2020 Q1 Form 10-Q Financial Statement

#000090910820000045 Filed on April 27, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $31.93M $32.58M
YoY Change -2.01% -13.77%
Cost Of Revenue $810.0K $860.0K
YoY Change -5.81% -15.69%
Gross Profit $31.11M $31.72M
YoY Change -1.92% -13.71%
Gross Profit Margin 97.44% 97.36%
Selling, General & Admin $3.384M $4.615M
YoY Change -26.67% 10.59%
% of Gross Profit 10.88% 14.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $265.1K $282.6K
YoY Change -6.19% -1.14%
% of Gross Profit 0.85% 0.89%
Operating Expenses $11.46M $21.45M
YoY Change -46.56% 9.54%
Operating Profit $20.47M $11.13M
YoY Change 83.81% -38.84%
Interest Expense -$22.40M $14.28M
YoY Change -256.86% -1015.38%
% of Operating Profit -109.45% 128.26%
Other Income/Expense, Net
YoY Change
Pretax Income -$1.933M $25.42M
YoY Change -107.6% 52.72%
Income Tax $595.4K $5.863M
% Of Pretax Income 23.06%
Net Earnings $1.530M $16.93M
YoY Change -90.96% 30.36%
Net Earnings / Revenue 4.79% 51.97%
Basic Earnings Per Share $0.47 $4.85
Diluted Earnings Per Share $0.47 $4.84
COMMON SHARES
Basic Shares Outstanding 3.273M shares 3.494M shares
Diluted Shares Outstanding 3.273M shares 3.497M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.30M $92.10M
YoY Change 5.65% 56.63%
Cash & Equivalents $97.31M $92.15M
Short-Term Investments
Other Short-Term Assets $3.000M $2.500M
YoY Change 20.0% 13.64%
Inventory
Prepaid Expenses
Receivables $13.40M $17.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $113.7M $112.0M
YoY Change 1.52% 39.65%
LONG-TERM ASSETS
Property, Plant & Equipment $5.472M $6.329M
YoY Change -13.54% 49.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $56.90M $46.26M
YoY Change 22.99% 147.05%
Other Assets $13.10M $12.00M
YoY Change 9.17% 90.48%
Total Long-Term Assets $123.5M $183.2M
YoY Change -32.55% -9.38%
TOTAL ASSETS
Total Short-Term Assets $113.7M $112.0M
Total Long-Term Assets $123.5M $183.2M
Total Assets $237.2M $295.2M
YoY Change -19.62% 4.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.600M $8.800M
YoY Change -59.09% -51.38%
Accrued Expenses $10.40M $8.000M
YoY Change 30.0% 3.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.00M $21.70M
YoY Change -35.48% -16.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.90M $26.80M
YoY Change -14.55% 11.67%
Total Long-Term Liabilities $22.90M $26.80M
YoY Change -14.55% 11.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.00M $21.70M
Total Long-Term Liabilities $22.90M $26.80M
Total Liabilities $36.91M $48.49M
YoY Change -23.89% -2.55%
SHAREHOLDERS EQUITY
Retained Earnings $118.9M $109.6M
YoY Change 8.47% 26.89%
Common Stock $90.60M $124.5M
YoY Change -27.22% -3.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $190.8M $210.4M
YoY Change
Total Liabilities & Shareholders Equity $237.2M $295.2M
YoY Change -19.62% 4.55%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $1.530M $16.93M
YoY Change -90.96% 30.36%
Depreciation, Depletion And Amortization $265.1K $282.6K
YoY Change -6.19% -1.14%
Cash From Operating Activities $1.991M $16.08M
YoY Change -87.62% -185.41%
INVESTING ACTIVITIES
Capital Expenditures $115.2K $91.02K
YoY Change 26.59% -37.21%
Acquisitions
YoY Change
Other Investing Activities $12.26M -$1.880M
YoY Change -752.13% -6.0%
Cash From Investing Activities $12.15M -$1.968M
YoY Change -717.24% -8.06%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $9.183M $7.907M
YoY Change 16.13%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$10.00M -$6.391M
YoY Change 56.49% -302.23%
NET CHANGE
Cash From Operating Activities $1.991M $16.08M
Cash From Investing Activities $12.15M -$1.968M
Cash From Financing Activities -$10.00M -$6.391M
Net Change In Cash $4.135M $7.719M
YoY Change -46.43% -143.36%
FREE CASH FLOW
Cash From Operating Activities $1.991M $16.08M
Capital Expenditures $115.2K $91.02K
Free Cash Flow $1.876M $15.99M
YoY Change -88.27% -184.28%

