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Altimmune, Inc.

2013 Q2 Form 10-Q Financial Statement

#000114420413027117 Filed on May 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2013 Q1 2012 Q1
Revenue $1.656K $6.480M $6.150M
YoY Change -99.97% 5.37% -3.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.330M $2.280M $2.950M
YoY Change -16.19% -22.71% -40.28%
% of Gross Profit
Research & Development $3.403M $5.233M $4.705M
YoY Change -30.82% 11.22% -19.16%
% of Gross Profit
Depreciation & Amortization $41.85K $52.60K $90.00K
YoY Change -40.21% -41.55% -25.0%
% of Gross Profit
Operating Expenses $5.777M $7.566M $7.740M
YoY Change -25.7% -2.25% -28.85%
Operating Profit -$1.482M -$1.091M -$1.591M
YoY Change 1.61% -31.43% -64.96%
Interest Expense $100.0K $99.79K $3.028K
YoY Change -10.17% 3195.61% -80.38%
% of Operating Profit
Other Income/Expense, Net $256.6K -$1.011M -$938.8K
YoY Change -64.26% 7.68% -138.1%
Pretax Income -$1.225M -$2.102M -$2.529M
YoY Change 65.47% -16.91% 21.86%
Income Tax $11.21K $9.743K $150.4K
% Of Pretax Income
Net Earnings -$1.236M -$2.111M -$2.680M
YoY Change 63.42% -21.21% 29.11%
Net Earnings / Revenue -74660.14% -32.58% -43.58%
Basic Earnings Per Share -$0.02 -$0.04 -$0.06
Diluted Earnings Per Share -$0.02 -$0.04 -$0.06
COMMON SHARES
Basic Shares Outstanding 49.46M shares 48.37M
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.80M $12.90M $15.30M
YoY Change 33.9% -15.69% 57.73%
Cash & Equivalents $15.79M $12.87M $15.30M
Short-Term Investments
Other Short-Term Assets $700.0K $600.0K $800.0K
YoY Change 0.0% -25.0% -55.56%
Inventory
Prepaid Expenses
Receivables $5.200M $5.600M $5.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.69M $19.07M $21.53M
YoY Change 4.88% -11.43% 5.53%
LONG-TERM ASSETS
Property, Plant & Equipment $460.1K $456.8K $702.0K
YoY Change -26.45% -34.92% -36.18%
Goodwill $2.348M $2.348M $2.348M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $85.91K $99.58K $174.5K
YoY Change -42.91% -42.94% 74.53%
Total Long-Term Assets $2.894M $2.905M $3.225M
YoY Change -7.36% -9.93% -7.86%
TOTAL ASSETS
Total Short-Term Assets $21.69M $19.07M $21.53M
Total Long-Term Assets $2.894M $2.905M $3.225M
Total Assets $24.59M $21.97M $24.75M
YoY Change 3.27% -11.24% 3.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.993M $1.290M $1.411M
YoY Change 45.08% -8.57% -63.83%
Accrued Expenses $2.100M $3.300M $2.900M
YoY Change -32.26% 13.79% 3.57%
Deferred Revenue
YoY Change
Short-Term Debt $1.168M $1.329M $857.8K
YoY Change 54.96%
Long-Term Debt Due $1.000M $1.000M $195.4K
YoY Change 120.0% 411.74%
Total Short-Term Liabilities $7.722M $7.788M $5.314M
YoY Change 36.46% 46.55% -20.69%
LONG-TERM LIABILITIES
Long-Term Debt $1.218M $1.460M $2.235M
YoY Change -38.61% -34.65%
Other Long-Term Liabilities $577.7K $580.2K $556.0K
YoY Change 2.28% 4.36% -91.17%
Total Long-Term Liabilities $1.796M $2.041M $2.791M
YoY Change -29.54% -26.88% -55.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.722M $7.788M $5.314M
Total Long-Term Liabilities $1.796M $2.041M $2.791M
Total Liabilities $11.37M $12.03M $10.98M
YoY Change 10.76% 9.53% -15.52%
SHAREHOLDERS EQUITY
Retained Earnings -$202.0M -$200.7M -$196.4M
YoY Change 2.45% 2.22%
Common Stock $215.4M $210.9M $209.1M
YoY Change 2.73% 0.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.22M $9.943M $13.77M
YoY Change
Total Liabilities & Shareholders Equity $24.59M $21.97M $24.75M
YoY Change 3.27% -11.24% 3.57%

Cashflow Statement

Concept 2013 Q2 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$1.236M -$2.111M -$2.680M
YoY Change 63.42% -21.21% 29.11%
Depreciation, Depletion And Amortization $41.85K $52.60K $90.00K
YoY Change -40.21% -41.55% -25.0%
Cash From Operating Activities -$490.0K $260.4K $791.4K
YoY Change -81.85% -67.09% -137.91%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K $25.47K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $70.00K
YoY Change -100.0%
Cash From Investing Activities -$40.00K -$25.47K $67.40K
YoY Change -137.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $53.41K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.460M -$60.36K $3.205M
YoY Change -527.16% -101.88% 25014.53%
NET CHANGE
Cash From Operating Activities -490.0K $260.4K $791.4K
Cash From Investing Activities -40.00K -$25.47K $67.40K
Cash From Financing Activities 3.460M -$60.36K $3.205M
Net Change In Cash 2.930M $174.6K $4.063M
YoY Change -183.48% -95.7% -295.87%
FREE CASH FLOW
Cash From Operating Activities -$490.0K $260.4K $791.4K
Capital Expenditures -$40.00K $25.47K
Free Cash Flow -$450.0K $234.9K $791.4K
YoY Change -83.33% -70.31% -137.91%

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60000 shares
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
15948 shares
CY2013Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
1329233 USD
CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
1330507 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
9942765 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
11673840 USD
CY2013Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
3713797 USD
CY2012Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
4114442 USD
CY2013Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-905777 USD
CY2012Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-991662 USD
CY2013Q1 us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <em>Use of Estimates</em></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Our unaudited condensed consolidated financial statements include significant estimates for the expected economic life and value of our intangible assets, the amount of our net operating losses, our share-based compensation, the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates<font style="FONT: 10pt Times New Roman, Times, Serif">.</font></p> <!--EndFragment--></div> </div>
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
48359181 shares
CY2012Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
48269894 shares

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