$CVV
CVD EQUIPMENT CORP

2020 Q2 Form 10-Q Financial Statement

#000143774920018035 Filed on August 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $3.719M $4.918M $3.469M
YoY Change -24.38% -23.58% -62.11%
Cost Of Revenue $3.117M $4.425M $3.856M
YoY Change -29.56% -16.8% -28.49%
Gross Profit $601.5K $492.8K -$387.7K
YoY Change 22.05% -55.85% -110.31%
Gross Profit Margin 16.17% 10.02% -11.18%
Selling, General & Admin $1.638M $1.859M $2.013M
YoY Change -11.91% -21.48% -26.88%
% of Gross Profit 272.26% 377.23%
Research & Development $96.11K $176.9K $164.1K
YoY Change -45.68% 38.09% 69.49%
% of Gross Profit 15.98% 35.9%
Depreciation & Amortization $330.0K $270.0K $280.0K
YoY Change 22.22% 0.0% 3.7%
% of Gross Profit 54.86% 54.78%
Operating Expenses $1.734M $2.036M $2.177M
YoY Change -14.85% -18.42% -23.61%
Operating Profit -$1.132M -$1.543M -$2.565M
YoY Change -26.65% 11.86% -381.7%
Interest Expense $114.5K $126.3K $114.7K
YoY Change -9.33% 5.86% -5.52%
% of Operating Profit
Other Income/Expense, Net $107.9K
YoY Change
Pretax Income -$1.133M -$1.627M -$2.633M
YoY Change -30.38% 10.74% -426.6%
Income Tax $1.049K -$234.7K -$456.0K
% Of Pretax Income
Net Earnings -$1.134M -$1.393M -$2.177M
YoY Change -18.55% 4.68% -489.85%
Net Earnings / Revenue -30.5% -28.32% -62.76%
Basic Earnings Per Share -$0.17 -$0.21 -$0.33
Diluted Earnings Per Share -$0.17 -$0.21 -$0.33
COMMON SHARES
Basic Shares Outstanding 6.635M 6.555M 6.539M
Diluted Shares Outstanding 6.635M 6.555M 6.539M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.380M $8.580M $11.25M
YoY Change 9.32% -44.29% -14.32%
Cash & Equivalents $9.375M $8.581M $11.25M
Short-Term Investments
Other Short-Term Assets $452.4K $509.8K $770.7K
YoY Change -11.26% 107.56% 248.98%
Inventory $1.547M $1.883M $1.745M
Prepaid Expenses
Receivables $1.721M $2.066M $2.104M
Other Receivables $1.530M $0.00 $0.00
Total Short-Term Assets $15.56M $14.69M $16.96M
YoY Change 5.93% -44.19% -41.07%
LONG-TERM ASSETS
Property, Plant & Equipment $32.36M $31.32M $30.60M
YoY Change 3.32% 5.38% 3.73%
Goodwill
YoY Change
Intangibles $385.1K $461.1K $465.9K
YoY Change -16.48% -10.0% -13.01%
Long-Term Investments
YoY Change
Other Assets $13.75K $41.75K $41.75K
YoY Change -67.07% 2246.71% 2153.0%
Total Long-Term Assets $32.76M $34.84M $33.67M
YoY Change -5.97% 8.78% 5.68%
TOTAL ASSETS
Total Short-Term Assets $15.56M $14.69M $16.96M
Total Long-Term Assets $32.76M $34.84M $33.67M
Total Assets $48.33M $49.53M $50.63M
YoY Change -2.44% -15.12% -16.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $463.6K $1.150M $779.9K
YoY Change -59.68% -6.31% -29.36%
Accrued Expenses $1.378M $1.731M $1.541M
YoY Change -20.37% -17.83% -39.88%
Deferred Revenue $420.3K $171.0K $693.1K
YoY Change 145.82% -38.78% -54.25%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $680.0K $865.5K $860.9K
YoY Change -21.43% 32.28% 32.3%
Total Short-Term Liabilities $4.249M $4.400M $4.330M
YoY Change -3.42% -19.63% -33.03%
LONG-TERM LIABILITIES
Long-Term Debt $13.45M $11.72M $11.88M
YoY Change 14.82% -5.33% -5.23%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $13.45M $11.72M $11.88M
YoY Change 14.82% -6.84% -6.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.249M $4.400M $4.330M
Total Long-Term Liabilities $13.45M $11.72M $11.88M
Total Liabilities $17.70M $16.12M $16.21M
YoY Change 9.84% -10.72% -15.58%
SHAREHOLDERS EQUITY
Retained Earnings $3.696M $6.609M $8.002M
YoY Change -44.08% -54.76% -49.79%
Common Stock $26.93M $26.59M $26.41M
YoY Change 1.26% 3.48% 3.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.62M $32.52M $33.74M
YoY Change
Total Liabilities & Shareholders Equity $48.33M $49.32M $50.63M
YoY Change -2.01% -15.49% -16.51%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$1.134M -$1.393M -$2.177M
YoY Change -18.55% 4.68% -489.85%
Depreciation, Depletion And Amortization $330.0K $270.0K $280.0K
YoY Change 22.22% 0.0% 3.7%
Cash From Operating Activities $170.0K -$1.520M $416.9K
YoY Change -111.18% -151.88% 1154.81%
INVESTING ACTIVITIES
Capital Expenditures -$440.0K -$990.0K $438.9K
YoY Change -55.56% 115.22% -45.54%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$440.0K -$990.0K -$438.9K
YoY Change -55.56% 94.12% -53.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $164.4K
YoY Change -0.56%
Cash From Financing Activities 2.250M -170.0K -164.4K
YoY Change -1423.53% 13.33% -0.56%
NET CHANGE
Cash From Operating Activities 170.0K -1.520M 416.9K
Cash From Investing Activities -440.0K -990.0K -438.9K
Cash From Financing Activities 2.250M -170.0K -164.4K
Net Change In Cash 1.980M -2.680M -186.4K
YoY Change -173.88% -218.06% -82.68%
FREE CASH FLOW
Cash From Operating Activities $170.0K -$1.520M $416.9K
Capital Expenditures -$440.0K -$990.0K $438.9K
Free Cash Flow $610.0K -$530.0K -$21.96K
YoY Change -215.09% -115.63% -97.16%

Facts In Submission

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2415970
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
80205
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
CY2020Q2 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
108000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
341000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3696103
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3172054
CY2020Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3718884
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4918118
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
9755244
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8395378
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6634746
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6555150
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6630391
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6547035
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
32521108
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
35713326
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6634746
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6555150
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6630391
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6547035
CY2020Q2 us-gaap Selling Expense
SellingExpense
131263
CY2019Q2 us-gaap Selling Expense
SellingExpense
227117
us-gaap Selling Expense
SellingExpense
297040
us-gaap Selling Expense
SellingExpense
504424
us-gaap Share Based Compensation
ShareBasedCompensation
141352
us-gaap Share Based Compensation
ShareBasedCompensation
377457
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
292000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
227930
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
417000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
467930
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
68704
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
178587
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
141352
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
377458
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
30623246
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
29957845
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
31688971
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
33735251

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