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97311557 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92149154 USD
CY2020Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2019Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
4203130 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3396359 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3655296 USD
CY2020Q1 dhil Netissuanceof Et Fsharesformarketablesecurities
NetissuanceofETFsharesformarketablesecurities
0 USD
CY2019Q1 dhil Netissuanceof Et Fsharesformarketablesecurities
NetissuanceofETFsharesformarketablesecurities
-3244940 USD
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates</span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions related to the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the period. Actual results could differ from those estimates.</span></div>
CY2020Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="line-height:120%;padding-top:18px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Reclassification</span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain prior period amounts and disclosures may have been reclassified to conform to the current period's financial presentation.</span></div>
CY2020Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2020Q1 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
8400000 USD
CY2019Q4 us-gaap Accounts Receivable Related Parties
AccountsReceivableRelatedParties
10700000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
31925745 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32579373 USD
CY2020Q1 dhil Advance Commissions Amortization Period
AdvanceCommissionsAmortizationPeriod
P12M
CY2020Q1 us-gaap Equity Method Investments
EquityMethodInvestments
56896124 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
61149774 USD
CY2020Q1 us-gaap Investments
Investments
104519064 USD
CY2019Q4 us-gaap Investments
Investments
139437178 USD
CY2020Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-817539 USD
CY2019Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
2907366 USD
CY2020Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-22467598 USD
CY2019Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
9777692 USD
CY2020Q1 us-gaap Investment Income Dividend
InvestmentIncomeDividend
894413 USD
CY2019Q1 us-gaap Investment Income Dividend
InvestmentIncomeDividend
1496439 USD
CY2020Q1 dhil Investment Income Other Incomeloss
InvestmentIncomeOtherIncomeloss
-7368 USD
CY2019Q1 dhil Investment Income Other Incomeloss
InvestmentIncomeOtherIncomeloss
103380 USD
CY2020Q1 us-gaap Investment Income Net
InvestmentIncomeNet
-22398092 USD
CY2019Q1 us-gaap Investment Income Net
InvestmentIncomeNet
14284877 USD
CY2020Q1 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
213264977 USD
CY2020Q1 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
23227019 USD
CY2020Q1 us-gaap Equity Method Investment Summarized Financial Information Equity
EquityMethodInvestmentSummarizedFinancialInformationEquity
190037958 USD
CY2020Q1 us-gaap Equity Method Investment Underlying Equity In Net Assets
EquityMethodInvestmentUnderlyingEquityInNetAssets
56896124 USD
CY2020Q1 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
1199720 USD
CY2020Q1 dhil Equity Method Investment Summarized Financial Information Expenses
EquityMethodInvestmentSummarizedFinancialInformationExpenses
340399 USD
CY2020Q1 dhil Equity Method Investment Summarized Financial Information Netrealizedgainslosses
EquityMethodInvestmentSummarizedFinancialInformationNetrealizedgainslosses
-2258700 USD
CY2020Q1 dhil Equity Method Investment Summarized Financial Information Netchangeinunrealizedappreciationdepreciation
EquityMethodInvestmentSummarizedFinancialInformationNetchangeinunrealizedappreciationdepreciation
-14319744 USD
CY2020Q1 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-15719123 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-3675555 USD
CY2020Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
94884074 USD
CY2020Q1 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
18700000 USD
CY2020Q1 dhil Deferred Compensation Arrangement Fully Vested Employee Elected Deferral Period Minimum
DeferredCompensationArrangementFullyVestedEmployeeElectedDeferralPeriodMinimum
P5Y
CY2020Q1 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
22900000 USD
CY2019Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
30300000 USD
CY2020Q1 dhil Lessee Leasing Agreements Operating Leases Areaunder Lease
LesseeLeasingAgreementsOperatingLeasesAreaunderLease
37829 sqft
CY2020Q1 dhil Lessee Leasing Agreements Operating Leaseslocations
LesseeLeasingAgreementsOperatingLeaseslocations
1 location
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2400000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3000000.0 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
225858 USD
CY2019Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
252073 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
468134 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
624179 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
624179 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
624179 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
624179 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
156045 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3120895 USD
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.045
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.041
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.023
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.005
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.002
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.001
CY2020Q1 dhil Effective Income Tax Rate Reconciliation Not Including Non Controlling Interest Percent
EffectiveIncomeTaxRateReconciliationNotIncludingNonControllingInterestPercent
0.280
CY2019Q1 dhil Effective Income Tax Rate Reconciliation Not Including Non Controlling Interest Percent
EffectiveIncomeTaxRateReconciliationNotIncludingNonControllingInterestPercent
0.257
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.588
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.026
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.308
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2020Q1 dhil Effective Income Tax Rate Reconciliation Not Including Non Controlling Interest Percent
EffectiveIncomeTaxRateReconciliationNotIncludingNonControllingInterestPercent
0.280
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-2528368 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
19555847 USD
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4058476 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2623205 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
1530108 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
16932642 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3272761 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3493843 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2691 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3272761 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3496534 shares
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.85
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.84

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