2019 Q1 Form 10-Q Financial Statement

#000162828019000966 Filed on February 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2017 Q4
Revenue $14.59M $14.13M $14.93M
YoY Change 8.09% -5.35% -44.99%
Cost Of Revenue $11.83M $10.40M $9.917M
YoY Change 12.56% 4.85% -55.14%
Gross Profit $2.760M $3.736M $5.016M
YoY Change -7.69% -25.52% -0.5%
Gross Profit Margin 18.92% 26.43% 33.59%
Selling, General & Admin $5.720M $5.347M $5.486M
YoY Change 1.96% -2.53% -9.73%
% of Gross Profit 207.25% 143.12% 109.37%
Research & Development $2.300M $2.470M $3.023M
YoY Change -20.69% -18.29% 1.27%
% of Gross Profit 83.33% 66.11% 60.27%
Depreciation & Amortization $1.150M $1.100M $1.400M
YoY Change -48.2% -21.43% -17.65%
% of Gross Profit 41.67% 29.44% 27.91%
Operating Expenses $8.100M -$17.03M $8.509M
YoY Change -5.81% -300.13% -6.1%
Operating Profit -$5.340M $20.77M -$3.851M
YoY Change -8.06% -639.21% -5.15%
Interest Expense -$720.0K $336.0K $49.00K
YoY Change 46.94% 585.71% -155.06%
% of Operating Profit 1.62%
Other Income/Expense, Net $540.0K $124.0K -$279.0K
YoY Change -254.29% -144.44% -131.96%
Pretax Income -$6.520M $18.88M -$3.682M
YoY Change -1.95% -612.68% 29.19%
Income Tax $130.0K $1.584M $566.0K
% Of Pretax Income 8.39%
Net Earnings -$8.350M $17.29M -$4.248M
YoY Change 39.28% -507.09% 53.47%
Net Earnings / Revenue -57.23% 122.35% -28.45%
Basic Earnings Per Share $0.85 -$0.21
Diluted Earnings Per Share -$408.5K $0.83 -$0.21
COMMON SHARES
Basic Shares Outstanding 21.42M shares 20.42M 19.95M shares
Diluted Shares Outstanding 20.86M 19.95M shares

