2018 Q1 Form 10-Q Financial Statement

#000162828018000993 Filed on February 05, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $13.50M $14.93M $27.15M
YoY Change -16.65% -44.99% 5.34%
Cost Of Revenue $10.51M $9.917M $22.11M
YoY Change -21.33% -55.14% 14.76%
Gross Profit $2.990M $5.016M $5.041M
YoY Change 5.28% -0.5% -22.55%
Gross Profit Margin 22.15% 33.59% 18.57%
Selling, General & Admin $5.610M $5.486M $6.077M
YoY Change -7.27% -9.73% -13.47%
% of Gross Profit 187.63% 109.37% 120.55%
Research & Development $2.900M $3.023M $2.985M
YoY Change -22.46% 1.27% 8.19%
% of Gross Profit 96.99% 60.27% 59.21%
Depreciation & Amortization $2.220M $1.400M $1.700M
YoY Change 16.23% -17.65% 4258.97%
% of Gross Profit 74.25% 27.91% 33.72%
Operating Expenses $8.600M $8.509M $9.062M
YoY Change -12.42% -6.1% -7.36%
Operating Profit -$5.808M -$3.851M -$4.060M
YoY Change -16.89% -5.15% 22.58%
Interest Expense -$490.0K $49.00K -$89.00K
YoY Change -183.05% -155.06% -144.5%
% of Operating Profit
Other Income/Expense, Net -$350.0K -$279.0K $873.0K
YoY Change -16.67% -131.96% -4465.0%
Pretax Income -$6.650M -$3.682M -$2.850M
YoY Change -2.49% 29.19% 32.5%
Income Tax -$660.0K $566.0K -$82.00K
% Of Pretax Income
Net Earnings -$5.995M -$4.248M -$2.768M
YoY Change -13.43% 53.47% -6.39%
Net Earnings / Revenue -44.41% -28.45% -10.2%
Basic Earnings Per Share -$0.30 -$0.21 -$0.20
Diluted Earnings Per Share -$0.30 -$0.21 -$0.20
COMMON SHARES
Basic Shares Outstanding 20.94M shares 19.95M shares 13.79M shares
Diluted Shares Outstanding 19.95M shares 13.79M shares

