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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CSP Inc | NASDAQ:CSPI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.68 | -5.20% | 12.39 | 12.00 | 14.85 | 13.4199 | 12.25 | 12.95 | 186,621 | 21:25:00 |
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x
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the Quarterly Period Ended
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December 31, 2016
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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|
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For the transition period from to .
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Massachusetts
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04-2441294
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(State of incorporation)
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(I.R.S. Employer Identification No.)
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Large accelerated filer
|
o
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Accelerated filer
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o
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|
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Non-accelerated filer
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o
(Do not check if a smaller reporting company)
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Smaller reporting company
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x
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Page
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December 31,
2016 |
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September 30,
2016 |
||||
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(Unaudited)
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|
|
||||
ASSETS
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
15,039
|
|
|
$
|
13,103
|
|
Accounts receivable, net of allowances of $239 and $240
|
16,309
|
|
|
18,997
|
|
||
Unbilled accounts receivable
|
685
|
|
|
567
|
|
||
Inventories, net
|
6,539
|
|
|
5,580
|
|
||
Deferred costs
|
2,107
|
|
|
635
|
|
||
Refundable income taxes
|
145
|
|
|
—
|
|
||
Deferred income taxes
|
1,331
|
|
|
1,331
|
|
||
Other current assets
|
1,347
|
|
|
1,586
|
|
||
Total current assets
|
43,502
|
|
|
41,799
|
|
||
Property, equipment and improvements, net
|
1,586
|
|
|
1,680
|
|
||
|
|
|
|
||||
Other assets:
|
|
|
|
|
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Intangibles, net
|
256
|
|
|
287
|
|
||
Deferred costs
|
399
|
|
|
18
|
|
||
Deferred income taxes
|
1,655
|
|
|
1,723
|
|
||
Cash surrender value of life insurance
|
3,127
|
|
|
3,015
|
|
||
Other assets
|
177
|
|
|
185
|
|
||
Total other assets
|
5,614
|
|
|
5,228
|
|
||
Total assets
|
$
|
50,702
|
|
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$
|
48,707
|
|
|
|
|
|
||||
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable and accrued expenses
|
$
|
14,927
|
|
|
$
|
11,932
|
|
Deferred revenue
|
4,374
|
|
|
4,704
|
|
||
Pension and retirement plans
|
522
|
|
|
581
|
|
||
Income taxes payable
|
—
|
|
|
166
|
|
||
Total current liabilities
|
19,823
|
|
|
17,383
|
|
||
Pension and retirement plans
|
12,802
|
|
|
13,441
|
|
||
Other long term liabilities
|
219
|
|
|
228
|
|
||
Total liabilities
|
32,844
|
|
|
31,052
|
|
||
|
|
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|
||||
Commitments and contingencies
|
|
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Shareholders’ equity:
