2019 Q2 Form 10-Q Financial Statement

#000119312519169843 Filed on June 11, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $36.18M $31.49M
YoY Change 14.91% 28.74%
Cost Of Revenue $21.94M $19.38M
YoY Change 13.24% 27.88%
Gross Profit $14.24M $12.11M
YoY Change 17.58% 30.13%
Gross Profit Margin 39.35% 38.46%
Selling, General & Admin $9.764M $9.153M
YoY Change 6.68% 29.02%
% of Gross Profit 68.57% 75.58%
Research & Development $2.007M $1.692M
YoY Change 18.62% 12.43%
% of Gross Profit 14.1% 13.97%
Depreciation & Amortization $1.584M $1.543M
YoY Change 2.66% 115.8%
% of Gross Profit 11.12% 12.74%
Operating Expenses $11.77M $10.85M
YoY Change 8.54% 26.12%
Operating Profit $2.468M $1.265M
YoY Change 95.1% 78.93%
Interest Expense -$400.0K -$300.0K
YoY Change 33.33%
% of Operating Profit -16.21% -23.72%
Other Income/Expense, Net -$368.0K -$270.0K
YoY Change 36.3% 462.5%
Pretax Income $2.100M $995.0K
YoY Change 111.06% 50.99%
Income Tax $400.0K $181.0K
% Of Pretax Income 19.05% 18.19%
Net Earnings $1.700M $814.0K
YoY Change 108.85% 58.98%
Net Earnings / Revenue 4.7% 2.59%
Basic Earnings Per Share $0.24 $0.12
Diluted Earnings Per Share $0.23 $0.12
COMMON SHARES
Basic Shares Outstanding 6.971M 6.788M
Diluted Shares Outstanding 7.248M 6.916M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.800M $6.800M
YoY Change -14.71% -71.43%
Cash & Equivalents $5.769M $6.838M
Short-Term Investments $0.00
Other Short-Term Assets $1.100M $1.200M
YoY Change -8.33% -25.0%
Inventory $32.04M $27.70M
Prepaid Expenses
Receivables $21.97M $25.29M
Other Receivables $0.00 $0.00
Total Short-Term Assets $60.98M $61.05M
YoY Change -0.11% -1.18%
LONG-TERM ASSETS
Property, Plant & Equipment $10.46M $9.761M
YoY Change 7.18% 5.71%
Goodwill $12.14M $12.79M
YoY Change -5.08% 6.92%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.200M $48.83M
YoY Change -93.45% 111.13%
Total Long-Term Assets $56.96M $58.59M
YoY Change -2.79% 81.05%
TOTAL ASSETS
Total Short-Term Assets $60.98M $61.05M
Total Long-Term Assets $56.96M $58.59M
Total Assets $117.9M $119.6M
YoY Change -1.42% 27.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.818M $9.945M
YoY Change -41.5% 94.24%
Accrued Expenses $2.848M $2.802M
YoY Change 1.64% 43.4%
Deferred Revenue $350.0K $301.0K
YoY Change 16.28%
Short-Term Debt $1.500M $0.00
YoY Change
Long-Term Debt Due $4.932M $4.932M
YoY Change 0.0% 346.74%
Total Short-Term Liabilities $22.33M $24.24M
YoY Change -7.89% 96.36%
LONG-TERM LIABILITIES
Long-Term Debt $11.58M $16.46M
YoY Change -29.61% 107.22%
Other Long-Term Liabilities $1.489M $2.244M
YoY Change -33.65% -7.96%
Total Long-Term Liabilities $13.07M $18.70M
YoY Change -30.09% 80.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.33M $24.24M
Total Long-Term Liabilities $13.07M $18.70M
Total Liabilities $46.33M $55.01M
YoY Change -15.79% 135.1%
SHAREHOLDERS EQUITY
Retained Earnings $50.72M $46.03M
YoY Change 10.18% 3.82%
Common Stock $54.99M $51.46M
YoY Change 6.86% 5.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $33.08M $32.53M
YoY Change 1.7% 54.95%
Treasury Stock Shares $3.265M 3.236M shares
Shareholders Equity $71.61M $64.63M
YoY Change
Total Liabilities & Shareholders Equity $117.9M $119.6M
YoY Change -1.42% 27.09%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $1.700M $814.0K
YoY Change 108.85% 58.98%
Depreciation, Depletion And Amortization $1.584M $1.543M
YoY Change 2.66% 115.8%
Cash From Operating Activities $987.0K -$1.611M
YoY Change -161.27% 109.22%
INVESTING ACTIVITIES
Capital Expenditures $586.0K $541.0K
YoY Change 8.32% 50.7%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.510M
YoY Change -100.0% -120.3%
Cash From Investing Activities -$586.0K $570.0K
YoY Change -202.81% -107.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.578M $1.776M
YoY Change -11.15%
Cash From Financing Activities -2.215M -2.307M
YoY Change -3.99% -126.16%
NET CHANGE
Cash From Operating Activities 987.0K -1.611M
Cash From Investing Activities -586.0K 570.0K
Cash From Financing Activities -2.215M -2.307M
Net Change In Cash -1.765M -3.339M
YoY Change -47.14% -1435.6%
FREE CASH FLOW
Cash From Operating Activities $987.0K -$1.611M
Capital Expenditures $586.0K $541.0K
Free Cash Flow $401.0K -$2.152M
YoY Change -118.63% 90.61%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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FiniteLivedIntangibleAssetsNet
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FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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FinitelivedIntangibleAssetsAccumulatedTranslationAdjustments
196000
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
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InventoryNet
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DebtInstrumentCarryingAmount
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AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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StockOptionPlanExpense
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StockOptionPlanExpense
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RestrictedStockExpense
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RestrictedStockExpense
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EmployeeStockPurchasePlanExpense
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EmployeeStockPurchasePlanExpense
