$ELA
Envela Corp

2016 Q4 Form 10-K Financial Statement

#000114420417020541 Filed on April 14, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 2015 Q4
Revenue $48.33M
YoY Change -20.67%
Cost Of Revenue $40.02M
YoY Change -21.83%
Gross Profit $8.308M
YoY Change -14.58%
Gross Profit Margin 17.19%
Selling, General & Admin $10.35M
YoY Change -7.21%
% of Gross Profit 124.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $110.0K $403.7K $240.0K
YoY Change -54.17% -24.57% 166.67%
% of Gross Profit 4.86%
Operating Expenses $11.91M
YoY Change 1.89%
Operating Profit -$3.598M
YoY Change 83.68%
Interest Expense $364.5K
YoY Change 4.76%
% of Operating Profit
Other Income/Expense, Net -$360.3K
YoY Change 6.0%
Pretax Income -$3.958M
YoY Change 72.19%
Income Tax $47.92K
% Of Pretax Income
Net Earnings -$4.006M
YoY Change 77.85%
Net Earnings / Revenue -8.29%
Basic Earnings Per Share -$0.30
Diluted Earnings Per Share -$0.30
COMMON SHARES
Basic Shares Outstanding 12.39M shares 13.21M shares 12.30M shares
Diluted Shares Outstanding 13.21M shares

Balance Sheet

Concept 2016 Q4 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.410M $1.412M $1.750M
YoY Change -19.43% -19.43% -19.72%
Cash & Equivalents $1.412M $1.412M $1.753M
Short-Term Investments
Other Short-Term Assets $60.00K $55.03K $110.0K
YoY Change -45.45% -48.35% -26.67%
Inventory $9.384M $9.384M $9.566M
Prepaid Expenses $55.03K $106.5K
Receivables $245.1K $285.7K $229.8K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.14M $11.14M $11.65M
YoY Change -4.44% -4.44% -18.99%
LONG-TERM ASSETS
Property, Plant & Equipment $1.665M $1.665M $4.281M
YoY Change -61.11% -61.11% -1.93%
Goodwill
YoY Change
Intangibles $13.78K
YoY Change -50.0%
Long-Term Investments
YoY Change
Other Assets $110.6K $110.6K $204.2K
YoY Change -45.84% -45.84% 59.11%
Total Long-Term Assets $1.776M $1.776M $4.499M
YoY Change -60.53% -60.53% -0.49%
TOTAL ASSETS
Total Short-Term Assets $11.14M $11.14M $11.65M
Total Long-Term Assets $1.776M $1.776M $4.499M
Total Assets $12.91M $12.91M $16.15M
YoY Change -20.07% -20.07% -14.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.210M $5.210M $5.690M
YoY Change -8.44% -8.41% -2.4%
Accrued Expenses $1.210M $1.210M $1.174M
YoY Change 3.02% 3.02% -23.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $12.59K $1.590M
YoY Change -100.0% -99.21% 1113.35%
Total Short-Term Liabilities $7.005M $7.005M $9.966M
YoY Change -29.7% -29.7% 11.95%
LONG-TERM LIABILITIES
Long-Term Debt $1.074K $1.070K $13.66K
YoY Change -92.14% -99.95% -99.15%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.074K $1.070K $13.66K
YoY Change -92.14% -99.95% -99.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.005M $7.005M $9.966M
Total Long-Term Liabilities $1.074K $1.070K $13.66K
Total Liabilities $7.006M $7.006M $12.28M
YoY Change -42.96% -42.96% -4.21%
SHAREHOLDERS EQUITY
Retained Earnings -$34.52M -$30.52M
YoY Change 13.13% 7.97%
Common Stock $269.1K $123.0K
YoY Change 118.81% 0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.906M $5.906M $3.871M
YoY Change
Total Liabilities & Shareholders Equity $12.91M $12.91M $16.15M
YoY Change -20.07% -20.07% -14.57%

