2014 Q4 Form 10-Q Financial Statement

#000114420414068739 Filed on November 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $1.066M $1.042M $949.5K
YoY Change -1.83% -0.74% -23.43%
Cost Of Revenue $1.104M $1.097M $1.090M
YoY Change -1.41% -2.69% -0.91%
Gross Profit -$37.96K -$54.80K -$136.2K
YoY Change 11.97% -29.11% -197.26%
Gross Profit Margin -3.56% -5.26% -14.34%
Selling, General & Admin $841.7K $929.7K $990.0K
YoY Change 0.15% -7.97% 1.02%
% of Gross Profit
Research & Development $140.6K $176.6K $200.0K
YoY Change -17.29% 20.15% 11.11%
% of Gross Profit
Depreciation & Amortization $135.2K $170.0K $180.0K
YoY Change -24.9% -10.54% -5.26%
% of Gross Profit
Operating Expenses $982.4K $1.106M $1.180M
YoY Change -2.78% -4.4% 1.72%
Operating Profit -$1.020M -$1.161M -$1.316M
YoY Change -2.3% -5.95% 29.04%
Interest Expense $0.00 $3.451K -$360.0K
YoY Change -100.0% 365.72% -1300.0%
% of Operating Profit
Other Income/Expense, Net $113.4K $375.2K
YoY Change -3.44% -1131.26%
Pretax Income -$910.0K -$790.0K -$1.680M
YoY Change -2.15% -37.8% 69.7%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$907.0K -$785.9K -$1.678M
YoY Change -2.16% -38.17% 69.48%
Net Earnings / Revenue -85.11% -75.41% -176.7%
Basic Earnings Per Share
Diluted Earnings Per Share -$16.58K -$14.40K -$31.03K
COMMON SHARES
Basic Shares Outstanding 54.87M shares 54.88M shares 54.39M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.38M $12.10M $17.68M
YoY Change 158.05% 129.17% 509.66%
Cash & Equivalents $1.337M $2.075M $7.680M
Short-Term Investments $10.05M $10.03M $10.00M
Other Short-Term Assets $220.0K $250.0K $26.69K
YoY Change 37.5% 19.05% 0.0%
Inventory $411.4K $407.5K $359.7K
Prepaid Expenses
Receivables $797.4K $962.3K $913.0K
Other Receivables $10.98K $5.258K $53.08K
Total Short-Term Assets $12.83M $13.73M $19.21M
YoY Change 116.47% 98.89% 332.41%
LONG-TERM ASSETS
Property, Plant & Equipment $761.4K $855.4K $1.018M
YoY Change -43.58% -43.35% -39.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.10M $10.05M $5.400M
YoY Change
Other Assets $250.9K $258.6K $264.1K
YoY Change -4.49% -4.7% -4.5%
Total Long-Term Assets $11.76M $11.81M $7.334M
YoY Change 419.64% 385.61% 180.83%
TOTAL ASSETS
Total Short-Term Assets $12.83M $13.73M $19.21M
Total Long-Term Assets $11.76M $11.81M $7.334M
Total Assets $24.59M $25.54M $26.55M
YoY Change 200.27% 173.6% 276.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $490.0K $510.0K $570.0K
YoY Change 13.95% -21.54% 32.56%
Accrued Expenses $450.0K $470.0K $580.0K
YoY Change 7.14% 46.88% 61.11%
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 $941.9K $979.1K $1.154M
YoY Change 11.17% 0.94% 45.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.120M $1.140M $1.440M
YoY Change 31.76% 20.0% 60.0%
Total Long-Term Liabilities $1.120M $1.140M $1.440M
YoY Change 31.76% 20.0% 60.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $941.9K $979.1K $1.154M
Total Long-Term Liabilities $1.120M $1.140M $1.440M
Total Liabilities $2.057M $2.115M $2.593M
YoY Change 21.09% 10.16% 53.54%
SHAREHOLDERS EQUITY
Retained Earnings -$59.74M -$58.84M -$58.05M
YoY Change 10.05% 10.26% 11.44%
Common Stock $54.88K $54.88K $54.70K
YoY Change 42.85% 42.85% 58.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.390K $8.390K $8.390K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 13.20K shares 13.20K shares 13.20K shares
Shareholders Equity $22.53M $23.42M $23.96M
YoY Change
Total Liabilities & Shareholders Equity $24.59M $25.54M $26.55M
YoY Change 200.27% 173.6% 276.3%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$907.0K -$785.9K -$1.678M
YoY Change -2.16% -38.17% 69.48%
Depreciation, Depletion And Amortization $135.2K $170.0K $180.0K
YoY Change -24.9% -10.54% -5.26%
Cash From Operating Activities -$620.0K -$1.140M -$990.0K
YoY Change -27.06% 27.8% 25.32%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K $7.453K -$20.00K
YoY Change 100.0% 265.16%
Acquisitions
YoY Change
Other Investing Activities -$70.00K -$4.670M -$15.40M
YoY Change
Cash From Investing Activities -$110.0K -$4.680M -$15.42M
YoY Change 450.0% 100958.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K 220.0K 390.0K
YoY Change 0.0% -93.29% 3800.0%
NET CHANGE
Cash From Operating Activities -620.0K -1.140M -990.0K
Cash From Investing Activities -110.0K -4.680M -15.42M
Cash From Financing Activities -10.00K 220.0K 390.0K
Net Change In Cash -740.0K -5.600M -16.02M
YoY Change -15.91% -334.88% 1953.85%
FREE CASH FLOW
Cash From Operating Activities -$620.0K -$1.140M -$990.0K
Capital Expenditures -$40.00K $7.453K -$20.00K
Free Cash Flow -$580.0K -$1.147M -$970.0K
YoY Change -30.12% 28.34% 22.78%

