Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Sep. 30, 2013 | Nov. 12, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'QUALSTAR CORP | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 12,253,117 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000758938 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Condensed_Balance_Sheets_Curre
Condensed Balance Sheets (Current Period Unaudited) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and cash equivalents | $1,645 | $1,966 |
Marketable securities, short-term | 6,879 | 6,305 |
Receivables, net of allowances of $68 at September 30, 2013, and $68 at June 30, 2013 | 2,197 | 3,140 |
Receivable from CTS for manufacturing inventories, net of allowance for returns of $203 at June 30, 2013 | 0 | 644 |
Inventories, net | 2,811 | 1,628 |
Prepaid expenses and other current assets | 300 | 363 |
Total current assets | 13,832 | 14,046 |
Property and equipment, net | 585 | 545 |
Marketable securities, long-term | 3,294 | 5,546 |
Other assets | 70 | 70 |
Total assets | 17,781 | 20,207 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ' | ' |
Accounts payable | 2,238 | 2,089 |
Accrued payroll and related liabilities | 332 | 424 |
Deferred service revenue | 1,286 | 953 |
Other accrued liabilities | 1,676 | 1,979 |
Total current liabilities | 5,532 | 5,445 |
Other long term liabilities | 17 | 17 |
Commitments and contingencies | ' | ' |
Shareholders’ equity: | ' | ' |
Preferred stock, no par value; 5,000 shares authorized; no shares issued | ' | ' |
Common stock, no par value; 50,000 shares authorized, 12,253 shares issued and outstanding as of September 30, 2013 and June 30, 2013 | 18,942 | 18,938 |
Accumulated other comprehensive income | 14 | 4 |
Retained deficit | -6,724 | -4,197 |
Total shareholders’ equity | 12,232 | 14,745 |
Total liabilities and shareholders’ equity | $17,781 | $20,207 |
Condensed_Balance_Sheets_Curre1
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Receivable, allowance (in Dollars) | $68 | $68 |
Preferred stock, par value (in Dollars per share) | $0 | $0 |
Preferred stock, shares authorized (in Shares) | 5,000 | 5,000 |
Preferred stock, shares issued (in Shares) | 0 | 0 |
Common stock, par value (in Dollars per share) | $0 | $0 |
Common stock, shares authorized (in Shares) | 50,000 | 50,000 |
Common stock, shares issued (in Shares) | 12,253 | 12,253 |
Common stock, shares outstanding (in Shares) | 12,253 | 12,253 |
Manufacturing Inventories [Member] | ' | ' |
Receivable, allowance (in Dollars) | $0 | $203 |
Condensed_Statements_of_Compre
Condensed Statements of Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | |
Share data in Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Net revenues | $2,191,000 | $3,453,000 |
Cost of goods sold | 1,730,000 | 2,509,000 |
Gross profit | 461,000 | 944,000 |
Operating expenses: | ' | ' |
Engineering | 874,000 | 666,000 |
Sales and marketing | 733,000 | 531,000 |
General and administrative | 1,394,000 | 740,000 |
Restructuring expense | 0 | 882,000 |
Total operating expenses | 3,001,000 | 2,819,000 |
Loss from operations | -2,540,000 | -1,875,000 |
Other income (expense) | 13,000 | -71,000 |
Loss before income taxes | -2,527,000 | -1,946,000 |
Provision for income taxes | 0 | 0 |
Net loss | -2,527,000 | -1,946,000 |
Change in unrealized gains on investments | 10,000 | 7,000 |
Comprehensive loss | ($2,517,000) | ($1,939,000) |
Basic and Diluted (in Dollars per share) | ($0.21) | ($0.16) |
Basic and Diluted (in Shares) | 12,253 | 12,253 |
Condensed_Statements_of_Cash_F
Condensed Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
OPERATING ACTIVITIES: | ' | ' |
Net loss | ($2,527,000) | ($1,946,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 46,000 | 31,000 |
Provision for bad debts and returns, net | 0 | 15,000 |
Provision for inventory reserve and adjustments | -133,000 | 325,000 |
Stock based compensation | 4,000 | 14,000 |
Loss on sale of marketable securities | 0 | 22,000 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | 943,000 | 364,000 |
Receivable from CTS for manufacturing inventories | 644,000 | 0 |
Inventories | -1,050,000 | 29,000 |
Prepaid expenses and other assets | 63,000 | -138,000 |
Accounts payable | 149,000 | -881,000 |
Accrued payroll and related liabilities | -92,000 | 126,000 |
Other accrued liabilities | 30,000 | 824,000 |
Total adjustments | 604,000 | 731,000 |
Net cash used in operating activities | -1,923,000 | -1,215,000 |
INVESTING ACTIVITIES: | ' | ' |
Purchases of equipment | -86,000 | -56,000 |
Purchases of marketable securities | 0 | -266,000 |
Proceeds from the sale of marketable securities | 1,688,000 | 2,397,000 |
Net cash provided by investing activities | 1,602,000 | 2,075,000 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -321,000 | 860,000 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 1,966,000 | 7,381,000 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 1,645,000 | 8,241,000 |
SUPPLEMENTAL CASH FLOW DISCLOSURES: | ' | ' |
Income taxes paid | $0 | $7,000 |
Condensed_Statement_of_Changes
Condensed Statement of Changes in Shareholders’ Equity (Unaudited) (USD $) | Common Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Total |
Balance at Jun. 30, 2013 | $18,938,000 | $4,000 | ($4,197,000) | $14,745,000 |
Shares balance (in Shares) at Jun. 30, 2013 | 12,253,000 | ' | ' | ' |
Share-based compensation | 4,000 | ' | ' | 4,000 |
Comprehensive loss: | ' | ' | ' | ' |
Change in unrealized gains on investments | ' | 10,000 | ' | 10,000 |
Net loss | ' | ' | -2,527,000 | -2,527,000 |
Comprehensive loss | ' | ' | ' | -2,517,000 |
Balance at Sep. 30, 2013 | $18,942,000 | $14,000 | ($6,724,000) | $12,232,000 |
Shares balance (in Shares) at Sep. 30, 2013 | 12,253,000 | ' | ' | ' |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies [Text Block] | ' |
Note 1 – Summary of Significant Accounting Policies | |
Basis of Presentation | |
In the opinion of management, the unaudited accompanying condensed financial statements, including balance sheets and related interim statements of comprehensive loss, cash flows, and stockholders’ equity, include all adjustments, consisting primarily of normal recurring items, which are necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |
Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Examples include estimates of loss contingencies, product life cycles and inventory obsolescence, bad debts, sales returns, share-based compensation, forfeiture rates, the potential outcome of future tax consequences of events that have been recognized in our financial statements or tax returns, and determining when investment impairments are other-than-temporary. Actual results and outcomes may differ from management’s estimates and assumptions. | |
Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in the Qualstar Corporation Annual Report on Form 10-K for the fiscal year ended June 30, 2013, filed with the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2013. | |
Risks and Uncertainties | |
We are subject to a number of risks and uncertainties that may significantly impact our future operating results. These risks and uncertainties are discussed under Part II, Item 1A, “Risk Factors” included in this Form 10-Q. As our interim description of risks and uncertainties only includes any material changes to our annual description, we refer you to our risk factors previously disclosed in Item 1A of our annual report on Form 10-K for the fiscal year ended June 30, 2013, as filed with the SEC. | |
Revenue Recognition | |
We recognize revenue when there is persuasive evidence that an arrangement exists, title and risk of loss have passed, delivery has occurred or the services have been rendered, the sales price is fixed or determinable and collection of the related receivable is reasonably assured. Title and risk of loss generally pass to our customers upon shipment. In limited circumstances where either title or risk of loss pass upon destination or acceptance or when collection is not reasonably assured, we defer revenue recognition until such events occur. | |
