2023 Q1 Form 10-Q Financial Statement

#000117494723000192 Filed on February 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $94.07M $82.64M
YoY Change 56.67% -33.59%
Cost Of Revenue $67.49M $57.83M
YoY Change 57.02% -35.75%
Gross Profit $26.58M $24.81M
YoY Change 55.77% -27.97%
Gross Profit Margin 28.25% 30.02%
Selling, General & Admin $22.11M $21.17M
YoY Change 31.05% -31.29%
% of Gross Profit 83.2% 85.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.497M $1.466M
YoY Change 13.5% 18.23%
% of Gross Profit 5.63% 5.91%
Operating Expenses $22.11M $21.17M
YoY Change 31.05% -31.29%
Operating Profit $4.465M $3.644M
YoY Change 2275.0% 0.11%
Interest Expense $717.0K $625.0K
YoY Change 473.6% -335.85%
% of Operating Profit 16.06% 17.15%
Other Income/Expense, Net
YoY Change
Pretax Income $3.748M $3.019M
YoY Change 5849.21% -10.55%
Income Tax $998.0K $795.0K
% Of Pretax Income 26.63% 26.33%
Net Earnings $2.750M $2.224M
YoY Change 6775.0% 321.21%
Net Earnings / Revenue 2.92% 2.69%
Basic Earnings Per Share $0.19 $0.16
Diluted Earnings Per Share $0.19 $0.15
COMMON SHARES
Basic Shares Outstanding 12.57M shares 12.55M shares
Diluted Shares Outstanding 12.95K shares 12.65K shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.022M $4.383M
YoY Change -28.23% -27.0%
Cash & Equivalents $4.022M $4.383M
Short-Term Investments
Other Short-Term Assets $6.928M $6.820M
YoY Change -0.36% -2.18%
Inventory $62.93M $60.09M
Prepaid Expenses
Receivables $56.49M $47.36M
Other Receivables $0.00 $0.00
Total Short-Term Assets $132.6M $120.9M
YoY Change 49.21% 60.2%
LONG-TERM ASSETS
Property, Plant & Equipment $12.61M $13.12M
YoY Change 3.83% -25.87%
Goodwill $73.10M $72.90M
YoY Change 10.98%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.334M $7.925M
YoY Change 20.26% 12.64%
Total Long-Term Assets $126.9M $125.9M
YoY Change 9.07% 13.04%
TOTAL ASSETS
Total Short-Term Assets $132.6M $120.9M
Total Long-Term Assets $126.9M $125.9M
Total Assets $259.4M $246.7M
YoY Change 26.45% 32.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.59M $42.18M
YoY Change 69.24% 59.95%
Accrued Expenses $12.36M $10.77M
YoY Change 39.16% 25.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $81.29M $75.26M
YoY Change 44.24% 45.81%
LONG-TERM LIABILITIES
Long-Term Debt $38.86M $36.85M
YoY Change 62.5% 147.33%
Other Long-Term Liabilities $6.203M $5.051M
YoY Change 7.24% -1.52%
Total Long-Term Liabilities $38.86M $36.85M
YoY Change 62.5% 147.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.29M $75.26M
Total Long-Term Liabilities $38.86M $36.85M
Total Liabilities $131.2M $122.0M
YoY Change 45.48% 59.96%
SHAREHOLDERS EQUITY
Retained Earnings $30.71M $27.96M
YoY Change 43.63% 31.02%
Common Stock $100.7M $99.90M
YoY Change 4.17% 8.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.195M $3.136M
YoY Change 4.07% 4.29%
Treasury Stock Shares 131.1K shares
Shareholders Equity $128.2M $124.7M
YoY Change
Total Liabilities & Shareholders Equity $259.4M $246.7M
YoY Change 26.45% 32.09%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $2.750M $2.224M
YoY Change 6775.0% 321.21%
Depreciation, Depletion And Amortization $1.497M $1.466M
YoY Change 13.5% 18.23%
Cash From Operating Activities -$1.776M $1.333M
YoY Change -64.88% -85.88%
INVESTING ACTIVITIES
Capital Expenditures $453.0K $1.067M
YoY Change -141.45% -194.84%
Acquisitions
YoY Change
Other Investing Activities -$73.00K -$650.0K
YoY Change -97.71%
Cash From Investing Activities -$526.0K -$1.717M
YoY Change -87.71% 52.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.941M 993.0K
YoY Change -78.28% -119.54%
NET CHANGE
Cash From Operating Activities -1.776M 1.333M
Cash From Investing Activities -526.0K -1.717M
Cash From Financing Activities 1.941M 993.0K
Net Change In Cash -361.0K 609.0K
YoY Change -9.75% -81.15%
FREE CASH FLOW
Cash From Operating Activities -$1.776M $1.333M
Capital Expenditures $453.0K $1.067M
Free Cash Flow -$2.229M $266.0K
YoY Change -43.77% -97.48%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4872000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-997000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1838000 usd
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1973000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1874000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3712000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
32000000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
25000000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
23000000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
22000000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
66000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
142000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
59000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
59000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8993000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2917000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
409000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3974000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6057000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4383000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6004000 usd
us-gaap Interest Paid Net
InterestPaidNet
942000 usd
us-gaap Interest Paid Net
InterestPaidNet
238000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
888000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
261000 usd
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
503 shares
CY2022Q3 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1200000 usd
CY2022Q4 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
102000 usd
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
102000 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
639000 usd
evi Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount Amortization Period
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmountAmortizationPeriod
P15Y
us-gaap Net Income Loss
NetIncomeLoss
5071000 usd
us-gaap Net Income Loss
NetIncomeLoss
2547000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
