2024 Q1 Form 10-Q Financial Statement

#000114036124007011 Filed on February 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $7.890M $8.080M
YoY Change 12.51% 32.72%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $139.0K $129.0K
YoY Change -14.72% -41.36%
% of Gross Profit
Depreciation & Amortization $314.0K $436.0K
YoY Change 44.7% 104.69%
% of Gross Profit
Operating Expenses $139.0K $129.0K
YoY Change -14.72% -41.36%
Operating Profit
YoY Change
Interest Expense $3.486M $3.177M
YoY Change 126.36% 315.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $908.0K $807.0K
YoY Change -31.88% -62.59%
Income Tax $176.0K -$196.0K
% Of Pretax Income 19.38% -24.29%
Net Earnings $732.0K $1.003M
YoY Change -31.07% -41.45%
Net Earnings / Revenue 9.28% 12.41%
Basic Earnings Per Share $0.24 $0.33
Diluted Earnings Per Share $0.24 $0.33
COMMON SHARES
Basic Shares Outstanding 3.144M 3.133M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $8.019M $8.668M
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 $18.16M $17.61M
YoY Change 9.42% 9.43%
Goodwill $2.990M $2.990M
YoY Change 0.0%
Intangibles $1.275M $1.354M
YoY Change -22.07%
Long-Term Investments
YoY Change
Other Assets $1.273M $1.173M
YoY Change 16.15% -19.71%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $643.0M $654.2M
YoY Change -6.26% 13.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $2.679M $2.510M
YoY Change -9.55% 19.47%
Deferred Revenue
YoY Change
Short-Term Debt $8.916M $9.995M
YoY Change 4.57% 48.56%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.60M $12.50M
YoY Change 0.93% 495.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $11.60M $12.50M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $590.5M $601.6M
YoY Change -7.14% 13.97%
SHAREHOLDERS EQUITY
Retained Earnings $14.26M $13.93M
YoY Change 20.58% 24.94%
Common Stock $32.00K $31.00K
YoY Change 3.23% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.55M $52.59M
YoY Change
Total Liabilities & Shareholders Equity $643.0M $654.2M
YoY Change -6.26% 13.47%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $732.0K $1.003M
YoY Change -31.07% -41.45%
Depreciation, Depletion And Amortization $314.0K $436.0K
YoY Change 44.7% 104.69%
Cash From Operating Activities $650.0K -$2.640M
YoY Change -82.38% -480.4%
INVESTING ACTIVITIES
Capital Expenditures $792.0K $860.0K
YoY Change 8.94% 424.39%
Acquisitions
YoY Change
Other Investing Activities $11.27M $11.19M
YoY Change -113.34% -195.9%
Cash From Investing Activities $10.48M $10.33M
YoY Change -112.29% -187.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.78M -7.893M
YoY Change -111.04% 32.66%
NET CHANGE
Cash From Operating Activities 650.0K -2.640M
Cash From Investing Activities 10.48M 10.33M
Cash From Financing Activities -11.78M -7.893M
Net Change In Cash -649.0K -207.0K
YoY Change -102.58% -98.79%
FREE CASH FLOW
Cash From Operating Activities $650.0K -$2.640M
Capital Expenditures $792.0K $860.0K
Free Cash Flow -$142.0K -$3.500M
YoY Change -104.79% -760.38%

Facts In Submission

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CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
868000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5173000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
628000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
4545000
CY2023Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
494830000
CY2023Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7127000
CY2023Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
487703000
CY2023Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12854000
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
245000
CY2023Q2 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
7127000
CY2023Q2 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
878000
CY2023Q2 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
6249000
CY2023Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
7127000
CY2023Q2 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
628000
CY2023 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
8818000
hfbl Mortgage Loans In Process Of Foreclosure Number
MortgageLoansInProcessOfForeclosureNumber
0
CY2023 hfbl Financing Receivable Modifications Number Of Contract
FinancingReceivableModificationsNumberOfContract
1
CY2023Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
10000
hfbl Financing Receivable Modifications Number Of Contract
FinancingReceivableModificationsNumberOfContract
0
CY2023Q4 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
1600000
CY2023Q2 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
1600000
CY2023Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
136217000
CY2023Q2 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
145553000
CY2023Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
65185000
CY2023Q2 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
65335000
CY2023Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
92415000
CY2023Q2 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
114195000
CY2023Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
70623000
CY2023Q2 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
81895000
CY2023Q4 hfbl Transaction Accounts Amount
TransactionAccountsAmount
364440000
CY2023Q2 hfbl Transaction Accounts Amount
TransactionAccountsAmount
406978000
CY2023Q4 us-gaap Time Deposits
TimeDeposits
219249000
CY2023Q2 us-gaap Time Deposits
TimeDeposits
190383000
CY2023Q4 us-gaap Deposits
Deposits
583689000
CY2023Q2 us-gaap Deposits
Deposits
597361000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
1003000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
1713000
us-gaap Net Income Loss
NetIncomeLoss
2223000
us-gaap Net Income Loss
NetIncomeLoss
3384000
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3040000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2995000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3033000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3084000
CY2023Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
45000
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
136000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
64000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
149000
CY2023Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3085000
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3131000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3097000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3233000
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.1
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.05
CY2023Q4 hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberDuringPeriod
364916
CY2022Q4 hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberDuringPeriod
385816
CY2023Q4 hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceDuringPeriod
11.65
CY2022Q4 hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceDuringPeriod
11.81
hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberDuringPeriod
364916
hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberDuringPeriod
389125
hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceDuringPeriod
11.65
hfbl Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price During Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceDuringPeriod
11.81
CY2023Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
6125000
CY2022Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
6125000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
6125000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
6125000
CY2023Q4 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
96000
CY2022Q4 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
119000
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
100000
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
122000
CY2023Q4 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
2989000
CY2022Q4 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
3011000
us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
2992000
us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
2919000
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3040000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2995000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3033000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3084000
CY2023Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
2900000
CY2023Q2 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
4100000
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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