Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | Gaming Partners International CORP | |
Entity Central Index Key | 918580 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | GPIC | |
Entity Common Stock, Shares Outstanding | 7,928,594 | |
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2015 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash and cash equivalents | $10,117 | $8,969 |
Marketable securities | 5,380 | 3,597 |
Accounts receivable, net | 9,080 | 10,327 |
Inventories | 7,973 | 9,063 |
Prepaid expenses | 1,068 | 749 |
Deferred income tax assets | 1,097 | 1,011 |
Other current assets | 2,242 | 2,273 |
Total current assets | 36,957 | 35,989 |
Property and equipment, net | 14,145 | 15,087 |
Goodwill | 10,292 | 10,292 |
Intangibles, net | 2,717 | 2,794 |
Deferred income tax asset | 2,570 | 2,003 |
Inventories, non-current | 504 | 523 |
Other assets | 1,589 | 1,706 |
Total assets | 68,774 | 68,394 |
Current Liabilities: | ||
Accounts payable | 4,047 | 3,321 |
Accrued liabilities | 3,783 | 3,906 |
Customer deposits and deferred revenue | 1,126 | 2,224 |
Current portion of short term debt | 10,000 | 10,000 |
Income taxes payable | 802 | 343 |
Total current liabilities | 19,758 | 19,794 |
Deferred income tax liability | 245 | 272 |
Other liabilities | 65 | 63 |
Total liabilities Total liabilities | 20,068 | 20,129 |
Commitments and contingencies - see Note 9 | ||
Stockholders' Equity: | ||
Preferred stock, authorized 10,000,000 shares, $.01 par value, none issued and outstanding | 0 | 0 |
Common stock, authorized 30,000,000 shares, $.01 par value, 8,219,577 and 7,928,594 issued and outstanding, respectively, as of March 31, 2015, and 8,207,077 and 7,916,094 issued and outstanding, respectively, as of December 31, 2014 | 82 | 82 |
Additional paid-in capital | 19,991 | 19,886 |
Treasury stock at cost: 290,983 shares | -2,263 | -2,263 |
Retained earnings | 32,838 | 30,881 |
Accumulated other comprehensive loss | -1,942 | -321 |
Total stockholders' equity | 48,706 | 48,265 |
Total liabilities and stockholders' equity | $68,774 | $68,394 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares issued | 8,219,577 | 8,207,077 |
Common stock, shares outstanding | 7,928,594 | 7,916,094 |
Treasury stock, shares | 290,983 | 290,983 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues | $18,656 | $10,559 |
Cost of revenues | 12,332 | 7,800 |
Gross profit | 6,324 | 2,759 |
Marketing and sales | 1,800 | 1,303 |
General and administrative | 2,416 | 2,068 |
Research and development | 339 | 437 |
Operating income (loss) | 1,769 | -1,049 |
Other income, net | 35 | 55 |
Income (loss) before income taxes | 1,804 | -994 |
Income tax (benefit) provision | -153 | 137 |
Net income (loss) | $1,957 | ($1,131) |
Earnings per share: | ||
Basic (in dollars per share) | $0.25 | ($0.14) |
Diluted (in dollars per share) | $0.24 | ($0.14) |
Weighted-average shares of common stock outstanding: | ||
Basic (in shares) | 7,916 | 7,916 |
Diluted (in shares) | 8,025 | 7,916 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net income (loss) | $1,957 | ($1,131) |
Other comprehensive loss: | ||
Foreign currency translation adjustment | -1,621 | -20 |
Other comprehensive loss, net of tax | -1,621 | -20 |
Total comprehensive income (loss) | $336 | ($1,151) |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2013 | $47,473 | $82 | $19,771 | ($2,262) | $28,205 | $1,677 |
Balance (in shares) at Dec. 31, 2013 | 7,916,094 | |||||
Net income (loss) | -1,131 | 0 | 0 | 0 | -1,131 | 0 |
Stock compensation expense | 52 | 0 | 52 | 0 | 0 | 0 |
Foreign currency translation adjustment | -20 | 0 | 0 | 0 | 0 | -20 |
Balance at Mar. 31, 2014 | 46,374 | 82 | 19,823 | -2,262 | 27,074 | 1,657 |
Balance (in shares) at Mar. 31, 2014 | 7,916,094 | |||||
Balance at Dec. 31, 2014 | 48,265 | 82 | 19,886 | -2,263 | 30,881 | -321 |
Balance (in shares) at Dec. 31, 2014 | 7,916,094 | |||||
Net income (loss) | 1,957 | 0 | 0 | 0 | 1,957 | 0 |
Stock compensation expense | 15 | 0 | 15 | 0 | 0 | 0 |
Foreign currency translation adjustment | -1,621 | 0 | 0 | 0 | 0 | -1,621 |
Common stock options exercised | 87 | 0 | 87 | 0 | 0 | 0 |
Common stock options exercised (Shares) | 12,500 | |||||
Tax benefit of stock options exercised | 3 | 0 | 3 | 0 | 0 | 0 |
Balance at Mar. 31, 2015 | $48,706 | $82 | $19,991 | ($2,263) | $32,838 | ($1,942) |
Balance (in shares) at Mar. 31, 2015 | 7,928,594 |
CONDENSED_CONSOLIDATED_STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows from Operating Activities | ||
Net income (loss) | $1,957 | ($1,131) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation | 680 | 565 |
Amortization of intangible assets | 77 | 31 |
Provision for bad debt | 139 | 38 |
Deferred income taxes | -672 | 431 |
Stock compensation expense | 15 | 52 |
Loss on sale or disposal of PPE | 38 | 0 |
(Gain) on sale of marketable securities | -1 | -1 |
Change in operating assets and liabilities: | ||
Accounts receivable | 1,072 | 325 |
Inventories | 780 | -5 |
Prepaid expenses and other current assets | -495 | -186 |
Non-current other assets | 63 | 40 |
Accounts payable | 810 | -243 |
Accrued liabilities | 122 | -17 |
Customer deposits and deferred revenue | -1,086 | 626 |
Other current liabilities | -87 | 0 |
Income taxes payable | 462 | -12 |
Net cash provided by operating activities | 3,874 | 513 |
Cash Flows from Investing Activities | ||
Purchases of marketable securities | -6,759 | -5,204 |
Proceeds from sale of marketable securities | 4,508 | 5,068 |
Initial deposit on business acquisition | 0 | -1,000 |
Proceeds from sale of PPE | 18 | 0 |
Capital expenditures | -174 | -53 |
Net cash used in investing activities | -2,407 | -1,189 |
