XML 114 R97.htm IDEA: XBRL DOCUMENT v3.6.0.2
QUARTERLY FINANCIAL INFORMATION - UNAUDITED (Detail) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
[1]
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
[1]
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Quarterly Financial Information [Line Items]                      
Total revenue $ 19,403 $ 23,257 $ 23,140 $ 20,661 $ 21,886 [2] $ 24,845 [2] $ 22,872 [2] $ 16,637 [2] $ 86,461 $ 86,240 $ 76,045
Total cost of revenue 12,931 14,660 13,983 12,626 13,427 [2],[3] 15,506 [2],[3] 14,599 [2],[3] 10,416 [2],[3] 54,200 53,948 47,494
Gross profit $ 6,472 $ 8,597 $ 9,157 $ 8,035 $ 8,459 $ 9,339 $ 8,273 $ 6,221 32,261 32,292 28,551
Gross profit percent 33.00% 37.00% 40.00% 39.00% 39.00% 38.00% 36.00% 37.00%      
Selling, general and administrative $ 7,912 $ 8,080 $ 9,009 $ 9,238 $ 8,503 $ 7,941 $ 7,894 $ 8,685 34,239 33,023 25,924
Depreciation and amortization 557 585 616 608 635 [3] 632 [3] 609 [3] 986 [3]      
Research and development 471 512 527 506 342 532 531 443 2,016 1,848 1,306
Bad debt 44 0 42 7 (9) 67 54 83 93 195 (39)
Other operating expenses 52 5 0 0 56 0 0 2      
Operating (loss) (2,564) (585) (1,037) (2,324) (1,068) 167 (815) (3,978) (6,510) (5,694) (2,896)
Net (loss) $ (2,610) $ (507) $ (1,481) $ (2,668) $ (1,348) $ (59) $ (504) $ (4,076) $ (7,266) $ (5,987) $ (2,801)
Earnings (loss) per common share:                      
Basic income (loss) per common share $ (0.12) $ (0.02) $ (0.07) $ (0.13) $ (0.06) $ (0.00) $ (0.02) $ (0.20) $ (0.35) $ (0.29) $ (0.14)
Diluted income (loss) per common share $ (0.12) $ (0.02) $ (0.07) $ (0.13) $ (0.06) $ (0.00) $ (0.02) $ (0.20) $ (0.35) $ (0.29) $ (0.14)
Basic and diluted weighted average common shares outstanding 20,916,559 20,906,781 20,889,052 20,878,549 20,807,205 20,802,217 20,786,081 20,774,000 20,897,812 20,792,494 20,658,634
[1] On March 5, 2015, the Company closed on an Asset Purchase Agreement to acquire certain assets and assume certain liabilities of Tectrol, Inc., a Toronto, Canada corporation. The acquisition was effective March 1, 2015 and results are included from that date in the Company’s Power and Electromechanical segment.
[2] Revenue and cost of revenue have been revised. Immaterial revisions made to 2015 amounts were related to sales of raw material components to a vendor that in turn, sold finished goods inventory to the Company that included the raw material components that we had sold to the vendor. Revisions decreased total revenue and total cost of revenue for the first, second third and fourth quarters of 2015 by $216 thousand, $100 thousand, $83 thousand and $28 thousand, respectively. These revisions had no effect on gross profit, operating (loss) or net (loss). For more information see Note 2. Summary of Significant Accounting Policies - Revisions.
[3] In the fourth quarter of 2015, the Company reclassified $133 thousand of depreciation and amortization at CUI-Canada to cost of revenue. During 2016, for comparative purposes this 2015 adjustment was reclassified according to the quarter when the original expense was recorded. Accordingly, in the first, second, third and fourth quarters of 2015, $12 thousand, $37 thousand, $41 thousand and $43 thousand, respectively, of depreciation and amortization was reclassified to cost of revenue and the $133 thousand adjustment representing the full year reclassification was removed from the fourth quarter 2015 presentation.