaudited) (Tables)

v3.3.0.814
Quarterly Results of Operations (unaudited) (Tables)
12 Months Ended
Mar. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information [Table Text Block]
 
 
Fiscal Year 2015 Quarter Ended
 
June 30, 2014
 
Sept. 30, 2014
(as restated (1))
 
Dec. 31, 2014
 
Mar. 31, 2015
(in thousands, except per share amounts)
 
 
 
 
 
 
 
Revenue
$
27,825

 
$
23,646

 
$
14,043

 
$
18,613

Gross profit
9,684

 
8,065

 
4,395

 
4,666

Goodwill impairment

 
11,450

 
20,547

 

Restructuring
57

 
(2
)
 

 
3,188

Total operating expenses
12,592

 
23,662

 
31,978

 
17,818

Loss before income taxes and discontinued operations
(2,847
)
 
(15,613
)
 
(27,612
)
 
(13,170
)
Income tax (expense) benefit
29

 
69

 
72

 
31

Net income (loss) from continuing operations
(2,818
)
 
(15,544
)
 
(27,540
)
 
(13,139
)
Income (loss) from discontinued operations, net of tax

 

 

 
139

Net income (loss)
(2,818
)
 
(15,544
)
 
(27,540
)
 
(13,000
)
Net income (loss) per common share:
 
 
 
 
 
 
 
Basic
$
(0.05
)
 
$
(0.26
)
 
$
(0.46
)
 
$
(0.22
)
Diluted
$
(0.05
)
 
$
(0.26
)
 
$
(0.46
)
 
$
(0.22
)
(1) See Note 1 for restatement information.
Revenue and gross profit were negatively impacted in the December quarter from significant reductions in capital spending by the Company's largest customers, North American wireless providers. Operating expenses in fiscal year 2015 included the following items: the September and December quarter included $11.5 million and $20.5 million of expense for goodwill impairment charge, respectively; the March quarter included a $3.2 million in restructuring and $2.1 million of expense related to the departure of the former CEO.
 
Fiscal Year 2014 Quarter Ended
 
June 30, 2013
 
Sept. 30, 2013
 
Dec. 31, 2013
 
Mar. 31, 2014
(as restated (1))
(in thousands, except per share amounts)
 
 
 
 
 
 
 
Revenue
$
22,456

 
$
29,960

 
$
25,236

 
$
24,421

Gross profit
8,417

 
12,022

 
11,932

 
8,090

Restructuring
66

 
169

 
38

 
62

Total operating expenses
11,018

 
10,728

 
9,909

 
12,239

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

 
1,992

 
(4,142
)
Income tax (expense) benefit
(19
)
 
(68
)
 
(38
)
 
8,035

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

 
1,954

 
3,893

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

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

 
1,925

 
3,887

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

 
$
0.03

 
$
0.07

Diluted
$
(0.05
)
 
$
0.02

 
$
0.03

 
$
0.07