2013 Q2 Form 10-Q Financial Statement

#000088098413000011 Filed on August 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $5.233M $5.727M
YoY Change -8.63% 39.44%
Cost Of Revenue $3.961M $4.241M
YoY Change -6.6% 53.66%
Gross Profit $1.272M $1.486M
YoY Change -14.4% 10.32%
Gross Profit Margin 24.31% 25.95%
Selling, General & Admin $4.970M $4.390M
YoY Change 13.21% 61.16%
% of Gross Profit 390.72% 295.42%
Research & Development $2.116M $1.699M
YoY Change 24.54% 342.45%
% of Gross Profit 166.35% 114.33%
Depreciation & Amortization $390.0K $370.0K
YoY Change 5.41% -72.18%
% of Gross Profit 30.66% 24.9%
Operating Expenses $8.796M $6.089M
YoY Change 44.46% 95.91%
Operating Profit -$7.524M -$4.603M
YoY Change 63.46% 161.39%
Interest Expense $80.00K $130.0K
YoY Change -38.46% -230.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$7.449M -$4.473M
YoY Change 66.53% 140.35%
Income Tax $16.00K -$1.064M
% Of Pretax Income
Net Earnings -$7.174M -$3.204M
YoY Change 123.91% 54.11%
Net Earnings / Revenue -137.09% -55.95%
Basic Earnings Per Share -$0.40 -$0.18
Diluted Earnings Per Share -$396.4K -$178.7K
COMMON SHARES
Basic Shares Outstanding 18.09M shares 17.91M shares
Diluted Shares Outstanding 17.91M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.30M $32.80M
YoY Change -59.45% 583.33%
Cash & Equivalents $13.35M $14.75M
Short-Term Investments $18.00M
Other Short-Term Assets $3.343M $2.765M
YoY Change 20.9% -16.21%
Inventory $6.145M $2.652M
Prepaid Expenses
Receivables $3.270M $4.476M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.32M $54.51M
YoY Change -38.87% 108.84%
LONG-TERM ASSETS
Property, Plant & Equipment $2.049M $842.0K
YoY Change 143.35% -92.06%
Goodwill $6.407M $6.562M
YoY Change -2.36%
Intangibles $7.846M $10.06M
YoY Change -21.98%
Long-Term Investments
YoY Change
Other Assets $1.012M $99.00K
YoY Change 922.22% -97.32%
Total Long-Term Assets $20.68M $20.97M
YoY Change -1.38% -34.89%
TOTAL ASSETS
Total Short-Term Assets $33.32M $54.51M
Total Long-Term Assets $20.68M $20.97M
Total Assets $54.00M $75.47M
YoY Change -28.46% 29.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.154M $2.164M
YoY Change -0.46% -62.04%
Accrued Expenses $2.100M $2.100M
YoY Change 0.0% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $300.0K $100.0K
YoY Change 200.0% -94.74%
Total Short-Term Liabilities $9.563M $9.188M
YoY Change 4.08% -40.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $75.00K
YoY Change -100.0% -75.0%
Other Long-Term Liabilities $691.0K $210.0K
YoY Change 229.05% -95.53%
Total Long-Term Liabilities $5.450M $4.234M
YoY Change 28.72% -15.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.563M $9.188M
Total Long-Term Liabilities $5.450M $4.234M
Total Liabilities $15.01M $13.42M
YoY Change 11.85% -51.72%
SHAREHOLDERS EQUITY
Retained Earnings -$41.88M -$20.31M
YoY Change 106.19%
Common Stock $83.68M $84.43M
YoY Change -0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.036M $3.036M
YoY Change 0.0%
Treasury Stock Shares 801.9K shares 801.9K shares
Shareholders Equity $39.13M $61.62M
YoY Change
Total Liabilities & Shareholders Equity $54.00M $75.47M
YoY Change -28.46% 29.46%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$7.174M -$3.204M
YoY Change 123.91% 54.11%
Depreciation, Depletion And Amortization $390.0K $370.0K
YoY Change 5.41% -72.18%
Cash From Operating Activities -$6.260M -$5.200M
YoY Change 20.38% 156.16%
INVESTING ACTIVITIES
Capital Expenditures -$560.0K -$290.0K
YoY Change 93.1% -12.12%
Acquisitions
YoY Change
Other Investing Activities $110.0K -$80.00K
YoY Change -237.5% 166.67%
Cash From Investing Activities -$440.0K -$380.0K
YoY Change 15.79% 5.56%
FINANCING ACTIVITIES
Cash Dividend Paid $627.0K
YoY Change -0.16%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K -960.0K
YoY Change -97.92% -247.69%
NET CHANGE
Cash From Operating Activities -6.260M -5.200M
Cash From Investing Activities -440.0K -380.0K
Cash From Financing Activities -20.00K -960.0K
Net Change In Cash -6.720M -6.540M
YoY Change 2.75% 275.86%
FREE CASH FLOW
Cash From Operating Activities -$6.260M -$5.200M
Capital Expenditures -$560.0K -$290.0K
Free Cash Flow -$5.700M -$4.910M
YoY Change 16.09% 188.82%

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us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
39000 USD
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us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
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P3Y7M26D
