$CYAN
CYANOTECH CORP

2017 Q2 Form 10-Q Financial Statement

#000143774917014410 Filed on August 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $8.809M $7.322M
YoY Change 20.31% -3.58%
Cost Of Revenue $5.206M $4.501M
YoY Change 15.66% -3.62%
Gross Profit $3.603M $2.821M
YoY Change 27.72% -3.52%
Gross Profit Margin 40.9% 38.53%
Selling, General & Admin $2.841M $3.265M
YoY Change -12.99% 10.98%
% of Gross Profit 78.85% 115.74%
Research & Development $142.0K $166.0K
YoY Change -14.46% -6.21%
% of Gross Profit 3.94% 5.88%
Depreciation & Amortization $479.0K $493.0K
YoY Change -2.84% 57.51%
% of Gross Profit 13.29% 17.48%
Operating Expenses $2.983M $3.431M
YoY Change -13.06% 10.0%
Operating Profit $620.0K -$610.0K
YoY Change -201.64% 212.82%
Interest Expense -$108.0K -$132.0K
YoY Change -18.18% 450.0%
% of Operating Profit -17.42%
Other Income/Expense, Net
YoY Change
Pretax Income $512.0K -$742.0K
YoY Change -169.0% 238.81%
Income Tax $11.00K -$51.00K
% Of Pretax Income 2.15%
Net Earnings $501.0K -$691.0K
YoY Change -172.5% 558.1%
Net Earnings / Revenue 5.69% -9.44%
Basic Earnings Per Share $0.09 -$0.12
Diluted Earnings Per Share $0.09 -$0.12
COMMON SHARES
Basic Shares Outstanding 5.685M 5.633M
Diluted Shares Outstanding 5.719M 5.633M

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.300M $1.550M
YoY Change -16.13% 3.33%
Cash & Equivalents $1.299M $1.554M
Short-Term Investments
Other Short-Term Assets $430.0K $670.0K
YoY Change -35.82% -6.94%
Inventory $7.981M $8.388M
Prepaid Expenses
Receivables $2.619M $2.246M
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.33M $12.87M
YoY Change -4.2% 10.87%
LONG-TERM ASSETS
Property, Plant & Equipment $16.29M $17.46M
YoY Change -6.7% 12.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $207.0K $400.0K
YoY Change -48.25% -56.94%
Total Long-Term Assets $16.50M $17.86M
YoY Change -7.63% -10.53%
TOTAL ASSETS
Total Short-Term Assets $12.33M $12.87M
Total Long-Term Assets $16.50M $17.86M
Total Assets $28.82M $30.72M
YoY Change -6.19% -2.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.132M $3.991M
YoY Change -21.52% 29.16%
Accrued Expenses $1.143M $1.660M
YoY Change -31.14% 57.35%
Deferred Revenue
YoY Change
Short-Term Debt $500.0K $600.0K
YoY Change -16.67% 20.0%
Long-Term Debt Due $620.0K $580.0K
YoY Change 6.9% 152.17%
Total Short-Term Liabilities $5.479M $6.895M
YoY Change -20.54% 38.98%
LONG-TERM LIABILITIES
Long-Term Debt $6.110M $6.650M
YoY Change -8.12% 31.68%
Other Long-Term Liabilities $100.0K $30.00K
YoY Change 233.33% 200.0%
Total Long-Term Liabilities $6.210M $6.680M
YoY Change -7.04% 32.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.479M $6.895M
Total Long-Term Liabilities $6.210M $6.680M
Total Liabilities $11.68M $13.66M
YoY Change -14.45% 36.26%
SHAREHOLDERS EQUITY
Retained Earnings -$14.58M -$14.56M
YoY Change 0.16% 52.0%
Common Stock $114.0K $113.0K
YoY Change 0.88% 1.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.14M $17.07M
YoY Change
Total Liabilities & Shareholders Equity $28.82M $30.72M
YoY Change -6.19% -2.66%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $501.0K -$691.0K
YoY Change -172.5% 558.1%
Depreciation, Depletion And Amortization $479.0K $493.0K
YoY Change -2.84% 57.51%
Cash From Operating Activities $210.0K $170.0K
YoY Change 23.53% -173.91%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$170.0K
YoY Change -64.71% -84.4%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$56.00K -$170.0K
YoY Change -67.06% -81.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $130.0K $124.0K
YoY Change 4.84% 117.54%
Cash From Financing Activities -262.0K 310.0K
YoY Change -184.52% -29.55%
NET CHANGE
Cash From Operating Activities 210.0K 170.0K
Cash From Investing Activities -56.00K -170.0K
Cash From Financing Activities -262.0K 310.0K
Net Change In Cash -108.0K 310.0K
YoY Change -134.84% -143.06%
FREE CASH FLOW
Cash From Operating Activities $210.0K $170.0K
Capital Expenditures -$60.00K -$170.0K
Free Cash Flow $270.0K $340.0K
YoY Change -20.59% -60.47%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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PropertyPlantAndEquipmentNet
16712000
CY2017Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
21000
CY2016Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
17000
CY2017Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
130000
CY2016Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
124000
CY2015Q3 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
142000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
166000
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14583000
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-15084000
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
8809000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
7322000
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1489000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1555000
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
31000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
78000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
4.08
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5113
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.006
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1650000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1536780
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
482000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.07
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1500
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
145946
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
103461
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
503000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
501500
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.10
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.10
CY2017Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2017Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.11
CY2017Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2017Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
482000
CY2017Q2 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
501500
CY2017Q2 us-gaap Share Price
SharePrice
3.55
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
103461
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y109D
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
19500
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
19500
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.93
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.93
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y255D
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y146D
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
CY2017Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
4.07
CY2017Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
4.10
CY2017Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y146D
CY2017Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
17139000
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
16607000
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
34000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5719000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5633000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5633000
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5685000
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5633000

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