$INFU
InfuSystem Holdings, Inc

2016 Q4 Form 10-Q Financial Statement

#000119312516790858 Filed on December 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $16.85M $17.23M $18.31M
YoY Change -10.09% -5.93% 10.22%
Cost Of Revenue $5.490M $4.018M $3.580M
YoY Change 10.91% 12.23% 11.15%
Gross Profit $11.36M $10.39M $12.88M
YoY Change -17.62% -19.32% 9.78%
Gross Profit Margin 67.42% 60.31% 70.32%
Selling, General & Admin $9.850M $7.757M $8.338M
YoY Change 2.39% -6.97% 12.69%
% of Gross Profit 86.71% 74.67% 64.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.75M $1.060M $100.0K
YoY Change 30.46% 960.0% 0.0%
% of Gross Profit 94.63% 10.2% 0.78%
Operating Expenses $11.11M $9.813M $10.55M
YoY Change 3.83% -6.96% 13.57%
Operating Profit $250.0K $576.0K $2.330M
YoY Change -91.91% -75.28% -4.63%
Interest Expense -$330.0K $384.0K $338.0K
YoY Change 6.45% 13.61% -55.05%
% of Operating Profit -132.0% 66.67% 14.51%
Other Income/Expense, Net -$20.00K -$390.0K -$385.0K
YoY Change -150.0% 1.3% -48.6%
Pretax Income -$800.0K $186.0K $1.945M
YoY Change -136.04% -90.44% 14.82%
Income Tax -$330.0K $130.0K $807.0K
% Of Pretax Income 69.89% 41.49%
Net Earnings -$470.0K $56.00K $1.138M
YoY Change -130.72% -95.08% 33.57%
Net Earnings / Revenue -2.79% 0.33% 6.21%
Basic Earnings Per Share $0.00 $0.05
Diluted Earnings Per Share -$20.77K $0.00 $0.05
COMMON SHARES
Basic Shares Outstanding 22.67M shares 22.62M shares 22.45M shares
Diluted Shares Outstanding 23.00M shares 22.84M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.400M $1.100M $1.000M
YoY Change 325.0% 10.0% -47.37%
Cash & Equivalents $3.398M $1.072M $989.0K
Short-Term Investments
Other Short-Term Assets $949.0K $1.260M $824.0K
YoY Change 10.22% 52.91% 32.69%
Inventory $2.166M $2.065M $1.907M
Prepaid Expenses
Receivables $11.58M $12.22M $12.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $20.77M $19.36M $18.77M
YoY Change 9.54% 3.13% 4.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.997M $2.140M $2.321M
YoY Change -15.74% -7.8% -2.07%
Goodwill $1.000M
YoY Change
Intangibles $31.24M $31.81M $30.73M
YoY Change -0.94% 3.54% 25.61%
Long-Term Investments
YoY Change
Other Assets $225.0K $474.0K $225.0K
YoY Change -10.36% 110.67% 8.17%
Total Long-Term Assets $75.58M $77.73M $74.53M
YoY Change -1.08% 4.29% 18.1%
TOTAL ASSETS
Total Short-Term Assets $20.77M $19.36M $18.77M
Total Long-Term Assets $75.58M $77.73M $74.53M
Total Assets $96.34M $97.09M $93.30M
YoY Change 1.04% 4.06% 15.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.315M $4.676M $5.526M
YoY Change -19.3% -15.38% 20.92%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.314M $7.283M $5.266M
YoY Change 188.49% 38.3% 24.26%
Total Short-Term Liabilities $16.44M $14.65M $14.81M
YoY Change 7.75% -1.07% 22.29%
LONG-TERM LIABILITIES
Long-Term Debt $26.58M $31.36M $29.97M
YoY Change 0.11% 4.63% 26.82%
Other Long-Term Liabilities $66.00K $100.0K
YoY Change
Total Long-Term Liabilities $29.22M $31.36M $29.97M
YoY Change -1.9% 4.63% 26.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.44M $14.65M $14.81M
Total Long-Term Liabilities $29.22M $31.36M $29.97M
Total Liabilities $45.66M $46.11M $44.78M
YoY Change 1.37% 2.97% 25.28%
SHAREHOLDERS EQUITY
Retained Earnings -$41.14M -$40.67M -$42.45M
YoY Change 0.54% -4.18% -5.13%
Common Stock $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.69M $50.98M $48.52M
YoY Change
Total Liabilities & Shareholders Equity $96.34M $97.09M $93.30M
YoY Change 1.04% 4.06% 15.15%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$470.0K $56.00K $1.138M
YoY Change -130.72% -95.08% 33.57%
Depreciation, Depletion And Amortization $10.75M $1.060M $100.0K
YoY Change 30.46% 960.0% 0.0%
Cash From Operating Activities $4.170M $1.870M $1.600M
YoY Change 151.2% 16.88% -33.05%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M $190.0K $80.00K
YoY Change 109.3% 137.5% -103.02%
Acquisitions
YoY Change
Other Investing Activities $1.140M $480.0K -$1.390M
YoY Change -30.49% -134.53% -217.8%
Cash From Investing Activities -$650.0K $670.0K -$1.310M
YoY Change -183.33% -151.15% -10.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.190M -2.270M -90.00K
YoY Change -54.58% 2422.22% 0.0%
NET CHANGE
Cash From Operating Activities 4.170M 1.870M 1.600M
Cash From Investing Activities -650.0K 670.0K -1.310M
Cash From Financing Activities -1.190M -2.270M -90.00K
Net Change In Cash 2.330M 270.0K 200.0K
YoY Change -1394.44% 35.0% -76.19%
FREE CASH FLOW
Cash From Operating Activities $4.170M $1.870M $1.600M
Capital Expenditures -$1.800M $190.0K $80.00K
Free Cash Flow $5.970M $1.680M $1.520M
YoY Change 136.9% 10.53% -69.84%

