![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
ICTS International NV (QB) | USOTC:ICTSF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.98 | 4.62 | 5.18 | 0.00 | 14:10:55 |
☐ |
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☒ |
SEMI-ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE SIX MONTHS ENDED JUNE 30, 2016
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐ |
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
4 - 14
|
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 14 - 16 |
SIGNATURES |
17
|
ICTS INTERNATIONAL N.V AND SUBSIDIARIES
|
CONSOLIDATED BALANCE SHEETS
|
(US $ in thousands, except share data)
|
(Unaudited)
|
ICTS INTERNATIONAL N.V AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
(US $ in thousands, except share and per share data)
|
(Unaudited)
|
Six months ended | Six months ended | |||||||
June 30, 2016
|
June 30, 2015
|
|||||||
Revenue
|
$
|
123,932
|
$
|
84,998
|
||||
Cost of revenue
|
109,978
|
77,907
|
||||||
GROSS PROFIT
|
13,954
|
7,091
|
||||||
Operating expenses:
|
||||||||
Research and development
|
1,159
|
1,371
|
||||||
Selling, general and administrative
|
11,260
|
10,257
|
||||||
Total operating expenses
|
12,419
|
11,628
|
||||||
OPERATING PROFIT (LOSS)
|
1,535
|
(4,537
|
)
|
|||||
Other income (expense), net
|
(4,540
|
)
|
295
|
|||||
LOSS BEFORE INCOME TAX EXPENSE
|
(3,005
|
)
|
(4,242
|
)
|
||||
Income tax expense
|
(306
|
)
|
(12
|
)
|
||||
NET LOSS
|
$
|
(3,311
|
)
|
$
|
(4,254
|
)
|
||
LOSS PER SHARE - BASIC AND DILUTED
|
||||||||
Net loss
|
$
|
(0.30
|
)
|
$
|
(0.53
|
)
|
||
Weighted average number of shares outstanding
|
10,961,698
|
8,061,698
|
||||||
COMPREHENSIVE LOSS
|
||||||||
Net loss
|
$
|
(3,311
|
)
|
$
|
(4,254
|
)
|
||
Translation adjustment
|
158
|
(159
|
)
|
|||||
Comprehensive loss
|
$
|
(3,153
|
)
|
$
|
(4,413
|
)
|
ICTS INTERNATIONAL N.V AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT
|
(US $ in thousands, except share and per share data)
|
(Unaudited)
|
Accumulated
|
||||||||||||||||||||||||
Additional
|
Other
|
Total
|
||||||||||||||||||||||
Common Stock
|
Paid-In
|
Accumulated
|
Comprehensive
|
Shareholders'
|
||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Loss
|
Deficit
|
|||||||||||||||||||
BALANCE AT DECEMBER 31, 2014
|
8,061,698
|
$
|
4,507
|
$
|
20,949
|
$
|
(57,194
|
)
|
$
|
(7,321
|
)
|
$
|
(39,059
|
)
|
||||||||||
Stock based compensation
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Net loss
|
-
|
-
|
-
|
(4,254
|
)
|
-
|
(4,254
|
)
|
||||||||||||||||
Translation adjustment
|
-
|
-
|
-
|
-
|
(159
|
)
|
(159
|
)
|
||||||||||||||||
BALANCE AT JUNE 30, 2015
|
8,061,698
|
4,507
|
20,949
|
(61,448
|
)
|
(7,480
|
)
|
(43,472
|
)
|
|||||||||||||||
Issuance of common stock
|
2,900,000
|
1,421
|
318
|
-
|
-
|
1,739
|
||||||||||||||||||
Net loss
|
-
|
-
|
-
|
(448
|
)
|
-
|
(448
|
)
|
||||||||||||||||
Translation adjustment
|
-
|
-
|
-
|
-
|
(27
|
)
|
(27
|
)
|
||||||||||||||||
BALANCE AT DECEMBER 31, 2015
|
10,961,698
|
5,928
|
21,267
|
(61,896
|
)
|
(7,507
