2019 Q2 Form 10-Q Financial Statement

#000156215119000027 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2019 Q1 2018 Q1
Revenue $16.36M $15.17M $13.23M
YoY Change -5.36% 14.63% -10.91%
Cost Of Revenue $8.445M $8.708M $6.874M
YoY Change -2.53% 26.68% -2.69%
Gross Profit $7.910M $6.457M $6.355M
YoY Change -8.22% 1.61% -18.37%
Gross Profit Margin 48.36% 42.58% 48.04%
Selling, General & Admin $8.034M $7.111M $6.755M
YoY Change 21.27% 5.27% 3.33%
% of Gross Profit 101.57% 110.13% 106.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.271M $1.981M $2.260M
YoY Change 0.93% -12.35% 6.6%
% of Gross Profit 28.71% 30.68% 35.56%
Operating Expenses $8.034M $7.111M $6.755M
YoY Change 21.27% 5.27% 3.33%
Operating Profit -$1.405M -$653.0K -$843.0K
YoY Change -180.79% -22.54% -167.44%
Interest Expense $42.00K $321.0K $338.0K
YoY Change -75.58% -5.03% 75.13%
% of Operating Profit
Other Income/Expense, Net $88.00K -$344.0K -$343.0K
YoY Change -197.78% 0.29% 880.0%
Pretax Income -$1.317M -$997.0K -$1.186M
YoY Change -179.87% -15.94% -197.61%
Income Tax -$439.0K -$292.0K -$341.0K
% Of Pretax Income
Net Earnings -$878.0K -$705.0K -$845.0K
YoY Change -174.98% -16.57% -212.82%
Net Earnings / Revenue -5.37% -4.65% -6.39%
Basic Earnings Per Share
Diluted Earnings Per Share -$37.30K -$29.83K -$35.42K
COMMON SHARES
Basic Shares Outstanding 23.53M shares 23.60M shares 24.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.30M $24.51M $24.53M
YoY Change 1.49% -0.07% 6.19%
Cash & Equivalents $12.53M $7.774M $7.098M
Short-Term Investments $14.76M $16.74M $17.43M
Other Short-Term Assets $2.670M $2.608M $1.937M
YoY Change 92.92% 34.64% 31.32%
Inventory $74.32M $74.51M $74.39M
Prepaid Expenses
Receivables $5.282M $5.394M $4.784M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $111.3M $107.6M $106.3M
YoY Change 2.57% 1.26% 10.95%
LONG-TERM ASSETS
Property, Plant & Equipment $122.3M $125.2M $127.1M
YoY Change -3.33% -1.55% 2.31%
Goodwill $1.262M $1.262M $1.262M
YoY Change 0.0% 0.0% 0.0%
Intangibles $11.46M $11.84M $12.85M
YoY Change -8.43% -7.9% -10.64%
Long-Term Investments
YoY Change
Other Assets $530.0K $592.0K $275.0K
YoY Change 77.26% 115.27% 11.79%
Total Long-Term Assets $135.1M $138.3M $141.3M
YoY Change -3.75% -2.12% 0.96%
TOTAL ASSETS
Total Short-Term Assets $111.3M $107.6M $106.3M
Total Long-Term Assets $135.1M $138.3M $141.3M
Total Assets $246.4M $245.9M $247.5M
YoY Change -1.0% -0.67% 5.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.872M $1.466M $1.400M
YoY Change -14.91% 4.71% -7.96%
Accrued Expenses $5.463M $3.673M $3.600M
YoY Change 43.76% 2.03% 56.79%
Deferred Revenue $544.0K $598.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.126M $1.126M $1.125M
YoY Change 0.09% 0.09% 77.44%
Total Short-Term Liabilities $9.005M $6.863M $6.721M
YoY Change 16.22% 2.11% 4.49%
LONG-TERM LIABILITIES
Long-Term Debt $21.62M $21.90M $23.02M
YoY Change -4.95% -4.89% 58.9%
Other Long-Term Liabilities $0.00 $62.00K $100.0K
YoY Change -38.0% 0.0%
Total Long-Term Liabilities $27.24M $27.58M $27.95M
YoY Change -1.52% -1.34% 33.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.005M $6.863M $6.721M
Total Long-Term Liabilities $27.24M $27.58M $27.95M
Total Liabilities $36.24M $34.44M $34.67M
YoY Change 2.36% -0.67% 26.55%
SHAREHOLDERS EQUITY
Retained Earnings -$67.63M -$66.32M -$64.86M
YoY Change 5.24% 2.25% -6.61%
Common Stock $235.0K $236.0K $240.0K
YoY Change -1.67% -1.67% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $210.1M $211.4M $212.9M
YoY Change
Total Liabilities & Shareholders Equity $246.4M $245.9M $247.5M
YoY Change -1.0% -0.67% 5.02%

Cashflow Statement

Concept 2019 Q2 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$878.0K -$705.0K -$845.0K
YoY Change -174.98% -16.57% -212.82%
Depreciation, Depletion And Amortization $2.271M $1.981M $2.260M
YoY Change 0.93% -12.35% 6.6%
Cash From Operating Activities $4.327M -$1.527M -$3.457M
YoY Change -5.73% -55.83% 87.37%
INVESTING ACTIVITIES
Capital Expenditures -$896.0K $1.197M $1.289M
YoY Change -35.07% -7.14% -57.56%
Acquisitions
YoY Change
Other Investing Activities $2.043M $2.578M $2.510M
YoY Change 60.87% 2.71% -47.16%
Cash From Investing Activities $1.147M $1.381M $1.225M
YoY Change -1142.73% 12.73% -28.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.059M $0.00
YoY Change
Debt Paid & Issued, Net $285.0K $285.0K
YoY Change 0.0% 78.13%
Cash From Financing Activities -714.0K -$1.456M -$462.0K
YoY Change -16.98% 215.15% -10.64%
NET CHANGE
Cash From Operating Activities 4.327M -$1.527M -$3.457M
Cash From Investing Activities 1.147M $1.381M $1.225M
Cash From Financing Activities -714.0K -$1.456M -$462.0K
Net Change In Cash 4.760M -$1.602M -$2.694M
YoY Change 31.49% -40.53% 316.38%
FREE CASH FLOW
Cash From Operating Activities $4.327M -$1.527M -$3.457M
Capital Expenditures -$896.0K $1.197M $1.289M
Free Cash Flow $5.223M -$2.724M -$4.746M
YoY Change -12.51% -42.6% -2.79%

Facts In Submission

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CY2018Q1 us-gaap Net Income Loss
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CY2019Q1 us-gaap Nonoperating Income Expense
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CY2019Q1 us-gaap Number Of Operating Segments
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2
CY2018Q1 us-gaap Operating Expenses
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315000 USD
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0 USD
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253000 USD
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62000 USD
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100000 USD
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262000 USD
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0.0634
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term
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P1Y2M23D
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285000 USD
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1400000 USD
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100000 USD
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CY2018Q1 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Stockholders Equity
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CY2018Q1 us-gaap Unrealized Gain Loss On Investments
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-18000 USD
CY2019Q1 us-gaap Unrealized Gain Loss On Investments
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19000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits
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0 USD
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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23633000 shares
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to prior period unaudited interim condensed consolidated balance sheets and statement of cash flows to conform to current period presentation. The reclassifications had no impact on previously reported net income, equity or cash flows.</font></div></div>

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