2014 Q2 Form 10-Q Financial Statement

#000119312514197199 Filed on May 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $4.663M $4.502M $4.576M
YoY Change 2.39% -1.62% -3.07%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.0K $170.0K $180.0K
YoY Change 0.0% -5.56% -14.29%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $2.214M $1.859M $1.708M
YoY Change 25.01% 8.84% 32.92%
Interest Expense $297.0K $298.0K $458.0K
YoY Change -32.5% -34.93% -34.85%
% of Operating Profit 13.41% 16.03% 26.81%
Other Income/Expense, Net
YoY Change
Pretax Income $2.210M $1.860M $1.710M
YoY Change 24.86% 8.77% 32.56%
Income Tax $692.0K $559.0K $511.0K
% Of Pretax Income 31.31% 30.05% 29.88%
Net Earnings $1.518M $1.297M $1.194M
YoY Change 25.45% 8.63% 29.92%
Net Earnings / Revenue 32.55% 28.81% 26.09%
Basic Earnings Per Share $0.55 $0.47 $0.43
Diluted Earnings Per Share $0.55 $0.47 $0.43
COMMON SHARES
Basic Shares Outstanding 2.784M shares 2.784M shares 2.785M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $10.47M $10.40M $10.70M
YoY Change -1.12% -2.84% 0.77%
Goodwill $5.386M $5.386M $5.386M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $459.5M $448.9M $455.6M
YoY Change -0.23% -1.48% 3.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $200.0K $300.0K
YoY Change 0.0% -33.33% -25.0%
Accrued Expenses $1.800M $2.200M $2.500M
YoY Change 0.0% -12.0% 78.57%
Deferred Revenue
YoY Change
Short-Term Debt $10.60M $8.800M $10.60M
YoY Change -7.02% -16.98% 16.48%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.000M $2.400M $2.800M
YoY Change 0.0% -14.29% 55.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.000M $2.400M $2.800M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $404.3M $394.2M $402.3M
YoY Change -0.93% -2.01% 3.1%
SHAREHOLDERS EQUITY
Retained Earnings $38.60M $37.66M $34.74M
YoY Change 9.07% 8.41% 6.28%
Common Stock $32.00K $32.00K $32.00K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.189M $7.345M $7.326M
YoY Change 11.78% 0.26% 0.19%
Treasury Stock Shares 420.9K shares 380.3K shares 379.4K shares
Shareholders Equity $55.14M $54.53M $53.15M
YoY Change
Total Liabilities & Shareholders Equity $459.5M $448.9M $455.6M
YoY Change -0.23% -1.48% 3.23%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $1.518M $1.297M $1.194M
YoY Change 25.45% 8.63% 29.92%
Depreciation, Depletion And Amortization $180.0K $170.0K $180.0K
YoY Change 0.0% -5.56% -14.29%
Cash From Operating Activities -$2.120M $2.880M $533.0K
YoY Change -135.57% 440.34% -84.61%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K $221.0K $119.0K
YoY Change 257.14% 85.71% 32.22%
Acquisitions
YoY Change
Other Investing Activities -$10.11M $2.400M $9.150M
YoY Change 59.21% -73.77% 58.03%
Cash From Investing Activities -$10.36M $2.180M $9.786M
YoY Change 61.37% -77.72% 71.83%
FINANCING ACTIVITIES
Cash Dividend Paid $585.0K $557.0K
YoY Change 5.03% 5.09%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.010M 2.700M -4.492M
YoY Change 53.23% -160.11% -315.44%
NET CHANGE
Cash From Operating Activities -2.120M 2.880M 533.0K
Cash From Investing Activities -10.36M 2.180M 9.786M
Cash From Financing Activities 9.010M 2.700M -4.492M
Net Change In Cash -3.470M 7.760M 5.827M
YoY Change -164.02% 33.17% -48.17%
FREE CASH FLOW
Cash From Operating Activities -$2.120M $2.880M $533.0K
Capital Expenditures -$250.0K $221.0K $119.0K
Free Cash Flow -$1.870M $2.659M $414.0K
YoY Change -131.01% 542.27% -87.73%

Facts In Submission

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CY2013Q1 us-gaap Information Technology And Data Processing
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CY2014Q1 dei Trading Symbol
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CY2014Q1 dei Entity Registrant Name
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CY2014Q1 dei Amendment Flag
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CY2014Q1 dei Entity Filer Category
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CY2014Q1 dei Document Type
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CY2014Q1 dei Current Fiscal Year End Date
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CY2014Q1 dei Document Fiscal Period Focus
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
0
CY2014Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
4591000
CY2014Q1 us-gaap Advertising Expense
AdvertisingExpense
64000
CY2014Q1 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-25000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
559000
CY2014Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
25000
CY2014Q1 us-gaap Other Noninterest Expense
OtherNoninterestExpense
569000
CY2014Q1 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
3000
CY2014Q1 us-gaap Interest Expense
InterestExpense
298000
CY2014Q1 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
3024000
CY2014Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
133000
CY2014Q1 us-gaap Interest Expense Deposits
InterestExpenseDeposits
289000
CY2014Q1 us-gaap Interest Expense Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
InterestExpenseFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchase
6000
CY2014Q1 us-gaap Proceeds From Payments For In Interest Bearing Deposits In Banks
ProceedsFromPaymentsForInInterestBearingDepositsInBanks
0
CY2014Q1 us-gaap Occupancy Net
OccupancyNet
319000
CY2014Q1 us-gaap Professional Fees
ProfessionalFees
145000
CY2014Q1 us-gaap Dividends Cash
DividendsCash
585000
CY2014Q1 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1835000
CY2014Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
6755000
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000
CY2014Q1 us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
IncreaseDecreaseInFederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchaseNet
-478000
CY2014Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
9258000
CY2014Q1 us-gaap Noninterest Expense
NoninterestExpense
3299000
CY2014Q1 fcap Payment Term Over Which Note Receivable Is Considered Nonperforming
PaymentTermOverWhichNoteReceivableIsConsideredNonperforming
P90D
CY2014Q1 fcap Interest Income Federal Funds Sold Repurchase Agreements And Interest Earning Cash Accounts
InterestIncomeFederalFundsSoldRepurchaseAgreementsAndInterestEarningCashAccounts
18000

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