|
|
|
|
||||
Common stock, $.01 par value per share; authorized, 7,500 shares; issued and outstanding 3,821 and 3,821 shares, respectively
|
39
|
|
|
39
|
|
||
Additional paid-in capital
|
13,032
|
|
|
12,924
|
|
||
Retained earnings
|
16,580
|
|
|
16,623
|
|
||
Accumulated other comprehensive loss
|
(11,793
|
)
|
|
(11,931
|
)
|
||
Total shareholders’ equity
|
17,858
|
|
|
17,655
|
|
||
Total liabilities and shareholders’ equity
|
$
|
50,702
|
|
|
$
|
48,707
|
|
|
For the three months ended
|
||||||
|
December 31,
2016 |
|
December 31,
2015 |
||||
Sales:
|
|
|
|
||||
Product
|
$
|
14,638
|
|
|
$
|
17,003
|
|
Services
|
5,278
|
|
|
6,673
|
|
||
Total sales
|
19,916
|
|
|
23,676
|
|
||
|
|
|
|
||||
Cost of sales:
|
|
|
|
||||
Product
|
12,225
|
|
|
14,236
|
|
||
Services
|
3,239
|
|
|
4,250
|
|
||
Total cost of sales
|
15,464
|
|
|
18,486
|
|
||
|
|
|
|
||||
Gross profit
|
4,452
|
|
|
5,190
|
|
||
|
|
|
|
||||
Operating expenses:
|
|
|
|
||||
Engineering and development
|
596
|
|
|
799
|
|
||
Selling, general and administrative
|
3,958
|
|
|
4,048
|
|
||
Total operating expenses
|
4,554
|
|
|
4,847
|
|
||
|
|
|
|
||||
Operating income (loss)
|
(102
|
)
|
|
343
|
|
||
|
|
|
|
||||
Other Income:
|
|
|
|
||||
Foreign exchange gain
|
54
|
|
|
39
|
|
||
Other expense, net
|
(10
|
)
|
|
(11
|
)
|
||
Total other income
|
44
|
|
|
28
|
|
||
Income (loss) before income taxes
|
(58
|
)
|
|
371
|
|
||
Income tax expense (benefit)
|
(15
|
)
|
|
88
|
|
||
Net income (loss)
|
$
|
(43
|
)
|
|
$
|
283
|
|
Net income (loss) attributable to common stockholders
|
$
|
(43
|
)
|
|
$
|
274
|
|
Net income (loss) per share – basic
|
$
|
(0.01
|
)
|
|
$
|
0.08
|
|
Weighted average shares outstanding – basic
|
3,671
|
|
|
3,569
|
|
||
Net income (loss) per share – diluted
|
$
|
(0.01
|
)
|
|
$
|
0.07
|
|
Weighted average shares outstanding – diluted
|
3,671
|
|
|
3,726
|
|
|
|
For the three months ended
|
||||||
|
|
December 31,
2016 |
|
December 31,
2015 |
||||
|
|
|
|
|
||||
Net income (loss)
|
|
$
|
(43
|
)
|
|
$
|
283
|
|
Other comprehensive income:
|
|
|
|
|
||||
Foreign currency translation gain adjustments
|
|
138
|
|
|
2
|
|
||
Other comprehensive income
|
|
138
|
|
|
2
|
|
||
Total comprehensive income
|
|
$
|
95
|
|
|
$
|
285
|
|
|
Shares
|
|
Amount
|
|
Additional
Paid-in
Capital
|
|
Retained
Earnings
|
|
Accumulated
other
comprehensive
loss
|
|
Total
Shareholders’
Equity
|
|||||||||||
Balance as of September 30, 2016
|
3,821
|
|
|
$
|
39
|
|
|
$
|
12,924
|
|
|
$
|
16,623
|
|
|
$
|
(11,931
|
)
|
|
$
|
17,655
|
|
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
(43
|
)
|
|
—
|
|
|
(43
|
)
|
|||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
138
|
|
|
138
|
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
108
|
|
|
—
|
|
|
—
|
|
|
108
|
|
|||||
Balance as of December 31, 2016
|
3,821
|
|
|
$
|
39
|
|
|
$
|
13,032
|
|
|
$
|
16,580
|
|
|
$
|
(11,793
|
)
|
|
$
|
17,858
|
|
|
For the three months ended
|
||||||
|
December 31,
2016 |
|
December 31,
2015 |
||||
Cash flows provided by (used in) operating activities:
|
|
|
|
||||
Net income (loss)
|
$
|
(43
|
)
|
|
$
|
283
|
|
Adjustments to reconcile net income (loss) to net cash used in operating activities:
|
|
|
|
|
|
||
Depreciation and amortization
|
126
|
|
|
129
|
|
||
Amortization of intangibles
|
31
|
|
|
32
|
|
||
Foreign exchange loss
|
(54
|
)
|
|
(39
|
)
|
||
Non-cash changes in accounts receivable
|
41
|
|
|
(29
|
)
|
||
Non-cash changes in inventory
|
62
|
|
|
116
|
|
||
Stock-based compensation expense on stock options and restricted stock awards
