2014 Q3 Form 10-Q Financial Statement

#000088098414000011 Filed on August 11, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $5.639M $4.723M $5.233M
YoY Change 13.19% -9.75% -8.63%
Cost Of Revenue $4.134M $3.689M $3.961M
YoY Change 5.38% -6.87% -6.6%
Gross Profit $1.505M $1.034M $1.272M
YoY Change 42.12% -18.71% -14.4%
Gross Profit Margin 26.69% 21.89% 24.31%
Selling, General & Admin $3.757M $4.094M $4.970M
YoY Change -24.78% -17.63% 13.21%
% of Gross Profit 249.63% 395.94% 390.72%
Research & Development $1.756M $1.735M $2.116M
YoY Change -20.87% -18.01% 24.54%
% of Gross Profit 116.68% 167.79% 166.35%
Depreciation & Amortization $630.0K $140.0K $390.0K
YoY Change 53.66% -64.1% 5.41%
% of Gross Profit 41.86% 13.54% 30.66%
Operating Expenses $5.697M $6.676M $8.796M
YoY Change -58.11% -24.1% 44.46%
Operating Profit -$4.192M -$5.642M -$7.524M
YoY Change -66.58% -25.01% 63.46%
Interest Expense $80.00K -$90.00K $80.00K
YoY Change -900.0% -212.5% -38.46%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.136M -$5.753M -$7.449M
YoY Change -67.05% -22.77% 66.53%
Income Tax $12.00K $168.0K $16.00K
% Of Pretax Income
Net Earnings -$3.849M -$5.527M -$7.174M
YoY Change -68.74% -22.96% 123.91%
Net Earnings / Revenue -68.26% -117.02% -137.09%
Basic Earnings Per Share -$0.40
Diluted Earnings Per Share -$173.5K -$249.2K -$396.4K
COMMON SHARES
Basic Shares Outstanding 22.19M shares 22.19M shares 18.09M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.000M $8.300M $13.30M
YoY Change -45.95% -37.59% -59.45%
Cash & Equivalents $4.000M $8.268M $13.35M
Short-Term Investments
Other Short-Term Assets $1.972M $1.993M $3.343M
YoY Change -41.47% -40.38% 20.9%
Inventory $6.480M $6.461M $6.145M
Prepaid Expenses
Receivables $4.657M $2.994M $3.270M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $24.35M $27.06M $33.32M
YoY Change -11.61% -18.79% -38.87%
LONG-TERM ASSETS
Property, Plant & Equipment $2.268M $2.443M $2.049M
YoY Change 10.31% 19.23% 143.35%
Goodwill $4.352M $4.537M $6.407M
YoY Change -3.22% -29.19% -2.36%
Intangibles $3.390M $3.549M $7.846M
YoY Change -13.87% -54.77% -21.98%
Long-Term Investments
YoY Change
Other Assets $894.0K $730.0K $1.012M
YoY Change -4.69% -27.87% 922.22%
Total Long-Term Assets $14.67M $15.36M $20.68M
YoY Change -1.16% -25.7% -1.38%
TOTAL ASSETS
Total Short-Term Assets $24.35M $27.06M $33.32M
Total Long-Term Assets $14.67M $15.36M $20.68M
Total Assets $39.03M $42.42M $54.00M
YoY Change -7.95% -21.43% -28.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.804M $3.616M $2.154M
YoY Change 31.67% 67.87% -0.46%
Accrued Expenses $2.000M $2.300M $2.100M
YoY Change 0.0% 9.52% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.800M $3.400M $300.0K
YoY Change 300.0% 1033.33% 200.0%
Total Short-Term Liabilities $15.94M $14.84M $9.563M
YoY Change 54.79% 55.14% 4.08%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $887.0K $756.0K $691.0K
YoY Change 49.33% 9.41% 229.05%
Total Long-Term Liabilities $5.646M $5.785M $5.450M
YoY Change 4.0% 6.15% 28.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.94M $14.84M $9.563M
Total Long-Term Liabilities $5.646M $5.785M $5.450M
Total Liabilities $21.58M $20.62M $15.01M
YoY Change 37.26% 37.35% 11.85%
SHAREHOLDERS EQUITY
Retained Earnings -$73.13M -$69.28M -$41.88M
YoY Change 34.94% 65.41% 106.19%
Common Stock $94.83M $94.73M $83.68M
YoY Change 12.8% 13.2% -0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.036M $3.036M $3.036M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 801.9K shares 801.9K shares 801.9K shares
Shareholders Equity $19.24M $23.29M $39.13M
YoY Change
Total Liabilities & Shareholders Equity $39.03M $42.42M $54.00M
YoY Change -7.95% -21.43% -28.46%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$3.849M -$5.527M -$7.174M
YoY Change -68.74% -22.96% 123.91%
Depreciation, Depletion And Amortization $630.0K $140.0K $390.0K
YoY Change 53.66% -64.1% 5.41%
Cash From Operating Activities -$5.360M -$4.660M -$6.260M
YoY Change -2.37% -25.56% 20.38%
INVESTING ACTIVITIES
Capital Expenditures -$280.0K -$40.00K -$560.0K
YoY Change -77.6% -92.86% 93.1%
Acquisitions
YoY Change
Other Investing Activities -$70.00K -$810.0K $110.0K
YoY Change -61.11% -836.36% -237.5%
Cash From Investing Activities -$360.0K -$850.0K -$440.0K
YoY Change -74.83% 93.18% 15.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.500M 930.0K -20.00K
YoY Change 56.25% -4750.0% -97.92%
NET CHANGE
Cash From Operating Activities -5.360M -4.660M -6.260M
Cash From Investing Activities -360.0K -850.0K -440.0K
Cash From Financing Activities 1.500M 930.0K -20.00K
Net Change In Cash -4.220M -4.580M -6.720M
YoY Change -29.19% -31.85% 2.75%
FREE CASH FLOW
Cash From Operating Activities -$5.360M -$4.660M -$6.260M
Capital Expenditures -$280.0K -$40.00K -$560.0K
Free Cash Flow -$5.080M -$4.620M -$5.700M
YoY Change 19.81% -18.95% 16.09%

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dei Amendment Flag
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dei Current Fiscal Year End Date
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--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000880984
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
22189877 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
ACORN ENERGY, INC.
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

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