2018 Q2 Form 10-Q Financial Statement

#000153702818000069 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $25.75M $21.29M
YoY Change 21.0% 40.45%
Cost Of Revenue $17.97M $15.81M
YoY Change 13.66% 113.65%
Gross Profit $7.790M $5.480M
YoY Change 42.15% -29.38%
Gross Profit Margin 30.25% 25.75%
Selling, General & Admin $3.495M $3.435M
YoY Change 1.75% -31.37%
% of Gross Profit 44.87% 62.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.580M $6.330M
YoY Change 3.95% 8.95%
% of Gross Profit 84.47% 115.51%
Operating Expenses $3.495M $3.435M
YoY Change 1.75% -31.37%
Operating Profit -$2.396M -$5.584M
YoY Change -57.09% 80.07%
Interest Expense -$940.0K -$690.0K
YoY Change 36.23% -34.91%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$3.334M -$6.270M
YoY Change -46.83% 50.72%
Income Tax -$21.00K $34.00K
% Of Pretax Income
Net Earnings -$3.313M -$6.304M
YoY Change -47.45% 50.42%
Net Earnings / Revenue -12.86% -29.62%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.733M -$3.351M
COMMON SHARES
Basic Shares Outstanding 38.25M shares 37.68M shares
Diluted Shares Outstanding 38.25M shares 37.68M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.600M $5.500M
YoY Change -52.73% -22.54%
Cash & Equivalents $2.554M $5.465M
Short-Term Investments
Other Short-Term Assets $5.900M $10.10M
YoY Change -41.58% 225.81%
Inventory $2.900M $2.400M
Prepaid Expenses
Receivables $19.70M $12.95M
Other Receivables $0.00 $0.00
Total Short-Term Assets $31.04M $30.94M
YoY Change 0.3% 58.49%
LONG-TERM ASSETS
Property, Plant & Equipment $279.1M $271.7M
YoY Change 2.71% -3.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.316M $865.0K
YoY Change 52.14% -35.4%
Total Long-Term Assets $280.4M $272.6M
YoY Change 2.86% -3.15%
TOTAL ASSETS
Total Short-Term Assets $31.04M $30.94M
Total Long-Term Assets $280.4M $272.6M
Total Assets $311.4M $303.5M
YoY Change 2.6% 0.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.66M $10.83M
YoY Change 35.44% 178.56%
Accrued Expenses $7.070M $5.867M
YoY Change 20.5% -9.19%
Deferred Revenue $425.0K
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 $22.27M $17.16M
YoY Change 29.79% 60.07%
LONG-TERM LIABILITIES
Long-Term Debt $59.50M $39.50M
YoY Change 50.63% 136.53%
Other Long-Term Liabilities $100.0K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $59.60M $39.50M
YoY Change 50.89% 135.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.27M $17.16M
Total Long-Term Liabilities $59.60M $39.50M
Total Liabilities $82.50M $57.16M
YoY Change 44.31% 105.93%
SHAREHOLDERS EQUITY
Retained Earnings -$97.10M -$77.92M
YoY Change 24.62% 63.1%
Common Stock $328.3M $326.0M
YoY Change 0.69% 1.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.219M $1.719M
YoY Change 29.09% 17.02%
Treasury Stock Shares 344.7K shares 218.2K shares
Shareholders Equity $228.9M $246.4M
YoY Change
Total Liabilities & Shareholders Equity $311.4M $303.5M
YoY Change 2.6% 0.85%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$3.313M -$6.304M
YoY Change -47.45% 50.42%
Depreciation, Depletion And Amortization $6.580M $6.330M
YoY Change 3.95% 8.95%
Cash From Operating Activities $1.460M $3.670M
YoY Change -60.22% -55.02%
INVESTING ACTIVITIES
Capital Expenditures -$6.760M -$8.720M
YoY Change -22.48% 80.17%
Acquisitions
YoY Change
Other Investing Activities $180.0K $1.050M
YoY Change -82.86% 262.07%
Cash From Investing Activities -$6.590M -$7.680M
YoY Change -14.19% 68.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.180M 2.180M
YoY Change 137.61% -155.47%
NET CHANGE
Cash From Operating Activities 1.460M 3.670M
Cash From Investing Activities -6.590M -7.680M
Cash From Financing Activities 5.180M 2.180M
Net Change In Cash 50.00K -1.830M
YoY Change -102.73% 454.55%
FREE CASH FLOW
Cash From Operating Activities $1.460M $3.670M
Capital Expenditures -$6.760M -$8.720M
Free Cash Flow $8.220M $12.39M
YoY Change -33.66% -4.69%

Facts In Submission

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CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-3313000 USD
us-gaap Net Income Loss
NetIncomeLoss
-7459000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5584000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-11177000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-2396000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-5648000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
361000 USD
CY2018Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
562000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1364000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1316000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
24000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
350000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
8000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
215000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
455000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
95000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17367000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13023000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2957000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3986000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
22611000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
27441000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1060000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
327000 USD
CY2017 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
2700000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
275105000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
279082000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
22000 USD
CY2018Q2 us-gaap Purchase Obligation
PurchaseObligation
8300000 USD
CY2018Q2 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
8100000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
9363000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
17200000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
308000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
330000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-89645000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-97104000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21285000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
41521000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2219000 USD
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-95000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
350000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37679000 shares
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25754000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51381000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
233000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
202000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
435000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P2Y
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3435000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7153000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3938000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7417000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2169000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1362000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
682950 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.74
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
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
CY2018Q2 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
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.74
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y09M0D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
235482000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
228940000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
2693000 USD
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
1691000 USD
CY2017Q2 us-gaap Tenant Improvements
TenantImprovements
0 USD
CY2018Q2 us-gaap Tenant Improvements
TenantImprovements
100000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
261694 shares
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
344682 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1869000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37613000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38253000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38188000 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37679000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37613000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38253000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38188000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37679000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37613000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38253000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38188000 shares

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