2024 Q1 Form 10-Q Financial Statement

#000114036124006651 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $26.07M $25.59M
YoY Change 18.87% 24.67%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $245.0K $220.0K
YoY Change 12.39% 1.85%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $13.78M $13.21M
YoY Change 105.4% 186.75%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.183M $6.370M
YoY Change -34.03% -26.13%
Income Tax $322.0K $663.0K
% Of Pretax Income 5.21% 10.41%
Net Earnings $5.861M $5.707M
YoY Change -27.56% -20.71%
Net Earnings / Revenue 22.48% 22.3%
Basic Earnings Per Share $0.34 $0.34
Diluted Earnings Per Share $0.34 $0.34
COMMON SHARES
Basic Shares Outstanding 17.03M 17.03M
Diluted Shares Outstanding 17.03M 17.03M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $255.8M $176.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $15.65M $15.23M
YoY Change 7.7% 5.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $2.872B $2.737B
YoY Change 5.22% 4.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $29.43M $27.59M
YoY Change 2.71% 7.32%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.43M $27.59M
YoY Change 2.71% 7.32%
LONG-TERM LIABILITIES
Long-Term Debt $49.64M $49.59M
YoY Change 0.38% 0.37%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $49.64M $49.59M
YoY Change 0.38% 0.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.43M $27.59M
Total Long-Term Liabilities $49.64M $49.59M
Total Liabilities $2.672B $2.541B
YoY Change 4.78% 3.81%
SHAREHOLDERS EQUITY
Retained Earnings $208.6M $203.4M
YoY Change 11.09% 12.83%
Common Stock $1.722M $1.722M
YoY Change 0.0% 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $199.2M $195.3M
YoY Change
Total Liabilities & Shareholders Equity $2.872B $2.737B
YoY Change 5.22% 4.6%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $5.861M $5.707M
YoY Change -27.56% -20.71%
Depreciation, Depletion And Amortization $245.0K $220.0K
YoY Change 12.39% 1.85%
Cash From Operating Activities $5.585M $2.000M
YoY Change -27.34% -64.55%
INVESTING ACTIVITIES
Capital Expenditures $664.0K $174.0K
YoY Change 121.33% -52.07%
Acquisitions
YoY Change
Other Investing Activities -$53.61M $5.270M
YoY Change -572.79% -115.7%
Cash From Investing Activities -$54.27M $5.096M
YoY Change -591.66% -115.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 128.4M 38.73M
YoY Change 30.01% 74.62%
NET CHANGE
Cash From Operating Activities 5.585M 2.000M
Cash From Investing Activities -54.27M 5.096M
Cash From Financing Activities 128.4M 38.73M
Net Change In Cash 79.74M 45.83M
YoY Change -32.14% -850.25%
FREE CASH FLOW
Cash From Operating Activities $5.585M $2.000M
Capital Expenditures $664.0K $174.0K
Free Cash Flow $4.921M $1.826M
YoY Change -33.37% -65.4%

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CY2022Q4 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
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69000
us-gaap Impaired Financing Receivable Average Recorded Investment
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10346000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
130000
CY2021 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0
CY2022 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0
CY2022Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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144000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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42000
CY2022Q4 us-gaap Provision For Loan Losses Expensed
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244000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
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22289000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
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us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
315000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
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98000
us-gaap Provision For Loan Losses Expensed
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
22289000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
2013000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
19199000
CY2023Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
10307000
CY2023Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1398484000
CY2023Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
302000
CY2023Q2 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
302000
CY2023Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
5707000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
7198000
us-gaap Net Income Loss
NetIncomeLoss
12176000
us-gaap Net Income Loss
NetIncomeLoss
16234000
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17026828
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17026828
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17026828
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17026828
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17026828
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17026828
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17026828
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17026828
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.95
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.95
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2014000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2188000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2105000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2277000
CY2023Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
115000
CY2022Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
90000
CY2023Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2023Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
106000
CY2022Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
82000
CY2023Q4 us-gaap Variable Lease Cost
VariableLeaseCost
11000
CY2022Q4 us-gaap Variable Lease Cost
VariableLeaseCost
10000
us-gaap Operating Lease Payments
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228000
us-gaap Operating Lease Payments
OperatingLeasePayments
179000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
561000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Operating Lease Cost
OperatingLeaseCost
208000
us-gaap Operating Lease Cost
OperatingLeaseCost
163000
us-gaap Variable Lease Cost
VariableLeaseCost
22000
us-gaap Variable Lease Cost
VariableLeaseCost
20000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
458000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
453000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
441000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
349000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
266000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
297000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2264000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
159000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2105000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M20D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0277
CY2023Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
221015000
CY2023Q2 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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219575000
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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