2020 Q4 Form 10-Q Financial Statement

#000165495420012021 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $55.71M $68.73M $60.69M
YoY Change -18.95% 21.41% 5.81%
Cost Of Revenue $42.32M $50.65M $45.75M
YoY Change -16.45% 20.94% 6.06%
Gross Profit $13.39M $18.08M $14.94M
YoY Change -25.94% 22.74% 5.06%
Gross Profit Margin 24.04% 26.31% 24.61%
Selling, General & Admin $8.537M $10.85M $8.392M
YoY Change -21.32% 30.57% 12.31%
% of Gross Profit 63.75% 60.01% 56.18%
Research & Development $556.5K $780.0K $825.4K
YoY Change -28.66% -58.06% -58.83%
% of Gross Profit 4.16% 4.31% 5.53%
Depreciation & Amortization $2.090M $2.640M $1.420M
YoY Change -20.83% 42.7% 21.37%
% of Gross Profit 15.61% 14.6% 9.51%
Operating Expenses $9.093M $11.63M $9.217M
YoY Change -21.81% 14.36% -2.74%
Operating Profit $4.297M $6.450M $5.720M
YoY Change -33.38% 41.45% 20.67%
Interest Expense -$650.0K -$880.0K $420.4K
YoY Change -26.14% 214.29% 35.38%
% of Operating Profit -15.13% -13.64% 7.35%
Other Income/Expense, Net $370.0K -$180.0K $188.6K
YoY Change -305.56% -169.23% -17.56%
Pretax Income $3.950M $5.380M $5.489M
YoY Change -26.58% 18.5% 17.82%
Income Tax $970.0K $400.0K $1.296M
% Of Pretax Income 24.56% 7.43% 23.6%
Net Earnings $2.985M $4.970M $4.193M
YoY Change -39.95% 13.47% 11.32%
Net Earnings / Revenue 5.36% 7.23% 6.91%
Basic Earnings Per Share $0.51 $0.67
Diluted Earnings Per Share $0.51 $786.4K $0.67
COMMON SHARES
Basic Shares Outstanding 6.238M shares 6.236M shares
Diluted Shares Outstanding 6.239M shares 6.254M shares

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.60M $18.00M $12.00M
YoY Change 8.89% 29.5% 5.26%
Cash & Equivalents $19.55M $18.00M $11.98M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $4.500M $5.400M $4.400M
YoY Change -16.67% 74.19% 22.22%
Inventory $49.45M $54.60M $52.76M
Prepaid Expenses
Receivables $34.17M $37.94M $43.54M
Other Receivables $200.0K $0.00 $1.100M
Total Short-Term Assets $107.9M $115.9M $113.8M
YoY Change -6.95% 14.58% 17.7%
LONG-TERM ASSETS
Property, Plant & Equipment $40.06M $41.00M $40.84M
YoY Change -2.29% 37.34% 37.52%
Goodwill $77.79M $79.52M $78.97M
YoY Change -2.17% 128.24%
Intangibles $5.404M $5.404M $5.479M
YoY Change 0.0% 46.61%
Long-Term Investments
YoY Change
Other Assets $1.400M
YoY Change -36.36%
Total Long-Term Assets $163.4M $164.7M $165.4M
YoY Change -0.81% 105.76% 103.72%
TOTAL ASSETS
Total Short-Term Assets $107.9M $115.9M $113.8M
Total Long-Term Assets $163.4M $164.7M $165.4M
Total Assets $271.3M $280.7M $279.2M
YoY Change -3.35% 54.85% 56.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.39M $19.96M $20.46M
YoY Change -12.88% 7.91% 20.34%
Accrued Expenses $6.800M $6.800M $9.700M
YoY Change 0.0% -6.85% 11.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.813M $5.188M $5.188M
YoY Change 12.05% 123.13% 173.04%
Total Short-Term Liabilities $33.35M $34.90M $35.36M
YoY Change -4.43% 15.75% 19.06%
LONG-TERM LIABILITIES
Long-Term Debt $89.11M $93.58M $94.85M
YoY Change -4.78% 255.13% 250.01%
Other Long-Term Liabilities $2.465M $2.465M $1.704M
YoY Change 0.0% 596.68% -92.96%
Total Long-Term Liabilities $91.57M $96.04M $96.56M
YoY Change -4.66% 259.66% 88.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.35M $34.90M $35.36M
Total Long-Term Liabilities $91.57M $96.04M $96.56M
Total Liabilities $124.9M $175.2M $131.9M
YoY Change -28.71% 208.21% 59.51%
SHAREHOLDERS EQUITY
Retained Earnings $121.8M $120.2M $115.9M
YoY Change 1.31% 9.59%
Common Stock $31.30M $30.65M $30.44M
YoY Change 2.13% 2.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) -$20.54M -$20.17M $20.17M
YoY Change 1.83% -200.0%
Treasury Stock Shares 2.750M shares 2.735M shares $2.735M
Shareholders Equity $106.1M $105.4M $103.6M
YoY Change
Total Liabilities & Shareholders Equity $271.3M $280.7M $279.2M
YoY Change -3.35% 54.85% 56.96%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $2.985M $4.970M $4.193M
YoY Change -39.95% 13.47% 11.32%
Depreciation, Depletion And Amortization $2.090M $2.640M $1.420M
YoY Change -20.83% 42.7% 21.37%
Cash From Operating Activities $9.330M $10.45M $3.800M
YoY Change -10.72% 80.8% 155.03%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$3.540M -$640.0K
YoY Change -77.4% 183.2% -56.76%
Acquisitions
YoY Change
Other Investing Activities -$7.170M $860.0K -$81.17M
YoY Change -933.72% 377.78% 44994.44%
Cash From Investing Activities -$7.970M -$2.680M -$81.80M
YoY Change 197.39% 148.15% 4857.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.850M -1.960M 76.58M
YoY Change -5.61% 7.69% -1134.86%
NET CHANGE
Cash From Operating Activities 9.330M 10.45M 3.800M
Cash From Investing Activities -7.970M -2.680M -81.80M
Cash From Financing Activities -1.850M -1.960M 76.58M
Net Change In Cash -490.0K 5.810M -1.420M
YoY Change -108.43% 101.74% -81.22%
FREE CASH FLOW
Cash From Operating Activities $9.330M $10.45M $3.800M
Capital Expenditures -$800.0K -$3.540M -$640.0K
Free Cash Flow $10.13M $13.99M $4.440M
YoY Change -27.59% 99.0% 49.49%

