2017 Q1 Form 10-Q Financial Statement

#000100190717000007 Filed on February 13, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $411.0K $520.0K $927.0K
YoY Change 109.69% -43.91% 23075.0%
Cost Of Revenue $161.0K $319.0K $632.0K
YoY Change -54.52% -49.53% 15700.0%
Gross Profit $250.0K $201.0K $295.0K
YoY Change -258.23% -31.86%
Gross Profit Margin 60.83% 38.65% 31.82%
Selling, General & Admin $1.633M $1.636M $1.671M
YoY Change -12.91% -2.09% -16.95%
% of Gross Profit 653.2% 813.93% 566.44%
Research & Development $1.561M $1.254M $1.326M
YoY Change -17.97% -5.43% 34.76%
% of Gross Profit 624.4% 623.88% 449.49%
Depreciation & Amortization $179.0K $173.0K $140.0K
YoY Change 62.73% 23.57% 133.33%
% of Gross Profit 71.6% 86.07% 47.46%
Operating Expenses $3.194M $2.890M $2.997M
YoY Change -15.46% -3.57% 0.03%
Operating Profit -$2.944M -$2.689M -$2.702M
YoY Change -25.2% -0.48% -9.81%
Interest Expense $100.0K $40.00K $90.00K
YoY Change 11.11% -55.56% 350.0%
% of Operating Profit
Other Income/Expense, Net $99.00K $35.00K $94.00K
YoY Change 15.12% -62.77% 291.67%
Pretax Income -$2.845M -$2.654M -$2.608M
YoY Change -26.1% 1.76% -12.25%
Income Tax $2.000K $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.800M -$2.603M -$2.526M
YoY Change -25.17% 3.05% 4.29%
Net Earnings / Revenue -681.27% -500.58% -272.49%
Basic Earnings Per Share
Diluted Earnings Per Share -$694.8K -$631.1K -$611.1K
COMMON SHARES
Basic Shares Outstanding 20.58M shares 21.18M shares 20.70M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.30M $16.10M $20.30M
YoY Change -35.44% -20.69% -52.12%
Cash & Equivalents $4.453M $4.932M $2.145M
Short-Term Investments $10.80M $11.20M $18.20M
Other Short-Term Assets $500.0K $500.0K $500.0K
YoY Change 0.0% 0.0% -50.0%
Inventory $209.0K $307.0K $1.232M
Prepaid Expenses
Receivables $183.0K $751.0K $143.0K
Other Receivables $0.00 $0.00 $6.100M
Total Short-Term Assets $16.11M $17.65M $28.29M
YoY Change -38.16% -37.6% -34.82%
LONG-TERM ASSETS
Property, Plant & Equipment $3.354M $3.289M $3.572M
YoY Change -5.63% -7.92% 197.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.200M $3.200M $5.800M
YoY Change -48.84% -44.83%
Other Assets
YoY Change
Total Long-Term Assets $5.540M $6.537M $9.340M
YoY Change -29.5% -30.01% 27.95%
TOTAL ASSETS
Total Short-Term Assets $16.11M $17.65M $28.29M
Total Long-Term Assets $5.540M $6.537M $9.340M
Total Assets $21.65M $24.19M $37.63M
YoY Change -36.15% -35.72% -25.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $273.0K $191.0K $409.0K
YoY Change -7.77% -53.3% 36.33%
Accrued Expenses $1.643M $1.735M $1.483M
YoY Change 8.31% 16.99% 23.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.918M $1.926M $1.892M
YoY Change 5.79% 1.8% -0.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $282.0K $63.00K $130.0K
YoY Change 149.56% -51.54% 30.0%
Total Long-Term Liabilities $282.0K $63.00K $130.0K
YoY Change 149.56% -51.54% 30.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.918M $1.926M $1.892M
Total Long-Term Liabilities $282.0K $63.00K $130.0K
Total Liabilities $2.200M $1.989M $2.022M
YoY Change 14.23% -1.63% -3.71%
SHAREHOLDERS EQUITY
Retained Earnings -$167.9M -$165.1M -$151.9M
YoY Change 7.89% 8.7%
Common Stock $190.3M $190.2M $189.2M
YoY Change 0.59% 0.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.111M $4.111M $2.789M
YoY Change 47.4% 47.4%
Treasury Stock Shares 1.978M shares 1.978M shares 1.164M shares
Shareholders Equity $19.64M $22.34M $35.48M
YoY Change
Total Liabilities & Shareholders Equity $21.65M $24.19M $37.63M
YoY Change -36.15% -35.72% -25.79%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income -$2.800M -$2.603M -$2.526M
YoY Change -25.17% 3.05% 4.29%
Depreciation, Depletion And Amortization $179.0K $173.0K $140.0K
YoY Change 62.73% 23.57% 133.33%
Cash From Operating Activities -$1.680M -$1.660M -$2.520M
YoY Change -58.92% -34.13% -2.7%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$220.0K -$70.00K
YoY Change 177.78% 214.29% 0.0%
Acquisitions
YoY Change
Other Investing Activities $1.450M $4.240M $3.380M
YoY Change -82.1% 25.44% -109.5%
Cash From Investing Activities $1.200M $4.020M $3.320M
YoY Change -85.0% 21.08% -109.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -970.0K 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -1.680M -1.660M -2.520M
Cash From Investing Activities 1.200M 4.020M 3.320M
Cash From Financing Activities 0.000 -970.0K 0.000
Net Change In Cash -480.0K 1.390M 800.0K
YoY Change -112.21% 73.75% -102.08%
FREE CASH FLOW
Cash From Operating Activities -$1.680M -$1.660M -$2.520M
Capital Expenditures -$250.0K -$220.0K -$70.00K
Free Cash Flow -$1.430M -$1.440M -$2.450M
YoY Change -64.25% -41.22% -2.78%

