2021 Q1 Form 10-Q Financial Statement

#000127518721000008 Filed on March 31, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1 2019 Q4
Revenue $71.18M $69.78M $70.00M
YoY Change 2.01% 6.5% 0.03%
Cost Of Revenue $32.65M $29.48M $28.46M
YoY Change 10.76% 7.75% -3.31%
Gross Profit $38.53M $40.30M $41.54M
YoY Change -4.39% 5.6% 2.45%
Gross Profit Margin 54.13% 57.75% 59.35%
Selling, General & Admin $28.62M $31.14M $31.11M
YoY Change -8.09% 14.88% 9.05%
% of Gross Profit 74.27% 77.26% 74.88%
Research & Development $8.565M $8.395M $7.764M
YoY Change 2.03% 21.4% 9.72%
% of Gross Profit 22.23% 20.83% 18.69%
Depreciation & Amortization $6.380M $6.440M $5.900M
YoY Change -0.93% -6.26% -11.81%
% of Gross Profit 16.56% 15.98% 14.2%
Operating Expenses $42.27M $46.54M $44.97M
YoY Change -9.17% 11.23% 4.38%
Operating Profit -$3.738M -$6.236M -$3.423M
YoY Change -40.06% 69.73% 35.46%
Interest Expense $226.0K $166.0K $41.00K
YoY Change 36.14% -88.49% -96.92%
% of Operating Profit
Other Income/Expense, Net -$389.0K -$297.0K $121.0K
YoY Change 30.98% -82.61% -109.68%
Pretax Income -$4.127M -$6.533M -$3.302M
YoY Change -36.83% 21.39% -12.58%
Income Tax -$583.0K -$824.0K -$566.0K
% Of Pretax Income
Net Earnings -$3.544M -$5.709M -$2.736M
YoY Change -37.92% -817.21% -227.85%
Net Earnings / Revenue -4.98% -8.18% -3.91%
Basic Earnings Per Share -$0.09 -$0.15 -$0.07
Diluted Earnings Per Share -$0.09 -$0.15 -$0.07
COMMON SHARES
Basic Shares Outstanding 38.36M shares 38.00M shares 37.99M shares
Diluted Shares Outstanding 38.36M shares 38.00M shares 37.99M shares

Balance Sheet

Concept 2021 Q1 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.50M $27.20M $41.20M
YoY Change 100.37% -34.78% -6.72%
Cash & Equivalents $54.47M $27.16M $41.25M
Short-Term Investments
Other Short-Term Assets $9.000M $11.40M $6.500M
YoY Change -21.05% 159.09% 35.42%
Inventory $49.01M $54.90M $50.24M
Prepaid Expenses
Receivables $33.17M $35.62M $33.99M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $145.7M $129.0M $132.0M
YoY Change 12.87% -9.59% -7.68%
LONG-TERM ASSETS
Property, Plant & Equipment $29.83M $28.18M $27.51M
YoY Change 5.84% -31.61% -34.42%
Goodwill $201.1M $359.1M $360.1M
YoY Change -44.0% -15.24% -15.64%
Intangibles $186.2M $202.0M $196.3M
YoY Change -7.79% 21.25% 16.37%
Long-Term Investments
YoY Change
Other Assets $19.44M $13.68M $8.976M
YoY Change 42.09% 279.06% 158.08%
Total Long-Term Assets $436.6M $602.9M $592.9M
YoY Change -27.59% -5.06% -7.5%
TOTAL ASSETS
Total Short-Term Assets $145.7M $129.0M $132.0M
Total Long-Term Assets $436.6M $602.9M $592.9M
Total Assets $582.2M $732.0M $724.9M
YoY Change -20.45% -5.89% -7.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.07M $18.30M $17.97M
YoY Change -6.76% -0.75% -7.5%
Accrued Expenses $30.76M $27.45M $28.48M
YoY Change 12.08% 25.15% 33.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $50.26M $48.71M $57.01M
YoY Change 3.17% -8.6% 14.69%
LONG-TERM LIABILITIES
Long-Term Debt $30.00M $14.30M $0.00
YoY Change 109.79% -88.73% -100.0%
Other Long-Term Liabilities $9.320M $8.015M $3.492M
YoY Change 16.28% 51.34% -33.12%
Total Long-Term Liabilities $9.320M $8.015M $3.492M
YoY Change 16.28% -93.93% -97.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.26M $48.71M $57.01M
Total Long-Term Liabilities $9.320M $8.015M $3.492M
Total Liabilities $127.3M $121.5M $111.1M
YoY Change 4.79% -45.7% -52.62%
SHAREHOLDERS EQUITY
Retained Earnings -$112.4M $56.75M $62.46M
YoY Change -298.06% 647.09% 818.5%
Common Stock $571.1M $560.7M $558.3M
YoY Change 1.85% 1.34% 1.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.714M $5.714M $5.714M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 370.0K shares 370.0K shares 370.0K shares
Shareholders Equity $454.9M $610.5M $613.8M
YoY Change
Total Liabilities & Shareholders Equity $582.2M $732.0M $724.9M
YoY Change -20.45% -5.89% -7.54%

