2018 Q3 Form 10-Q Financial Statement

#000127518718000020 Filed on October 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $63.94M $64.91M
YoY Change -1.49% -26.32%
Cost Of Revenue $27.99M $44.18M
YoY Change -36.65% 2.59%
Gross Profit $35.95M $33.04M
YoY Change 8.81% -26.63%
Gross Profit Margin 56.23% 50.91%
Selling, General & Admin $26.84M $27.46M
YoY Change -2.25% -0.72%
% of Gross Profit 74.65% 83.1%
Research & Development $7.374M $6.441M
YoY Change 14.49% -3.99%
% of Gross Profit 20.51% 19.49%
Depreciation & Amortization $5.600M $5.790M
YoY Change -3.28% -5.85%
% of Gross Profit 15.58% 17.52%
Operating Expenses $42.08M $41.09M
YoY Change 2.42% -0.89%
Operating Profit -$6.129M $140.0K
YoY Change -4477.86% -96.08%
Interest Expense $917.0K $723.0K
YoY Change 26.83% 0.56%
% of Operating Profit 516.43%
Other Income/Expense, Net -$803.0K -$156.0K
YoY Change 414.74% -76.68%
Pretax Income -$6.932M -$16.00K
YoY Change 43225.0% -100.55%
Income Tax -$1.228M $19.00K
% Of Pretax Income
Net Earnings -$469.0K -$35.00K
YoY Change 1240.0% -102.69%
Net Earnings / Revenue -0.73% -0.05%
Basic Earnings Per Share -$0.01 $0.00
Diluted Earnings Per Share -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 37.32M shares 36.92M shares
Diluted Shares Outstanding 37.32M shares 36.92M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.11M $49.42M
YoY Change -47.16% 32.77%
Cash & Equivalents $24.76M $48.20M
Short-Term Investments $1.350M $1.215M
Other Short-Term Assets $4.900M $4.600M
YoY Change 6.52% -4.17%
Inventory $49.72M $55.43M
Prepaid Expenses
Receivables $40.16M $41.28M
Other Receivables $0.00 $0.00
Total Short-Term Assets $120.9M $150.7M
YoY Change -19.8% -1.02%
LONG-TERM ASSETS
Property, Plant & Equipment $42.16M $44.35M
YoY Change -4.94% -6.09%
Goodwill $383.0M $361.3M
YoY Change 6.02% 0.0%
Intangibles $144.2M $141.6M
YoY Change 1.84% -12.79%
Long-Term Investments
YoY Change
Other Assets $3.637M $2.431M
YoY Change 49.61% -32.57%
Total Long-Term Assets $573.0M $549.6M
YoY Change 4.25% -4.32%
TOTAL ASSETS
Total Short-Term Assets $120.9M $150.7M
Total Long-Term Assets $573.0M $549.6M
Total Assets $693.9M $700.3M
YoY Change -0.92% -3.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.92M $17.42M
YoY Change -2.9% 11.33%
Accrued Expenses $19.90M $32.26M
YoY Change -38.32% 67.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $5.000M
YoY Change 0.0% -71.43%
Total Short-Term Liabilities $45.79M $64.32M
YoY Change -28.81% -1.69%
LONG-TERM LIABILITIES
Long-Term Debt $85.44M $90.15M
YoY Change -5.22% -10.48%
Other Long-Term Liabilities $595.0K $829.0K
YoY Change -28.23% -24.64%
Total Long-Term Liabilities $86.04M $90.98M
YoY Change -5.43% 8170.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.79M $64.32M
Total Long-Term Liabilities $86.04M $90.98M
Total Liabilities $149.0M $182.5M
YoY Change -18.35% -14.74%
SHAREHOLDERS EQUITY
Retained Earnings $4.660M -$11.24M
YoY Change -141.46% -23.62%
Common Stock $547.0M $535.9M
YoY Change 2.07% 0.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.714M $5.714M
YoY Change 0.0% 171.58%
Treasury Stock Shares 370.0K shares 370.0K shares
Shareholders Equity $544.9M $517.9M
YoY Change
Total Liabilities & Shareholders Equity $693.9M $700.3M
YoY Change -0.92% -3.63%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$469.0K -$35.00K
YoY Change 1240.0% -102.69%
Depreciation, Depletion And Amortization $5.600M $5.790M
YoY Change -3.28% -5.85%
Cash From Operating Activities -$8.873M $3.040M
YoY Change -391.88% -59.14%
INVESTING ACTIVITIES
Capital Expenditures $682.0K $501.0K
YoY Change 36.13% 4.16%
Acquisitions $37.00M $0.00
YoY Change
Other Investing Activities -$37.00M
YoY Change
Cash From Investing Activities -$37.68M -$500.0K
YoY Change 7436.4% 4.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.250M $1.250M
YoY Change 0.0% -50.0%
Cash From Financing Activities -$2.645M -2.540M
YoY Change 4.13% 41.11%
NET CHANGE
Cash From Operating Activities -$8.873M 3.040M
Cash From Investing Activities -$37.68M -500.0K
Cash From Financing Activities -$2.645M -2.540M
Net Change In Cash -$49.20M 0.000
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities -$8.873M $3.040M
Capital Expenditures $682.0K $501.0K
Free Cash Flow -$9.555M $2.539M
YoY Change -476.33% -63.51%

