2017 Q2 Form 10-Q Financial Statement

#000089148217000015 Filed on May 12, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $40.12M $39.62M $32.01M
YoY Change 16.09% 23.79% 10.05%
Cost Of Revenue $22.88M $22.04M $17.16M
YoY Change 19.73% 28.44% 5.34%
Gross Profit $17.24M $17.59M $14.85M
YoY Change 9.53% 18.45% 16.11%
Gross Profit Margin 42.97% 44.4% 46.4%
Selling, General & Admin $13.73M $13.08M $11.34M
YoY Change 10.32% 15.38% 4.57%
% of Gross Profit 79.63% 74.38% 76.36%
Research & Development $40.00K $130.0K $290.0K
YoY Change -91.84% -55.17% 625.0%
% of Gross Profit 0.23% 0.74% 1.95%
Depreciation & Amortization $2.140M $2.097M $1.693M
YoY Change 12.63% 23.86% 13.47%
% of Gross Profit 12.41% 11.92% 11.4%
Operating Expenses $13.73M $13.08M $11.34M
YoY Change 10.32% 15.38% 4.57%
Operating Profit $1.335M $2.260M $1.531M
YoY Change 56.69% 47.62% -11035.71%
Interest Expense $2.705M $2.678M $1.762M
YoY Change 21.3% 51.99% 15.54%
% of Operating Profit 202.62% 118.5% 115.09%
Other Income/Expense, Net -$2.675M -$2.678M -$1.762M
YoY Change -12.92% 51.99% 16.46%
Pretax Income -$1.340M -$418.0K -$231.0K
YoY Change -39.64% 80.95% -84.87%
Income Tax $184.0K $184.0K $99.00K
% Of Pretax Income
Net Earnings -$1.525M -$602.0K -$330.0K
YoY Change -36.46% 82.42% -81.2%
Net Earnings / Revenue -3.8% -1.52% -1.03%
Basic Earnings Per Share -$0.07 -$0.03
Diluted Earnings Per Share -$0.07 -$0.03 -$17.40K
COMMON SHARES
Basic Shares Outstanding 22.86M shares 22.86M shares 18.97M shares
Diluted Shares Outstanding 22.88M shares 22.87M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.00M $25.40M $13.10M
YoY Change 6.8% 93.89% -8.39%
Cash & Equivalents $22.00M $25.40M $13.12M
Short-Term Investments
Other Short-Term Assets $4.600M $3.200M $6.300M
YoY Change 4.55% -49.21% 110.0%
Inventory $1.549M $1.429M $1.096M
Prepaid Expenses $4.574M $3.186M $3.150M
Receivables $1.198M $1.299M $1.271M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.32M $31.32M $21.70M
YoY Change 4.39% 44.31% 12.44%
LONG-TERM ASSETS
Property, Plant & Equipment $113.3M $111.0M $97.40M
YoY Change 1.29% 13.99% -0.71%
Goodwill $21.29M $21.29M $16.48M
YoY Change 0.74% 29.16%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $32.99M $32.68M $19.32M
YoY Change -1.34% 69.15% 3764.2%
Total Long-Term Assets $146.3M $143.7M $116.7M
YoY Change 0.69% 23.12% -2.81%
TOTAL ASSETS
Total Short-Term Assets $29.32M $31.32M $21.70M
Total Long-Term Assets $146.3M $143.7M $116.7M
Total Assets $175.6M $175.0M $138.4M
YoY Change 1.29% 26.44% -0.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.060M $3.948M $3.910M
YoY Change 11.28% 0.97% -4.63%
Accrued Expenses $11.07M $10.68M $6.837M
YoY Change 18.69% 56.15% -5.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.250M $1.688M $4.500M
YoY Change 0.0% -62.49% 21.62%
Total Short-Term Liabilities $18.80M $16.74M $16.58M
YoY Change 7.39% 0.96% -3.62%
LONG-TERM LIABILITIES
Long-Term Debt $93.56M $93.90M $59.48M
YoY Change -1.43% 57.88% -10.02%
Other Long-Term Liabilities $1.300M $1.100M
YoY Change 62.5%
Total Long-Term Liabilities $93.56M $93.90M $59.48M
YoY Change -1.43% 57.88% -10.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.80M $16.74M $16.58M
Total Long-Term Liabilities $93.56M $93.90M $59.48M
Total Liabilities $121.0M $119.1M $82.17M
YoY Change 1.36% 44.88% -1.82%
SHAREHOLDERS EQUITY
Retained Earnings $4.733M $6.258M $11.62M
YoY Change -48.68% -46.16%
Common Stock $51.54M $51.37M $46.28M
YoY Change 10.98% 10.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.654M $1.654M $1.654M
YoY Change 0.0% 0.0%
Treasury Stock Shares 1.357M shares 1.357M shares 1.357M shares
Shareholders Equity $54.62M $55.97M $56.25M
YoY Change
Total Liabilities & Shareholders Equity $175.6M $175.0M $138.4M
YoY Change 1.29% 26.44% -0.7%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$1.525M -$602.0K -$330.0K
YoY Change -36.46% 82.42% -81.2%
Depreciation, Depletion And Amortization $2.140M $2.097M $1.693M
YoY Change 12.63% 23.86% 13.47%
Cash From Operating Activities $810.0K $1.507M $1.860M
YoY Change 8000.0% -18.98% 16.98%
INVESTING ACTIVITIES
Capital Expenditures -$3.790M $2.458M $237.0K
YoY Change 492.19% 937.13% -95.16%
Acquisitions
YoY Change
Other Investing Activities -$40.00K -$4.000K $180.0K
YoY Change -99.84% -102.22% -178.26%
Cash From Investing Activities -$3.840M -$2.454M -$60.00K
YoY Change -85.25% 3990.0% -98.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -380.0K -$689.0K -3.250M
YoY Change -101.13% -78.8% -244.44%
NET CHANGE
Cash From Operating Activities 810.0K $1.507M 1.860M
Cash From Investing Activities -3.840M -$2.454M -60.00K
Cash From Financing Activities -380.0K -$689.0K -3.250M
Net Change In Cash -3.410M -$1.636M -1.450M
YoY Change -145.41% 12.83% 12.4%
FREE CASH FLOW
Cash From Operating Activities $810.0K $1.507M $1.860M
Capital Expenditures -$3.790M $2.458M $237.0K
Free Cash Flow $4.600M -$951.0K $1.623M
YoY Change 607.69% -158.6% -149.03%