Facts In Submission

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CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020Q4 us-gaap Stockholders Equity
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StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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east Unrecognized Pension And Postretirement Benefits
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us-gaap Goodwill Impairment Loss
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us-gaap Goodwill Impairment Loss
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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east Payments For Proceeds From Marketable Securities
PaymentsForProceedsFromMarketableSecurities
7741 USD
east Payments For Proceeds From Marketable Securities
PaymentsForProceedsFromMarketableSecurities
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east Business Disposition
BusinessDisposition
1378602 USD
east Business Disposition
BusinessDisposition
0 USD
us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
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us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
445211 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
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PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-7317684 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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east Proceeds From Long Term Borrowings
ProceedsFromLongTermBorrowings
0 USD
east Proceeds From Long Term Borrowings
ProceedsFromLongTermBorrowings
100000000 USD
us-gaap Repayments Of Long Term Debt
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east Operating Lease Liability Obtained In Exchange For Right Of Use Asset
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IncrementalCommonSharesAttributableToStockAppreciationRights
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IncrementalCommonSharesAttributableToStockAppreciationRights
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IssuanceOfNoteReceivable
0 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
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us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
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PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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ProFormaWeightedAverageSharesOutstandingDiluted
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CY2019Q3 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
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CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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10280814 USD
east Operating Lease Liability Obtained In Exchange For Right Of Use Asset
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136619 USD
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
6235747 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
6233894 shares
east Incremental Common Shares Attributable To Stock Appreciation Rights
IncrementalCommonSharesAttributableToStockAppreciationRights
1722 shares
CY2019Q3 east Incremental Common Shares Attributable To Stock Appreciation Rights
IncrementalCommonSharesAttributableToStockAppreciationRights
17996 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6237758 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6236225 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6239480 shares
CY2020Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.50 pure
CY2020Q4 east Remaining Balance Of Term Loan Rate
RemainingBalanceOfTermLoanRate
0.0294 pure
CY2020Q4 east Remaining Balance Of Term Loan
RemainingBalanceOfTermLoan
47500000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2019Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
188623 USD
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6254221 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6237469 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6251890 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3862 pure
CY2020Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
15600494 USD
CY2019Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
17225469 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9971046 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
11009648 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
23877072 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
26364149 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
49448612 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
54599266 USD
CY2020Q4 us-gaap Goodwill Fair Value Disclosure
GoodwillFairValueDisclosure
77800000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
4000000.0 USD
east Lease Extension Option Term
LeaseExtensionOptionTerm
12
east Number Of Operating Leases
NumberOfOperatingLeases
36 integer
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2422753 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3233 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0248 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0026 pure
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
969024 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3954449 USD
CY2020Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
71172 shares
east Weighted Average Remaining Contractualtermlife
WeightedAverageRemainingContractualtermlife
1.5
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
20.45
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
0.00
CY2020Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
25000 shares
east Weighted Average Remaining Contractual Life
WeightedAverageRemainingContractualLife
1.6
CY2020Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
0
CY2020Q4 east Exercisable In Shares
ExercisableInShares
0 shares
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
558000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10828848 USD
CY2018Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
200000 shares
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
179964582 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
183015723 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4235812 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5720411 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
254122 USD
CY2019Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
205120 USD
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1354040 USD
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1281688 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
65805558 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
60692645 USD
CY2020Q3 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
7173000 USD
CY2020Q3 us-gaap Goodwill
Goodwill
2302000 USD
CY2020Q4 us-gaap Assets Net
AssetsNet
3937000 USD

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