Facts In Submission

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6100000 USD
CY2018Q2 us-gaap Inventory Work In Process
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10808000 USD
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InventoryWorkInProcess
9829000 USD
CY2017Q2 us-gaap Inventory Write Down
InventoryWriteDown
1600000 USD
CY2017Q4 us-gaap Inventory Write Down
InventoryWriteDown
700000 USD
CY2018Q2 us-gaap Liabilities
Liabilities
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CY2018Q3 us-gaap Liabilities
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CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
705472000 USD
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LiabilitiesAndStockholdersEquity
693871000 USD
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LongTermDebtCurrent
5000000 USD
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LongTermDebtCurrent
5000000 USD
CY2018Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
85444000 USD
CY2018Q2 us-gaap Long Term Loans Payable
LongTermLoansPayable
86621000 USD
CY2018Q3 us-gaap Long Term Loans Payable
LongTermLoansPayable
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12500000 USD
CY2018Q3 us-gaap Loss Contingency Accrual Payments
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12700000 USD
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CY2018Q3 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2018Q3 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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3036000 USD
CY2018Q3 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2017Q3 us-gaap Net Income Loss
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38000 USD
CY2018Q3 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
38000 USD
CY2017Q3 us-gaap Nonoperating Income Expense
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-156000 USD
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2018Q3 us-gaap Number Of Reportable Segments
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1 segment
CY2018Q3 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
OciBeforeReclassificationsBeforeTaxAttributableToParent
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CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
41089000 USD
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
140000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
326000 USD
CY2018Q2 us-gaap Other Accrued Liabilities Current
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CY2018Q3 us-gaap Other Accrued Liabilities Current
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CY2018Q2 us-gaap Other Assets Noncurrent
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3417000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
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3637000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
283000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-92000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
283000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-92000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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0 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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0 USD
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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0 USD
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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33000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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OtherLiabilitiesNoncurrent
595000 USD
CY2017Q3 us-gaap Other Noncash Income Expense
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567000 USD
CY2018Q3 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
567000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
114000 USD
CY2018Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
653000 USD
CY2017Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2018Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
37000000 USD
CY2017Q3 us-gaap Payments To Acquire Property Plant And Equipment
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501000 USD
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
682000 USD
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
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4302000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
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4888000 USD
CY2017Q3 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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812000 USD
CY2018Q3 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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705000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
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CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42163000 USD
CY2017Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
278000 USD
CY2018Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-228000 USD
CY2018Q3 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0 USD
CY2017Q3 us-gaap Repayments Of Long Term Debt
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1250000 USD
CY2018Q3 us-gaap Repayments Of Long Term Debt
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1250000 USD
CY2017Q3 us-gaap Research And Development Expense
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6441000 USD
CY2018Q3 us-gaap Research And Development Expense
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7662000 USD
us-gaap Restructuring Charges
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6100000 USD
CY2017Q3 us-gaap Restructuring Charges
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1200000 USD
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
130000 USD
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
100000 USD
CY2018Q2 us-gaap Restructuring Reserve
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1071000 USD
CY2018Q3 us-gaap Restructuring Reserve
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548000 USD
CY2018Q3 us-gaap Restructuring Reserve
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500000 USD
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1940000 USD
CY2018Q3 us-gaap Restructuring Reserve Current
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1428000 USD
CY2018Q3 us-gaap Restructuring Reserve Settled Without Cash2
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0 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5129000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4660000 USD
CY2017Q3 us-gaap Revenues
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85411000 USD
CY2018Q3 us-gaap Revenues
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CY2018Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
683000 USD
CY2018Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
1425000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
19402000 USD
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
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CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1797000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2150000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
557000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
608000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
542595000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
544889000 USD
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
370000 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
370000 shares
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
5714000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
5714000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36919000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37323000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36919000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37323000 shares

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