2014 Q1 Form 10-Q Financial Statement

#000110465914028598 Filed on April 18, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q3 2013 Q1
Revenue $272.4M $318.2M $274.6M
YoY Change -0.78% 3.41% -0.46%
Cost Of Revenue $254.8M $298.2M $256.3M
YoY Change -0.57% 4.12% -0.13%
Gross Profit $17.62M $20.00M $18.30M
YoY Change -3.7% -6.1% -4.78%
Gross Profit Margin 6.47% 6.29% 6.66%
Selling, General & Admin $15.81M $16.50M $15.44M
YoY Change 2.42% 1.85% -2.92%
% of Gross Profit 89.74% 82.5% 84.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $628.8K $630.0K $599.8K
YoY Change 4.84% 3.28% -2.3%
% of Gross Profit 3.57% 3.15% 3.28%
Operating Expenses $16.44M $17.20M $16.04M
YoY Change 2.51% 2.99% -2.89%
Operating Profit $1.179M $2.800M $2.259M
YoY Change -47.81% -39.13% -16.35%
Interest Expense $222.6K -$200.0K $249.0K
YoY Change -10.59% -33.33% -22.15%
% of Operating Profit 18.88% -7.14% 11.02%
Other Income/Expense, Net -$183.7K $100.0K -$134.1K
YoY Change 36.92% -40.63%
Pretax Income $995.3K $2.700M $2.125M
YoY Change -53.16% -37.21% -14.14%
Income Tax $464.0K $1.100M $911.0K
% Of Pretax Income 46.62% 40.74% 42.87%
Net Earnings $531.3K $1.500M $1.214M
YoY Change -56.23% -42.31% -17.13%
Net Earnings / Revenue 0.2% 0.47% 0.44%
Basic Earnings Per Share $1.87
Diluted Earnings Per Share $0.72 $1.875M $1.63
COMMON SHARES
Basic Shares Outstanding 611.4K shares 623.1K shares
Diluted Shares Outstanding 743.2K shares

Balance Sheet

Concept 2014 Q1 2013 Q3 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $400.0K $300.0K $400.0K
YoY Change 0.0% -40.0% -55.56%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $6.500M $6.800M $8.000M
YoY Change -18.75% -19.05% -11.11%
Inventory $49.08M $46.13M $39.10M
Prepaid Expenses $1.000M
Receivables $26.89M $28.38M $31.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $82.87M $81.62M $78.46M
YoY Change 5.61% 2.11% 2.41%
LONG-TERM ASSETS
Property, Plant & Equipment $13.53M $13.09M $13.15M
YoY Change 2.82% 0.04% -1.55%
Goodwill $6.350M $6.350M $6.350M
YoY Change 0.0% 0.0% 0.0%
Intangibles $4.638M $4.821M $5.003M
YoY Change -7.29% -7.04% -6.8%
Long-Term Investments
YoY Change
Other Assets $484.8K $497.9K $461.4K
YoY Change 5.08% -60.45% -64.16%
Total Long-Term Assets $25.00M $24.76M $24.97M
YoY Change 0.12% -4.33% -5.3%
TOTAL ASSETS
Total Short-Term Assets $82.87M $81.62M $78.46M
Total Long-Term Assets $25.00M $24.76M $24.97M
Total Assets $107.9M $106.4M $103.4M
YoY Change 4.28% 0.53% 0.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.90M $15.86M $15.43M
YoY Change 3.05% -7.73% -5.73%
Accrued Expenses $5.472M $6.714M $5.654M
YoY Change -3.22% -3.14% -4.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $560.6K $998.8K $1.203M
YoY Change -53.39% -15.56% -37.28%
Total Short-Term Liabilities $24.23M $28.25M $24.31M
YoY Change -0.33% -5.84% -9.75%
LONG-TERM LIABILITIES
Long-Term Debt $3.907M $4.077M $4.468M
YoY Change -12.56% -19.68% -9.34%
Other Long-Term Liabilities $235.4K $239.4K $332.2K
YoY Change -29.14% -28.79% -21.93%
Total Long-Term Liabilities $4.142M $4.316M $4.801M
YoY Change -13.71% -20.24% -10.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.23M $28.25M $24.31M
Total Long-Term Liabilities $4.142M $4.316M $4.801M
Total Liabilities $28.38M $32.57M $29.11M
YoY Change -2.53% -8.04% -9.85%
SHAREHOLDERS EQUITY
Retained Earnings $45.02M $43.53M $40.68M
YoY Change 10.65% 13.52% 18.78%
Common Stock $13.58M $12.50M $12.47M
YoY Change 8.91% 13.44% 14.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.243M $3.301M $3.301M
YoY Change 58.83% 259.58% 259.58%
Treasury Stock Shares
Shareholders Equity $53.36M $52.74M $49.86M
YoY Change
Total Liabilities & Shareholders Equity $107.9M $106.4M $103.4M
YoY Change 4.28% 0.53% 0.44%

