$HKHC

2017 Q1 Form 10-Q Financial Statement

#000156459017010873 Filed on May 15, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $10.44M $7.860M
YoY Change 32.82% 13.09%
Cost Of Revenue $5.620M $3.860M
YoY Change 45.6% 3.21%
Gross Profit $4.820M $4.000M
YoY Change 20.5% 24.61%
Gross Profit Margin 46.17% 50.89%
Selling, General & Admin $2.980M $2.690M
YoY Change 10.78% 7.17%
% of Gross Profit 61.83% 67.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $191.6K $45.30K
YoY Change 322.96% 14.68%
% of Gross Profit 3.98% 1.13%
Operating Expenses $2.980M $2.690M
YoY Change 10.78% 7.17%
Operating Profit $1.840M $1.310M
YoY Change 40.46% 87.14%
Interest Expense -$40.00K -$10.00K
YoY Change 300.0% 0.0%
% of Operating Profit -2.17% -0.76%
Other Income/Expense, Net $0.00 $10.00K
YoY Change -100.0%
Pretax Income $1.800M $1.309M
YoY Change 37.53% 88.02%
Income Tax $720.0K $550.0K
% Of Pretax Income 40.01% 42.03%
Net Earnings $1.080M $760.0K
YoY Change 42.11% 11.76%
Net Earnings / Revenue 10.34% 9.67%
Basic Earnings Per Share
Diluted Earnings Per Share $89.40K $63.70K
COMMON SHARES
Basic Shares Outstanding 11.86M 11.71M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.720M $5.950M
YoY Change -71.09% -1.65%
Cash & Equivalents $1.724M $5.947M
Short-Term Investments
Other Short-Term Assets $500.0K $360.0K
YoY Change 38.89% 5.88%
Inventory $5.460M $5.190M
Prepaid Expenses
Receivables $4.100M $2.810M
Other Receivables $0.00 $0.00
Total Short-Term Assets $11.78M $14.31M
YoY Change -17.68% 25.93%
LONG-TERM ASSETS
Property, Plant & Equipment $590.0K $550.0K
YoY Change 7.27% 49.17%
Goodwill $1.521M
YoY Change
Intangibles $6.614M
YoY Change
Long-Term Investments
YoY Change
Other Assets $970.0K $2.090M
YoY Change -53.59% 4080.0%
Total Long-Term Assets $9.700M $2.640M
YoY Change 267.42% 529.02%
TOTAL ASSETS
Total Short-Term Assets $11.78M $14.31M
Total Long-Term Assets $9.700M $2.640M
Total Assets $21.48M $16.95M
YoY Change 26.73% 43.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.430M $1.710M
YoY Change -16.37% 41.3%
Accrued Expenses $536.1K $290.0K
YoY Change 84.86% -61.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K
YoY Change
Total Short-Term Liabilities $3.120M $2.040M
YoY Change 52.94% 3.92%
LONG-TERM LIABILITIES
Long-Term Debt $943.6K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $943.6K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.120M $2.040M
Total Long-Term Liabilities $943.6K $0.00
Total Liabilities $4.070M $2.040M
YoY Change 99.51% 3.92%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.41M $14.92M
YoY Change
Total Liabilities & Shareholders Equity $21.48M $16.95M
YoY Change 26.73% 43.85%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $1.080M $760.0K
YoY Change 42.11% 11.76%
Depreciation, Depletion And Amortization $191.6K $45.30K
YoY Change 322.96% 14.68%
Cash From Operating Activities $590.0K -$1.050M
YoY Change -156.19% -800.0%
INVESTING ACTIVITIES
Capital Expenditures $44.40K $168.1K
YoY Change -73.59% 2171.62%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$40.00K -$170.0K
YoY Change -76.47% 1600.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $200.0K $0.00
YoY Change
Cash From Financing Activities -920.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 590.0K -1.050M
Cash From Investing Activities -40.00K -170.0K
Cash From Financing Activities -920.0K 0.000
Net Change In Cash -370.0K -1.220M
YoY Change -69.67% -913.33%
FREE CASH FLOW
Cash From Operating Activities $590.0K -$1.050M
Capital Expenditures $44.40K $168.1K
Free Cash Flow $545.6K -$1.218M
YoY Change -144.79% -954.21%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q1 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
925600
CY2016Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
1392600
CY2017Q1 us-gaap Goodwill
Goodwill
1520600
CY2016Q4 us-gaap Goodwill
Goodwill
1520600
CY2017Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6613900
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6769100
CY2017Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
536100
CY2016Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
964800
CY2017Q1 us-gaap Deferred Revenue
DeferredRevenue
114700
CY2016Q4 us-gaap Deferred Revenue
DeferredRevenue
0
CY2016Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
800000
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3704200
CY2017Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
0
CY2016Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
750000
CY2017Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
943600
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
200000
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
28100
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-921900
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
0
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0
CY2017Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
191600
CY2016Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45300
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
63400
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
64500
CY2017Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
467000
CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
517900
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
641100
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1798100
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-180200
