2018 Q3 Form 10-Q Financial Statement

#000156215118000125 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q4
Revenue $16.82M $17.28M $19.86M
YoY Change 24.55% 15.16% 10.38%
Cost Of Revenue $9.080M $8.664M $10.08M
YoY Change 28.81% 22.65% 23.83%
Gross Profit $7.740M $8.618M $9.781M
YoY Change 19.89% 8.5% -0.77%
Gross Profit Margin 46.02% 49.87% 49.25%
Selling, General & Admin $6.957M $6.625M $6.280M
YoY Change 8.5% 1.3% 6.26%
% of Gross Profit 89.88% 76.87% 64.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.219M $2.250M $2.290M
YoY Change 2.73% 5.63% 8.53%
% of Gross Profit 28.67% 26.11% 23.41%
Operating Expenses $6.957M $6.625M $6.670M
YoY Change 8.5% 1.3% 6.72%
Operating Profit $724.0K $1.739M $3.098M
YoY Change -576.32% 24.04% -12.36%
Interest Expense $333.0K $172.0K -$390.0K
YoY Change 20.65% 265.96% 143.75%
% of Operating Profit 45.99% 9.89% -12.59%
Other Income/Expense, Net $303.0K -$90.00K $140.0K
YoY Change -383.18% -226.76% 0.0%
Pretax Income $1.027M $1.649M $2.850M
YoY Change -496.53% 11.95% -18.8%
Income Tax $261.0K $478.0K $1.000M
% Of Pretax Income 25.41% 28.99% 35.09%
Net Earnings $766.0K $1.171M $4.741M
YoY Change -471.84% 30.4% 152.72%
Net Earnings / Revenue 4.55% 6.78% 23.87%
Basic Earnings Per Share
Diluted Earnings Per Share $32.12K $48.81K $197.5K
COMMON SHARES
Basic Shares Outstanding 23.87M shares 23.98M shares 24.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.84M $26.90M $29.75M
YoY Change -5.94% -18.0% 4.38%
Cash & Equivalents $13.14M $10.71M $9.792M
Short-Term Investments $14.71M $16.18M $19.96M
Other Short-Term Assets $1.530M $1.384M $1.328M
YoY Change 16.0% 65.55% -23.19%
Inventory $77.71M $73.53M $75.46M
Prepaid Expenses
Receivables $7.313M $6.091M $3.981M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $115.0M $108.5M $110.5M
YoY Change 3.71% 2.74% 8.14%
LONG-TERM ASSETS
Property, Plant & Equipment $126.8M $126.6M $129.0M
YoY Change -1.91% 0.14% 4.67%
Goodwill $1.262M $1.262M $1.262M
YoY Change 0.0% 0.0% 0.0%
Intangibles $12.19M $12.51M $13.21M
YoY Change -10.46% -10.66% -10.59%
Long-Term Investments
YoY Change
Other Assets $295.0K $299.0K $245.0K
YoY Change 17.06% 16.34% -2.78%
Total Long-Term Assets $140.3M $140.3M $143.5M
YoY Change -2.7% -0.93% 3.01%
TOTAL ASSETS
Total Short-Term Assets $115.0M $108.5M $110.5M
Total Long-Term Assets $140.3M $140.3M $143.5M
Total Assets $255.3M $248.9M $254.0M
YoY Change 0.09% 0.64% 5.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.295M $2.200M $5.400M
YoY Change -8.81% 100.0% -7.9%
Accrued Expenses $5.307M $3.800M $10.32M
YoY Change 8.31% -20.83% -12.46%
Deferred Revenue $1.415M $593.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.125M $1.125M $1.125M
YoY Change 0.09% -0.18% 77.44%
Total Short-Term Liabilities $15.14M $7.748M $12.04M
YoY Change -5.58% -3.27% -5.88%
LONG-TERM LIABILITIES
Long-Term Debt $22.46M $22.74M $23.31M
YoY Change -4.77% -3.68% 59.1%
Other Long-Term Liabilities $33.00K $0.00 $100.0K
YoY Change -67.0% -100.0% 0.0%
Total Long-Term Liabilities $27.38M $27.66M $28.25M
YoY Change -8.97% -8.03% 33.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.14M $7.748M $12.04M
Total Long-Term Liabilities $27.38M $27.66M $28.25M
Total Liabilities $42.52M $35.41M $40.29M
YoY Change -7.79% -7.03% 18.74%
SHAREHOLDERS EQUITY
Retained Earnings -$64.93M -$64.26M -$64.02M
YoY Change -5.57% -6.26% -8.81%
Common Stock $238.0K $239.0K $240.0K
YoY Change -0.83% -0.42% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $212.8M $213.5M $213.7M
YoY Change
Total Liabilities & Shareholders Equity $255.3M $248.9M $254.0M
YoY Change 0.09% 0.64% 5.18%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q4
OPERATING ACTIVITIES
Net Income $766.0K $1.171M $4.741M
YoY Change -471.84% 30.4% 152.72%
Depreciation, Depletion And Amortization $2.219M $2.250M $2.290M
YoY Change 2.73% 5.63% 8.53%
Cash From Operating Activities $4.542M $4.590M $2.440M
YoY Change 121.56% 21.43% 6.55%
INVESTING ACTIVITIES
Capital Expenditures -$1.918M -$1.380M -$2.020M
YoY Change -63.4% -62.7% -65.7%
Acquisitions
YoY Change
Other Investing Activities $1.521M $1.270M $1.760M
YoY Change -187.41% -229.59% 252.0%
Cash From Investing Activities -$407.0K -$110.0K -$250.0K
YoY Change -94.17% -97.65% -95.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.722M -860.0K -290.0K
YoY Change 5640.0% -108.94% -45.28%
NET CHANGE
Cash From Operating Activities 4.542M 4.590M 2.440M
Cash From Investing Activities -407.0K -110.0K -250.0K
Cash From Financing Activities -1.722M -860.0K -290.0K
Net Change In Cash 2.413M 3.620M 1.900M
YoY Change -148.65% -58.44% -152.2%
FREE CASH FLOW
Cash From Operating Activities $4.542M $4.590M $2.440M
Capital Expenditures -$1.918M -$1.380M -$2.020M
Free Cash Flow $6.460M $5.970M $4.460M
YoY Change -11.39% -20.19% -45.48%