Facts In Submission

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style=" font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;"> <tr style=" vertical-align: top; text-align: justify;"> <td style=" width: 0in; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td> <td width="24px" style=" text-align: left; border: none; font-family : Times New Roman;"><strong>2.</strong></td> <td style=" text-align: justify; padding-left: 0.25in; font-family : Times New Roman; border-left: none; border-right: none; border-top: none; border-bottom: none;"><strong>New Accounting Pronouncements</strong></td> </tr> </table> </div> <p style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">&#160;</p> <div style=" display: inline; font-size: 13px; font-family : Times New Roman; font-variant: normal; font-weight: normal; font-style: normal; text-decoration: none; color: rgb(0, 0, 0);"> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; background-color: white;"><font style=" background-color: white;">In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, "Revenue from Contracts with Customers" (ASU 2014-09), which supersedes the revenue recognition requirements in FASB Accounting Standards Codification (ASC) Topic 605, "Revenue Recognition". The guidance requires that an entity recognize revenue in a way that depicts the transfer of promised goods or services to customers in the amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods and services. The guidance will be effective for annual reporting periods beginning after December&#160;15, 2016, including interim periods within that reporting period and is to be applied retrospectively, with early application not permitted. The Company is currently evaluating the new standard and its impact on the Company's consolidated financial statements.&#160;&#160;</font></p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; text-indent: 0.5in; background-color: white;">&#160;</p> <p style=" color: rgb(0, 0, 0); font-family : Times New Roman; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; background-color: white;"><font style=" background-color: white;">In August 2014, the FASB issued ASU No. 2014-15&#151;Presentation of Financial Statements&#151;Going Concern.&#160;&#160; The guidance requires an entity's management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable).&#160; If conditions or events exist that raise substantial doubt about an entity's ability to continue as a going concern, the guidance requires disclosure in the financial statements.&#160;&#160; The guidance will be effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.&#160; The Company is currently evaluating the new standard and its impact on the Company's consolidated financial statements.</font></p> </div> </div> </div>
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IsoRay, Inc.
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2014-09-30
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