2017 Q4 Form 10-Q Financial Statement
#000003406717000049 Filed on October 26, 2017
Income Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
Revenue | $54.49M | $52.16M | $36.55M |
YoY Change | 35.64% | 42.7% | -7.48% |
Cost Of Revenue | $36.60M | $35.00M | $28.10M |
YoY Change | 21.19% | 24.57% | -3.84% |
Gross Profit | $17.85M | $17.16M | $8.457M |
YoY Change | 79.71% | 102.93% | -17.81% |
Gross Profit Margin | 32.75% | 32.9% | 23.14% |
Selling, General & Admin | $12.50M | $10.98M | $9.517M |
YoY Change | 14.68% | 15.38% | -4.24% |
% of Gross Profit | 70.05% | 63.98% | 112.53% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $2.510M | $2.680M | $2.770M |
YoY Change | -8.06% | -3.25% | 8.2% |
% of Gross Profit | 14.07% | 15.62% | 32.75% |
Operating Expenses | $13.60M | $29.61M | $10.90M |
YoY Change | 14.29% | 171.69% | -2.95% |
Operating Profit | $4.245M | -$12.45M | -$2.442M |
YoY Change | -315.48% | 409.79% | 159.51% |
Interest Expense | -$400.0K | $367.0K | $265.0K |
YoY Change | 100.0% | 38.49% | 3.92% |
% of Operating Profit | -9.42% | ||
Other Income/Expense, Net | -$400.0K | -$436.0K | -$157.0K |
YoY Change | -180.0% | 177.71% | -89.27% |
Pretax Income | -$300.0K | -$13.25M | -$2.864M |
YoY Change | -82.35% | 362.71% | 7.71% |
Income Tax | $700.0K | $812.0K | $272.0K |
% Of Pretax Income | |||
Net Earnings | -$1.958M | -$14.06M | -$3.136M |
YoY Change | -10.59% | 348.47% | -25.92% |
Net Earnings / Revenue | -3.59% | -26.96% | -8.58% |
Basic Earnings Per Share | -$0.13 | -$0.98 | -$0.22 |
Diluted Earnings Per Share | -$0.13 | -$0.98 | -$0.22 |
COMMON SHARES | |||
Basic Shares Outstanding | 14.77M shares | 14.37M shares | 14.20M shares |
Diluted Shares Outstanding | 14.37M shares | 14.20M shares |
Balance Sheet
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $9.000M | $8.900M | $7.500M |
YoY Change | 40.63% | 18.67% | -12.79% |
Cash & Equivalents | $8.983M | $8.861M | $7.451M |
Short-Term Investments | |||
Other Short-Term Assets | $5.800M | $5.300M | $6.600M |
YoY Change | 13.73% | -19.7% | -46.34% |
Inventory | $35.74M | $31.49M | $32.87M |
Prepaid Expenses | |||
Receivables | $49.47M | $45.44M | $25.97M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $99.96M | $91.09M | $72.88M |
YoY Change | 36.26% | 24.97% | -24.58% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $59.87M | $59.59M | $59.01M |
YoY Change | 4.79% | 0.98% | -2.28% |
Goodwill | $0.00 | $0.00 | $17.42M |
YoY Change | -100.0% | -100.0% | -41.47% |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $296.0K | $215.0K | $107.0K |
YoY Change | 112.95% | 100.93% | -90.73% |
Total Long-Term Assets | $73.13M | $73.78M | $94.05M |
YoY Change | -18.02% | -21.55% | -16.98% |
TOTAL ASSETS | |||
Total Short-Term Assets | $99.96M | $91.09M | $72.88M |
Total Long-Term Assets | $73.13M | $73.78M | $94.05M |
Total Assets | $173.1M | $164.9M | $166.9M |
YoY Change | 6.48% | -1.24% | -20.48% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $19.83M | $15.79M | $11.79M |
YoY Change | 49.52% | 34.02% | 14.01% |
Accrued Expenses | $6.884M | $4.188M | $5.336M |
YoY Change | 64.97% | -21.51% | 26.48% |
Deferred Revenue | $5.888M | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | |||
Total Short-Term Liabilities | $45.63M | $33.03M | $29.96M |
YoY Change | 48.39% | 10.23% | 20.8% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $17.98M | $22.00M | $14.70M |
YoY Change | 14.55% | 49.66% | -59.17% |
Other Long-Term Liabilities | $3.119M | $2.534M | $2.036M |
YoY Change | 40.56% | 24.46% | 1.55% |
Total Long-Term Liabilities | $21.10M | $2.534M | $2.036M |
YoY Change | 851.01% | 24.46% | 1.55% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $45.63M | $33.03M | $29.96M |
Total Long-Term Liabilities | $21.10M | $2.534M | $2.036M |
Total Liabilities | $67.30M | $58.56M | $48.26M |
YoY Change | 34.21% | 21.36% | -32.67% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $60.07M | $62.33M | $82.59M |
YoY Change | -25.01% | -24.53% | -20.66% |
Common Stock | $741.0K | $740.0K | $724.0K |
YoY Change | 2.21% | 2.21% | 1.97% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $362.0K | $361.0K | $25.00K |
YoY Change | 1348.0% | 1344.0% | |
Treasury Stock Shares | 39.78K shares | 39.78K shares | 2.378K shares |
Shareholders Equity | $105.8M | $106.3M | $118.7M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $173.1M | $164.9M | $166.9M |
YoY Change | 6.48% | -1.24% | -20.48% |
Cashflow Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.958M | -$14.06M | -$3.136M |
YoY Change | -10.59% | 348.47% | -25.92% |
Depreciation, Depletion And Amortization | $2.510M | $2.680M | $2.770M |
YoY Change | -8.06% | -3.25% | 8.2% |
Cash From Operating Activities | $6.230M | $3.650M | $9.400M |
YoY Change | 1630.56% | -61.17% | -656.21% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$2.890M | -$1.130M | -$2.840M |
YoY Change | 75.15% | -60.21% | 21.37% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | -$10.00K |
YoY Change | -100.0% | -100.0% | -106.67% |
Cash From Investing Activities | -$2.880M | -$1.130M | -$2.850M |
YoY Change | 70.41% | -60.35% | 30.14% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -4.160M | -2.370M | -8.560M |
YoY Change | -595.24% | -72.31% | -621.95% |
NET CHANGE | |||
Cash From Operating Activities | 6.230M | 3.650M | 9.400M |
Cash From Investing Activities | -2.880M | -1.130M | -2.850M |
Cash From Financing Activities | -4.160M | -2.370M | -8.560M |
Net Change In Cash | -810.0K | 150.0K | -2.010M |
