|
Condensed Statements of Cash Flows (Unaudited) (USD $)
|
3 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ 995,000 |
$ (1,208,000) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization |
134,000 |
99,000 |
| Stock based compensation expense |
143,000 |
366,000 |
| Gain on sale of product line |
(2,000,000) |
0 |
| Net change in operating assets and liabilities: |
|
|
| Accounts receivable, net |
1,043,000 |
(447,000) |
| Inventories |
13,000 |
(230,000) |
| Prepaid expenses and other current assets |
(28,000) |
105,000 |
| Other assets |
0 |
1,000 |
| Accounts payable |
(982,000) |
29,000 |
| Accrued payroll and related expenses |
(26,000) |
142,000 |
| Deferred revenue |
(15,000) |
80,000 |
| Other liabilities |
(54,000) |
(457,000) |
| Net cash used in operating activities |
(777,000) |
(1,520,000) |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(295,000) |
(36,000) |
| Proceeds from sale of product line |
2,000,000 |
0 |
| Net cash provided by (used in) investing activities |
1,705,000 |
(36,000) |
| Cash flows from financing activities: |
|
|
| Repurchase of common stock |
(54,000) |
0 |
| Net cash used in financing activities |
(54,000) |
0 |
| Net increase (decrease) in cash and cash equivalents |
874,000 |
(1,556,000) |
| Cash and cash equivalents at beginning of period |
7,879,000 |
12,309,000 |
| Cash and cash equivalents at end of period |
8,753,000 |
10,753,000 |
| Supplemental non-cash financing and investing information: |
|
|
| Transfer of inventories to equipment |
$ 59,000 |
$ 0 |