Cash Flows from Financing Activities | ||
Proceeds from exercise of stock options | 87 | 0 |
Net cash provided by financing activities | 87 | 0 |
Effect of exchange rate changes on cash | -406 | -3 |
Net increase (decrease) in cash and cash equivalents | 1,148 | -679 |
Cash and cash equivalents, beginning of period | 8,969 | 14,492 |
Cash and cash equivalents, end of period | 10,117 | 13,813 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 63 | 0 |
Cash paid for income taxes, net of refunds | 3 | 11 |
Supplemental disclosure of non-cash investing and financing activities | ||
Property and equipment acquired through accounts payable | $47 | $0 |
Nature_of_Business_and_Signifi
Nature of Business and Significant Accounting Policies | 3 Months Ended | ||
Mar. 31, 2015 | |||
Accounting Policies [Abstract] | |||
Business Description and Accounting Policies [Text Block] | Note 1. Nature of Business and Significant Accounting Policies | ||
Organization and Nature of Business | |||
Gaming Partners International Corporation (GPIC or the Company) is headquartered in Las Vegas, Nevada and has three operating subsidiaries: Gaming Partners International USA, Inc. (GPI USA) (including GPI Mexicana S.A. de C.V. (GPI Mexicana), our maquiladora manufacturing operation in Mexico, and GPI USA Blue Springs, our manufacturing facility in Missouri), Gaming Partners International SAS (GPI SAS), and Gaming Partners International Asia Limited (GPI Asia). Our subsidiaries have the following distribution and product focus: | |||
• | GPI USA sells in the United States, Canada, the Caribbean, and Latin America. GPI USA sells our full product line, with most of the products manufactured in either San Luis Rio Colorado, Mexico, or Blue Springs, Missouri. The remainder is either manufactured in France or purchased from United States vendors. We also warehouse inventory in San Luis, Arizona, Blue Springs, Missouri, and at our Las Vegas, Nevada headquarters, and have sales offices in Las Vegas, Nevada; Atlantic City, New Jersey; Gulfport, Mississippi; and Blue Springs, Missouri. | ||
• | GPI SAS sells primarily in Europe and Africa out of its office in Beaune, France. GPI SAS predominantly sells casino currencies, including both American-style, known as chips, and European-style, known as plaques and jetons. Most of the products sold by GPI SAS are manufactured in France, with the remainder manufactured in Mexico. | ||
• | GPI Asia, located in Macau S.A.R., China, distributes all our casino currencies, radio frequency identification device (RFID) product solutions, playing cards, and other table accessories in the Asia-Pacific region. GPI Asia also sells table layouts and upholstery that it manufactures in Macau S.A.R. | ||
Our business activities include the manufacture and supply of casino currencies, playing cards, table layouts, gaming furniture, table accessories, dice, upholstery, roulette wheels, and RFID readers and software, all of which are used with casino table games such as blackjack, poker, baccarat, craps, and roulette. | |||
Significant Accounting Policies | |||
Basis of Consolidation and Presentation. The accompanying condensed consolidated financial statements include the accounts of GPIC and its wholly-owned subsidiaries GPI SAS, GPI USA, GPI Mexicana, and GPI Asia. All material intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and in the form prescribed by the Securities and Exchange Commission (SEC), and do not include all of the information and notes required by U.S. GAAP for complete financial statements. These statements should be read in conjunction with our annual audited consolidated financial statements and related notes included in our most recent Annual Report on Form 10-K/A for the fiscal year ended December 31, 2014, filed with the SEC on March 20, 2015. | |||
These unaudited condensed consolidated financial statements, in the opinion of management, reflect only normal and recurring adjustments necessary for a fair presentation of results and cash flows for the interim periods presented. The results of operations for an interim period are not necessarily indicative of the results for any other interim period or a full fiscal year. | |||
Recently Issued Accounting Standards. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenues from Contracts with Customers (Topic 606). This guidance applies to any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance supersedes existing revenue recognition guidance, including most industry-specific guidance, as well as certain related guidance on accounting for contract costs. At present, this guidance is effective for annual reporting periods beginning after December 15, 2016 and early application is not permitted. In April 2015, the FASB proposed a deferral of the effective date of ASU 2014-09. The proposal would defer required adoption for a one-year, until December 15, 2017, and would permit early application though in no case could the new guidance be applied before the original effective date. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. | |||
Acquisition
Acquisition | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Business Combinations [Abstract] | ||||||||
Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block] | Note 2. Acquisition | |||||||
On July 1, 2014, we acquired substantially all of the net gaming assets of GemGroup (GemGroup Acquisition), a manufacturer of playing cards, table layouts and casino currency primarily sold under the Gemaco® brand. The results of the GemGroup Acquisition have been consolidated with the Company’s results of operations and cash flows beginning on the date of the acquisition. The information in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K/A for the fiscal year ended December 31, 2014, filed with the SEC on March 20, 2015. | ||||||||
