10-Q Filing

INNODATA INC CIK: 903651 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-025961`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	inod-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 42 Cash Flow Statement 50 Stockholders Equity 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Serial preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Serial preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Serial preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Serial preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.39M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.20M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.95M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.52M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.30M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	27.56M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.12M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.88M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.62M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.25M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.68M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.90M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.68M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.74M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.64M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsCurrent`	$8.19M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsCurrent`	$7.99M	USD	Point-in-time
Goodwill	`Goodwill`	$1.53M	USD	Point-in-time
Goodwill	`Goodwill`	$1.48M	USD	Point-in-time
Goodwill	`Goodwill`	$2.73M	USD	Point-in-time
Goodwill	`Goodwill`	$2.75M	USD	Point-in-time
Total assets	`Assets`	$47.59M	USD	Point-in-time
Total assets	`Assets`	$48.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.02M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.02M	USD	Point-in-time
Accrued salaries, wages and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$5.04M	USD	Point-in-time
Accrued salaries, wages and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.95M	USD	Point-in-time
Income and other taxes	`TaxesPayableCurrent`	$1.33M	USD	Point-in-time
Income and other taxes	`TaxesPayableCurrent`	$1.24M	USD	Point-in-time
Current portion of long-term obligations	`LongTermDebtCurrent`	$1.12M	USD	Point-in-time
Current portion of long-term obligations	`LongTermDebtCurrent`	$1.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.42M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$680.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$682.00K	USD	Point-in-time
Long-term obligations, net of current portion	`LongTermDebtNoncurrent`	$3.92M	USD	Point-in-time
Long-term obligations, net of current portion	`LongTermDebtNoncurrent`	$4.07M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Non-controlling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$-3.63M	USD	Point-in-time
Non-controlling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$-3.73M	USD	Point-in-time
Serial preferred stock; 5,000,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Serial preferred stock; 5,000,000 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 27,559,000 shares issued and 25,878,000 outstanding at March 31, 2017 and 27,305,000 shares issued and 25,624,000 outstanding at December 31, 2016	`CommonStockValue`	$273.00K	USD	Point-in-time
Common stock, $.01 par value; 75,000,000 shares authorized; 27,559,000 shares issued and 25,878,000 outstanding at March 31, 2017 and 27,305,000 shares issued and 25,624,000 outstanding at December 31, 2016	`CommonStockValue`	$275.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.67M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-51.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$629.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-324.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-84.00K	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$37.76M	USD	Point-in-time
Stockholders' Equity before Treasury Stock, Total	`StockholdersEquityBeforeTreasuryStock`	$38.41M	USD	Point-in-time
Less: treasury stock, 1,681,000 shares at March 31, 2017 and December 31, 2016, at cost	`TreasuryStockValue`	$4.62M	USD	Point-in-time
Less: treasury stock, 1,681,000 shares at March 31, 2017 and December 31, 2016, at cost	`TreasuryStockValue`	$4.62M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$33.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.95M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.21M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$33.78M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$48.59M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$47.59M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$14.95M	USD	1 Quarter
Revenues	`Revenues`	$15.70M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$11.72M	USD	1 Quarter
Direct operating costs	`DirectOperatingCosts`	$11.46M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.81M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.62M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNonoperatingNet`	$12.00K	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNonoperatingNet`	$-13.00K	USD	1 Quarter
Totals	`CostsAndExpenses`	$15.29M	USD	1 Quarter
Totals	`CostsAndExpenses`	$16.34M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$409.00K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.38M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$518.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$445.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.83M	USD	1 Quarter
Net loss	`ProfitLoss`	$-109.00K	USD	1 Quarter
Loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-98.00K	USD	1 Quarter
Loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-112.00K	USD	1 Quarter
Net income (loss) attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$3.00K	USD	1 Quarter
Net income (loss) attributable to Innodata Inc. and Subsidiaries	`NetIncomeLoss`	$-1.73M	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.63M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.45M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.63M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	25.57M	shares	1 Quarter
Net loss	`ProfitLoss`	$-1.83M	USD	1 Quarter
Net loss	`ProfitLoss`	$-109.00K	USD	1 Quarter
Pension liability adjustment, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$62.00K	USD	1 Quarter
Pension liability adjustment, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$82.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$311.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$439.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$356.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$24.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$273.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$713.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$604.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.55M	USD	1 Quarter
Comprehensive loss attributed to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-112.00K	USD	1 Quarter
Comprehensive loss attributed to non-controlling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-98.00K	USD	1 Quarter
Comprehensive income (loss) attributable to Innodata Inc. and Subsidiaries	`ComprehensiveIncomeNetOfTax`	$716.00K	USD	1 Quarter
Comprehensive income (loss) attributable to Innodata Inc. and Subsidiaries	`ComprehensiveIncomeNetOfTax`	$-1.46M	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.83M	USD	1 Quarter
Net loss	`ProfitLoss`	$-109.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$943.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$652.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$279.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$288.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-167.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-102.00K	USD	1 Quarter
Pension cost	`DefinedContributionPlanCostRecognized`	$64.00K	USD	1 Quarter
Pension cost	`DefinedContributionPlanCostRecognized`	$82.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-502.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.17M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-248.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-252.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$15.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$94.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.18M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.27M	USD	1 Quarter
Accrued salaries, wages and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-94.00K	USD	1 Quarter
Accrued salaries, wages and related benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-170.00K	USD	1 Quarter
Income and other taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$-72.00K	USD	1 Quarter
Income and other taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$-102.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$729.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.11M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.05M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$153.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.05M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-153.00K	USD	1 Quarter
Payment of long-term obligations	`RepaymentsOfLongTermDebt`	$190.00K	USD	1 Quarter
Payment of long-term obligations	`RepaymentsOfLongTermDebt`	$31.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-190.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-31.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-8.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$92.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$478.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.91M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.39M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.91M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.39M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.20M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$302.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$106.00K	USD	1 Quarter
Vendor financed software licenses acquired	`LicensesRevenue`	-	USD	1 Quarter
Vendor financed software licenses acquired	`LicensesRevenue`	$1.21M	USD	1 Quarter
Common stock issued for MediaMiser acquistion	`CommonStockIssuedForMediamiserAcquistion`	-	USD	1 Quarter
Common stock issued for MediaMiser acquistion	`CommonStockIssuedForMediamiserAcquistion`	$525.00K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$33.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.78M	USD	Point-in-time
Net income attributable to Innodata Inc. and subsidiaries	`NetIncomeLoss`	$3.00K	USD	1 Quarter
Net income attributable to Innodata Inc. and subsidiaries	`NetIncomeLoss`	$-1.73M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$288.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$279.00K	USD	1 Quarter
Acquisition of non-controlling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$260.00K	USD	1 Quarter
Issuance of common stock in connection with MediaMiser acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$525.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$62.00K	USD	1 Quarter
Pension liability adjustments, net of taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$82.00K	USD	1 Quarter
Foreign currency translation adjustment, net of taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$356.00K	USD	1 Quarter
Foreign currency translation adjustment, net of taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$24.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$311.00K	USD	1 Quarter
Change in fair value of derivatives, net of taxes	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$439.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$33.14M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$38.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$33.78M	USD	Point-in-time

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