2019 Q4 Form 10-Q Financial Statement

#000085477520000004 Filed on February 07, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $62.32M $62.31M
YoY Change 0.01% 38.61%
Cost Of Revenue $31.85M $32.53M
YoY Change -2.08% 41.46%
Gross Profit $30.46M $29.78M
YoY Change 2.29% 35.63%
Gross Profit Margin 48.89% 47.8%
Selling, General & Admin $20.62M $14.77M
YoY Change 39.54% -8.84%
% of Gross Profit 67.67% 49.61%
Research & Development $10.33M $9.518M
YoY Change 8.54% 22.8%
% of Gross Profit 33.91% 31.96%
Depreciation & Amortization $3.617M $3.673M
YoY Change -1.52% 49.74%
% of Gross Profit 11.87% 12.33%
Operating Expenses $30.95M $24.23M
YoY Change 27.75% 1.11%
Operating Profit -$483.0K $5.558M
YoY Change -108.69% -378.04%
Interest Expense $432.0K $92.00K
YoY Change 369.57% 2966.67%
% of Operating Profit 1.66%
Other Income/Expense, Net -$236.0K $48.00K
YoY Change -591.67% -206.67%
Pretax Income -$920.0K $5.722M
YoY Change -116.08% -411.15%
Income Tax -$1.100M $1.040M
% Of Pretax Income 18.18%
Net Earnings $208.0K $4.682M
YoY Change -95.56% -204.35%
Net Earnings / Revenue 0.33% 7.51%
Basic Earnings Per Share $0.01 $0.17
Diluted Earnings Per Share $0.01 $0.17
COMMON SHARES
Basic Shares Outstanding 28.47M shares 27.51M shares
Diluted Shares Outstanding 29.61M shares 28.08M shares

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.10M $76.47M
YoY Change -35.79% 3.6%
Cash & Equivalents $49.07M $72.22M
Short-Term Investments $4.247M
Other Short-Term Assets $7.500M $3.800M
YoY Change 97.37% -20.83%
Inventory $47.38M $47.04M
Prepaid Expenses
Receivables $81.10M $46.37M
Other Receivables $0.00 $0.00
Total Short-Term Assets $185.0M $173.7M
YoY Change 6.53% 24.02%
LONG-TERM ASSETS
Property, Plant & Equipment $13.21M $11.83M
YoY Change 11.66% -7.04%
Goodwill $214.8M $153.6M
YoY Change 39.87% 2.84%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.46M $357.0K
YoY Change 4511.2% -20.84%
Total Long-Term Assets $375.9M $208.0M
YoY Change 80.67% 0.28%
TOTAL ASSETS
Total Short-Term Assets $185.0M $173.7M
Total Long-Term Assets $375.9M $208.0M
Total Assets $560.9M $381.7M
YoY Change 46.94% 9.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.17M $16.02M
YoY Change 44.59% 153.1%
Accrued Expenses $9.100M $6.700M
YoY Change 35.82% -17.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.972M
YoY Change
Total Short-Term Liabilities $61.53M $40.77M
YoY Change 50.9% 73.72%
LONG-TERM LIABILITIES
Long-Term Debt $105.5M $0.00
YoY Change
Other Long-Term Liabilities $17.87M $392.0K
YoY Change 4458.67% -42.44%
Total Long-Term Liabilities $123.3M $392.0K
YoY Change 31364.29% -42.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.53M $40.77M
Total Long-Term Liabilities $123.3M $392.0K
Total Liabilities $204.6M $46.72M
YoY Change 337.93% 61.7%
SHAREHOLDERS EQUITY
Retained Earnings $162.1M $156.6M
YoY Change 3.5% 7.38%
Common Stock $272.7M $258.4M
YoY Change 5.57% 3.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $55.70M $54.89M
YoY Change 1.48% 0.2%
Treasury Stock Shares 6.431M shares 6.436M shares
Shareholders Equity $356.3M $335.0M
YoY Change
Total Liabilities & Shareholders Equity $560.9M $381.7M
YoY Change 46.94% 9.85%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $208.0K $4.682M
YoY Change -95.56% -204.35%
Depreciation, Depletion And Amortization $3.617M $3.673M
YoY Change -1.52% 49.74%
Cash From Operating Activities -$22.07M $6.111M
YoY Change -461.1% -560.17%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$1.780M
YoY Change -88.76% 295.56%
Acquisitions $136.1M $0.00
YoY Change -100.0%
Other Investing Activities -$136.1M $10.54M
YoY Change -1391.27% -131.19%
Cash From Investing Activities -$136.3M $8.763M
YoY Change -1655.33% -125.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.577M $964.0K
YoY Change 63.59% 51.57%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $112.9M -$174.0K
YoY Change -64967.24% -106.41%
NET CHANGE
Cash From Operating Activities -$22.07M $6.111M
Cash From Investing Activities -$136.3M $8.763M
Cash From Financing Activities $112.9M -$174.0K
Net Change In Cash -$43.72M $14.70M
YoY Change -397.41% -144.74%
FREE CASH FLOW
Cash From Operating Activities -$22.07M $6.111M
Capital Expenditures -$200.0K -$1.780M
Free Cash Flow -$21.87M $7.891M
YoY Change -377.11% -998.75%

