$FTEK
FUEL TECH, INC.

2016 Q2 Form 10-Q Financial Statement

#000084691316000136 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $15.18M $18.68M
YoY Change -18.78% -7.46%
Cost Of Revenue $9.595M $11.55M
YoY Change -16.9% -1.11%
Gross Profit $5.580M $7.136M
YoY Change -21.8% -16.18%
Gross Profit Margin 36.77% 38.2%
Selling, General & Admin $6.760M $8.400M
YoY Change -19.52% -6.24%
% of Gross Profit 121.15% 117.71%
Research & Development $295.0K $982.0K
YoY Change -69.96% 336.44%
% of Gross Profit 5.29% 13.76%
Depreciation & Amortization $570.0K $1.070M
YoY Change -46.73% 67.19%
% of Gross Profit 10.22% 14.99%
Operating Expenses $7.055M $9.382M
YoY Change -24.8% 2.16%
Operating Profit -$1.475M -$2.246M
YoY Change -34.33% 234.72%
Interest Expense $0.00 $3.000K
YoY Change -100.0% -91.18%
% of Operating Profit
Other Income/Expense, Net -$221.0K -$65.00K
YoY Change 240.0% 66.67%
Pretax Income -$1.690M -$2.307M
YoY Change -26.74% 212.6%
Income Tax $111.0K -$936.0K
% Of Pretax Income
Net Earnings -$2.628M -$1.371M
YoY Change 91.68% 90.42%
Net Earnings / Revenue -17.32% -7.34%
Basic Earnings Per Share -$0.03 -$0.06
Diluted Earnings Per Share -$0.11 -$0.06
COMMON SHARES
Basic Shares Outstanding 23.38M shares 23.14M shares
Diluted Shares Outstanding 23.38M shares 23.14M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.40M $15.00M
YoY Change -17.33% -11.76%
Cash & Equivalents $12.43M $14.97M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $10.00M $8.300M
YoY Change 20.48% 45.61%
Inventory $1.498M $1.390M
Prepaid Expenses
Receivables $22.43M $29.54M
Other Receivables $0.00 $0.00
Total Short-Term Assets $46.43M $54.29M
YoY Change -14.47% -10.02%
LONG-TERM ASSETS
Property, Plant & Equipment $11.25M $12.74M
YoY Change -11.72% -4.98%
Goodwill $2.116M $2.116M
YoY Change 0.0% -92.58%
Intangibles $6.381M $9.507M
YoY Change -32.88% 133.99%
Long-Term Investments
YoY Change
Other Assets $1.320M $1.368M
YoY Change -3.51% -26.88%
Total Long-Term Assets $22.27M $30.01M
YoY Change -25.78% -37.3%
TOTAL ASSETS
Total Short-Term Assets $46.43M $54.29M
Total Long-Term Assets $22.27M $30.01M
Total Assets $68.70M $84.29M
YoY Change -18.5% -22.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.267M $8.964M
YoY Change -18.93% 5.35%
Accrued Expenses $6.000M $6.400M
YoY Change -6.25% -28.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.31M $15.39M
YoY Change -13.54% -22.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $503.0K $500.0K
YoY Change 0.6% -1.77%
Total Long-Term Liabilities $503.0K $500.0K
YoY Change 0.6% -1.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.31M $15.39M
Total Long-Term Liabilities $503.0K $500.0K
Total Liabilities $13.81M $15.89M
YoY Change -13.09% -22.27%
SHAREHOLDERS EQUITY
Retained Earnings -$79.40M -$64.78M
YoY Change 22.57% 41.33%
Common Stock $136.7M $134.7M
YoY Change 1.5% 0.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.214M $1.042M
YoY Change 16.51% 38.38%
Treasury Stock Shares 354.9K shares 251.8K shares
Shareholders Equity $54.89M $68.40M
YoY Change
Total Liabilities & Shareholders Equity $68.70M $84.29M
YoY Change -18.5% -22.09%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$2.628M -$1.371M
YoY Change 91.68% 90.42%
Depreciation, Depletion And Amortization $570.0K $1.070M
YoY Change -46.73% 67.19%
Cash From Operating Activities $3.390M -$2.430M
YoY Change -239.51% 3371.43%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$100.0K
YoY Change 110.0% -88.51%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$210.0K -$110.0K
YoY Change 90.91% -98.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -120.0K -900.0K
YoY Change -86.67% -204.65%
NET CHANGE
Cash From Operating Activities 3.390M -2.430M
Cash From Investing Activities -210.0K -110.0K
Cash From Financing Activities -120.0K -900.0K
Net Change In Cash 3.060M -3.440M
YoY Change -188.95% -57.84%
FREE CASH FLOW
Cash From Operating Activities $3.390M -$2.430M
Capital Expenditures -$210.0K -$100.0K
Free Cash Flow $3.600M -$2.330M
YoY Change -254.51% -391.25%

Facts In Submission

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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-8000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
501000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
503000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-65000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-161000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-221000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-484000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
252000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
172000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
383000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
302000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3889000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2390000 USD
CY2015Q4 us-gaap Prepaid Taxes
PrepaidTaxes
1857000 USD
CY2016Q2 us-gaap Prepaid Taxes
PrepaidTaxes
659000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1122000 USD
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
26000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
0 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-7020000 USD
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
1000 USD
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
268000 USD
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
268000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
268000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
159000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
0 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
8000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
-109000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12001000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11247000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
151000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
1636000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0 USD
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
982000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1854000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2280000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.12
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
7020000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-74132000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-79398000 USD
CY2015Q2 us-gaap Revenues
Revenues
18683000 USD
us-gaap Revenues
Revenues
33786000 USD
CY2016Q2 us-gaap Revenues
Revenues
15175000 USD
us-gaap Revenues
Revenues
32997000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16603000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6760000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14239000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
833000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1041000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1121750 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
150375 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.79
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
81000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1191125 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1121750 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.48
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.58
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M26D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M26D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
58974000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
54885000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
251792 shares
CY2016Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
354889 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1042000 USD
CY2016Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1214000 USD
CY2015Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
7312000 USD
CY2016Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
7292000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
140000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
140000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23140000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23034000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23381000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23283000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23140000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23034000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23381000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23283000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares

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