Balance Sheet

Concept 2019 Q1 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.50M $80.00M $22.10M
YoY Change 127.27% 261.99% -11.95%
Cash & Equivalents $77.48M $80.04M $22.11M
Short-Term Investments
Other Short-Term Assets $3.100M $4.100M $2.800M
YoY Change 6.9% 46.43% -28.21%
Inventory $12.12M $14.01M $17.13M
Prepaid Expenses
Receivables $7.855M $8.055M $12.05M
Other Receivables $2.800M $3.000M $0.00
Total Short-Term Assets $103.4M $109.2M $54.12M
YoY Change 53.92% 101.78% -15.79%
LONG-TERM ASSETS
Property, Plant & Equipment $8.972M $9.808M $36.68M
YoY Change -28.3% -73.26% -18.69%
Goodwill $1.719M $1.719M $1.719M
YoY Change 0.0% 0.0%
Intangibles $2.890M $2.975M $3.315M
YoY Change -10.53% -10.26% 660.32%
Long-Term Investments $0.00
YoY Change
Other Assets $279.0K $373.0K $227.0K
YoY Change 2.95% 64.32% 28.98%
Total Long-Term Assets $15.93M $19.31M $42.66M
YoY Change -24.13% -54.73% -7.23%
TOTAL ASSETS
Total Short-Term Assets $103.4M $109.2M $54.12M
Total Long-Term Assets $15.93M $19.31M $42.66M
Total Assets $119.3M $128.5M $96.77M
YoY Change 35.33% 32.79% -12.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.939M $2.939M $5.626M
YoY Change -5.07% -47.76% -14.67%
Accrued Expenses $9.000M $9.800M $8.500M
YoY Change 0.0% 15.29% -19.81%
Deferred Revenue $7.557M $9.929M
YoY Change -43.95%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $28.38M $31.49M $30.82M
YoY Change 3.88% 2.15% -19.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $93.00K $97.00K $54.00K
YoY Change 63.16% 79.63% 14.89%
Total Long-Term Liabilities $93.00K $97.00K $54.00K
YoY Change 63.16% 79.63% 14.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.38M $31.49M $30.82M
Total Long-Term Liabilities $93.00K $97.00K $54.00K
Total Liabilities $38.14M $39.83M $39.43M
YoY Change 6.1% 1.01% -15.12%
SHAREHOLDERS EQUITY
Retained Earnings -$961.5M -$953.2M -$982.3M
YoY Change -2.71% -2.97% 3.55%
Common Stock $1.045B $1.044B $1.041B
YoY Change 0.34% 0.33% 2.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.101M $2.101M $1.645M
YoY Change 27.72% 27.72% 19.99%
Treasury Stock Shares $235.5K
Shareholders Equity $81.19M $88.68M $57.35M
YoY Change
Total Liabilities & Shareholders Equity $119.3M $128.5M $96.77M
YoY Change 35.33% 32.79% -12.22%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income -$8.350M $17.29M -$4.248M
YoY Change 39.28% -507.09% 53.47%
Depreciation, Depletion And Amortization $1.150M $1.100M $1.400M
YoY Change -48.2% -21.43% -17.65%
Cash From Operating Activities -$5.080M $24.19M -$6.690M
YoY Change 10.43% -461.58% -1908.11%
INVESTING ACTIVITIES
Capital Expenditures -$240.0K -$290.0K -$1.650M
YoY Change -40.0% -82.42% 725.0%
Acquisitions
YoY Change
Other Investing Activities $3.060M $50.00K $100.0K
YoY Change -82.07% -50.0% -89.13%
Cash From Investing Activities $2.820M -$240.0K -$1.540M
YoY Change -83.07% -84.42% -310.96%
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 -60.00K 0.000
YoY Change 0.0% -100.0%
NET CHANGE
Cash From Operating Activities -5.080M 24.19M -6.690M
Cash From Investing Activities 2.820M -240.0K -1.540M
Cash From Financing Activities 90.00K -60.00K 0.000
Net Change In Cash -2.170M 23.89M -8.230M
YoY Change -117.86% -390.28% 11657.14%
FREE CASH FLOW
Cash From Operating Activities -$5.080M $24.19M -$6.690M
Capital Expenditures -$240.0K -$290.0K -$1.650M
Free Cash Flow -$4.840M $24.48M -$5.040M
YoY Change 15.24% -585.71% -984.21%

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InventoryWriteDown
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2017Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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0 USD
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ProceedsFromSaleOfPropertyPlantAndEquipment
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ProceedsFromSaleOfPropertyPlantAndEquipment
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ProductWarrantyAccrualClassifiedCurrent
1852000 USD
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ProductWarrantyAccrualClassifiedCurrent
1471000 USD
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ProductWarrantyAccrualClassifiedCurrent
1769000 USD
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ProductWarrantyAccrualClassifiedCurrent
1760000 USD
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1496000 USD
CY2017Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
406000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1025000 USD
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ProductWarrantyAccrualPayments
524000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
850000 USD
CY2017Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
25000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
152000 USD
CY2018Q4 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
260000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
577000 USD
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3023000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8690000 USD
CY2018Q4 us-gaap Research And Development Expense
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2470000 USD
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TreasuryStockValue
1645000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2101000 USD
CY2018Q1 us-gaap Unbilled Contracts Receivable
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CY2018Q4 us-gaap Stockholders Equity
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P12M
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us-gaap Research And Development Expense
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CY2018Q1 us-gaap Restructuring Reserve
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us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
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575000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
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977000 shares
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
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916000 shares
CY2017Q4 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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19189000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
21396000 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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CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20419000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20300000 shares

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