10-Q/A Filing

TELOS CORP CIK: 320121 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001140361-11-044163`
Period End Date	20110630
Filing Date	20110831
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	tlsrp-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 60 Cash Flow Statement 64

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$363.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$358.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$379.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$283.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$78.00K	USD	Point-in-time
Accounts receivable, net of reserve of $363 and $358, respectively	`AccountsReceivableNetCurrent`	$54.09M	USD	Point-in-time
Accounts receivable, net of reserve of $363 and $358, respectively	`AccountsReceivableNetCurrent`	$41.78M	USD	Point-in-time
Inventories, obsolescence reserve	`InventoryValuationReserves`	$254.00K	USD	Point-in-time
Inventories, obsolescence reserve	`InventoryValuationReserves`	$319.00K	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.95M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.26M	USD	Point-in-time
Inventories, net of obsolescence reserve of $254 and $319, respectively	`InventoryNet`	$9.29M	USD	Point-in-time
Inventories, net of obsolescence reserve of $254 and $319, respectively	`InventoryNet`	$7.31M	USD	Point-in-time
Deferred program expenses	`OtherPrepaidExpenseCurrent`	$2.66M	USD	Point-in-time
Deferred program expenses	`OtherPrepaidExpenseCurrent`	$217.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$3.41M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.88M	USD	Point-in-time
Total current assets (Note 6)	`AssetsCurrent`	$54.99M	USD	Point-in-time
Total current assets (Note 6)	`AssetsCurrent`	$67.05M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $20,259 and $19,950, respectively	`PropertyPlantAndEquipmentNet`	$5.74M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $20,259 and $19,950, respectively	`PropertyPlantAndEquipmentNet`	$5.22M	USD	Point-in-time
Deferred income taxes, long-term	`DeferredTaxAssetsNetNoncurrent`	$1.67M	USD	Point-in-time
Deferred income taxes, long-term	`DeferredTaxAssetsNetNoncurrent`	$1.67M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$351.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$339.00K	USD	Point-in-time
Total assets (Note 6)	`Assets`	$74.80M	USD	Point-in-time
Total assets (Note 6)	`Assets`	$62.22M	USD	Point-in-time
Accounts payable and other accrued payables (Note 6)	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$20.30M	USD	Point-in-time
Accounts payable and other accrued payables (Note 6)	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$28.93M	USD	Point-in-time
Accrued compensation and benefits	`DeferredCompensationLiabilityCurrent`	$5.93M	USD	Point-in-time
Accrued compensation and benefits	`DeferredCompensationLiabilityCurrent`	$6.88M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.96M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$4.39M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$275.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$434.00K	USD	Point-in-time
Senior credit facility - short-term (Note 6)	`LinesOfCreditCurrent`	$375.00K	USD	Point-in-time
Senior credit facility - short-term (Note 6)	`LinesOfCreditCurrent`	$375.00K	USD	Point-in-time
Capital lease obligations - short-term	`CapitalLeaseObligationsCurrent`	$945.00K	USD	Point-in-time
Capital lease obligations - short-term	`CapitalLeaseObligationsCurrent`	$980.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.76M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.58M	USD	Point-in-time
Senior revolving credit facility (Note 6)	`LongTermLineOfCredit`	$13.79M	USD	Point-in-time
Senior revolving credit facility (Note 6)	`LongTermLineOfCredit`	$12.26M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$5.47M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$5.95M	USD	Point-in-time
Senior redeemable preferred stock (Note 7)	`RedeemableNoncontrollingInterestEquityOtherCarryingAmount`	$10.19M	USD	Point-in-time
Senior redeemable preferred stock (Note 7)	`RedeemableNoncontrollingInterestEquityOtherCarryingAmount`	$8.07M	USD	Point-in-time
Public preferred stock (Note 7)	`RedeemableNoncontrollingInterestEquityPreferredCarryingAmount`	$106.72M	USD	Point-in-time
Public preferred stock (Note 7)	`RedeemableNoncontrollingInterestEquityPreferredCarryingAmount`	$104.81M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$100.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$83.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$180.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$166.20M	USD	Point-in-time