YoY Change | 65.31% | -107.46% | -10.27% |
FREE CASH FLOW | |||
Cash From Operating Activities | $6.230M | $3.650M | $9.400M |
Capital Expenditures | -$2.890M | -$1.130M | -$2.840M |
Free Cash Flow | $9.120M | $4.780M | $12.24M |
YoY Change | 353.73% | -60.95% | 1783.08% |
Facts In Submission
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---|---|---|---|---|
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|
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|
0.35 | ||
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|
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CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-13252000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-14936000 | USD | |
CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
272000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
321000 | USD | |
CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
812000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1956000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-3166000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1051000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-10480000 | USD | |
us-gaap |
Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
|
97000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-3400000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1221000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
347000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-20000 | USD | |
CY2016Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
3039000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
10747000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1037000 | USD | |
us-gaap |
Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
|
180000 | USD | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2017Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
13383000 | USD |
CY2017Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
0 | shares | |
CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
265000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
826000 | USD | |
CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
367000 | USD |
us-gaap |
Interest Expense
InterestExpense
|
1203000 | USD | |
CY2016Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
12146000 | USD |
CY2017Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
12093000 | USD |
CY2016Q4 | us-gaap |
Inventory Net
InventoryNet
|
28833000 | USD |
CY2017Q3 | us-gaap |
Inventory Net
InventoryNet
|
31489000 | USD |
CY2016Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
10926000 | USD |
CY2016Q4 | us-gaap |
Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
|
344000 | USD |
CY2017Q3 | us-gaap |
Inventory Supplies Net Of Reserves
InventorySuppliesNetOfReserves
|
256000 | USD |
CY2016Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
4226000 | USD |
CY2017Q3 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
2985000 | USD |
CY2016Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
5417000 | USD |
CY2017Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
5757000 | USD |
CY2016Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
0 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2000 | USD | |
CY2017Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
0 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
2000 | USD | |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
50146000 | USD |
CY2017Q3 | us-gaap |
Liabilities
Liabilities
|
58561000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
162555000 | USD |
CY2017Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
164866000 | USD |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
30747000 | USD |
CY2017Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
33029000 | USD |
CY2016Q4 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
16250000 | USD |
CY2017Q3 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
22250000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-12945000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4805000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4008000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3297000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
17839000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
518000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3136000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4316000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14064000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-16892000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3136000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-4316000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-14064000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-16892000 | USD | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
190000 | USD | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | Segment | |
CY2016Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
10899000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
32099000 | USD | |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
29611000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
54317000 | USD | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2442000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3349000 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12449000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12770000 | USD | |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
