2022 Q3 Form 10-Q Financial Statement

#000117184322005375 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $26.92M $29.21M $28.78M
YoY Change -9.24% 0.04% 6.63%
Cost Of Revenue $14.75M $12.57M $12.60M
YoY Change 10.45% -2.13% 9.02%
Gross Profit $12.17M $16.64M $16.18M
YoY Change -25.36% 1.74% 4.83%
Gross Profit Margin 45.21% 56.96% 56.21%
Selling, General & Admin $12.14M $12.57M $13.01M
YoY Change 4.31% 3.62% 11.03%
% of Gross Profit 99.76% 75.54% 80.44%
Research & Development $2.763M $3.497M $3.220M
YoY Change 3.87% 29.47% 29.47%
% of Gross Profit 22.7% 21.02% 19.9%
Depreciation & Amortization $1.936M $1.830M $382.0K
YoY Change 3.03% -4.19% -14.16%
% of Gross Profit 15.91% 11.0% 2.36%
Operating Expenses $15.93M $12.64M $22.89M
YoY Change 1.1% -22.44% 46.07%
Operating Profit -$3.762M $3.998M -$6.712M
YoY Change -786.5% 6793.1% 2708.37%
Interest Expense -$749.0K -$515.0K -$384.0K
YoY Change 100.8% 36.6% -6.57%
% of Operating Profit -12.88%
Other Income/Expense, Net -$928.0K -$577.0K -$306.0K
YoY Change 84.49% -16.38% -31.24%
Pretax Income -$4.690M $3.421M -$7.018M
YoY Change -10522.22% -641.3% 926.02%
Income Tax -$1.300M $1.000M -$100.0K
% Of Pretax Income 29.23%
Net Earnings -$3.405M $2.435M -$6.880M
YoY Change 1902.94% -693.9% 928.4%
Net Earnings / Revenue -12.65% 8.34% -23.91%
Basic Earnings Per Share -$0.08 $0.06 -$0.17
Diluted Earnings Per Share -$81.78K $0.06 -$166.9K
COMMON SHARES
Basic Shares Outstanding 41.64M 41.30M 41.22M
Diluted Shares Outstanding 41.64M 42.56M 41.22M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.144M $4.259M $5.433M
YoY Change -7.28% -31.71% -6.33%
Cash & Equivalents $5.144M $4.259M $5.433M
Short-Term Investments
Other Short-Term Assets $5.535M $5.056M $5.030M
YoY Change -4.9% -3.14% 37.51%
Inventory $26.12M $29.34M $28.71M
Prepaid Expenses
Receivables $15.02M $17.85M $20.27M
Other Receivables $5.535M $5.056M $5.030M
Total Short-Term Assets $51.82M $56.50M $59.45M
YoY Change -6.95% 5.49% 20.77%
LONG-TERM ASSETS
Property, Plant & Equipment $3.555M $3.394M $3.499M
YoY Change 2.95% -1.02% -5.41%
Goodwill $54.85M $56.23M $57.36M
YoY Change -5.41% -3.75% -1.48%
Intangibles $22.46M $24.22M $25.88M
YoY Change -22.38% -20.62% -18.85%
Long-Term Investments
YoY Change
Other Assets $8.306M $8.694M $5.258M
YoY Change 1047.24% 973.33% 547.54%
Total Long-Term Assets $95.20M $98.78M $98.60M
YoY Change -3.05% -1.63% -3.36%
TOTAL ASSETS
Total Short-Term Assets $51.82M $56.50M $59.45M
Total Long-Term Assets $95.20M $98.78M $98.60M
Total Assets $147.0M $155.3M $158.0M
YoY Change -4.46% 0.85% 4.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.877M $6.810M $6.218M
YoY Change 4.65% -9.07% -3.09%
Accrued Expenses $8.165M $8.192M $7.725M
YoY Change 8.74% 25.61% 43.06%
Deferred Revenue $3.642M $3.612M $3.956M
YoY Change 0.52% -1.71% 8.77%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $3.000M $3.000M
YoY Change 9.09% 20.0% 33.33%
Total Short-Term Liabilities $21.36M $23.35M $27.23M
YoY Change -9.13% 0.37% 31.41%
LONG-TERM LIABILITIES
Long-Term Debt $46.53M $45.76M $46.24M
YoY Change 8.88% 11.83% 11.16%
Other Long-Term Liabilities $420.0K $418.0K $598.0K
YoY Change -83.02% -83.53% -79.0%
Total Long-Term Liabilities $46.95M $46.18M $46.84M
YoY Change 3.85% 6.27% 5.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.36M $23.35M $27.23M
Total Long-Term Liabilities $46.95M $46.18M $46.84M
Total Liabilities $75.03M $77.77M $81.67M
YoY Change -2.53% 3.32% 10.16%
SHAREHOLDERS EQUITY
Retained Earnings -$140.5M -$137.1M -$139.6M
YoY Change 5.16% 2.74% 4.88%
Common Stock $228.7M $227.9M $226.7M
YoY Change 1.4% 0.81% -3.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $71.98M $77.50M $76.38M
YoY Change
Total Liabilities & Shareholders Equity $147.0M $155.3M $158.0M
YoY Change -4.46% 0.85% 4.49%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$3.405M $2.435M -$6.880M
YoY Change 1902.94% -693.9% 928.4%
Depreciation, Depletion And Amortization $1.936M $1.830M $382.0K
YoY Change 3.03% -4.19% -14.16%
Cash From Operating Activities $649.0K -$190.0K -$1.986M
YoY Change -198.33% -124.84% -291.51%
INVESTING ACTIVITIES
Capital Expenditures -$442.0K -$442.0K $471.0K
YoY Change -7.92% 113.53% 211.92%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$442.0K -$442.0K -$471.0K
YoY Change -7.92% 113.53% 56.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $936.0K
YoY Change 87.2%
Cash From Financing Activities 377.0K -578.0K $94.00K
YoY Change -22.59% 199.48% -102.99%
NET CHANGE
Cash From Operating Activities 649.0K -190.0K -$1.986M
Cash From Investing Activities -442.0K -442.0K -$471.0K
Cash From Financing Activities 377.0K -578.0K $94.00K
Net Change In Cash 584.0K -1.210M -$2.388M
YoY Change -189.43% -431.51% -4.56%
FREE CASH FLOW
Cash From Operating Activities $649.0K -$190.0K -$1.986M
Capital Expenditures -$442.0K -$442.0K $471.0K
Free Cash Flow $1.091M $252.0K -$2.457M
YoY Change -706.11% -74.07% -377.31%

Facts In Submission

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us-gaap Operating Lease Cost
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ShortTermLeaseCost
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1359291
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.11
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1239000 usd
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1164000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2262000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2132000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.92
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41304000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40152000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41256000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39960000
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1256000
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42560000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40152000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41256000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1300000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1500000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29208000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29197000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
57986000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
56186000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29208000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29197000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
57986000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
56186000 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3612000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4266000 usd
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
600000 usd
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
136000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
227000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
107000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-17000 usd
hbio Accounts Receivable Allowance For Credit Loss Chargeoffs And Other Reoveries
AccountsReceivableAllowanceForCreditLossChargeoffsAndOtherReoveries
48000 usd
hbio Accounts Receivable Allowance For Credit Loss Chargeoffs And Other Reoveries
AccountsReceivableAllowanceForCreditLossChargeoffsAndOtherReoveries
65000 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
195000 usd
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
145000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000.0 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.288 pure
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.351 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.180 pure

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