2015 Q1 Form 10-Q Financial Statement

#000004625015000005 Filed on February 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q4 2013 Q4
Revenue $93.28M $83.83M $81.70M
YoY Change 9.46% 2.6% -4.48%
Cost Of Revenue $77.80M $70.18M $68.15M
YoY Change 9.58% 2.99% -2.91%
Gross Profit $15.53M $13.64M $13.55M
YoY Change 9.0% 0.68% 66.75%
Gross Profit Margin 16.65% 16.27% 16.59%
Selling, General & Admin $9.532M $8.697M $8.167M
YoY Change 17.97% 6.49% 7.22%
% of Gross Profit 61.37% 63.75% 60.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.770M $3.180M $2.930M
YoY Change 28.67% 8.53% 19.11%
% of Gross Profit 24.27% 23.31% 21.62%
Operating Expenses $9.532M $8.697M $8.167M
YoY Change 17.97% 6.49% 7.22%
Operating Profit $5.999M $4.945M $5.383M
YoY Change -2.76% -8.14% 957.56%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0% 0.0%
Other Income/Expense, Net
YoY Change
Pretax Income $6.000M $4.960M $5.392M
YoY Change -3.23% -8.01% 891.18%
Income Tax $2.100M $1.814M $1.912M
% Of Pretax Income 35.0% 36.57% 35.46%
Net Earnings $3.900M $3.146M $3.480M
YoY Change -9.2% -9.6% 158.16%
Net Earnings / Revenue 4.18% 3.75% 4.26%
Basic Earnings Per Share $0.37 $0.30 $0.33
Diluted Earnings Per Share $0.37 $0.30 $0.33
COMMON SHARES
Basic Shares Outstanding 10.65M shares 10.56M shares 10.55M shares
Diluted Shares Outstanding 10.61M shares 10.60M shares

Balance Sheet

Concept 2015 Q1 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.12M $35.07M $41.81M
YoY Change -30.01% -16.13% -3.66%
Cash & Equivalents $18.64M $18.99M $27.86M
Short-Term Investments $14.49M $16.07M $13.95M
Other Short-Term Assets $3.100M $3.200M $3.400M
YoY Change -3.13% -5.88% 17.24%
Inventory $37.03M $37.02M $30.72M
Prepaid Expenses
Receivables $40.36M $34.63M $34.32M
Other Receivables $700.0K $400.0K $0.00
Total Short-Term Assets $114.3M $110.3M $110.3M
YoY Change -0.25% 0.0% -1.39%
LONG-TERM ASSETS
Property, Plant & Equipment $93.73M $92.21M $91.35M
YoY Change 3.6% 0.95% 5.61%
Goodwill $11.75M $11.75M $7.392M
YoY Change 58.96% 58.96%
Intangibles $11.15M $11.42M $8.692M
YoY Change 31.08% 31.34%
Long-Term Investments $17.20M $16.30M $12.90M
YoY Change 8.18% 26.36% 89.71%
Other Assets $239.0K $203.0K $322.0K
YoY Change -30.52% -36.96% 7.33%
Total Long-Term Assets $134.1M $131.9M $120.7M
YoY Change 9.43% 9.24% 11.65%
TOTAL ASSETS
Total Short-Term Assets $114.3M $110.3M $110.3M
Total Long-Term Assets $134.1M $131.9M $120.7M
Total Assets $248.5M $242.1M $230.9M
YoY Change 4.75% 4.83% 5.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.08M $18.21M $17.50M
YoY Change 9.71% 4.03% -15.05%
Accrued Expenses $6.100M $5.900M $5.600M
YoY Change 8.93% 5.36% 16.67%
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 $36.34M $30.38M $31.40M
YoY Change 1.43% -3.25% -3.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.588M $752.0K $1.786M
YoY Change -15.44% -57.89% -78.22%
Total Long-Term Liabilities $1.588M $752.0K $1.786M
YoY Change -15.44% -57.89% -78.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.34M $30.38M $31.40M
Total Long-Term Liabilities $1.588M $752.0K $1.786M
Total Liabilities $54.50M $48.19M $50.02M
YoY Change -0.51% -3.65% -2.5%
SHAREHOLDERS EQUITY
Retained Earnings $142.6M $142.7M $131.0M
YoY Change 8.48% 8.97%
Common Stock $51.43M $51.24M $50.18M
YoY Change 0.78% 2.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.0M $193.9M $180.9M
YoY Change
Total Liabilities & Shareholders Equity $248.5M $242.1M $230.9M
YoY Change 4.75% 4.83% 5.02%