|
108
|
|
|
80
|
|
||
Deferred income taxes
|
(4
|
)
|
|
23
|
|
||
Increase in cash surrender value of life insurance
|
(46
|
)
|
|
(24
|
)
|
||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||
Decrease in accounts receivable
|
2,039
|
|
|
1,424
|
|
||
Decrease in officer life insurance receivable
|
413
|
|
|
—
|
|
||
Increase in inventories
|
(1,079
|
)
|
|
(284
|
)
|
||
Increase in deferred costs
|
(1,938
|
)
|
|
(116
|
)
|
||
(Increase) decrease in refundable income taxes
|
(148
|
)
|
|
41
|
|
||
Increase in other current assets
|
(190
|
)
|
|
(264
|
)
|
||
Increase (decrease) in accounts payable and accrued expenses
|
3,244
|
|
|
(675
|
)
|
||
Decrease in deferred revenue
|
(86
|
)
|
|
(1,078
|
)
|
||
Decrease in pension and retirement plans liability
|
(27
|
)
|
|
(53
|
)
|
||
Increase (decrease) in income taxes payable
|
(159
|
)
|
|
19
|
|
||
Increase in other long term liabilities
|
2
|
|
|
2
|
|
||
Net cash provided by (used in) operating activities
|
2,292
|
|
|
(413
|
)
|
||
Cash flows used in investing activities:
|
|
|
|
|
|
||
Purchases of property, equipment and improvements
|
(72
|
)
|
|
(189
|
)
|
||
Net cash used in investing activities
|
(72
|
)
|
|
(189
|
)
|
||
Cash flows provided by (used in) financing activities:
|
|
|
|
|
|
||
Net cash provided by (used in) financing activities
|
—
|
|
|
—
|
|
||
Effects of exchange rate on cash
|
(284
|
)
|
|
(48
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
1,936
|
|
|
(650
|
)
|
||
Cash and cash equivalents, beginning of period
|
13,103
|
|
|
11,181
|
|
||
Cash and cash equivalents, end of period
|
$
|
15,039
|
|
|
$
|
10,531
|
|
Supplementary cash flow information:
|
|
|
|
|
|
||
Cash paid for income taxes
|
$
|
165
|
|
|
$
|
23
|
|
Cash paid for interest
|
$
|
75
|
|
|
$
|
—
|
|
Non-cash accrual of dividend payable
|
$
|
—
|
|
|
$
|
414
|
|
|
|||||||
|
For the three months ended
|
||||||
|
December 31, 2016
|
|
December 31, 2015
|
||||
|
(Amounts in thousands except per share data)
|
||||||
Net income (loss)
|
$
|
(43
|
)
|
|
$
|
283
|
|
Less: net income (loss) attributable to nonvested common stock
|
—
|
|
|
9
|
|
||
Net income (loss) attributable to common stockholders
|
$
|
(43
|
)
|
|
$
|
274
|
|
|
|
|
|
||||
Weighted average total shares outstanding – basic
|
3,671
|
|
|
3,684
|
|
||
Less: weighted average non-vested shares outstanding
|
—
|
|
|
115
|
|
||
Weighted average number of common shares outstanding – basic
|
3,671
|
|
|
3,569
|
|
||
Potential common shares from non-vested stock awards and the assumed exercise of stock options
|
—
|
|
|
157
|
|
||
Weighted average common shares outstanding – diluted
|
3,671
|
|
|
3,726
|
|
||
|
|
|
|
||||
Net income (loss) per share – basic
|
$
|
(0.01
|
)
|
|
$
|
0.08
|
|
Net income (loss) per share – diluted
|
$
|
(0.01
|
)
|
|
$
|
0.07
|
|
|
December 31, 2016
|
|
September 30, 2016
|
||||
|
(Amounts in thousands)
|
||||||
Raw materials
|
$
|
1,472
|
|
|
$
|
1,658
|
|
Work-in-process
|
1,028
|
|
|
814
|
|
||
Finished goods
|
4,039
|
|
|
3,108
|
|
||
Total
|
$
|
6,539
|
|
|
$
|
5,580
|
|
|
|
December 31, 2016
|
|
September 30, 2016
|
||||
|
|
(Amounts in thousands)
|
||||||
Cumulative effect of foreign currency translation
|
|
$
|
(2,669
|
)
|
|
$
|
(2,807
|
)
|
Cumulative unrealized loss on pension liability
|
|
(9,124
|
)
|
|
(9,124
|
)
|
||
Accumulated other comprehensive loss
|
|
$
|
(11,793
|
)
|
|
$
|
(11,931
|
)
|
|
For the Three Months Ended December 31,
|
||||||||||||||||||||||
|
2016
|
|
2015
|
||||||||||||||||||||
|
Foreign
|
|
U.S.