Revenue for established products that have previously satisfied a customer’s acceptance requirements and provide for full payment tied to shipment is generally recognized upon shipment and passage of title. In limited cases where a prior history of customer acceptance cannot be demonstrated or sales where customer payment dates are not determinable or when collection is not reasonably assured, revenue is deferred until customer acceptance occurs or payment has been received. On the limited shipments where sales are not recognized, gross profit is generally recorded as deferred profit in our consolidated balance sheet representing the difference between the receivable recorded and the inventory shipped. | |
Deferred revenue is shown separately in the balance sheet, and deferred profit is included in other accrued liabilities in the balance sheet. At September 30, 2013, we had deferred revenue of approximately $1,286,000, and deferred profit of approximately $182,000. At June 30, 2013, we had deferred revenue of approximately $953,000 and deferred profit of approximately $209,000. | |
Marketable Securities | |
Marketable securities consist primarily of high-quality U.S. corporate securities, U.S. federal government debt securities, corporate and municipal bonds, collateralized mortgage obligations and asset backed securities. Our marketable securities portfolio consists of short-term securities with original maturities of greater than three months from the date of purchase and remaining maturities of less than one year and long-term securities with original maturities of greater than one year and less than five years. Marketable securities are classified as “available-for-sale” and are recorded at fair value using the specific identification method; unrealized gains and losses are reflected in other comprehensive income until realized; realized gains and losses are included in earnings when the underlying securities are sold and are derived using the specific identification method for determining the cost of securities sold. If the credit ratings of the security issuers deteriorate or if market conditions deteriorate, we may be required to reduce the value of our investments through an impairment charge. | |
Fair Value of Financial Instruments | |
We measure fair value on all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least quarterly). See “Note 5 – Fair Value Measurements.” | |
Allowance for Doubtful Accounts | |
We estimate our allowance for doubtful accounts based on an assessment of the collectability of specific accounts and the overall condition of accounts receivable. In evaluating the adequacy of the allowance for doubtful accounts, we analyze specific trade receivables, historical bad debts, customer credits, customer credit-worthiness and changes in customers’ payment terms and patterns. If the financial condition of our customers were to deteriorate, resulting in an impairment of their ability to make additional payments, then we may need to make additional allowances. Likewise, if we determine that we could realize more of our receivables in the future than previously estimated, we would adjust the allowance to increase income in the period we made this determination. | |
Inventory Valuation | |
We record inventories at the lower of cost or market value. We assess the value of our inventories periodically based upon numerous factors including expected product or material demand, current market conditions, technological obsolescence, current cost and net realizable value. If necessary, we write down our inventory for estimated obsolescence, potential shrinkage, or unmarketable inventory equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future demand and market conditions. If technology changes more rapidly than expected, or market conditions become less favorable than those projected by management, additional inventory write-downs may be required. | |
Warranty Obligations | |
We provide for the estimated cost of product warranties at the time revenue is recognized. We engage in extensive product quality programs and processes, including active monitoring and evaluation of product failure rates, material usage and estimation of service delivery costs incurred in correcting a product failure. However, should actual product failure rates, material usage, or service delivery costs differ from our estimates, revisions to the estimated warranty liability would be required. Historically our warranty costs have not been significant. | |
Legal and Other Contingencies | |
The outcomes of legal proceedings and claims brought against us are subject to significant uncertainty. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued by a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. When legal costs that the entity expects to incur in defending itself in connection with a loss contingency accrual are expected to be material, the loss should factor in all costs and, if the legal costs are reasonably estimable, they should be accrued in accordance with ASC 450, regardless of whether a liability can be estimated for the contingency itself. Disclosure of a contingency is required if there is at least a reasonable possibility that a loss has been incurred. Changes in these factors could materially impact our financial statements. We have accrued $74,000 for such contingencies. | |
Share-Based Compensation | |
Share-based compensation is accounted for in accordance with ASC 718, “Compensation – Stock Compensation.” We use the Black-Scholes option-pricing model to determine fair value of the award at the date of grant and recognize compensation expense over the vesting period. The inputs we use for the model require the use of judgment, estimates and assumptions regarding the expected volatility of the stock, the expected term the average employee will hold the option prior to the date of exercise, expected future dividends, and the amount of share-based awards that are expected to be forfeited. Changes in these inputs and assumptions could occur and actual results could differ from these estimates, and our results of operations could be impacted. | |
Accounting for Income Taxes | |
We estimate our tax liabilities based on current tax laws in the statutory jurisdictions in which we operate in accordance with ASC 740, “Income Taxes.” These estimates include judgments about deferred tax assets and liabilities resulting from temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes, as well as about the realization of deferred tax assets. We may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and income tax disclosures. | |
We maintain a valuation allowance to reduce our deferred tax assets due to the uncertainty surrounding the timing of realizing the benefits of net deferred tax assets in future years. We have considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for such a valuation allowance. In the event we were to determine that we would be able to realize all or part of our net deferred tax asset in the future, the valuation allowance would be decreased accordingly. | |
We may periodically undergo examinations by the federal and state regulatory authorities and the Internal Revenue Service. We may be assessed additional taxes and/or penalties contingent on the outcome of these examinations. Our previous examinations have not resulted in any unfavorable or significant assessments. |
Note_2_Recent_Accounting_Prono
Note 2 - Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
Note 2 – Recent Accounting Pronouncements | |
Recently adopted accounting guidance | |
On July 1, 2013 we adopted ASU 2013-02 guidance on disclosure requirements for items reclassified out of accumulated other comprehensive income. This new guidance requires entities to present (either on the face of the income statement or in the notes) the effects on the line items of the income statements for amounts reclassified out of accumulated other comprehensive income. Adoption of this new guidance did not impact our financial statements. | |
