$CLMB
Climb Global Solutions, Inc.

2013 Q4 Form 10-Q Financial Statement

#000110465913079031 Filed on October 30, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $89.85M $70.46M $75.53M
YoY Change 5.16% -6.71% 18.5%
Cost Of Revenue $82.00M $65.20M $69.84M
YoY Change 4.59% -6.64% 20.44%
Gross Profit $7.812M $5.265M $5.698M
YoY Change 11.01% -7.6% -1.02%
Gross Profit Margin 8.69% 7.47% 7.54%
Selling, General & Admin $4.300M $3.480M $3.611M
YoY Change 2.38% -3.63% 4.21%
% of Gross Profit 55.04% 66.1% 63.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K $70.00K
YoY Change -14.29% -14.29% -12.5%
% of Gross Profit 0.77% 1.14% 1.23%
Operating Expenses $4.300M $3.480M $3.611M
YoY Change 2.38% -3.63% 4.21%
Operating Profit $3.512M $1.785M $2.087M
YoY Change 23.79% -14.47% -8.94%
Interest Expense $100.0K $140.0K $140.0K
YoY Change -50.0% 0.0% 52.17%
% of Operating Profit 2.85% 7.84% 6.71%
Other Income/Expense, Net
YoY Change
Pretax Income $3.700M $1.914M $2.239M
YoY Change 23.33% -14.52% -6.08%
Income Tax $1.200M $584.0K $887.0K
% Of Pretax Income 32.43% 30.51% 39.62%
Net Earnings $2.500M $1.300M $1.400M
YoY Change 38.89% -7.14% -6.67%
Net Earnings / Revenue 2.78% 1.84% 1.85%
Basic Earnings Per Share $0.56 $0.30 $0.30
Diluted Earnings Per Share $0.55 $0.29 $0.29
COMMON SHARES
Basic Shares Outstanding 4.667M shares 4.442K shares 4.502M shares
Diluted Shares Outstanding 4.551K shares 4.643K shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.60M $14.70M $15.30M
YoY Change 38.03% -3.92% 15.04%
Cash & Equivalents $19.61M $14.74M $10.75M
Short-Term Investments $0.00 $0.00 $4.600M
Other Short-Term Assets $2.300M $1.900M $1.500M
YoY Change 43.75% 26.67% -16.67%
Inventory $1.315M $1.210M $1.509M
Prepaid Expenses
Receivables $60.80M $49.86M $49.05M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $84.06M $67.68M $67.36M
YoY Change 6.52% 0.48% 22.22%
LONG-TERM ASSETS
Property, Plant & Equipment $324.0K $303.0K $333.0K
YoY Change -13.6% -9.01% -34.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $159.0K $159.0K $72.00K
YoY Change 123.94% 120.83% 94.59%
Total Long-Term Assets $10.71M $8.732M $10.79M
YoY Change -14.59% -19.07% 26.99%
TOTAL ASSETS
Total Short-Term Assets $84.06M $67.68M $67.36M
Total Long-Term Assets $10.71M $8.732M $10.79M
Total Assets $94.76M $76.41M $78.15M
YoY Change 3.63% -2.22% 22.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $56.97M $41.48M $43.94M
YoY Change 2.22% -5.58% 33.54%
Accrued Expenses $3.066M $1.827M $2.800M
YoY Change -13.17% -34.75% -9.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $100.0K
YoY Change -100.0% 0.0%
Total Short-Term Liabilities $60.04M $43.31M $46.86M
YoY Change 1.21% -7.57% 30.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.04M $43.31M $46.86M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $60.00M $43.30M $46.86M
YoY Change 1.15% -7.59% 29.8%
SHAREHOLDERS EQUITY
Retained Earnings $12.70M $10.97M $8.265M
YoY Change 36.27% 32.76% 47.99%
Common Stock $28.84M $28.51M $27.48M
YoY Change 3.89% 3.73% 3.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.017M $6.743M $4.994M
YoY Change 30.6% 35.02% 2.09%
Treasury Stock Shares 631.2K shares 617.4K shares 522.7K shares
Shareholders Equity $34.72M $33.10M $31.29M
YoY Change
Total Liabilities & Shareholders Equity $94.76M $76.41M $78.15M
YoY Change 3.63% -2.22% 22.86%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $2.500M $1.300M $1.400M
YoY Change 38.89% -7.14% -6.67%
Depreciation, Depletion And Amortization $60.00K $60.00K $70.00K
YoY Change -14.29% -14.29% -12.5%
Cash From Operating Activities $6.000M $3.610M $3.500M
YoY Change 1968.97% 3.14% 128.76%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K $10.00K -$40.00K
YoY Change -27.27% -125.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $990.0K
YoY Change -100.0% -100.0% -132.78%
Cash From Investing Activities -$80.00K $0.00 $950.0K
YoY Change -214.29% -100.0% -130.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.020M -1.050M -1.050M
YoY Change -15.0% 0.0% -5.41%
NET CHANGE
Cash From Operating Activities 6.000M 3.610M 3.500M
Cash From Investing Activities -80.00K 0.000 950.0K
Cash From Financing Activities -1.020M -1.050M -1.050M
Net Change In Cash 4.900M 2.560M 3.400M
YoY Change -683.33% -24.71% -227.34%
FREE CASH FLOW
Cash From Operating Activities $6.000M $3.610M $3.500M
Capital Expenditures -$80.00K $10.00K -$40.00K
Free Cash Flow $6.080M $3.600M $3.540M
YoY Change 1420.0% 1.69% 119.88%