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.10M $22.10M $25.10M
YoY Change 27.24% -11.95% -31.04%
Cash & Equivalents $34.08M $22.11M $25.06M
Short-Term Investments
Other Short-Term Assets $2.900M $2.800M $3.900M
YoY Change -17.14% -28.21% -35.0%
Inventory $19.78M $17.13M $19.44M
Prepaid Expenses
Receivables $7.365M $12.05M $15.86M
Other Receivables $3.000M $0.00 $0.00
Total Short-Term Assets $67.18M $54.12M $64.26M
YoY Change 20.6% -15.79% -14.09%
LONG-TERM ASSETS
Property, Plant & Equipment $12.51M $36.68M $45.11M
YoY Change -71.19% -18.69% -11.89%
Goodwill $1.719M $1.719M
YoY Change
Intangibles $3.230M $3.315M $436.0K
YoY Change 973.09% 660.32%
Long-Term Investments $0.00
YoY Change
Other Assets $271.0K $227.0K $176.0K
YoY Change 16.31% 28.98% -98.02%
Total Long-Term Assets $21.00M $42.66M $45.98M
YoY Change -52.86% -7.23% -24.62%
TOTAL ASSETS
Total Short-Term Assets $67.18M $54.12M $64.26M
Total Long-Term Assets $21.00M $42.66M $45.98M
Total Assets $88.18M $96.77M $110.2M
YoY Change -12.04% -12.22% -18.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.096M $5.626M $6.593M
YoY Change -3.46% -14.67% -5.03%
Accrued Expenses $9.000M $8.500M $10.60M
YoY Change -9.09% -19.81% -17.83%
Deferred Revenue $13.48M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $1.500M
YoY Change -100.0% -100.0% -58.33%
Total Short-Term Liabilities $27.33M $30.82M $38.36M
YoY Change -15.18% -19.66% -15.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $57.00K $54.00K $47.00K
YoY Change 26.67% 14.89% -98.85%
Total Long-Term Liabilities $57.00K $54.00K $47.00K
YoY Change 26.67% 14.89% -99.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.33M $30.82M $38.36M
Total Long-Term Liabilities $57.00K $54.00K $47.00K
Total Liabilities $35.95M $39.43M $46.45M
YoY Change -10.18% -15.12% -8.57%
SHAREHOLDERS EQUITY
Retained Earnings -$988.3M -$982.3M -$948.6M
YoY Change 3.43% 3.55%
Common Stock $1.041B $1.041B $1.015B
YoY Change 2.33% 2.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.645M $1.645M $1.371M
YoY Change 19.99% 19.99%
Treasury Stock Shares $165.1K
Shareholders Equity $52.23M $57.35M $63.79M
YoY Change
Total Liabilities & Shareholders Equity $88.18M $96.77M $110.2M
YoY Change -12.04% -12.22% -18.82%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income -$5.995M -$4.248M -$2.768M
YoY Change -13.43% 53.47% -6.39%
Depreciation, Depletion And Amortization $2.220M $1.400M $1.700M
YoY Change 16.23% -17.65% 4258.97%
Cash From Operating Activities -$4.600M -$6.690M $370.0K
YoY Change 576.47% -1908.11% -1333.33%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$1.650M -$200.0K
YoY Change 300.0% 725.0% -58.33%
Acquisitions
YoY Change
Other Investing Activities $17.07M $100.0K $920.0K
YoY Change -28550.0% -89.13% -83.45%
Cash From Investing Activities $16.66M -$1.540M $730.0K
YoY Change -9900.0% -310.96% -85.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.00K 0.000 -1.170M
YoY Change -96.44% -100.0% 17.0%
NET CHANGE
Cash From Operating Activities -4.600M -6.690M 370.0K
Cash From Investing Activities 16.66M -1.540M 730.0K
Cash From Financing Activities 90.00K 0.000 -1.170M
Net Change In Cash 12.15M -8.230M -70.00K
YoY Change 623.21% 11657.14% -101.72%
FREE CASH FLOW
Cash From Operating Activities -$4.600M -$6.690M $370.0K
Capital Expenditures -$400.0K -$1.650M -$200.0K
Free Cash Flow -$4.200M -$5.040M $570.0K
YoY Change 624.14% -984.21% 26.67%

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490000 USD
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0 USD
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557000 USD
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2125000 USD
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0 USD
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2 segment
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
52000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1273000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2017Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
52000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1273000 USD
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
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0 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
85000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
18000 USD
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3601000 USD
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ProductWarrantyAccrualClassifiedCurrent
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1471000 USD
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ProductWarrantyAccrualPayments
608000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1933000 USD
CY2017Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
406000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1025000 USD
CY2016Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
591000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1009000 USD
CY2017Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
25000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
152000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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2985000 USD
us-gaap Research And Development Expense
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RestrictedCashAndCashEquivalentsAtCarryingValue
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RestrictedCashAndCashEquivalentsNoncurrent
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CY2017Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
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CY2016Q4 us-gaap Restructuring Charges
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RestructuringCharges
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us-gaap Restructuring Charges
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34904000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
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SellingGeneralAndAdministrativeExpense
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CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q1 us-gaap Treasury Stock Value
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CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2017Q1 us-gaap Unbilled Contracts Receivable
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CY2017Q4 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13746000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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18614000 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
CY2017Q4 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
940000 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
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575000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Issued Basic
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us-gaap Weighted Average Number Of Shares Issued Basic
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14175000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
20889000 shares
us-gaap Weighted Average Number Of Shares Issued Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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13746000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19949000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18614000 shares

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