On July 1, 2013 we adopted ASU 2012-02 guidance on testing indefinite-lived intangible assets for impairment. The new guidance provides an entity with the option to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test, simplifying the guidance for testing the decline in the realizable value (impairment) of indefinite-lived intangible assets other than goodwill. Examples of intangible assets subject to the guidance include indefinite-lived trademarks, licenses, and distribution rights. An organization electing to perform a qualitative assessment is no longer required to calculate the fair value of an indefinite-lived intangible asset unless the organization determines, based on a qualitative assessment, that it is “more likely than not” that the asset is impaired. Adoption of this new guidance did not impact our financial statements. | |
On July 1, 2013 we adopted ASU 2011-11 enhancing disclosure requirements about the nature of an entity’s right to offset and related arrangements associated with its financial instruments and derivative instruments. The new guidance requires the disclosure of the gross amounts subject to rights of set-off, amounts offset in accordance with the accounting standards followed, and the related net exposure. Adoption of this new guidance did not impact our financial statements. | |
Recent accounting guidance not yet adopted | |
In July 2013, the FASB issued ASU 2013-11 regarding disclosures in the financial statements for an unrecognized tax benefit when a net operating loss carryforward exists. The new guidance will become effective for us beginning July 1, 2014 and is not expected to impact our financial statements upon adoption. |
Note_3_Concentration_of_Credit
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers | 3 Months Ended |
Sep. 30, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Concentration Risk Disclosure [Text Block] | ' |
Note 3 – Concentration of Credit Risk, Other Concentration Risks and Significant Customers | |
We are exposed to interest rate risks. Our investment income is sensitive to changes in the general level of U.S. interest rates, particularly since the majority of our investments are in shorter duration fixed income securities. We have no outstanding debt nor do we utilize auction rate securities or derivative financial instruments in our investment portfolio. | |
Our financial results could be affected by changes in foreign currency exchange rates or weak economic conditions in foreign markets. As all sales are currently made in U.S. dollars, a strengthening of the dollar could make our products less competitive in foreign markets. Sales outside North America represented approximately 38.8% of net revenues in the three months ended September 30, 2013, and 36.5% of net revenues in the three months ended September 30, 2012. | |
One customer accounted for 14.8% of the Company’s revenue for the three-month period ended September 30, 2013. The customer’s accounts receivable balance, net of specific allowances, totaled approximately 5.7% of net accounts receivable as of September 30, 2013. Two customers accounted for 13.6% and 10.3% of the Company’s revenue for the three-month period ended September 30, 2012. The customers’ accounts receivable balances, net of specific allowances, totaled approximately 16.1% and 12.1% of net accounts receivable as of September 30, 2012. |
Note_4_Loss_per_Share
Note 4 - Loss per Share | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share [Text Block] | ' | ||||||||
Note 4 – Loss per Share | |||||||||
Basic loss per share has been computed by dividing net loss by the weighted average number of common shares outstanding. Diluted loss per share has not been computed as the effect is antidilutive. | |||||||||
The following table sets forth the computation of basic and diluted net loss per share for the periods indicated: | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
In thousands (except per share amounts): | 2013 | 2012 | |||||||
Net loss (a) | $ | (2,527 | ) | $ | (1,946 | ) | |||
Weighted average outstanding shares of common stock (b) | 12,253 | 12,253 | |||||||
Dilutive potential common shares from employee stock options | — | — | |||||||
Common stock and common stock equivalents | 12,253 | 12,253 | |||||||
Loss per share: | |||||||||
Basic and dilutive net loss per share (a)/(b) | $ | (0.21 | ) | $ | (0.16 | ) | |||
Note_5_Fair_Value_Measurements
Note 5 - Fair Value Measurements | 3 Months Ended |
Sep. 30, 2013 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value Disclosures [Text Block] | ' |
Note 5 – Fair Value Measurements | |
Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: | |
Level 1 – Quoted prices in active markets for identical assets or liabilities. | |
Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |
Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. |
Note_6_Cash_Cash_Equivalents_a
Note 6 - Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value | 3 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ' | ||||||||||||||||||||||||||||
Cash and Cash Equivalents Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
Note 6 – Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value | |||||||||||||||||||||||||||||
All highly liquid investments with maturities of three months or less at the date of purchase are classified as cash equivalents. The Company’s marketable debt securities have been classified and accounted for as available-for-sale. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates the available-for-sale designations as of each balance sheet date. The Company classifies its marketable debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Marketable debt securities with maturities of 12 months or less are classified as short-term and marketable debt securities with maturities greater than 12 months are classified as long-term. | |||||||||||||||||||||||||||||
The following tables summarize the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category recorded as cash and cash equivalents or short-term or long-term marketable securities as of September 30, 2013 and June 30, 2013 (in thousands): | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
Adjusted | Unrealized | Unrealized Losses | Fair Value | Cash & | Short-term Marketable Securities | ||||||||||||||||||||||||
Cost | Gains | Cash | Long-term Marketable Securities | ||||||||||||||||||||||||||
Equivalents | |||||||||||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||||||
Cash | 757 | - | - | 757 | 757 | - | - | ||||||||||||||||||||||
Money Market Funds | 887 | - | - | 887 | 887 | - | - | ||||||||||||||||||||||
U.S. Treasury Securities | 494 | - | - | 494 | - | 494 | - | ||||||||||||||||||||||
Subtotal | $ | 2,138 | $ | - | $ | - | $ | 2,138 | $ | 1,644 | $ | 494 | $ | - | |||||||||||||||
Level 2: | |||||||||||||||||||||||||||||
U.S. Agency Securities | 540 | 1 | - | 541 | - | - | 541 | ||||||||||||||||||||||
Corporate securities | 4,296 | 2 | - | 4,298 | - | 2,763 | 1,535 | ||||||||||||||||||||||
Municipal securities | 4,787 | 11 | - | 4,798 | - | 3,580 | 1,218 | ||||||||||||||||||||||
Asset backed securities | 42 | - | - | 42 | - | 42 | - | ||||||||||||||||||||||
Subtotal | $ | 9,665 | $ | 14 | $ | - | $ | 9,679 | $ | - | $ | 6,385 | $ | 3,294 | |||||||||||||||
Total | $ | 11,803 | $ | 14 | $ | - | $ | 11,817 | $ | 1,644 | $ | 6,879 | $ | 3,294 | |||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||||||
Adjusted | Unrealized | Unrealized Losses | Fair Value | Cash & | Short-term Marketable Securities | ||||||||||||||||||||||||
Cost | Gains | Cash | Long-term Marketable Securities | ||||||||||||||||||||||||||
Equivalents | |||||||||||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||||||
Cash | 1,257 | - | - | 1,257 | 1,257 | ||||||||||||||||||||||||
Money Market Funds | 709 | - | - | 709 | 709 | ||||||||||||||||||||||||
U.S. Treasury Securities | 503 | - | - | 503 | - | 503 | - | ||||||||||||||||||||||
Subtotal | $ | 2,469 | $ | - | - | $ | 2,469 | $ | 1,966 | $ | 503 | $ | - | ||||||||||||||||
Level 2: | |||||||||||||||||||||||||||||
U.S. Agency Securities | 544 | - | (1 | ) | 543 | - | - | 543 | |||||||||||||||||||||
Corporate securities | 4,915 | 1 | (11 | ) | 4,905 | - | 2,745 | 2,160 | |||||||||||||||||||||
Municipal securities | 5,728 | 15 | - | 5,743 | - | 2,900 | 2,843 | ||||||||||||||||||||||
Asset backed securities | 127 | - | - | 127 | - | 127 | - | ||||||||||||||||||||||
Mortgage backed securities | 30 | - | - | 30 | - | 30 | - | ||||||||||||||||||||||
Subtotal | $ | 11,344 | $ | 16 | (12 | ) | $ | 11,348 | - | $ | 5,802 | $ | 5,546 | ||||||||||||||||