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OtherDirectCostsOfHotels
303000 USD
CY2017Q1 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
280000 USD
CY2016Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1161000 USD
CY2017Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1175000 USD
CY2016Q1 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
1965000 USD
CY2017Q1 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
2079000 USD
CY2016Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
102000 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
23000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
237000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2458000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2809000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3186000 USD
CY2016Q1 us-gaap Promotional Allowances
PromotionalAllowances
6056000 USD
CY2017Q1 us-gaap Promotional Allowances
PromotionalAllowances
7037000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
155138000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
156779000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111465000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111026000 USD
CY2016Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
151000 USD
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
104000 USD
CY2016Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
3000000 USD
CY2017Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
562000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6860000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6258000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
32007000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
39620000 USD
CY2016Q1 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
38063000 USD
CY2017Q1 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
46657000 USD
CY2016Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
32007000 USD
CY2017Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
39620000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11340000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
13084000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
57000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
93000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
93000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
56479000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
55970000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1356595 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1356595 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1654000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1654000 USD
CY2016Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1117000 USD
CY2017Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1117000 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19639676 shares
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19640000 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22865000 shares
CY2017Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications. </font><font style="font-family:inherit;font-size:10pt;">Certain minor reclassifications have been made to prior period amounts to conform to the current-period presentation. Such reclassifications had no effect on the previously reported net loss or retained earnings.</font></div></div>

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