2021 Q1 Form 10-Q Financial Statement

#000156459021020765 Filed on April 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $16.77M $17.46M
YoY Change -4.0% 10.1%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.033M $1.602M
YoY Change 26.9% -4.59%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.360M $970.0K
YoY Change 40.21% 6.59%
% of Gross Profit
Operating Expenses $2.033M $1.602M
YoY Change 26.9% -4.59%
Operating Profit
YoY Change
Interest Expense $1.728M $3.411M
YoY Change -49.34% 10.57%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $5.969M $5.077M
YoY Change 17.57% 29.15%
Income Tax $1.060M $972.0K
% Of Pretax Income 17.76% 19.15%
Net Earnings $4.909M $4.105M
YoY Change 19.59% 27.33%
Net Earnings / Revenue 29.28% 23.51%
Basic Earnings Per Share $0.44
Diluted Earnings Per Share $441.9K $371.9K
COMMON SHARES
Basic Shares Outstanding 11.11M 11.13M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $175.5M $90.84M
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 $26.70M $26.12M
YoY Change 2.22% 3.65%
Goodwill $47.34M
YoY Change
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 $1.993B $1.655B
YoY Change 20.43% 12.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $12.80M $12.80M
YoY Change 0.0% 36.17%
Deferred Revenue
YoY Change
Short-Term Debt $30.10M $30.60M
YoY Change -1.63% 20.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.70M $14.60M
YoY Change 0.68% 31.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $14.70M $14.60M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.747B $1.419B
YoY Change 23.11% 13.61%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $246.8M $236.5M
YoY Change
Total Liabilities & Shareholders Equity $1.993B $1.655B
YoY Change 20.43% 12.93%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $4.909M $4.105M
YoY Change 19.59% 27.33%
Depreciation, Depletion And Amortization $1.360M $970.0K
YoY Change 40.21% 6.59%
Cash From Operating Activities $6.445M $4.651M
YoY Change 38.57% -40.41%
INVESTING ACTIVITIES
Capital Expenditures $318.0K $420.0K
YoY Change -24.29% -40.51%
Acquisitions
YoY Change
Other Investing Activities -$91.79M -$5.390M
YoY Change 1602.97% -133.96%
Cash From Investing Activities -$92.10M -$5.805M
YoY Change 1486.63% -138.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.00K $170.0K
YoY Change -86.47% -20.19%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 85.45M 40.70M
YoY Change 109.98% 98.39%
NET CHANGE
Cash From Operating Activities 6.445M 4.651M
Cash From Investing Activities -92.10M -5.805M
Cash From Financing Activities 85.45M 40.70M
Net Change In Cash -206.0K 39.54M
YoY Change -100.52% -9.07%
FREE CASH FLOW
Cash From Operating Activities $6.445M $4.651M
Capital Expenditures $318.0K $420.0K
Free Cash Flow $6.127M $4.231M
YoY Change 44.81% -40.4%

Facts In Submission

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CY2020Q1 us-gaap Impaired Financing Receivable Related Allowance
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CY2021Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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8139000
CY2020Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0
CY2021Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
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CY2021Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
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CY2021Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
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0
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1
CY2021Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
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0
CY2020Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
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0
CY2021Q1 fmao Financing Receivables Impaired Number Of Troubled Debt Restructuring Write Down
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CY2020Q1 fmao Financing Receivables Impaired Number Of Troubled Debt Restructuring Write Down
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CY2020Q1 fmao Financing Receivables Impaired Number Of Troubled Debt Restructuring Charged Off
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0
CY2021Q1 fmao Maximum Time For Reevaluation
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UnsecuredConsumerLoansCreditCardCreditsAndOverdraft
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CY2021Q1 fmao Delinquent Period For Charging Down Consumer Loans
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CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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LoansAndLeasesReceivableAllowance
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ProvisionForLoanAndLeaseLosses
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ProvisionForLoanAndLeaseLosses
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CY2021Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2021Q1 fmao Allowance For Unfunded Loan Commitments And Letters Of Credit
AllowanceForUnfundedLoanCommitmentsAndLettersOfCredit
1052000
CY2020Q4 fmao Allowance For Unfunded Loan Commitments And Letters Of Credit
AllowanceForUnfundedLoanCommitmentsAndLettersOfCredit
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2021Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
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CY2021Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
66000
CY2021Q1 us-gaap Provision For Loan And Lease Losses
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CY2021Q1 fmao Other Non Interest Income Expense Recovery Related To Unfunded
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411000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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1109000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
14368000
CY2021Q1 fmao Financing Receivable Allowance For Credit Losses Acquired With Deteriorated Credit Quality Ending Period
FinancingReceivableAllowanceForCreditLossesAcquiredWithDeterioratedCreditQualityEndingPeriod
0
CY2021Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
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CY2021Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
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CY2021Q1 us-gaap Notes Receivable Net
NotesReceivableNet
120000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
14313000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
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CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
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CY2020Q4 fmao Financing Receivable Allowance For Credit Losses Acquired With Deteriorated Credit Quality Ending Period
FinancingReceivableAllowanceForCreditLossesAcquiredWithDeterioratedCreditQualityEndingPeriod
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CY2020Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
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CY2020Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
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CY2020Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
148000
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2020Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
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CY2020Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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39000
CY2020Q1 us-gaap Provision For Loan And Lease Losses
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1430000
CY2020Q1 fmao Other Non Interest Income Expense Recovery Related To Unfunded
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CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
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CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
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CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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8237000
CY2020Q1 fmao Financing Receivable Allowance For Credit Losses Acquired With Deteriorated Credit Quality Ending Period
FinancingReceivableAllowanceForCreditLossesAcquiredWithDeterioratedCreditQualityEndingPeriod
0
CY2020Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
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CY2020Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
6188000
CY2020Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1241305000
CY2020Q1 us-gaap Notes Receivable Net
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148000
CY2020Q2 fmao Compensation Annual Basis Committee Award
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4000
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CY2020Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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15000
CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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13000
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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23000
CY2020Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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18000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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4871000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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4074000
CY2021Q1 us-gaap Weighted Average Number Of Shares Issued Basic
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CY2020Q1 us-gaap Weighted Average Number Of Shares Issued Basic
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CY2021Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
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86595
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CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
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CY2021Q1 us-gaap Federal Funds Purchased
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CY2020Q4 us-gaap Federal Funds Purchased
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CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase
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CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase
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CY2021Q1 us-gaap Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
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CY2020Q4 us-gaap Federal Funds Purchased And Securities Sold Under Agreements To Repurchase
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CY2021Q1 us-gaap Business Combination Acquisition Related Costs
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180000

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