| Schedule of Cash and Cash Equivalents |
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The following table provides a reconciliation of cash, cash equivalents, and restricted cash included in prepaid expenses and other current assets and restricted cash included in other long-term assets reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows.
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September 30, |
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2021 |
|
2020 |
| Cash and cash equivalents |
$ |
38,242 |
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$ |
51,362 |
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| Restricted cash included in prepaid expenses and other current assets |
2,745 |
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|
2,190 |
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| Restricted cash included in other long-term assets |
349 |
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|
370 |
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| Total cash, cash equivalents, and restricted cash shown in the statements of cash flows |
$ |
41,336 |
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$ |
53,922 |
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| Schedule of Error Corrections and Prior Period Adjustments |
During the current quarter, we identified an error in our previously issued unaudited condensed consolidated financial statements as of and for the three months ended June 30, 2021, as well as our consolidated financial statements as of and for the three months ended March 31, 2021. The error was due to underreported warranty costs associated with the operational execution of a large project in our US-LAM segment that completed in a prior year for which we are supplying engineering services, installation services, and equipment. Management evaluated the materiality of the error from a qualitative and quantitative perspective and concluded that the error was not material to any one quarterly period. Accordingly, we corrected the error in the consolidated balance sheets at March 31, 2021 and consolidated statements of operations and comprehensive income for the three and twelve months ended March 31, 2021. We also corrected the error in the unaudited condensed consolidated balance sheets at June 30, 2021, and unaudited condensed consolidated statements of operations and comprehensive income for the three months ended June 30, 2021 is as follows:
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| Consolidated Balance Sheets |
March 31, 2021 |
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March 31, 2021 |
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as reported |
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Adjustments |
|
as corrected |
| Accrued liabilities |
$ |
23,517 |
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$ |
371 |
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$ |
23,888 |
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| Deferred income taxes |
21,088 |
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(82) |
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|
21,006 |
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| Retained earnings |
$ |
183,725 |
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(289) |
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|
183,436 |
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| Consolidated Statement of Operations and Comprehensive Income |
Three Months Ended March 31, 2021 |
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|
Three Months Ended March 31, 2021 |
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as reported |
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Adjustments |
|
as corrected |
| Sales |
$ |
73,323 |
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|
$ |
— |
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$ |
73,323 |
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| Cost of sales |
46,090 |
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|
371 |
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46,461 |
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| Gross profit |
27,233 |
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(371) |
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26,862 |
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| Net income/(loss) |
$ |
(763) |
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$ |
(288) |
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$ |
(1,051) |
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| Net income/(loss) per common share: |
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| Basic |
$ |
(0.02) |
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$ |
(0.01) |
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$ |
(0.03) |
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| Diluted |
(0.02) |
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|
(0.01) |
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|
(0.03) |
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| Consolidated Statement of Operations and Comprehensive Income |
Twelve Months Ended March 31, 2021 |
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|
Twelve Months Ended March 31, 2021 |
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as reported |
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Adjustments |
|
as corrected |
| Sales |
$ |
276,181 |
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|
$ |
— |
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$ |
276,181 |
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| Cost of sales |
158,938 |
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|
371 |
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|
159,309 |
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| Gross profit |
117,243 |
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(371) |
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|
116,872 |
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| Net income/(loss) |
$ |
1,165 |
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$ |
(288) |
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$ |
877 |
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| Net income/(loss) per common share: |
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| Basic |
$ |
0.04 |
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$ |
(0.01) |
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$ |
0.03 |
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| Diluted |
0.03 |
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|
0.00 |
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|
0.03 |
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| Consolidated Balance Sheets |
June 30, 2021 |
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June 30, 2021 |
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as reported |
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Adjustments |
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as corrected |
| Accrued liabilities |
$ |
20,046 |
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$ |
2,002 |
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$ |
22,048 |
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| Income taxes payable |
678 |
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(424) |
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|
254 |
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| Deferred income taxes |
21,880 |
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(82) |
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21,798 |
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| Retained earnings |
$ |
184,591 |
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(1,496) |
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183,095 |
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Three Months Ended June 30, 2021 |
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Three Months Ended June 30, 2021 |
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as reported |
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Adjustments |
|
as corrected |
| Sales |
$ |
71,155 |
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|
$ |
— |
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$ |
71,155 |
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| Cost of sales |
42,986 |
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|
1,631 |
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|
44,617 |
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| Gross profit |
28,169 |
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(1,631) |
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|
26,538 |
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| Net income/(loss) |
$ |
867 |
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$ |
(1,207) |
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$ |
(340) |
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| Net income/(loss) per common share: |
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| Basic |
$ |
0.03 |
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$ |
(0.04) |
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$ |
(0.01) |
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| Diluted |
$ |
0.03 |
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$ |
(0.04) |
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$ |
(0.01) |
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