Facts In Submission

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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">1.</font><font style="FONT-SIZE: 3pt;" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> <font style="FONT-SIZE: 10pt;" size="2">The accompanying unaudited condensed consolidated financial statements of Wayside Technology Group,&#160;Inc. and its subsidiaries (collectively, the &#8220;Company&#8221;), have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220; U.S. GAAP&#8221;) for interim financial information and with the instructions to Form&#160;10-Q and Rule&#160;8-03 of Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP for complete audited financial statements.</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center">&#160;</p> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The preparation of these condensed consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates, including those related to product returns, bad debts, inventories, investments, intangible assets, income taxes, stock-based compensation, and contingencies and litigation. The Company bases its estimates on its historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. In the opinion of the Company&#8217;s management, all adjustments that are of a normal recurring nature, considered necessary for fair presentation, have been included in the accompanying financial statements. The Company&#8217;s actual results may differ from these estimates under different assumptions or conditions. The unaudited condensed consolidated statements of earnings for the interim periods are not necessarily indicative of results for the full year. For further information, refer to the consolidated financial statements and notes thereto included in the Company&#8217;s annual report on Form&#160;10-K filed with the Securities Exchange Commission for the year ended December&#160;31, 2012</font></p> </div>
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
11000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-56000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3834000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
197000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
7000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
204000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3890000 USD
CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
255000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
255000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1585000 USD
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
204000 USD
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
206000 USD
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1558000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2233000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
830000 USD
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
125000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1782000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
201000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
21000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
920000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
213000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
233000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
34000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
26000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
157000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
145000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
830000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
743000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-15044000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3267000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-507000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
268000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
311000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-885000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15941000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
923000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
88000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
5575000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
4335000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3085000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
5342000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
6373000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
141000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
105000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
4281000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
693000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2239000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1782000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
641000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
125000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
171000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
55000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
55000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
430000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-3744000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2334000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
36000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
99000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
4908000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
1543000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9202000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10745000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
2476000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
2598000 USD
us-gaap Interest Paid
InterestPaid
10000 USD
wstg Segment Income Loss
SegmentIncomeLoss
10708000 USD
wstg Segment Income Loss
SegmentIncomeLoss
10998000 USD
CY2013Q3 wstg Segment Income Loss
SegmentIncomeLoss
3435000 USD
CY2012Q3 wstg Segment Income Loss
SegmentIncomeLoss
3761000 USD

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