2014 Q2 Form 10-Q Financial Statement

#000110465914036345 Filed on May 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q4
Revenue $41.20M $60.84M $58.57M
YoY Change -13.26% 49.39% 31.26%
Cost Of Revenue $26.70M $39.10M $37.30M
YoY Change -13.21% 40.73% -15.42%
Gross Profit $14.50M $21.74M $21.28M
YoY Change -13.37% 67.97% 4333.33%
Gross Profit Margin 35.19% 35.73% 36.33%
Selling, General & Admin $11.50M $11.96M $11.30M
YoY Change -4.21% 1.41% -16.3%
% of Gross Profit 79.31% 55.0% 53.1%
Research & Development $8.800M $9.257M $8.900M
YoY Change 3.49% 0.55% 5.95%
% of Gross Profit 60.69% 42.58% 41.82%
Depreciation & Amortization $1.160M $1.140M $1.130M
YoY Change -12.78% -18.22% -22.6%
% of Gross Profit 8.0% 5.24% 5.31%
Operating Expenses $20.30M $21.41M $20.20M
YoY Change 0.84% -4.53% -7.76%
Operating Profit -$5.800M $326.0K $1.080M
YoY Change 70.89% -103.44% -105.04%
Interest Expense -$300.0K $251.0K -$100.0K
YoY Change -688.24%
% of Operating Profit 76.99% -9.26%
Other Income/Expense, Net -$400.0K $43.00K -$400.0K
YoY Change 10.5% -94.83% -20.0%
Pretax Income -$6.700M $369.0K $500.0K
YoY Change 78.38% -104.26% -103.42%
Income Tax $200.0K $195.0K -$100.0K
% Of Pretax Income 52.85% -20.0%
Net Earnings -$6.900M $200.0K $600.0K
YoY Change 72.5% -102.22% -104.05%
Net Earnings / Revenue -16.75% 0.33% 1.02%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share -$248.2K $0.00 $21.90K
COMMON SHARES
Basic Shares Outstanding 111.2M shares 110.6M shares 109.6M shares
Diluted Shares Outstanding 115.8M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.60M $43.00M $46.30M
YoY Change 2.89% 1.42% 2.89%
Cash & Equivalents $35.60M $43.04M $46.29M
Short-Term Investments
Other Short-Term Assets $7.600M $7.500M $6.200M
YoY Change 24.59% 33.93% 19.23%
Inventory $106.7M $95.53M $95.79M
Prepaid Expenses
Receivables $32.10M $38.12M $36.59M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $181.9M $184.2M $184.9M
YoY Change 8.66% 8.37% 5.53%
LONG-TERM ASSETS
Property, Plant & Equipment $31.30M $31.61M $32.01M
YoY Change -5.05% -6.11% -6.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.40M $16.10M $15.81M
YoY Change -0.04% 30.38% 26.28%
Total Long-Term Assets $44.70M $48.53M $48.64M
YoY Change -3.6% 5.47% 3.64%
TOTAL ASSETS
Total Short-Term Assets $181.9M $184.2M $184.9M
Total Long-Term Assets $44.70M $48.53M $48.64M
Total Assets $226.6M $232.7M $233.5M
YoY Change 6.0% 7.75% 5.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.40M $17.87M $19.45M
YoY Change 7.49% 29.52% 91.33%
Accrued Expenses $4.000M $4.700M $4.800M
YoY Change -39.39% -47.19% -34.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $762.0K $471.0K
YoY Change
Total Short-Term Liabilities $32.10M $33.23M $35.46M
YoY Change -7.1% -2.48% 19.07%
LONG-TERM LIABILITIES
Long-Term Debt $13.90M $14.24M $14.53M
YoY Change
Other Long-Term Liabilities $7.200M $7.058M $7.236M
YoY Change 23.52% 23.54% 23.82%
Total Long-Term Liabilities $21.10M $21.30M $21.77M
YoY Change 261.98% 272.76% 272.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.10M $33.23M $35.46M
Total Long-Term Liabilities $21.10M $21.30M $21.77M
Total Liabilities $53.30M $54.78M $57.55M
YoY Change 31.15% 36.59% 59.49%
SHAREHOLDERS EQUITY
Retained Earnings -$339.4M -$339.6M
YoY Change 2.41% 5.32%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.218M $1.218M
YoY Change 0.0% 0.0%
Treasury Stock Shares 120.0K shares 120.0K shares
Shareholders Equity $173.3M $177.9M $176.0M
YoY Change
Total Liabilities & Shareholders Equity $226.6M $232.7M $233.5M
YoY Change 6.0% 7.75% 5.13%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income -$6.900M $200.0K $600.0K
YoY Change 72.5% -102.22% -104.05%
Depreciation, Depletion And Amortization $1.160M $1.140M $1.130M
YoY Change -12.78% -18.22% -22.6%
Cash From Operating Activities -$7.900M -$3.960M -$4.190M
YoY Change -11.43% 110.64% -644.16%
INVESTING ACTIVITIES
Capital Expenditures -$340.0K $227.0K -$340.0K
YoY Change 78.95% 51.33% 580.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $1.590M
YoY Change -100.0% -100.0% -81.75%
Cash From Investing Activities -$340.0K -$230.0K $1.250M
YoY Change -154.84% -192.0% -85.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 530.0K 1.280M 710.0K
YoY Change 51.43% 2460.0% 173.08%
NET CHANGE
Cash From Operating Activities -7.900M -3.960M -4.190M
Cash From Investing Activities -340.0K -230.0K 1.250M
Cash From Financing Activities 530.0K 1.280M 710.0K
Net Change In Cash -7.710M -2.910M -2.230M
YoY Change -3.02% 84.18% -123.01%
FREE CASH FLOW
Cash From Operating Activities -$7.900M -$3.960M -$4.190M
Capital Expenditures -$340.0K $227.0K -$340.0K
Free Cash Flow -$7.560M -$4.187M -$3.850M
YoY Change -13.4% 106.26% -569.51%

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-0.08
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-677000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
6000 USD
CY2014Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
38121000 USD
CY2014Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7476000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
31605000 USD
CY2014Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
825000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
16104000 USD
CY2014Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
17865000 USD
CY2014Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4692000 USD
CY2014Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
474000 USD
CY2014Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
3836000 USD
CY2014Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4100000 USD
CY2014Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
14238000 USD
CY2014Q1 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
257000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
7058000 USD
CY2014Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
111000 USD
CY2014Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
513411000 USD
CY2014Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1218000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-339447000 USD
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1140000 USD
CY2014Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
312000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1172000 USD
CY2014Q1 us-gaap Inventory Write Down
InventoryWriteDown
59000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1634000 USD
CY2014Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
52000 USD
CY2014Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1252000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2025000 USD
CY2014Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-614000 USD
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
5149000 shares
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
147500000 USD
CY2014Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
61000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1304000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
227000 USD
CY2014Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-338000 USD

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