2018 Q4 Form 10-Q Financial Statement

#000070360418000063 Filed on October 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $86.30M $88.53M $75.65M
YoY Change 7.03% 17.02% 7.77%
Cost Of Revenue $40.20M $40.42M $29.65M
YoY Change 19.64% 36.35% 7.31%
Gross Profit $46.10M $48.11M $46.01M
YoY Change -1.9% 4.57% 8.06%
Gross Profit Margin 53.42% 54.34% 60.81%
Selling, General & Admin $42.00M $50.37M $44.92M
YoY Change -10.26% 12.15% 11.77%
% of Gross Profit 91.11% 104.71% 97.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.740M $1.750M $1.590M
YoY Change -4.92% 10.06% -19.7%
% of Gross Profit 3.77% 3.64% 3.46%
Operating Expenses $42.00M $50.37M $44.92M
YoY Change -10.26% 12.15% 11.77%
Operating Profit $4.100M -$2.266M $1.090M
YoY Change 2024.35% -307.89% -54.37%
Interest Expense -$300.0K $251.0K $133.0K
YoY Change 50.0% 88.72% -20.36%
% of Operating Profit -7.32% 12.2%
Other Income/Expense, Net -$1.000M $170.0K $843.0K
YoY Change 400.0% -79.83% 1177.27%
Pretax Income $2.800M -$2.347M $1.800M
YoY Change -1500.0% -230.39% -21.33%
Income Tax $200.0K -$1.531M $479.0K
% Of Pretax Income 7.14% 26.61%
Net Earnings $2.600M -$816.0K $1.321M
YoY Change -87.15% -161.77% -27.62%
Net Earnings / Revenue 3.01% -0.92% 1.75%
Basic Earnings Per Share -$0.09 $0.15
Diluted Earnings Per Share $0.14 -$0.09 $0.14
COMMON SHARES
Basic Shares Outstanding 8.920M shares 8.919M shares 8.880M shares
Diluted Shares Outstanding 8.919M shares 9.133M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.90M $7.700M $19.00M
YoY Change 170.45% -59.47% 77.57%
Cash & Equivalents $11.88M $5.992M $19.04M
Short-Term Investments
Other Short-Term Assets $800.0K $800.0K $800.0K
YoY Change 0.0% 0.0% 0.0%
Inventory $52.89M $51.15M $43.34M
Prepaid Expenses
Receivables $37.68M $43.56M $37.29M
Other Receivables $3.600M $5.000M $3.700M
Total Short-Term Assets $106.9M $108.3M $104.2M
YoY Change 8.59% 3.86% 17.46%
LONG-TERM ASSETS
Property, Plant & Equipment $23.55M $24.54M $26.84M
YoY Change -13.85% -8.6% -16.08%
Goodwill $20.08M $19.11M $5.789M
YoY Change 2.37% 230.18% 108.76%
Intangibles $13.11M $10.90M
YoY Change 11.0%
Long-Term Investments
YoY Change
Other Assets $307.0K $339.0K $905.0K
YoY Change 23.79% -62.54% -11.62%
Total Long-Term Assets $90.24M $88.71M $45.18M
YoY Change -2.62% 96.33% 0.13%
TOTAL ASSETS
Total Short-Term Assets $106.9M $108.3M $104.2M
Total Long-Term Assets $90.24M $88.71M $45.18M
Total Assets $197.1M $197.0M $149.4M
YoY Change 3.16% 31.83% 11.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.21M $16.33M $12.21M
YoY Change 22.7% 33.79% 7.65%
Accrued Expenses $40.18M $38.58M $30.83M
YoY Change 21.61% 25.14% 44.22%
Deferred Revenue
YoY Change
Short-Term Debt $10.80M $9.900M $0.00
YoY Change -25.52%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.21M $64.83M $43.04M
YoY Change 10.39% 50.64% 31.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.106M $4.445M $5.071M
YoY Change -27.91% -12.34% 14.47%
Total Long-Term Liabilities $4.106M $4.445M $5.071M
YoY Change -27.91% -12.34% 14.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.21M $64.83M $43.04M
Total Long-Term Liabilities $4.106M $4.445M $5.071M
Total Liabilities $97.97M $98.94M $76.75M
YoY Change 0.36% 28.92% 13.0%
SHAREHOLDERS EQUITY
Retained Earnings $77.34M $74.74M $51.22M
YoY Change 8.24% 45.93% 9.94%
Common Stock $24.63M $23.94M $21.26M
YoY Change 12.33% 12.64% 8.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.234M $711.0K $711.0K
YoY Change 73.56% 0.0% 33.4%
Treasury Stock Shares 49.79K shares 33.27K shares 33.27K shares
Shareholders Equity $99.17M $98.02M $72.66M
YoY Change
Total Liabilities & Shareholders Equity $197.1M $197.0M $149.4M
YoY Change 3.16% 31.83% 11.62%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $2.600M -$816.0K $1.321M
YoY Change -87.15% -161.77% -27.62%
Depreciation, Depletion And Amortization $1.740M $1.750M $1.590M
YoY Change -4.92% 10.06% -19.7%
Cash From Operating Activities $10.13M $8.320M $8.240M
YoY Change 206.04% 0.97% 164.95%
INVESTING ACTIVITIES
Capital Expenditures $890.0K $200.0K $730.0K
YoY Change 2866.67% -72.6% -25.51%
Acquisitions
YoY Change
Other Investing Activities -$5.150M $0.00 $0.00
YoY Change -84.05%
Cash From Investing Activities -$6.050M -$190.0K -$730.0K
YoY Change -81.28% -73.97% -26.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.0K -6.140M 0.000
YoY Change -99.17% -100.0%
NET CHANGE
Cash From Operating Activities 10.13M 8.320M 8.240M
Cash From Investing Activities -6.050M -190.0K -730.0K
Cash From Financing Activities 120.0K -6.140M 0.000
Net Change In Cash 4.200M 1.990M 7.510M
YoY Change -128.71% -73.5% 285.13%
FREE CASH FLOW
Cash From Operating Activities $10.13M $8.320M $8.240M
Capital Expenditures $890.0K $200.0K $730.0K
Free Cash Flow $9.240M $8.120M $7.510M
YoY Change 181.71% 8.12% 252.58%