Total | $ | 13,813 | $ | 16 | (12 | ) | $ | 13,817 | $ | 1,966 | $ | 6,305 | $ | 5,546 | |||||||||||||||
There were no unrealized loss positions as of September 30, 2013. The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2013 (in thousands): | |||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||||||
30-Jun-13 | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||||||
Value | Loss | Value | Loss | Value | Unrealized | ||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
U.S. Agency securities | - | - | 543 | (1 | ) | 543 | (1 | ) | |||||||||||||||||||||
Corporate securities | 2,745 | (3 | ) | 2,160 | (8 | ) | 4,905 | (11 | ) | ||||||||||||||||||||
Total | $ | 2,745 | $ | (3 | ) | $ | 2,703 | $ | (9 | ) | $ | 5,448 | $ | (12 | ) | ||||||||||||||
Available-for-sale securities are recorded at market value. Unrealized holding gains and losses, net of the related income tax effect, on available-for-sale securities are excluded from earnings and are reported as a separate component of shareholders’ equity until realized. Dividend and interest income are recognized when earned. Realized gains and losses for securities classified as available-for- sale are included in earnings when the underlying securities are sold and are derived using the specific identification method for determining the cost of securities sold. There was no loss on the sale of marketable securities for the three months ended September 30, 2013. Loss on the sale of marketable securities for the three months ended September 30, 2012 was $22,000. The net unrealized gain on available-for-sale securities that has been included in the other comprehensive income of shareholders’ equity during the three months ended September 30, 2013 was $10,000. The net unrealized gain on available-for-sale securities that has been included in the other comprehensive income of shareholders’ equity during the three months ended September 30, 2012 was $7,000. |
Note_7_Inventories
Note 7 - Inventories | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
Note 7 - Inventories | |||||||||
Inventories are stated at the lower of cost (first-in, first-out basis) or market. Inventories are comprised as follows (in thousands): | |||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Raw materials | $ | 1,297 | $ | 1,027 | |||||
Finished goods | 2,464 | 1,684 | |||||||
Subtotal | 3,761 | 2,711 | |||||||
Less: Inventory reserve | (950 | ) | (1,083 | ) | |||||
Net inventory balance | $ | 2,811 | $ | 1,628 | |||||
Certain items of inventory, specifically tape drives, have been reclassified from raw materials to finished goods at June 30, 2013, to be consistent with September 30. |
Note_8_Commitments_and_Conting
Note 8 - Commitments and Contingencies | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||
Note 8 – Commitments and Contingencies | |||||||||
Accrued Warranty | |||||||||
We provide for the estimated costs of hardware warranties at the time the related revenue is recognized. We estimate the costs based on historical and projected product failure rates, historical and projected repair costs, and knowledge of specific product failures (if any). The specific hardware warranty terms and conditions for tape libraries generally include parts and labor over a three-year period. The warranty for power supplies generally is three years. We regularly re-evaluate our estimates to assess the adequacy of the recorded warranty liabilities and adjust the amounts as necessary. | |||||||||
Activity in the liability for product warranty, which is included in other accrued liabilities in the condensed balance sheets, for the periods presented is as follows (in thousands): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Beginning balance | $ | 190 | $ | 205 | |||||
Cost of warranty claims | (14 | ) | (13 | ) | |||||
Accruals for product warranties | (2 | ) | 11 | ||||||
Ending balance | $ | 174 | $ | 203 | |||||
Note_9_Comprehensive_Loss
Note 9 - Comprehensive Loss | 3 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Comprehensive Income (Loss) Note [Text Block] | ' |
Note 9 – Comprehensive Loss | |
For the three months ended September, 2013 and 2012, comprehensive loss amounted to approximately $2,517,000 and $1,939,000, respectively. The difference between net loss and comprehensive loss is $10,000 and $7,000 which relates to the changes in the unrealized gains that the Company recorded for its available-for-sale marketable securities. |
Note_10_Legal_Proceedings
Note 10 - Legal Proceedings | 3 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Legal Matters and Contingencies [Text Block] | ' |
Note 10 – Legal Proceedings | |
On June 28, 2012, Overland Storage, Inc. (“Overland”) filed a patent infringement lawsuit against Qualstar Corporation (and others) in the U.S. District Court in the Southern District of California, alleging that certain of our automated tape libraries infringe claims of U.S. Patent No. 6,328,766. The lawsuit is entitled: Overland Storage, Inc. (Plaintiff/Counterclaim Defendant) v. Qualstar Corporation (Defendant/Counterclaim Plaintiff), and assigned Case No. 12-cv-1605-JLS-BLM. Overland is seeking injunctive relief as well as the recovery of unspecified monetary damages. We do not believe we infringe the Overland patent and we intend to defend ourselves vigorously. Due to the inherent uncertainty of litigation, we cannot identify probable or estimable damages related to the lawsuit at this time. | |
On August 12, 2013, Qualstar filed a complaint against former CEO Lawrence D. Firestone and others for breach of fiduciary duty, breach of duty of loyalty, breach of duty of care and the commission of corporate waste that is currently pending in the Superior Court of the State of California, County of Los Angeles. The lawsuit is entitled: Qualstar Corporation v. Lawrence D. Firestone, Stanley Corker, Carl W. Gromada, Robert A. Meyer, Robert Rich, Daniel Molhoek, Allen Alley, Gerald Laber, Steven Wagner and Does 1 through 10, inclusive, and assigned Case No. BC 514889. | |
We also are subject to a variety of other claims and legal proceedings that arise from time to time in the ordinary course of our business. Although management currently believes that resolving claims against us, individually or in the aggregate, will not have a material adverse impact on our financial statements, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. We accrue loss contingencies in connection with our commitments and contingencies, including litigation, when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. As of September 30, 2013, we had accrued aggregate current liabilities of $74,000 in probable fees and costs related to our contingent legal matters. |
Note_11_Income_Taxes
Note 11 - Income Taxes | 3 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
Note 11 – Income Taxes | |
We did not record a provision or benefit for income taxes for the three months ended September 30, 2013 and 2012. The Company has recorded a full valuation allowance against its net deferred tax assets based on the Company’s assessment regarding the realizability of these net deferred tax assets in future periods. |
Note_12_Segment_Information
Note 12 - Segment Information | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Segment Reporting [Abstract] | ' | ||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||
Note 12 – Segment Information | |||||||||
In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with U.S. GAAP. Our two segments are Power Supplies and Storage. The two segments discussed in this analysis are presented in the way we internally managed and monitored performance for the three months ended September 30, 2013 and 2012. Allocations for internal resources were made for the three months ended September 30, 2013 and 2012. The power supplies segment tracks certain assets separately, and all others are recorded in the storage segment for internal reporting presentations. The types of products and services provided by each segment are summarized below: | |||||||||
Power Supplies — We design, develop, and sell small, open frame, high efficiency switching power supplies. These power supplies are used to convert AC line voltage to DC voltages, or DC voltages to other DC voltages for use in a wide variety of electronic equipment such as telecommunications equipment, machine tools, routers, switches, wireless systems and gaming devices. | |||||||||
