2023 Q3 Form 10-Q Financial Statement
#000110223823000018 Filed on August 10, 2023
Income Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| Revenue | $12.53M | $12.24M |
| YoY Change | 50.57% | 50.56% |
| Cost Of Revenue | $7.400M | $7.031M |
| YoY Change | 57.41% | 84.44% |
| Gross Profit | $5.100M | $5.208M |
| YoY Change | 40.96% | 20.64% |
| Gross Profit Margin | 40.72% | 42.55% |
| Selling, General & Admin | $3.900M | $5.867M |
| YoY Change | -15.46% | 16.13% |
| % of Gross Profit | 76.47% | 112.65% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $3.340M | $3.200M |
| YoY Change | 9.65% | 1.49% |
| % of Gross Profit | 65.49% | 61.44% |
| Operating Expenses | $7.200M | $9.067M |
| YoY Change | 5.79% | 23.36% |
| Operating Profit | -$2.104M | -$3.859M |
| YoY Change | -34.0% | 27.23% |
| Interest Expense | $7.300M | $5.733M |
| YoY Change | -98.44% | -70.16% |
| % of Operating Profit | ||
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $5.200M | $352.0K |
| YoY Change | -98.88% | -98.25% |
| Income Tax | $1.127M | $49.00K |
| % Of Pretax Income | 21.67% | 13.92% |
| Net Earnings | $2.988M | $125.0K |
| YoY Change | -99.01% | -99.23% |
| Net Earnings / Revenue | 23.85% | 1.02% |
| Basic Earnings Per Share | $0.18 | $0.01 |
| Diluted Earnings Per Share | $0.18 | $0.01 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 16.15M shares | 16.15M shares |
| Diluted Shares Outstanding | 16.15M shares | 16.15M shares |
Balance Sheet
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $47.20M | $58.87M |
| YoY Change | -64.03% | 53.96% |
| Cash & Equivalents | $47.20M | $58.87M |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $92.40M | $105.1M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $139.6M | $164.0M |
| YoY Change | -41.46% | 14.85% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $502.0M | $501.3M |
| YoY Change | 85.82% | 76.69% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $144.4M | $147.0M |
| YoY Change | -62.85% | 118.96% |
| Other Assets | $36.10M | $10.94M |
| YoY Change | 101.11% | -43.79% |
| Total Long-Term Assets | $922.7M | $896.8M |
| YoY Change | 1.21% | 51.15% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $139.6M | $164.0M |
| Total Long-Term Assets | $922.7M | $896.8M |
| Total Assets | $1.062B | $1.061B |
| YoY Change | -7.64% | 44.11% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $46.90M | $47.60M |
| YoY Change | -50.85% | 47.51% |
| Accrued Expenses | $2.500M | $2.292M |
| YoY Change | -21.75% | -58.77% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $49.40M | $49.89M |
| YoY Change | -49.9% | 31.89% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $182.4M | $184.4M |
| YoY Change | -36.22% | -41.84% |
| Other Long-Term Liabilities | $9.800M | $9.791M |
| YoY Change | 0.09% | 0.0% |
| Total Long-Term Liabilities | $192.2M | $194.2M |
| YoY Change | -35.02% | -40.58% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $49.40M | $49.89M |
| Total Long-Term Liabilities | $192.2M | $194.2M |
| Total Liabilities | $241.6M | $244.1M |
| YoY Change | -38.75% | -33.07% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $555.5M | $552.5M |
| YoY Change | 9.79% | 171.24% |
| Common Stock | $162.0K | $162.0K |
| YoY Change | 0.0% | 0.0% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $619.6M | $616.6M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.062B | $1.061B |
| YoY Change | -7.64% | 44.11% |
Cashflow Statement
| Concept | 2023 Q3 | 2023 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $2.988M | $125.0K |
| YoY Change | -99.01% | -99.23% |
| Depreciation, Depletion And Amortization | $3.340M | $3.200M |
| YoY Change | 9.65% | 1.49% |
| Cash From Operating Activities | $16.31M | -$9.994M |
| YoY Change | 669.7% | 107.91% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $3.640M | $591.0K |
| YoY Change | 0.83% | -67.7% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $2.840M | $16.03M |
| YoY Change | -97.65% | -43.05% |
| Cash From Investing Activities | -$800.0K | $15.44M |
| YoY Change | -100.66% | -45.15% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -1.970M | -46.16M |
| YoY Change | -93.78% | 4214.39% |
| NET CHANGE | ||
| Cash From Operating Activities | 16.31M | -9.994M |
| Cash From Investing Activities | -800.0K | 15.44M |
| Cash From Financing Activities | -1.970M | -46.16M |
| Net Change In Cash | 13.54M | -40.72M |
| YoY Change | -85.2% | -282.84% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $16.31M | -$9.994M |
| Capital Expenditures | $3.640M | $591.0K |
| Free Cash Flow | $12.67M | -$10.59M |
| YoY Change | -949.77% | 59.48% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
1800614 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
16152043 | shares |
| CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
16152043 | shares |
| CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.01 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16152043 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16152043 | shares | |
| CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16152043 | shares |
| CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16152043 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16152043 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16152043 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16152043 | shares | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.19 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.19 | ||
| CY2023Q2 | us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
188000 | usd |
| CY2023Q2 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.0508 | |
| CY2022Q4 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.0467 | |
| CY2023Q2 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
145861000 | usd |
| CY2022Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
139609000 | usd |
| CY2023Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
184372000 | usd |
| CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
188004000 | usd |
| us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
642000 | usd | |
| us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
1603000 | usd | |
| CY2023Q2 | us-gaap |
Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
|
9791000 | usd |
| CY2022Q4 | us-gaap |
Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
|
9791000 | usd |
| CY2023Q2 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
49000 | usd |
| CY2022Q2 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
40000 | usd |
| us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
1289000 | usd | |
| us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
68000 | usd | |
| CY2023Q2 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | usd |
| CY2022Q2 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | usd |
| us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | usd | |
| us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
0 | usd | |
| CY2023Q2 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
49000 | usd |
| CY2022Q2 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
40000 | usd |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
1289000 | usd | |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
68000 | usd |
