2014 Q1 Form 10-Q Financial Statement

#000119312514165234 Filed on April 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2013 Q1
Revenue $17.02M $20.55M $12.98M
YoY Change 31.07% 17.55% -25.02%
Cost Of Revenue $12.21M $12.82M $9.468M
YoY Change 28.91% 26.43% -9.75%
Gross Profit $4.810M $7.737M $3.514M
YoY Change 36.88% 5.41% -48.51%
Gross Profit Margin 28.27% 37.65% 27.07%
Selling, General & Admin $5.261M $5.440M $5.971M
YoY Change -11.89% -10.67% -11.84%
% of Gross Profit 109.38% 70.31% 169.92%
Research & Development $4.273M $4.850M $6.358M
YoY Change -32.79% -30.22% -30.99%
% of Gross Profit 88.84% 62.69% 180.93%
Depreciation & Amortization $1.190M $1.240M $1.032M
YoY Change 15.31% 13.76% -16.84%
% of Gross Profit 24.74% 16.03% 29.37%
Operating Expenses $9.534M $10.29M $12.33M
YoY Change -22.67% -21.03% -22.88%
Operating Profit -$4.724M -$2.553M -$9.023M
YoY Change -47.64% -55.13% 29.73%
Interest Expense $70.00K $10.00K $70.00K
YoY Change 0.0% -98.31% -61.11%
% of Operating Profit
Other Income/Expense, Net $80.00K
YoY Change -78.49%
Pretax Income -$4.651M $1.190M -$8.943M
YoY Change -47.99% -104.99% 35.85%
Income Tax -$130.0K -$540.0K -$679.0K
% Of Pretax Income -45.38%
Net Earnings -$4.521M $1.725M -$8.264M
YoY Change -45.29% -104.04% 161.44%
Net Earnings / Revenue -26.57% 8.39% -63.66%
Basic Earnings Per Share -$0.19 -$0.35
Diluted Earnings Per Share -$0.19 $72.23K -$0.35
COMMON SHARES
Basic Shares Outstanding 23.92M shares 24.01M shares 23.77M shares
Diluted Shares Outstanding 23.86M shares 23.66M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.40M $69.10M $67.50M
YoY Change -0.15% 6.47% -14.45%
Cash & Equivalents $27.34M $20.12M $24.84M
Short-Term Investments $40.00M $49.00M $42.60M
Other Short-Term Assets $1.009M $982.0K $1.859M
YoY Change -45.72% -47.49% -81.77%
Inventory $20.74M $22.76M $25.94M
Prepaid Expenses
Receivables $15.30M $15.00M $10.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $104.8M $108.1M $105.9M
YoY Change -1.04% -4.3% -17.68%
LONG-TERM ASSETS
Property, Plant & Equipment $13.39M $12.95M $12.67M
YoY Change 5.66% -3.58% -9.49%
Goodwill
YoY Change
Intangibles $4.668M $4.902M $5.642M
YoY Change -17.26% -16.46%
Long-Term Investments $7.700M $12.30M $26.20M
YoY Change -70.61% -54.95% -20.12%
Other Assets $370.0K $425.0K $585.0K
YoY Change -36.75% -34.51% -97.95%
Total Long-Term Assets $35.80M $40.14M $58.09M
YoY Change -38.37% -32.55% -41.91%
TOTAL ASSETS
Total Short-Term Assets $104.8M $108.1M $105.9M
Total Long-Term Assets $35.80M $40.14M $58.09M
Total Assets $140.6M $148.3M $164.0M
YoY Change -14.27% -14.04% -28.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.082M $4.011M $3.308M
YoY Change 23.4% -10.45% -33.84%
Accrued Expenses $2.615M $3.263M $7.783M
YoY Change -66.4% -61.56% -54.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.21M $16.99M $18.38M
YoY Change -28.12% -17.67% -34.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.847M $1.715M $9.532M
YoY Change -80.62% -81.42% -4.68%
Total Long-Term Liabilities $1.847M $1.715M $9.532M
YoY Change -80.62% -81.42% -4.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.21M $16.99M $18.38M
Total Long-Term Liabilities $1.847M $1.715M $9.532M
Total Liabilities $15.06M $18.71M $27.91M
YoY Change -46.05% -37.37% -26.16%
SHAREHOLDERS EQUITY
Retained Earnings -$30.37M -$25.85M -$18.42M
YoY Change 64.9% 154.59%
Common Stock $157.9M $156.4M $153.7M
YoY Change 2.73% 2.87%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.738M $1.688M
YoY Change
Treasury Stock Shares 379.0K shares 241.0K shares
Shareholders Equity $125.5M $129.6M $136.0M
YoY Change
Total Liabilities & Shareholders Equity $140.6M $148.3M $164.0M
YoY Change -14.27% -14.04% -28.28%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2013 Q1
OPERATING ACTIVITIES
Net Income -$4.521M $1.725M -$8.264M
YoY Change -45.29% -104.04% 161.44%
Depreciation, Depletion And Amortization $1.190M $1.240M $1.032M
YoY Change 15.31% 13.76% -16.84%
Cash From Operating Activities -$4.450M -$620.0K $377.0K
YoY Change -1280.37% -88.19% -106.44%
INVESTING ACTIVITIES
Capital Expenditures -$1.400M -$840.0K -$300.0K
YoY Change 366.67% -28.21% -64.71%
Acquisitions
YoY Change
Other Investing Activities $13.23M $6.550M -$620.0K
YoY Change -2233.87% -52.54% -300.0%
Cash From Investing Activities $11.83M $5.710M -$920.0K
YoY Change -1385.87% -54.79% 71.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $140.0K $1.130M
YoY Change -87.61% 30.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -140.0K -1.600M 1.130M
YoY Change -112.39% 30.94%
NET CHANGE
Cash From Operating Activities -4.450M -620.0K 377.0K
Cash From Investing Activities 11.83M 5.710M -920.0K
Cash From Financing Activities -140.0K -1.600M 1.130M
Net Change In Cash 7.240M 3.490M 587.0K
YoY Change 1133.39% -52.71% -110.62%
FREE CASH FLOW
Cash From Operating Activities -$4.450M -$620.0K $377.0K
Capital Expenditures -$1.400M -$840.0K -$300.0K
Free Cash Flow -$3.050M $220.0K $677.0K
YoY Change -550.52% -105.39% -113.53%

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