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TheStreet Open House

Rimage Reports Second Quarter 2012 Financial Results

Stocks in this article: RIMG

(Tables to follow)

RIMAGE CORPORATION

Selected Consolidated Financial Information

(In thousands except per share data)

(Unaudited)

       
Consolidated Statements of Operations Information:
 

Three months ended

Six months ended

June 30,

June 30,

2012

2011

2012

2011

 
Revenues $ 18,284

$

20,194

$ 37,745 $ 41,650
Cost of revenues   9,987     10,315   19,875     20,987
Gross profit   8,297     9,879   17,870     20,663
Operating expenses:
Research and development 2,894 1,516 5,999 3,068
Selling, general and administrative 8,866 6,543 18,062 13,449
Amortization of purchased intangibles   264     -   511     -
Total operating expenses   12,024     8,059   24,572     16,517
Operating income (loss) (3,727 ) 1,820 (6,702 ) 4,146
Other income (expense), net   4     55   (64 )   89
Income (loss) before income taxes (3,723 ) 1,875 (6,766 ) 4,235
Income tax expense (benefit)   (902 )   728   (2,176 )

 

1,605
Net income (loss) (2,821 ) 1,147 (4,590 ) 2,630

Net loss attributable to noncontrolling interest

  71     59   135     74
Net income (loss) attributable to Rimage $ (2,750 )

$

1,206 $ (4,455 ) $ 2,704
 
Net income (loss) per basic share $ (0.27 ) $ 0.12 $ (0.44 ) $ 0.28
 
Net income (loss) per diluted share $ (0.27 ) $ 0.12 $ (0.44 ) $ 0.28

Basic weighted averages hares outstanding

  10,177     9,559   10,197     9,526

Diluted weighted average shares outstanding

  10,177     9,589   10,197     9,565
 

Consolidated Balance Sheet Information:

Balance as of

June 30,

December 31,

2012

2011

 
Cash and marketable securities $ 62,342 $ 70,161
Receivables 11,350 15,496
Inventories 5,727 6,198
Total current assets 85,688 98,437
Property and equipment, net 6,464 6,177
Total assets 147,299 157,660
Current liabilities 17,816 20,156
Long-term liabilities 5,300 5,204
Noncontrolling interest 227 360
Rimage stockholders’ equity 123,956 131,940
 




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