$AAME
ATLANTIC AMERICAN CORP

2021 Q2 Form 10-Q Financial Statement

#000114036121027732 Filed on August 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $51.46M $49.74M
YoY Change 3.46% 15.33%
Cost Of Revenue $31.70M $27.08M
YoY Change 17.09% -20.72%
Gross Profit $19.75M $22.66M
YoY Change -12.83% 152.46%
Gross Profit Margin 38.39% 45.56%
Selling, General & Admin $12.18M $10.85M
YoY Change 12.25% -5.73%
% of Gross Profit 61.65% 47.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization -$111.0K $250.0K
YoY Change -144.4% 66.67%
% of Gross Profit -0.56% 1.1%
Operating Expenses $47.36M $41.04M
YoY Change 15.39% -14.8%
Operating Profit -$27.60M -$18.38M
YoY Change 50.18% -53.11%
Interest Expense $347.0K $414.0K
YoY Change -16.18% -24.04%
% of Operating Profit
Other Income/Expense, Net $3.474M $3.112M
YoY Change 11.63% 23.93%
Pretax Income $3.754M $8.281M
YoY Change -54.67% -248.17%
Income Tax $792.0K $1.749M
% Of Pretax Income 21.1% 21.12%
Net Earnings $2.962M $6.532M
YoY Change -54.65% -247.58%
Net Earnings / Revenue 5.76% 13.13%
Basic Earnings Per Share $0.14 $0.31
Diluted Earnings Per Share $0.14 $0.30
COMMON SHARES
Basic Shares Outstanding 20.41M 20.44M
Diluted Shares Outstanding 21.79M 21.82M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $9.532M $16.35M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $5.200M
YoY Change -10.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $286.0M $1.238M
YoY Change 23000.65% 0.0%
Other Assets $347.0K $1.100M
YoY Change -68.45% -26.67%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $404.5M $385.7M
YoY Change 4.86% 3.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $5.400M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.50M $23.40M
YoY Change -3.85% 3.08%
LONG-TERM LIABILITIES
Long-Term Debt $33.74M $33.70M
YoY Change 0.11% 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $33.74M $33.70M
YoY Change 0.11% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.50M $23.40M
Total Long-Term Liabilities $33.74M $33.70M
Total Liabilities $262.1M $261.8M
YoY Change 0.1% 1.11%
SHAREHOLDERS EQUITY
Retained Earnings $34.27M
YoY Change -5.71%
Common Stock $22.40M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.261M
YoY Change -9.79%
Treasury Stock Shares $1.947M
Shareholders Equity $142.4M $123.9M
YoY Change
Total Liabilities & Shareholders Equity $404.5M $385.7M
YoY Change 4.86% 3.77%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $2.962M $6.532M
YoY Change -54.65% -247.58%
Depreciation, Depletion And Amortization -$111.0K $250.0K
YoY Change -144.4% 66.67%
Cash From Operating Activities -$7.846M $11.07M
YoY Change -170.88% -4200.0%
INVESTING ACTIVITIES
Capital Expenditures -$25.00K -$120.0K
YoY Change -79.17%
Acquisitions
YoY Change
Other Investing Activities -$2.618M -$2.920M
YoY Change -10.34% -181.79%
Cash From Investing Activities -$2.643M -$3.040M
YoY Change -13.06% -185.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -428.0K -10.00K
YoY Change 4180.0% -97.78%
NET CHANGE
Cash From Operating Activities -7.846M 11.07M
Cash From Investing Activities -2.643M -3.040M
Cash From Financing Activities -428.0K -10.00K
Net Change In Cash -10.92M 8.020M
YoY Change -236.12% 182.39%
FREE CASH FLOW
Cash From Operating Activities -$7.846M $11.07M
Capital Expenditures -$25.00K -$120.0K
Free Cash Flow -$7.821M $11.19M
YoY Change -169.89% -4244.44%

Facts In Submission

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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2332000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20415000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20415000
us-gaap Net Income Loss
NetIncomeLoss
-1555000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20455000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20455000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
199000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1754000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1754000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20455000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20455000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
788000
CY2020Q2 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1739000
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
673000
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-409000
CY2021Q2 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
5000
CY2020Q2 us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
3000
us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
14000
us-gaap Income Tax Reconciliation Deductions Dividends
IncomeTaxReconciliationDeductionsDividends
6000
CY2021Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
10000
CY2020Q2 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
6000
us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
14000
us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
13000
CY2021Q2 aame Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement And Club Dues Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedPaymentArrangementAndClubDuesAmount
-5000
CY2020Q2 aame Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement And Club Dues Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedPaymentArrangementAndClubDuesAmount
3000
aame Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement And Club Dues Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedPaymentArrangementAndClubDuesAmount
-5000
aame Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Payment Arrangement And Club Dues Amount
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedPaymentArrangementAndClubDuesAmount
3000
CY2021Q2 aame Income Tax Reconciliation Nondeductible Expense Parking Disallowance
IncomeTaxReconciliationNondeductibleExpenseParkingDisallowance
4000
CY2020Q2 aame Income Tax Reconciliation Nondeductible Expense Parking Disallowance
IncomeTaxReconciliationNondeductibleExpenseParkingDisallowance
4000
aame Income Tax Reconciliation Nondeductible Expense Parking Disallowance
IncomeTaxReconciliationNondeductibleExpenseParkingDisallowance
8000
aame Income Tax Reconciliation Nondeductible Expense Parking Disallowance
IncomeTaxReconciliationNondeductibleExpenseParkingDisallowance
8000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
792000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1749000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
676000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-391000
CY2021Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
693000
CY2020Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2173000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1069000
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2302000
CY2021Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
99000
CY2020Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-424000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-393000
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-2693000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
792000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1749000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
676000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-391000
us-gaap Operating Lease Expense
OperatingLeaseExpense
507000
us-gaap Operating Lease Payments
OperatingLeasePayments
504000
us-gaap Operating Lease Payments
OperatingLeasePayments
475000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4493000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5159000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.068
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.068
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
511000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1031000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1048000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1065000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1083000
CY2021Q2 aame Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
942000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5680000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
948000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4732000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2021Q2 us-gaap Assets
Assets
404486000
CY2020Q4 us-gaap Assets
Assets
405187000
CY2021Q2 us-gaap Revenues
Revenues
51457000
CY2020Q2 us-gaap Revenues
Revenues
49737000
us-gaap Revenues
Revenues
100532000
us-gaap Revenues
Revenues
89147000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3754000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8281000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3207000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1946000

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