$DLHC
DLH Holdings Corp.

2017 Q1 Form 10-Q Financial Statement

#000162828017005430 Filed on May 11, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $29.91M $16.90M
YoY Change 76.95% 6.29%
Cost Of Revenue $23.50M $13.71M
YoY Change 71.44% 4.16%
Gross Profit $6.401M $3.224M
YoY Change 98.54% 18.1%
Gross Profit Margin 21.4% 19.08%
Selling, General & Admin $4.000M $2.500M
YoY Change 60.0% 13.64%
% of Gross Profit 62.49% 77.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $554.0K $22.00K
YoY Change 2418.18% 22.22%
% of Gross Profit 8.65% 0.68%
Operating Expenses $4.600M $2.500M
YoY Change 84.0% 13.64%
Operating Profit $1.839M $689.0K
YoY Change 166.91% 33.79%
Interest Expense $215.0K $0.00
YoY Change -100.0%
% of Operating Profit 11.69% 0.0%
Other Income/Expense, Net -$255.0K -$127.0K
YoY Change 100.79% -80.49%
Pretax Income $1.584M $562.0K
YoY Change 181.85% -513.24%
Income Tax $605.0K $225.0K
% Of Pretax Income 38.19% 40.04%
Net Earnings $979.0K $337.0K
YoY Change 190.5% -510.98%
Net Earnings / Revenue 3.27% 1.99%
Basic Earnings Per Share $0.09 $0.03
Diluted Earnings Per Share $0.08 $0.03
COMMON SHARES
Basic Shares Outstanding 11.25M shares 9.717M shares
Diluted Shares Outstanding 12.75M shares 10.67M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.100M $6.900M
YoY Change -55.07% 64.29%
Cash & Equivalents $3.091M $6.934M
Short-Term Investments
Other Short-Term Assets $757.0K $484.0K
YoY Change 56.4% -1.02%
Inventory
Prepaid Expenses
Receivables $8.871M $3.354M
Other Receivables $0.00 $0.00
Total Short-Term Assets $12.72M $11.75M
YoY Change 8.21% 46.45%
LONG-TERM ASSETS
Property, Plant & Equipment $1.120M $329.0K
YoY Change 240.43% 174.17%
Goodwill $25.99M $8.595M
YoY Change 202.37% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.90M $9.400M
YoY Change 15.96% 108.89%
Total Long-Term Assets $54.00M $18.28M
YoY Change 195.44% 38.35%
TOTAL ASSETS
Total Short-Term Assets $12.72M $11.75M
Total Long-Term Assets $54.00M $18.28M
Total Assets $66.71M $30.03M
YoY Change 122.16% 41.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.714M $979.0K
YoY Change 483.66% 814.95%
Accrued Expenses $3.400M $2.600M
YoY Change 30.77% -7.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.600M
YoY Change
Total Short-Term Liabilities $15.98M $6.430M
YoY Change 148.44% -10.15%
LONG-TERM LIABILITIES
Long-Term Debt $17.10M $0.00
YoY Change
Other Long-Term Liabilities $200.0K $168.0K
YoY Change 19.05% 1427.27%
Total Long-Term Liabilities $17.10M $168.0K
YoY Change 10076.19% 1427.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.98M $6.430M
Total Long-Term Liabilities $17.10M $168.0K
Total Liabilities $33.07M $6.598M
YoY Change 401.23% -7.94%
SHAREHOLDERS EQUITY
Retained Earnings -$48.83M -$53.30M
YoY Change -8.38% -14.31%
Common Stock $82.47M $76.73M
YoY Change 7.49% 0.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.64M $23.43M
YoY Change
Total Liabilities & Shareholders Equity $66.71M $30.03M
YoY Change 122.16% 41.41%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $979.0K $337.0K
YoY Change 190.5% -510.98%
Depreciation, Depletion And Amortization $554.0K $22.00K
YoY Change 2418.18% 22.22%
Cash From Operating Activities $2.190M $980.0K
YoY Change 123.47% 53.13%
INVESTING ACTIVITIES
Capital Expenditures -$630.0K -$20.00K
YoY Change 3050.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$630.0K -$20.00K
YoY Change 3050.0% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -940.0K -30.00K
YoY Change 3033.33% -83.33%
NET CHANGE
Cash From Operating Activities 2.190M 980.0K
Cash From Investing Activities -630.0K -20.00K
Cash From Financing Activities -940.0K -30.00K
Net Change In Cash 620.0K 930.0K
YoY Change -33.33% 106.67%
FREE CASH FLOW
Cash From Operating Activities $2.190M $980.0K
Capital Expenditures -$630.0K -$20.00K
Free Cash Flow $2.820M $1.000M
YoY Change 182.0% 53.85%

Facts In Submission

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CY2017Q1 us-gaap Liabilities
Liabilities
33071000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
65074000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
66714000 USD
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
14516000 USD
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
15975000 USD
CY2017Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
6300000 USD
CY2016Q3 us-gaap Loans Payable Current
LoansPayableCurrent
3560000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35000 USD
CY2017Q1 us-gaap Loans Payable Current
LoansPayableCurrent
3580000 USD
CY2017Q1 us-gaap Long Term Debt
LongTermDebt
21563000 USD
CY2017Q1 us-gaap Long Term Debt Maturing In Years Four And Five
LongTermDebtMaturingInYearsFourAndFive
10313000 USD
CY2017Q1 us-gaap Long Term Debt Maturing In Years Two And Three
LongTermDebtMaturingInYearsTwoAndThree
7500000 USD
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3750000 USD
CY2017Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
17096000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-47000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1901000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-924000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1458000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2489000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-127000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-702000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-255000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-619000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
689000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1071000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1839000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2728000 USD
CY2016Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
126000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
595000 USD
CY2016Q3 us-gaap Other Assets
OtherAssets
105000 USD
CY2017Q1 us-gaap Other Assets
OtherAssets
105000 USD
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
542000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
757000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
18782000 USD
CY2015 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
702000 USD
CY2016Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
127000 USD
CY2017Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
USD
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
0 USD
CY2016Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
374000 USD
CY2017Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
425000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
250000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
35000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
674000 USD
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.1
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.1
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10000 shares
CY2017Q1 us-gaap Profit Loss
ProfitLoss
979000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
337000 USD
us-gaap Profit Loss
ProfitLoss
221000 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14000 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-1875000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
400000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7581000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
9121000 USD
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2226000 shares
us-gaap Profit Loss
ProfitLoss
1303000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1187000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1838000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
644000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1120000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
47000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
40000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-50132000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-48828000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2616000 shares
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.43
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.48
CY2016Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1909000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1949000 shares
CY2016Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
317000 shares
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
667000 shares
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M6D
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
342000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
549000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
31776000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
33643000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10666000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10540000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12745000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12713000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9717000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9642000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11249000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11225000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include valuation of goodwill and intangible assets, valuation allowances established against accounts receivable and deferred tax assets,&#160;measurement of loss development on workers&#8217; compensation claims, and fair value of derivatives. We evaluate these estimates and judgments on an ongoing basis and base our estimates on historical experience, current and expected future outcomes, third-party evaluations and various other assumptions that we believe are reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities as well as identifying and assessing the accounting treatment with respect to commitments and contingencies. We revise material accounting estimates if changes occur, such as more experience is acquired, additional information is obtained, or there is new information on which an estimate was or can be based. Actual results could differ from those estimates. In particular, a material reduction in the fair value of goodwill could have a material adverse effect on the Company&#8217;s financial position and results of operations. We account for the effect of a change in accounting estimate during the period in which the change occurs. </font></div></div>

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