$ELA
Envela Corp

2013 Q4 Form 10-K Financial Statement

#000114420415018738 Filed on March 26, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 2012 Q4
Revenue $87.10M
YoY Change -31.89%
Cost Of Revenue $72.89M
YoY Change -29.64%
Gross Profit $14.21M
YoY Change -41.5%
Gross Profit Margin 16.31%
Selling, General & Admin $14.36M
YoY Change -42.09%
% of Gross Profit 101.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.00K $353.0K $250.0K
YoY Change -68.0% -49.31% 78.57%
% of Gross Profit 2.48%
Operating Expenses $14.36M
YoY Change -42.09%
Operating Profit -$509.2K
YoY Change -58.09%
Interest Expense $261.2K
YoY Change -14.77%
% of Operating Profit
Other Income/Expense, Net -$154.5K
YoY Change -37.29%
Pretax Income -$663.6K
YoY Change -54.58%
Income Tax $57.17K
% Of Pretax Income
Net Earnings -$2.659M
YoY Change 15.06%
Net Earnings / Revenue -3.05%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$0.22
COMMON SHARES
Basic Shares Outstanding 12.18M shares 12.18M shares 12.18M
Diluted Shares Outstanding 12.18M shares

Balance Sheet

Concept 2013 Q4 2013 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.640M $3.210M $4.910M
YoY Change -46.23% -34.62% -17.89%
Cash & Equivalents $2.638M $3.210M $3.060M
Short-Term Investments
Other Short-Term Assets $3.850M $240.0K $320.0K
YoY Change 1103.13% -25.0% -75.94%
Inventory $9.992M $12.92M $11.93M
Prepaid Expenses $138.6K $321.7K
Receivables $162.7K $270.0K $718.5K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $16.64M $16.64M $17.88M
YoY Change -6.94% -6.94% -8.81%
LONG-TERM ASSETS
Property, Plant & Equipment $4.589M $5.070M $4.850M
YoY Change -5.39% 4.54% 8.28%
Goodwill
YoY Change
Intangibles $41.35K $3.170M
YoY Change -98.7% -6.7%
Long-Term Investments
YoY Change
Other Assets $189.4K $240.0K $211.1K
YoY Change -10.25% 14.29% 31.51%
Total Long-Term Assets $8.261M $8.260M $8.231M
YoY Change 0.37% 0.36% 2.41%
TOTAL ASSETS
Total Short-Term Assets $16.64M $16.64M $17.88M
Total Long-Term Assets $8.261M $8.260M $8.231M
Total Assets $24.90M $24.90M $26.11M
YoY Change -4.64% -4.63% -5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.540M $5.670M $3.560M
YoY Change 55.62% 59.27% 137.33%
Accrued Expenses $1.730M $2.140M $1.250M
YoY Change 38.33% 71.2% -58.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $122.5K $130.0K $146.9K
YoY Change -16.61% -27.78% -67.47%
Total Short-Term Liabilities $10.34M $10.34M $7.605M
YoY Change 35.95% 36.05% -23.02%
LONG-TERM LIABILITIES
Long-Term Debt $1.758M $4.140M $1.843M
YoY Change -4.62% -23.76% -24.69%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.758M $4.140M $1.843M
YoY Change -4.62% -23.76% -24.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.34M $10.34M $7.605M
Total Long-Term Liabilities $1.758M $4.140M $1.843M
Total Liabilities $14.48M $14.48M $13.03M
YoY Change 11.12% 11.13% 5.46%
SHAREHOLDERS EQUITY
Retained Earnings -$23.74M -$21.08M
YoY Change 12.61% 12.31%
Common Stock $121.8K $121.8K
YoY Change 0.0% 0.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.42M $10.42M $13.08M
YoY Change
Total Liabilities & Shareholders Equity $24.90M $24.90M $26.11M
YoY Change -4.64% -4.63% -5.55%

Cashflow Statement

Concept 2013 Q4 2013 2012 Q4
OPERATING ACTIVITIES
Net Income -$2.659M
YoY Change 15.06%
Depreciation, Depletion And Amortization $80.00K $353.0K $250.0K
YoY Change -68.0% -49.31% 78.57%
Cash From Operating Activities $1.810M $330.0K $2.230M
YoY Change -18.83% -169.45% 48.67%
INVESTING ACTIVITIES
Capital Expenditures $130.0K $486.5K -$60.00K
YoY Change -316.67% -48.14% -79.31%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $130.0K -$640.0K -$60.00K
YoY Change -316.67% -27.18% -79.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.250M -1.390M -40.00K
YoY Change 3025.0% 272.42% -95.65%
NET CHANGE
Cash From Operating Activities 1.810M 330.0K 2.230M
Cash From Investing Activities 130.0K -640.0K -60.00K
Cash From Financing Activities -1.250M -1.390M -40.00K
Net Change In Cash 690.0K -1.700M 2.130M
YoY Change -67.61% -1.58% 634.48%
FREE CASH FLOW
Cash From Operating Activities $1.810M $330.0K $2.230M
Capital Expenditures $130.0K $486.5K -$60.00K
Free Cash Flow $1.680M -$156.5K $2.290M
YoY Change -26.64% -88.93% 27.93%

