2019 Q3 Form 10-Q Financial Statement

#000143774919022098 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $5.716M $4.895M
YoY Change 16.77% 18.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.035M $596.0K
YoY Change 73.66% 66.95%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.715M $1.995M
YoY Change -14.04% 69.79%
Income Tax $212.0K $322.0K
% Of Pretax Income 12.36% 16.14%
Net Earnings $1.503M $1.673M
YoY Change -10.16% 80.09%
Net Earnings / Revenue 26.29% 34.18%
Basic Earnings Per Share $0.55 $0.61
Diluted Earnings Per Share $0.55 $0.61
COMMON SHARES
Basic Shares Outstanding 2.735M 2.729M
Diluted Shares Outstanding 2.735M 2.729M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $12.50M $10.79M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $14.54M $13.47M
YoY Change 7.9% 1.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $565.2M $510.8M
YoY Change 10.65% 8.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.700M $3.600M
YoY Change 30.56% 9.09%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $3.754M $2.902M
YoY Change 29.36% -89.6%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.700M $3.600M
YoY Change 30.56% 9.09%
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 $4.700M $3.600M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $512.2M $466.8M
YoY Change 9.72% 9.23%
SHAREHOLDERS EQUITY
Retained Earnings $37.62M $33.66M
YoY Change 11.77% 9.54%
Common Stock $14.70M $14.63M
YoY Change 0.47% -0.01%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.454M $1.515M
YoY Change -4.03% -3.87%
Treasury Stock Shares $108.5K $120.3K
Shareholders Equity $52.99M $43.97M
YoY Change
Total Liabilities & Shareholders Equity $565.2M $510.8M
YoY Change 10.65% 8.3%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $1.503M $1.673M
YoY Change -10.16% 80.09%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $806.0K $533.0K
YoY Change 51.22% 5.96%
INVESTING ACTIVITIES
Capital Expenditures $48.00K $350.0K
YoY Change -86.29% 306.98%
Acquisitions
YoY Change
Other Investing Activities -$6.280M -$4.910M
YoY Change 27.9% -46.04%
Cash From Investing Activities -$6.324M -$5.259M
YoY Change 20.25% -42.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.559M 7.739M
YoY Change 10.6% -40.22%
NET CHANGE
Cash From Operating Activities 806.0K 533.0K
Cash From Investing Activities -6.324M -5.259M
Cash From Financing Activities 8.559M 7.739M
Net Change In Cash 3.041M 3.013M
YoY Change 0.93% -29.39%
FREE CASH FLOW
Cash From Operating Activities $806.0K $533.0K
Capital Expenditures $48.00K $350.0K
Free Cash Flow $758.0K $183.0K
YoY Change 314.21% -56.12%

Facts In Submission

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CY2019Q3 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2019Q3 us-gaap Other Noninterest Expense
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CY2018Q3 us-gaap Payments For Proceeds From Loans And Leases
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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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CY2019Q3 us-gaap Preferred Stock No Par Value
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CY2019Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><div style="display: inline; font-weight: bold;">Reclassifications:</div> Certain items in prior financial statements have been reclassified to conform to the current presentation. Any reclassifications had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on prior year net income or shareholders&#x2019; equity.</div></div></div></div></div>
CY2019Q3 us-gaap Proceeds From Federal Home Loan Bank Borrowings
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1500000
CY2018Q3 us-gaap Proceeds From Federal Home Loan Bank Borrowings
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CY2019Q3 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
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CY2018Q3 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
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CY2019Q3 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2018Q3 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2019Q3 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
4460000
CY2018Q3 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
2573000
CY2019Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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4460000
CY2018Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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2573000
CY2019Q3 us-gaap Property Plant And Equipment Net
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14539000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14155000
CY2019Q3 us-gaap Provision For Loan And Lease Losses
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CY2018Q3 us-gaap Provision For Loan And Lease Losses
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CY2019Q3 us-gaap Provision For Loan Losses Expensed
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CY2018Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
115000
CY2019Q3 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
7900000
CY2018Q3 us-gaap Repayments Of Federal Home Loan Bank Borrowings
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17000
CY2019Q3 us-gaap Restricted Investments
RestrictedInvestments
1723000
CY2019Q2 us-gaap Restricted Investments
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CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
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CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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1160000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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740000
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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582000
CY2018Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
CY2019Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
3754000
CY2019Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
3686000
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
22000
CY2019Q3 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
11813
CY2018Q3 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
4201
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
130000
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
59000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
52993000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
51166000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
43761000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
43970000
CY2019Q3 us-gaap Taxes Other
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95000
CY2018Q3 us-gaap Taxes Other
TaxesOther
89000
CY2019Q3 us-gaap Time Deposits
TimeDeposits
111414000
CY2019Q2 us-gaap Time Deposits
TimeDeposits
112205000
CY2019Q3 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
CY2018Q3 us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
75000
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
108475
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
120288
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1454000
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1543000
CY2019Q3 us-gaap Troubled Debt Restructuring Debtor Subsequent Periods Contingent Payments Amount
TroubledDebtRestructuringDebtorSubsequentPeriodsContingentPaymentsAmount
9000
CY2019Q2 us-gaap Troubled Debt Restructuring Debtor Subsequent Periods Contingent Payments Amount
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9000
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2734578
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2729171
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2734578
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2729103

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