|
|
Total
|
|
Foreign
|
|
U.S.
|
|
Total
|
||||||||||||
|
(Amounts in thousands)
|
||||||||||||||||||||||
Pension:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Service cost
|
$
|
10
|
|
|
$
|
—
|
|
|
$
|
10
|
|
|
$
|
9
|
|
|
$
|
—
|
|
|
$
|
9
|
|
Interest cost
|
93
|
|
|
11
|
|
|
104
|
|
|
151
|
|
|
11
|
|
|
162
|
|
||||||
Expected return on plan assets
|
(65
|
)
|
|
—
|
|
|
(65
|
)
|
|
(97
|
)
|
|
—
|
|
|
(97
|
)
|
||||||
Amortization of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Prior service gain
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Amortization of net gain
|
91
|
|
|
(1
|
)
|
|
90
|
|
|
45
|
|
|
(1
|
)
|
|
44
|
|
||||||
Net periodic benefit cost
|
$
|
129
|
|
|
$
|
10
|
|
|
$
|
139
|
|
|
$
|
108
|
|
|
$
|
10
|
|
|
$
|
118
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Post Retirement:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Service cost
|
$
|
—
|
|
|
$
|
10
|
|
|
$
|
10
|
|
|
$
|
—
|
|
|
$
|
7
|
|
|
$
|
7
|
|
Interest cost
|
—
|
|
|
10
|
|
|
10
|
|
|
—
|
|
|
11
|
|
|
11
|
|
||||||
Amortization of net gain (loss)
|
—
|
|
|
4
|
|
|
4
|
|
|
—
|
|
|
(21
|
)
|
|
(21
|
)
|
||||||
Net periodic cost (benefit)
|
$
|
—
|
|
|
$
|
24
|
|
|
$
|
24
|
|
|
$
|
—
|
|
|
$
|
(3
|
)
|
|
$
|
(3
|
)
|
|
Fair Values as of
|
||||||||||||||||||||||||||||||
|
December 31, 2016
|
|
September 30, 2016
|
||||||||||||||||||||||||||||
|
Fair Value Measurements Using Inputs Considered as
|
|
Fair Value Measurements Using Inputs Considered as
|
||||||||||||||||||||||||||||
Asset Category
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||||||
|
(Amounts in thousands)
|
||||||||||||||||||||||||||||||
Cash on deposit
|
$
|
76
|
|
|
$
|
76
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
86
|
|
|
$
|
86
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Pooled funds
|
7,087
|
|
|
—
|
|
|
7,087
|
|
|
—
|
|
|
7,543
|
|
|
—
|
|
|
7,543
|
|
|
—
|
|
||||||||
Total plan assets
|
$
|
7,163
|
|
|
$
|
76
|
|
|
$
|
7,087
|
|
|
$
|
—
|
|
|
$
|
7,629
|
|
|
$
|
86
|
|
|
$
|
7,543
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology Solutions Segment
|
|
|
||||||||||||||||||
For the three months ended December 31,
|
|
High Performance Products Segment
|
|
Germany
|
|
United
Kingdom
|
|
U.S.
