2020 Q2 Form 10-Q Financial Statement

#000143774920018008 Filed on August 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $26.00M $19.72M $18.19M
YoY Change 31.82% 20.15% 10.37%
Cost Of Revenue $10.02M $8.367M $7.852M
YoY Change 19.77% 24.34% 25.71%
Gross Profit $15.98M $11.36M $10.34M
YoY Change 40.7% 17.24% 1.02%
Gross Profit Margin 61.46% 57.58% 56.84%
Selling, General & Admin $10.16M $9.352M $9.734M
YoY Change 8.63% 7.19% 15.03%
% of Gross Profit 63.58% 82.35% 94.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.932M $1.224M $1.225M
YoY Change 466.34% -3.62% -5.04%
% of Gross Profit 43.38% 10.78% 11.85%
Operating Expenses $11.47M $10.39M $10.76M
YoY Change 10.47% 5.01% 11.52%
Operating Profit $4.506M $971.0K -$420.0K
YoY Change 364.06% -575.98% -171.43%
Interest Expense $332.0K $488.0K $460.0K
YoY Change -31.97% 64.86% 46.03%
% of Operating Profit 7.37% 50.26%
Other Income/Expense, Net -$9.000K -$39.00K -$21.00K
YoY Change -76.92% -4000.0% 90.91%
Pretax Income $4.165M $444.0K -$901.0K
YoY Change 838.06% -188.98% -443.89%
Income Tax $25.00K $63.00K $59.00K
% Of Pretax Income 0.6% 14.19%
Net Earnings $4.140M $381.0K -$960.0K
YoY Change 986.61% -175.45% -570.59%
Net Earnings / Revenue 15.92% 1.93% -5.28%
Basic Earnings Per Share $0.21 $0.02 -$0.05
Diluted Earnings Per Share $0.19 $0.02 -$0.05
COMMON SHARES
Basic Shares Outstanding 20.08M 19.71M 19.58M
Diluted Shares Outstanding 21.64M 20.58M 19.58M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $482.0K $1.702M $1.900M
YoY Change -71.68% -29.08% 26.67%
Cash & Equivalents $482.0K $1.702M $1.900M
Short-Term Investments
Other Short-Term Assets $1.457M $1.368M $1.470M
YoY Change 6.51% -16.28% 31.96%
Inventory $4.262M $2.742M $2.553M
Prepaid Expenses
Receivables $16.61M $11.22M $10.48M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.81M $17.03M $16.40M
YoY Change 33.96% 7.26% 3.82%
LONG-TERM ASSETS
Property, Plant & Equipment $4.424M $1.539M $1.368M
YoY Change 187.46% -0.06% -11.51%
Goodwill
YoY Change
Intangibles $13.31M $17.62M $18.74M
YoY Change -24.43% -20.51% -19.66%
Long-Term Investments
YoY Change
Other Assets $141.0K $194.0K $149.0K
YoY Change -27.32% 41.61% 9.56%
Total Long-Term Assets $61.16M $55.33M $50.85M
YoY Change 10.53% 16.15% 3.41%
TOTAL ASSETS
Total Short-Term Assets $22.81M $17.03M $16.40M
Total Long-Term Assets $61.16M $55.33M $50.85M
Total Assets $83.97M $72.36M $67.25M
YoY Change 16.04% 13.92% 3.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.841M $10.21M $9.672M
YoY Change -23.17% 70.53% 74.43%
Accrued Expenses $1.374M $1.479M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.526M $6.084M $5.337M
YoY Change 23.7% 100.33% 75.62%
Total Short-Term Liabilities $20.12M $20.53M $18.48M
YoY Change -2.03% 76.0% 69.37%
LONG-TERM LIABILITIES
Long-Term Debt $33.34M $27.48M $27.52M
YoY Change 21.34% 25.12% 21.13%
Other Long-Term Liabilities $4.192M $4.021M $1.479M
YoY Change 4.25% 2237.79% 7295.0%
Total Long-Term Liabilities $33.34M $52.11M $47.50M
YoY Change -36.01% 53.89% 40.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.12M $20.53M $18.48M
Total Long-Term Liabilities $33.34M $52.11M $47.50M
Total Liabilities $57.77M $72.64M $65.98M
YoY Change -20.48% 59.55% 47.79%
SHAREHOLDERS EQUITY
Retained Earnings -$57.65M -$63.31M -$63.69M
YoY Change -8.94% 2.22% 3.68%
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 $26.20M $20.25M $19.74M
YoY Change
Total Liabilities & Shareholders Equity $83.97M $72.36M $67.25M
YoY Change 16.04% 13.92% 3.51%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $4.140M $381.0K -$960.0K
YoY Change 986.61% -175.45% -570.59%
Depreciation, Depletion And Amortization $6.932M $1.224M $1.225M
YoY Change 466.34% -3.62% -5.04%
Cash From Operating Activities $3.705M $3.050M $1.269M
YoY Change 21.48% -19.74% 20.51%
INVESTING ACTIVITIES
Capital Expenditures -$4.927M -$4.358M -$3.535M
YoY Change 13.06% 169.01% 215.63%
Acquisitions
YoY Change
Other Investing Activities $471.0K $569.0K $764.0K
YoY Change -17.22% -25.13% -20.42%
Cash From Investing Activities -$4.456M -$3.789M -$2.771M
YoY Change 17.6% 345.76% 1579.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 928.0K 541.0K -916.0K
YoY Change 71.53% -125.76% -67.6%
NET CHANGE
Cash From Operating Activities 3.705M 3.050M 1.269M
Cash From Investing Activities -4.456M -3.789M -2.771M
Cash From Financing Activities 928.0K 541.0K -916.0K
Net Change In Cash 177.0K -198.0K -2.418M
YoY Change -189.39% -123.29% 24.7%
FREE CASH FLOW
Cash From Operating Activities $3.705M $3.050M $1.269M
Capital Expenditures -$4.927M -$4.358M -$3.535M
Free Cash Flow $8.632M $7.408M $4.804M
YoY Change 16.52% 36.68% 121.08%

Facts In Submission

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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
741000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
208000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
680000
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PaymentsToAcquirePropertyPlantAndEquipment
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PreferredStockParOrStatedValuePerShare
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PreferredStockSharesAuthorized
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CY2019Q4 us-gaap Preferred Stock Value
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26259000
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971000
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us-gaap Proceeds From Stock Plans
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74000
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CY2020Q2 us-gaap Property Plant And Equipment Gross
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us-gaap Provision For Doubtful Accounts
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523000
us-gaap Provision For Doubtful Accounts
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CY2020Q2 us-gaap Provision For Doubtful Accounts
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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19644590
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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20082590
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19708422
us-gaap Weighted Average Number Of Shares Outstanding Basic
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20000444

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