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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2011
Sep. 30, 2010
Restated
Sep. 30, 2010
Restated
Net revenue$ 26,752$ 74,784$ 20,511[1]$ 57,035[1]
Cost of revenue14,92243,36011,563[1]31,506[1]
Gross profit11,83031,4248,948[1]25,529[1]
Operating expenses:    
Research and development2,2864,8231,035[1]3,513[1]
Selling and marketing6,19817,4324,823[1]14,877[1]
General and administrative6,37217,2125,341[1]16,201[1]
Restructuring and other charges   337[1]
Total operating expenses14,85639,46711,199[1]34,928[1]
Loss from operations(3,026)(8,043)(2,251)[1](9,399)[1]
Other income25255  
Interest expense, net(242)(805)(208)[1](654)[1]
Foreign currency gains (losses), net(622)(398)388[1](174)[1]
Loss from continuing operations before income taxes and noncontrolling interest(3,865)(8,991)(2,071)[1](10,227)[1]
(Provision) benefit for income taxes(54)1,550(39)[1]866[1]
Loss from continuing operations(3,919)(7,441)(2,110)[1](9,361)[1]
(Loss) income from discontinued operations, net of income taxes  (24)[1]69[1],[2]
Consolidated net loss(3,919)(7,441)(2,134)[1](9,292)[1],[2]
Less: Net loss attributable to noncontrolling interest233336109[1]526[1]
Net loss attributable to Identive Group, Inc.$ (3,686)$ (7,105)$ (2,025)[1]$ (8,766)[1]
Basic and diluted net loss per share attributable to Identive Group, Inc.:    
Loss from continuing operations$ (0.06)$ (0.14)$ (0.05)[1]$ (0.21)[1]
Income from discontinued operations   [1] [1]
Net loss$ (0.06)$ (0.14)$ (0.05)[1]$ (0.21)[1]
Weighted average shares used to compute basic and diluted loss per share57,57952,47843,279[1]41,901[1]
[1]As stated in Note 20 to the Consolidated Financial Statements in its 2010 Annual Report on Form 10-K, the Company had determined that an error occurred in the recognition of revenue related to the sale of readers for the German national ID program as reported in the third quarter of 2010. Upon review of Accounting Standards Codification 605, Revenue Recognition, the Company had concluded that not all criteria for recognizing the sale were in fact met until the fourth quarter of 2010. As a result, revenue and cost of revenue of approximately $2.8 million and $1.6 million, respectively reported in the Company's Form 10-Q for the three and nine months ended September 30, 2010 were overstated, resulting in an impact of $1.2 million on gross profit, operating loss and net loss in such periods. The loss per share was understated by $(0.03). The amounts presented for the three and nine months ended September 30, 2010 in the table above have been restated to correct the impact of such error.
[2]As stated earlier, the Company had determined an error in the recognition of revenue related to the sale of readers for the German national ID program as reported in the third quarter of 2010 as not all criteria for recognizing the sale were in fact met until the fourth quarter of 2010. As a result, revenue, cost of revenue, gross profit, operating loss and net loss reported in the Company's Form 10-Q for the quarter ended September 30, 2010 was overstated, however there was no impact to the total net cash used in operating activities. The amounts presented in the table above have been restated to correct the impact of such error.