|
|
Total
|
|
Consolidated
Total
|
||||||||||||
|
|
(Amounts in thousands)
|
||||||||||||||||||||||
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Product
|
|
$
|
1,527
|
|
|
$
|
2,080
|
|
|
$
|
701
|
|
|
$
|
10,330
|
|
|
$
|
13,111
|
|
|
$
|
14,638
|
|
Service
|
|
1,224
|
|
|
3,059
|
|
|
104
|
|
|
891
|
|
|
4,054
|
|
|
5,278
|
|
||||||
Total sales
|
|
2,751
|
|
|
5,139
|
|
|
805
|
|
|
11,221
|
|
|
17,165
|
|
|
19,916
|
|
||||||
Income (loss) from operations
|
|
46
|
|
|
(102
|
)
|
|
(206
|
)
|
|
160
|
|
|
(148
|
)
|
|
(102
|
)
|
||||||
Assets
|
|
17,766
|
|
|
15,532
|
|
|
2,873
|
|
|
14,531
|
|
|
32,936
|
|
|
50,702
|
|
||||||
Capital expenditures
|
|
17
|
|
|
44
|
|
|
—
|
|
|
11
|
|
|
55
|
|
|
72
|
|
||||||
Depreciation and amortization
|
|
55
|
|
|
38
|
|
|
3
|
|
|
61
|
|
|
102
|
|
|
157
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
2015
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Product
|
|
$
|
1,950
|
|
|
$
|
1,902
|
|
|
$
|
1,993
|
|
|
$
|
11,158
|
|
|
$
|
15,053
|
|
|
$
|
17,003
|
|
Service
|
|
867
|
|
|
4,772
|
|
|
190
|
|
|
844
|
|
|
5,806
|
|
|
6,673
|
|
||||||
Total sales
|
|
2,817
|
|
|
6,674
|
|
|
2,183
|
|
|
12,002
|
|
|
20,859
|
|
|
23,676
|
|
||||||
Income (loss) from operations
|
|
(423
|
)
|
|
463
|
|
|
(47
|
)
|
|
350
|
|
|
766
|
|
|
343
|
|
||||||
Assets
|
|
16,099
|
|
|
12,977
|
|
|
2,810
|
|
|
13,231
|
|
|
29,018
|
|
|
45,117
|
|
||||||
Capital expenditures
|
|
148
|
|
|
67
|
|
|
2
|
|
|
(28
|
)
|
|
41
|
|
|
189
|
|
||||||
Depreciation and amortization
|
|
57
|
|
|
40
|
|
|
5
|
|
|
59
|
|
|
104
|
|
|
161
|
|
|
|
For the three months ended December 31,
|
||||||||||||
|
|
2016
|
|
2015
|
||||||||||
|
|
Customer Revenues
|
|
% of Total
Revenues
|
|
Customer Revenues
|
|
% of Total
Revenues
|
||||||
|
|
(dollars in millions)
|
||||||||||||
Customer A
|
|
$
|
2.9
|
|
|
14
|
%
|
|
$
|
2.9
|
|
|
12
|
%
|
Customer B
|
|
$
|
2.1
|
|
|
11
|
%
|
|
$
|
3.8
|
|
|
16
|
%
|
|
|
December 31, 2016
|
|
%
of sales
|
|
December 31, 2015
|
|
%
of sales
|
||||||
|
|
(Dollar amounts in thousands)
|
||||||||||||
Total sales
|
|
$
|
19,916
|
|
|
100
|
%
|
|
$
|
23,676
|
|
|
100
|
%
|
Costs and expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Cost of sales
|
|
15,464
|
|
|
78
|
%
|
|
18,486
|
|
|
78
|
%
|
||
Engineering and development
|
|
596
|
|
|
3
|
%
|
|
799
|
|
|
4
|
%
|
||
Selling, general and administrative
|
|
3,958
|
|
|
20
|
%
|
|
4,048
|
|
|
17
|
%
|
||
Total costs and expenses
|
|
20,018
|
|
|
101
|
%
|
|
23,333
|
|
|
99
|
%
|
||
Operating income (loss)
|
|
(102
|
)
|
|
(1
|
)%
|
|
343
|
|
|
1
|
%
|
||
Other income
|
|
44
|
|
|
—
|
%
|
|
28
|
|
|
—
|
%
|
||
Income (loss) before income taxes