Due to integration of the combined businesses since the day of acquisition, it is impracticable to determine the earnings or loss contributed by the acquisition. | ||||||||
The following unaudited supplemental pro forma consolidated results of operations for the three months ended March 31, 2015 and for the three months ended March 31, 2014 have been prepared as if the GemGroup Acquisition had occurred at January 1, 2014 (unaudited; in thousands, except for per share data): | ||||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
Net revenues | $ | 18,656 | $ | 16,628 | ||||
Net income attributable to common stockholders | 1,957 | -596 | ||||||
Earnings per share—Basic | 0.25 | -0.08 | ||||||
Earnings per share—Diluted | 0.24 | -0.07 | ||||||
The unaudited supplemental pro forma consolidated results of operations is provided for illustrative purposes only and do not purport to be indicative of the results that would have been obtained if the GemGroup Acquisition had actually occurred as of the dates indicated or of those results that may be obtained in the future. These unaudited supplemental pro forma consolidated results of operations were derived, in part, from the historical financial statements of GemGroup and other available information and assumptions believed to be reasonable under the circumstances. | ||||||||
Cash_Cash_Equivalents_and_Mark
Cash, Cash Equivalents, and Marketable Securities | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ||||||||||||||||||||
Cash, Cash Equivalents, and Marketable Securities [Text Block] | Note 3. Cash, Cash Equivalents, and Marketable Securities | |||||||||||||||||||
We hold our cash, cash equivalents, and marketable securities in various financial institutions. Substantially all accounts have balances in excess of government-insured limits. The following summarizes the geographic location of our holdings (in thousands): | ||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Cash and | Marketable | Total | Cash and | Marketable | Total | |||||||||||||||
Cash | Securities | Cash | Securities | |||||||||||||||||
Equivalents | Equivalents | |||||||||||||||||||
United States (including Mexico) | $ | 4,331 | $ | - | $ | 4,331 | $ | 3,160 | $ | - | $ | 3,160 | ||||||||
France | 823 | 5,380 | 6,203 | 644 | 3,597 | 4,241 | ||||||||||||||
Macau S.A.R., China | 4,964 | - | 4,964 | 5,165 | - | 5,165 | ||||||||||||||
Total | $ | 10,117 | $ | 5,380 | $ | 15,497 | $ | 8,969 | $ | 3,597 | $ | 12,566 | ||||||||
Available-for-sale marketable securities consist of investments in securities such as certificates of deposit offered by French banks and bond mutual funds (in thousands): | ||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Cost | Unrealized | Fair Value | Cost | Unrealized | Fair Value | |||||||||||||||
Gain/(Loss) | Gain/(Loss) | |||||||||||||||||||
Certificates of deposit | $ | 1,085 | $ | - | $ | 1,085 | $ | 1,215 | $ | - | $ | 1,215 | ||||||||
Bond mutual funds | 4,295 | - | 4,295 | 2,382 | - | 2,382 | ||||||||||||||
Total marketable securities | $ | 5,380 | $ | - | $ | 5,380 | $ | 3,597 | $ | - | $ | 3,597 | ||||||||
We present our marketable securities at their estimated fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We have determined that all of our marketable securities are Level 1 financial instruments, with asset values recorded at quoted prices in active markets for identical assets. | ||||||||||||||||||||
Accounts_Receivable_and_Allowa
Accounts Receivable and Allowance for Doubtful Accounts | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Note 4. Accounts Receivable and Allowance for Doubtful Accounts | ||||||||||||||||
At March 31, 2015, one Macau customer, whose account is current, accounted for 12% of our accounts receivable balance. At December 31, 2014, one Macau casino customer accounted for 30% of our accounts receivable balance. | |||||||||||||||||
The allowance for doubtful accounts consists of the following (in thousands): | |||||||||||||||||
Balance at | |||||||||||||||||
Beginning of | Provision | Write-offs, Net | Exchange | Balance at End | |||||||||||||
Year | (Benefit) | of Recoveries | Rate Effect | of Period | |||||||||||||
31-Mar-15 | $ | 302 | $ | 139 | $ | -7 | $ | -5 | $ | 429 | |||||||
31-Dec-14 | $ | 114 | $ | 193 | $ | -5 | $ | - | $ | 302 | |||||||
Inventories
Inventories | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Inventory Disclosure [Text Block] | Note 5. Inventories | |||||||
Inventories consist of the following (in thousands): | ||||||||
March 31, 2015 | December 31, 2014 | |||||||
Raw materials | $ | 5,540 | $ | 5,747 | ||||
Work in progress | 996 | 1,257 | ||||||
Finished goods | 1,941 | 2,582 | ||||||
Total inventories | $ | 8,477 | $ | 9,586 | ||||
We classified a portion of our inventories as non-current because we do not expect this portion to be used within one year. The classification of our inventories on our condensed consolidated balance sheets is as follows (in thousands): | ||||||||
March 31, 2015 | December 31, 2014 | |||||||
Current | $ | 7,973 | $ | 9,063 | ||||
Non-current | 504 | 523 | ||||||
Total inventories | $ | 8,477 | $ | 9,586 | ||||
Property_and_Equipment
Property and Equipment | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | Note 6. Property and Equipment | |||||||
Property and equipment consists of the following (in thousands): | ||||||||
March 31, 2015 | December 31, 2014 | |||||||
Land | $ | 1,754 | $ | 1,784 | ||||
Buildings and improvements | 9,474 | 9,857 | ||||||
Equipment and furniture | 24,948 | 26,033 | ||||||
Vehicles | 379 | 368 | ||||||
