2015 Q2 Form 10-Q Financial Statement

#000117494715001028 Filed on June 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $11.25M $10.63M
YoY Change 5.83% 7.29%
Cost Of Revenue $5.910M $4.930M
YoY Change 19.88% 11.54%
Gross Profit $5.340M $5.710M
YoY Change -6.48% 4.01%
Gross Profit Margin 47.46% 53.71%
Selling, General & Admin $500.0K $490.0K
YoY Change 2.04% 6.52%
% of Gross Profit 9.36% 8.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.810M $1.690M
YoY Change 7.1% 0.0%
% of Gross Profit 33.9% 29.6%
Operating Expenses $8.056M $6.939M
YoY Change 16.1% 252.23%
Operating Profit $3.196M $3.693M
YoY Change -13.46% 4.91%
Interest Expense $2.771M $2.844M
YoY Change -2.57% -194.49%
% of Operating Profit 86.7% 77.01%
Other Income/Expense, Net
YoY Change
Pretax Income $460.0K $890.0K
YoY Change -48.31% 78.0%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $532.0K $833.0K
YoY Change -36.13% -55.45%
Net Earnings / Revenue 4.73% 7.83%
Basic Earnings Per Share
Diluted Earnings Per Share $77.83K $118.7K
COMMON SHARES
Basic Shares Outstanding 6.793M shares 6.922M shares
Diluted Shares Outstanding 6.808M shares 6.922M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.90M $19.60M
YoY Change -18.88% -23.44%
Cash & Equivalents $15.90M $19.60M
Short-Term Investments
Other Short-Term Assets $4.000M $3.500M
YoY Change 14.29% -22.22%
Inventory
Prepaid Expenses
Receivables $5.700M $6.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.60M $29.70M
YoY Change -13.8% -25.19%
LONG-TERM ASSETS
Property, Plant & Equipment $298.1M $226.0M
YoY Change 31.9% 5.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.000M $15.60M
YoY Change -67.95% 420.0%
Total Long-Term Assets $310.2M $249.5M
YoY Change 24.33% 13.67%
TOTAL ASSETS
Total Short-Term Assets $25.60M $29.70M
Total Long-Term Assets $310.2M $249.5M
Total Assets $335.8M $279.2M
YoY Change 20.27% 7.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.700M $9.100M
YoY Change 6.59% 213.79%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.20M $21.70M
YoY Change 6.91% 49.66%
LONG-TERM LIABILITIES
Long-Term Debt $287.0M $225.0M
YoY Change 27.56% 3.07%
Other Long-Term Liabilities $1.600M $700.0K
YoY Change 128.57% -41.67%
Total Long-Term Liabilities $288.6M $225.7M
YoY Change 27.87% 2.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.20M $21.70M
Total Long-Term Liabilities $288.6M $225.7M
Total Liabilities $325.5M $258.4M
YoY Change 25.97% 6.56%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 266.3K shares
Shareholders Equity $10.30M $20.80M
YoY Change
Total Liabilities & Shareholders Equity $335.8M $279.2M
YoY Change 20.27% 7.72%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $532.0K $833.0K
YoY Change -36.13% -55.45%
Depreciation, Depletion And Amortization $1.810M $1.690M
YoY Change 7.1% 0.0%
Cash From Operating Activities $440.0K $1.920M
YoY Change -77.08% -27.82%
INVESTING ACTIVITIES
Capital Expenditures -$10.00M -$4.180M
YoY Change 139.23% 234.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.130M
YoY Change -100.0%
Cash From Investing Activities -$10.00M -$6.310M
YoY Change 58.48% 404.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.090M -1.060M
YoY Change -580.19% -66.87%
NET CHANGE
Cash From Operating Activities 440.0K 1.920M
Cash From Investing Activities -10.00M -6.310M
Cash From Financing Activities 5.090M -1.060M
Net Change In Cash -4.470M -5.450M
YoY Change -17.98% 204.47%
FREE CASH FLOW
Cash From Operating Activities $440.0K $1.920M
Capital Expenditures -$10.00M -$4.180M
Free Cash Flow $10.44M $6.100M
YoY Change 71.15% 56.01%

Facts In Submission

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CY2015Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
808000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-81000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1269000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
850000 USD
CY2015Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
107000 USD
CY2014Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
-24000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
36000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
74000 USD
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1233000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
776000 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
USD
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
2128000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
2128000 USD
CY2015Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
220000000 USD
CY2014Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
175000000 USD
CY2015Q2 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
73000 USD
CY2014Q2 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
41000 USD
CY2014Q2 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
5000 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
652000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
401000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
808000 USD
CY2014Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-81000 USD
CY2014Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
11185000 USD
CY2014Q2 frevsob Business Acquisitions Pro Forma Expenses
BusinessAcquisitionsProFormaExpenses
10275000 USD
CY2014Q2 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
910000 USD
CY2014Q2 frevsob Business Acquisitions Pro Forma Income Loss From Discontinued Operations
BusinessAcquisitionsProFormaIncomeLossFromDiscontinuedOperations
USD
CY2014Q2 frevsob Business Acquisitions Pro Forma Income Gain Loss From Sale Of Discontinued Operations
BusinessAcquisitionsProFormaIncomeGainLossFromSaleOfDiscontinuedOperations
41000 USD
CY2014Q2 frevsob Business Acquisitions Pro Forma Profit Loss
BusinessAcquisitionsProFormaProfitLoss
951000 USD
CY2014Q2 frevsob Business Acquisitions Pro Forma Income Net Income Loss Attributable To Noncontrolling Interest
BusinessAcquisitionsProFormaIncomeNetIncomeLossAttributableToNoncontrollingInterest
98000 USD
CY2014Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
853000 USD
CY2014Q2 us-gaap Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasic
0.11
CY2014Q2 frevsob Business Acquisition Pro Forma Income Loss From Discontinued Operations Net Of Tax Per Share Basic
BusinessAcquisitionProFormaIncomeLossFromDiscontinuedOperationsNetOfTaxPerShareBasic
0.01
CY2014Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.12
CY2014Q2 frevsob Business Acquisition Pro Forma Weighted Average Shares Outstanding Basic And Diluted
BusinessAcquisitionProFormaWeightedAverageSharesOutstandingBasicAndDiluted
6922000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2169000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
94302 shares
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
100000 shares
CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
94302 shares
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
23.00
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2168946 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
171981 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6807000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6927000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6793000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6922000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6807000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6927000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6808000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6922000 shares
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14000 shares

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