RADS » Topics » Property and Equipment

This excerpt taken from the RADS 10-K filed Mar 6, 2009.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is recorded using the straight-line method over estimated useful lives of one to ten years. Leasehold improvements are amortized over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance and repairs are charged to expense as incurred, and the costs of additions and improvements are capitalized. Any gain or loss from the retirement or sale of an asset is credited or charged to operations.

Property and equipment at December 31, 2008 and 2007 are summarized as follows (in thousands):

 

     2008     2007  

Computers and equipment

   $ 20,978     $ 18,813  

Purchased software

     10,729       9,940  

ERP system (1)

     8,052       —    

Furniture and fixtures

     8,098       8,045  

Leasehold improvements

     7,920       7,490  

Building

     1,578       —    

Land

     235       2,517  
                
     57,590       46,805  

Less accumulated depreciation and amortization

     (34,559 )     (32,621 )
                
   $ 23,031     $ 14,184  
                
(1) The Company is implementing a new ERP system. The costs incurred are associated with the related costs to purchase the software as well as various consulting and implementation costs. The Company expects this new system to be implemented during the first quarter of 2010.

Depreciation expense for the years ended December 31, 2008, 2007 and 2006 was approximately $4.9 million, $4.4 million and $3.8 million, respectively. Depreciation expense includes amortization of assets under capital leases in the amount of approximately $0.6 million, $0.4 million and $0.1 million for the years ended December 31, 2008, 2007 and 2006, respectively.

Capitalized leased assets are amortized over the shorter of the term of the lease, using the straight-line method, or in accordance with practices established for similar owned assets. Amortization of capitalized leased assets is included with depreciation expense in the accompanying financial statements. Included in property and equipment are the following capitalized leases (in thousands):

 

     2008     2007  

Computers and equipment

   $ 3,194     $ 1,906  

Furniture and fixtures

     1,937       1,937  
                
     5,131       3,843  

Less accumulated depreciation and amortization

     (3,015 )     (2,394 )
                
   $ 2,116     $ 1,449  
                

 

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RADIANT SYSTEMS, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

These excerpts taken from the RADS 10-K filed Mar 5, 2008.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is provided using the straight-line method over estimated useful lives of one to ten years. Leasehold improvements are amortized over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance and repairs are charged to expense as incurred, and the costs of additions and improvements are capitalized. Any gain or loss from the retirement or sale of an asset is credited or charged to operations.

Property and equipment at December 31, 2007 and 2006 are summarized as follows (in thousands):

 

     2007     2006  

Computers and equipment

   $ 18,813     $ 16,500  

Leasehold improvements

     7,490       7,179  

Purchased software

     9,940       8,732  

Furniture and fixtures

     8,045       8,003  

Land

     2,517       2,517  
                
     46,805       42,931  

Less accumulated depreciation and amortization

     (32,621 )     (28,205 )
                
   $ 14,184     $ 14,726  
                

Depreciation expense for the years ended December 31, 2007, 2006 and 2005 was approximately $4.4 million, $3.8 million and $3.5 million, respectively. Depreciation expense includes amortization of assets under capital leases in the amount of approximately $0.4 million, $0.1 million and $0.4 million for the years ended December 31, 2007, 2006 and 2005, respectively.

Capitalized leased assets are amortized over the shorter of the term of the lease, using the straight-line method, or in accordance with practices established for similar owned assets. Amortization of capitalized leased assets is included with depreciation expense in the accompanying financial statements. Included in property and equipment are the following capitalized leases (in thousands):

 

     2007     2006  

Computers and equipment

   $ 1,906     $ 709  

Furniture and fixtures

     1,937       1,937  
                
     3,843       2,646  

Less accumulated depreciation and amortization

     (2,394 )     (2,041 )
                
   $ 1,449     $ 605  
                

 

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RADIANT SYSTEMS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Property and Equipment

SIZE="2">Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is provided using the straight-line method over estimated useful lives of one to ten years. Leasehold
improvements are amortized over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance and repairs are charged to expense as incurred, and the costs of additions and improvements are capitalized.
Any gain or loss from the retirement or sale of an asset is credited or charged to operations.

Property and equipment at December 31, 2007 and 2006
are summarized as follows (in thousands):

 




































































































































   2007  2006 

Computers and equipment

  $18,813  $16,500 

Leasehold improvements

   7,490   7,179 

Purchased software

   9,940   8,732 

Furniture and fixtures

   8,045   8,003 

Land

   2,517   2,517 
         
   46,805   42,931 

Less accumulated depreciation and amortization

   (32,621)  (28,205)
         
  $14,184  $14,726 
         

Depreciation expense for the years ended December 31, 2007, 2006 and 2005 was approximately $4.4 million,
$3.8 million and $3.5 million, respectively. Depreciation expense includes amortization of assets under capital leases in the amount of approximately $0.4 million, $0.1 million and $0.4 million for the years ended December 31, 2007, 2006 and
2005, respectively.

Capitalized leased assets are amortized over the shorter of the term of the lease, using the straight-line method, or in accordance
with practices established for similar owned assets. Amortization of capitalized leased assets is included with depreciation expense in the accompanying financial statements. Included in property and equipment are the following capitalized leases
(in thousands):

 






































































































   2007  2006 

Computers and equipment

  $1,906  $709 

Furniture and fixtures

   1,937   1,937 
         
   3,843   2,646 

Less accumulated depreciation and amortization

   (2,394)  (2,041)
         
  $1,449  $605 
         

 


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RADIANT SYSTEMS, INC.