36,555 | 38,042 | |||||||
Less accumulated depreciation | -22,410 | -22,955 | ||||||
Property and equipment, net | $ | 14,145 | $ | 15,087 | ||||
Depreciation expense for the three months ended March 31, 2015 and 2014 was $680 and $565, respectively. | ||||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||
Intangible Assets Disclosure [Text Block] | Note 7. Goodwill and Intangible Assets | |||||||||||||||||||||
We have goodwill valued at $10.3 million as of March 31, 2015 arising from the July 1, 2014 GemGroup Acquisition. | ||||||||||||||||||||||
Intangible assets consist of the following (in thousands): | ||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||
Gross | Net | Gross | Net | Estimated | ||||||||||||||||||
Carrying | Accum | Carrying | Carrying | Accum | Carrying | Useful Life | ||||||||||||||||
Amount | Amort | Amount | Amount | Amort | Amount | (Years) | ||||||||||||||||
Trademarks | $ | 1,742 | $ | -358 | $ | 1,384 | $ | 1,742 | $ | -327 | $ | 1,415 | 15-Oct | |||||||||
Customer list | 1,298 | -133 | 1,165 | 1,298 | -107 | 1,191 | 15-Oct | |||||||||||||||
Patents | 542 | -511 | 31 | 542 | -503 | 39 | 13-14 | |||||||||||||||
Other intangible assets | 427 | -290 | 137 | 207 | -58 | 149 | 10-Mar | |||||||||||||||
Total intangible assets | $ | 4,009 | $ | -1,292 | $ | 2,717 | $ | 3,789 | $ | -995 | $ | 2,794 | ||||||||||
Amortization expense for intangible assets for the three months ended March 31, 2015 and 2014 was $77 and $31, respectively. | ||||||||||||||||||||||
Debt
Debt | 3 Months Ended |
Mar. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 8. Debt |
On June 26, 2014, GPI USA and HSBC Bank USA, National Association, entered into a demand line of credit agreement with a limit of $10.0 million. Interest on the line of credit is LIBOR plus 2.25%. GPI USA borrowed $10.0 million under the line of credit to finance the GemGroup Acquisition. The line of credit is secured by a lien on all of the assets of GPI USA. The line of credit is guaranteed by GPIC and is subject to renewal by HSBC Bank USA in its sole discretion on June 30 of each year. | |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 9. Commitments and Contingencies |
Legal Proceedings and Contingencies | |
From time to time we are engaged in disputes and claims that arose in the normal course of business. We believe the ultimate outcome of these proceedings will not have a material adverse impact on our consolidated financial position or results of operations, but the outcome of these actions is inherently difficult to predict. There can be no assurance that we will prevail in any such litigation. Liabilities for material claims against us are accrued when a loss is considered probable and can be reasonably estimated. Legal costs associated with claims are expensed as incurred. | |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Equity [Abstract] | |||||||||||
Comprehensive Income (Loss) Note [Text Block] | Note 10. Accumulated Other Comprehensive Income | ||||||||||
Changes in accumulated other comprehensive income, net of tax, and by component for the three months ended March 31, 2015, were as follows (in thousands): | |||||||||||
Foreign | Unrealized | Total | |||||||||
Currency | Gains on | ||||||||||
Translation | Securities | ||||||||||
Balance at January 1, 2015 | $ | -322 | $ | 1 | $ | -321 | |||||
Other comprehensive loss | -1,621 | - | -1,621 | ||||||||
Balance at March 31, 2015 | $ | -1,943 | $ | 1 | $ | -1,942 | |||||
Geographic_and_Product_Line_In
Geographic and Product Line Information | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||
Segment Reporting Disclosure [Text Block] | Note 11. Geographic and Product Line Information | |||||||||||||
We manufacture and sell casino table game equipment in one operating segment - casino table game products. Although the Company derives its revenues from a number of different product lines, the Company neither allocates resources based on the operating results from the individual product lines, nor manages each individual product line as a separate business unit. Our chief operating decision maker is our Chief Executive Officer (CEO). The CEO manages our operations on a consolidated basis to make decisions about overall corporate resource allocation and to assess overall corporate profitability. Our CEO is also the chief operating manager for each of our entities in the United States, France, and Macau S.A.R.; that is, the individual locations do not have “segment,” “product line,” or other overall managers who report to our CEO. | ||||||||||||||
The following tables present our net sales by geographic area (in thousands): | ||||||||||||||
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2015 | 2014 | |||||||||||||
Revenues | ||||||||||||||
The Americas | $ | 12,304 | 65.9 | % | $ | 5,270 | 49.9 | % | ||||||
Asia-Pacific | 5,969 | 32 | % | 4,805 | 45.5 | % | ||||||||
Europe and Africa | 383 | 2.1 | % | 484 | 4.6 | % | ||||||||
Total | $ | 18,656 | 100 | % | $ | 10,559 | 100 | % | ||||||
The following tables present our net sales by product line (in thousands): | ||||||||||||||
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2015 | 2014 | |||||||||||||
Casino currency with RFID | 3,619 | 19.4 | % | 3,880 | 36.7 | % | ||||||||
Casino currency without RFID | $ | 3,079 | 16.5 | % | $ | 2,276 | 21.6 | % | ||||||
Total casino currency | 6,698 | 35.9 | % | 6,156 | 58.3 | % | ||||||||
Playing cards | 5,773 | 30.9 | % | 1,538 | 14.6 | % | ||||||||
Table layouts | 1,694 | 9.1 | % | 856 | 8.1 | % | ||||||||
Table accessories and other products | 1,642 | 8.8 | % | 651 | 6.2 | % | ||||||||
Dice | 601 | 3.2 | % | 510 | 4.8 | % | ||||||||
