2018 Q1 Form 10-Q Financial Statement

#000153702818000045 Filed on April 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $25.63M $20.24M
YoY Change 26.64% -9.88%
Cost Of Revenue $18.93M $14.90M
YoY Change 27.05% 18.54%
Gross Profit $6.700M $5.340M
YoY Change 25.47% -46.01%
Gross Profit Margin 26.14% 26.39%
Selling, General & Admin $3.479M $3.718M
YoY Change -6.43% 2.68%
% of Gross Profit 51.93% 69.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.590M $6.260M
YoY Change 5.27% 7.38%
% of Gross Profit 98.36% 117.23%
Operating Expenses $3.479M $3.718M
YoY Change -6.43% 2.68%
Operating Profit -$3.252M -$5.593M
YoY Change -41.86% -1086.42%
Interest Expense -$940.0K -$630.0K
YoY Change 49.21% -35.71%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.195M -$6.223M
YoY Change -32.59% 1417.8%
Income Tax -$49.00K $46.00K
% Of Pretax Income
Net Earnings -$4.146M -$6.269M
YoY Change -33.87% 1414.25%
Net Earnings / Revenue -16.18% -30.98%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.173M -$3.335M
COMMON SHARES
Basic Shares Outstanding 38.12M shares 37.55M shares
Diluted Shares Outstanding 38.12M shares 37.55M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.500M $7.300M
YoY Change -65.75% -1.35%
Cash & Equivalents $2.503M $7.288M
Short-Term Investments
Other Short-Term Assets $5.300M $8.000M
YoY Change -33.75% 128.57%
Inventory $2.800M $2.500M
Prepaid Expenses
Receivables $16.24M $12.28M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.84M $30.03M
YoY Change -10.6% 8.26%
LONG-TERM ASSETS
Property, Plant & Equipment $274.0M $274.6M
YoY Change -0.18% -2.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.236M $870.0K
YoY Change 42.07% -52.22%
Total Long-Term Assets $275.3M $275.4M
YoY Change -0.05% -2.69%
TOTAL ASSETS
Total Short-Term Assets $26.84M $30.03M
Total Long-Term Assets $275.3M $275.4M
Total Assets $302.1M $305.4M
YoY Change -1.09% -1.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.50M $10.60M
YoY Change -0.9% 90.49%
Accrued Expenses $5.018M $5.272M
YoY Change -4.82% -32.22%
Deferred Revenue $335.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $500.0K
YoY Change 0.0% 25.0%
Total Short-Term Liabilities $16.03M $16.38M
YoY Change -2.16% 19.53%
LONG-TERM LIABILITIES
Long-Term Debt $53.90M $37.10M
YoY Change 45.28% -41.2%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $53.90M $37.10M
YoY Change 45.28% -41.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.03M $16.38M
Total Long-Term Liabilities $53.90M $37.10M
Total Liabilities $70.59M $53.93M
YoY Change 30.88% -30.21%
SHAREHOLDERS EQUITY
Retained Earnings -$93.79M -$71.62M
YoY Change 30.96% 64.32%
Common Stock $327.5M $324.9M
YoY Change 0.83% 16.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.219M $1.719M
YoY Change 29.09% 33.67%
Treasury Stock Shares 344.7K shares 218.2K shares
Shareholders Equity $231.5M $251.5M
YoY Change
Total Liabilities & Shareholders Equity $302.1M $305.4M
YoY Change -1.09% -1.71%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$4.146M -$6.269M
YoY Change -33.87% 1414.25%
Depreciation, Depletion And Amortization $6.590M $6.260M
YoY Change 5.27% 7.38%
Cash From Operating Activities $2.012M -$1.420M
YoY Change -241.69% -119.66%
INVESTING ACTIVITIES
Capital Expenditures $6.259M $8.645M
YoY Change -27.6% 52.28%
Acquisitions
YoY Change
Other Investing Activities $150.0K $10.00K
YoY Change 1400.0% -98.46%
Cash From Investing Activities -$6.113M -$8.632M
YoY Change -29.18% 71.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $4.071M $10.27M
YoY Change -60.36% -8250.0%
NET CHANGE
Cash From Operating Activities $2.012M -$1.420M
Cash From Investing Activities -$6.113M -$8.632M
Cash From Financing Activities $4.071M $10.27M
Net Change In Cash -$30.00K $217.0K
YoY Change -113.82% -89.5%
FREE CASH FLOW
Cash From Operating Activities $2.012M -$1.420M
Capital Expenditures $6.259M $8.645M
Free Cash Flow -$4.247M -$10.07M
YoY Change -57.8% -751.88%

Facts In Submission

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22000 USD
CY2018Q1 us-gaap Purchase Obligation
PurchaseObligation
12100000 USD
CY2018Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
11900000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2600000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
9100000 USD
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
109000 USD
CY2018Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
163000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-89645000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-93791000 USD
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20236000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25627000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
304000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
73000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
377000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P1Y
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod
P2Y
CY2017Q1 us-gaap Revenues
Revenues
20236000 USD
CY2018Q1 us-gaap Revenues
Revenues
25627000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3718000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3479000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1012000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
644000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
682950 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.74
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.00
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
682950 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
682950.00 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.74
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38124000 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37546000 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38124000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37546000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38124000 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.74
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P4Y01M0D
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-95000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
350000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
235482000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
231535000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2693000 USD
CY2018Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
1262000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
261694 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
344682 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1869000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2219000 USD
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37546000 shares

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