| Schedule of Unaudited Quarterly Impact on Company's Financial Statements |
The impact on the Company’s financial statements for the
fiscal quarters ended March 31, 2016 and 2015 is to increase the
provision for contractual allowance (thereby reducing accounts
receivable as shown on the balance sheet) as follows:
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Three Months Ended |
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March 31,
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March 31,
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| (in thousands) |
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2016 |
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2015 |
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Unaudited quarterly impact
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$ |
750 |
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$ |
173 |
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The impact of these amounts are included in the following items on
the Company’s consolidated financial statements for the
fiscal quarters ended March 31, 2016 and 2015, respectively:
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Consolidated Balance Sheet:
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Consolidated Statement of Operations:
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Accounts receivable, net |
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Rental revenues |
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Total Current Assets |
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Net revenues |
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Deferred income taxes |
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Gross profit |
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Total Assets |
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Operating income |
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Retained deficit |
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Income before income taxes |
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Total Stockholders’
Equity |
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Income tax (expense)
benefit |
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Total Liabilities and
Stockholders’ Equity |
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Net income |
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Net income per basic and diluted
share |
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| Schedule of Effect of Correction and Other Adjustments on Previously Reported Consolidated Statements |
The following tables present the effect of the correction discussed
above and other adjustments on selected line items of our
previously reported consolidated statement of operations for the
fiscal quarters ended March 31, 2016 and 2015, respectively.
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March 31, 2016 |
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March 31, 2015 |
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As
Previously
Reported |
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Adjustment |
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As
Restated |
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As
Previously
Reported |
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Adjustment |
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As
Restated |
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Statement of Operations:
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Net revenues:
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Rentals
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$ |
17,238 |
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$ |
(750 |
) |
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$ |
16,488 |
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$ |
15,139 |
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$ |
(173 |
) |
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$ |
14,966 |
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Net revenues
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19,044 |
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(750 |
) |
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18,294 |
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16,725 |
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(173 |
) |
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16,552 |
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Gross profit
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13,307 |
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(750 |
) |
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12,557 |
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12,089 |
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(173 |
) |
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11,916 |
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Operating income
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1,164 |
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(750 |
) |
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414 |
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1,552 |
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(173 |
) |
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1,379 |
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Income (loss) before income taxes
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|
879 |
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(750 |
) |
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129 |
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(700 |
) |
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(173 |
) |
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(873 |
) |
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Income tax (expense) benefit
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(384 |
) |
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296 |
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(88 |
) |
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|
285 |
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|
69 |
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|
354 |
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Net income (loss)
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495 |
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(454 |
) |
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41 |
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(415 |
) |
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(104 |
) |
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(519 |
) |
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Net income (loss) per share:
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Basic
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$ |
0.02 |
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$ |
(0.02 |
) |
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$ |
— |
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$ |
(0.02 |
) |
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$ |
— |
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$ |
(0.02 |
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Diluted
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$ |
0.02 |
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$ |
(0.02 |
) |
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$ |
— |
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$ |
(0.02 |
) |
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$ |
— |
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$ |
(0.02 |
) |
The following tables present the effect of the correction discussed
above and other adjustments on selected line items of our
previously reported consolidated balance sheet as of March 31, 2016
and 2015, respectively.
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March 31, 2016 |
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March 31, 2015 |
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As
Previously
Reported |
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Adjustment |
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As
Restated |
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As
Previously
Reported |
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|
Adjustment |
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As
Restated |
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Balance Sheet:
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Accounts receivable, net
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$ |
15,359 |
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$ |
(2,334 |
) |
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$ |
13,025 |
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$ |
11,498 |
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$ |
(173 |
) |
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$ |
11,325 |
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Total Current Assets
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22,380 |
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(2,334 |
) |
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20,046 |
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20,082 |
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(173 |
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19,909 |
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Deferred income taxes
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11,158 |
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|
922 |
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|
12,080 |
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|
14,143 |
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|
69 |
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|
14,212 |
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Total Assets
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100,164 |
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(1,412 |
) |
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98,752 |
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|
87,466 |
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(104 |
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87,362 |
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Retained deficit
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(39,467 |
) |
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(1,412 |
) |
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(40,879 |
) |
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(44,119 |
) |
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|
(104 |
) |
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(44,223 |
) |
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Total Stockholders’ Equity
|
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52,078 |
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(1,412 |
) |
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|
50,666 |
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|
46,325 |
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(104 |
) |
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46,221 |
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Total Liabilities and Stockholders’ Equity
|
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$ |
100,164 |
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$ |
(1,412 |
) |
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$ |
98,752 |
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$ |
87,466 |
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$ |
(104 |
) |
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$ |
87,362 |
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