2011 Form 10-K Financial Statement
#000135448812001479 Filed on March 29, 2012
Income Statement
Concept | 2011 | 2010 Q4 | 2010 |
---|---|---|---|
Revenue | $15.52M | $2.600M | $11.49M |
YoY Change | 35.04% | 8.33% | 17.5% |
Cost Of Revenue | $9.663M | $1.740M | $7.018M |
YoY Change | 37.68% | 20.83% | 7.97% |
Gross Profit | $5.855M | $860.0K | $4.473M |
YoY Change | 30.9% | -10.42% | 36.37% |
Gross Profit Margin | 37.73% | 33.08% | 38.93% |
Selling, General & Admin | $4.370M | $1.040M | $3.820M |
YoY Change | 14.4% | 1.96% | 5.82% |
% of Gross Profit | 74.63% | 120.93% | 85.4% |
Research & Development | $73.20K | $0.00 | $70.99K |
YoY Change | 3.11% | -100.0% | 136.64% |
% of Gross Profit | 1.25% | 0.0% | 1.59% |
Depreciation & Amortization | $330.9K | $90.00K | $356.8K |
YoY Change | -7.25% | -10.0% | -10.8% |
% of Gross Profit | 5.65% | 10.47% | 7.98% |
Operating Expenses | $4.547M | $1.040M | $3.973M |
YoY Change | 14.45% | 0.97% | 8.85% |
Operating Profit | $1.308M | -$180.0K | $500.1K |
YoY Change | 161.64% | 157.14% | -235.16% |
Interest Expense | $95.75K | -$30.00K | $77.22K |
YoY Change | 24.0% | -25.0% | -142.9% |
% of Operating Profit | 7.32% | 15.44% | |
Other Income/Expense, Net | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Pretax Income | $1.309M | -$220.0K | $500.1K |
YoY Change | 161.67% | 633.33% | -206.4% |
Income Tax | $1.146M | $200.0K | -$770.2K |
% Of Pretax Income | 87.54% | -154.01% | |
Net Earnings | $183.0K | -$420.0K | -$190.1K |
YoY Change | -196.27% | 82.61% | -74.31% |
Net Earnings / Revenue | 1.18% | -16.15% | -1.65% |
Basic Earnings Per Share | $0.01 | -$0.01 | |
Diluted Earnings Per Share | $0.01 | -$30.09K | |
COMMON SHARES | |||
Basic Shares Outstanding | 13.27M shares | 13.96M shares | |
Diluted Shares Outstanding | 13.48M shares |
Balance Sheet
Concept | 2011 | 2010 Q4 | 2010 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $510.0K | $2.760M | $2.760M |
YoY Change | -81.52% | 29.58% | 29.58% |
Cash & Equivalents | $510.0K | $2.763M | $2.760M |
Short-Term Investments | |||
Other Short-Term Assets | $140.0K | $190.0K | $190.0K |
YoY Change | -26.32% | 58.33% | 58.33% |
Inventory | $2.890M | $2.539M | $2.540M |
Prepaid Expenses | $192.3K | ||
Receivables | $2.330M | $1.199M | $1.200M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $5.860M | $6.694M | $6.690M |
YoY Change | -12.41% | 1.58% | 1.52% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $8.210M | $7.868M | $7.870M |
YoY Change | 4.32% | 7.63% | 7.66% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $10.00K | $10.00K | $10.00K |
YoY Change | 0.0% | 0.0% | 0.0% |
Other Assets | $220.0K | $200.0K | $200.0K |
YoY Change | 10.0% | 66.67% | 66.67% |
Total Long-Term Assets | $8.650M | $8.300M | $8.300M |
YoY Change | 4.22% | 8.35% | 8.36% |
TOTAL ASSETS | |||
Total Short-Term Assets | $5.860M | $6.694M | $6.690M |
Total Long-Term Assets | $8.650M | $8.300M | $8.300M |
Total Assets | $14.51M | $14.99M | $14.99M |
YoY Change | -3.2% | 5.22% | 5.19% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $510.0K | $510.0K | $510.0K |
YoY Change | 0.0% | -15.0% | -15.0% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $650.0K | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $330.0K | $122.7K | $120.0K |
YoY Change | 175.0% | 75.32% | 71.43% |
Total Short-Term Liabilities | $2.240M | $1.505M | $1.510M |
YoY Change | 48.34% | 53.58% | 54.08% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $1.650M | $2.210M | $2.210M |
YoY Change | -25.34% | 0.0% | 0.0% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $1.650M | $2.210M | $2.210M |
YoY Change | -25.34% | 0.0% | 0.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.240M | $1.505M | $1.510M |
Total Long-Term Liabilities | $1.650M | $2.210M | $2.210M |
Total Liabilities | $3.890M | $3.711M | $3.710M |
YoY Change | 4.85% | 16.34% | 16.3% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$5.925M | ||
YoY Change | |||
Common Stock | $16.65M | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $10.61M | $11.28M | $11.28M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $14.51M | $14.99M | $14.99M |
YoY Change | -3.2% | 5.22% | 5.19% |
Cashflow Statement
Concept | 2011 | 2010 Q4 | 2010 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $183.0K | -$420.0K | -$190.1K |
YoY Change | -196.27% | 82.61% | -74.31% |
Depreciation, Depletion And Amortization | $330.9K | $90.00K | $356.8K |
YoY Change | -7.25% | -10.0% | -10.8% |
Cash From Operating Activities | -$798.8K | $1.130M | $1.319M |
YoY Change | -160.55% | 841.67% | 66.98% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $794.8K | -$180.0K | $613.9K |
YoY Change | 29.47% | -162.07% | -147.96% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Cash From Investing Activities | -$794.8K | -$180.0K | -$613.9K |
YoY Change | 29.47% | -156.25% | -50.89% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $2.061M | $0.00 | |
YoY Change | |||
Debt Paid & Issued, Net | $309.1K | $83.00K | |
YoY Change | 272.38% | ||
Cash From Financing Activities | -$689.4K | -30.00K | -$83.00K |
