$JANL
JANEL CORP

2014 Form 10-K Financial Statement

#000114420414076150 Filed on December 29, 2014

View on sec.gov

Income Statement

Concept 2014 2013 Q3 2013
Revenue $47.94M $12.84M $44.74M
YoY Change 7.14% -165.48% -10.22%
Cost Of Revenue $41.39M $11.22M $38.48M
YoY Change 7.56% -158.35% -56.66%
Gross Profit $6.550M $1.610M $6.260M
YoY Change 4.63% -523.68% -36.96%
Gross Profit Margin 13.66% 12.54% 13.99%
Selling, General & Admin $6.647M $1.550M $6.430M
YoY Change 3.37% -296.2% -36.4%
% of Gross Profit 101.47% 96.27% 102.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00K $10.00K $20.00K
YoY Change 50.0% -103.85% -94.87%
% of Gross Profit 0.46% 0.62% 0.32%
Operating Expenses $48.04M $1.560M $44.93M
YoY Change 6.91% -248.57% 327.93%
Operating Profit -$97.13K $50.00K -$188.4K
YoY Change -48.44% -92.54% -66.95%
Interest Expense -$144.2K -$30.00K -$121.0K
YoY Change 19.19% -200.0% -28.81%
% of Operating Profit -60.0%
Other Income/Expense, Net -$125.7K
YoY Change 31.73%
Pretax Income -$240.0K $30.00K -$314.1K
YoY Change -23.59% -95.65% 383.02%
Income Tax $20.00K $10.00K $20.00K
% Of Pretax Income 33.33%
Net Earnings -$335.2K -$1.450M -$2.158M
YoY Change -84.47% -20.33% -19.43%
Net Earnings / Revenue -0.7% -11.29% -4.82%
Basic Earnings Per Share -$0.01 -$0.10
Diluted Earnings Per Share -$0.01 -$3.372M -$0.09
COMMON SHARES
Basic Shares Outstanding 21.73M shares 21.58M shares
Diluted Shares Outstanding 23.21M shares

Balance Sheet

Concept 2014 2013 Q3 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $660.0K $630.0K $630.0K
YoY Change 4.76% -25.0% -25.0%
Cash & Equivalents $660.0K $625.6K $630.0K
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $220.0K $380.0K $380.0K
YoY Change -42.11% -89.42% 192.31%
Inventory
Prepaid Expenses
Receivables $8.560M $3.615M $3.620M
Other Receivables $0.00 $40.00K $40.00K
Total Short-Term Assets $9.450M $4.663M $4.660M
YoY Change 102.79% -48.21% -29.39%
LONG-TERM ASSETS
Property, Plant & Equipment $20.00K $21.92K $20.00K
YoY Change 0.0% -42.61% -96.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.00K $60.00K $60.00K
YoY Change 33.33% 0.0% -64.71%
Total Long-Term Assets $7.260M $60.72K $90.00K
YoY Change 7966.67% -36.24% -96.4%
TOTAL ASSETS
Total Short-Term Assets $9.450M $4.663M $4.660M
Total Long-Term Assets $7.260M $60.72K $90.00K
Total Assets $16.71M $4.746M $4.750M
YoY Change 251.79% -47.84% -47.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.040M $3.030M $3.030M
YoY Change 165.35% -22.7% -31.91%
Accrued Expenses $310.0K $311.4K $310.0K
YoY Change 0.0% 0.44% -53.73%
Deferred Revenue
YoY Change
Short-Term Debt $4.000M $1.430M $1.430M
YoY Change 179.72% -10.63% -10.63%
Long-Term Debt Due $470.0K
YoY Change
Total Short-Term Liabilities $12.82M $4.847M $4.850M
YoY Change 164.33% -31.03% -28.78%
LONG-TERM LIABILITIES
Long-Term Debt $870.0K $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $80.00K $80.00K $80.00K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $950.0K $78.57K $80.00K
YoY Change 1087.5% 0.0% -73.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.82M $4.847M $4.850M
Total Long-Term Liabilities $950.0K $78.57K $80.00K
Total Liabilities $13.77M $4.925M $4.930M
YoY Change 179.31% -30.69% -30.66%
SHAREHOLDERS EQUITY
Retained Earnings -$4.998M
YoY Change
Common Stock $20.02K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.950M -$179.3K -$180.0K
YoY Change
Total Liabilities & Shareholders Equity $16.71M $4.746M $4.750M
YoY Change 251.79% -47.84% -47.8%

Cashflow Statement

Concept 2014 2013 Q3 2013
OPERATING ACTIVITIES
Net Income -$335.2K -$1.450M -$2.158M
YoY Change -84.47% -20.33% -19.43%
Depreciation, Depletion And Amortization $30.00K $10.00K $20.00K
YoY Change 50.0% -103.85% -94.87%
Cash From Operating Activities -$1.400M $220.0K -$185.4K
YoY Change 654.97% -56.86% -52.68%
INVESTING ACTIVITIES
Capital Expenditures $9.152K $0.00 $2.917K
YoY Change 213.75% -100.0% -61.14%
Acquisitions
YoY Change
Other Investing Activities -$4.360M $470.0K $530.0K
YoY Change -922.64%
Cash From Investing Activities -$4.368M $470.0K $528.1K
YoY Change -927.16% 370.0% -6910.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $500.0K $0.00
YoY Change
Debt Paid & Issued, Net $0.00 $305.9K
YoY Change -100.0%
Cash From Financing Activities $5.807M -610.0K -$490.9K
YoY Change -1282.94% 6000.0% -170.26%
NET CHANGE
Cash From Operating Activities -$1.400M 220.0K -$185.4K
Cash From Investing Activities -$4.368M 470.0K $528.1K
Cash From Financing Activities $5.807M -610.0K -$490.9K
Net Change In Cash $39.04K 80.00K -$148.3K
YoY Change -126.33% -86.67% -149.57%
FREE CASH FLOW
Cash From Operating Activities -$1.400M $220.0K -$185.4K
Capital Expenditures $9.152K $0.00 $2.917K
Free Cash Flow -$1.409M $220.0K -$188.4K
YoY Change 648.14% -46.34% -52.83%