Commitments, contingencies and subsequent events (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments, contingencies and subsequent events (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$78.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$78.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$103.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$103.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-67.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-106.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-104.51M	USD	Point-in-time
Total Telos stockholders' deficit	`StockholdersEquity`	$-104.39M	USD	Point-in-time
Total Telos stockholders' deficit	`StockholdersEquity`	$-106.25M	USD	Point-in-time
Non-controlling interest in subsidiary (Note 2)	`MinorityInterest`	$454.00K	USD	Point-in-time
Non-controlling interest in subsidiary (Note 2)	`MinorityInterest`	$410.00K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-105.80M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-103.98M	USD	Point-in-time
Total liabilities, redeemable preferred stock, non-controlling interest and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$62.22M	USD	Point-in-time
Total liabilities, redeemable preferred stock, non-controlling interest and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$74.80M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$49.39M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$16.84M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$7.94M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$23.77M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$67.61M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$65.36M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$33.20M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$31.32M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$41.15M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$48.16M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$89.12M	USD	2 Qtrs
Total revenue	`SalesRevenueNet`	$117.00M	USD	2 Qtrs
Cost of sales - Products	`CostOfGoodsSold`	$6.50M	USD	1 Quarter
Cost of sales - Products	`CostOfGoodsSold`	$14.31M	USD	1 Quarter
Cost of sales - Products	`CostOfGoodsSold`	$43.66M	USD	2 Qtrs
Cost of sales - Products	`CostOfGoodsSold`	$18.96M	USD	2 Qtrs
Cost of sales - Services	`CostOfServices`	$23.32M	USD	1 Quarter
Cost of sales - Services	`CostOfServices`	$53.69M	USD	2 Qtrs
Cost of sales - Services	`CostOfServices`	$46.95M	USD	2 Qtrs
Cost of sales - Services	`CostOfServices`	$23.45M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$37.76M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$29.82M	USD	1 Quarter
Total costs and expenses	`CostOfRevenue`	$65.90M	USD	2 Qtrs
Total costs and expenses	`CostOfRevenue`	$97.35M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.98M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.30M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.47M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.80M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$7.41M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$4.18M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$3.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.35M	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$15.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$41.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$253.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$281.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.46M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.92M	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.22M	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.53M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.58M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.78M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.14M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.00M	USD	2 Qtrs
Provision for income taxes (Note 8)	`IncomeTaxExpenseBenefit`	$2.31M	USD	2 Qtrs
Provision for income taxes (Note 8)	`IncomeTaxExpenseBenefit`	$497.00K	USD	2 Qtrs
Provision for income taxes (Note 8)	`IncomeTaxExpenseBenefit`	$951.00K	USD	1 Quarter
Provision for income taxes (Note 8)	`IncomeTaxExpenseBenefit`	$818.00K	USD	1 Quarter
Net income	`ProfitLoss`	$507.00K	USD	2 Qtrs
Net income	`ProfitLoss`	$1.19M	USD	1 Quarter
Net income	`ProfitLoss`	$2.47M	USD	2 Qtrs
Net income	`ProfitLoss`	$767.00K	USD	1 Quarter
Less: Net income attributable to non-controlling interest (Note 2)	`NetIncomeLossAttributableToNoncontrollingInterest`	$289.00K	USD	2 Qtrs
Less: Net income attributable to non-controlling interest (Note 2)	`NetIncomeLossAttributableToNoncontrollingInterest`	$385.00K	USD	1 Quarter
Less: Net income attributable to non-controlling interest (Note 2)	`NetIncomeLossAttributableToNoncontrollingInterest`	$572.00K	USD	2 Qtrs
Less: Net income attributable to non-controlling interest (Note 2)	`NetIncomeLossAttributableToNoncontrollingInterest`	$405.00K	USD	1 Quarter