YoY Change | 730.66% | -200.0% | -118.04% |
NET CHANGE | |||
Cash From Operating Activities | -$798.8K | 1.130M | $1.319M |
Cash From Investing Activities | -$794.8K | -180.0K | -$613.9K |
Cash From Financing Activities | -$689.4K | -30.00K | -$83.00K |
Net Change In Cash | -$2.283M | 920.0K | $622.3K |
YoY Change | -466.9% | 95.74% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$798.8K | $1.130M | $1.319M |
Capital Expenditures | $794.8K | -$180.0K | $613.9K |
Free Cash Flow | -$1.594M | $1.310M | $705.2K |
YoY Change | -325.97% | -870.59% | -65.93% |
Facts In Submission
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CY2010 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
349083 | usd |
CY2011 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
62569 | usd |
CY2010 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
250000 | usd |
CY2011 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-182002 | usd |
CY2010 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
316000 | usd |
CY2011 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
18031 | usd |
CY2010 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-88532 | usd |
CY2011 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-798800 | usd |
CY2010 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1319151 | usd |
CY2011 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
794848 | usd |
CY2010 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
613902 | usd |
CY2011 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-794848 | usd |
CY2010 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-613902 | usd |
CY2011 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1030349 | usd |
CY2011 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
1330000 | usd |
CY2010 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
454180 | usd |
CY2011 | FSI |
Translation Adjustment
TranslationAdjustment
|
-77726 | usd |
CY2010 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
usd | |
CY2011 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-689405 | usd |
CY2010 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-82995 | usd |
CY2011 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
26536 | usd |
CY2010 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
15016 | usd |
CY2011 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-2256517 | usd |
CY2010 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
637270 | usd |
CY2011 | us-gaap |
Interest Paid
InterestPaid
|
95749 | usd |
CY2010 | us-gaap |
Interest Paid
InterestPaid
|
77216 | usd |
CY2010 | FSI |
Translation Adjustment
TranslationAdjustment
|
223663 | usd |
CY2011 | FSI |
Comprehensive Income
ComprehensiveIncome
|
105264 | usd |
CY2010 | FSI |
Comprehensive Income
ComprehensiveIncome
|
33583 | usd |
CY2011 | FSI |
Shares Issued Repurchase Of Shares Amount
SharesIssuedRepurchaseOfSharesAmount
|
-1030349 | usd |
CY2010Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
13963 | usd |
CY2011Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | usd |
CY2010Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | usd |
CY2011Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13169991 | shares |
CY2010Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13962567 | shares |
CY2011Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13169991 | shares |
CY2010Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13962567 | shares |
CY2011 | FSI |
Stock Option Compensation
StockOptionCompensation
|
255677 | usd |
CY2010 | FSI |
Stock Option Compensation
StockOptionCompensation
|
181318 | usd |
CY2011Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2010Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2011Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
.001 | |
CY2010Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
.001 | |
CY2011Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2010Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2011Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2010Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2011Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2010Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2011 | FSI |
Deferred Tax Recovery
DeferredTaxRecovery
|
-20000 | usd |
CY2010 | FSI |
Deferred Tax Recovery
DeferredTaxRecovery
|
-80000 | usd |
CY2011 | FSI |
Proceeds From Disposal Of Long Term Deposits
ProceedsFromDisposalOfLongTermDeposits
|
usd | |
CY2010 | FSI |
Proceeds From Disposal Of Long Term Deposits
ProceedsFromDisposalOfLongTermDeposits
|
usd | |
CY2011 | FSI |
Increase Decrease In Development Of Patents
IncreaseDecreaseInDevelopmentOfPatents
|
usd | |
CY2010 | FSI |
Increase Decrease In Development Of Patents
IncreaseDecreaseInDevelopmentOfPatents
|
usd | |
CY2012Q1 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
13169991 | shares |
CY2011Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
.01 | |
CY2010Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
.01 | |
CY2011Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
13170 | usd |