Storage — We design, develop and sell automated magnetic tape libraries used to store, retrieve and manage electronic data primarily in network computing environments. Tape libraries consist of cartridge tape drives, tape cartridges and robotics to move the cartridges from their storage locations to the tape drives under software control. Our tape libraries provide data storage solutions for organizations requiring backup, recovery and archival storage of critical data. | |||||||||
Segment revenue, loss before taxes and total assets were as follows (in thousands): | |||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Net Revenues | |||||||||
Power supplies | $ | 953 | $ | 1,544 | |||||
Storage | 1,238 | 1,909 | |||||||
Total revenue | $ | 2,191 | $ | 3,453 | |||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Loss before income taxes | |||||||||
Power supplies | $ | (318 | ) | $ | (298 | ) | |||
Storage | (2,209 | ) | (1,648 | ) | |||||
Total loss before taxes | $ | (2,527 | ) | $ | (1,946 | ) | |||
June 30, | |||||||||
September 30, | 2013 | ||||||||
2013 | |||||||||
Total assets | |||||||||
Cash and marketable securities: | |||||||||
Cash and cash equivalents | $ | 1,645 | $ | 1,966 | |||||
Marketable securities | 10,172 | 11,851 | |||||||
Total cash and marketable securities | $ | 11,817 | $ | 13,817 | |||||
Power supplies and storage: | |||||||||
Power supplies | (367 | ) | 538 | ||||||
Storage | 6,331 | 5,852 | |||||||
Power supplies and storage | $ | 5,974 | $ | 6,390 | |||||
Total assets | $ | 17,781 | $ | 20,207 | |||||
Note_13_Restructuring_Expenses
Note 13 - Restructuring Expenses | 3 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | ' | ||||||||||||||||
Note 13 – Restructuring Expenses | |||||||||||||||||
Restructuring Charges | |||||||||||||||||
In fiscal 2013, the Company restructured its operations and overhead structure related to the storage division by reducing the size of its facilities and headcount, in accordance with a defined restructuring plan. Costs associated therewith were separately identified and disclosed. | |||||||||||||||||
Beginning | Expensed | Paid | Ending | ||||||||||||||
Balance | Balance | ||||||||||||||||
June 30, | September 30, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Lease abandonment obligation | $ | 1,040 | $ | - | $ | (101 | ) | $ | 939 | ||||||||
Total Restructuring Expenses | $ | 1,040 | $ | - | $ | (101 | ) | $ | 939 | ||||||||
Our restructuring actions are strategic management decisions and until we achieve consistent and sustainable levels of profitability, we may incur restructuring charges in the future from additional cost reduction efforts. However, as the business is dynamic, unless such changes are material, and in accordance with a defined restructuring plan, they will be accounted for as part of normal operating expenses. |
Note_14_Shareholder_Activism
Note 14 - Shareholder Activism | 3 Months Ended |
Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 14 – Shareholder Activism | |
As a result of the proxy contest initiated by BKF Capital Group, Inc, ("BKF"), an owner of 2,239,419 or approximately 18.3% of the stock of Qualstar, at the Annual Shareholders' Meeting, held on June 28, 2013, the entire Board of Qualstar was replaced by the five nominees of BKF. On August 19, 2013, the Board approved the reimbursement of the expenses incurred by BKF in connection with its efforts to replace the prior members of Qualstar's Board in an aggregate amount of $395,000. Steven N. Bronson, the Company's Chairman and CEO, is also Chairman, CEO, and majority shareholder of BKF. |
Note_15_Subsequent_Events
Note 15 - Subsequent Events | 3 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Note 15 – Subsequent Events | |
The Company evaluates and discloses subsequent events as required by ASC Topic No. 855, Subsequent Events. The Topic establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued or are available to be issued. Subsequent events have been evaluated as of the date of this filing and no further disclosures were required. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation | |
In the opinion of management, the unaudited accompanying condensed financial statements, including balance sheets and related interim statements of comprehensive loss, cash flows, and stockholders’ equity, include all adjustments, consisting primarily of normal recurring items, which are necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). | |
Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Examples include estimates of loss contingencies, product life cycles and inventory obsolescence, bad debts, sales returns, share-based compensation, forfeiture rates, the potential outcome of future tax consequences of events that have been recognized in our financial statements or tax returns, and determining when investment impairments are other-than-temporary. Actual results and outcomes may differ from management’s estimates and assumptions. | |
Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in the Qualstar Corporation Annual Report on Form 10-K for the fiscal year ended June 30, 2013, filed with the U.S. Securities and Exchange Commission (“SEC”) on September 30, 2013. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' |
Risks and Uncertainties | |
We are subject to a number of risks and uncertainties that may significantly impact our future operating results. These risks and uncertainties are discussed under Part II, Item 1A, “Risk Factors” included in this Form 10-Q. As our interim description of risks and uncertainties only includes any material changes to our annual description, we refer you to our risk factors previously disclosed in Item 1A of our annual report on Form 10-K for the fiscal year ended June 30, 2013, as filed with the SEC. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition | |
We recognize revenue when there is persuasive evidence that an arrangement exists, title and risk of loss have passed, delivery has occurred or the services have been rendered, the sales price is fixed or determinable and collection of the related receivable is reasonably assured. Title and risk of loss generally pass to our customers upon shipment. In limited circumstances where either title or risk of loss pass upon destination or acceptance or when collection is not reasonably assured, we defer revenue recognition until such events occur. | |
Revenue for established products that have previously satisfied a customer’s acceptance requirements and provide for full payment tied to shipment is generally recognized upon shipment and passage of title. In limited cases where a prior history of customer acceptance cannot be demonstrated or sales where customer payment dates are not determinable or when collection is not reasonably assured, revenue is deferred until customer acceptance occurs or payment has been received. On the limited shipments where sales are not recognized, gross profit is generally recorded as deferred profit in our consolidated balance sheet representing the difference between the receivable recorded and the inventory shipped. | |
Deferred revenue is shown separately in the balance sheet, and deferred profit is included in other accrued liabilities in the balance sheet. At September 30, 2013, we had deferred revenue of approximately $1,286,000, and deferred profit of approximately $182,000. At June 30, 2013, we had deferred revenue of approximately $953,000 and deferred profit of approximately $209,000. | |
Marketable Securities, Policy [Policy Text Block] | ' |
Marketable Securities | |