139000 | USD |
CY2017Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
215000 | USD |
CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
852000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
3599000 | USD | |
CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
2952000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
9730000 | USD | |
CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
2219000 | USD |
CY2017Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
2534000 | USD |
CY2016Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-157000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
178000 | USD | |
CY2017Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-436000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-965000 | USD | |
CY2016Q3 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
0 | USD |
us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
0 | USD | |
CY2017Q3 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
0 | USD |
us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
0 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-31000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
0 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
21000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
336000 | USD | |
us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
164000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
133000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
861000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
880000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4070000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3299000 | USD | |
CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.05 | |
CY2017Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.05 | |
CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
4000000 | shares |
CY2017Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
4000000 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
5148000 | USD |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
154000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-12250000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
6000000 | USD | |
CY2017Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
5293000 | USD |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
31000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
2000 | USD | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
109427000 | USD |
CY2017Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
118752000 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
57133000 | USD |
CY2017Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
59585000 | USD |
us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
3000 | USD | |
us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
0 | USD | |
CY2017Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
0 | USD |
us-gaap |
Restructuring Charges
RestructuringCharges
|
20000 | USD | |
CY2016Q4 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
174000 | USD |
CY2017Q3 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
30000 | USD |
CY2016Q3 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
373000 | USD |
us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
1202000 | USD | |
CY2017Q3 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
0 | USD |
us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
458000 | USD | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
80107000 | USD |
CY2017Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
62330000 | USD |
CY2016Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
36553000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
118402000 | USD | |
CY2017Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
52161000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
138314000 | USD | |
CY2016Q3 | us-gaap |
Selling Expense
SellingExpense
|
3832000 | USD |
us-gaap |
Selling Expense
SellingExpense
|
12352000 | USD | |
CY2017Q3 | us-gaap |
Selling Expense
SellingExpense
|
4446000 | USD |
us-gaap |
Selling Expense
SellingExpense
|
13420000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1599000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2125000 | USD | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
154000 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
112409000 | USD |
CY2017Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
106305000 | USD |
CY2016Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
2378 | shares |
CY2017Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
39783 | shares |
CY2016Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
25000 | USD |
CY2017Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
361000 | USD |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
336000 | USD | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14195921 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14105594 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14368225 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
14333452 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14195921 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14105594 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14368225 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14333452 | shares | |