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us-gaap Increase Decrease In Accounts Receivable
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5624000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
0 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-830000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
373000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
566000 USD
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-307000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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-442000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1562000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3651000 USD
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
253000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
256000 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
346000 shares
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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11813000 USD
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IntangibleAssetsNetExcludingGoodwill
10901000 USD
CY2017Q3 us-gaap Interest Expense
InterestExpense
133000 USD
us-gaap Interest Expense
InterestExpense
393000 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
251000 USD
us-gaap Interest Expense
InterestExpense
755000 USD
us-gaap Interest Paid
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400000 USD
us-gaap Interest Paid
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800000 USD
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98939000 USD
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190667000 USD
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CY2018Q3 us-gaap Liabilities Current
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CY2018Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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27000000 USD
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-861000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-4611000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
4949000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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3755000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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1626000 USD
us-gaap Net Income Loss
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9451000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
10174000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
1321000 USD
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-841000 USD
CY2018Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
3614000 USD
us-gaap Number Of Reportable Segments
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2 Segment
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OperatingExpenses
44915000 USD
us-gaap Operating Expenses
OperatingExpenses
126332000 USD
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OperatingExpenses
50374000 USD
us-gaap Operating Expenses
OperatingExpenses
138332000 USD
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OperatingIncomeLoss
1090000 USD
us-gaap Operating Income Loss
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9693000 USD
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248000 USD
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339000 USD
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139000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
941000 USD
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
692000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-769000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5696000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
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4445000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
843000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
953000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
170000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-320000 USD
us-gaap Payments For Repurchase Of Common Stock
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20000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Restructuring
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1625000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
787000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
157000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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1228000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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3728000 USD
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595000 USD
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-4625000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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6177000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
14000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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27333000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24535000 USD
CY2018Q3 us-gaap Ratio Of Indebtedness To Net Capital1
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2.5
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
800000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
800000 USD
us-gaap Restructuring Charges
RestructuringCharges
723000 USD
CY2016Q4 us-gaap Restructuring Reserve
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1710000 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
680000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
483000 USD
CY2018Q3 us-gaap Restructuring Reserve
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419000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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71453000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
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74738000 USD
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
75651000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
225274000 USD
CY2018Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
78377000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
233744000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
75651000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
225274000 USD
CY2018Q3 us-gaap Sales Revenue Net
SalesRevenueNet
88530000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
263371000 USD
CY2017Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
0 USD
CY2018Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
10153000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
29627000 USD
CY2017Q3 us-gaap Selling Expense
SellingExpense
24354000 USD
us-gaap Selling Expense
SellingExpense
72964000 USD
CY2018Q3 us-gaap Selling Expense
SellingExpense
22175000 USD
us-gaap Selling Expense
SellingExpense
66119000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
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44915000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
131754000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
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50374000 USD
us-gaap Selling General And Administrative Expense
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
93490000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
98022000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
33274 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
33274 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
711000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
711000 USD
CY2017Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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8400000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9133000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8880000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9112000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8919000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9250000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8856000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8919000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8904000 shares

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