Marketable securities consist primarily of high-quality U.S. corporate securities, U.S. federal government debt securities, corporate and municipal bonds, collateralized mortgage obligations and asset backed securities. Our marketable securities portfolio consists of short-term securities with original maturities of greater than three months from the date of purchase and remaining maturities of less than one year and long-term securities with original maturities of greater than one year and less than five years. Marketable securities are classified as “available-for-sale” and are recorded at fair value using the specific identification method; unrealized gains and losses are reflected in other comprehensive income until realized; realized gains and losses are included in earnings when the underlying securities are sold and are derived using the specific identification method for determining the cost of securities sold. If the credit ratings of the security issuers deteriorate or if market conditions deteriorate, we may be required to reduce the value of our investments through an impairment charge. | |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
Fair Value of Financial Instruments | |
We measure fair value on all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least quarterly). See “Note 5 – Fair Value Measurements.” | |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' |
Allowance for Doubtful Accounts | |
We estimate our allowance for doubtful accounts based on an assessment of the collectability of specific accounts and the overall condition of accounts receivable. In evaluating the adequacy of the allowance for doubtful accounts, we analyze specific trade receivables, historical bad debts, customer credits, customer credit-worthiness and changes in customers’ payment terms and patterns. If the financial condition of our customers were to deteriorate, resulting in an impairment of their ability to make additional payments, then we may need to make additional allowances. Likewise, if we determine that we could realize more of our receivables in the future than previously estimated, we would adjust the allowance to increase income in the period we made this determination. | |
Inventory, Policy [Policy Text Block] | ' |
Inventory Valuation | |
We record inventories at the lower of cost or market value. We assess the value of our inventories periodically based upon numerous factors including expected product or material demand, current market conditions, technological obsolescence, current cost and net realizable value. If necessary, we write down our inventory for estimated obsolescence, potential shrinkage, or unmarketable inventory equal to the difference between the cost of inventory and the estimated market value based upon assumptions about future demand and market conditions. If technology changes more rapidly than expected, or market conditions become less favorable than those projected by management, additional inventory write-downs may be required. | |
Standard Product Warranty, Policy [Policy Text Block] | ' |
Warranty Obligations | |
We provide for the estimated cost of product warranties at the time revenue is recognized. We engage in extensive product quality programs and processes, including active monitoring and evaluation of product failure rates, material usage and estimation of service delivery costs incurred in correcting a product failure. However, should actual product failure rates, material usage, or service delivery costs differ from our estimates, revisions to the estimated warranty liability would be required. Historically our warranty costs have not been significant. | |
Commitments and Contingencies, Policy [Policy Text Block] | ' |
Legal and Other Contingencies | |
The outcomes of legal proceedings and claims brought against us are subject to significant uncertainty. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued by a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. When legal costs that the entity expects to incur in defending itself in connection with a loss contingency accrual are expected to be material, the loss should factor in all costs and, if the legal costs are reasonably estimable, they should be accrued in accordance with ASC 450, regardless of whether a liability can be estimated for the contingency itself. Disclosure of a contingency is required if there is at least a reasonable possibility that a loss has been incurred. Changes in these factors could materially impact our financial statements. We have accrued $74,000 for such contingencies. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' |
Share-Based Compensation | |
Share-based compensation is accounted for in accordance with ASC 718, “Compensation – Stock Compensation.” We use the Black-Scholes option-pricing model to determine fair value of the award at the date of grant and recognize compensation expense over the vesting period. The inputs we use for the model require the use of judgment, estimates and assumptions regarding the expected volatility of the stock, the expected term the average employee will hold the option prior to the date of exercise, expected future dividends, and the amount of share-based awards that are expected to be forfeited. Changes in these inputs and assumptions could occur and actual results could differ from these estimates, and our results of operations could be impacted. | |
Income Tax, Policy [Policy Text Block] | ' |
Accounting for Income Taxes | |
We estimate our tax liabilities based on current tax laws in the statutory jurisdictions in which we operate in accordance with ASC 740, “Income Taxes.” These estimates include judgments about deferred tax assets and liabilities resulting from temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes, as well as about the realization of deferred tax assets. We may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and income tax disclosures. | |
We maintain a valuation allowance to reduce our deferred tax assets due to the uncertainty surrounding the timing of realizing the benefits of net deferred tax assets in future years. We have considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for such a valuation allowance. In the event we were to determine that we would be able to realize all or part of our net deferred tax asset in the future, the valuation allowance would be decreased accordingly. | |
We may periodically undergo examinations by the federal and state regulatory authorities and the Internal Revenue Service. We may be assessed additional taxes and/or penalties contingent on the outcome of these examinations. Our previous examinations have not resulted in any unfavorable or significant assessments. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recently adopted accounting guidance | |
On July 1, 2013 we adopted ASU 2013-02 guidance on disclosure requirements for items reclassified out of accumulated other comprehensive income. This new guidance requires entities to present (either on the face of the income statement or in the notes) the effects on the line items of the income statements for amounts reclassified out of accumulated other comprehensive income. Adoption of this new guidance did not impact our financial statements. | |
On July 1, 2013 we adopted ASU 2012-02 guidance on testing indefinite-lived intangible assets for impairment. The new guidance provides an entity with the option to first assess qualitative factors to determine whether it is necessary to perform a quantitative impairment test, simplifying the guidance for testing the decline in the realizable value (impairment) of indefinite-lived intangible assets other than goodwill. Examples of intangible assets subject to the guidance include indefinite-lived trademarks, licenses, and distribution rights. An organization electing to perform a qualitative assessment is no longer required to calculate the fair value of an indefinite-lived intangible asset unless the organization determines, based on a qualitative assessment, that it is “more likely than not” that the asset is impaired. Adoption of this new guidance did not impact our financial statements. | |
On July 1, 2013 we adopted ASU 2011-11 enhancing disclosure requirements about the nature of an entity’s right to offset and related arrangements associated with its financial instruments and derivative instruments. The new guidance requires the disclosure of the gross amounts subject to rights of set-off, amounts offset in accordance with the accounting standards followed, and the related net exposure. Adoption of this new guidance did not impact our financial statements. | |
Recent accounting guidance not yet adopted | |
