| Quarterly Results of Operations |
The following table sets forth certain unaudited quarterly results
of operations for fiscal 2016 and fiscal 2015. In the opinion of
management, this information has been prepared on the same basis as
the audited consolidated financial statements and all necessary
adjustments, consisting only of normal recurring adjustments, have
been included in the amounts stated below to present fairly the
quarterly information when read in conjunction with the audited
consolidated financial statements and notes thereto included
elsewhere in this Form 10-K. The quarterly operating results are
not necessarily indicative of future results of operations.
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Fiscal Year Ended January 31,
2016 |
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Q1
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Q2
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Q3
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Q4
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(Amounts in
thousands, except per share data) |
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Revenue
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$ |
23,177 |
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$ |
27,871 |
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$ |
28,747 |
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$ |
27,197 |
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Gross profit
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10,116 |
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14,427 |
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6,877 |
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15,419 |
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Operating expenses
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19,582 |
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19,177 |
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18,718 |
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37,561 |
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Net loss (1)
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(9,825 |
) |
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(5,027 |
) |
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(10,565 |
) |
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(22,280 |
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Loss per share (2):
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Basic
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$ |
(0.29 |
) |
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$ |
(0.16 |
) |
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$ |
(0.31 |
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$ |
(0.66 |
) |
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Diluted
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$ |
(0.29 |
) |
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$ |
(0.16 |
) |
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$ |
(0.31 |
) |
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$ |
(0.66 |
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Fiscal Year Ended January 31,
2015 |
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Q1 |
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Q2 |
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Q3 |
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Q4 |
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(Amounts in
thousands, except per share data) |
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Revenue
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$ |
24,337 |
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$ |
29,849 |
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$ |
29,970 |
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$ |
31,279 |
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Gross profit
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10,891 |
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15,387 |
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14,793 |
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16,036 |
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Operating expenses
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21,026 |
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20,574 |
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20,660 |
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21,300 |
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Net loss from continuing operations
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(9,467 |
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(5,687 |
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(6,195 |
) |
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(6,140 |
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Net income (loss) from discontinued operations (3)
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— |
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119 |
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(114 |
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— |
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Net loss
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(9,467 |
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(5,568 |
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(6,309 |
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(6,140 |
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Net loss per share from continuing operations (2):
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Basic
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$ |
(0.29 |
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$ |
(0.17 |
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$ |
(0.19 |
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$ |
(0.19 |
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Diluted
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$ |
(0.29 |
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$ |
(0.17 |
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$ |
(0.19 |
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$ |
(0.19 |
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Income (loss) per share from discontinued operations (2):
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Basic
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$ |
— |
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$ |
0.00 |
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$ |
(0.00 |
) |
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$ |
— |
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Diluted
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$ |
— |
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$ |
0.00 |
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$ |
(0.00 |
) |
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$ |
— |
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Loss per share (2):
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Basic
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$ |
(0.29 |
) |
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$ |
(0.17 |
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$ |
(0.19 |
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$ |
(0.19 |
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Diluted
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$ |
(0.29 |
) |
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$ |
(0.17 |
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$ |
(0.19 |
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$ |
(0.19 |
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| (1) |
Net loss in the fourth quarter of
fiscal 2016 includes a $21.5 million loss on impairment of TLL, LLC
net assets as a result of our decision to enter into a
restructuring plan relating to the Timeline Labs operations that
may include a winding down of operations. |
| (2) |
The sum of per share data may not
agree to annual amounts due to rounding. |
| (3) |
In May 2012, we completed the sale of
our broadcast servers and storage business and our media services
business. As a result, both businesses have been reported as
discontinued operations in our consolidated financial
statements. |
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