2017 Q2 Form 10-Q Financial Statement

#000119312517252711 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $6.409M $7.369M
YoY Change -13.03% -33.87%
Cost Of Revenue $1.906M $1.667M
YoY Change 14.34% -48.94%
Gross Profit $4.503M $5.702M
YoY Change -21.03% -27.62%
Gross Profit Margin 70.26% 77.38%
Selling, General & Admin $4.779M $4.738M
YoY Change 0.87% -13.78%
% of Gross Profit 106.13% 83.09%
Research & Development $2.232M $2.204M
YoY Change 1.27% -2.99%
% of Gross Profit 49.57% 38.65%
Depreciation & Amortization $400.0K $590.0K
YoY Change -32.2% -41.0%
% of Gross Profit 8.88% 10.35%
Operating Expenses $7.127M $7.235M
YoY Change -1.49% -79.74%
Operating Profit -$2.624M -$1.533M
YoY Change 71.17% -94.49%
Interest Expense $10.00K $21.00K
YoY Change -52.38% -70.0%
% of Operating Profit
Other Income/Expense, Net -$10.00K -$19.00K
YoY Change -47.37% -70.77%
Pretax Income -$2.634M -$1.552M
YoY Change 69.72% -94.44%
Income Tax -$3.000K $23.00K
% Of Pretax Income
Net Earnings -$2.631M -$1.575M
YoY Change 67.05% -94.33%
Net Earnings / Revenue -41.05% -21.37%
Basic Earnings Per Share -$0.16 -$0.10
Diluted Earnings Per Share -$0.16 -$0.10
COMMON SHARES
Basic Shares Outstanding 16.31M shares 15.90M shares
Diluted Shares Outstanding 16.31M shares 15.90M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.680M $11.47M
YoY Change -33.04% -37.01%
Cash & Equivalents $7.684M $11.47M
Short-Term Investments
Other Short-Term Assets $420.0K $1.100M
YoY Change -61.82% 161.9%
Inventory $3.481M $4.476M
Prepaid Expenses
Receivables $5.477M $6.052M
Other Receivables $0.00 $0.00
Total Short-Term Assets $17.06M $23.10M
YoY Change -26.13% -22.27%
LONG-TERM ASSETS
Property, Plant & Equipment $1.138M $1.910M
YoY Change -40.42% -33.24%
Goodwill $14.10M $14.49M
YoY Change -2.72% 2.06%
Intangibles $2.922M $4.467M
YoY Change -34.59% -4.43%
Long-Term Investments
YoY Change
Other Assets $400.0K $50.00K
YoY Change 700.0% -44.44%
Total Long-Term Assets $18.56M $20.92M
YoY Change -11.29% -4.15%
TOTAL ASSETS
Total Short-Term Assets $17.06M $23.10M
Total Long-Term Assets $18.56M $20.92M
Total Assets $35.62M $44.02M
YoY Change -19.08% -14.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $946.0K $1.492M
YoY Change -36.6% -17.29%
Accrued Expenses $4.490M $4.030M
YoY Change 11.41% -4.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $490.0K
YoY Change -100.0% -60.8%
Total Short-Term Liabilities $10.52M $13.25M
YoY Change -20.58% -13.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $153.0K $7.000K
YoY Change 2085.71% -98.9%
Total Long-Term Liabilities $153.0K $7.000K
YoY Change 2085.71% -98.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.52M $13.25M
Total Long-Term Liabilities $153.0K $7.000K
Total Liabilities $11.19M $14.24M
YoY Change -21.36% -16.75%
SHAREHOLDERS EQUITY
Retained Earnings -$190.7M -$181.6M
YoY Change 5.0% 3.96%
Common Stock $216.5M $212.8M
YoY Change 1.75% 1.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.415M $1.415M
YoY Change 0.0% 0.0%
Treasury Stock Shares 185.8K shares 185.8K shares
Shareholders Equity $24.43M $29.79M
YoY Change
Total Liabilities & Shareholders Equity $35.62M $44.02M
YoY Change -19.08% -14.6%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$2.631M -$1.575M
YoY Change 67.05% -94.33%
Depreciation, Depletion And Amortization $400.0K $590.0K
YoY Change -32.2% -41.0%
Cash From Operating Activities -$1.640M -$1.040M
YoY Change 57.69% -366.67%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$90.00K
YoY Change -22.22% -68.97%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$80.00K -$90.00K
YoY Change -11.11% -95.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -140.0K -270.0K
YoY Change -48.15% -42.55%
NET CHANGE
Cash From Operating Activities -1.640M -1.040M
Cash From Investing Activities -80.00K -90.00K
Cash From Financing Activities -140.0K -270.0K
Net Change In Cash -1.860M -1.400M
YoY Change 32.86% -32.37%
FREE CASH FLOW
Cash From Operating Activities -$1.640M -$1.040M
Capital Expenditures -$70.00K -$90.00K
Free Cash Flow -$1.570M -$950.0K
YoY Change 65.26% -239.71%