In July 2013, the FASB issued ASU 2013-11 regarding disclosures in the financial statements for an unrecognized tax benefit when a net operating loss carryforward exists. The new guidance will become effective for us beginning July 1, 2014 and is not expected to impact our financial statements upon adoption. |
Note_4_Loss_per_Share_Tables
Note 4 - Loss per Share (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
In thousands (except per share amounts): | 2013 | 2012 | |||||||
Net loss (a) | $ | (2,527 | ) | $ | (1,946 | ) | |||
Weighted average outstanding shares of common stock (b) | 12,253 | 12,253 | |||||||
Dilutive potential common shares from employee stock options | — | — | |||||||
Common stock and common stock equivalents | 12,253 | 12,253 | |||||||
Loss per share: | |||||||||
Basic and dilutive net loss per share (a)/(b) | $ | (0.21 | ) | $ | (0.16 | ) |
Note_6_Cash_Cash_Equivalents_a1
Note 6 - Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ' | ||||||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
Adjusted | Unrealized | Unrealized Losses | Fair Value | Cash & | Short-term Marketable Securities | ||||||||||||||||||||||||
Cost | Gains | Cash | Long-term Marketable Securities | ||||||||||||||||||||||||||
Equivalents | |||||||||||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||||||
Cash | 757 | - | - | 757 | 757 | - | - | ||||||||||||||||||||||
Money Market Funds | 887 | - | - | 887 | 887 | - | - | ||||||||||||||||||||||
U.S. Treasury Securities | 494 | - | - | 494 | - | 494 | - | ||||||||||||||||||||||
Subtotal | $ | 2,138 | $ | - | $ | - | $ | 2,138 | $ | 1,644 | $ | 494 | $ | - | |||||||||||||||
Level 2: | |||||||||||||||||||||||||||||
U.S. Agency Securities | 540 | 1 | - | 541 | - | - | 541 | ||||||||||||||||||||||
Corporate securities | 4,296 | 2 | - | 4,298 | - | 2,763 | 1,535 | ||||||||||||||||||||||
Municipal securities | 4,787 | 11 | - | 4,798 | - | 3,580 | 1,218 | ||||||||||||||||||||||
Asset backed securities | 42 | - | - | 42 | - | 42 | - | ||||||||||||||||||||||
Subtotal | $ | 9,665 | $ | 14 | $ | - | $ | 9,679 | $ | - | $ | 6,385 | $ | 3,294 | |||||||||||||||
Total | $ | 11,803 | $ | 14 | $ | - | $ | 11,817 | $ | 1,644 | $ | 6,879 | $ | 3,294 | |||||||||||||||
30-Jun-13 | |||||||||||||||||||||||||||||
Adjusted | Unrealized | Unrealized Losses | Fair Value | Cash & | Short-term Marketable Securities | ||||||||||||||||||||||||
Cost | Gains | Cash | Long-term Marketable Securities | ||||||||||||||||||||||||||
Equivalents | |||||||||||||||||||||||||||||
Level 1: | |||||||||||||||||||||||||||||
Cash | 1,257 | - | - | 1,257 | 1,257 | ||||||||||||||||||||||||
Money Market Funds | 709 | - | - | 709 | 709 | ||||||||||||||||||||||||
U.S. Treasury Securities | 503 | - | - | 503 | - | 503 | - | ||||||||||||||||||||||
Subtotal | $ | 2,469 | $ | - | - | $ | 2,469 | $ | 1,966 | $ | 503 | $ | - | ||||||||||||||||
Level 2: | |||||||||||||||||||||||||||||
U.S. Agency Securities | 544 | - | (1 | ) | 543 | - | - | 543 | |||||||||||||||||||||
Corporate securities | 4,915 | 1 | (11 | ) | 4,905 | - | 2,745 | 2,160 | |||||||||||||||||||||
Municipal securities | 5,728 | 15 | - | 5,743 | - | 2,900 | 2,843 | ||||||||||||||||||||||
Asset backed securities | 127 | - | - | 127 | - | 127 | - | ||||||||||||||||||||||
Mortgage backed securities | 30 | - | - | 30 | - | 30 | - | ||||||||||||||||||||||
Subtotal | $ | 11,344 | $ | 16 | (12 | ) | $ | 11,348 | - | $ | 5,802 | $ | 5,546 | ||||||||||||||||
Total | $ | 13,813 | $ | 16 | (12 | ) | $ | 13,817 | $ | 1,966 | $ | 6,305 | $ | 5,546 | |||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||||||
30-Jun-13 | Fair | Unrealized | Fair | Unrealized | Fair | ||||||||||||||||||||||||
Value | Loss | Value | Loss | Value | Unrealized | ||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
U.S. Agency securities | - | - | 543 | (1 | ) | 543 | (1 | ) | |||||||||||||||||||||
Corporate securities | 2,745 | (3 | ) | 2,160 | (8 | ) | 4,905 | (11 | ) | ||||||||||||||||||||
Total | $ | 2,745 | $ | (3 | ) | $ | 2,703 | $ | (9 | ) | $ | 5,448 | $ | (12 | ) |
Note_7_Inventories_Tables
Note 7 - Inventories (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
September 30, | June 30, | ||||||||
2013 | 2013 | ||||||||
Raw materials | $ | 1,297 | $ | 1,027 | |||||
Finished goods | 2,464 | 1,684 | |||||||
Subtotal | 3,761 | 2,711 | |||||||
Less: Inventory reserve | (950 | ) | (1,083 | ) | |||||
Net inventory balance | $ | 2,811 | $ | 1,628 |
Note_8_Commitments_and_Conting1
Note 8 - Commitments and Contingencies (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Product Warranty Liability [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Beginning balance | $ | 190 | $ | 205 | |||||
Cost of warranty claims | (14 | ) | (13 | ) | |||||
Accruals for product warranties | (2 | ) | 11 | ||||||
Ending balance | $ | 174 | $ | 203 |
Note_12_Segment_Information_Ta
Note 12 - Segment Information (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Note 12 - Segment Information (Tables) [Line Items] | ' | ||||||||
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Net Revenues | |||||||||
Power supplies | $ | 953 | $ | 1,544 | |||||
Storage | 1,238 | 1,909 | |||||||
Total revenue | $ | 2,191 | $ | 3,453 | |||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ' | ||||||||
June 30, | |||||||||
September 30, | 2013 | ||||||||
2013 | |||||||||
Total assets | |||||||||
Cash and marketable securities: | |||||||||
Cash and cash equivalents | $ | 1,645 | $ | 1,966 | |||||
Marketable securities | 10,172 | 11,851 | |||||||
Total cash and marketable securities | $ | 11,817 | $ | 13,817 | |||||
Power supplies and storage: | |||||||||
Power supplies | (367 | ) | 538 | ||||||
Storage | 6,331 | 5,852 | |||||||
Power supplies and storage | $ | 5,974 | $ | 6,390 | |||||
Total assets | $ | 17,781 | $ | 20,207 | |||||
(Loss) Income Before Taxes By Segment [Member] | ' | ||||||||
Note 12 - Segment Information (Tables) [Line Items] | ' | ||||||||
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Loss before income taxes | |||||||||
Power supplies | $ | (318 | ) | $ | (298 | ) | |||
Storage | (2,209 | ) | (1,648 | ) | |||||
Total loss before taxes | $ | (2,527 | ) | $ | (1,946 | ) |
Note_13_Restructuring_Expenses1
Note 13 - Restructuring Expenses (Tables) | 3 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring and Related Costs [Table Text Block] | ' | ||||||||||||||||
Beginning | Expensed | Paid | Ending | ||||||||||||||
Balance | Balance | ||||||||||||||||
June 30, | September 30, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Lease abandonment obligation | $ | 1,040 | $ | - | $ | (101 | ) | $ | 939 | ||||||||
Total Restructuring Expenses | $ | 1,040 | $ | - | $ | (101 | ) | $ | 939 |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
Accounting Policies [Abstract] | ' | ' |
Deferred Revenue (in Dollars) | $1,286,000 | $953,000 |
Deferred Profit (in Dollars) | 182,000 | 209,000 |
Loss Contingency, Estimate of Possible Loss (in Dollars) | $74,000 | ' |
Note_3_Concentration_of_Credit1
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) [Line Items] | ' | ' |
Number Of Major Customers, Concentration Risk | 1 | 2 |
Customer 1 [Member] | Sales Revenue, Net [Member] | ' | ' |
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 14.80% | 13.60% |
Customer 1 [Member] | Accounts Receivable [Member] | ' | ' |
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 5.70% | 16.10% |
Customer 2 [Member] | Sales Revenue, Net [Member] | ' | ' |
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | ' | 10.30% |
Customer 2 [Member] | Accounts Receivable [Member] | ' | ' |
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | ' | 12.10% |
Sales Outside North America As Percent of Net Revenues [Member] | ' | ' |
Note 3 - Concentration of Credit Risk, Other Concentration Risks and Significant Customers (Details) [Line Items] | ' | ' |
Concentration Risk, Percentage | 38.80% | 36.50% |
Note_4_Loss_per_Share_Details_
Note 4 - Loss per Share (Details) - Computation of Basic and Diluted Net Loss Per Share (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Computation of Basic and Diluted Net Loss Per Share [Abstract] | ' | ' |
Net loss (a) (in Dollars) | ($2,527) | ($1,946) |
Weighted average outstanding shares of common stock (b) | 12,253 | 12,253 |