us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">COMMITMENTS AND CONTINGENCIES</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Contingent Liabilities</font></div><div style="line-height:120%;text-align:justify;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company records an accrual for contingent liabilities when a loss is both probable and reasonably estimable. If some amount within a range of loss appears to be a better estimate than any other amount within the range, that amount is accrued. When no amount within a range of loss appears to be a better estimate than any other amount, the lowest amount in the range is accrued. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Anti-dumping and Countervailing Duties </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2015, U.S. Customs and Border Protection (“U.S. Customs”) sent us a Notice of Action that proposed to classify certain of our imports as subject to anti-dumping duties pursuant to a 2010 anti-dumping duty (“AD”) order on Oil Country Tubular Goods (“OCTG”) from China. A companion countervailing duty (“CVD”) order on the same product is in effect as well. The Notice of Action covered one entry of certain raw material steel mechanical tubing made in China and imported into the U.S. from Canada by our DynaEnergetics segment during 2015 for use in manufacturing perforating guns. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In July 2015, we sent a response to U.S. Customs outlining the reasons our mechanical tubing imports do not fall within the scope of the AD order on OCTG from China and should not be subject to anti-dumping duties. U.S. Customs proposed to take similar action with respect to other entries of this product and requested an approximately </font><font style="font-family:inherit;font-size:10pt;">$1,100</font><font style="font-family:inherit;font-size:10pt;"> cash deposit or bond for AD/CVD duties. </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2015, we posted the bond of approximately </font><font style="font-family:inherit;font-size:10pt;">$1,100</font><font style="font-family:inherit;font-size:10pt;"> to U.S. Customs. Subsequently, U.S. Customs declined to conclude on the Company's assertion that the mechanical tubing the Company has been importing is not within the scope of the AD order on OCTG from China. As a result, on September 25, 2015 the Company filed a request for a scope ruling with the U.S. Department of Commerce ("Commerce Department"). </font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 15, 2016, the Company received the Commerce Department’s scope ruling, which determined certain imports, primarily used for gun carrier tubing, are included in the scope of the AD/CVD orders on OCTG from China and thus are subject to AD/CVD duties.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 11, 2016, the Company filed an appeal with the U.S. Court of International Trade (“CIT”) related to the Commerce Department’s scope ruling. On February 7, 2017, the CIT remanded the scope ruling to the Commerce Department to reconsider its determination. The Commerce Department filed its remand determination with the CIT on June 7, 2017 continuing to find that the Company's imports at issue are within the scope of the AD/CVD orders on OCTG from China. This determination is subject to the CIT's review in the ongoing appeal, which is continuing.</font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On December 27, 2016, we received notice from U.S. Customs that it may pursue penalties against us related to the AD/CVD issue and demanding tender of alleged loss of AD/CVD duties in an amount of </font><font style="font-family:inherit;font-size:10pt;">$3,049</font><font style="font-family:inherit;font-size:10pt;">, which was covered by our reserve. We filed a response to the notice on February 6, 2017 asserting our position that any decision to pursue penalties would be premature in light of the Remand Order and that penalties would not be appropriate under the applicable legal standards. On February 16, 2017, we received notice that U.S. Customs was seeking penalties in the amount of </font><font style="font-family:inherit;font-size:10pt;">$14,783</font><font style="font-family:inherit;font-size:10pt;">. U.S. Customs also reasserted its demand for tender of alleged loss of AD/CVD duties in the amount of </font><font style="font-family:inherit;font-size:10pt;">$3,049</font><font style="font-family:inherit;font-size:10pt;">. We tendered </font><font style="font-family:inherit;font-size:10pt;">$3,049</font><font style="font-family:inherit;font-size:10pt;"> in AD amounts (“Tendered Amounts”) on March 6, 2017 into a suspense account pending ultimate resolution of the AD/CVD case. We believe that this penalty assessment is premature and patently unreasonable in the face of the ongoing CIT appeal and that penalties are not appropriate under applicable legal standards. Further, even if penalties are found to be justified, we believe the amount of penalties asserted by U.S. Customs is unreasonable and subject to challenge on various grounds. We submitted a petition for relief and mitigation of penalties on May 17, 2017 asserting these and other points and seeking a stay of the penalty proceedings pending ultimate resolution of the CIT appeal and any further appeals. We are awaiting a response from U.S. Customs and U.S. Customs Headquarters on this petition. