2013 Q1 Form 10-K Financial Statement

#000119312513069590 Filed on February 21, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2011 Q4 2011 Q3
Revenue $29.60M $22.40M $18.30M
YoY Change 47.26% 43.59% 56.41%
Cost Of Revenue $13.10M $11.70M $10.09M
YoY Change 22.43% 36.05% 23.05%
Gross Profit $16.50M $10.70M $8.200M
YoY Change 75.53% 52.86% 134.29%
Gross Profit Margin 55.74% 47.77% 44.81%
Selling, General & Admin $18.10M $13.70M $13.24M
YoY Change 17.53% 37.0% 27.32%
% of Gross Profit 109.7% 128.04% 161.48%
Research & Development $9.300M $9.200M $8.231M
YoY Change -1.06% 33.33% 32.76%
% of Gross Profit 56.36% 85.98% 100.38%
Depreciation & Amortization $1.800M $1.100M $1.000M
YoY Change 50.0% 57.14% 66.67%
% of Gross Profit 10.91% 10.28% 12.2%
Operating Expenses $27.40M $22.90M $21.50M
YoY Change 10.48% 35.5% 30.3%
Operating Profit -$10.90M -$12.20M -$13.31M
YoY Change -29.22% 23.23% 2.37%
Interest Expense $200.0K $0.00 $1.000K
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$11.10M -$12.30M -$13.28M
YoY Change -27.92% 25.51% -0.91%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.10M -$12.20M -$13.30M
YoY Change -21.28% 24.49% -0.75%
Net Earnings / Revenue -37.5% -54.46% -72.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$159.0K -$182.2K -$197.3K
COMMON SHARES
Basic Shares Outstanding 69.58M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q1 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.30M $82.00M $97.30M
YoY Change -35.47% 74.1% 225.42%
Cash & Equivalents $18.90M $2.600M $17.52M
Short-Term Investments $26.40M $79.40M $79.80M
Other Short-Term Assets $2.200M $1.800M $2.500M
YoY Change 4.76% -48.57% -21.88%
Inventory $7.500M $8.200M $6.500M
Prepaid Expenses
Receivables $16.30M $12.50M $9.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $71.30M $104.5M $115.2M
YoY Change -23.17% 59.79% 158.88%
LONG-TERM ASSETS
Property, Plant & Equipment $18.30M $15.00M $12.50M
YoY Change 12.96% 38.89% 35.87%
Goodwill $3.200M $0.00
YoY Change
Intangibles $4.000M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000M $100.0K $1.000M
YoY Change -16.67% -90.0% 150.0%
Total Long-Term Assets $27.50M $16.00M $13.60M
YoY Change 9.13% 35.59% 41.67%
TOTAL ASSETS
Total Short-Term Assets $71.30M $104.5M $115.2M
Total Long-Term Assets $27.50M $16.00M $13.60M
Total Assets $98.80M $120.5M $128.8M
YoY Change -16.27% 56.09% 138.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.200M $2.800M $2.700M
YoY Change 10.0% 55.56% -34.15%
Accrued Expenses $12.50M $10.30M $10.40M
YoY Change 1.63% 10.75% 20.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $700.0K $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $16.20M $14.70M $14.70M
YoY Change 0.62% -2.65% -13.53%
LONG-TERM LIABILITIES
Long-Term Debt $6.300M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.700M $1.000M $1.000M
YoY Change 17.39% 0.0% -47.37%
Total Long-Term Liabilities $2.700M $1.000M $1.000M
YoY Change 17.39% 0.0% -47.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.20M $14.70M $14.70M
Total Long-Term Liabilities $2.700M $1.000M $1.000M
Total Liabilities $25.20M $16.00M $15.70M
YoY Change 36.96% -1.23% -16.93%
SHAREHOLDERS EQUITY
Retained Earnings -$456.7M -$391.1M
YoY Change
Common Stock $530.3M $495.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $73.60M $104.5M $113.1M
YoY Change
Total Liabilities & Shareholders Equity $98.80M $120.5M $128.8M
YoY Change -16.27% 56.09% 138.08%

Cashflow Statement

Concept 2013 Q1 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income -$11.10M -$12.20M -$13.30M
YoY Change -21.28% 24.49% -0.75%
Depreciation, Depletion And Amortization $1.800M $1.100M $1.000M
YoY Change 50.0% 57.14% 66.67%
Cash From Operating Activities -$4.500M -$11.50M -$6.800M
YoY Change -55.88% -14.81% -28.42%
INVESTING ACTIVITIES
Capital Expenditures $1.400M -$3.500M -$1.500M
YoY Change -39.13% 45.83% -28.57%
Acquisitions
YoY Change
Other Investing Activities $14.00M $100.0K -$9.100M
YoY Change 0.0% -100.55% -195.79%
Cash From Investing Activities $12.60M -$3.500M -$10.60M
YoY Change 7.69% -82.84% -245.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.700M
YoY Change 145.45%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities $2.700M 100.0K 900.0K
YoY Change 145.45% -99.7% -43.75%
NET CHANGE
Cash From Operating Activities -$4.500M -11.50M -6.800M
Cash From Investing Activities $12.60M -3.500M -10.60M
Cash From Financing Activities $2.700M 100.0K 900.0K
Net Change In Cash $10.80M -14.90M -16.50M
YoY Change 315.38% 2028.57% 2650.0%
FREE CASH FLOW
Cash From Operating Activities -$4.500M -$11.50M -$6.800M
Capital Expenditures $1.400M -$3.500M -$1.500M
Free Cash Flow -$5.900M -$8.000M -$5.300M
YoY Change -52.8% -27.93% -28.38%

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Revenues
23100000
CY2011Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-12200000
CY2011Q4 us-gaap Operating Expenses
OperatingExpenses
22900000
CY2011Q4 us-gaap Revenues
Revenues
22400000
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-8500000
CY2012Q4 us-gaap Gross Profit
GrossProfit
17500000
CY2012Q4 us-gaap Operating Expenses
OperatingExpenses
25900000
CY2012Q4 us-gaap Revenues
Revenues
33300000

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