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SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
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P4Y4M24D
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0 shares
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
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SupplementalUnemploymentBenefitsSeveranceBenefits
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44000 USD
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17796000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18084000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
17912000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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acfn Adjustment Of Additional Paid In Capital And Noncontrolling Interests From Investment In Noncontrolling Interests
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975000 USD
acfn Amounts Funded For Severance Assets
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169000 USD
acfn Amounts Funded For Severance Assets
AmountsFundedForSeveranceAssets
100000 USD
acfn Average Exercise Price Warrants Expired Or Forfeited
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3.68
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CashAndCashEquivalentsAtBeginningOfYearOfContinuingOperations
34280000 USD
acfn Dividend Reinvestment Plan Discount
DividendReinvestmentPlanDiscount
6000 USD
acfn Exercise Of Options And Warrants
ExerciseOfOptionsAndWarrants
0 USD
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ExerciseOfOptionsAndWarrants
1303000 USD
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FinanceIncomeExpenseNet
89000 USD
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FinanceIncomeExpenseNet
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CY2012Q2 acfn Finance Income Expense Net
FinanceIncomeExpenseNet
130000 USD
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FinanceIncomeExpenseNet
75000 USD
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FullyDilutedOwnership
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acfn Increase In Accounts Receivable Unbilled Work In Process Other Current And Other Assets
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1047000 USD
acfn Increase In Accounts Receivable Unbilled Work In Process Other Current And Other Assets
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acfn Increase In Liability For Employee Termination Benefits
IncreaseInLiabilityForEmployeeTerminationBenefits
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acfn Increase In Liability For Employee Termination Benefits
IncreaseInLiabilityForEmployeeTerminationBenefits
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CY2012Q2 acfn Net Income Attributable To Nci In Dsit
NetIncomeAttributableToNciInDsit
57000 USD
acfn Net Income Attributable To Nci In Dsit
NetIncomeAttributableToNciInDsit
22000 USD
CY2013Q2 acfn Net Income Attributable To Nci In Dsit
NetIncomeAttributableToNciInDsit
1000 USD
acfn Net Income Attributable To Nci In Dsit
NetIncomeAttributableToNciInDsit
65000 USD
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NetIncomeLossBeforeIncomeTaxesForReportableSegments
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NetIncomeLossBeforeIncomeTaxesForReportableSegments
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NetIncomeLossBeforeIncomeTaxesForReportableSegments
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acfn Restructuringcostsabandonmentoffixedassets
Restructuringcostsabandonmentoffixedassets
39000 USD
acfn Restructuringcostsabandonmentoffixedassets
Restructuringcostsabandonmentoffixedassets
0 USD
acfn Restructuringcostsinventorycharge
Restructuringcostsinventorycharge
152000 USD
CY2013Q2 acfn Segment Depreciation And Amortization
SegmentDepreciationAndAmortization
359000 USD
acfn Segment Depreciation And Amortization
SegmentDepreciationAndAmortization
732000 USD
CY2012Q2 acfn Segment Depreciation And Amortization
SegmentDepreciationAndAmortization
364000 USD
acfn Segment Depreciation And Amortization
SegmentDepreciationAndAmortization
656000 USD
CY2013Q2 acfn Segment Gross Profit Loss
SegmentGrossProfitLoss
1272000 USD
acfn Segment Gross Profit Loss
SegmentGrossProfitLoss
2686000 USD
CY2012Q2 acfn Segment Gross Profit Loss
SegmentGrossProfitLoss
1486000 USD
acfn Segment Gross Profit Loss
SegmentGrossProfitLoss
3397000 USD
CY2012Q2 acfn Net Loss Attributable To Nci In Ussi
NetLossAttributableToNciInUssi
-262000 USD
CY2013Q2 acfn Net Loss Attributable To Nci In Ussi
