$CLMB
Climb Global Solutions, Inc.

2014 Q3 Form 10-Q Financial Statement

#000110465914056224 Filed on August 04, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q4
Revenue $90.50M $84.40M $89.85M
YoY Change 28.44% 13.91% 5.16%
Cost Of Revenue $84.30M $78.26M $82.00M
YoY Change 29.3% 14.87% 4.59%
Gross Profit $6.200M $6.139M $7.812M
YoY Change 17.76% 2.92% 11.01%
Gross Profit Margin 6.85% 7.27% 8.69%
Selling, General & Admin $4.300M $3.957M $4.300M
YoY Change 23.56% 3.75% 2.38%
% of Gross Profit 69.35% 64.46% 55.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $50.00K $60.00K
YoY Change 0.0% -37.5% -14.29%
% of Gross Profit 0.97% 0.81% 0.77%
Operating Expenses $4.300M $3.957M $4.300M
YoY Change 23.56% 3.75% 2.38%
Operating Profit $1.900M $2.182M $3.512M
YoY Change 6.44% 1.44% 23.79%
Interest Expense $100.0K $132.0K $100.0K
YoY Change -28.57% -9.59% -50.0%
% of Operating Profit 5.26% 6.05% 2.85%
Other Income/Expense, Net
YoY Change
Pretax Income $2.000M $4.090M $3.700M
YoY Change 4.49% 3.41% 23.33%
Income Tax $600.0K $839.0K $1.200M
% Of Pretax Income 30.0% 20.51% 32.43%
Net Earnings $1.400M $1.500M $2.500M
YoY Change 7.69% 0.0% 38.89%
Net Earnings / Revenue 1.55% 1.78% 2.78%
Basic Earnings Per Share $0.32 $0.56
Diluted Earnings Per Share $297.9K $0.31 $0.55
COMMON SHARES
Basic Shares Outstanding 4.874M shares 4.664M shares 4.667M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.60M $14.70M $19.60M
YoY Change 6.12% 22.5% 38.03%
Cash & Equivalents $15.60M $14.72M $19.61M
Short-Term Investments $0.00
Other Short-Term Assets $1.100M $1.200M $2.300M
YoY Change -42.11% -33.33% 43.75%
Inventory $1.400M $1.221M $1.315M
Prepaid Expenses
Receivables $60.70M $57.59M $60.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $78.90M $74.73M $84.06M
YoY Change 16.58% 8.27% 6.52%
LONG-TERM ASSETS
Property, Plant & Equipment $400.0K $300.0K $324.0K
YoY Change 32.01% -19.35% -13.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $162.0K $159.0K
YoY Change 151.57% 5.88% 123.94%
Total Long-Term Assets $11.50M $11.12M $10.71M
YoY Change 31.7% 16.1% -14.59%
TOTAL ASSETS
Total Short-Term Assets $78.90M $74.73M $84.06M
Total Long-Term Assets $11.50M $11.12M $10.71M
Total Assets $90.40M $85.85M $94.76M
YoY Change 18.31% 9.22% 3.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.00M $45.10M $56.97M
YoY Change 15.71% 2.8% 2.22%
Accrued Expenses $3.600M $2.372M $3.066M
YoY Change 97.04% -2.71% -13.17%
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 $51.60M $47.49M $60.04M
YoY Change 19.14% 2.53% 1.21%
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 $51.60M $47.49M $60.04M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $51.60M $47.50M $60.00M
YoY Change 19.17% 2.59% 1.15%
SHAREHOLDERS EQUITY
Retained Earnings $13.65M $12.70M
YoY Change 31.42% 36.27%
Common Stock $30.54M $28.84M
YoY Change 8.71% 3.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.965M $7.017M
YoY Change -5.38% 30.6%
Treasury Stock Shares 411.0K shares 631.2K shares
Shareholders Equity $38.80M $38.36M $34.72M
YoY Change
Total Liabilities & Shareholders Equity $90.40M $85.85M $94.76M
YoY Change 18.31% 9.22% 3.63%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q4
OPERATING ACTIVITIES
Net Income $1.400M $1.500M $2.500M
YoY Change 7.69% 0.0% 38.89%
Depreciation, Depletion And Amortization $60.00K $50.00K $60.00K
YoY Change 0.0% -37.5% -14.29%
Cash From Operating Activities $1.960M $2.620M $6.000M
YoY Change -45.71% -5340.0% 1968.97%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$50.00K -$80.00K
YoY Change -900.0% -37.5% -27.27%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$80.00K -$50.00K -$80.00K
YoY Change -28.57% -214.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -910.0K 410.0K -1.020M
YoY Change -13.33% -128.67% -15.0%
NET CHANGE
Cash From Operating Activities 1.960M 2.620M 6.000M
Cash From Investing Activities -80.00K -50.00K -80.00K
Cash From Financing Activities -910.0K 410.0K -1.020M
Net Change In Cash 970.0K 2.980M 4.900M
YoY Change -62.11% -292.26% -683.33%
FREE CASH FLOW
Cash From Operating Activities $1.960M $2.620M $6.000M
Capital Expenditures -$80.00K -$50.00K -$80.00K
Free Cash Flow $2.040M $2.670M $6.080M
YoY Change -43.33% 8800.0% 1420.0%

Facts In Submission

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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
548000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2688000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-110000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-130000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1414000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1593000 USD
us-gaap Interest Paid
InterestPaid
10000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1791000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9835000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12021000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1592000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1791000 USD
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
664000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
315000 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<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: 8.5pt;" size="1">&#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>
dei Entity Registrant Name
EntityRegistrantName
Wayside Technology Group, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0000945983
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
4873507 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4893000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2186000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.353 pure
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.361 pure

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