Gaming furniture | 588 | 3.2 | % | 256 | 2.4 | % | ||||||||
RFID solutions | 860 | 4.6 | % | 246 | 2.3 | % | ||||||||
Shipping | 800 | 4.3 | % | 346 | 3.3 | % | ||||||||
Total | $ | 18,656 | 100 | % | $ | 10,559 | 100 | % | ||||||
For the three months ended March 31, 2015, one casino customer accounted for 11% of revenues and for the three months ended March 31, 2014, a different customer accounted for 23% of revenues. | ||||||||||||||
The following table presents our property and equipment by geographic area (in thousands): | ||||||||||||||
Property and equipment, net: | March 31, 2015 | December 31, 2014 | ||||||||||||
United States | $ | 8,008 | $ | 8,199 | ||||||||||
France | 3,215 | 3,699 | ||||||||||||
Mexico | 2,763 | 3,055 | ||||||||||||
Asia | 159 | 134 | ||||||||||||
Total | $ | 14,145 | $ | 15,087 | ||||||||||
The following table presents our intangible assets by geographic area (in thousands): | ||||||||||||||
Intangible assets, net: | March 31, 2015 | December 31, 2014 | ||||||||||||
United States | $ | 2,185 | $ | 2,249 | ||||||||||
Asia | 525 | 535 | ||||||||||||
France | 7 | 10 | ||||||||||||
Total | $ | 2,717 | $ | 2,794 | ||||||||||
Earnings_per_Share_EPS
Earnings per Share (EPS) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Earnings Per Share [Abstract] | ||||||
Earnings Per Share [Text Block] | Note 12. Earnings per Share (EPS) | |||||
Shares used to compute basic and diluted earnings per share from operations are as follows: | ||||||
Three Months Ended | ||||||
March 31, | ||||||
2015 | 2014 | |||||
Weighted-average number of common shares outstanding - basic | 7,916 | 7,916 | ||||
Potential dilution from equity grants | 109 | - | ||||
Weighted-average number of common shares outstanding - diluted | 8,025 | 7,916 | ||||
Nature_of_Business_and_Signifi1
Nature of Business and Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation and Presentation. The accompanying condensed consolidated financial statements include the accounts of GPIC and its wholly-owned subsidiaries GPI SAS, GPI USA, GPI Mexicana, and GPI Asia. All material intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and in the form prescribed by the Securities and Exchange Commission (SEC), and do not include all of the information and notes required by U.S. GAAP for complete financial statements. These statements should be read in conjunction with our annual audited consolidated financial statements and related notes included in our most recent Annual Report on Form 10-K/A for the fiscal year ended December 31, 2014, filed with the SEC on March 20, 2015. |
These unaudited condensed consolidated financial statements, in the opinion of management, reflect only normal and recurring adjustments necessary for a fair presentation of results and cash flows for the interim periods presented. The results of operations for an interim period are not necessarily indicative of the results for any other interim period or a full fiscal year. | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenues from Contracts with Customers (Topic 606). This guidance applies to any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The core principle of this guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance supersedes existing revenue recognition guidance, including most industry-specific guidance, as well as certain related guidance on accounting for contract costs. At present, this guidance is effective for annual reporting periods beginning after December 15, 2016 and early application is not permitted. In April 2015, the FASB proposed a deferral of the effective date of ASU 2014-09. The proposal would defer required adoption for a one-year, until December 15, 2017, and would permit early application though in no case could the new guidance be applied before the original effective date. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. |
Acquisition_Tables
Acquisition (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Business Combinations [Abstract] | ||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited supplemental pro forma consolidated results of operations for the three months ended March 31, 2015 and for the three months ended March 31, 2014 have been prepared as if the GemGroup Acquisition had occurred at January 1, 2014 (unaudited; in thousands, except for per share data): | |||||||
Three Months Ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
Net revenues | $ | 18,656 | $ | 16,628 | ||||
Net income attributable to common stockholders | 1,957 | -596 | ||||||
Earnings per share—Basic | 0.25 | -0.08 | ||||||
Earnings per share—Diluted | 0.24 | -0.07 | ||||||
Cash_Cash_Equivalents_and_Mark1
Cash, Cash Equivalents, and Marketable Securities (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Cash and Cash Equivalents [Abstract] | ||||||||||||||||||||
Cash and Cash Equivalents and Marketable Securities [Table Text Block] | The following summarizes the geographic location of our holdings (in thousands): | |||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Cash and | Marketable | Total | Cash and | Marketable | Total | |||||||||||||||
Cash | Securities | Cash | Securities | |||||||||||||||||
Equivalents | Equivalents | |||||||||||||||||||
United States (including Mexico) | $ | 4,331 | $ | - | $ | 4,331 | $ | 3,160 | $ | - | $ | 3,160 | ||||||||
France | 823 | 5,380 | 6,203 | 644 | 3,597 | 4,241 | ||||||||||||||
Macau S.A.R., China | 4,964 | - | 4,964 | 5,165 | - | 5,165 | ||||||||||||||
Total | $ | 10,117 | $ | 5,380 | $ | 15,497 | $ | 8,969 | $ | 3,597 | $ | 12,566 | ||||||||
