2018 Q1 Form 10-Q Financial Statement

#000007874918000008 Filed on January 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $32.06M $31.31M $31.31M
YoY Change 0.0% 0.0% -6.39%
Cost Of Revenue $15.30M $15.68M $17.21M
YoY Change 1.32% -8.86% 16.27%
Gross Profit $16.75M $15.63M $15.63M
YoY Change 0.0% 0.0% -3.77%
Gross Profit Margin 52.25% 49.91% 49.91%
Selling, General & Admin $10.00M $19.24M $8.678M
YoY Change -11.5% 121.72% -14.38%
% of Gross Profit 59.71% 123.12% 55.53%
Research & Development $7.200M $7.269M $6.847M
YoY Change -14.29% 6.16% -1.75%
% of Gross Profit 42.99% 46.51% 43.81%
Depreciation & Amortization $3.800M $581.0K $598.0K
YoY Change 15.15% -2.84% 5.1%
% of Gross Profit 22.69% 3.72% 3.83%
Operating Expenses $18.40M $26.51M $15.53M
YoY Change -10.68% 70.76% -9.23%
Operating Profit -$1.651M -$3.613M -$1.629M
YoY Change -57.13% 121.79% -2.98%
Interest Expense $0.00 $3.000K $3.000K
YoY Change 0.0% -62.5%
% of Operating Profit
Other Income/Expense, Net $200.0K $46.00K -$62.00K
YoY Change -300.0% -174.19% -1.59%
Pretax Income -$2.000M -$3.557M -$1.608M
YoY Change -62.26% 121.21% -7.0%
Income Tax $200.0K -$1.623M $129.0K
% Of Pretax Income
Net Earnings -$210.0K -$1.934M -$1.934M
YoY Change 0.0% 0.0% 11.34%
Net Earnings / Revenue -0.66% -6.18% -6.18%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$8.734K -$82.97K -$75.22K
COMMON SHARES
Basic Shares Outstanding 23.31M shares 22.85M shares 22.61M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.90M $37.60M $52.70M
YoY Change -19.07% -28.65% -19.79%
Cash & Equivalents $39.94M $37.62M $52.71M
Short-Term Investments
Other Short-Term Assets $5.600M $6.800M $8.600M
YoY Change -13.85% -20.93% 30.3%
Inventory $1.999M $2.131M $2.084M
Prepaid Expenses $5.593M $6.849M $8.593M
Receivables $16.39M $14.75M $15.31M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $63.92M $61.34M $78.70M
YoY Change -13.05% -22.06% -17.57%
LONG-TERM ASSETS
Property, Plant & Equipment $17.51M $17.76M $13.83M
YoY Change 9.45% 28.43% -0.2%
Goodwill $19.60M $19.62M $19.62M
YoY Change 0.0% 0.0% 0.0%
Intangibles $8.484M $8.496M $8.542M
YoY Change -0.54% -0.54% -3.81%
Long-Term Investments
YoY Change
Other Assets $2.484M $2.613M $2.477M
YoY Change -5.69% 5.49% -46.96%
Total Long-Term Assets $93.28M $94.58M $93.01M
YoY Change -0.54% 1.69% 5.21%
TOTAL ASSETS
Total Short-Term Assets $63.92M $61.34M $78.70M
Total Long-Term Assets $93.28M $94.58M $93.01M
Total Assets $157.2M $155.9M $171.7M
YoY Change -6.04% -9.19% -6.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.400M $8.175M $8.623M
YoY Change -3.47% -5.2% -24.37%
Accrued Expenses $9.241M $9.843M $10.62M
YoY Change 10.92% -7.33% -4.37%
Deferred Revenue $26.82M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $44.58M $41.56M $46.61M
YoY Change -3.79% -10.82% -10.4%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $3.911M $3.985M $4.076M
YoY Change -2.27% -2.23% -10.67%
Total Long-Term Liabilities $3.911M $3.985M $4.076M
YoY Change -2.27% -2.23% -10.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.58M $41.56M $46.61M
Total Long-Term Liabilities $3.911M $3.985M $4.076M
Total Liabilities $48.49M $45.55M $50.68M
YoY Change -3.67% -10.13% -10.42%
SHAREHOLDERS EQUITY
Retained Earnings $103.6M $103.8M $118.0M
YoY Change -8.07% -12.01% -6.33%
Common Stock $9.482M $9.482M $9.482M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.486M $2.463M $2.521M
YoY Change -1.31% -2.3% -2.96%
Treasury Stock Shares 8.282M shares 8.204M shares 8.399M shares
Shareholders Equity $108.4M $108.2M $117.7M
YoY Change
Total Liabilities & Shareholders Equity $157.2M $155.9M $171.7M
YoY Change -6.04% -9.19% -6.62%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income -$210.0K -$1.934M -$1.934M
YoY Change 0.0% 0.0% 11.34%
Depreciation, Depletion And Amortization $3.800M $581.0K $598.0K
YoY Change 15.15% -2.84% 5.1%
Cash From Operating Activities $4.800M $3.700M $5.600M
YoY Change -340.0% -33.93% -34.12%
INVESTING ACTIVITIES
Capital Expenditures -$2.500M -$4.000M -$4.400M
YoY Change -28.57% -9.09% -10.2%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$2.500M -$4.000M -$4.400M
YoY Change 78.57% -9.09% -12.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -700.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 4.800M 3.700M 5.600M
Cash From Investing Activities -2.500M -4.000M -4.400M
Cash From Financing Activities 0.000 -700.0K 0.000
Net Change In Cash 2.300M -1.000M 1.200M
YoY Change -165.71% -183.33% -65.71%
FREE CASH FLOW
Cash From Operating Activities $4.800M $3.700M $5.600M
Capital Expenditures -$2.500M -$4.000M -$4.400M
Free Cash Flow $7.300M $7.700M $10.00M
YoY Change 386.67% -23.0% -25.37%

