$CVV
CVD EQUIPMENT CORP

2018 Q2 Form 10-Q Financial Statement

#000143774918015586 Filed on August 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $6.435M $10.83M
YoY Change -40.58% 189.27%
Cost Of Revenue $5.319M $6.419M
YoY Change -17.14% 97.54%
Gross Profit $1.116M $4.410M
YoY Change -74.69% 792.37%
Gross Profit Margin 17.35% 40.73%
Selling, General & Admin $2.368M $2.469M
YoY Change -4.09% 21.55%
% of Gross Profit 212.12% 55.97%
Research & Development $128.1K $111.0K
YoY Change 15.46% 53.14%
% of Gross Profit 11.48% 2.52%
Depreciation & Amortization $270.0K $210.0K
YoY Change 28.57% 0.0%
% of Gross Profit 24.19% 4.76%
Operating Expenses $2.496M $2.580M
YoY Change -3.25% 74.95%
Operating Profit -$1.380M $1.831M
YoY Change -175.36% -286.76%
Interest Expense $119.3K $17.61K
YoY Change 577.45% -21.61%
% of Operating Profit 0.96%
Other Income/Expense, Net -$89.97K -$129.00
YoY Change 69640.31% -99.18%
Pretax Income -$1.470M $1.831M
YoY Change -180.26% -283.84%
Income Tax -$139.1K $573.8K
% Of Pretax Income 31.34%
Net Earnings -$1.331M $1.257M
YoY Change -205.86% -353.61%
Net Earnings / Revenue -20.68% 11.61%
Basic Earnings Per Share -$0.21 $0.20
Diluted Earnings Per Share -$0.21 $0.20
COMMON SHARES
Basic Shares Outstanding 6.486M 6.370M
Diluted Shares Outstanding 6.486M 6.405M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.40M $21.48M
YoY Change -28.31% 52.99%
Cash & Equivalents $15.40M $21.48M
Short-Term Investments
Other Short-Term Assets $245.6K $344.0K
YoY Change -28.6% 1118.26%
Inventory $2.648M $3.102M
Prepaid Expenses
Receivables $2.722M $1.852M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.33M $29.80M
YoY Change -11.66% 4.19%
LONG-TERM ASSETS
Property, Plant & Equipment $29.72M $14.28M
YoY Change 108.12% -1.24%
Goodwill
YoY Change
Intangibles $512.3K $240.3K
YoY Change 113.19% 373.72%
Long-Term Investments
YoY Change
Other Assets $1.779K $271.7K
YoY Change -99.35% 261.38%
Total Long-Term Assets $32.03M $16.74M
YoY Change 91.3% 2.11%
TOTAL ASSETS
Total Short-Term Assets $26.33M $29.80M
Total Long-Term Assets $32.03M $16.74M
Total Assets $58.36M $46.55M
YoY Change 25.38% 3.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.227M $1.173M
YoY Change 4.59% 236.92%
Accrued Expenses $2.106M $2.122M
YoY Change -0.74% -22.75%
Deferred Revenue $279.3K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $654.3K $300.0K
YoY Change 118.09% -18.92%
Total Short-Term Liabilities $5.474M $6.678M
YoY Change -18.03% -23.1%
LONG-TERM LIABILITIES
Long-Term Debt $12.38M $2.816M
YoY Change 339.57% -9.63%
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $12.58M $2.816M
YoY Change 346.68% -9.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.474M $6.678M
Total Long-Term Liabilities $12.58M $2.816M
Total Liabilities $18.05M $9.494M
YoY Change 90.13% -19.55%
SHAREHOLDERS EQUITY
Retained Earnings $14.61M $12.40M
YoY Change 17.81% 31.43%
Common Stock $25.70M $24.65M
YoY Change 4.24% 3.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $40.31M $37.05M
YoY Change
Total Liabilities & Shareholders Equity $58.36M $46.55M
YoY Change 25.37% 3.44%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$1.331M $1.257M
YoY Change -205.86% -353.61%
Depreciation, Depletion And Amortization $270.0K $210.0K
YoY Change 28.57% 0.0%
Cash From Operating Activities $2.930M $3.310M
YoY Change -11.48% 171.31%
INVESTING ACTIVITIES
Capital Expenditures -$460.0K -$170.0K
YoY Change 170.59%
Acquisitions
YoY Change
Other Investing Activities -$40.00K $10.00K
YoY Change -500.0% -95.0%
Cash From Investing Activities -$510.0K -$150.0K
YoY Change 240.0% -175.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -150.0K -50.00K
YoY Change 200.0% -117.86%
NET CHANGE
Cash From Operating Activities 2.930M 3.310M
Cash From Investing Activities -510.0K -150.0K
Cash From Financing Activities -150.0K -50.00K
Net Change In Cash 2.270M 3.110M
YoY Change -27.01% 82.94%
FREE CASH FLOW
Cash From Operating Activities $2.930M $3.310M
Capital Expenditures -$460.0K -$170.0K
Free Cash Flow $3.390M $3.480M
YoY Change -2.59% 185.25%

Facts In Submission

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NetCashProvidedByUsedInFinancingActivities
-329430
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-127880
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1451646
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-448142
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2966656
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-1330526
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
1256875
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-89965
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-129
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-194359
us-gaap Operating Expenses
OperatingExpenses
5346177
us-gaap Operating Expenses
OperatingExpenses
5034013
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1379613
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1830787
us-gaap Operating Income Loss
OperatingIncomeLoss
-469045
us-gaap Operating Income Loss
OperatingIncomeLoss
3547576
CY2018Q2 us-gaap Other Assets Current
OtherAssetsCurrent
245624
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
167425
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1779
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4477
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
439
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
177789
us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-3245
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1273857
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
451387
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
22120
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
188
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2817
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
329430
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
150000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
128117
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
110965
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
224923
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
181300
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
14607611
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
15379733
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
15589111
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
20480326
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6435278
CY2017Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
10829709
CY2018Q2 us-gaap Selling Expense
SellingExpense
399249
CY2017Q2 us-gaap Selling Expense
SellingExpense
352909
us-gaap Selling Expense
SellingExpense
912724
us-gaap Selling Expense
SellingExpense
638325
us-gaap Share Based Compensation
ShareBasedCompensation
424015
us-gaap Share Based Compensation
ShareBasedCompensation
435536
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
227930
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
146930
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
387930
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
381930
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
40305529
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
40653636
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
34517
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
33205
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6486067
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6404761
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6476712
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6342513
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6486067
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6370244
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6476712
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6309308

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