2019 Q3 Form 10-Q Financial Statement

#000143774919018371 Filed on September 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $17.02M $13.40M
YoY Change 26.95% 15.07%
Cost Of Revenue $8.819M $8.940M
YoY Change -1.35% 84.94%
Gross Profit $8.197M $4.460M
YoY Change 83.79% -34.56%
Gross Profit Margin 48.17% 33.27%
Selling, General & Admin $3.437M $3.170M
YoY Change 8.42% 19.62%
% of Gross Profit 41.93% 71.08%
Research & Development $397.0K $318.0K
YoY Change 24.84% -20.1%
% of Gross Profit 4.84% 7.13%
Depreciation & Amortization $1.239M $388.0K
YoY Change 219.33% -19.5%
% of Gross Profit 15.12% 8.7%
Operating Expenses $397.0K $318.0K
YoY Change 24.84% -20.1%
Operating Profit $3.521M $901.0K
YoY Change 290.79% 39.47%
Interest Expense $1.097M $70.00K
YoY Change 1467.14% -18.6%
% of Operating Profit 31.16% 7.77%
Other Income/Expense, Net -$568.0K $209.0K
YoY Change -371.77% -343.02%
Pretax Income $2.953M $1.110M
YoY Change 166.04% 98.21%
Income Tax $762.0K $190.0K
% Of Pretax Income 25.8% 17.12%
Net Earnings $2.061M $509.0K
YoY Change 304.91% 113.87%
Net Earnings / Revenue 12.11% 3.8%
Basic Earnings Per Share $0.03 $0.01
Diluted Earnings Per Share $0.03 $0.01
COMMON SHARES
Basic Shares Outstanding 68.27M 64.74M
Diluted Shares Outstanding 68.27M 64.74M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.25M $7.550M
YoY Change 35.75% 27.97%
Cash & Equivalents $10.25M
Short-Term Investments
Other Short-Term Assets $1.746M $1.440M
YoY Change 21.25% 19.01%
Inventory $9.259M $7.510M
Prepaid Expenses
Receivables $5.382M $3.225M
Other Receivables $0.00 $30.00K
Total Short-Term Assets $26.64M $19.75M
YoY Change 34.86% 9.9%
LONG-TERM ASSETS
Property, Plant & Equipment $55.74M $10.10M
YoY Change 451.66% -4.88%
Goodwill
YoY Change
Intangibles $6.163M $6.518M
YoY Change -5.45% 2.37%
Long-Term Investments
YoY Change
Other Assets $4.200M $5.317M
YoY Change -21.01% -16.47%
Total Long-Term Assets $66.10M $5.510M
YoY Change 1099.69% -24.42%
TOTAL ASSETS
Total Short-Term Assets $26.64M $19.75M
Total Long-Term Assets $66.10M $5.510M
Total Assets $92.74M $41.88M
YoY Change 121.42% -0.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.736M $1.927M
YoY Change -9.91% 3.94%
Accrued Expenses $1.508M $1.260M
YoY Change 19.68% 9.57%
Deferred Revenue $2.948M
YoY Change
Short-Term Debt $975.0K $2.610M
YoY Change -62.64% -22.78%
Long-Term Debt Due $1.596M $1.555M
YoY Change 2.64% -25.46%
Total Short-Term Liabilities $11.05M $10.31M
YoY Change 7.15% -2.58%
LONG-TERM LIABILITIES
Long-Term Debt $1.823M $1.389M
YoY Change 31.25% -52.82%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $45.15M $1.389M
YoY Change 3150.61% -52.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.05M $10.31M
Total Long-Term Liabilities $45.15M $1.389M
Total Liabilities $56.20M $11.70M
YoY Change 380.3% -13.51%
SHAREHOLDERS EQUITY
Retained Earnings $15.97M $10.57M
YoY Change 51.14% 6.15%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.430M $957.0K
YoY Change 49.43% 25.26%
Treasury Stock Shares $2.848M $1.479M
Shareholders Equity $30.07M $24.51M
YoY Change
Total Liabilities & Shareholders Equity $92.74M $41.88M
YoY Change 121.42% -0.87%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $2.061M $509.0K
YoY Change 304.91% 113.87%
Depreciation, Depletion And Amortization $1.239M $388.0K
YoY Change 219.33% -19.5%
Cash From Operating Activities $917.0K $1.539M
YoY Change -40.42% 65.13%
INVESTING ACTIVITIES
Capital Expenditures $58.00K $227.0K
YoY Change -74.45% -68.9%
Acquisitions
YoY Change
Other Investing Activities $975.0K
YoY Change
Cash From Investing Activities $917.0K -$227.0K
YoY Change -503.96% -68.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $43.00K $6.000K
YoY Change 616.67%
Debt Paid & Issued, Net $556.0K $401.0K
YoY Change 38.65%
Cash From Financing Activities -599.0K -1.120M
YoY Change -46.52% 62.32%
NET CHANGE
Cash From Operating Activities 917.0K 1.539M
Cash From Investing Activities 917.0K -227.0K
Cash From Financing Activities -599.0K -1.120M
Net Change In Cash 1.235M 192.0K
YoY Change 543.23% -139.34%
FREE CASH FLOW
Cash From Operating Activities $917.0K $1.539M
Capital Expenditures $58.00K $227.0K
Free Cash Flow $859.0K $1.312M
YoY Change -34.53% 549.5%