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FiniteLivedIntangibleAssetsGross
23840000 USD
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FiniteLivedIntangibleAssetsNet
130000 USD
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96000 USD
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CY2016Q4 us-gaap General And Administrative Expense
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3678000 USD
us-gaap General And Administrative Expense
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13692000 USD
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18475000 USD
CY2017Q1 us-gaap Goodwill
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16241000 USD
us-gaap Gross Profit
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48310000 USD
CY2017Q4 us-gaap Gross Profit
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15628000 USD
us-gaap Gross Profit
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47673000 USD
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-1608000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-6182000 USD
CY2017Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3557000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-9577000 USD
CY2016Q4 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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252000 USD
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1439000 USD
us-gaap Income Tax Reconciliation Tax Settlements State And Local
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400000 USD
us-gaap Increase Decrease In Accounts Payable
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714000 USD
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5000 USD
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-6668000 USD
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-903000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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-105000 USD
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1214000 USD
us-gaap Increase Decrease In Deferred Revenue
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-4601000 USD
us-gaap Increase Decrease In Deferred Revenue
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-5787000 USD
us-gaap Increase Decrease In Income Taxes
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104000 USD
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-503000 USD
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-87000 USD
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-2558000 USD
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1681000 USD
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7000 USD
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541000 USD
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279000 USD
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-1306000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-460000 USD
CY2017Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
32240000 USD
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
32240000 USD
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IntangibleAssetsNetExcludingGoodwill
8530000 USD
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InterestExpense
3000 USD
us-gaap Interest Expense
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11000 USD
CY2017Q4 us-gaap Interest Expense
InterestExpense
3000 USD
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2211000 USD
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2131000 USD
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86000 USD
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135000 USD
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InvestmentIncomeInterest
13000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
64000 USD
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167305000 USD
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46337000 USD
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41564000 USD
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-197000 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
0 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
-11000 USD
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LitigationSettlementExpense
0 USD
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
85000 USD
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150000 USD
us-gaap Litigation Settlement Expense
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150000 USD
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-687000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-1282000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-12502000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-12588000 USD
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5393000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2098000 USD
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-1737000 USD
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-6434000 USD
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-1934000 USD
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-8138000 USD
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-1629000 USD
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OperatingIncomeLoss
-3613000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-9830000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
443000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
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373000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
79000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Noncurrent
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78000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
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2634000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
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2613000 USD
CY2016Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-5000 USD
us-gaap Payments For Proceeds From Life Insurance Policies
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27000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-12000 USD
CY2017Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-17000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
5000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
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4002000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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3985000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-62000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-140000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
46000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
196000 USD
us-gaap Payments For Legal Settlements
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100000 USD
us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
1000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
821000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
404000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1190000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3327000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5289000 USD
CY2017Q1 us-gaap Prepaid Expense Current
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6456000 USD
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6849000 USD
us-gaap Proceeds From Legal Settlements
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150000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
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16000000 USD
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17760000 USD
us-gaap Repayments Of Long Term Debt
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86000 USD
us-gaap Repayments Of Long Term Debt
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92000 USD
CY2016Q4 us-gaap Research And Development Expense
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6847000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20647000 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7269000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20708000 USD
CY2017Q1 us-gaap Restructuring Reserve
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0 USD
CY2017Q4 us-gaap Restructuring Reserve
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203000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
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1024000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
112692000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
103812000 USD
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
10006000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
30257000 USD
CY2017Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
8156000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
25758000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
33448000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
97076000 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
31310000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
95305000 USD
CY2016Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
7208000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
19732000 USD
CY2017Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
5939000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
18557000 USD
CY2016Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5000000 USD
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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22611000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22605000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22851000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22777000 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
8396149 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
8204319 shares
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2519000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2463000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15746000 USD
CY2017Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4278000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13616000 USD
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
-58000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
782000 USD
CY2017Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1458000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3776000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
1300000 shares
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
113669000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
108214000 USD
CY2017Q1 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
11000 USD
CY2017Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
16000 USD

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