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CY2014 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
91103 USD
CY2013 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
141883 USD
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12175584 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12238846 shares
CY2014 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.32
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5347500 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.20
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
5030000 shares
CY2014Q4 us-gaap Share Price
SharePrice
1.22
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.20
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5372500 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.14
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
317500 shares
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.50
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
25000 shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.20
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
13083513 USD
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
3919596 USD
CY2013Q4 us-gaap Long Term Debt
LongTermDebt
4141186 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5030000 shares
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><b>Use of Estimates</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The preparation of financial statements in conformity with generally accepted accounting principles requires the use of certain estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including depreciation of property and equipment and amortization or impairment of intangible assets. The Company evaluates its estimates and assumptions on an ongoing basis and relies on historical experience and various other factors that it believes to be reasonable under the circumstances to determine such estimates. Because uncertainties with respect to estimates and assumptions are inherent in the preparation of financial statements, actual results could differ from these estimates.</p> </div>
CY2014Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.93
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5030000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.93
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5347500 shares
CY2014Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
2303359 USD
CY2013Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
2383359 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
142532 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1601591 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2315949 USD
CY2014Q4 dgse Bullion
Bullion
493368 USD
CY2014Q4 dgse Jewelry
Jewelry
9755580 USD
CY2013Q4 dgse Jewelry
Jewelry
7593041 USD
CY2014Q4 us-gaap Other Inventory Scrap
OtherInventoryScrap
536181 USD
CY2013Q4 us-gaap Other Inventory Scrap
OtherInventoryScrap
514622 USD
CY2013Q4 dgse Bullion
Bullion
933988 USD
CY2014Q4 dgse Rare Coins And Other Collectibles
RareCoinsAndOtherCollectibles
359028 USD
CY2013Q4 dgse Rare Coins And Other Collectibles
RareCoinsAndOtherCollectibles
950505 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5398969 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5268557 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2193672 USD
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1840332 USD
CY2014Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
3205297 USD
CY2013Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
3428225 USD
CY2014Q4 us-gaap Land
Land
1160470 USD
CY2013Q4 us-gaap Land
Land
1160470 USD
CY2014 us-gaap Depreciation
Depreciation
353340 USD
CY2013 us-gaap Depreciation
Depreciation
324958 USD
CY2014Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
4062128 USD
CY2013Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
4274813 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2056 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
USD
CY2014 us-gaap Sales Returns And Allowances Goods
SalesReturnsAndAllowancesGoods
29814 USD
CY2014 dei Entity Registrant Name
EntityRegistrantName
DGSE COMPANIES INC
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0000701719
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2014Q2 dei Entity Public Float
EntityPublicFloat
7355657 USD
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
12253846 shares
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 us-gaap Operating Loss Carryforwards Expiration Date
OperatingLossCarryforwardsExpirationDate
2024-01-01
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
83600 USD
CY2014Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
49729 USD
CY2013Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
3711740 USD
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Long Lived Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationLongLivedAssetsNoncurrent
USD
CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Long Lived Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationLongLivedAssetsNoncurrent
3441765 USD
CY2014Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
5831736 USD
CY2013Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
5535624 USD
CY2014Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1541552 USD
CY2013Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1729528 USD
CY2014Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
1082778 USD
CY2013Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
2349943 USD
CY2014Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
303564 USD
CY2013Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
589899 USD
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12238846 shares
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
100000 USD
CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
86250 USD
CY2014 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
USD
CY2014 dgse Transfer Of Inventory From Discontinued Operations
TransferOfInventoryFromDiscontinuedOperations
1524864 USD
CY2013 dgse Transfer Of Inventory From Discontinued Operations
TransferOfInventoryFromDiscontinuedOperations
USD
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2013 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
83000 USD
CY2014 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
120000 USD
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
72773 USD
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
USD
CY2014 dgse Transfer Of Equipment From Discontinued Operations
TransferOfEquipmentFromDiscontinuedOperations
83247 USD
CY2013 dgse Transfer Of Equipment From Discontinued Operations
TransferOfEquipmentFromDiscontinuedOperations
USD

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