2013 Q4 Form 10-K Financial Statement

#000147490315000016 Filed on March 02, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $43.80M $47.87M $35.24M
YoY Change 109.35% 132.02% 88.12%
Cost Of Revenue $35.30M $38.76M $28.59M
YoY Change 109.25% 137.91% 92.5%
Gross Profit $8.435M $9.110M $6.650M
YoY Change 108.26% 109.43% 71.38%
Gross Profit Margin 19.26% 19.03% 18.87%
Selling, General & Admin $5.610M $5.319M $4.456M
YoY Change 92.12% 107.78% 73.39%
% of Gross Profit 66.51% 58.39% 67.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.510M $33.27K $28.21K
YoY Change 11.03% -97.85% -96.38%
% of Gross Profit 17.9% 0.37% 0.42%
Operating Expenses $7.130M $5.319M $4.456M
YoY Change 66.98% 29.42% 33.02%
Operating Profit $1.305M $2.572M $1.084M
YoY Change -693.02% 971.72% 104.51%
Interest Expense -$1.660M -$1.130M -$840.0K
YoY Change 196.43% 113.21% 52.73%
% of Operating Profit -127.24% -43.93% -77.5%
Other Income/Expense, Net
YoY Change
Pretax Income -$290.3K $1.441M $243.6K
YoY Change -63.25% -580.34% -1318.24%
Income Tax -$7.490M $23.14K -$1.782K
% Of Pretax Income 1.61% -0.73%
Net Earnings $7.202M $1.418M $245.4K
YoY Change -1011.59% -557.38% -918.1%
Net Earnings / Revenue 16.44% 2.96% 0.7%
Basic Earnings Per Share $1.32 $0.00 $0.00
Diluted Earnings Per Share $1.26 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 5.440M shares 0.000 shares 0.000 shares
Diluted Shares Outstanding 5.721M shares 0.000 shares 0.000 shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00 $0.00 $0.00
Short-Term Investments
Other Short-Term Assets $436.8K $1.900M $1.600M
YoY Change 106.31%
Inventory
Prepaid Expenses $1.466M
Receivables $23.35M $25.00M $22.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $25.25M $26.90M $23.60M
YoY Change 88.57%
LONG-TERM ASSETS
Property, Plant & Equipment $523.4K $500.0K $500.0K
YoY Change 82.41%
Goodwill $5.854M
YoY Change 20.45%
Intangibles $18.18M
YoY Change -0.26%
Long-Term Investments
YoY Change
Other Assets $32.85M $1.700M $1.600M
YoY Change 39.99%
Total Long-Term Assets $33.37M $27.30M $28.30M
YoY Change 40.5%
TOTAL ASSETS
Total Short-Term Assets $25.25M $26.90M $23.60M
Total Long-Term Assets $33.37M $27.30M $28.30M
Total Assets $58.62M $54.20M $51.90M
YoY Change 57.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.933M $5.600M $4.100M
YoY Change -13.94%
Accrued Expenses $7.123M $6.800M $8.200M
YoY Change 111.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.378M $2.400M $2.400M
YoY Change 0.0%
Total Short-Term Liabilities $16.86M $17.90M $17.70M
YoY Change 41.46%
LONG-TERM LIABILITIES
Long-Term Debt $2.378M $29.60M $28.90M
YoY Change -50.0%
Other Long-Term Liabilities $3.654M $3.800M $3.900M
YoY Change 9.75%
Total Long-Term Liabilities $6.033M $33.40M $32.80M
YoY Change -25.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.86M $17.90M $17.70M
Total Long-Term Liabilities $6.033M $33.40M $32.80M
Total Liabilities $50.52M $51.40M $50.60M
YoY Change 42.47%
SHAREHOLDERS EQUITY
Retained Earnings $6.981M
YoY Change
Common Stock $55.99K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.103M $2.800M $1.300M
YoY Change
Total Liabilities & Shareholders Equity $58.62M $54.20M $51.90M
YoY Change 57.83%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $7.202M $1.418M $245.4K
YoY Change -1011.59% -557.38% -918.1%
Depreciation, Depletion And Amortization $1.510M $33.27K $28.21K
YoY Change 11.03% -97.85% -96.38%
Cash From Operating Activities $1.590M -$190.0K $1.120M
YoY Change -15.43% -122.62% -633.33%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$60.00K -$40.00K
YoY Change 75.0% 200.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$440.0K $0.00 -$9.110M
YoY Change -95.82% -100.0% 30266.67%
Cash From Investing Activities -$500.0K -$70.00K -$9.150M
YoY Change -95.27% -75.86% 12971.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.090M 260.0K 8.030M
YoY Change -112.53% -148.15% 2874.07%
NET CHANGE
Cash From Operating Activities 1.590M -190.0K 1.120M
Cash From Investing Activities -500.0K -70.00K -9.150M
Cash From Financing Activities -1.090M 260.0K 8.030M
Net Change In Cash 0.000 -0.0000000004948 0.000000002794
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities $1.590M -$190.0K $1.120M
Capital Expenditures -$70.00K -$60.00K -$40.00K
Free Cash Flow $1.660M -$130.0K $1.160M
YoY Change -13.54% -115.12% -782.35%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Fiscal Year</font></div><div style="line-height:120%;text-align:justify;text-indent:66px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has a 52/53 week fiscal year. Fiscal years for the consolidated financial statements included herein are for the 52 weeks ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;28, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;29, 2013</font><font style="font-family:inherit;font-size:10pt;"></font></div></div>
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CY2014 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the 2013 financial statements to conform with the 2014 presentation.</font></div></div>
CY2014 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Management Estimates</font></div><div style="line-height:120%;text-align:justify;text-indent:66px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

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