Cashflow Statement

Concept 2015 Q1 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $3.900M $3.146M $3.480M
YoY Change -9.2% -9.6% 158.16%
Depreciation, Depletion And Amortization $3.770M $3.180M $2.930M
YoY Change 28.67% 8.53% 19.11%
Cash From Operating Activities $3.620M $7.450M $10.11M
YoY Change -62.68% -26.31% 54.59%
INVESTING ACTIVITIES
Capital Expenditures -$4.460M -$3.850M -$3.960M
YoY Change 151.98% -2.78% -51.71%
Acquisitions
YoY Change
Other Investing Activities $700.0K -$7.490M -$3.580M
YoY Change -125.18% 109.22% 2457.14%
Cash From Investing Activities -$3.760M -$11.34M -$7.540M
YoY Change -17.36% 50.4% -9.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -210.0K -3.820M -3.830M
YoY Change -143.75% -0.26% 14.67%
NET CHANGE
Cash From Operating Activities 3.620M 7.450M 10.11M
Cash From Investing Activities -3.760M -11.34M -7.540M
Cash From Financing Activities -210.0K -3.820M -3.830M
Net Change In Cash -350.0K -7.710M -1.260M
YoY Change -106.22% 511.9% -75.44%
FREE CASH FLOW
Cash From Operating Activities $3.620M $7.450M $10.11M
Capital Expenditures -$4.460M -$3.850M -$3.960M
Free Cash Flow $8.080M $11.30M $14.07M
YoY Change -29.56% -19.69% -4.55%

Facts In Submission

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CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
30381000 USD
CY2014Q1 us-gaap Long Term Investments
LongTermInvestments
15852000 USD
CY2014Q4 us-gaap Long Term Investments
LongTermInvestments
16268000 USD
CY2014Q1 us-gaap Marketable Securities
MarketableSecurities
13843000 USD
CY2014Q4 us-gaap Marketable Securities
MarketableSecurities
16072000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7205000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8877000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18562000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22656000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24912000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17041000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
5383000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
3480000 USD
us-gaap Net Income Loss
NetIncomeLoss
13799000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
3146000 USD
us-gaap Net Income Loss
NetIncomeLoss
15314000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
us-gaap Operating Income Loss
OperatingIncomeLoss
21921000 USD
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
4945000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
24417000 USD
CY2014Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3801000 USD
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3500000 USD
CY2014Q1 us-gaap Other Assets
OtherAssets
32097000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
39637000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
344000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
203000 USD
CY2013Q4 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-17000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-61000 USD
CY2014Q4 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-8000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
5000 USD
CY2013Q4 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-38000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-38000 USD
CY2014Q4 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
0 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-55000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-99000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1878000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
752000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
0 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1464000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7410000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7859000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
485000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
295000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2416000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
10068000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
17956000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
12394000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10489000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10086000 USD
CY2014Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3160000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3203000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
12185000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
9755000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
114000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
137000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
92214000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
90469000 USD
CY2014Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
158875000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
168027000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
131427000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
142705000 USD
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
81697000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
263040000 USD
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
83825000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
270742000 USD
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8167000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25430000 USD
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8697000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25843000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
946000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1233000 USD
CY2014Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
300000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
40020 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1500000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
182413000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
193910000 USD
CY2013Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
48053 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
52285 shares
CY2014Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
49750 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
58747 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10595935 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10590880 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10614740 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10623148 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10547882 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10538595 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10564990 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10564401 shares

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