Available-for-sale Securities [Table Text Block] | Available-for-sale marketable securities consist of investments in securities such as certificates of deposit offered by French banks and bond mutual funds (in thousands): | |||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Cost | Unrealized | Fair Value | Cost | Unrealized | Fair Value | |||||||||||||||
Gain/(Loss) | Gain/(Loss) | |||||||||||||||||||
Certificates of deposit | $ | 1,085 | $ | - | $ | 1,085 | $ | 1,215 | $ | - | $ | 1,215 | ||||||||
Bond mutual funds | 4,295 | - | 4,295 | 2,382 | - | 2,382 | ||||||||||||||
Total marketable securities | $ | 5,380 | $ | - | $ | 5,380 | $ | 3,597 | $ | - | $ | 3,597 | ||||||||
Accounts_Receivable_and_Allowa1
Accounts Receivable and Allowance for Doubtful Accounts (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||
Schedule of Allowance for Doubtful Accounts Receivable Roll Forward [Table Text Block] | The allowance for doubtful accounts consists of the following (in thousands): | ||||||||||||||||
Balance at | |||||||||||||||||
Beginning of | Provision | Write-offs, Net | Exchange | Balance at End | |||||||||||||
Year | (Benefit) | of Recoveries | Rate Effect | of Period | |||||||||||||
31-Mar-15 | $ | 302 | $ | 139 | $ | -7 | $ | -5 | $ | 429 | |||||||
31-Dec-14 | $ | 114 | $ | 193 | $ | -5 | $ | - | $ | 302 | |||||||
Inventories_Tables
Inventories (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Schedule of Inventory, Current [Table Text Block] | Inventories consist of the following (in thousands): | |||||||
March 31, 2015 | December 31, 2014 | |||||||
Raw materials | $ | 5,540 | $ | 5,747 | ||||
Work in progress | 996 | 1,257 | ||||||
Finished goods | 1,941 | 2,582 | ||||||
Total inventories | $ | 8,477 | $ | 9,586 | ||||
Schedule of Inventory, Noncurrent [Table Text Block] | We classified a portion of our inventories as non-current because we do not expect this portion to be used within one year. The classification of our inventories on our condensed consolidated balance sheets is as follows (in thousands): | |||||||
March 31, 2015 | December 31, 2014 | |||||||
Current | $ | 7,973 | $ | 9,063 | ||||
Non-current | 504 | 523 | ||||||
Total inventories | $ | 8,477 | $ | 9,586 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property, Plant and Equipment [Table Text Block] | Property and equipment consists of the following (in thousands): | |||||||
March 31, 2015 | December 31, 2014 | |||||||
Land | $ | 1,754 | $ | 1,784 | ||||
Buildings and improvements | 9,474 | 9,857 | ||||||
Equipment and furniture | 24,948 | 26,033 | ||||||
Vehicles | 379 | 368 | ||||||
36,555 | 38,042 | |||||||
Less accumulated depreciation | -22,410 | -22,955 | ||||||
Property and equipment, net | $ | 14,145 | $ | 15,087 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Intangible assets consist of the following (in thousands): | |||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||
Gross | Net | Gross | Net | Estimated | ||||||||||||||||||
Carrying | Accum | Carrying | Carrying | Accum | Carrying | Useful Life | ||||||||||||||||
Amount | Amort | Amount | Amount | Amort | Amount | (Years) | ||||||||||||||||
Trademarks | $ | 1,742 | $ | -358 | $ | 1,384 | $ | 1,742 | $ | -327 | $ | 1,415 | 15-Oct | |||||||||
Customer list | 1,298 | -133 | 1,165 | 1,298 | -107 | 1,191 | 15-Oct | |||||||||||||||
Patents | 542 | -511 | 31 | 542 | -503 | 39 | 13-14 | |||||||||||||||
Other intangible assets | 427 | -290 | 137 | 207 | -58 | 149 | 10-Mar | |||||||||||||||
Total intangible assets | $ | 4,009 | $ | -1,292 | $ | 2,717 | $ | 3,789 | $ | -995 | $ | 2,794 | ||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||
Mar. 31, 2015 | |||||||||||
Equity [Abstract] | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes in accumulated other comprehensive income, net of tax, and by component for the three months ended March 31, 2015, were as follows (in thousands): | ||||||||||
Foreign | Unrealized | Total | |||||||||
Currency | Gains on | ||||||||||
Translation | Securities | ||||||||||
Balance at January 1, 2015 | $ | -322 | $ | 1 | $ | -321 | |||||
Other comprehensive loss | -1,621 | - | -1,621 | ||||||||
Balance at March 31, 2015 | $ | -1,943 | $ | 1 | $ | -1,942 | |||||
Geographic_and_Product_Line_In1
Geographic and Product Line Information (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||
Schedule of Revenue from Foreign Countries by Geographic Area [Table Text Block] | The following tables present our net sales by geographic area (in thousands): | |||||||||||||
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2015 | 2014 | |||||||||||||
Revenues | ||||||||||||||
The Americas | $ | 12,304 | 65.9 | % | $ | 5,270 | 49.9 | % | ||||||
Asia-Pacific | 5,969 | 32 | % | 4,805 | 45.5 | % | ||||||||
Europe and Africa | 383 | 2.1 | % | 484 | 4.6 | % | ||||||||
Total | $ | 18,656 | 100 | % | $ | 10,559 | 100 | % | ||||||
Schedule of Product Revenue [Table Text Block] | The following tables present our net sales by product line (in thousands): | |||||||||||||
Three Months Ended | ||||||||||||||
March 31, | ||||||||||||||
2015 | 2014 | |||||||||||||
Casino currency with RFID | 3,619 | 19.4 | % | 3,880 | 36.7 | % | ||||||||
Casino currency without RFID | $ | 3,079 | 16.5 | % | $ | 2,276 | 21.6 | % | ||||||
Total casino currency | 6,698 | 35.9 | % | 6,156 | 58.3 | % | ||||||||
Playing cards | 5,773 | 30.9 | % | 1,538 | 14.6 | % | ||||||||
Table layouts | 1,694 | 9.1 | % | 856 | 8.1 | % | ||||||||
Table accessories and other products | 1,642 | 8.8 | % | 651 | 6.2 | % | ||||||||
Dice | 601 | 3.2 | % | 510 | 4.8 | % | ||||||||
Gaming furniture | 588 | 3.2 | % | 256 | 2.4 | % | ||||||||
RFID solutions | 860 | 4.6 | % | 246 | 2.3 | % | ||||||||
Shipping | 800 | 4.3 | % | 346 | 3.3 | % | ||||||||
Total | $ | 18,656 | 100 | % | $ | 10,559 | 100 | % | ||||||
