2016 Q4 Form 10-Q Financial Statement

#000111748016000056 Filed on November 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $1.980M $653.0K $2.271M
YoY Change -36.33% -71.25% 91.65%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.650M $5.830M $8.613M
YoY Change -42.11% -32.31% 82.59%
% of Gross Profit
Research & Development $11.71M $12.25M $26.50M
YoY Change -62.92% -53.78% 98.79%
% of Gross Profit
Depreciation & Amortization $280.0K $250.0K $180.0K
YoY Change 27.27% 38.89% 125.0%
% of Gross Profit
Operating Expenses $17.35M $18.07M $35.02M
YoY Change -58.02% -48.39% 94.06%
Operating Profit -$15.37M -$17.42M -$32.75M
YoY Change -59.78% -46.8% 94.23%
Interest Expense $420.0K $400.0K $300.0K
YoY Change 10.53% 33.33% -433.33%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$14.96M -$17.03M -$32.45M
YoY Change -60.47% -47.52% 91.45%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$14.96M -$17.03M -$32.45M
YoY Change -60.48% -47.53% 91.43%
Net Earnings / Revenue -755.4% -2607.2% -1428.84%
Basic Earnings Per Share
Diluted Earnings Per Share -$322.2K -$368.3K -$704.5K
COMMON SHARES
Basic Shares Outstanding 46.32M shares 46.21M shares 46.07M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $232.0M $249.7M $220.8M
YoY Change 5.31% 13.09% 17.2%
Cash & Equivalents $51.46M $49.36M $44.72M
Short-Term Investments $180.6M $200.3M $176.1M
Other Short-Term Assets $841.0K $4.300M $8.200M
YoY Change -1.18% -47.56% 134.29%
Inventory
Prepaid Expenses
Receivables $1.599M $379.0K $525.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $236.5M $254.4M $229.5M
YoY Change 3.33% 10.83% 18.98%
LONG-TERM ASSETS
Property, Plant & Equipment $2.843M $3.048M $2.439M
YoY Change -6.63% 24.97% 121.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $47.40M $39.80M $159.5M
YoY Change -61.77% -75.05%
Other Assets $55.00K $34.00K $75.00K
YoY Change -21.43% -54.67%
Total Long-Term Assets $50.31M $42.88M $162.0M
YoY Change -60.44% -73.53% 14627.27%
TOTAL ASSETS
Total Short-Term Assets $236.5M $254.4M $229.5M
Total Long-Term Assets $50.31M $42.88M $162.0M
Total Assets $286.8M $297.3M $391.5M
YoY Change -19.44% -24.07% 101.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.890M $3.280M $12.92M
YoY Change -62.8% -74.61% 122.74%
Accrued Expenses $6.215M $6.338M $7.782M
YoY Change -36.07% -18.56% 46.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K
YoY Change -92.45%
Total Short-Term Liabilities $10.11M $9.618M $21.08M
YoY Change -49.92% -54.37% 27.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $441.0K $300.0K $221.0K
YoY Change 24.58% 35.75% -55.8%
Total Long-Term Liabilities $441.0K $300.0K $221.0K
YoY Change 24.58% 35.75% -75.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.11M $9.618M $21.08M
Total Long-Term Liabilities $441.0K $300.0K $221.0K
Total Liabilities $10.55M $9.903M $21.30M
YoY Change -48.64% -53.5% 22.4%
SHAREHOLDERS EQUITY
Retained Earnings -$415.8M -$400.8M -$301.6M
YoY Change 22.51% 32.92%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $276.2M $287.4M $370.2M
YoY Change
Total Liabilities & Shareholders Equity $286.8M $297.3M $391.5M
YoY Change -19.44% -24.07% 101.81%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$14.96M -$17.03M -$32.45M
YoY Change -60.48% -47.53% 91.43%
Depreciation, Depletion And Amortization $280.0K $250.0K $180.0K
YoY Change 27.27% 38.89% 125.0%
Cash From Operating Activities -$9.700M -$12.93M -$24.93M
YoY Change -70.53% -48.13% 117.73%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$260.0K -$620.0K
YoY Change -90.24% -58.06% 31.91%
Acquisitions
YoY Change
Other Investing Activities $11.87M $30.08M -$57.49M
YoY Change 17.06% -152.32% 71.77%
Cash From Investing Activities $11.79M $29.82M -$58.11M
YoY Change 26.64% -151.32% 71.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.00K 400.0K -10.00K
YoY Change -103.92% -4100.0% -107.14%
NET CHANGE
Cash From Operating Activities -9.700M -12.93M -24.93M
Cash From Investing Activities 11.79M 29.82M -58.11M
Cash From Financing Activities 20.00K 400.0K -10.00K
Net Change In Cash 2.110M 17.29M -83.05M
YoY Change -108.75% -120.82% 83.54%
FREE CASH FLOW
Cash From Operating Activities -$9.700M -$12.93M -$24.93M
Capital Expenditures -$80.00K -$260.0K -$620.0K
Free Cash Flow -$9.620M -$12.67M -$24.31M
YoY Change -70.03% -47.88% 121.4%

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CY2016Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
200000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
600000 USD
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3186000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
70000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
34000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-1448000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
321000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-98000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
398000 USD
CY2015Q3 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2016Q3 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
212766000 USD
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
50867000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1574000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
763000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
56294000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
13990000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2016Q3 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6071000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4318000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
161880000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
1054000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
440000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
90822000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
147899000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-68000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
1003000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3045000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3048000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26495000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
65867000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12247000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
46942000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-339414000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-400848000 USD
CY2015Q3 us-gaap Revenues
Revenues
2271000 USD
us-gaap Revenues
Revenues
7652000 USD
CY2016Q3 us-gaap Revenues
Revenues
653000 USD
us-gaap Revenues
Revenues
3722000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8882000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12334000 USD
CY2016Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
0 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
0 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
335459000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
287350000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46059112 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43112314 shares
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46236749 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
46211748 shares

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