Facts In Submission

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CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
30523000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
24187000 USD
CY2016Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1800000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1926000 USD
CY2016Q2 us-gaap Long Term Investments
LongTermInvestments
4208000 USD
CY2016Q4 us-gaap Long Term Investments
LongTermInvestments
3248000 USD
CY2016Q2 us-gaap Minority Interest
MinorityInterest
-40000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
-143000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4777000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-2526000 USD
us-gaap Net Income Loss
NetIncomeLoss
-5890000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-2603000 USD
us-gaap Net Income Loss
NetIncomeLoss
-6018000 USD
CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-82000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-171000 USD
CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-51000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-103000 USD
CY2015Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
94000 USD
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
2997000 USD
us-gaap Operating Expenses
OperatingExpenses
6547000 USD
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
2890000 USD
us-gaap Operating Expenses
OperatingExpenses
6730000 USD
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2702000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-6252000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2689000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-6254000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
21000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
8000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
14000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
60000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Writedown Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForWritedownOfSecuritiesNetOfTax
60000 USD
CY2015Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-96000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-190000 USD
CY2016Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-80000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-39000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
96000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
63000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
117000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1283000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
706000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
241000 USD
CY2016Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2500000 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
319000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
479000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
3188000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
3090000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
4314000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3744000 USD
CY2015Q4 us-gaap Profit Loss
ProfitLoss
-2608000 USD
us-gaap Profit Loss
ProfitLoss
-6061000 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
-2654000 USD
us-gaap Profit Loss
ProfitLoss
-6121000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3392000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3289000 USD
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1326000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2590000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1254000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2546000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-159117000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-165135000 USD
CY2015Q4 us-gaap Revenues
Revenues
927000 USD
us-gaap Revenues
Revenues
927000 USD
CY2016Q4 us-gaap Revenues
Revenues
520000 USD
us-gaap Revenues
Revenues
1526000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1671000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3957000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1636000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4184000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
249000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
954000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
8666000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
3.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
220000000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
957750000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1169084000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.18
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.26
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.67
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.32
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
3.20
CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1400000 USD
CY2016Q2 us-gaap Short Term Investments
ShortTermInvestments
17102000 USD
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
11181000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
28667000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
22341000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
28627000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
22198000 USD
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1183642 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1977891 shares
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2828000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
4111000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1283000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0 USD
CY2015Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20701000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20703000 shares
CY2016Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20620000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20626000 shares

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