$CLMB
Climb Global Solutions, Inc.

2014 Q1 Form 10-Q Financial Statement

#000110465914033838 Filed on May 02, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $71.73M $89.85M $65.98M
YoY Change 8.71% 5.16% -1.39%
Cost Of Revenue $66.19M $82.00M $60.67M
YoY Change 9.11% 4.59% -1.1%
Gross Profit $5.538M $7.812M $5.313M
YoY Change 4.23% 11.01% -4.56%
Gross Profit Margin 7.72% 8.69% 8.05%
Selling, General & Admin $4.045M $4.300M $3.917M
YoY Change 3.27% 2.38% -1.76%
% of Gross Profit 73.04% 55.04% 73.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.00K $60.00K $74.00K
YoY Change -20.27% -14.29% -8.64%
% of Gross Profit 1.07% 0.77% 1.39%
Operating Expenses $4.045M $4.300M $3.917M
YoY Change 3.27% 2.38% -1.76%
Operating Profit $1.493M $3.512M $1.396M
YoY Change 6.95% 23.79% -11.65%
Interest Expense $123.0K $100.0K $130.0K
YoY Change -5.38% -50.0% 4.84%
% of Operating Profit 8.24% 2.85% 9.31%
Other Income/Expense, Net
YoY Change
Pretax Income $3.513M $3.700M $3.319M
YoY Change 5.85% 23.33% 94.66%
Income Tax $545.0K $1.200M $511.0K
% Of Pretax Income 15.51% 32.43% 15.4%
Net Earnings $1.100M $2.500M $1.000M
YoY Change 10.0% 38.89% 0.0%
Net Earnings / Revenue 1.53% 2.78% 1.52%
Basic Earnings Per Share $0.23 $0.56 $0.23
Diluted Earnings Per Share $0.23 $0.55 $0.22
COMMON SHARES
Basic Shares Outstanding 4.538M shares 4.667M shares 4.477M shares
Diluted Shares Outstanding 4.615M shares 4.602M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.70M $19.60M $13.60M
YoY Change -13.97% 38.03% -8.11%
Cash & Equivalents $11.72M $19.61M $13.59M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $1.400M $2.300M $1.600M
YoY Change -12.5% 43.75% 0.0%
Inventory $1.233M $1.315M $1.629M
Prepaid Expenses
Receivables $57.12M $60.80M $47.97M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $71.50M $84.06M $64.72M
YoY Change 10.47% 6.52% 0.65%
LONG-TERM ASSETS
Property, Plant & Equipment $334.0K $324.0K $374.0K
YoY Change -10.7% -13.6% -6.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $160.0K $159.0K $153.0K
YoY Change 4.58% 123.94% -49.0%
Total Long-Term Assets $10.27M $10.71M $9.005M
YoY Change 14.03% -14.59% -7.16%
TOTAL ASSETS
Total Short-Term Assets $71.50M $84.06M $64.72M
Total Long-Term Assets $10.27M $10.71M $9.005M
Total Assets $81.77M $94.76M $73.73M
YoY Change 10.91% 3.63% -0.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.80M $56.97M $38.98M
YoY Change 9.81% 2.22% -8.29%
Accrued Expenses $3.011M $3.066M $2.712M
YoY Change 11.03% -13.17% 35.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $45.81M $60.04M $41.72M
YoY Change 9.81% 1.21% -6.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $45.81M $60.04M $41.72M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $45.80M $60.00M $41.70M
YoY Change 9.83% 1.15% -6.5%
SHAREHOLDERS EQUITY
Retained Earnings $12.97M $12.70M $9.586M
YoY Change 35.27% 36.27%
Common Stock $29.56M $28.84M $27.88M
YoY Change 6.04% 3.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.484M $7.017M $5.692M
YoY Change 13.91% 30.6%
Treasury Stock Shares 517.7K shares 631.2K shares 545.1K shares
Shareholders Equity $35.96M $34.72M $32.01M
YoY Change
Total Liabilities & Shareholders Equity $81.77M $94.76M $73.73M
YoY Change 10.91% 3.63% -0.37%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income $1.100M $2.500M $1.000M
YoY Change 10.0% 38.89% 0.0%
Depreciation, Depletion And Amortization $59.00K $60.00K $74.00K
YoY Change -20.27% -14.29% -8.64%
Cash From Operating Activities -$7.840M $6.000M $780.0K
YoY Change -1105.13% 1968.97% -34.45%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$80.00K -$70.00K
YoY Change 0.0% -27.27% 16.67%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $4.420M
YoY Change -100.0% -100.0% 703.64%
Cash From Investing Activities -$70.00K -$80.00K $4.350M
YoY Change -101.61% -214.29% 787.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $184.0K $512.0K
YoY Change -64.06% 353.1%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 140.0K -1.020M -1.260M
YoY Change -111.11% -15.0% 36.96%
NET CHANGE
Cash From Operating Activities -7.840M 6.000M 780.0K
Cash From Investing Activities -70.00K -80.00K 4.350M
Cash From Financing Activities 140.0K -1.020M -1.260M
Net Change In Cash -7.770M 4.900M 3.870M
YoY Change -300.78% -683.33% 409.21%
FREE CASH FLOW
Cash From Operating Activities -$7.840M $6.000M $780.0K
Capital Expenditures -$70.00K -$80.00K -$70.00K
Free Cash Flow -$7.770M $6.080M $850.0K
YoY Change -1014.12% 1420.0% -32.0%

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="MARGIN: 0in 0in 0pt;">&#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, 2013.</font></p> </div>
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PaymentsForRepurchaseOfCommonStock
184000 USD
CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
512000 USD
CY2014Q1 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
239000 USD
CY2013Q1 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
32000 USD
CY2013Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
27000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
135000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1257000 USD
CY2014Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-122000 USD
CY2013Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-117000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-7891000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
3756000 USD
CY2014Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
621000 USD
CY2013Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
574000 USD
CY2013Q1 us-gaap Interest Paid
InterestPaid
10000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9835000 USD
CY2014Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
787000 USD
CY2014Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
327000 USD
CY2014Q1 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
239000 USD
CY2014Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
184000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13591000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2000 USD
CY2013Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
82000 USD

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