Schedule of Property Plant and Equipment by Geographic Area [Table Text Block] | The following table presents our property and equipment by geographic area (in thousands): | |||||||||||||
Property and equipment, net: | March 31, 2015 | December 31, 2014 | ||||||||||||
United States | $ | 8,008 | $ | 8,199 | ||||||||||
France | 3,215 | 3,699 | ||||||||||||
Mexico | 2,763 | 3,055 | ||||||||||||
Asia | 159 | 134 | ||||||||||||
Total | $ | 14,145 | $ | 15,087 | ||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table presents our intangible assets by geographic area (in thousands): | |||||||||||||
Intangible assets, net: | March 31, 2015 | December 31, 2014 | ||||||||||||
United States | $ | 2,185 | $ | 2,249 | ||||||||||
Asia | 525 | 535 | ||||||||||||
France | 7 | 10 | ||||||||||||
Total | $ | 2,717 | $ | 2,794 | ||||||||||
Earnings_per_Share_EPS_Tables
Earnings per Share (EPS) (Tables) | 3 Months Ended | |||||
Mar. 31, 2015 | ||||||
Earnings Per Share [Abstract] | ||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | Shares used to compute basic and diluted earnings per share from operations are as follows: | |||||
Three Months Ended | ||||||
March 31, | ||||||
2015 | 2014 | |||||
Weighted-average number of common shares outstanding - basic | 7,916 | 7,916 | ||||
Potential dilution from equity grants | 109 | - | ||||
Weighted-average number of common shares outstanding - diluted | 8,025 | 7,916 | ||||
Acquisition_Details
Acquisition (Details ) (GemGroup [Member], USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
GemGroup [Member] | ||
Net revenues | $18,656 | $16,628 |
Net income attributable to common stockholders | $1,957 | ($596) |
Earnings per share - Basic (in dollars per share) | $0.25 | ($0.08) |
Earnings per share - Diluted (in dollars per share) | $0.24 | ($0.07) |
Cash_Cash_Equivalents_and_Mark2
Cash, Cash Equivalents, and Marketable Securities (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and Cash Equivalents | $10,117 | $8,969 | $13,813 | $14,492 |
Marketable Securities | 5,380 | 3,597 | ||
Total | 15,497 | 12,566 | ||
United States (including Mexico) [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and Cash Equivalents | 4,331 | 3,160 | ||
Marketable Securities | 0 | 0 | ||
Total | 4,331 | 3,160 | ||
France [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and Cash Equivalents | 823 | 644 | ||
Marketable Securities | 5,380 | 3,597 | ||
Total | 6,203 | 4,241 | ||
Macau S.A.R., China [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Cash and Cash Equivalents | 4,964 | 5,165 | ||
Marketable Securities | 0 | 0 | ||
Total | $4,964 | $5,165 |
Cash_Cash_Equivalents_and_Mark3
Cash, Cash Equivalents, and Marketable Securities (Details 1) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Cost | $5,380 | $3,597 |
Unrealized Gain/(Loss) | 0 | 0 |
Fair Value | 5,380 | 3,597 |
Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost | 1,085 | 1,215 |
Unrealized Gain/(Loss) | 0 | 0 |
Fair Value | 1,085 | 1,215 |
Bond Mutual Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Cost | 4,295 | 2,382 |
Unrealized Gain/(Loss) | 0 | 0 |
Fair Value | $4,295 | $2,382 |
Accounts_Receivable_and_Allowa2
Accounts Receivable and Allowance for Doubtful Accounts (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance at Beginning of Year | $302 | $114 | $114 |
Provision (Benefit) | 139 | 38 | 193 |
Write-offs, Net of Recoveries | -7 | -5 | |
Exchange Rate Effect | -5 | 0 | |
Balance at End of Year | $429 | $302 |
Accounts_Receivable_and_Allowa3
Accounts Receivable and Allowance for Doubtful Accounts (Details Textual) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 100.00% | 100.00% |
One Casino Customer [Member] | Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentration Risk, Percentage | 12.00% | 30.00% |
Inventories_Details
Inventories (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ||
Raw materials | $5,540 | $5,747 |
Work in progress | 996 | 1,257 |
Finished goods | 1,941 | 2,582 |
Total inventories | $8,477 | $9,586 |
Inventories_Details_1
Inventories (Details 1) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Inventory [Line Items] | ||
Current | $7,973 | $9,063 |
Non-current | 504 | 523 |
Total inventories | $8,477 | $9,586 |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Land | $1,754 | $1,784 |
Buildings and improvements | 9,474 | 9,857 |
Equipment and furniture | 24,948 | 26,033 |
Vehicles | 379 | 368 |
Property, Plant and Equipment, Gross | 36,555 | 38,042 |
Less accumulated depreciation | -22,410 | -22,955 |
Property and equipment, net | $14,145 | $15,087 |
Property_and_Equipment_Details1
Property and Equipment (Details Textual) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Depreciation | $680 | $565 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | 4,009 | $3,789 |
Goodwill and Intangible assets, Accumulated Amortization | -1,292 | -995 |
Goodwill and Intangible assets, Net Carrying Amount | 2,717 | 2,794 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | 1,742 | 1,742 |
Goodwill and Intangible assets, Accumulated Amortization | -358 | -327 |
Goodwill and Intangible assets, Net Carrying Amount | 1,384 | 1,415 |
Trademarks [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 10 years | |
Trademarks [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 15 years | |
Customer List [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | 1,298 | 1,298 |
Goodwill and Intangible assets, Accumulated Amortization | -133 | -107 |
Goodwill and Intangible assets, Net Carrying Amount | 1,165 | 1,191 |
Customer List [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 10 years | |
Customer List [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 15 years | |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | 542 | 542 |