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0 USD
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0.0450
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P8Y
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CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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2056000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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2314000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2575000 USD
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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11361000 USD
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875000 USD
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2660000 USD
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0 shares
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0 USD
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48000 USD
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161000 USD
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CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2660000 USD
CY2018Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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5000 USD
CY2019Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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0 USD
CY2018Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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2000 USD
CY2019Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2019Q3 us-gaap Other Liabilities Current
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4110000 USD
CY2019Q4 us-gaap Other Liabilities Current
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CY2019Q3 us-gaap Other Liabilities Noncurrent
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CY2019Q4 us-gaap Other Liabilities Noncurrent
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CY2019Q4 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
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964000 USD
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0 USD
CY2019Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2018Q4 us-gaap Payments To Acquire Productive Assets
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1775000 USD
CY2019Q4 us-gaap Payments To Acquire Productive Assets
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196000 USD
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2019Q4 us-gaap Preferred Stock Shares Authorized
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0 shares
CY2019Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
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CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
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3574000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
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7486000 USD
CY2018Q4 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2019Q4 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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CY2018Q4 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
491000 USD
CY2019Q4 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 USD
CY2018Q4 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
10047000 USD
CY2019Q4 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
CY2018Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
662000 USD
CY2019Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4160000 USD
CY2018Q4 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
289000 USD
CY2019Q4 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
286000 USD
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13857000 USD
CY2018Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
206000 USD
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1600000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
72000 USD
CY2019Q4 us-gaap Selling And Marketing Expense
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12061000 USD
CY2018Q4 us-gaap Share Based Compensation
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1414000 USD
CY2019Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
74000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
289000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
286000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
662000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4160000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
330493000 USD
CY2019Q4 us-gaap Provision For Doubtful Accounts
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50000 USD
CY2018Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
9518000 USD
CY2019Q4 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
10331000 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
161919000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
162127000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
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8400000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
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13200000 USD
CY2018Q4 us-gaap Revenues
Revenues
62313000 USD
CY2019Q4 us-gaap Revenues
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62317000 USD
CY2019Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 USD
CY2018Q4 us-gaap Selling And Marketing Expense
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11657000 USD
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000000 USD
CY2018Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
83988 shares
CY2019Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
88723 shares
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1172000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1140000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1012000 USD
CY2019Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
999000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
104000 USD
CY2019Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
87000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
335010000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
348978000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
356315000 USD
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
6367428 shares
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
6431413 shares
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
54339000 USD
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
55702000 USD
CY2018Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
964000 USD
CY2019Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1577000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits
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1713000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits
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1667000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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7000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
39000 USD
CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1500000 USD
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
23000 USD
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28075000 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29614000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27513000 shares
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28467000 shares

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