2017 Q3 Form 10-Q Financial Statement

#000162828017011077 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $11.05M $18.51M
YoY Change -40.3% -2.62%
Cost Of Revenue $10.78M $16.40M
YoY Change -34.3% 2.58%
Gross Profit $272.0K $2.103M
YoY Change -87.07% -30.18%
Gross Profit Margin 2.46% 11.36%
Selling, General & Admin $5.339M $6.347M
YoY Change -15.88% -6.29%
% of Gross Profit 1962.87% 301.81%
Research & Development $2.951M $2.867M
YoY Change 2.93% -4.53%
% of Gross Profit 1084.93% 136.33%
Depreciation & Amortization $3.200M $1.700M
YoY Change 88.24% 4258.97%
% of Gross Profit 1176.47% 80.84%
Operating Expenses $8.290M $9.214M
YoY Change -10.03% -5.75%
Operating Profit -$7.805M -$7.150M
YoY Change 9.16% 4.52%
Interest Expense $54.00K -$107.0K
YoY Change -150.47% -135.67%
% of Operating Profit
Other Income/Expense, Net -$796.0K -$518.0K
YoY Change 53.67% 30.48%
Pretax Income -$7.452M -$6.531M
YoY Change 14.1% -4.28%
Income Tax -$171.0K $794.0K
% Of Pretax Income
Net Earnings -$7.281M -$7.325M
YoY Change -0.6% -4.85%
Net Earnings / Revenue -65.9% -39.58%
Basic Earnings Per Share -$0.38 -$0.53
Diluted Earnings Per Share -$0.38 -$0.53
COMMON SHARES
Basic Shares Outstanding 19.06M shares 13.77M shares
Diluted Shares Outstanding 19.06M shares 13.77M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.30M $25.30M
YoY Change 19.76% -22.39%
Cash & Equivalents $30.32M $25.26M
Short-Term Investments
Other Short-Term Assets $3.300M $3.300M
YoY Change 0.0% -71.55%
Inventory $15.98M $26.45M
Prepaid Expenses
Receivables $8.193M $12.13M
Other Receivables $0.00 $0.00
Total Short-Term Assets $57.82M $67.14M
YoY Change -13.88% -5.97%
LONG-TERM ASSETS
Property, Plant & Equipment $36.44M $46.68M
YoY Change -21.94% -11.43%
Goodwill $1.711M
YoY Change
Intangibles $3.496M $571.0K
YoY Change 512.26%
Long-Term Investments
YoY Change
Other Assets $381.0K $336.0K
YoY Change 13.39% -96.31%
Total Long-Term Assets $42.73M $48.61M
YoY Change -12.11% -22.71%
TOTAL ASSETS
Total Short-Term Assets $57.82M $67.14M
Total Long-Term Assets $42.73M $48.61M
Total Assets $100.5M $115.8M
YoY Change -13.14% -13.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.089M $6.262M
YoY Change -34.7% -7.95%
Accrued Expenses $7.700M $11.00M
YoY Change -30.0% 2.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $2.100M
YoY Change -100.0% -46.15%
Total Short-Term Liabilities $31.31M $40.67M
YoY Change -23.02% -0.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $137.0K $54.00K
YoY Change 153.7% -98.58%
Total Long-Term Liabilities $137.0K $54.00K
YoY Change 153.7% -99.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.31M $40.67M
Total Long-Term Liabilities $137.0K $54.00K
Total Liabilities $39.90M $49.05M
YoY Change -18.66% 5.26%
SHAREHOLDERS EQUITY
Retained Earnings -$978.1M -$945.9M
YoY Change 3.41%
Common Stock $1.040B $1.014B
YoY Change 2.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.645M $1.371M
YoY Change 19.99%
Treasury Stock Shares
Shareholders Equity $60.65M $66.70M
YoY Change
Total Liabilities & Shareholders Equity $100.5M $115.8M
YoY Change -13.14% -13.81%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$7.281M -$7.325M
YoY Change -0.6% -4.85%
Depreciation, Depletion And Amortization $3.200M $1.700M
YoY Change 88.24% 4258.97%
Cash From Operating Activities -$8.110M -$8.850M
YoY Change -8.36% 87.1%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$80.00K
YoY Change 400.0% -27.27%
Acquisitions
YoY Change
Other Investing Activities $980.0K -$20.00K
YoY Change -5000.0% -60.0%
Cash From Investing Activities $570.0K -$100.0K
YoY Change -670.0% -41.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 80.00K -1.030M
YoY Change -107.77% 5.1%
NET CHANGE
Cash From Operating Activities -8.110M -8.850M
Cash From Investing Activities 570.0K -100.0K
Cash From Financing Activities 80.00K -1.030M
Net Change In Cash -7.460M -9.980M
YoY Change -25.25% 69.73%
FREE CASH FLOW
Cash From Operating Activities -$8.110M -$8.850M
Capital Expenditures -$400.0K -$80.00K
Free Cash Flow -$7.710M -$8.770M
YoY Change -12.09% 89.83%

Facts In Submission

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NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
85100000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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us-gaap Net Income Loss
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NetIncomeLoss
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us-gaap Net Income Loss
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CY2017Q1 us-gaap Notes Payable Current
NotesPayableCurrent
1481000 USD
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NotesPayableCurrent
0 USD
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OperatingIncomeLoss
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us-gaap Operating Income Loss
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OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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233000 USD
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381000 USD
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
111000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
401000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1221000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
111000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-541000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
401000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1221000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
45000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
137000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
103000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
97000 USD
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OtherNonoperatingIncomeExpense
-518000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-393000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-796000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2170000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
28000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
130000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
490000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
274000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-134000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
359000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
483000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2703000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3323000 USD
CY2017Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17000000 USD
CY2017Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17000000 USD
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RestructuringReserveCurrent
0 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
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36438000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1575000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2867000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5819000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2951000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5667000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
85000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
795000 USD
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
165000 USD
us-gaap Restructuring Charges
RestructuringCharges
1328000 USD
CY2017Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
493000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-955557000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-978090000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
18507000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
31852000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
11049000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
19971000 USD
CY2017Q3 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
CY2016Q3 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
-12000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
951000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
12000 USD
CY2016Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3601000 USD
CY2016Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2774000 USD
CY2016Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2694000 USD
CY2017Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2344000 USD
CY2017Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2026000 USD
CY2017Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1852000 USD
CY2016Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
396000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1324000 USD
CY2017Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
260000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
619000 USD
CY2016Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
316000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
417000 USD
CY2017Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
86000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
127000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentNet
43438000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5339000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11477000 USD
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StockholdersEquity
60226000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1371000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1645000 USD
CY2017Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
574000 USD
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627000 USD
CY2017Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-1100000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13769000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13723000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19060000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17925000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
421000 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
438000 shares
CY2017Q3 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
391000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14190000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14161000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19531000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
18316000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13769000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13723000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19060000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17925000 shares

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