Goodwill and Intangible assets, Accumulated Amortization | -511 | -503 |
Goodwill and Intangible assets, Net Carrying Amount | 31 | 39 |
Patents [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 13 years | |
Patents [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 14 years | |
Other Intangible Assets [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Gross Carrying Amount | 427 | 207 |
Goodwill and Intangible assets, Accumulated Amortization | -290 | -58 |
Goodwill and Intangible assets, Net Carrying Amount | 137 | $149 |
Other Intangible Assets [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 3 years | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill and Intangible assets, Estimated Useful Life (Years) | 10 years |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Details Textual) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization Of Intangible Assets | $77 | $31 | |
Goodwill | 10,292 | 10,292 | |
GemGroup Inc [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | $10,300 |
Debt_Details_Textual
Debt (Details Textual) (USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Jun. 26, 2014 |
GPI USA and HSBC Bank USA [Member] | |
Line of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $10 |
Line of Credit Facility, Interest Rate Description | LIBOR plus 2.25% |
GPI USA [Member] | |
Line of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $10 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income [Line Items] | ||
Foreign Currency Translation, Beginning Balance | ($322) | |
Foreign Currency Translation, Other comprehensive loss | -1,621 | -20 |
Foreign Currency Translation, Ending Balance | -1,943 | |
Unrealized Gains on Securities, Beginning Balance | 1 | |
Unrealized Gains on Securities, Other comprehensive loss | 0 | |
Unrealized Gains on Securities, Ending Balance | 1 | |
Accumulated other comprehensive income, Beginning Balance | -321 | |
Accumulated other comprehensive income, Other comprehensive loss | -1,621 | -20 |
Accumulated other comprehensive income, Ending Balance | ($1,942) |
Geographic_and_Product_Line_In2
Geographic and Product Line Information (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Revenues | $18,656 | $10,559 |
Revenues, Percentage | 100.00% | 100.00% |
The Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 12,304 | 5,270 |
Revenues, Percentage | 65.90% | 49.90% |
Asia Pacific [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 5,969 | 4,805 |
Revenues, Percentage | 32.00% | 45.50% |
Europe and Africa [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $383 | $484 |
Revenues, Percentage | 2.10% | 4.60% |
Geographic_and_Product_Line_In3
Geographic and Product Line Information (Details 1) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Revenues | $18,656 | $10,559 |
Revenues, Percentage | 100.00% | 100.00% |
Casino currency with RFID [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 3,619 | 3,880 |
Revenues, Percentage | 19.40% | 36.70% |
Casino currency without RFID [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 3,079 | 2,276 |
Revenues, Percentage | 16.50% | 21.60% |
Total casino currency [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 6,698 | 6,156 |
Revenues, Percentage | 35.90% | 58.30% |
Playing Cards [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 5,773 | 1,538 |
Revenues, Percentage | 30.90% | 14.60% |
Table Layouts [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 1,694 | 856 |
Revenues, Percentage | 9.10% | 8.10% |
Table Accessories and Other Products [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 1,642 | 651 |
Revenues, Percentage | 8.80% | 6.20% |
Dice [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 601 | 510 |
Revenues, Percentage | 3.20% | 4.80% |
Gaming Furniture [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 588 | 256 |
Revenues, Percentage | 3.20% | 2.40% |
RFID Solutions [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 860 | 246 |
Revenues, Percentage | 4.60% | 2.30% |
Shipping [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $800 | $346 |
Revenues, Percentage | 4.30% | 3.30% |
Geographic_and_Product_Line_In4
Geographic and Product Line Information (Details 2) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $14,145 | $15,087 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 8,008 | 8,199 |
France [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 3,215 | 3,699 |
Mexico [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 2,763 | 3,055 |
Asia [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $159 | $134 |
Geographic_and_Product_Line_In5
Geographic and Product Line Information (Details 3) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | $2,717 | $2,794 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | 2,185 | 2,249 |
Asia [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | 525 | 535 |
France [Member] | ||
Segment Reporting Information [Line Items] | ||
Intangible assets, net | $7 | $10 |
Geographic_and_Product_Line_In6
Geographic and Product Line Information (Details Textual) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 100.00% | 100.00% |
One Casino Customer [Member] | Sales Revenue, Net [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues, Percentage | 11.00% | 23.00% |
Earnings_per_Share_EPS_Details
Earnings per Share (EPS) (Details) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Basic and Diluted Earnings Per Share [Line Items] | ||
Weighted-average number of common shares outstanding - basic | 7,916 | 7,916 |
Potential dilution from equity grants | 109 | 0 |
Weighted-average number of common shares outstanding - diluted | 8,025 | 7,916 |