2017 Q2 Form 10-Q Financial Statement

#000162828017008331 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $8.923M $13.35M
YoY Change -33.14% -43.75%
Cost Of Revenue $13.41M $12.48M
YoY Change 7.43% -39.12%
Gross Profit -$4.486M $863.0K
YoY Change -619.81% -73.2%
Gross Profit Margin -50.27% 6.47%
Selling, General & Admin $6.138M $7.216M
YoY Change -14.94% -4.23%
% of Gross Profit 836.15%
Research & Development $2.717M $2.952M
YoY Change -7.96% -6.64%
% of Gross Profit 342.06%
Depreciation & Amortization $4.200M $1.700M
YoY Change 147.06% 4258.97%
% of Gross Profit 196.99%
Operating Expenses $8.855M $10.17M
YoY Change -12.91% -4.95%
Operating Profit -$14.69M -$9.344M
YoY Change 57.25% 13.16%
Interest Expense -$10.00K -$135.0K
YoY Change -92.59% -145.0%
% of Operating Profit
Other Income/Expense, Net -$1.374M $126.0K
YoY Change -1190.48% -116.32%
Pretax Income -$15.15M -$10.03M
YoY Change 51.05% 17.36%
Income Tax $100.0K $324.0K
% Of Pretax Income
Net Earnings -$15.25M -$10.36M
YoY Change 47.29% 13.53%
Net Earnings / Revenue -170.93% -77.59%
Basic Earnings Per Share -$0.91 -$0.76
Diluted Earnings Per Share -$0.91 -$0.76
COMMON SHARES
Basic Shares Outstanding 16.78M shares 13.68M shares
Diluted Shares Outstanding 16.78M shares 13.68M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.50M $35.20M
YoY Change 6.53% -8.81%
Cash & Equivalents $37.48M $35.21M
Short-Term Investments
Other Short-Term Assets $3.400M $4.500M
YoY Change -24.44% -65.38%
Inventory $15.64M $28.89M
Prepaid Expenses
Receivables $7.752M $7.039M
Other Receivables $0.00 $0.00
Total Short-Term Assets $64.27M $75.66M
YoY Change -15.06% -1.86%
LONG-TERM ASSETS
Property, Plant & Equipment $39.28M $48.32M
YoY Change -18.7% -11.18%
Goodwill
YoY Change
Intangibles $192.0K $712.0K
YoY Change -73.03%
Long-Term Investments
YoY Change
Other Assets $267.0K $329.0K
YoY Change -18.84% -96.74%
Total Long-Term Assets $40.33M $50.39M
YoY Change -19.96% -23.42%
TOTAL ASSETS
Total Short-Term Assets $64.27M $75.66M
Total Long-Term Assets $40.33M $50.39M
Total Assets $104.6M $126.1M
YoY Change -17.02% -11.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $7.650M
YoY Change -76.47% 15.68%
Accrued Expenses $10.90M $15.60M
YoY Change -30.13% 35.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $3.000M
YoY Change -100.0% -21.05%
Total Short-Term Liabilities $32.70M $44.40M
YoY Change -26.34% 5.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $209.0K $57.00K
YoY Change 266.67% -98.37%
Total Long-Term Liabilities $209.0K $57.00K
YoY Change 266.67% -99.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.70M $44.40M
Total Long-Term Liabilities $209.0K $57.00K
Total Liabilities $41.29M $52.86M
YoY Change -21.9% 9.45%
SHAREHOLDERS EQUITY
Retained Earnings -$970.8M -$938.5M
YoY Change 3.44%
Common Stock $1.035B $1.013B
YoY Change 2.21%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.645M $1.341M
YoY Change 22.67%
Treasury Stock Shares
Shareholders Equity $63.32M $73.19M
YoY Change
Total Liabilities & Shareholders Equity $104.6M $126.1M
YoY Change -17.02% -11.79%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$15.25M -$10.36M
YoY Change 47.29% 13.53%
Depreciation, Depletion And Amortization $4.200M $1.700M
YoY Change 147.06% 4258.97%
Cash From Operating Activities -$5.430M -$2.060M
YoY Change 163.59% -32.24%
INVESTING ACTIVITIES
Capital Expenditures $76.00K $281.0K
YoY Change -72.95% 42.64%
Acquisitions
YoY Change
Other Investing Activities $23.00K $21.00K
YoY Change 9.52% -116.15%
Cash From Investing Activities -$89.00K -$270.0K
YoY Change -67.04% 350.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $17.00M
YoY Change
Debt Paid & Issued, Net $1.575M $1.000M
YoY Change 57.5% 0.0%
Cash From Financing Activities $15.11M -1.460M
YoY Change -1134.59% -106.89%
NET CHANGE
Cash From Operating Activities -$5.430M -2.060M
Cash From Investing Activities -$89.00K -270.0K
Cash From Financing Activities $15.11M -1.460M
Net Change In Cash $9.586M -3.790M
YoY Change -352.93% -120.96%
FREE CASH FLOW
Cash From Operating Activities -$5.430M -$2.060M
Capital Expenditures $76.00K $281.0K
Free Cash Flow -$5.506M -$2.341M
YoY Change 135.2% -27.68%

Facts In Submission

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ProductWarrantyAccrualPayments
359000 USD
CY2016Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
101000 USD
CY2017Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
41000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
115881000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
115100000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
43438000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39282000 USD
CY2016Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1000000 USD
CY2017Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1575000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2952000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2717000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
795000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
100000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
165000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
165000 USD
CY2017Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.08
CY2016Q2 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2017Q2 us-gaap Restructuring Charges
RestructuringCharges
1339000 USD
CY2017Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
0 USD
CY2017Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
751000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-955557000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-970809000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
13345000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
8923000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7216000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6138000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
60226000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
63317000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1371000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1645000 USD
CY2017Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
574000 USD
CY2017Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1145000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13676000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16778000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
456000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
311000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14132000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17089000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13676000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16778000 shares

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