Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. EROOMSYSTEM TECHNOLOGIES INC (1110361) 10-Q published on Nov 14, 2016 at 9:56 am
Our cost of product sales and maintenance revenue for the three months ended September 30, 2016 was $137,022, compared to $137,596 for the three months ended September 30, 2015, a decrease of $574, or 0.42%. The gross margin percentage on revenue from product sales revenue was 36% in 2016 and 40% in 2015.
We realized a net loss of $37,970 for the three months ended September 30, 2016, compared to net income of $7,524 for the three months ended September 30, 2015. The $45,494 change related primarily to decreased revenue and investment income as well as increased selling, general and administrative expenses during the three months ended September 30, 2016.
Our investment income was $52,477 for the nine months ended September 30, 2016, compared to $104,407 for the nine months ended September 30, 2015, representing a decrease of $51,930, or 50%. The change in investment income related to sales of available-for-sale securities in the nine months ended September 30, 2015 and the repayment of notes receivable during 2016.
We realized a net loss of $34,226 for the nine months ended September 30, 2016, compared to net income of $50,553 for the nine months ended September 30, 2015. The $84,779 change related primarily to the decrease in revenue and investment income and the increase in selling, general and administrative costs during the nine months ended September 30, 2016.
Net cash used in operations for the nine months ended September 30, 2016 was $85,829 as compared to $59,358 used in the period ended September 30, 2015.