2015 Q4 Form 10-Q Financial Statement

#000133349315000067 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $50.14M $38.22M $41.17M
YoY Change 11.47% -7.15% -2.0%
Cost Of Revenue $700.0K $443.0K $745.0K
YoY Change 0.0% -40.54% -7.57%
Gross Profit $49.50M $37.78M $40.42M
YoY Change 11.99% -6.54% -1.89%
Gross Profit Margin 98.73% 98.84% 98.19%
Selling, General & Admin $61.60M $34.60M $36.30M
YoY Change 7.13% -4.68% -10.15%
% of Gross Profit 124.44% 91.58% 89.8%
Research & Development $8.036M $10.30M
YoY Change -22.0% 13.01%
% of Gross Profit 21.27% 25.49%
Depreciation & Amortization $1.920M $1.270M $1.400M
YoY Change 23.87% -9.29% 12.0%
% of Gross Profit 3.88% 3.36% 3.46%
Operating Expenses $61.80M $8.036M $10.30M
YoY Change 6.55% -22.0% 13.01%
Operating Profit -$12.39M $2.925M $3.766M
YoY Change -9.98% -22.33% 834.49%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $100.0K -$27.00K -$13.00K
YoY Change 107.69% -40.91%
Pretax Income -$12.30M $2.898M $3.753M
YoY Change -10.87% -22.78% 885.04%
Income Tax -$200.0K -$737.0K $2.229M
% Of Pretax Income -25.43% 59.39%
Net Earnings -$12.07M $3.635M $1.524M
YoY Change -37.15% 138.52% 775.86%
Net Earnings / Revenue -24.07% 9.51% 3.7%
Basic Earnings Per Share -$0.67 $0.20 $0.09
Diluted Earnings Per Share -$0.67 $0.20 $0.08
COMMON SHARES
Basic Shares Outstanding 18.12M shares 18.09M shares 17.84M shares
Diluted Shares Outstanding 18.24M shares 18.39M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.70M $62.00M $58.10M
YoY Change 21.98% 6.71% -40.59%
Cash & Equivalents $62.71M $62.02M $58.08M
Short-Term Investments
Other Short-Term Assets $5.200M $7.700M $8.300M
YoY Change -21.21% -7.23% -39.86%
Inventory
Prepaid Expenses
Receivables $9.647M $8.832M $5.878M
Other Receivables $6.100M $4.200M $3.600M
Total Short-Term Assets $77.54M $78.50M $72.28M
YoY Change 16.65% 8.61% -38.85%
LONG-TERM ASSETS
Property, Plant & Equipment $7.364M $8.091M $10.53M
YoY Change -23.61% -23.13% -1.63%
Goodwill $14.10M $14.10M $14.10M
YoY Change 0.0% 0.0%
Intangibles $9.620M $9.880M $11.24M
YoY Change -10.71% -12.11%
Long-Term Investments
YoY Change
Other Assets $4.697M $4.419M $6.019M
YoY Change -17.29% -26.58% -41.56%
Total Long-Term Assets $35.78M $36.49M $48.08M
YoY Change -10.98% -24.11% 12.07%
TOTAL ASSETS
Total Short-Term Assets $77.54M $78.50M $72.28M
Total Long-Term Assets $35.78M $36.49M $48.08M
Total Assets $113.3M $115.0M $120.4M
YoY Change 6.24% -4.46% -25.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.012M $2.069M $2.768M
YoY Change -49.47% -25.25% -34.1%
Accrued Expenses $3.448M $12.80M $10.60M
YoY Change 15.09% 20.75% -26.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.94M $22.40M $18.48M
YoY Change 19.44% 21.21% -29.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $344.0K $5.800M $6.200M
YoY Change 44.54% -6.45% 0.0%
Total Long-Term Liabilities $4.962M $5.817M $6.195M
YoY Change -23.06% -6.1% -0.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.94M $22.40M $18.48M
Total Long-Term Liabilities $4.962M $5.817M $6.195M
Total Liabilities $36.90M $28.21M $24.67M
YoY Change 11.19% 14.35% -23.62%
SHAREHOLDERS EQUITY
Retained Earnings $9.498M $21.56M $33.46M
YoY Change -33.4% -35.55%
Common Stock $29.00K $29.00K $29.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $200.0M $200.0M $200.0M
YoY Change 0.0% 0.0%
Treasury Stock Shares 11.03M shares 10.66M shares
Shareholders Equity $236.2M $86.77M $95.69M
YoY Change
Total Liabilities & Shareholders Equity $113.3M $115.0M $120.4M
YoY Change 6.24% -4.46% -25.29%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$12.07M $3.635M $1.524M
YoY Change -37.15% 138.52% 775.86%
Depreciation, Depletion And Amortization $1.920M $1.270M $1.400M
YoY Change 23.87% -9.29% 12.0%
Cash From Operating Activities $1.230M $10.92M $10.96M
YoY Change -130.15% -0.36% 26.27%
INVESTING ACTIVITIES
Capital Expenditures -$660.0K -$910.0K -$1.000M
YoY Change 153.85% -9.0% -65.75%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$660.0K -$910.0K -$1.000M
YoY Change 153.85% -9.0% -65.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 130.0K 180.0K -22.27M
YoY Change -105.6% -100.81% -1076.75%
NET CHANGE
Cash From Operating Activities 1.230M 10.92M 10.96M
Cash From Investing Activities -660.0K -910.0K -1.000M
Cash From Financing Activities 130.0K 180.0K -22.27M
Net Change In Cash 700.0K 10.19M -12.31M
YoY Change -110.51% -182.78% -253.11%
FREE CASH FLOW
Cash From Operating Activities $1.230M $10.92M $10.96M
Capital Expenditures -$660.0K -$910.0K -$1.000M
Free Cash Flow $1.890M $11.83M $11.96M
YoY Change -149.48% -1.09% 3.1%