ALIGN="center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


This excerpt taken from the RADS 10-K filed Feb 27, 2007.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is provided using the straight-line method over estimated useful lives of one to ten years. Leasehold improvements are amortized over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance and repairs are charged to expense as incurred, and the costs of additions and improvements are capitalized. Any gain or loss from the retirement or sale of an asset is credited or charged to operations.

Property and equipment at December 31, 2006 and 2005 are summarized as follows (in thousands):

 

     2006     2005  

Computers and equipment

   $ 16,500     $ 11,698  

Leasehold improvements

     7,179       4,393  

Purchased software

     8,732       7,883  

Furniture and fixtures

     8,003       7,466  

Land

     2,517       2,517  
                
     42,931       33,957  

Less accumulated depreciation and amortization

     (28,205 )     (24,350 )
                
   $ 14,726     $ 9,607  
                

Depreciation expense for the years ended December 31, 2006, 2005 and 2004 was approximately $3.8 million, $3.5 million and $3.8 million, respectively. Depreciation expense includes amortization of assets under capital leases in the amount of approximately $0.1 million, $0.4 million and $0.4 million for the years ended December 31, 2006, 2005 and 2004, respectively.

Capitalized leased assets are amortized over the shorter of the term of the lease, using the straight-line method, or in accordance with practices established for similar owned assets. Amortization of capitalized leased assets is included with depreciation expense in the accompanying financial statements. Included in property and equipment are the following capitalized leases (in thousands):

 

     2006     2005  

Computers and equipment

   $ 709     $ 97  

Furniture and fixtures

     1,937       1,937  
                
     2,646       2,034  

Less accumulated depreciation and amortization

     (2,041 )     (1,970 )
                
   $ 605     $ 64  
                

 

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RADIANT SYSTEMS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

This excerpt taken from the RADS 10-K filed Mar 2, 2006.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is provided using the straight-line method over estimated useful lives of one to five years. Leasehold improvements are amortized over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance and repairs are charged to expense as incurred, and the costs of additions and improvements are capitalized. Any gain or loss from the retirement or sale of an asset is credited or charged to operations.

Property and equipment at December 31, 2005 and 2004 are summarized as follows (in thousands):

 

     2005     2004  

Computers and equipment

   $ 11,698     $ 9,496  

Leasehold improvements

     4,393       4,285  

Purchased software

     7,883       7,707  

Furniture and fixtures

     7,466       6,817  

Land

     2,517       2,517  
                
     33,957       30,822  

Less accumulated depreciation and amortization

     (24,350 )     (22,232 )
                
   $ 9,607     $ 8,590  
                

Depreciation expense for the years ended December 31, 2005, 2004 and 2003 was approximately $3.5 million, $3.8 million and $3.3 million, respectively. Depreciation expense includes amortization of assets under capital leases in the amount of approximately $0.4 million, $0.4 million and $0.5 million for the years ended December 31, 2005, 2004 and 2003, respectively.

Capitalized leased assets are amortized over the shorter of the term of the lease, using the straight-line method, or in accordance with practices established for similar owned assets. Amortization of capitalized leased assets is included with depreciation expense in the accompanying financial statements. Included in property and equipment are the following capitalized leases (in thousands):

 

     2005     2004  

Computers and equipment

   $ 97     $ 164  

Furniture and fixtures

     1,937       1,937  
                
     2,034       2,101  

Less accumulated depreciation and amortization

     (1,970 )     (1,965 )
                
   $ 64     $ 136  
                

 

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RADIANT SYSTEMS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

This excerpt taken from the RADS 10-K filed Mar 15, 2005.

Property and Equipment

 

Property and equipment are recorded at cost, less accumulated depreciation and amortization. Depreciation of property and equipment is provided using the straight-line method over estimated useful lives of one to five years. Leasehold improvements are amortized over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance and repairs are charged to expense as incurred, and the costs of additions and improvements are capitalized. Any gain or loss from the retirement or sale of an asset is credited or charged to operations.

 

Property and equipment at December 31, 2004 and 2003 are summarized as follows (in thousands):

 

     2004

    2003

 

Computers and equipment

   $ 9,496     $ 24,726  

Leasehold improvements

     4,285       5,613  

Purchased software

     7,707       7,496  

Furniture and fixtures

     6,817       6,372  

Land

     2,517       2,517  
    


 


       30,822       46,724  

Less accumulated depreciation and amortization

     (22,232 )     (35,495 )
    


 


     $ 8,590     $ 11,229  
    


 


 

Depreciation expense for 2004, 2003 and 2002 was approximately $3.8 million, $3.3 million, and $3.9 million, respectively. Depreciation expense includes depreciation for assets under capital leases in the amount of approximately $400,000, $500,000 and $500,000 for the years ended December 31, 2004, 2003 and 2002, respectively.

 

Capitalized lease assets are amortized over the shorter of the term of the lease, using the straight-line method, or in accordance with practices established for similar owned assets. Amortization is included with depreciation expense in the accompanying financial statements. Included in property and equipment are the following capitalized leases:

 

     2004

    2003

 

Computers and equipment

   $ 164     $ 94  

Furniture and fixtures

     1,937       1,937  
    


 


       2,101       2,031  

Less accumulated depreciation and amortization

     (1,965 )     (1,531 )
    


 


     $ 136     $ 500  
    


 


 

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RADIANT SYSTEMS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

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