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NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4686000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
200000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2511000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
50000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
445591 shares
us-gaap Operating Income Loss
OperatingIncomeLoss
1428000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
47370000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1205000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6997000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
183000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3735000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12313000
us-gaap Reductions In Other Assets Amount
ReductionsInOtherAssetsAmount
100000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
6273000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23059794 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22614203 shares
dei Trading Symbol
TradingSymbol
INFU
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
7629000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
44197000
infu Cost Of Revenues Pump Depreciation Sales And Disposals
CostOfRevenuesPumpDepreciationSalesAndDisposals
7241000
infu Reduction In Long Term Debt
ReductionInLongTermDebt
100000
infu Depreciation Expense Related To Medical Equipment
DepreciationExpenseRelatedToMedicalEquipment
4700000
infu Deadline Of Annual Financial Plan And Forecast Period
DeadlineOfAnnualFinancialPlanAndForecastPeriod
P30D
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5683000
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2015Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
756000
CY2015Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
100000
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
18311000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-385000
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-47000
CY2015Q3 us-gaap Gross Profit
GrossProfit
12877000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
10547000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
1138000
CY2015Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1453000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1945000
CY2015Q3 us-gaap Interest Expense
InterestExpense
338000
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
389522 shares
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2330000
CY2015Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
16468000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
807000
CY2015Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
3580000
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1843000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22838371 shares
CY2015Q3 us-gaap Quantifying Misstatement In Current Year Financial Statements Amount
QuantifyingMisstatementInCurrentYearFinancialStatementsAmount
381000
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22448849 shares
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2655000
CY2015Q3 infu Cost Of Revenues Pump Depreciation Sales And Disposals
CostOfRevenuesPumpDepreciationSalesAndDisposals
1854000
CY2015Q3 infu Depreciation Expense Related To Medical Equipment
DepreciationExpenseRelatedToMedicalEquipment
1300000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5267000
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
958000
CY2016Q3 us-gaap Depreciation Nonproduction
DepreciationNonproduction
100000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
17226000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-390000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000
CY2016Q3 us-gaap Gross Profit
GrossProfit
10389000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
9813000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
56000
CY2016Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1098000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
186000
CY2016Q3 us-gaap Interest Expense
InterestExpense
384000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
375257 shares
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
576000
CY2016Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
14640000
CY2016Q3 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
300000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
130000
CY2016Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4018000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2586000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22995643 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22620386 shares
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2490000
CY2016Q3 infu Cost Of Revenues Pump Depreciation Sales And Disposals
CostOfRevenuesPumpDepreciationSalesAndDisposals
2819000
CY2016Q3 infu Depreciation Expense Related To Medical Equipment
DepreciationExpenseRelatedToMedicalEquipment
1600000

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