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CY2018Q3 us-gaap Net Cash Provided By Used In Operating Activities
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1539000
CY2019Q3 us-gaap Net Income Loss
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CY2018Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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130000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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413000
CY2019Q3 us-gaap Nonoperating Income Expense
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CY2018Q3 us-gaap Nonoperating Income Expense
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CY2019Q3 us-gaap Operating Income Loss
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CY2018Q3 us-gaap Operating Income Loss
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CY2019Q3 us-gaap Other Assets Miscellaneous
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CY2019Q3 us-gaap Other Assets Miscellaneous Noncurrent
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CY2019Q2 us-gaap Other Assets Miscellaneous Noncurrent
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CY2019Q3 us-gaap Other Assets Noncurrent
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CY2019Q2 us-gaap Other Assets Noncurrent
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CY2016Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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500000
CY2017Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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468000
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CY2019Q2 us-gaap Other Liabilities Current
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CY2019Q3 us-gaap Payments For Repurchase Of Common Stock
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43000
CY2018Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6000
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
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CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
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227000
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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5
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
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1746000
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
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1646000
CY2019Q3 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
CY2018Q3 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-711000
CY2019Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
975000
CY2018Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2018Q3 us-gaap Profit Loss
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922000
CY2019Q3 us-gaap Profit Loss
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2191000
CY2019Q3 us-gaap Property Plant And Equipment Gross
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73564000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31525000
CY2019Q3 us-gaap Property Plant And Equipment Net
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55740000
CY2019Q2 us-gaap Property Plant And Equipment Net
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14811000
CY2019Q3 us-gaap Repayments Of Long Term Debt
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556000
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401000
CY2019Q3 us-gaap Research And Development Expense
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397000
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318000
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15974000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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17016000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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13404000
CY2019Q3 us-gaap Share Based Compensation
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47000
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2019Q3 us-gaap Stock Repurchase Program Authorized Amount1
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2225000
CY2018Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000
CY2018Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
750000
CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
750000
CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
2225000
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1430000
CY2017Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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465000
CY2018Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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326000
CY2018Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
281000
CY2018Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
525000
CY2018Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
381000
CY2019Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
317000
CY2019Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
94000
CY2019Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
1526000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
30068000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
28003000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
29266000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30182000
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
34344000
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
36539000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.25
CY2017Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.30
CY2018Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.26
CY2018Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.25
CY2018Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.26
CY2018Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.30
CY2019Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.34
CY2019Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.38
CY2019Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.35
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
0.31
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2847872
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2727051
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
130346
CY2017Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
8607
CY2018Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
536058
CY2018Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
178526
CY2018Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
25277
CY2018Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
480805
CY2019Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
186727
CY2019Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
580705
CY2019Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
120821
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2247872
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1387000
CY2018Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6000
CY2019Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
43000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68270565
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64743042
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68270565
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64743042

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