2024 Q1 Form 10-Q Financial Statement

#000155837024002825 Filed on March 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $45.06M $66.11M
YoY Change -17.6% 4.16%
Cost Of Revenue $35.36M $48.69M
YoY Change -15.73% 6.09%
Gross Profit $9.695M $17.42M
YoY Change -23.77% -0.86%
Gross Profit Margin 21.52% 26.35%
Selling, General & Admin $11.52M $14.04M
YoY Change 0.27% -5.59%
% of Gross Profit 118.77% 80.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $908.0K $953.0K
YoY Change -13.85% -0.94%
% of Gross Profit 9.37% 5.47%
Operating Expenses $11.52M $14.04M
YoY Change 0.27% -5.59%
Operating Profit -$1.820M $3.379M
YoY Change -247.49% 25.24%
Interest Expense $131.0K $495.0K
YoY Change 718.75% -33.29%
% of Operating Profit 14.65%
Other Income/Expense, Net -$513.0K -$373.0K
YoY Change -180.03% -73.13%
Pretax Income -$2.249M $3.501M
YoY Change -215.93% 70.61%
Income Tax -$600.0K $1.079M
% Of Pretax Income 30.82%
Net Earnings -$1.648M $2.422M
YoY Change -223.91% 70.08%
Net Earnings / Revenue -3.66% 3.66%
Basic Earnings Per Share -$0.25 $0.37
Diluted Earnings Per Share -$0.25 $0.36
COMMON SHARES
Basic Shares Outstanding 6.483M 6.472M
Diluted Shares Outstanding 6.483M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.94M $41.78M
YoY Change -33.31% -34.63%
Cash & Equivalents $37.94M $41.78M
Short-Term Investments
Other Short-Term Assets $10.97M $8.529M
YoY Change -2.38% -10.18%
Inventory $165.0M $158.0M
Prepaid Expenses $10.20M $7.789M
Receivables $33.13M $39.97M
Other Receivables $0.00 $0.00
Total Short-Term Assets $247.1M $248.2M
YoY Change -9.02% -7.4%
LONG-TERM ASSETS
Property, Plant & Equipment $7.725M $8.859M
YoY Change -8.04% 4.43%
Goodwill $0.00
YoY Change
Intangibles $931.0K $994.0K
YoY Change -22.67% -20.22%
Long-Term Investments $10.44M $9.756M
YoY Change 5.29% 5.64%
Other Assets $10.44M $9.756M
YoY Change 5.29% 5.64%
Total Long-Term Assets $42.98M $42.36M
YoY Change 7.62% 10.98%
TOTAL ASSETS
Total Short-Term Assets $247.1M $248.2M
Total Long-Term Assets $42.98M $42.36M
Total Assets $290.1M $290.6M
YoY Change -6.89% -5.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.05M $29.66M
YoY Change -26.52% -23.52%
Accrued Expenses $3.845M $4.092M
YoY Change -13.71% -24.18%
Deferred Revenue $3.906M $2.827M
YoY Change -34.8% -41.58%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.80M $54.97M
YoY Change -24.53% -25.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.63M $13.30M
YoY Change 29.88% 30.54%
Total Long-Term Liabilities $14.70M $13.39M
YoY Change 29.56% 30.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.80M $54.97M
Total Long-Term Liabilities $14.70M $13.39M
Total Liabilities $65.50M $68.36M
YoY Change -16.73% -18.23%
SHAREHOLDERS EQUITY
Retained Earnings $177.4M $180.1M
YoY Change -1.54% 0.14%
Common Stock $651.0K $646.0K
YoY Change -1.21% -1.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $224.6M $222.2M
YoY Change
Total Liabilities & Shareholders Equity $290.1M $290.6M
YoY Change -6.89% -5.11%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$1.648M $2.422M
YoY Change -223.91% 70.08%
Depreciation, Depletion And Amortization $908.0K $953.0K
YoY Change -13.85% -0.94%
Cash From Operating Activities -$2.569M $3.359M
YoY Change -67.83% -152.43%
INVESTING ACTIVITIES
Capital Expenditures $444.0K $827.0K
YoY Change 107.48% -246.37%
Acquisitions
YoY Change
Other Investing Activities $15.00K $410.0K
YoY Change -20600.0%
Cash From Investing Activities -$817.0K -$417.0K
YoY Change 36.39% -26.46%
FINANCING ACTIVITIES
Cash Dividend Paid $1.032M
YoY Change 3.72%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.347M -1.072M
YoY Change -24.37% 7.74%
NET CHANGE
Cash From Operating Activities -2.569M 3.359M
Cash From Investing Activities -817.0K -417.0K
Cash From Financing Activities -1.347M -1.072M
Net Change In Cash -3.848M 1.870M
YoY Change -45.29% -123.47%
FREE CASH FLOW
Cash From Operating Activities -$2.569M $3.359M
Capital Expenditures $444.0K $827.0K
Free Cash Flow -$3.013M $2.532M
YoY Change -63.26% -143.34%

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CY2024Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
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CY2023Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
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CY2024Q1 us-gaap Product Warranty Accrual
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CY2023Q1 us-gaap Product Warranty Accrual
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q1 us-gaap Product Warranty Accrual Warranties Issued
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