|
)
|
(42,208
|
)
|
|||||||||||||||
Net loss
|
-
|
-
|
-
|
(3,311
|
)
|
-
|
(3,311
|
)
|
||||||||||||||||
Translation adjustment
|
-
|
-
|
-
|
-
|
158
|
158
|
||||||||||||||||||
BALANCE AT JUNE 30, 2016
|
10,961,698
|
5,928
|
21,267
|
(65,207
|
)
|
(7,349
|
)
|
(45,361
|
)
|
Period ended, June 30,
|
||||||||
|
2016 |
2015
|
||||||
Revenue
|
$
|
-
|
$
|
97
|
||||
Cost of revenue
|
-
|
95
|
||||||
Gross profit
|
-
|
2
|
||||||
Selling, general and administrative expenses
|
-
|
5
|
||||||
Operating loss
|
-
|
(3
|
)
|
|||||
Other income, net
|
-
|
3
|
||||||
Income tax benefit
|
-
|
-
|
||||||
Loss from discontinued operations
|
$
|
-
|
$
|
-
|
June 30,
|
December 31,
|
|||||||
2016
|
2015
|
|||||||
Accrued payroll and related costs
|
$
|
14,803
|
$
|
12,363
|
||||
Accrued vacation
|
6,631
|
4,522
|
||||||
Accrual for minimum wage increase
|
3,010
|
3,284
|
||||||
Cash overdraft
|
1,334
|
1,300
|
||||||
Labor union contribution
|
952
|
920
|
||||||
Other
|
1,473
|
2,676
|
||||||
Total accrued expenses and other current liabilities
|
$
|
28,203
|
$
|
25,065
|
Corporate
|
Aviation
Services |
Technology
|
Total
|
|||||||||||||
Six months ended June 30, 2016:
|
||||||||||||||||
Revenue
|
$
|
-
|
$
|
122,469
|
$
|
1,463
|
$
|
123,932
|
||||||||
Depreciation and amortization
|
3
|
410
|
20
|
433
|
||||||||||||
Net loss (profit)
|
5,313
|
(3,124
|
)
|
1,122
|
3,311
|
|||||||||||
Total assets
|
$
|
523
|
$
|
57,527
|
$
|
727
|
$
|
58,777
|
||||||||
Six months ended June 30, 2015:
|
||||||||||||||||
Revenue
|
$
|
-
|
$
|
84,495
|
$
|
503
|
$
|
84,998
|
||||||||
Depreciation and amortization
|
-
|
315
|
29
|
344
|
||||||||||||
Net loss (profit)
|
1,266
|
1,126
|
1,862
|
4,254
|
||||||||||||
Total assets
|
$
|
473
|
$
|
36,277
|
$
|
407
|
$
|
37,157
|
Six months ended June 30,
|
||||||||
2016
|
2015
|
|||||||
Netherlands
|
$
|
42,522
|
$
|
31,091
|
||||
Germany
|
53,326
|
28,368
|
||||||
United States of America
|
22,585
|
19,969
|
||||||
Other
|
5,499
|
5,570
|
||||||
Total
|
$
|
123,932
|
$
|
84,998
|
June 30,
|
||||||||
2016
|
2015
|
|||||||
Netherlands
|
$
|
751
|
$
|
510
|
||||
Germany
|
843
|
173
|
||||||
United States of America
|
337
|
298
|
||||||
Other
|
276
|
250
|
||||||
Total
|
$
|
2,207
|
$
|
1,231
|
|
Period ended June 30,
|
|||||||
2016
|
2015
|
|||||||
Revenue
|
100.0
|
%
|
100.0
|
%
|
||||
Cost of revenue
|
88.7
|
%
|
91.7
|
%
|
||||
Gross profit
|
11.3
|
%
|
8.3
|
%
|
||||
Research and development expenses
|
0.9
|
%
|
1.6
|
%
|
||||
Selling, general and administrative expenses
|
9.1
|
%
|
12.0
|
%
|
||||
Operating profit (loss)
|
1.3
|
%
|
(5.3
|
)%
|
||||
Other income (expense), net
|
(3.7
|
)%
|
0.3
|
%
|
||||
Loss before income tax benefit (expense)
|
(2.4
|
)%
|
(5.0
|
)%
|
||||
Income tax expense
|
(0.2
|
)%
|
(0.0
|
)%
|
||||
Net loss
|
(2.6
|
)%
|
(5.0
|
)%
|
ICTS INTERNATIONAL N.V.
|
By: /s/ Ran Langer
Ran Langer, Managing Director
|
1 Year ICTS International NV (QB) Chart |
1 Month ICTS International NV (QB) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions