$HKHC

2016 Q1 Form 10-K Financial Statement

#000156459016015579 Filed on March 30, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2014 Q4 2014
Revenue $7.860M $6.910M $24.34M
YoY Change 13.09% 36.83% 26.18%
Cost Of Revenue $3.860M $3.930M $13.69M
YoY Change 3.21% 38.87% 30.77%
Gross Profit $4.000M $2.980M $10.65M
YoY Change 24.61% 34.23% 20.77%
Gross Profit Margin 50.89% 43.13% 43.76%
Selling, General & Admin $2.690M $2.380M $8.538M
YoY Change 7.17% 10.7% 15.67%
% of Gross Profit 67.25% 79.87% 80.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.30K $40.00K $173.6K
YoY Change 14.68% 33.33% 24.0%
% of Gross Profit 1.13% 1.34% 1.63%
Operating Expenses $2.690M $2.380M $8.538M
YoY Change 7.17% 10.7% -53.87%
Operating Profit $1.310M $600.0K $2.114M
YoY Change 87.14% 757.14% 169.65%
Interest Expense -$10.00K -$10.00K $29.20K
YoY Change 0.0% 0.0% -63.5%
% of Operating Profit -0.76% -1.67% 1.38%
Other Income/Expense, Net $10.00K $10.00K $34.00K
YoY Change 13.33%
Pretax Income $1.309M $600.0K $2.137M
YoY Change 88.02% 900.0% 189.57%
Income Tax $550.0K $20.00K $43.90K
% Of Pretax Income 42.03% 3.33% 2.05%
Net Earnings $760.0K $580.0K $2.093M
YoY Change 11.76% 1060.0% 225.11%
Net Earnings / Revenue 9.67% 8.39% 8.6%
Basic Earnings Per Share $0.18
Diluted Earnings Per Share $63.70K $49.28K $0.18
COMMON SHARES
Basic Shares Outstanding 11.71M 11.54M 11.51M
Diluted Shares Outstanding 11.78M

Balance Sheet

Concept 2016 Q1 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.950M $5.900M $5.897M
YoY Change -1.65% 88.5% 88.39%
Cash & Equivalents $5.947M $5.897M $5.897M
Short-Term Investments
Other Short-Term Assets $360.0K $350.0K $346.0K
YoY Change 5.88% 29.63% 28.15%
Inventory $5.190M $2.690M $2.690M
Prepaid Expenses $346.0K
Receivables $2.810M $1.041M $1.041M
Other Receivables $0.00 $0.00 $3.700K
Total Short-Term Assets $14.31M $9.977M $9.977M
YoY Change 25.93% 28.09% 28.08%
LONG-TERM ASSETS
Property, Plant & Equipment $550.0K $400.8K $400.8K
YoY Change 49.17% -22.66% -22.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.090M $51.00K $51.00K
YoY Change 4080.0% 0.0% 2.0%
Total Long-Term Assets $2.640M $451.8K $451.8K
YoY Change 529.02% -20.63% -20.74%
TOTAL ASSETS
Total Short-Term Assets $14.31M $9.977M $9.977M
Total Long-Term Assets $2.640M $451.8K $451.8K
Total Assets $16.95M $10.43M $10.43M
YoY Change 43.85% 24.78% 24.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.710M $616.3K $616.3K
YoY Change 41.3% -28.41% -28.34%
Accrued Expenses $290.0K $700.0K $700.1K
YoY Change -61.33% 18.64% 18.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $2.040M $1.316M $1.316M
YoY Change 3.92% -9.06% -9.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.040M $1.316M $1.316M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.040M $1.316M $1.316M
YoY Change 3.92% -9.06% -9.21%
SHAREHOLDERS EQUITY
Retained Earnings $2.244M
YoY Change 1392.81%
Common Stock $6.869M
YoY Change 1.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.92M $9.113M $9.113M
YoY Change
Total Liabilities & Shareholders Equity $16.95M $10.43M $10.43M
YoY Change 43.85% 24.78% 24.75%

Cashflow Statement

Concept 2016 Q1 2014 Q4 2014
OPERATING ACTIVITIES
Net Income $760.0K $580.0K $2.093M
YoY Change 11.76% 1060.0% 225.11%
Depreciation, Depletion And Amortization $45.30K $40.00K $173.6K
YoY Change 14.68% 33.33% 24.0%
Cash From Operating Activities -$1.050M $1.540M $2.786M
YoY Change -800.0% -833.33% -207.65%
INVESTING ACTIVITIES
Capital Expenditures $168.1K $0.00 $57.00K
YoY Change 2171.62% -100.0% -72.6%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$170.0K $0.00 -$57.00K
YoY Change 1600.0% -100.0% -100.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00 $0.00
YoY Change -100.0%
Cash From Financing Activities 0.000 0.000 41.90K
YoY Change -100.0% -100.0% -101.29%
NET CHANGE
Cash From Operating Activities -1.050M 1.540M 2.786M
Cash From Investing Activities -170.0K 0.000 -57.00K
Cash From Financing Activities 0.000 0.000 41.90K
Net Change In Cash -1.220M 1.540M 2.770M
YoY Change -913.33% -955.56% -3.55%
FREE CASH FLOW
Cash From Operating Activities -$1.050M $1.540M $2.786M
Capital Expenditures $168.1K $0.00 $57.00K
Free Cash Flow -$1.218M $1.540M $2.729M
YoY Change -954.21% -870.0% -197.6%

Facts In Submission

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<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:18pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:18pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><font style="font-style:italic;">Use of Estimates</font> </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts in our financial statements of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include, but are not limited to, the realization of deferred tax assets, reserves for slow moving and obsolete inventory, customer returns and allowances, coupon redemptions and stock-based compensation. Actual results could differ from our estimates. </p></div>
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CY2014 us-gaap Current Federal Tax Expense Benefit
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33900
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CurrentStateAndLocalTaxExpenseBenefit
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CY2014 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
10000
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
51700
CY2014 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
43900
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DeferredFederalIncomeTaxExpenseBenefit
741700
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
724700
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
81200
CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
61800
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IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-3379100
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-786500
CY2015 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-2115700
CY2014 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
33900
CY2015 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
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StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
10000
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
773700
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
726700
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.33
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015 slgd Weighted Average Option Granted Fair Value
WeightedAverageOptionGrantedFairValue
755105
CY2015 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
1462600
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IncomeTaxReconciliationOtherAdjustments
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IncomeTaxReconciliationOtherAdjustments
24600
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IncomeTaxExpenseBenefitBeforeChangeInValuationAllowance
874600
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DeferredIncomeTaxLiabilities
58400
CY2015Q4 slgd Deferred Tax Assets Liabilities Net Before Valuation
DeferredTaxAssetsLiabilitiesNetBeforeValuation
2556200
CY2014Q4 slgd Deferred Tax Assets Liabilities Net Before Valuation
DeferredTaxAssetsLiabilitiesNetBeforeValuation
3379100
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
69300
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
61900
CY2015 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
0
CY2014 us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
-17600
CY2015 slgd Income Tax Reconciliation Permanent Differences
IncomeTaxReconciliationPermanentDifferences
54800
CY2014 slgd Income Tax Reconciliation Permanent Differences
IncomeTaxReconciliationPermanentDifferences
34800
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3379100
CY2015Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2556200
CY2014 slgd Income Tax Expense Benefit Before Change In Valuation Allowance
IncomeTaxExpenseBenefitBeforeChangeInValuationAllowance
830400
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1833100
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2840800
CY2015Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
413800
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
344800
CY2015Q4 slgd Deferred Tax Assets Trade Receivables
DeferredTaxAssetsTradeReceivables
205200
CY2014Q4 slgd Deferred Tax Assets Trade Receivables
DeferredTaxAssetsTradeReceivables
178000
CY2015Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
70600
CY2014Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
28200
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
38800
CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
35400
CY2015Q4 us-gaap Deferred Tax Assets Other
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20800
CY2014Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
10300
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2582300
CY2014Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3437500
CY2015Q4 slgd Deferred Tax Liabilities Accelerated Depreciation For Tax Purposes
DeferredTaxLiabilitiesAcceleratedDepreciationForTaxPurposes
26100
CY2014Q4 slgd Deferred Tax Liabilities Accelerated Depreciation For Tax Purposes
DeferredTaxLiabilitiesAcceleratedDepreciationForTaxPurposes
58400
CY2015Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
26100
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2015Q4 slgd Operating Loss Carryforwards For Financial Reporting Purposes
OperatingLossCarryforwardsForFinancialReportingPurposes
4348400
CY2015 slgd Tax Deduction For Compensation Expense
TaxDeductionForCompensationExpense
29500
CY2015Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Alternative Minimum Tax
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127000
CY2014Q4 us-gaap Unrecognized Tax Benefits
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0
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
395100
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
395100
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2011Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3000000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Method Of Measuring Cost Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardMethodOfMeasuringCostOfAward
Options granted after May 2011, pursuant to the plan amendment in May 2011, are required to be granted at not less than the higher of (1) 120% of current market price on the date of grant or (2) the average of market price over the prior 30 trading days
CY2015 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
0
CY2014 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
0
CY2015Q4 us-gaap Shares Held In Employee Stock Option Plan Allocated
SharesHeldInEmployeeStockOptionPlanAllocated
670675
CY2014Q4 us-gaap Shares Held In Employee Stock Option Plan Allocated
SharesHeldInEmployeeStockOptionPlanAllocated
830682
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11446800
CY2015 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
84726
CY2014 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
61144
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
281523
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
273895
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2275400
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2137300
CY2015 us-gaap Deferred Compensation Arrangement With Individual Requisite Service Period1
DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1
P4M
CY2015 slgd Minimum Age Of Employee For Becoming Eligible In Plan
MinimumAgeOfEmployeeForBecomingEligibleInPlan
P18Y
CY2015Q4 slgd Defined Contribution Plan Employee Maximum Defer Percentage
DefinedContributionPlanEmployeeMaximumDeferPercentage
0.75
CY2015 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.06
CY2013Q1 slgd Operating Lease Additional Rent Per Square Foot Criteria For Uncontrolled Operating Expenses Increase Minimum Percentage
OperatingLeaseAdditionalRentPerSquareFootCriteriaForUncontrolledOperatingExpensesIncreaseMinimumPercentage
0.05
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
47200
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
50300
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
34900
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
14500
CY2015Q4 slgd Operating Leases Future Minimum Payments Due After Two Years
OperatingLeasesFutureMinimumPaymentsDueAfterTwoYears
0
CY2015Q4 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0

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