|
|
(58
|
)
|
|
(1
|
)%
|
|
371
|
|
|
1
|
%
|
||
Income tax expense
|
|
(15
|
)
|
|
—
|
%
|
|
88
|
|
|
—
|
%
|
||
Net income (loss)
|
|
$
|
(43
|
)
|
|
(1
|
)%
|
|
$
|
283
|
|
|
1
|
%
|
|
|
|
|
|
|
Increase (decrease)
|
|||||||||
|
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
|
(Dollar amounts in thousands)
|
|
|
|||||||||||
Products
|
|
$
|
1,527
|
|
|
$
|
1,950
|
|
|
$
|
(423
|
)
|
|
(22
|
)%
|
Services
|
|
1,224
|
|
|
867
|
|
|
357
|
|
|
41
|
%
|
|||
Total
|
|
$
|
2,751
|
|
|
$
|
2,817
|
|
|
$
|
(66
|
)
|
|
(2
|
)%
|
|
|
|
|
|
|
Decrease
|
|||||||||
|
|
2016
|
|
2015
|
|
$
|
|
%
|
|||||||
|
|
(Dollar amounts in thousands)
|
|
|
|||||||||||
Products
|
|
$
|
13,111
|
|
|
$
|
15,053
|
|
|
$
|
(1,942
|
)
|
|
(13
|
)%
|
Services
|
|
4,054
|
|
|
5,806
|
|
|
(1,752
|
)
|
|
(30
|
)%
|
|||
Total
|
|
$
|
17,165
|
|
|
$
|
20,859
|
|
|
$
|
(3,694
|
)
|
|
(18
|
)%
|
|
|
|
|
Decrease
|
|||||||||||||||||
|
|
2016
|
|
%
|
|
2015
|
|
%
|
|
$
|
|
%
|
|||||||||
|
|
(Dollar amounts in thousands)
|
|||||||||||||||||||
Americas
|
|
$
|
13,123
|
|
|
66
|
%
|
|
$
|
14,294
|
|
|
60
|
%
|
|
$
|
(1,171
|
)
|
|
(8
|
)%
|
Europe
|
|
6,497
|
|
|
33
|
%
|
|
8,996
|
|
|
38
|
%
|
|
(2,499
|
)
|
|
(28
|
)%
|
|||
Asia
|
|
296
|
|
|
1
|
%
|
|
386
|
|
|
2
|
%
|
|
(90
|
)
|
|
(23
|
)%
|
|||
Totals
|
|
$
|
19,916
|
|
|
100
|
%
|
|
$
|
23,676
|
|
|
100
|
%
|
|
$
|
(3,760
|
)
|
|
(16
|
)%
|
|
|
2016
|
|
2015
|
|
Increase (decrease)
|
|||||||||||||
|
|
GM$
|
GM%
|
|
GM$
|
GM%
|
|
GM$
|
|
GM%
|
|||||||||
|
|
(Dollar amounts in thousands)
|
|||||||||||||||||
HPP
|
|
$
|
1,760
|
|
64
|
%
|
|
$
|
1,593
|
|
57
|
%
|
|
$
|
167
|
|
|
7
|
%
|
TS
|
|
2,692
|
|
16
|
%
|
|
3,597
|
|
17
|
%
|
|
(905
|
)
|
|
(1
|
)%
|
|||
Total
|
|
$
|
4,452
|
|
22
|
%
|
|
$
|
5,190
|
|
22
|
%
|
|
$
|
(738
|
)
|
|
—
|
%
|
|
|
2016
|
|
2015
|
|
Increase (decrease)
|
|||||||||||||
|
|
GM$
|
GM%
|
|
GM$
|
GM%
|
|
GM$
|
|
GM%
|
|||||||||
|
|
(Dollar amounts in thousands)
|
|||||||||||||||||
Products
|
|
$
|
612
|
|
40
|
%
|
|
$
|
745
|
|
38
|
%
|
|
$
|
(133
|
)
|
|
2
|
%
|
Services
|
|
1,148
|
|
94
|
%
|
|
848
|
|
98
|
%
|
|
300
|
|
|
(4
|
)%
|
|||
Total
|
|
$
|
1,760
|
|
64
|
%
|
|
$
|
1,593
|
|
57
|
%
|
|
$
|
167
|
|
|
7
|
%
|
|
For the three months ended December 31,
|
|
|
|
|
|||||||||||||||
|
2016
|
|
% of
Total |
|
2015
|
|
% of
Total |
|
$ Increase (decrease)
|
|
% Decrease
|
|||||||||
|
(Dollar amounts in thousands)
|
|||||||||||||||||||
By Operating Segment:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
HPP segment
|
$
|
1,118
|
|
|
28
|
%
|
|
$
|
1,217
|
|
|
30
|
%
|
|
$
|
(99
|
)
|
|
(8
|
)%
|
TS segment
|
2,840
|
|
|
72
|
%
|
|
2,831
|
|
|
70
|
%
|
|
9
|
|
|