Cashflow Statement

Concept 2021 Q1 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income -$3.544M -$5.709M -$2.736M
YoY Change -37.92% -817.21% -227.85%
Depreciation, Depletion And Amortization $6.380M $6.440M $5.900M
YoY Change -0.93% -6.26% -11.81%
Cash From Operating Activities $5.870M -$17.83M $5.930M
YoY Change -132.92% -313.79% -54.24%
INVESTING ACTIVITIES
Capital Expenditures -$1.380M -$1.750M -$2.820M
YoY Change -21.14% 98.86% 281.08%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$10.00M -$45.76M
YoY Change -100.0% -840.74% -4.51%
Cash From Investing Activities -$1.380M -$11.75M -$48.58M
YoY Change -88.26% -2600.0% -0.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.020M 15.56M 0.000
YoY Change -151.54% -254.37% -100.0%
NET CHANGE
Cash From Operating Activities 5.870M -17.83M 5.930M
Cash From Investing Activities -1.380M -11.75M -48.58M
Cash From Financing Activities -8.020M 15.56M 0.000
Net Change In Cash -3.530M -14.02M -42.65M
YoY Change -74.82% 1003.94% -334.34%
FREE CASH FLOW
Cash From Operating Activities $5.870M -$17.83M $5.930M
Capital Expenditures -$1.380M -$1.750M -$2.820M
Free Cash Flow $7.250M -$16.08M $8.750M
YoY Change -145.09% -274.4% -36.13%

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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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1208000 USD
ango Proceeds Outlays Issuance Of Shares Share Based Payment Arrangement Including Option Exercised
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2459000 USD
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-706000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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248000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
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214000 USD
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1864000 USD
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1772000 USD
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ango Contractwith Customer Rightof Return Minimum Remaining Product Life Priorto Return
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P12M
CY2021Q1 us-gaap Revenues
Revenues
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CY2020Q1 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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ContractwithCustomerRightofReturnProductReturnPeriodAfterPurchaseDateRequiringPreApproval
P30D
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0.20
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CY2021Q1 us-gaap Contract With Customer Asset Net
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CY2021Q1 us-gaap Contract With Customer Liability
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us-gaap Contract With Customer Liability Increase Decrease For Contract Acquired In Business Combination
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us-gaap Contract With Customer Liability Revenue Recognized
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CY2021Q1 us-gaap Inventory Work In Process
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CY2021Q1 us-gaap Inventory Finished Goods
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CY2021Q1 us-gaap Inventory Net
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CY2021Q1 us-gaap Inventory Valuation Reserves
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us-gaap Number Of Reporting Units
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CY2020Q4 us-gaap Goodwill Impairment Loss
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CY2021Q1 us-gaap Finite Lived Intangible Assets Net
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CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q1 us-gaap Amortization Of Intangible Assets
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4300000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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13800000 USD
us-gaap Amortization Of Intangible Assets
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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17013000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2021Q1 ango Finite Lived Intangible Asset Expected Amortization After Year Four
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CY2021Q1 us-gaap Finite Lived Intangible Assets Net
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CY2021Q1 us-gaap Restructuring Reserve Current
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CY2021Q1 us-gaap Sales And Excise Tax Payable Current
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CY2021Q1 us-gaap Accrued Professional Fees Current And Noncurrent
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CY2020Q2 us-gaap Accrued Professional Fees Current And Noncurrent
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CY2021Q1 ango Accrued Recall Liability
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CY2021Q1 ango Effective Income Tax Rate Reconciliation Before Discreet Items Percent
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CY2020Q1 ango Effective Income Tax Rate Reconciliation Before Discreet Items Percent
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CY2021Q1 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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P4Y
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3033000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q1 us-gaap Revenues
Revenues
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CY2020Q1 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
214168000 USD
us-gaap Revenues
Revenues
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CY2021Q1 us-gaap Revenues
Revenues
71182000 USD
CY2020Q1 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
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15178000 USD
CY2021Q1 ango Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
183000 USD
CY2021Q1 ango Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Currency Gain Loss From Remeasurement
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCurrencyGainLossFromRemeasurement
1000 USD
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
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CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
15647000 USD
ango Change In Fair Value Of Contingent Consideration
ChangeInFairValueOfContingentConsideration
-290000 USD
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FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCurrencyGainLossFromRemeasurement
5000 USD
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
15362000 USD
CY2021Q1 ango Undiscounted Contingent Consideration Disclosure
UndiscountedContingentConsiderationDisclosure
20000000.0 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9945000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10146000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2363000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2077000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7940000 USD
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8345000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
10303000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
10422000 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M6D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
675000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2733000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2784000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2206000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1451000 USD
CY2021Q1 ango Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1318000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11167000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
864000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
10303000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2363000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7940000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
800000 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
900000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2400000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2500000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
794000 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
925000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2416000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2469000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2020000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1767000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1585000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5595000 USD
CY2021Q1 ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
610000 USD
CY2020Q1 ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
1565000 USD
ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
3057000 USD
ango Acquisition Restructuring And Other Items Net
AcquisitionRestructuringAndOtherItemsNet
4486000 USD

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