Facts In Submission

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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2335000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5859000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12472000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
1524000 USD
us-gaap Net Income Loss
NetIncomeLoss
2994000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
3635000 USD
us-gaap Net Income Loss
NetIncomeLoss
7303000 USD
CY2014Q4 us-gaap Noncurrent Assets
NoncurrentAssets
40189000 USD
CY2015Q3 us-gaap Noncurrent Assets
NoncurrentAssets
36486000 USD
CY2015Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
50 state
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3766000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
7004000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2925000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6740000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
5679000 USD
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4419000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
18000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
10000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
15000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2996000 USD
CY2015Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3846000 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-13000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-81000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-27000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
50000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
3939000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
4500000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3335000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2335000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6474000 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7265000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3902000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1326000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9640000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8091000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
57000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
57000 USD
CY2014Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
1767000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
4856000 USD
CY2015Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
1225000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
4250000 USD
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2015Q3 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
4541000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1200000 USD
CY2014Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
523000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1729000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y3M0D
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
700000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1800000 USD
CY2015Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
300000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
0.00 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
489000 USD
CY2015Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
257000 USD
CY2015Q3 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
232000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
14261000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
21564000 USD
CY2014Q3 us-gaap Revenues
Revenues
41168000 USD
us-gaap Revenues
Revenues
134702000 USD
CY2015Q3 us-gaap Revenues
Revenues
38224000 USD
us-gaap Revenues
Revenues
139405000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6585000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5434000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.463
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.636
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0140
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0115
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.50
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.70
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y2M10D
CY2015Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
351000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1184000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
73478000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
86773000 USD
CY2014Q4 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
10945607 shares
CY2015Q3 us-gaap Treasury Stock Number Of Shares Held
TreasuryStockNumberOfSharesHeld
11018379 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
199998000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
199998000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-800000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18394000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19341000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18240000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18079000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17836000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18551000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18093000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17969000 shares

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