2014 Q4 Form 10-Q Financial Statement

#000084071514000037 Filed on October 31, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $15.35M $15.74M $12.37M
YoY Change 7.87% 27.28% 6.85%
Cost Of Revenue $5.430M $6.099M $4.921M
YoY Change -4.4% 23.94% 1.34%
Gross Profit $9.920M $9.640M $7.445M
YoY Change 16.02% 29.48% 10.84%
Gross Profit Margin 64.63% 61.25% 60.21%
Selling, General & Admin $4.670M $4.362M $3.625M
YoY Change 13.9% 20.33% 10.15%
% of Gross Profit 47.08% 45.25% 48.69%
Research & Development $2.080M $2.314M $1.788M
YoY Change 0.48% 29.42% -8.73%
% of Gross Profit 20.97% 24.0% 24.02%
Depreciation & Amortization $540.0K $560.0K $340.0K
YoY Change 22.73% 64.71% 30.77%
% of Gross Profit 5.44% 5.81% 4.57%
Operating Expenses $6.750M $6.676M $5.141M
YoY Change 9.4% 29.86% -2.08%
Operating Profit $3.170M $2.964M $2.304M
YoY Change 33.19% 28.65% 57.06%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $40.00K $70.00K $90.00K
YoY Change 33.33% -22.22% 200.0%
Pretax Income $3.080M $3.034M $2.389M
YoY Change 10.79% 27.0% 59.69%
Income Tax $550.0K $1.440M -$726.0K
% Of Pretax Income 17.86% 47.46% -30.39%
Net Earnings $2.530M $1.594M $1.663M
YoY Change 45.4% -4.15% 65.64%
Net Earnings / Revenue 16.48% 10.13% 13.45%
Basic Earnings Per Share $0.17 $0.18
Diluted Earnings Per Share $266.9K $0.17 $0.18
COMMON SHARES
Basic Shares Outstanding 9.143M shares 9.199M shares 9.028M shares
Diluted Shares Outstanding 9.608M shares 9.407M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.43M $14.68M $20.21M
YoY Change -29.23% -27.36% 41.03%
Cash & Equivalents $7.440M $8.892M $18.19M
Short-Term Investments $6.990M $5.790M $2.020M
Other Short-Term Assets $2.143M $3.270M $1.673M
YoY Change -20.42% 95.46% 15.54%
Inventory $12.77M $13.28M $12.44M
Prepaid Expenses
Receivables $9.916M $9.658M $8.442M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $40.96M $44.26M $45.91M
YoY Change -14.79% -3.59% 19.36%
LONG-TERM ASSETS
Property, Plant & Equipment $2.039M $2.106M $2.006M
YoY Change 11.73% 4.99% 1.83%
Goodwill $12.72M $12.60M $3.472M
YoY Change 266.47% 262.79% 79.06%
Intangibles $7.896M $8.767M $3.854M
YoY Change 112.83% 127.48% -31.62%
Long-Term Investments $19.16M $19.67M $23.36M
YoY Change -14.2% -15.8%
Other Assets $117.0K $114.0K $77.00K
YoY Change 34.48% 48.05% 20.31%
Total Long-Term Assets $47.90M $45.54M $35.08M
YoY Change 45.18% 29.82% 191.34%
TOTAL ASSETS
Total Short-Term Assets $40.96M $44.26M $45.91M
Total Long-Term Assets $47.90M $45.54M $35.08M
Total Assets $88.86M $89.81M $81.00M
YoY Change 9.62% 10.88% 60.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.057M $2.852M $3.632M
YoY Change 11.98% -21.48% 157.41%
Accrued Expenses $2.694M $4.452M $2.305M
YoY Change 52.98% 93.15% -10.24%
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 $10.76M $12.28M $10.04M
YoY Change 24.35% 22.33% 33.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.841M $2.395M $2.029M
YoY Change 2.79% 18.04% 195.77%
Total Long-Term Liabilities $1.841M $2.395M $2.029M
YoY Change 2.79% 18.04% 195.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.76M $12.28M $10.04M
Total Long-Term Liabilities $1.841M $2.395M $2.029M
Total Liabilities $12.84M $14.94M $12.40M
YoY Change 19.75% 20.47% 41.0%
SHAREHOLDERS EQUITY
Retained Earnings $31.08M $30.14M $29.67M
YoY Change 7.19% 1.58% 1827.68%
Common Stock $44.95M $44.65M $38.96M
YoY Change 8.78% 14.6% -3.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.02M $74.87M $68.60M
YoY Change
Total Liabilities & Shareholders Equity $88.86M $89.81M $81.00M
YoY Change 9.62% 10.88% 60.37%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $2.530M $1.594M $1.663M
YoY Change 45.4% -4.15% 65.64%
Depreciation, Depletion And Amortization $540.0K $560.0K $340.0K
YoY Change 22.73% 64.71% 30.77%
Cash From Operating Activities $900.0K $2.990M $3.050M
YoY Change -314.29% -1.97% -24.5%
INVESTING ACTIVITIES
Capital Expenditures -$140.0K -$130.0K -$260.0K
YoY Change -56.25% -50.0% 333.33%
Acquisitions
YoY Change
Other Investing Activities -$750.0K $460.0K -$16.11M
YoY Change 733.33% -102.86%
Cash From Investing Activities -$900.0K $330.0K -$16.38M
YoY Change 119.51% -102.01% 27200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.430M -720.0K -870.0K
YoY Change 793.75% -17.24% 1142.86%
NET CHANGE
Cash From Operating Activities 900.0K 2.990M 3.050M
Cash From Investing Activities -900.0K 330.0K -16.38M
Cash From Financing Activities -1.430M -720.0K -870.0K
Net Change In Cash -1.430M 2.600M -14.20M
YoY Change 44.44% -118.31% -463.17%
FREE CASH FLOW
Cash From Operating Activities $900.0K $2.990M $3.050M
Capital Expenditures -$140.0K -$130.0K -$260.0K
Free Cash Flow $1.040M $3.120M $3.310M
YoY Change -1140.0% -5.74% -19.27%

Facts In Submission

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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000840715
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
CLEARONE INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

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