2014 Q2 Form 10-Q Financial Statement

#000119312514308395 Filed on August 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $126.3M $104.7M
YoY Change 20.69%
Cost Of Revenue $91.50M $78.43M
YoY Change 16.66%
Gross Profit $34.81M $26.26M
YoY Change 32.58%
Gross Profit Margin 27.55% 25.08%
Selling, General & Admin $29.50M $23.01M
YoY Change 28.21%
% of Gross Profit 84.75% 87.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $700.0K $5.100M
YoY Change -86.27% 45.71%
% of Gross Profit 2.01% 19.42%
Operating Expenses $30.30M $23.01M
YoY Change 31.68%
Operating Profit $4.509M $2.492M
YoY Change 80.94%
Interest Expense -$700.0K $582.0K
YoY Change -220.27%
% of Operating Profit -15.52% 23.35%
Other Income/Expense, Net -$100.0K -$347.0K
YoY Change -71.18%
Pretax Income $3.800M $2.145M
YoY Change 77.16%
Income Tax $1.500M $709.0K
% Of Pretax Income 39.47% 33.05%
Net Earnings $2.307M $1.226M
YoY Change 88.17%
Net Earnings / Revenue 1.83% 1.17%
Basic Earnings Per Share
Diluted Earnings Per Share $74.68K $54.55K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100M $3.900M
YoY Change 30.77%
Cash & Equivalents $5.133M $3.900M
Short-Term Investments
Other Short-Term Assets $5.130M $6.900M
YoY Change -25.65%
Inventory $21.87M $19.10M
Prepaid Expenses
Receivables $63.33M $56.10M
Other Receivables $2.300M $1.800M
Total Short-Term Assets $99.34M $87.80M
YoY Change 13.14%
LONG-TERM ASSETS
Property, Plant & Equipment $35.13M $26.80M
YoY Change 31.08%
Goodwill $50.53M
YoY Change
Intangibles $12.86M
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.957M $3.100M
YoY Change 27.65%
Total Long-Term Assets $67.35M $93.70M
YoY Change -28.12%
TOTAL ASSETS
Total Short-Term Assets $99.34M $87.80M
Total Long-Term Assets $67.35M $93.70M
Total Assets $201.8M $181.5M
YoY Change 11.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.48M $36.40M
YoY Change 22.19%
Accrued Expenses $9.100M $8.600M
YoY Change 5.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $122.0K $6.900M
YoY Change -98.23%
Total Short-Term Liabilities $70.20M $58.30M
YoY Change 20.42%
LONG-TERM LIABILITIES
Long-Term Debt $7.294M $43.30M
YoY Change -83.15%
Other Long-Term Liabilities $11.08M $9.000M
YoY Change 23.11%
Total Long-Term Liabilities $18.37M $52.30M
YoY Change -64.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.20M $58.30M
Total Long-Term Liabilities $18.37M $52.30M
Total Liabilities $115.9M $121.4M
YoY Change -4.52%
SHAREHOLDERS EQUITY
Retained Earnings -$68.91M
YoY Change
Common Stock $319.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $85.91M -$40.18M
YoY Change
Total Liabilities & Shareholders Equity $201.8M $181.5M
YoY Change 11.19%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $2.307M $1.226M
YoY Change 88.17%
Depreciation, Depletion And Amortization $700.0K $5.100M
YoY Change -86.27% 45.71%
Cash From Operating Activities $2.600M $1.000M
YoY Change 160.0% -137.04%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$800.0K
YoY Change 0.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $300.0K $900.0K
YoY Change -66.67% -18.18%
Cash From Investing Activities -$500.0K $100.0K
YoY Change -600.0% -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.100M -200.0K
YoY Change 950.0% -104.76%
NET CHANGE
Cash From Operating Activities 2.600M 1.000M
Cash From Investing Activities -500.0K 100.0K
Cash From Financing Activities -2.100M -200.0K
Net Change In Cash -0.0000000009313 900.0K
YoY Change -100.0% -50.0%
FREE CASH FLOW
Cash From Operating Activities $2.600M $1.000M
Capital Expenditures -$800.0K -$800.0K
Free Cash Flow $3.400M $1.800M
YoY Change 88.89% -194.74%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <u>Use of Estimates</u></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 the allowance for doubtful accounts, valuation allowance on deferred tax assets, intangible assets and other long-lived assets, share based compensation, reserves for general liability, workers&#x2019; compensation, and medical insurance, as well as common stock and redeemable preferred stock prior to our IPO. Management believes the accounting estimates are appropriate and reasonably determined; however, due to the inherent uncertainties in making these estimates, actual amounts could differ from such estimates.</p> </div>
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