NetLossAttributableToNciInUssi
-292000 USD
acfn Net Loss Attributable To Nci In Ussi
NetLossAttributableToNciInUssi
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acfn Net Loss Attributable To Nci In Ussi
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-525000 USD
CY2012Q2 acfn Other Operating Segment Net Income Loss Before Income Taxes
OtherOperatingSegmentNetIncomeLossBeforeIncomeTaxes
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acfn Other Operating Segment Net Income Loss Before Income Taxes
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CY2013Q2 acfn Other Operating Segment Net Income Loss Before Income Taxes
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acfn Other Operating Segment Net Income Loss Before Income Taxes
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11000 USD
acfn Preferred Stock Purchase Ussi
PreferredStockPurchaseUssi
2500000 USD
acfn Preferred Stock Purchase Ussi May2013
PreferredStockPurchaseUssiMay2013
2500000 USD
CY2013Q2 acfn Remaining Contractual Term Warrants
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P2Y5M15D
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acfn Segment Net Income Loss Before Income Taxes
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acfn Segment Share Based Compensation Expense
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0 USD
acfn Segment Share Based Compensation Expense
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CY2012Q2 acfn Segment Share Based Compensation Expense
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34000 USD
CY2013Q2 acfn Severance Assets
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SeveranceAssets
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CY2012Q2 acfn Share Based Compensation Expense In Research And Development Expense
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0 USD
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ShareBasedCompensationExpenseInResearchAndDevelopmentExpense
11000 USD
acfn Share Based Compensation Expense In Research And Development Expense
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0 USD
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ShareBasedCompensationExpenseInResearchAndDevelopmentExpense
21000 USD
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ShareBasedCompensationExpenseInSellingGeneralAndAdministrativeExpense
307000 USD
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acfn Weighted Average Exercise Price Cashless Exercise
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3.68
acfn Weighted Average Exercise Price Exercised Options
WeightedAverageExercisePriceExercisedOptions
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acfn Wighted Average Exercise Price Of Options Granted
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dei Amendment Flag
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dei Current Fiscal Year End Date
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acfn Warrants Forfeited In Cashless Exercise
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acfn Share Based Compensation In Unallocated Costs
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181000 USD
acfn Share Based Compensation In Unallocated Costs
ShareBasedCompensationInUnallocatedCosts
531000 USD
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ShareBasedCompensationInUnallocatedCosts
284000 USD
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ShareBasedCompensationInUnallocatedCosts
39000 USD
acfn Stock Option Compensation Of Subsidiaries
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68000 USD
acfn Total Dividend Paid Cash And Shares
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634000 USD
CY2013Q2 acfn Unallocated Corporate Segment Costs
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acfn Unallocated Corporate Segment Costs
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acfn Unallocated Corporate Segment Costs
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acfn Unallocated Segment Costs
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CY2012Q2 acfn Unallocated Segment Costs
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acfn Unallocated Segment Costs
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000880984
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
18090536 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
ACORN ENERGY, INC.
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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