$ELSE
ELECTRO SENSORS INC

2019 Q4 Form 10-Q Financial Statement

#000089710119000985 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $1.940M $2.049M $1.850M
YoY Change 4.86% -4.52% 0.54%
Cost Of Revenue $950.0K $975.0K $890.0K
YoY Change 6.74% 2.52% 0.0%
Gross Profit $990.0K $1.074M $960.0K
YoY Change 3.13% -10.13% 2.13%
Gross Profit Margin 51.03% 52.42% 51.89%
Selling, General & Admin $800.0K $898.0K $770.0K
YoY Change 3.9% 9.51% 5.48%
% of Gross Profit 80.81% 83.61% 80.21%
Research & Development $210.0K $194.0K $190.0K
YoY Change 10.53% 10.23% -13.64%
% of Gross Profit 21.21% 18.06% 19.79%
Depreciation & Amortization $90.00K $80.00K $80.00K
YoY Change 12.5% 0.0% 0.0%
% of Gross Profit 9.09% 7.45% 8.33%
Operating Expenses $1.010M $1.092M $950.0K
YoY Change 6.32% 9.64% 0.0%
Operating Profit -$20.00K -$18.00K $10.00K
YoY Change -300.0% -109.05% -200.0%
Interest Expense $80.00K $40.00K $40.00K
YoY Change 100.0% 0.0% 100.0%
% of Operating Profit 400.0%
Other Income/Expense, Net $0.00 $43.00K $0.00
YoY Change 13.16%
Pretax Income $70.00K $25.00K $50.00K
YoY Change 40.0% -89.45% 400.0%
Income Tax -$30.00K $6.000K $0.00
% Of Pretax Income -42.86% 24.0% 0.0%
Net Earnings $100.0K $19.00K $50.00K
YoY Change 100.0% -89.84%
Net Earnings / Revenue 5.15% 0.93% 2.7%
Basic Earnings Per Share $0.01
Diluted Earnings Per Share $29.41K $0.01 $14.71K
COMMON SHARES
Basic Shares Outstanding 3.396M shares 3.396M shares 3.396M shares
Diluted Shares Outstanding 3.399M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.785M $8.900M $8.754M
YoY Change 0.35% 3.46% 0.92%
Cash & Equivalents $8.785M $3.117M $1.057M
Short-Term Investments $0.00 $5.790M $7.697M
Other Short-Term Assets $159.0K $194.0K $155.0K
YoY Change 2.58% 13.45% 9.93%
Inventory $1.695M $1.719M $1.618M
Prepaid Expenses
Receivables $1.036M $965.0K $896.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $11.72M $11.78M $11.47M
YoY Change 2.2% 3.0% 0.96%
LONG-TERM ASSETS
Property, Plant & Equipment $1.063M $1.063M $1.050M
YoY Change 1.24% 2.11% -2.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $200.0K $190.0K
YoY Change 5.26% 11.11% 5.56%
Total Long-Term Assets $1.755M $1.819M $1.807M
YoY Change -2.88% -1.3% -12.11%
TOTAL ASSETS
Total Short-Term Assets $11.72M $11.78M $11.47M
Total Long-Term Assets $1.755M $1.819M $1.807M
Total Assets $13.48M $13.60M $13.28M
YoY Change 1.51% 2.4% -1.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $129.0K $196.0K $116.0K
YoY Change 11.21% 1.55% -34.83%
Accrued Expenses $431.0K $510.0K $405.0K
YoY Change 6.42% 20.0% 6.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00K $10.00K $10.00K
YoY Change 0.0%
Total Short-Term Liabilities $565.0K $741.0K $526.0K
YoY Change 7.41% 19.9% -25.71%
LONG-TERM LIABILITIES
Long-Term Debt $20.00K $20.00K $20.00K
YoY Change 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $19.00K $20.00K $24.00K
YoY Change -20.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $565.0K $741.0K $526.0K
Total Long-Term Liabilities $19.00K $20.00K $24.00K
Total Liabilities $584.0K $761.0K $550.0K
YoY Change 6.18% 22.74% -22.32%
SHAREHOLDERS EQUITY
Retained Earnings $10.52M $10.43M $10.34M
YoY Change 1.81% 1.35% -0.16%
Common Stock $2.369M $2.366M $2.358M
YoY Change 0.47% 0.68% 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.89M $12.83M $12.73M
YoY Change
Total Liabilities & Shareholders Equity $13.48M $13.60M $13.28M
YoY Change 1.51% 2.36% -1.04%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income $100.0K $19.00K $50.00K
YoY Change 100.0% -89.84%
Depreciation, Depletion And Amortization $90.00K $80.00K $80.00K
YoY Change 12.5% 0.0% 0.0%
Cash From Operating Activities -$60.00K $260.0K $160.0K
YoY Change -137.5% 420.0% 6.67%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$170.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $5.750M $2.010M $50.00K
YoY Change 11400.0% 3920.0% -118.52%
Cash From Investing Activities $5.730M $1.830M $50.00K
YoY Change 11360.0% 4475.0% -113.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -60.00K 260.0K 160.0K
Cash From Investing Activities 5.730M 1.830M 50.00K
Cash From Financing Activities -10.00K 0.000 0.000
Net Change In Cash 5.660M 2.090M 210.0K
YoY Change 2595.24% 2222.22% -191.3%
FREE CASH FLOW
Cash From Operating Activities -$60.00K $260.0K $160.0K
Capital Expenditures -$30.00K -$170.0K $0.00
Free Cash Flow -$30.00K $430.0K $160.0K
YoY Change -118.75% 760.0% -33.33%

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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
28000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
7662000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
10654000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
9750000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
150000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
84000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1854000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
67000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
150000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-150000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2060000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-110000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3117000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
853000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Interest Paid Net
InterestPaidNet
1000 USD
us-gaap Interest Paid Net
InterestPaidNet
0 USD
us-gaap Nature Of Operations
NatureOfOperations
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Nature of Business </span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;"> </span></p> <p style="margin: 0pt;"><span style="border-left: none; border-right: none;">Electro-Sensors, Inc. manufactures and markets a complete line of monitoring and control systems for a variety of industrial machinery. The Company uses leading-edge technology to continuously improve its products and expand the number of applications they can be used in, with the goal of manufacturing the industry-preferred product for every market served. The Company sells these products through an internal sales staff, manufacturers’ representatives, and distributors to a wide variety of industries that use the products in a variety of applications to monitor process machinery operations. The Company markets its products to customers located throughout the United States, Canada, Latin America, Europe, and Asia.</span></p>
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1057000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
150000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
17000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Use of Estimates</span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 8pt;"> </span></p> <p style="margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt; margin: 0pt;"><span style="font-family: 'Times New Roman'; font-size: 10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, valuation of deferred tax assets/liabilities, inventory, investments, contingent earn-out, and stock compensation expense. It is at least reasonably possible that these estimates may change in the near term</span>.</span></p>
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
329488 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
330636 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
304783 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
307500 shares
CY2019Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
5730000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
56000 USD
CY2019Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2019Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
5786000 USD
CY2018Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
7701000 USD
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2018Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
7742000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
150000 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 USD

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