Quarterly report pursuant to Section 13 or 15(d)

Restatement of Previously Issued Consolidated Financial Statements (Tables)

v3.6.0.2
Restatement of Previously Issued Consolidated Financial Statements (Tables)
9 Months Ended
Sep. 30, 2016
Accounting Changes and Error Corrections [Abstract]  
Schedule of Unaudited Quarterly Impact on Company's Financial Statements

The impact on the Company’s financial statements for the three and nine months ended September 30, 2015 is to increase the provision for contractual allowance (thereby reducing accounts receivable as shown on the balance sheet), as follows:

 

     Three Months Ended      Nine Months Ended  
(in thousands)    September 30,
2015
     September 30,
2015
 

Unaudited estimated impact

   $ 381       $ 788   
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 the three and nine months ended September 30, 2015.

 

     Three months ended  
     September 30, 2015  

Statement of Operations:

   As
Previously
Reported
     Adjustment      As
Restated
 

Net revenues:

        

Rentals

   $ 16,849       $ (381    $ 16,468   

Net revenues

     18,692         (381      18,311   

Gross profit

     13,258         (381      12,877   

Operating income

     2,711         (381      2,330   

Income (loss) before income taxes

     2,326         (381      1,945   

Income tax (expense) benefit

     (957      150         (807
  

 

 

    

 

 

    

 

 

 

Net income (loss)

     1,369         (231      1,138   

Net income (loss) per share:

        

Basic

   $ 0.06       $ (0.01    $ 0.05   

Diluted

   $ 0.06       $ (0.01    $ 0.05   
     Nine months ended  
     September 30, 2015  

Statement of Operations:

   As
Previously
Reported
     Adjustment      As
Restated
 

Net revenues:

        

Rentals

   $ 47,604       $ (788    $ 46,816   

Net revenues

     52,587         (788      51,799   

Gross profit

     37,201         (788      36,413   

Operating income

     5,580         (788      4,792   

Income (loss) before income taxes

     2,556         (788      1,768   

Income tax (expense) benefit

     (819      311         (508
  

 

 

    

 

 

    

 

 

 

Net income (loss)

     1,737         (477      1,260   

Net income (loss) per share:

        

Basic

   $ 0.08       $ (0.02    $ 0.06   

Diluted

   $ 0.08       $ (0.02    $ 0.06   

 

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 at September 30, 2015.

 

     September 30, 2015  

Balance Sheet:

   As
Previously
Reported
     Adjustment      As
Restated
 

Accounts receivable, net

   $ 13,584       $ (788    $ 12,796   

Total current assets

     19,556         (788      18,768   

Deferred income taxes

     12,944         311         13,255   

Total assets

     93,777         (477      93,300   

Retained deficit

     (41,968      (477      (42,445

Total stockholders’ equity

     48,998         (477      48,521   

Total liabilities and stockholders’ equity

   $ 93,777       $ (477    $ 93,300