2020 Q2 Form 10-Q Financial Statement

#000149315220015831 Filed on August 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $7.710M $6.770M
YoY Change 13.87% 63.63%
Cost Of Revenue $5.288M $4.618M
YoY Change 14.51% 77.57%
Gross Profit $2.421M $2.152M
YoY Change 12.5% 40.05%
Gross Profit Margin 31.4% 31.79%
Selling, General & Admin $1.192M $1.646M
YoY Change -27.57% 55.29%
% of Gross Profit 49.25% 76.49%
Research & Development $11.60K $35.36K
YoY Change -67.2% 103.84%
% of Gross Profit 0.48% 1.64%
Depreciation & Amortization $281.3K $297.7K
YoY Change -5.53% 396.24%
% of Gross Profit 11.62% 13.84%
Operating Expenses $1.249M $1.889M
YoY Change -33.9% 94.61%
Operating Profit $1.173M $263.1K
YoY Change 345.62% -53.51%
Interest Expense $54.65K $118.5K
YoY Change -53.87% 1571.58%
% of Operating Profit 4.66% 45.02%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $1.525M $331.3K
YoY Change 360.24% -85.55%
Income Tax $259.7K $150.5K
% Of Pretax Income 17.03% 45.42%
Net Earnings $1.133M -$27.73K
YoY Change -4184.91% -101.3%
Net Earnings / Revenue 14.69% -0.41%
Basic Earnings Per Share $0.09
Diluted Earnings Per Share $0.09 -$2.356K
COMMON SHARES
Basic Shares Outstanding 12.24M shares 11.77M shares
Diluted Shares Outstanding 12.26M shares 12.05M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.820M $5.370M
YoY Change -10.24% -47.92%
Cash & Equivalents $4.820M $5.370M
Short-Term Investments
Other Short-Term Assets $244.2K $175.6K
YoY Change 39.06% 95.1%
Inventory $7.896M $9.255M
Prepaid Expenses $244.2K $175.6K
Receivables $5.604M $3.350M
Other Receivables $0.00 $0.00
Total Short-Term Assets $18.56M $18.15M
YoY Change 2.28% 5.58%
LONG-TERM ASSETS
Property, Plant & Equipment $4.345M $3.690M
YoY Change 17.77% 101.91%
Goodwill $2.534M $2.534M
YoY Change 0.0%
Intangibles $2.864M $3.040M
YoY Change -5.79%
Long-Term Investments $3.016M $1.873M
YoY Change 61.02% 204836.87%
Other Assets $1.570M $1.914M
YoY Change -18.0% 87.67%
Total Long-Term Assets $15.01M $14.09M
YoY Change 6.57% 380.11%
TOTAL ASSETS
Total Short-Term Assets $18.56M $18.15M
Total Long-Term Assets $15.01M $14.09M
Total Assets $33.58M $32.24M
YoY Change 4.15% 60.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $516.0K $760.8K
YoY Change -32.17% 38.32%
Accrued Expenses $391.1K $205.9K
YoY Change 89.98%
Deferred Revenue
YoY Change
Short-Term Debt $1.640M $2.500M
YoY Change -34.38% 900.0%
Long-Term Debt Due $990.1K $671.3K
YoY Change 47.48% 233.68%
Total Short-Term Liabilities $6.147M $6.541M
YoY Change -6.03% 158.46%
LONG-TERM LIABILITIES
Long-Term Debt $3.203M $3.703M
YoY Change -13.49% 7261.04%
Other Long-Term Liabilities $252.8K $546.2K
YoY Change -53.72%
Total Long-Term Liabilities $3.203M $3.703M
YoY Change -13.49% 7261.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.147M $6.541M
Total Long-Term Liabilities $3.203M $3.703M
Total Liabilities $10.66M $12.15M
YoY Change -12.28% 370.87%
SHAREHOLDERS EQUITY
Retained Earnings $4.854M $2.449M
YoY Change 98.19% -25.59%
Common Stock $12.24K $12.02K
YoY Change 1.86% -99.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $20.36M $17.40M
YoY Change
Total Liabilities & Shareholders Equity $33.58M $32.24M
YoY Change 4.15% 60.19%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $1.133M -$27.73K
YoY Change -4184.91% -101.3%
Depreciation, Depletion And Amortization $281.3K $297.7K
YoY Change -5.53% 396.24%
Cash From Operating Activities $4.299M $3.888M
YoY Change 10.59% 168.12%
INVESTING ACTIVITIES
Capital Expenditures -$464.9K -$41.75K
YoY Change 1013.44% 317.5%
Acquisitions
YoY Change
Other Investing Activities $110.0K $163.7K
YoY Change -32.83% -93.26%
Cash From Investing Activities -$354.9K $122.0K
YoY Change -390.88% -94.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.557M -2.212M
YoY Change 15.62% 4323.04%
NET CHANGE
Cash From Operating Activities 4.299M 3.888M
Cash From Investing Activities -354.9K 122.0K
Cash From Financing Activities -2.557M -2.212M
Net Change In Cash 1.387M 1.798M
YoY Change -22.85% -52.8%
FREE CASH FLOW
Cash From Operating Activities $4.299M $3.888M
Capital Expenditures -$464.9K -$41.75K
Free Cash Flow $4.764M $3.930M
YoY Change 21.24% 169.15%

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Significant influence is generally deemed to exist if the Company's ownership interest in the voting stock of the investee ranges between 20% and 50%, although other factors, such as representation on the investee's board of directors, are considered in determining whether the equity method of accounting is appropriate.
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us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
125999 usd
us-gaap Gain Loss On Sale Of Equity Investments
GainLossOnSaleOfEquityInvestments
467153 usd
us-gaap Gain Loss On Sale Of Equity Investments
GainLossOnSaleOfEquityInvestments
259514 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1113307 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-834543 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-187313 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
22126 usd
FSI Paymentof Distributions To Noncontrolling Interest
PaymentofDistributionsToNoncontrollingInterest
-197239 usd
FSI Paymentof Distributions To Noncontrolling Interest
PaymentofDistributionsToNoncontrollingInterest
usd
CY2020Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9941 usd
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
89047 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-67668 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
181111 usd
CY2020Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16438 usd
CY2019 us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
1071350 usd
us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
725272 usd

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