2017 Q1 Form 10-Q Financial Statement

#000162828017000901 Filed on February 06, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $16.20M $27.15M $25.77M
YoY Change -41.16% 5.34% 21.28%
Cost Of Revenue $13.36M $22.11M $19.26M
YoY Change -26.91% 14.76% 6.46%
Gross Profit $2.840M $5.041M $6.509M
YoY Change -69.26% -22.55% 106.24%
Gross Profit Margin 17.54% 18.57% 25.26%
Selling, General & Admin $6.050M $6.077M $7.023M
YoY Change -19.65% -13.47% -6.98%
% of Gross Profit 213.03% 120.55% 107.9%
Research & Development $3.740M $2.985M $2.759M
YoY Change 10.65% 8.19% -1.29%
% of Gross Profit 131.69% 59.21% 42.39%
Depreciation & Amortization $1.910M $1.700M $39.00K
YoY Change -0.52% 4258.97% 0.0%
% of Gross Profit 67.25% 33.72% 0.6%
Operating Expenses $9.820M $9.062M $9.782M
YoY Change -10.32% -7.36% -5.44%
Operating Profit -$6.988M -$4.060M -$3.312M
YoY Change 309.13% 22.58% -57.18%
Interest Expense $590.0K -$89.00K $200.0K
YoY Change -336.0% -144.5% -50.0%
% of Operating Profit
Other Income/Expense, Net -$420.0K $873.0K -$20.00K
YoY Change -66.93% -4465.0% -90.43%
Pretax Income -$6.820M -$2.850M -$2.151M
YoY Change 111.15% 32.5% -65.2%
Income Tax $110.0K -$82.00K $806.0K
% Of Pretax Income
Net Earnings -$6.925M -$2.768M -$2.957M
YoY Change 105.92% -6.39% -53.46%
Net Earnings / Revenue -42.76% -10.2% -11.47%
Basic Earnings Per Share -$0.50 -$0.20 -$0.22
Diluted Earnings Per Share -$0.50 -$0.20 -$0.22
COMMON SHARES
Basic Shares Outstanding 14.22M shares 13.79M shares 13.54M shares
Diluted Shares Outstanding 13.79M shares 13.54M shares

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.80M $25.10M $36.40M
YoY Change -31.81% -31.04% 1.11%
Cash & Equivalents $26.78M $25.06M $36.44M
Short-Term Investments
Other Short-Term Assets $3.500M $3.900M $6.000M
YoY Change -44.44% -35.0% -54.55%
Inventory $17.46M $19.44M $15.20M
Prepaid Expenses
Receivables $7.956M $15.86M $17.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $55.70M $64.26M $74.80M
YoY Change -33.17% -14.09% -13.54%
LONG-TERM ASSETS
Property, Plant & Equipment $43.44M $45.11M $51.20M
YoY Change -12.74% -11.89% -12.11%
Goodwill $0.00
YoY Change
Intangibles $301.0K $436.0K
YoY Change -64.75%
Long-Term Investments
YoY Change
Other Assets $233.0K $176.0K $8.900M
YoY Change -26.03% -98.02% 214.15%
Total Long-Term Assets $44.54M $45.98M $61.00M
YoY Change -14.3% -24.62% -13.45%
TOTAL ASSETS
Total Short-Term Assets $55.70M $64.26M $74.80M
Total Long-Term Assets $44.54M $45.98M $61.00M
Total Assets $100.2M $110.2M $135.8M
YoY Change -25.92% -18.82% -13.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.207M $6.593M $6.942M
YoY Change -45.06% -5.03% -10.25%
Accrued Expenses $9.900M $10.60M $12.90M
YoY Change -38.13% -17.83% -52.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.500M $1.500M $3.600M
YoY Change -42.31% -58.33% -2.7%
Total Short-Term Liabilities $32.22M $38.36M $45.40M
YoY Change -21.44% -15.5% -31.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $1.300M
YoY Change -100.0% -100.0% -73.47%
Other Long-Term Liabilities $45.00K $47.00K $4.100M
YoY Change -28.57% -98.85% 358.1%
Total Long-Term Liabilities $45.00K $47.00K $5.400M
YoY Change -28.57% -99.13% 503.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.22M $38.36M $45.40M
Total Long-Term Liabilities $45.00K $47.00K $5.400M
Total Liabilities $40.02M $46.45M $50.80M
YoY Change -22.7% -8.57% -31.82%
SHAREHOLDERS EQUITY
Retained Earnings -$955.6M -$948.6M
YoY Change 2.95%
Common Stock $1.018B $1.015B
YoY Change 0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.371M $1.371M
YoY Change 55.62%
Treasury Stock Shares 97.53K shares
Shareholders Equity $60.23M $63.79M $85.00M
YoY Change
Total Liabilities & Shareholders Equity $100.2M $110.2M $135.8M
YoY Change -25.92% -18.82% -13.5%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income -$6.925M -$2.768M -$2.957M
YoY Change 105.92% -6.39% -53.46%
Depreciation, Depletion And Amortization $1.910M $1.700M $39.00K
YoY Change -0.52% 4258.97% 0.0%
Cash From Operating Activities -$680.0K $370.0K -$30.00K
YoY Change -120.99% -1333.33% -99.69%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$200.0K -$480.0K
YoY Change -75.61% -58.33% 182.35%
Acquisitions
YoY Change
Other Investing Activities -$60.00K $920.0K $5.560M
YoY Change -113.95% -83.45% 146.02%
Cash From Investing Activities -$170.0K $730.0K $5.090M
YoY Change -1800.0% -85.66% 142.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.530M -1.170M -1.000M
YoY Change -353.0% 17.0% -111.22%
NET CHANGE
Cash From Operating Activities -680.0K 370.0K -30.00K
Cash From Investing Activities -170.0K 730.0K 5.090M
Cash From Financing Activities 2.530M -1.170M -1.000M
Net Change In Cash 1.680M -70.00K 4.060M
YoY Change -25.33% -101.72% 180.0%
FREE CASH FLOW
Cash From Operating Activities -$680.0K $370.0K -$30.00K
Capital Expenditures -$100.0K -$200.0K -$480.0K
Free Cash Flow -$580.0K $570.0K $450.0K
YoY Change -115.89% 26.67% -104.79%