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
492000
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
174900
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
131900
CY2017Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
251600
CY2016Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
25000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-941100
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-37000
CY2017Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
114700
CY2016Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0
CY2017Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-488600
CY2016Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-1806300
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
592500
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1049800
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44400
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
168100
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-44400
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-168100
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
750000
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-373800
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1217900
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7165100
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5947200
CY2017Q1 us-gaap Interest Paid Net
InterestPaidNet
41900
CY2016Q1 us-gaap Interest Paid Net
InterestPaidNet
7400
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<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;">(d)</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</font> <font style="font-style:italic;">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, stock-based compensation, and purchase price allocation. Actual results could differ from our estimates. </p></div>
CY2016Q1 slgd Weighted Average Option Granted Fair Value
WeightedAverageOptionGrantedFairValue
3488
CY2017Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2017Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
0
CY2017Q1 us-gaap Long Term Debt
LongTermDebt
1800000
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
2000000
CY2017Q1 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2017Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.399
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.422
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
972800
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1184700
CY2017Q1 us-gaap Sales Allowances Goods
SalesAllowancesGoods
619700
CY2016Q1 us-gaap Sales Allowances Goods
SalesAllowancesGoods
451600
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P10Y
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.015
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.34
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2017Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
566400
CY2017Q1 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
0
CY2017Q1 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
631600
CY2016Q1 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
346800
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11710745
CY2016Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
0
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
306395
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
216379
CY2017Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
26308
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1799700
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1308600
CY2017Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7079400
CY2017Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
465500
CY2017Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6613900
CY2017Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
8134500
CY2017Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
155200
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
465500
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
620700
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
620700
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
620700
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
617600
CY2017Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
3668700
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
600000
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
800000
CY2017Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
400000
CY2017Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1800000
CY2017Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
56400
CY2017Q1 slgd Long Term Debt And Line Of Credit Net
LongTermDebtAndLineOfCreditNet
1743600
CY2017Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
6300

Files In Submission

Name View Source Status
0001564590-17-010873-index-headers.html Edgar Link pending
0001564590-17-010873-index.html Edgar Link pending
0001564590-17-010873.txt Edgar Link pending
0001564590-17-010873-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
slgd-10q_20170331.htm Edgar Link pending
slgd-20170331.xml Edgar Link completed
slgd-20170331.xsd Edgar Link pending
slgd-20170331_cal.xml Edgar Link unprocessable
slgd-20170331_def.xml Edgar Link unprocessable
slgd-20170331_lab.xml Edgar Link unprocessable
slgd-20170331_pre.xml Edgar Link unprocessable
slgd-ex311_7.htm Edgar Link pending
slgd-ex312_8.htm Edgar Link pending
slgd-ex321_6.htm Edgar Link pending