Facts In Submission

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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2688000 USD
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1649000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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463000 USD
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us-gaap Income Tax Expense Benefit
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478000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
137000 USD
us-gaap Income Taxes Paid Net
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0 USD
us-gaap Income Taxes Paid Net
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0 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Receivable
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-176000 USD
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2110000 USD
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166000 USD
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90000 USD
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292000 USD
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-1797000 USD
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-893000 USD
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56000 USD
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5000 USD
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13000 USD
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13214000 USD
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47000 USD
us-gaap Interest Expense
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240000 USD
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172000 USD
us-gaap Interest Expense
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510000 USD
us-gaap Interest Paid
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578000 USD
us-gaap Interest Paid
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690000 USD
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317000 USD
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324000 USD
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us-gaap Inventory Write Down
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131000 USD
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33782000 USD
us-gaap Inventory Write Down
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60000 USD
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600000 USD
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978000 USD
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34080000 USD
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40290000 USD
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35408000 USD
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254009000 USD
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248867000 USD
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12041000 USD
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0 USD
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0 USD
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400000 USD
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1125000 USD
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1125000 USD
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21500000 USD
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18895000 USD
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1140000 USD
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1140000 USD
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1140000 USD
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1140000 USD
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570000 USD
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23305000 USD
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22743000 USD
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390000 USD
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390000 USD
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9097000 USD
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-1320000 USD
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1928000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1126000 USD
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898000 USD
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1647000 USD
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1171000 USD
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326000 USD
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71000 USD
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36000 USD
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NonoperatingIncomeExpense
-90000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-433000 USD
us-gaap Number Of Operating Segments
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2
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OperatingExpenses
6540000 USD
us-gaap Operating Expenses
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13077000 USD
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6625000 USD
us-gaap Operating Expenses
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13380000 USD
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OperatingIncomeLoss
1402000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
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357000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1739000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
896000 USD
us-gaap Operating Income Loss
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2652000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
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141000 USD
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161000 USD
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533000 USD
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1328000 USD
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245000 USD
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299000 USD
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-16000 USD
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-18000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
118000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
276000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
82000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
77000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
568000 USD
us-gaap Payments Of Loan Costs
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66000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
41000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
2750000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
4000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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6737000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2666000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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10000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
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ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
6500000 USD
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7750000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
22000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
31000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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192039000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
191980000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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129018000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
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126555000 USD
us-gaap Repayments Of Long Term Debt
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480000 USD
us-gaap Repayments Of Long Term Debt
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570000 USD
CY2017Q2 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2018Q2 us-gaap Restructuring Charges
RestructuringCharges
160000 USD
us-gaap Restructuring Charges
RestructuringCharges
592000 USD
us-gaap Restructuring Charges
RestructuringCharges
600000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-64018000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2017Q2 us-gaap Sales Revenue Net
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15007000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
29856000 USD
CY2018Q2 us-gaap Sales Revenue Net
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17282000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
30511000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3903000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7852000 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4002000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8051000 USD
CY2017Q4 us-gaap Stockholders Equity
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213719000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
213459000 USD
us-gaap Straight Line Rent
StraightLineRent
12000 USD
us-gaap Straight Line Rent
StraightLineRent
16000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-16000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-18000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23997000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23997000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23972000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
23985000 shares

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