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CY2016Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5433000 USD
CY2016Q1 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
2221000 USD
CY2016Q4 us-gaap Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
4298000 USD
CY2016Q1 us-gaap Inventory Net
InventoryNet
18512000 USD
CY2016Q4 us-gaap Inventory Net
InventoryNet
19442000 USD
CY2016Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
9665000 USD
CY2016Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
8433000 USD
CY2016Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
3411000 USD
CY2016Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1278000 USD
CY2015Q4 us-gaap Inventory Write Down
InventoryWriteDown
1000000 USD
us-gaap Inventory Write Down
InventoryWriteDown
1800000 USD
us-gaap Inventory Write Down
InventoryWriteDown
1835000 USD
CY2016Q4 us-gaap Inventory Write Down
InventoryWriteDown
400000 USD
us-gaap Inventory Write Down
InventoryWriteDown
1100000 USD
us-gaap Inventory Write Down
InventoryWriteDown
1074000 USD
CY2016Q1 us-gaap Liabilities
Liabilities
51769000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
46448000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
135318000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
110241000 USD
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
41007000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
38364000 USD
CY2016Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
1367000 USD
CY2016Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
0 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-2957000 USD
us-gaap Net Income Loss
NetIncomeLoss
-19777000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-2768000 USD
us-gaap Net Income Loss
NetIncomeLoss
-20448000 USD
CY2016Q1 us-gaap Notes Payable Current
NotesPayableCurrent
2624000 USD
CY2016Q4 us-gaap Notes Payable Current
NotesPayableCurrent
1453000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-4060000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-20554000 USD
CY2015Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3273000 USD
CY2015Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3110000 USD
CY2016Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3601000 USD
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3003000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1616000 USD
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
315000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
176000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-436000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-117000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-831000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1372000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-436000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-117000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-831000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1372000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
63000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
47000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-694000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
937000 USD
CY2015Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-20000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1189000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
873000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
481000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-271000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-117000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
110000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
490000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
788000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
557000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5778000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3097000 USD
CY2015Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
22300000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
30000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
0 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
2511000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
325000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
30000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15000 USD
CY2015Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3934000 USD
CY2016Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2694000 USD
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2677000 USD
CY2015Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
758000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1842000 USD
CY2016Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
608000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1933000 USD
CY2015Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
595000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1018000 USD
CY2016Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
591000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1009000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
49778000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
45114000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13746000 shares
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3167000 USD
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2759000 USD
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14175000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13539000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13052000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13792000 shares
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8924000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2985000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8804000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
457000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
795000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
934000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
140000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-928184000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-948632000 USD
CY2015Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
6.00
CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
25772000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
68499000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
27148000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
59000000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7023000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21331000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6077000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19640000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
83549000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
63793000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
881000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1371000 USD
CY2016Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1229000 USD
CY2016Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
588000 USD
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13539000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13052000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13792000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13746000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
471000 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
129000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
411000 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
429000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14010000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
13181000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14203000 shares

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