$IVAC
INTEVAC INC

2015 Q4 Form 10-Q Financial Statement

#000119312516757026 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2015 Q4
Revenue $18.42M
YoY Change
Cost Of Revenue $13.51M
YoY Change
Gross Profit $4.912M
YoY Change
Gross Profit Margin 26.67%
Selling, General & Admin $4.736M
YoY Change
% of Gross Profit 96.42%
Research & Development $3.956M
YoY Change
% of Gross Profit 80.54%
Depreciation & Amortization $1.130M
YoY Change
% of Gross Profit 23.0%
Operating Expenses $8.692M
YoY Change
Operating Profit -$3.780M
YoY Change
Interest Expense $23.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.757M
YoY Change
Income Tax $2.000K
% Of Pretax Income
Net Earnings -$3.759M
YoY Change
Net Earnings / Revenue -20.41%
Basic Earnings Per Share
Diluted Earnings Per Share -$170.9K
COMMON SHARES
Basic Shares Outstanding 22.00M shares
Diluted Shares Outstanding 22.00M shares

Balance Sheet

Concept 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $47.10M
YoY Change
Cash & Equivalents $18.03M
Short-Term Investments $29.60M
Other Short-Term Assets $1.051M
YoY Change
Inventory $15.66M
Prepaid Expenses
Receivables $13.60M
Other Receivables $0.00
Total Short-Term Assets $78.00M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $11.93M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $7.300M
YoY Change
Other Assets $1.436M
YoY Change
Total Long-Term Assets $25.88M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $78.00M
Total Long-Term Assets $25.88M
Total Assets $103.9M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.233M
YoY Change
Accrued Expenses $3.806M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.06M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $2.509M
YoY Change
Total Long-Term Liabilities $2.509M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $16.06M
Total Long-Term Liabilities $2.509M
Total Liabilities $18.57M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$59.93M
YoY Change
Common Stock $165.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.94M
YoY Change
Treasury Stock Shares 3.329M shares
Shareholders Equity $85.31M
YoY Change
Total Liabilities & Shareholders Equity $103.9M
YoY Change

Cashflow Statement

Concept 2015 Q4
OPERATING ACTIVITIES
Net Income -$3.759M
YoY Change
Depreciation, Depletion And Amortization $1.130M
YoY Change
Cash From Operating Activities -$590.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$670.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.420M
YoY Change
Cash From Investing Activities $3.750M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.230M
YoY Change
NET CHANGE
Cash From Operating Activities -590.0K
Cash From Investing Activities 3.750M
Cash From Financing Activities -1.230M
Net Change In Cash 1.930M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$590.0K
Capital Expenditures -$670.0K
Free Cash Flow $80.00K
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Document Type
DocumentType
10-Q
dei Trading Symbol
TradingSymbol
IVAC
dei Entity Central Index Key
EntityCentralIndexKey
0001001902
dei Document Period End Date
DocumentPeriodEndDate
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<div> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><b>2.</b></td> <td align="left" valign="top"><b>Recent Accounting Pronouncements</b></td> </tr> </table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In February 2016, the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued Accounting Standards Update (&#x201C;ASU&#x201D;) 2016-02, <i>Leases (Topic 842)</i>, which amends the existing guidance to require lessees to recognize lease assets and lease liabilities arising from operating leases in a classified balance sheet. The requirements of this ASU are effective for interim and annual reporting periods beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact that ASU 2016-02 will have on our consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In March 2016, the FASB issued ASU 2016-09, <i>Compensation&#x2014;Stock Compensation (Topic 718)</i>. This ASU makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. The requirements of this ASU are effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. We are currently assessing how the adoption of this standard will impact our consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The FASB has issued several more amendments to the new revenue standard ASU 2014-09, as amended by ASU 2015-14:</p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"> March 2016 - ASU 2016-08, <i>Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)</i>. ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to customers.</p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"> April 2016 - ASU 2016-10, <i>Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing</i>. ASU 2016-10 covers two specific topics: performance obligations and licensing. This ASU includes guidance on immaterial promised goods or services, shipping or handling activities, separately identifiable performance obligations, functional or symbolic intellectual property licenses, sales-based and usage-based royalties, license restrictions (time, use, geographical) and licensing renewals.</p> <p style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"> May 2016 - ASU 2016-12, <i>Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients</i>. ASU 2016-12 clarifies certain core recognition principles including collectability, sales tax presentation, noncash consideration, contract modifications and completed contracts at transition and disclosures no longer required if the full retrospective transition method is adopted.</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> We are currently assessing how the adoption of these new standards will impact our consolidated financial statements.</p> <p style="font-size:1px;margin-top:12px;margin-bottom:0px"> &#xA0;</p> <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In June 2016, the FASB issued ASU 2016-13, <i>Financial Instruments&#x2014;Credit Losses (Topic 326).</i> This ASU amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the more timely recognition of losses. The requirements of this ASU are effective for interim and annual reporting periods beginning after December 15, 2019. We are currently assessing how the adoption of this standard will impact our consolidated financial statements.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> In August 2016, the FASB issued ASU 2016-15, <i>Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments</i>. This ASU provides guidance related to the classification of certain transactions on the statement of cash flows.&#xA0;The requirements of this ASU are effective for reporting periods beginning after December 15, 2017, with early adoption permitted. Intevac does not expect the adoption of this update to have a material impact on its consolidated financial statements.</p> </div>
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