Cashflow Statement

Concept 2014 Q1 2013 Q3 2013 Q1
OPERATING ACTIVITIES
Net Income $531.3K $1.500M $1.214M
YoY Change -56.23% -42.31% -17.13%
Depreciation, Depletion And Amortization $628.8K $630.0K $599.8K
YoY Change 4.84% 3.28% -2.3%
Cash From Operating Activities $10.44M $14.04M $14.28M
YoY Change -26.89% -15.52% 27.73%
INVESTING ACTIVITIES
Capital Expenditures $377.2K -$300.0K $774.0K
YoY Change -51.27% -47.37% -272.0%
Acquisitions
YoY Change
Other Investing Activities -$490.0K $40.00K $0.00
YoY Change -50.0% -100.0%
Cash From Investing Activities -$870.0K -$270.0K -$770.0K
YoY Change 12.99% -43.75% 87.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.500M -13.68M -13.11M
YoY Change -27.54% -15.66% 20.39%
NET CHANGE
Cash From Operating Activities 10.44M 14.04M 14.28M
Cash From Investing Activities -870.0K -270.0K -770.0K
Cash From Financing Activities -9.500M -13.68M -13.11M
Net Change In Cash 70.00K 90.00K 400.0K
YoY Change -82.5% -212.5% -433.33%
FREE CASH FLOW
Cash From Operating Activities $10.44M $14.04M $14.28M
Capital Expenditures $377.2K -$300.0K $774.0K
Free Cash Flow $10.06M $14.34M $13.51M
YoY Change -25.49% -16.58% 16.13%

Facts In Submission

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dei Entity Registrant Name
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5700 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
780967 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1565640 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1802183 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1618592 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1123486 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
37309 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2060080 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
29969 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1102928 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
513938 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
139540 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
4926619 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-964689 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
607923 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
3378417 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
1941918 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
587355 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
97285 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
2572085 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
239362 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
107399 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
109115 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
234917 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1180 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1931016 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
74610 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-196769 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
121524 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
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us-gaap Interest Paid
InterestPaid
523081 USD
us-gaap Interest Paid
InterestPaid
564422 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
2585145 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
3583555 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
152311 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
57412 USD
us-gaap Stock Issued1
StockIssued1
1154869 USD
us-gaap Stock Issued1
StockIssued1
1389258 USD
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
100000 USD
us-gaap Payments For Repurchase Of Private Placement
PaymentsForRepurchaseOfPrivatePlacement
760871 USD
CY2013Q1 us-gaap Cash
Cash
432857 USD
CY2012Q3 us-gaap Cash
Cash
491387 USD
CY2014Q1 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
85700000 USD
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ExciseAndSalesTaxes
87200000 USD
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
183100000 USD
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
185200000 USD
CY2014Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
48108 USD
CY2013Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
256271131 USD
us-gaap Gross Profit
GrossProfit
37261025 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
539259663 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
483177 USD
CY2013Q1 us-gaap Gross Profit
GrossProfit
18297020 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
32304437 USD
us-gaap Gross Profit
GrossProfit
37526809 USD
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15438195 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1252874 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Operating Expenses
OperatingExpenses
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CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
599785 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
3703714 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1846801 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
16037980 USD
us-gaap Net Income Loss
NetIncomeLoss
1819281 USD
us-gaap Operating Expenses
OperatingExpenses
32480314 USD
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
114846 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
97285 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
176195 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1721996 USD
CY2013Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-134146 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-388849 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
911000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1981000 USD
CY2013Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
700000 USD
CY2014Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
500000 USD
CY2014Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
0 USD

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