Dilutive potential common shares from employee stock options | 0 | 0 |
Common stock and common stock equivalents | 12,253 | 12,253 |
Loss per share: | ' | ' |
Basic and dilutive net loss per share (a)/(b) (in Dollars per share) | ($0.21) | ($0.16) |
Note_6_Cash_Cash_Equivalents_a2
Note 6 - Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value (Details) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash and Cash Equivalents [Abstract] | ' | ' |
Marketable Securities, Realized Gain (Loss) | $0 | ($22,000) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | $10,000 | $7,000 |
Note_6_Cash_Cash_Equivalents_a3
Note 6 - Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value (Details) - Summary of Available-For-Sale Securities (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | $11,803 | $13,813 |
Unrealized Gains | 14 | 16 |
Unrealized Losses | ' | -12 |
Fair Value | 11,817 | 13,817 |
Cash & Cash Equivalents | 1,644 | 1,966 |
Short-term Marketable Securities | 6,879 | 6,305 |
Long-term Marketable Securities | 3,294 | 5,546 |
Cash [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 757 | 1,257 |
Fair Value | 757 | 1,257 |
Cash & Cash Equivalents | 757 | 1,257 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 887 | 709 |
Fair Value | 887 | 709 |
Cash & Cash Equivalents | 887 | 709 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 494 | 503 |
Fair Value | 494 | 503 |
Short-term Marketable Securities | 494 | 503 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 540 | 544 |
Unrealized Gains | 1 | ' |
Unrealized Losses | ' | -1 |
Fair Value | 541 | 543 |
Long-term Marketable Securities | 541 | 543 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 4,296 | 4,915 |
Unrealized Gains | 2 | 1 |
Unrealized Losses | ' | -11 |
Fair Value | 4,298 | 4,905 |
Short-term Marketable Securities | 2,763 | 2,745 |
Long-term Marketable Securities | 1,535 | 2,160 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 4,787 | 5,728 |
Unrealized Gains | 11 | 15 |
Fair Value | 4,798 | 5,743 |
Short-term Marketable Securities | 3,580 | 2,900 |
Long-term Marketable Securities | 1,218 | 2,843 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 42 | 127 |
Fair Value | 42 | 127 |
Short-term Marketable Securities | 42 | 127 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | ' | 30 |
Fair Value | ' | 30 |
Short-term Marketable Securities | ' | 30 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 2,138 | 2,469 |
Fair Value | 2,138 | 2,469 |
Cash & Cash Equivalents | 1,644 | 1,966 |
Short-term Marketable Securities | 494 | 503 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Adjusted Cost | 9,665 | 11,344 |
Unrealized Gains | 14 | 16 |
Unrealized Losses | ' | -12 |
Fair Value | 9,679 | 11,348 |
Short-term Marketable Securities | 6,385 | 5,802 |
Long-term Marketable Securities | $3,294 | $5,546 |
Note_6_Cash_Cash_Equivalents_a4
Note 6 - Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value (Details) - Summary of Investments With Unrealized Losses (USD $) | 12 Months Ended | 3 Months Ended | |||||||||
In Thousands, unless otherwise specified | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | US Government Agencies Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Corporate Debt Securities [Member] | Less Than 12 Months [Member] | Greater Than 12 Months [Member] | Total [Member] | |||
Less Than 12 Months [Member] | Greater Than 12 Months [Member] | Total [Member] | Less Than 12 Months [Member] | Greater Than 12 Months [Member] | Total [Member] | ||||||
Note 6 - Cash, Cash Equivalents and Marketable Securities Recorded at Fair Value (Details) - Summary of Investments With Unrealized Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value | $13,817 | $11,817 | $0 | $543 | $543 | $2,745 | $2,160 | $4,905 | $2,745 | $2,703 | $5,448 |
Unrealized Loss | ($12) | ' | $0 | ($1) | ($1) | ($3) | ($8) | ($11) | ($3) | ($9) | ($12) |
Note_7_Inventories_Details_Inv
Note 7 - Inventories (Details) - Inventories at Lower of FIFO Cost or Market (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Inventories at Lower of FIFO Cost or Market [Abstract] | ' | ' |
Raw materials | $1,297 | $1,027 |
Finished goods | 2,464 | 1,684 |
Subtotal | 3,761 | 2,711 |
Less: Inventory reserve | -950 | -1,083 |
Net inventory balance | $2,811 | $1,628 |
Note_8_Commitments_and_Conting2
Note 8 - Commitments and Contingencies (Details) - Product Warranty Liability (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Product Warranty Liability [Abstract] | ' | ' |
Beginning balance | $190 | $205 |
Cost of warranty claims | -14 | -13 |
Accruals for product warranties | -2 | 11 |
Ending balance | $174 | $203 |
Note_9_Comprehensive_Loss_Deta
Note 9 - Comprehensive Loss (Details) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Disclosure Text Block [Abstract] | ' | ' |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($2,517,000) | ($1,939,000) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | $10,000 | $7,000 |
Note_10_Legal_Proceedings_Deta
Note 10 - Legal Proceedings (Details) (USD $) | Sep. 30, 2013 |
Disclosure Text Block Supplement [Abstract] | ' |
Loss Contingency, Accrual, Current | $74,000 |
Note_11_Income_Taxes_Details
Note 11 - Income Taxes (Details) (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Income Tax Expense (Benefit) | $0 | $0 |
Valuation Allowance, Commentary | 'The Company has recorded a full valuation allowance against its net deferred tax assets based on the Company's assessment regarding the realizability of these net deferred tax assets in future periods. | ' |
Note_12_Segment_Information_De
Note 12 - Segment Information (Details) | 3 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 2 |
Note_12_Segment_Information_De1
Note 12 - Segment Information (Details) - Segment Revenue (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' |
Revenue | $2,191 | $3,453 |
Power Supplies [Member] | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' |
Revenue | 953 | 1,544 |
Storage [Member] | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' |
Revenue | $1,238 | $1,909 |
Note_12_Segment_Information_De2
Note 12 - Segment Information (Details) - (Loss) Income Before Taxes by Segment (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' |
(Loss) Income Before Taxes | ($2,527) | ($1,946) |
Power Supplies [Member] | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' |
(Loss) Income Before Taxes | -318 | -298 |
Storage [Member] | ' | ' |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' |
(Loss) Income Before Taxes | ($2,209) | ($1,648) |
Note_12_Segment_Information_De3
Note 12 - Segment Information (Details) - Total Assets by Segment (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 |
In Thousands, unless otherwise specified | ||||
Cash and marketable securities: | ' | ' | ' | ' |
Cash and cash equivalents | $1,645 | $1,966 | $8,241 | $7,381 |
Marketable securities | 10,172 | 11,851 | ' | ' |
Total cash and marketable securities | 11,817 | 13,817 | ' | ' |
Power supplies and storage: | ' | ' | ' | ' |
Power supplies and Storage | 5,974 | 6,390 | ' | ' |
Total assets | 17,781 | 20,207 | ' | ' |
Power Supplies [Member] | ' | ' | ' | ' |
Power supplies and storage: | ' | ' | ' | ' |
Power supplies and Storage | -367 | 538 | ' | ' |
Storage [Member] | ' | ' | ' | ' |
Power supplies and storage: | ' | ' | ' | ' |
Power supplies and Storage | $6,331 | $5,852 | ' | ' |
Note_13_Restructuring_Expenses2
Note 13 - Restructuring Expenses (Details) - Restructuring expenses (USD $) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning Balance | $1,040,000 | ' |
Expensed | 0 | 882,000 |
Paid | -101 | ' |
Ending balance | 939,000 | ' |
Lease Abandonment Obligation [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning Balance | 1,040,000 | ' |
Expensed | 0 | ' |
Paid | -101 | ' |
Ending balance | $939,000 | ' |
Note_14_Shareholder_Activism_D
Note 14 - Shareholder Activism (Details) (BKF Capital Group, Inc. [Member], USD $) | Jan. 30, 2013 | Jun. 28, 2013 |
Partial Tender Offer [Member] | ||
Note 14 - Shareholder Activism (Details) [Line Items] | ' | ' |
Shares, Outstanding (in Shares) | ' | 2,239,419 |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | 18.30% |
Share Price (in Dollars per share) | $395,000 | ' |