2024 Q3 Form 10-Q Financial Statement

#000143774924025535 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $106.8M $114.6M $137.3M
YoY Change -18.35% -16.57% -15.14%
Cost Of Revenue $96.41M $121.0M
YoY Change -20.3% -15.48%
Gross Profit $18.14M $16.33M
YoY Change 11.07% -12.55%
Gross Profit Margin 15.83% 11.89%
Selling, General & Admin $3.935M $4.511M $5.972M
YoY Change -17.44% -24.46% -5.99%
% of Gross Profit 24.87% 36.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $795.0K $771.0K
YoY Change 3.11% 45.17%
% of Gross Profit 4.38% 4.72%
Operating Expenses $3.935M $4.511M $5.972M
YoY Change -17.44% -24.46% -5.99%
Operating Profit -$224.0K -$1.398M $10.36M
YoY Change -121.23% -113.5% -12.89%
Interest Expense $869.0K $681.0K $540.0K
YoY Change -207.95% 26.11% 25.87%
% of Operating Profit 5.21%
Other Income/Expense, Net -$3.000K $3.000K $6.000K
YoY Change -130.0% -50.0% -99.78%
Pretax Income -$902.0K $3.299M $10.25M
YoY Change -119.35% -67.82% -30.05%
Income Tax -$227.0K $700.0K $2.600M
% Of Pretax Income 21.22% 25.36%
Net Earnings -$675.0K $2.567M $7.690M
YoY Change -119.21% -66.62% -31.24%
Net Earnings / Revenue -0.63% 2.24% 5.6%
Basic Earnings Per Share -$0.10 $0.37 $1.04
Diluted Earnings Per Share -$0.10 $0.37 $1.04
COMMON SHARES
Basic Shares Outstanding 6.970M 6.970M 7.289M
Diluted Shares Outstanding 7.289M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.146M $4.823M
YoY Change -14.04% 100.23%
Cash & Equivalents $2.473M $4.146M $4.823M
Short-Term Investments
Other Short-Term Assets $882.0K $701.0K $3.104M
YoY Change -80.36% -77.42% 14.02%
Inventory $105.1M $119.8M $101.1M
Prepaid Expenses
Receivables $39.62M $37.76M $46.78M
Other Receivables $0.00 $0.00
Total Short-Term Assets $148.0M $162.4M $156.1M
YoY Change -10.36% 4.05% -25.31%
LONG-TERM ASSETS
Property, Plant & Equipment $56.87M $57.04M $53.64M
YoY Change 2.77% 6.35% 4.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $333.0K $432.0K
YoY Change -22.92% 4.59%
Total Long-Term Assets $61.12M $60.37M $55.31M
YoY Change 7.3% 9.15% 4.19%
TOTAL ASSETS
Total Short-Term Assets $148.0M $162.4M $156.1M
Total Long-Term Assets $61.12M $60.37M $55.31M
Total Assets $209.2M $222.8M $211.4M
YoY Change -5.83% 5.39% -19.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.25M $35.89M
YoY Change -4.57% -24.38%
Accrued Expenses $1.401M $3.074M
YoY Change -54.42% -8.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $27.00K $107.0K
YoY Change -74.77% 1.71%
Total Short-Term Liabilities $36.37M $38.80M $43.02M
YoY Change 3.04% -9.8% -22.27%
LONG-TERM LIABILITIES
Long-Term Debt $46.09M $39.33M
YoY Change 17.2% -61.63%
Other Long-Term Liabilities $2.969M $1.178M
YoY Change 152.04% -14.56%
Total Long-Term Liabilities $49.06M $1.178M
YoY Change 4064.35% -14.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.37M $38.80M $43.02M
Total Long-Term Liabilities $49.06M $1.178M
Total Liabilities $80.40M $93.10M $88.03M
YoY Change -15.65% 5.76% -44.75%
SHAREHOLDERS EQUITY
Retained Earnings $97.62M $98.57M $87.20M
YoY Change 7.79% 13.05% 24.68%
Common Stock $44.21M $44.17M $43.95M
YoY Change 0.41% 0.49% 0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $128.8M $129.7M $123.4M
YoY Change
Total Liabilities & Shareholders Equity $209.2M $222.8M $211.4M
YoY Change -5.83% 5.39% -19.33%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$675.0K $2.567M $7.690M
YoY Change -119.21% -66.62% -31.24%
Depreciation, Depletion And Amortization $795.0K $771.0K
YoY Change 3.11% 45.17%
Cash From Operating Activities -$6.059M -$4.583M
YoY Change 32.21% -78.53%
INVESTING ACTIVITIES
Capital Expenditures $1.054M $450.0K
YoY Change 134.22% -84.0%
Acquisitions
YoY Change
Other Investing Activities -$3.000K -$2.000K
YoY Change 50.0% -100.0%
Cash From Investing Activities -$1.057M -$452.0K
YoY Change 133.85% -99.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $5.365M $6.007M
YoY Change -10.69% -92.8%
NET CHANGE
Cash From Operating Activities -$6.059M -$4.583M
Cash From Investing Activities -$1.057M -$452.0K
Cash From Financing Activities $5.365M $6.007M
Net Change In Cash -$1.751M $972.0K
YoY Change -280.14% -107.84%
FREE CASH FLOW
Cash From Operating Activities -$6.059M -$4.583M
Capital Expenditures $1.054M $450.0K
Free Cash Flow -$7.113M -$5.033M
YoY Change 41.33% -79.16%

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119802000 usd
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363000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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371000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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324000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
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5043000 usd
CY2024Q2 frd Finance Lease Liability To Be Paid After Year Four
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
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6368000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
27000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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3356000 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2024Q2 us-gaap Operating Lease Liability
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3012000 usd
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OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
0 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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114551000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
137298000 usd
CY2024Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
5375000 usd
CY2023Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
430000 usd
CY2024Q2 us-gaap Interest Expense
InterestExpense
681000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
540000 usd
CY2024Q2 us-gaap Nonoperating Income Expense
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3000 usd
CY2023Q2 us-gaap Nonoperating Income Expense
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6000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3299000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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10253000 usd
CY2024Q2 us-gaap Assets
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CY2024Q1 us-gaap Stockholders Equity
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2567000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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47000 usd
CY2024Q2 us-gaap Treasury Stock Value Acquired Cost Method
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123000 usd
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279000 usd
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115432000 usd
CY2023Q2 us-gaap Net Income Loss
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7690000 usd
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317000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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78000 usd
CY2023Q2 us-gaap Dividends Common Stock Cash
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148000 usd
CY2023Q2 us-gaap Stockholders Equity
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123369000 usd
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418000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
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101000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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317000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
418000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
101000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
317000 usd
CY2024Q2 us-gaap Net Income Loss
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2567000 usd
CY2023Q2 us-gaap Net Income Loss
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7690000 usd
CY2024Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2023Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2556000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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7600000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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6939208
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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7288906
CY2024Q2 us-gaap Interest Paid
InterestPaid
700000 usd
CY2023Q2 us-gaap Interest Paid
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500000 usd
CY2024Q2 us-gaap Income Taxes Paid Net
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113000 usd
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
47000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000 usd

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