Net income attributable to Telos Corporation	`NetIncomeLoss`	$382.00K	USD	1 Quarter
Net income attributable to Telos Corporation	`NetIncomeLoss`	$218.00K	USD	2 Qtrs
Net income attributable to Telos Corporation	`NetIncomeLoss`	$780.00K	USD	1 Quarter
Net income attributable to Telos Corporation	`NetIncomeLoss`	$1.90M	USD	2 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$507.00K	USD	2 Qtrs
Net income	`ProfitLoss`	$1.19M	USD	1 Quarter
Net income	`ProfitLoss`	$2.47M	USD	2 Qtrs
Net income	`ProfitLoss`	$767.00K	USD	1 Quarter
Gain on redemption of senior preferred stock	`PreferredStockRedemptionPremium`	$-230.00K	USD	2 Qtrs
Gain on redemption of senior preferred stock	`PreferredStockRedemptionPremium`	-	USD	2 Qtrs
Dividends of preferred stock as interest expense	`DividendsPreferredStockAsInterestExpense`	$2.12M	USD	2 Qtrs
Dividends of preferred stock as interest expense	`DividendsPreferredStockAsInterestExpense`	$2.09M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$796.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$772.00K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$36.00K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$80.00K	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-159.00K	USD	2 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Other noncash items	`OtherNoncashIncomeExpense`	$11.00K	USD	2 Qtrs
Other noncash items	`OtherNoncashIncomeExpense`	$35.00K	USD	2 Qtrs
Changes in other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.10M	USD	2 Qtrs
Changes in other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.62M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.63M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.62M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$253.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$353.00K	USD	2 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-353.00K	USD	2 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-253.00K	USD	2 Qtrs
Proceeds from senior credit facility	`ProceedsFromLinesOfCredit`	$120.91M	USD	2 Qtrs
Proceeds from senior credit facility	`ProceedsFromLinesOfCredit`	$118.50M	USD	2 Qtrs
Repayments of senior credit facility	`RepaymentsOfLinesOfCredit`	$124.97M	USD	2 Qtrs
Repayments of senior credit facility	`RepaymentsOfLinesOfCredit`	$119.83M	USD	2 Qtrs
Proceeds from term loan	`ProceedsFromBankDebt`	-	USD	2 Qtrs
Proceeds from term loan	`ProceedsFromBankDebt`	$7.50M	USD	2 Qtrs
Decrease in book overdrafts	`IncreaseDecreaseInBookOverdrafts`	$-1.56M	USD	2 Qtrs
Decrease in book overdrafts	`IncreaseDecreaseInBookOverdrafts`	$-2.42M	USD	2 Qtrs
Repayment of term loan	`RepaymentsOfBankDebt`	$187.00K	USD	2 Qtrs
Repayment of term loan	`RepaymentsOfBankDebt`	-	USD	2 Qtrs
Payments under capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$442.00K	USD	2 Qtrs
Payments under capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$400.00K	USD	2 Qtrs
Redemption of senior preferred stock	`PaymentsForRepurchaseOfRedeemablePreferredStock`	$2.07M	USD	2 Qtrs
Redemption of senior preferred stock	`PaymentsForRepurchaseOfRedeemablePreferredStock`	-	USD	2 Qtrs
Payment of senior subordinated notes	`RepaymentsOfSubordinatedDebt`	$4.18M	USD	2 Qtrs
Payment of senior subordinated notes	`RepaymentsOfSubordinatedDebt`	-	USD	2 Qtrs
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$75.00K	USD	2 Qtrs
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Distributions to Telos ID Class B membership unit - non-controlling interest	`PaymentsToMinorityShareholders`	$323.00K	USD	2 Qtrs
Distributions to Telos ID Class B membership unit - non-controlling interest	`PaymentsToMinorityShareholders`	$616.00K	USD	2 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.96M	USD	2 Qtrs
Cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.21M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$167.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$301.00K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$379.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$283.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$116.00K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$78.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$379.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$283.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$116.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$78.00K	USD	Point-in-time
Interest	`InterestPaidNet`	$764.00K	USD	2 Qtrs
Interest	`InterestPaidNet`	$1.26M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$397.00K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$3.13M	USD	2 Qtrs
Interest on redeemable preferred stock	`DividendsPreferredStockAsInterestExpense`	$2.12M	USD	2 Qtrs
Interest on redeemable preferred stock	`DividendsPreferredStockAsInterestExpense`	$2.09M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.