Cashflow Statement

Concept 2016 Q4 2016 2015 Q4
OPERATING ACTIVITIES
Net Income -$4.006M
YoY Change 77.85%
Depreciation, Depletion And Amortization $110.0K $403.7K $240.0K
YoY Change -54.17% -24.57% 166.67%
Cash From Operating Activities $440.0K $381.6K $650.0K
YoY Change -32.31% 156.33% 132.14%
INVESTING ACTIVITIES
Capital Expenditures -$290.0K $1.180M -$200.0K
YoY Change 45.0% 169.94% 900.0%
Acquisitions
YoY Change
Other Investing Activities $130.0K $2.250M
YoY Change
Cash From Investing Activities -$170.0K $1.070M -$200.0K
YoY Change -15.0% -344.87% 900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -$1.602M -30.00K
YoY Change -100.0% 1015.94% 0.0%
NET CHANGE
Cash From Operating Activities 440.0K $381.6K 650.0K
Cash From Investing Activities -170.0K $1.070M -200.0K
Cash From Financing Activities 0.000 -$1.602M -30.00K
Net Change In Cash 270.0K -$149.8K 420.0K
YoY Change -35.71% -65.3% 82.61%
FREE CASH FLOW
Cash From Operating Activities $440.0K $381.6K $650.0K
Capital Expenditures -$290.0K $1.180M -$200.0K
Free Cash Flow $730.0K -$798.2K $850.0K
YoY Change -14.12% 176.96% 183.33%

Facts In Submission

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0
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.95
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.25
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.03
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.95
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.03
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
101782 USD
CY2015 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36882 USD
CY2016 dei Document Type
DocumentType
10-K
CY2016 dei Amendment Flag
AmendmentFlag
false
CY2016 dei Document Period End Date
DocumentPeriodEndDate
2016-12-31
CY2016 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2016 dei Entity Registrant Name
EntityRegistrantName
DGSE COMPANIES INC
CY2016 dei Entity Central Index Key
EntityCentralIndexKey
0000701719
CY2016 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2016 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2016 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q2 dei Entity Public Float
EntityPublicFloat
5595030 USD
CY2016 dei Trading Symbol
TradingSymbol
DGSE
CY2017Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
26905631 shares
CY2016Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
220007 USD
CY2016Q3 dgse Net Proceeds From Sale Of Buildings
NetProceedsFromSaleOfBuildings
604615 USD
CY2016 dgse Equity Method Investment Ownership Percentage Description
EquityMethodInvestmentOwnershipPercentageDescription
The General Partner receives a one percent ownership interest of the Fund, and is paid 2% carried interest on assets under management by the Fund, and 20% of net earnings before distributions to the limited partners.
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
78028 USD
CY2015 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2250000 USD
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26905631 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26905631 shares
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12296446 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12296446 shares
CY2016 us-gaap Operating Expenses
OperatingExpenses
11905408 USD
CY2015 us-gaap Operating Expenses
OperatingExpenses
11684416 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1156135 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-360337 USD
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-339948 USD
CY2016 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
2438910 USD
CY2016 dgse Stock Issued During Period Value For Settlement Of Payables
StockIssuedDuringPeriodValueForSettlementOfPayables
3500000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3607787 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5602020 USD
CY2016Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
1665103 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
3120918 USD
CY2016Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
0 USD
CY2015Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
-4687 USD
CY2016Q3 us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
2250000 USD
CY2016 us-gaap Operating Loss Carryforwards Expiration Date
OperatingLossCarryforwardsExpirationDate
2026-01-01
CY2016Q3 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
66645 USD
CY2016Q3 us-gaap Income Tax Examination Liability Refund Adjustment From Settlement With Taxing Authority
IncomeTaxExaminationLiabilityRefundAdjustmentFromSettlementWithTaxingAuthority
286652 USD
CY2016Q4 us-gaap Share Price
SharePrice
1.24
CY2014Q1 us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
1 pure
CY2016 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-190809 USD
CY2015 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
14996 USD
CY2016Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
40627 USD
CY2015Q4 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
169136 USD
CY2016Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
4107425 USD
CY2015Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
4176037 USD
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
262411 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-809021 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-128509 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
134793 USD
CY2016 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-68612 USD
CY2015 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
454863 USD
CY2016 us-gaap Stock Issued1
StockIssued1
3500000 USD
CY2015 us-gaap Stock Issued1
StockIssued1
0 USD
CY2016 dgse Stock Issued For Settlement Of Debt
StockIssuedForSettlementOfDebt
2438910 USD
CY2015 dgse Stock Issued For Settlement Of Debt
StockIssuedForSettlementOfDebt
0 USD
CY2016Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1015000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
590000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
5000000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
15
CY2016Q4 us-gaap Area Of Land
AreaOfLand
20456 sqft
CY2015Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2142530 USD
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Use of Estimates</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. GAAP 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.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
12772 USD
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
12772 USD
CY2016 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
CY2015 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
90800 USD
CY2015Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
124160 USD
CY2016Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
285722 USD
CY2016 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
148475 USD
CY2015 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
33743 USD

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