2014 Q4 Form 10-Q Financial Statement

#000114420414068155 Filed on November 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q3
Revenue $3.690M $1.336M
YoY Change 136.54% -23.66%
Cost Of Revenue $3.600M $913.8K
YoY Change 179.07% -36.98%
Gross Profit $90.00K $422.1K
YoY Change -67.86% 40.7%
Gross Profit Margin 2.44% 31.6%
Selling, General & Admin $650.0K $156.4K
YoY Change 51.16% -21.82%
% of Gross Profit 722.22% 37.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $210.0K $191.4K
YoY Change 0.0% 3.59%
% of Gross Profit 233.33% 45.33%
Operating Expenses $650.0K $156.4K
YoY Change 51.16% -21.82%
Operating Profit -$560.0K $265.7K
YoY Change 273.33% 165.75%
Interest Expense -$70.00K $281.8K
YoY Change 16.67% -413.12%
% of Operating Profit 106.04%
Other Income/Expense, Net $180.0K -$281.4K
YoY Change
Pretax Income -$460.0K -$15.68K
YoY Change 119.05% -256.82%
Income Tax $0.00 $9.580K
% Of Pretax Income
Net Earnings -$460.0K -$25.26K
YoY Change 109.09%
Net Earnings / Revenue -12.47% -1.89%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share -$80.42K $0.00
COMMON SHARES
Basic Shares Outstanding 5.719M shares 5.471M shares
Diluted Shares Outstanding 5.471M shares

Balance Sheet

Concept 2014 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.300M $1.080M
YoY Change 27.45% -61.15%
Cash & Equivalents $1.304M $1.075M
Short-Term Investments
Other Short-Term Assets $2.810M $2.620M
YoY Change -8.47% -16.29%
Inventory $5.623M $2.920M
Prepaid Expenses $141.1K
Receivables $8.352M $6.750M
Other Receivables $0.00 $0.00
Total Short-Term Assets $18.84M $13.36M
YoY Change 50.8% -28.52%
LONG-TERM ASSETS
Property, Plant & Equipment $14.04M $27.00M
YoY Change -4.58% 15.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $29.47M $30.11M
YoY Change -2.38% 13.45%
TOTAL ASSETS
Total Short-Term Assets $18.84M $13.36M
Total Long-Term Assets $29.47M $30.11M
Total Assets $48.30M $43.47M
YoY Change 13.19% -3.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.810M $1.300M
YoY Change 433.03% -43.72%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $8.450M $9.100M
YoY Change 23.01% -13.42%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.97M $11.66M
YoY Change 56.98% -25.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $16.97M $11.66M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $16.97M $11.66M
YoY Change 56.98% -25.26%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $9.893M
YoY Change 1.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.33M $31.81M
YoY Change
Total Liabilities & Shareholders Equity $48.30M $43.47M
YoY Change 13.19% -3.89%

Cashflow Statement

Concept 2014 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$460.0K -$25.26K
YoY Change 109.09%
Depreciation, Depletion And Amortization $210.0K $191.4K
YoY Change 0.0% 3.59%
Cash From Operating Activities -$340.0K $130.0K
YoY Change -141.98% -116.67%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K -$20.00K
YoY Change -66.67% -33.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$40.00K -$20.00K
YoY Change -63.64% -33.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 980.0K 20.00K
YoY Change -227.27% -97.47%
NET CHANGE
Cash From Operating Activities -340.0K 130.0K
Cash From Investing Activities -40.00K -20.00K
Cash From Financing Activities 980.0K 20.00K
Net Change In Cash 600.0K 130.0K
YoY Change -957.14% -750.0%
FREE CASH FLOW
Cash From Operating Activities -$340.0K $130.0K
Capital Expenditures -$40.00K -$20.00K
Free Cash Flow -$300.0K $150.0K
YoY Change -132.26% -120.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Use Of Estimates
UseOfEstimates
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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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dei Entity Registrant Name
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NF Energy Saving Corp
dei Entity Central Index Key
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dei Document Type
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Entity Filer Category
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dei Trading Symbol
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="TEXT-ALIGN: justify; WIDTH: 14%"> <div><font style="FONT-SIZE: 10pt"><b>NOTE - 1</b></font></div> </td> <td style="TEXT-ALIGN: justify; WIDTH: 86%"> <div><font style="FONT-SIZE: 10pt"><b>BASIS OF PRESENTATION</b></font></div> </td> </tr> </table> &#160; <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (&#8220;GAAP&#8221;), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">In the opinion of management, the consolidated balance sheet as of December 31, 2013 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended September 30, 2014 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2014 or for any future period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management&#8217;s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 20<font style="FONT-SIZE: 10pt">13.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2014Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1051118 USD
CY2013Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
360464 USD
CY2014Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1024664 USD
CY2013Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
681489 USD
CY2014Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2394882 USD
CY2013Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1605994 USD

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