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the </font><font style="font-family:inherit;font-size:10pt;">nine months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">September 30, 2017</font><font style="font-family:inherit;font-size:10pt;">, the Company recorded </font><font style="font-family:inherit;font-size:10pt;">$84</font><font style="font-family:inherit;font-size:10pt;"> of interest on its reserve for AD/CVD duties, bringing the total reserved amount related to AD/CVD duties as of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2017</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">$3,585</font><font style="font-family:inherit;font-size:10pt;">. The Tendered Amounts were applied to reduce the reserve. The Company will continue to incur legal defense costs and could also be subject to additional interest and penalties. Accruals for the potential penalties discussed above are not reflected in our financial statements as of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2017</font><font style="font-family:inherit;font-size:10pt;"> as we do not believe they are probable at this time.</font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Patent and Trademark Infringement </font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On September 22, 2015, GEODynamics, Inc., a US-based oil and gas perforating equipment manufacturer based in Fort Worth, TX, filed a patent and trademark infringement action against DynaEnergetics US, Inc., (“DynaEnergetics”), a wholly owned subsidiary of DMC, in the United States District Court for the Eastern District of Texas (“District Court”) regarding alleged infringement of US Patent No. 9,080,431 granted on July 14, 2015 (the “431 patent”) and a related US trademark for REACTIVE, alleging that DynaEnergetics’ US sales of DPEX</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">TM</sup></font><font style="font-family:inherit;font-size:10pt;"> shaped charges infringe the ‘431 patent and the trademark. The 431 case went to trial in late March 2017, and on March 30, 2017, the jury found in favor of DynaEnergetics on all counts. A bench trial on related matters, including the trademark infringement action occurred on April 20, 2017, and the Court ordered cancellation of GEODynamics' REACTIVE trademark.</font></div><div style="line-height:120%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On July 1, 2016, GEODynamics filed a second patent infringement action against DynaEnergetics in District Court alleging infringement of US Patent No. 8,544,563 (the “563 patent”), also based on DynaEnergetics’ US sales of DPEX shaped charges. DynaEnergetics denies validity and infringement of the 563 patent and plans to vigorously defend against this lawsuit. On September 20, 2016, DynaEnergetics filed an Inter Parties Review (IPR) against the 563 patent at the U.S. Patent Trial and Appeal Board (“PTAB”), requesting invalidation of the 563 patent. On March 17, 2017, DynaEnergetics' IPR request was instituted by the PTAB, and a decision is expected in early 2018. Trial on the 563 patent has been stayed pending resolution of the IPR.</font></div><div style="line-height:120%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On April 28, 2017, GEODynamics filed a third patent infringement action against DynaEnergetics in District Court alleging infringement of U.S. Patent No. 8,220,394 (the “394 patent”), based on DynaEnergetics' sales of its DPEX and HaloFrac® shaped charges. DynaEnergetics denies validity and infringement of the 394 patent and plans to vigorously defend against this lawsuit. On June 9, 2017, DynaEnergetics filed a motion to dismiss for improper venue, or in the alternative to change venue, and the District Court’s decision is pending. On August 28, 2017, DynaEnergetics filed an IPR against the 394 patent at the PTAB, requesting invalidation of the 394 patent.</font></div><div style="line-height:120%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 21, 2017, GEODynamics filed a patent infringement action against DynaEnergetics GmbH & Co. KG and DynaEnergetics Beteiligungs GmbH, both wholly owned subsidiaries of DMC (collectively, “DynaEnergetics EU”), in the Regional Court of Düsseldorf, Germany, alleging infringement of European patent EP 1 671 013 B1 granted on June 29, 2011, a patent related to the 394 patent (the “EP 013 patent”), based on the manufacturing, sale and marketing of DPEX shaped charges in Germany. DynaEnergetics EU denies validity and infringement of the EP 013 patent and plans to vigorously defend against this lawsuit. </font></div><div style="line-height:174%;text-align:left;text-indent:29px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We do not believe that the 563 patent, the 394 patent, the EP 013 patent or infringement claims based on the patents are valid, and we do not believe it is probable that we will incur a material loss on the 563 matter, the 394 matter or the EP 013 matter. However, if it is determined that the patents are valid and that DynaEnergetics or DynaEnergetics EU, as applicable, has infringed them, it is reasonably possible that our financial statements could be materially affected. We are not able to provide a reasonable estimate of the range of loss, and we have not accrued for any such losses. Such an evaluation includes, among other things, a determination of the total number of infringing sales in the United States or infringing products manufactured in Germany, as applicable, what a reasonable royalty, if any, might be under the circumstances; or, alternatively, the scope of damages and the relevant period for which damages would apply, if any.</font></div></div> |