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ShareBasedCompensation
601000
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ShareBasedCompensation
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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StockIssuedDuringPeriodSharesStockOptionsExercised
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
7525
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
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CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.40
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2019Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
14.40
CY2019Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P6Y10M24D
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.182
CY2019Q2 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
53000
CY2018Q2 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
78000
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
592000
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
618000
CY2019Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
13.07
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36181000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31487000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2999000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2653000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2468000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1265000
CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-368000
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-270000
CY2019Q2 alot Reservation Of Shares Under Employee Stock Purchase Plan
ReservationOfSharesUnderEmployeeStockPurchasePlan
247500
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
293000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
398000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
332000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
280000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
266000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
578000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2147000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
264000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1883000
CY2019Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
options to extend the lease term for periods up to 5 years
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
0
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1876000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1472000
CY2019Q2 alot Payments Of Minimum Guarantee Royalty Obligation
PaymentsOfMinimumGuaranteeRoyaltyObligation
375000
CY2018Q2 alot Payments Of Minimum Guarantee Royalty Obligation
PaymentsOfMinimumGuaranteeRoyaltyObligation
500000
CY2019Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2000000
CY2019Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
875000
CY2019Q2 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
109000
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
766000
CY2019Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2019Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
574000
CY2019Q2 dei Document Period End Date
DocumentPeriodEndDate
2019-05-04
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
520000
CY2019Q2 alot Guaranteed Minimum Royalty Payment
GuaranteedMinimumRoyaltyPayment
2000000
CY2019Q2 alot Capitalized Contract Costs Benefitial Term
CapitalizedContractCostsBenefitialTerm
P10Y
CY2019Q2 alot Tax Benefits Increases Resulting From Windfall
TaxBenefitsIncreasesResultingFromWindfall
97000
CY2018Q2 alot Tax Benefits Increases Resulting From Windfall
TaxBenefitsIncreasesResultingFromWindfall
30000
CY2019Q2 us-gaap Business Combination Contingent Consideration Liability Measurement Input
BusinessCombinationContingentConsiderationLiabilityMeasurementInput
7
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0402
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1876000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
411000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1472000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
387000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
294000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
273000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
568000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2616000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.80
CY2019Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7008028
CY2019Q2 dei Document Type
DocumentType
10-Q
CY2019Q2 dei Amendment Flag
AmendmentFlag
false
CY2019Q2 alot Changes To Unrecognized Tax Benefits
ChangesToUnrecognizedTaxBenefits
0
CY2019Q2 dei Entity Registrant Name
EntityRegistrantName
AstroNova, Inc.
CY2019Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000008146
CY2019Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--01-31
CY2019Q2 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019Q2 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2019Q2 dei Trading Symbol
TradingSymbol
ALOT
CY2019Q2 dei Entity Shell Company
EntityShellCompany
false
CY2019Q2 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019Q2 dei Entity Small Business
EntitySmallBusiness
true

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