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us-gaap Income Taxes Paid
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us-gaap Increase Decrease In Deferred Revenue
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-1236000
us-gaap Increase Decrease In Accounts Receivable
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-1412000
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-689000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
152000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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IncreaseDecreaseInAccountsPayable
-100000
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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3000
us-gaap Payments To Acquire Property Plant And Equipment
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223000
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6000
us-gaap Proceeds From Stock Options Exercised
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10000
us-gaap Provision For Doubtful Accounts
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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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13407000
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5446000
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SalesRevenueServicesNet
7961000
us-gaap Share Based Compensation
ShareBasedCompensation
1202000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5057000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15865000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
15865000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15865000 shares
icad Amortization Accretion Of Discounts And Premiums
AmortizationAccretionOfDiscountsAndPremiums
-4000
icad Gain Loss From Acquisition Settlement
GainLossFromAcquisitionSettlement
249000
icad General Administrative Depreciation And Amortization Expense
GeneralAdministrativeDepreciationAndAmortizationExpense
3927000
icad Amortization Of Settlement Obligations
AmortizationOfSettlementObligations
46000
icad Segment Operating Income Loss
SegmentOperatingIncomeLoss
-99000
icad Taxes Paid Related To Restricted Stock Issuance
TaxesPaidRelatedToRestrictedStockIssuance
65000
CY2015 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
116000
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
13981000
CY2016 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
394000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
552000
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300000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
185000
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CostOfServices
1182000
CY2016Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1667000
CY2016Q2 us-gaap Depreciation And Amortization
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293000
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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EarningsPerShareBasic
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ExciseAndSalesTaxes
329000
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5702000
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CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1552000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23000
CY2016Q2 us-gaap Interest Expense
InterestExpense
21000
CY2016Q2 us-gaap Lease And Rental Expense
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CY2016Q2 us-gaap Other Nonoperating Income
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CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
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SalesRevenueGoodsNet
3418000
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SalesRevenueServicesNet
3951000
CY2016Q2 us-gaap Selling And Marketing Expense
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CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
15904000 shares
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706000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1601000
CY2017Q2 us-gaap Cost Of Goods Sold Depreciation And Amortization
CostOfGoodsSoldDepreciationAndAmortization
286000
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16310000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16310000 shares
CY2017Q2 icad General Administrative Depreciation And Amortization Expense
GeneralAdministrativeDepreciationAndAmortizationExpense
2115000
CY2017Q2 icad Segment Operating Income Loss
SegmentOperatingIncomeLoss
-509000
CY2017Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
293000
CY2017Q2 us-gaap Cost Of Services
CostOfServices
1327000
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CostOfGoodsAndServicesSold
1906000
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CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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EarningsPerShareDiluted
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CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2017Q2 us-gaap Gross Profit
GrossProfit
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CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q2 us-gaap Interest Expense
InterestExpense
10000
CY2017Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2017Q2 us-gaap Sales Revenue Goods Net
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2668000
CY2017Q2 us-gaap Sales Revenue Services Net
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3741000
CY2017Q2 us-gaap Selling And Marketing Expense
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2690000
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
204756 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
204756 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16310000 shares

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