$ANIK
Anika Therapeutics, Inc.

2015 Q3 Form 10-Q Financial Statement

#000117184315005922 Filed on November 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $23.68M $22.06M
YoY Change 7.37% 24.25%
Cost Of Revenue $5.176M $5.725M
YoY Change -9.59% 6.41%
Gross Profit $18.50M $16.25M
YoY Change 13.85% 31.26%
Gross Profit Margin 78.12% 73.68%
Selling, General & Admin $3.309M $4.045M
YoY Change -18.19% 26.79%
% of Gross Profit 17.89% 24.89%
Research & Development $2.061M $2.000M
YoY Change 3.06% 23.45%
% of Gross Profit 11.14% 12.31%
Depreciation & Amortization $970.0K $1.210M
YoY Change -19.83% -7.63%
% of Gross Profit 5.24% 7.45%
Operating Expenses $5.370M $6.044M
YoY Change -11.16% 25.66%
Operating Profit $13.14M $10.29M
YoY Change 27.7% 35.88%
Interest Expense $34.00K $9.937K
YoY Change 242.16% -133.12%
% of Operating Profit 0.26% 0.1%
Other Income/Expense, Net
YoY Change
Pretax Income $13.17M $10.30M
YoY Change 27.9% 33.2%
Income Tax $4.789M $4.125M
% Of Pretax Income 36.37% 40.07%
Net Earnings $8.380M $6.171M
YoY Change 35.8% 24.42%
Net Earnings / Revenue 35.39% 27.98%
Basic Earnings Per Share $0.56 $0.42
Diluted Earnings Per Share $0.55 $0.40
COMMON SHARES
Basic Shares Outstanding 14.97M 14.76M
Diluted Shares Outstanding 15.32M 15.44M

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.5M $91.80M
YoY Change 42.16% 43.21%
Cash & Equivalents $108.5M $71.77M
Short-Term Investments $22.00M $20.00M
Other Short-Term Assets $2.300M $3.200M
YoY Change -28.13% 10.34%
Inventory $12.08M $13.60M
Prepaid Expenses
Receivables $23.38M $20.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $168.3M $128.7M
YoY Change 30.76% 35.47%
LONG-TERM ASSETS
Property, Plant & Equipment $33.80M $32.00M
YoY Change 5.62% -3.9%
Goodwill $7.713M
YoY Change
Intangibles $12.99M
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets $54.57M $56.80M
YoY Change -3.93% -8.24%
TOTAL ASSETS
Total Short-Term Assets $168.3M $128.7M
Total Long-Term Assets $54.57M $56.80M
Total Assets $222.9M $185.5M
YoY Change 20.14% 18.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.221M $1.200M
YoY Change 85.06% -42.86%
Accrued Expenses $6.548M $5.300M
YoY Change 23.54% 1.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.24M $6.400M
YoY Change 106.95% -38.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $803.6K $1.000M
YoY Change -19.64% -68.75%
Total Long-Term Liabilities $803.6K $1.000M
YoY Change -19.64% -90.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.24M $6.400M
Total Long-Term Liabilities $803.6K $1.000M
Total Liabilities $14.05M $15.80M
YoY Change -11.09% -44.95%
SHAREHOLDERS EQUITY
Retained Earnings $124.6M
YoY Change
Common Stock $81.20M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $199.8M $169.7M
YoY Change
Total Liabilities & Shareholders Equity $222.9M $185.5M
YoY Change 20.14% 18.23%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $8.380M $6.171M
YoY Change 35.8% 24.42%
Depreciation, Depletion And Amortization $970.0K $1.210M
YoY Change -19.83% -7.63%
Cash From Operating Activities $8.910M $7.380M
YoY Change 20.73% -1.99%
INVESTING ACTIVITIES
Capital Expenditures -$900.0K -$240.0K
YoY Change 275.0% 84.62%
Acquisitions
YoY Change
Other Investing Activities -$3.490M -$20.00M
YoY Change -82.55% -7242.86%
Cash From Investing Activities -$4.390M -$20.24M
YoY Change -78.31% -12750.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.00K -50.00K
YoY Change -200.0% -102.31%
NET CHANGE
Cash From Operating Activities 8.910M 7.380M
Cash From Investing Activities -4.390M -20.24M
Cash From Financing Activities 50.00K -50.00K
Net Change In Cash 4.570M -12.91M
YoY Change -135.4% -231.07%
FREE CASH FLOW
Cash From Operating Activities $8.910M $7.380M
Capital Expenditures -$900.0K -$240.0K
Free Cash Flow $9.810M $7.620M
YoY Change 28.74% -0.52%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">1. &nbsp;&nbsp;&nbsp;&nbsp;Nature of Business</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0; background-color: white">Anika Therapeutics,&nbsp;Inc. develops, manufactures, and commercializes therapeutic products for tissue protection, healing, and repair.&nbsp;These products are based on hyaluronic acid (&#x201c;HA&#x201d;), a naturally occurring, biocompatible polymer found throughout the body. Due to its unique biophysical and biochemical properties, HA plays an important role in a number of physiological functions such as the protection and lubrication of soft tissues and joints, the maintenance of the structural integrity of tissues, and the transport of molecules to and within cells.</div> <div style=" font-size: 10pt; margin: 0pt 0; background-color: white; text-indent: 0.5in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0; background-color: white">The Company is subject to risks common to companies in the biotechnology and medical device industries including, but not limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, commercialization of existing and new products, and compliance with U.S. Food and Drug Administration (&#x201c;FDA&#x201d;) and foreign regulations and approval requirements, as well as the ability to grow the Company&#x2019;s business.</div></div>
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