2224000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
528000 usd
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
621000 usd
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
249000 usd
CY2022Q4 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
272000 usd
CY2021Q4 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
52000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4450000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2298000 usd
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1952000 usd
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
120 shares
CY2021Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
485 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12782 shares
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
476000 usd
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12545 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12281 shares
CY2022Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12534 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
12283 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
237 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
432 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12713 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12654 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12768 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2022Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
37000000 usd
CY2022Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
28000000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
148000 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
160000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
36852000 usd
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
27840000 usd
us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P5Y
CY2022Q2 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
the BSBY rate plus a margin that ranges between 1.25% and 1.75% depending on the Company’s Consolidated Leverage Ratio or (b) the highest of (i) prime, (ii) the federal funds rate plus 50 basis points, and (iii) the BSBY rate plus 100 basis points (such highest rate, the “Base Rate”), plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio. Swingline loans generally bear interest at the Base Rate plus a margin that ranges between 0.25% and 0.75% depending on the Consolidated Leverage Ratio.
CY2022Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
38800000 usd
CY2022Q4 evi Number Of Facilities Financed Under Operating Leases
NumberOfFacilitiesFinancedUnderOperatingLeases
34 pure
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
lease term expirations between 2023 and 2030.
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1496000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2055000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1446000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
988000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
798000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1288000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8071000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
574000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7497000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2446000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5051000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1616000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1248000 usd
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
843000 usd
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
627000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
144000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
138000 usd
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
126000 usd
CY2021Q4 us-gaap Variable Lease Cost
VariableLeaseCost
103000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.033 pure
us-gaap Operating Lease Payments
OperatingLeasePayments
1616000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1248000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
524000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
610000 usd
CY2022Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
2700000 usd
CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
7900000 usd
CY2022Q2 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
7700000 usd
CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease Before Allowance For Credit Loss Current
SalesTypeLeaseNetInvestmentInLeaseBeforeAllowanceForCreditLossCurrent
1800000 usd
CY2022Q2 us-gaap Sales Type Lease Net Investment In Lease Before Allowance For Credit Loss Current
SalesTypeLeaseNetInvestmentInLeaseBeforeAllowanceForCreditLossCurrent
2000000 usd
CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease Before Allowance For Credit Loss Noncurrent
SalesTypeLeaseNetInvestmentInLeaseBeforeAllowanceForCreditLossNoncurrent
6100000 usd
CY2022Q2 us-gaap Sales Type Lease Net Investment In Lease Before Allowance For Credit Loss Noncurrent
SalesTypeLeaseNetInvestmentInLeaseBeforeAllowanceForCreditLossNoncurrent
5700000 usd
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3000000 shares
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
1500000 usd
CY2022Q4 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
802000 usd
us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
1300000 usd
CY2021Q4 us-gaap Employee Benefits And Share Based Compensation Noncash
EmployeeBenefitsAndShareBasedCompensationNoncash
841000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
71039000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
72895000 usd
CY2022Q4 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
usd
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
usd
CY2021Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
usd
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
shares
CY2018Q4 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P5Y
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Entity Central Index Key
EntityCentralIndexKey
0000065312

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