—
|
%
|
|||
Total
|
$
|
3,958
|
|
|
100
|
%
|
|
$
|
4,048
|
|
|
100
|
%
|
|
$
|
(90
|
)
|
|
(2
|
)%
|
|
For the three months ended,
|
|
|
||||||||
|
December 31, 2016
|
|
December 31, 2015
|
|
Increase (decrease)
|
||||||
|
(Amounts in thousands)
|
||||||||||
Interest expense
|
$
|
(19
|
)
|
|
$
|
(21
|
)
|
|
$
|
2
|
|
Interest income
|
4
|
|
|
1
|
|
|
3
|
|
|||
Foreign exchange gain
|
54
|
|
|
39
|
|
|
15
|
|
|||
Other income, net
|
5
|
|
|
9
|
|
|
(4
|
)
|
|||
Total other income (expense), net
|
$
|
44
|
|
|
$
|
28
|
|
|
$
|
16
|
|
Number
|
|
Description
|
31.1*
|
|
Rule 13(a)-14(a) / 15d-14(a) Certification of Chief Executive Officer
|
|
|
|
31.2*
|
|
Rule 13(a)-14(a) / 15d-14(a) Certification of Chief Financial Officer
|
|
|
|
32.1*
|
|
Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer
|
101*
|
|
Interactive Data Files regarding (a) our Consolidated Balance Sheets as of December 31, 2016 and September 30, 2016, (b) our Consolidated Statements of Operations for the three months ended December 31, 2016 and 2015, (c) our Consolidated Statements of Comprehensive Income for the three months ended December 31, 2016 and 2015, (d) our Consolidated Statement of Shareholders’ Equity for the three months ended December 31, 2016, (e) our Consolidated Statements of Cash Flows for the three months ended December 31, 2016 and 2015 and (f) the Notes to such Consolidated Financial Statements.
|
|
|
CSP INC.
|
|
|
|
|
Date: February 23, 2017
|
By:
|
/s/ Victor Dellovo
|
|
|
Victor Dellovo
|
|
|
Chief Executive Officer,
|
|
|
President and Director
|
|
|
|
Date: February 23, 2017
|
By:
|
/s/ Gary W. Levine
|
|
|
Gary W. Levine
|
|
|
Chief Financial Officer
|
Number
|
|
Description
|
31.1*
|
|
Rule 13(a)-14(a) / 15d-14(a) Certification of Chief Executive Officer
|
|
|
|
31.2*
|
|
Rule 13(a)-14(a) / 15d-14(a) Certification of Chief Financial Officer
|
|
|
|
32.1*
|
|
Section 1350 Certifications of Chief Executive Officer and Chief Financial Officer
|
101*
|
|
Interactive Data Files regarding (a) our Consolidated Balance Sheets as of December 31, 2016 and September 30, 2016, (b) our Consolidated Statements of Operations for the three months ended December 31, 2016 and 2015, (c) our Consolidated Statements of Comprehensive Income for the three months ended December 31, 2016 and 2015, (d) our Consolidated Statement of Shareholders’ Equity for the three months ended December 31, 2016 (e) our Consolidated Statements of Cash Flows for the three months ended December 31, 2016 and 2015 and (f) the Notes to such Consolidated Financial Statements.
|
|
1 Year CSP Chart |
1 Month CSP Chart |
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