2019 Q3 Form 10-Q Financial Statement

#000003747219000016 Filed on October 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $100.3M $113.5M
YoY Change -11.58% -5.3%
Cost Of Revenue $83.13M $91.70M
YoY Change -9.35% -2.13%
Gross Profit $17.22M $21.79M
YoY Change -20.97% -16.64%
Gross Profit Margin 17.16% 19.2%
Selling, General & Admin $17.48M $20.20M
YoY Change -13.47% 10.75%
% of Gross Profit 101.47% 92.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.484M $1.903M
YoY Change 30.53% 3.03%
% of Gross Profit 14.42% 8.73%
Operating Expenses $17.48M $20.20M
YoY Change -13.47% 10.75%
Operating Profit $12.68M $1.595M
YoY Change 695.17% -83.62%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $86.00K $181.0K
YoY Change -52.49% 81.0%
Pretax Income $12.77M $1.776M
YoY Change 618.98% -82.02%
Income Tax $3.218M $480.0K
% Of Pretax Income 25.2% 27.03%
Net Earnings $9.551M $1.296M
YoY Change 636.96% -79.03%
Net Earnings / Revenue 9.52% 1.14%
Basic Earnings Per Share $1.20 $0.16
Diluted Earnings Per Share $1.17 $0.16
COMMON SHARES
Basic Shares Outstanding 7.928M 7.875M
Diluted Shares Outstanding 8.190M 7.921M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.20M $41.30M
YoY Change -12.35% -12.87%
Cash & Equivalents $36.24M $23.35M
Short-Term Investments $18.00M
Other Short-Term Assets $4.432M $8.478M
YoY Change -47.72% -8.84%
Inventory $93.57M $90.28M
Prepaid Expenses
Receivables $36.33M $43.58M
Other Receivables $0.00 $0.00
Total Short-Term Assets $170.6M $183.6M
YoY Change -7.12% -11.2%
LONG-TERM ASSETS
Property, Plant & Equipment $76.49M $99.18M
YoY Change -22.88% 41.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.332M $2.506M
YoY Change -46.85% -24.06%
Total Long-Term Assets $96.91M $103.5M
YoY Change -6.37% 41.41%
TOTAL ASSETS
Total Short-Term Assets $170.6M $183.6M
Total Long-Term Assets $96.91M $103.5M
Total Assets $267.5M $287.1M
YoY Change -6.85% 2.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.50M $19.50M
YoY Change -25.64% 4.28%
Accrued Expenses $30.30M $24.30M
YoY Change 24.69% 1.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.77M $43.79M
YoY Change 2.24% 2.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $698.0K $1.701M
YoY Change -58.97% -26.04%
Total Long-Term Liabilities $698.0K $1.701M
YoY Change -58.97% -26.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.77M $43.79M
Total Long-Term Liabilities $698.0K $1.701M
Total Liabilities $52.95M $45.49M
YoY Change 16.4% 1.31%
SHAREHOLDERS EQUITY
Retained Earnings $177.8M $209.1M
YoY Change -14.99%
Common Stock $7.942M $7.884M
YoY Change 0.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $214.5M $241.7M
YoY Change
Total Liabilities & Shareholders Equity $267.5M $287.1M
YoY Change -6.85% 2.55%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $9.551M $1.296M
YoY Change 636.96% -79.03%
Depreciation, Depletion And Amortization $2.484M $1.903M
YoY Change 30.53% 3.03%
Cash From Operating Activities -$3.319M $9.898M
YoY Change -133.53% 546.08%
INVESTING ACTIVITIES
Capital Expenditures $512.0K $10.43M
YoY Change -95.09% 105.6%
Acquisitions
YoY Change
Other Investing Activities $19.63M -$1.970M
YoY Change -1096.45% -119.41%
Cash From Investing Activities $19.11M -$12.40M
YoY Change -254.11% -344.37%
FINANCING ACTIVITIES
Cash Dividend Paid $1.738M $1.729M
YoY Change 0.52% 10.48%
Common Stock Issuance & Retirement, Net $43.00K
YoY Change 1333.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.805M -1.897M
YoY Change -4.85% -6.78%
NET CHANGE
Cash From Operating Activities -3.319M 9.898M
Cash From Investing Activities 19.11M -12.40M
Cash From Financing Activities -1.805M -1.897M
Net Change In Cash 13.99M -4.401M
YoY Change -417.86% -196.26%
FREE CASH FLOW
Cash From Operating Activities -$3.319M $9.898M
Capital Expenditures $512.0K $10.43M
Free Cash Flow -$3.831M -$536.0K
YoY Change 614.74% -84.87%

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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
211000
CY2019Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
67000
CY2018Q3 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
10016000
CY2019Q3 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
646000
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10434000
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
512000
CY2018Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
43000
CY2018Q3 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
8015000
CY2019Q3 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
646000
CY2018Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
33000
CY2019Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
19625000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79238000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
76486000
CY2019Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-238000
CY2019Q2 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
6203000
CY2019Q3 us-gaap Restructuring And Related Cost Expected Cost1
RestructuringAndRelatedCostExpectedCost1
2619000
CY2019Q3 us-gaap Restructuring Charges
RestructuringCharges
6004000
CY2019Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
6203000
CY2019Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
2619000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
170004000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
177759000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
113487000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
100348000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.50
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.50
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20196000
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17475000
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
549000
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1416000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
36000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
12000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
100000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
30000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
166000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
225000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
243000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
30.65
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.37
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
46000
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
36.59
CY2019Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
32.99
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
26.89
CY2019Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
15.14
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
205427000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
214523000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
241698000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
241659000
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
205427000
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
214523000
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5000
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
44000
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
262000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7921000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8190000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7875000
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7928000
CY2018Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
6000
CY2019Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
258000

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