Facts In Submission

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CY2014 us-gaap Use Of Estimates
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CY2014 dei Amendment Flag
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CY2014 dei Document Period End Date
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CY2014 dei Document Fiscal Year Focus
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CY2014 dei Document Fiscal Period Focus
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CY2014 dei Entity Registrant Name
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JANEL WORLD TRADE LTD
CY2014 dei Entity Central Index Key
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0001133062
CY2014 dei Current Fiscal Year End Date
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--09-30
CY2014 dei Entity Well Known Seasoned Issuer
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CY2014 dei Entity Voluntary Filers
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CY2014 dei Entity Filer Category
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2914000 USD
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0 USD
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0 USD
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8075000 USD
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500000 USD
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0 USD
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P15Y
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383000 USD
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189000 USD
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57000 USD
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388000 USD
CY2014 us-gaap Operating Leases Rent Expense Net
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360000 USD
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7184069 USD
CY2014 us-gaap Amortization Of Intangible Assets
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12444 USD
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53909658 USD
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CY2013 us-gaap Business Acquisitions Pro Forma Net Income Loss
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CY2014 us-gaap Business Acquisitions Pro Forma Net Income Loss
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205016 USD
CY2013 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
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-0.08
CY2013 us-gaap Share Based Compensation
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0 USD
CY2014 us-gaap Share Based Compensation
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239850 USD
CY2013 us-gaap Increase Decrease In Deposits
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-3675 USD
CY2014 us-gaap Increase Decrease In Deposits
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3154 USD
CY2013 us-gaap Payments To Acquire Additional Interest In Subsidiaries
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0 USD
CY2014 us-gaap Payments To Acquire Additional Interest In Subsidiaries
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4358773 USD
CY2013 us-gaap Proceeds From Divestiture Of Businesses
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469067 USD
CY2014 us-gaap Proceeds From Divestiture Of Businesses
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0 USD
CY2013Q3 jlwt Non Interest Bearing Notes Payable Related Parties Net Of Imputed Interest
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0 USD
CY2014Q3 jlwt Non Interest Bearing Notes Payable Related Parties Net Of Imputed Interest
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1332472 USD
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0 USD
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467068 USD
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0 USD
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1332472 USD
CY2013 us-gaap Repayments Of Long Term Debt
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305900 USD
CY2014 us-gaap Repayments Of Long Term Debt
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0 USD
CY2013 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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0 USD
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2750000 USD
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0 USD
CY2014Q3 us-gaap Long Term Loans From Bank
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865404 USD
CY2013 us-gaap Defined Contribution Plan Administrative Expenses
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19000 USD
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14000 USD
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467068 USD
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0.25 pure
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443770 USD
CY2014Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
421634 USD
CY2014 jlwt Defined Contribution Plan Employer Contribution Percent Description
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The Company contributes an amount equal to 25% of the participant&#8217;s first 5% of contributions
CY2014Q3 us-gaap Long Term Debt
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1332472 USD
CY2014 us-gaap Stock Repurchased During Period Value
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114703 USD
CY2013 us-gaap Notes Issued1
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42000 USD
CY2014 us-gaap Notes Issued1
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0 USD
CY2013 jlwt Change In Fair Value Of Contingent Consideration
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0 USD
CY2014 jlwt Change In Fair Value Of Contingent Consideration
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0 USD
CY2013 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
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CY2014Q3 us-gaap Common Stock Shares Authorized
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225000000 shares
CY2014Q3 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2006Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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300000 shares
CY2014 us-gaap Stock Repurchased During Period Shares
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259676 shares
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense
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10000 USD
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10000 USD
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23000 USD
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30000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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100000 USD
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196000 USD
CY2013Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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2718000 USD
CY2014Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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2914000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2014Q3 us-gaap Common Stock Shares Issued
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27710214 shares
CY2013Q3 us-gaap Common Stock Shares Outstanding
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20017906 shares
CY2014Q3 us-gaap Common Stock Shares Outstanding
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27710214 shares
CY2013 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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0 USD
CY2014 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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7184069 USD
CY2013 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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0 USD
CY2014 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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1332472 USD
CY2013 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
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0 USD
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-1492824 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
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19150 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
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2987487 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
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654 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
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1446 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
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4501561 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
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4480000 USD
CY2014Q3 us-gaap Goodwill
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2704069 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
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5691245 USD
CY2014Q3 jlwt Commitment For Future Salaries
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882000 USD
CY2014Q3 jlwt Imputed Interes Trelated Party Debt Current
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32932 USD
CY2014Q3 jlwt Imputed Interest Related Party Debt Noncurrent
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134596 USD
CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2013Q3 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2014Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2013Q3 us-gaap Common Stock Shares Authorized
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225000000 shares
CY2013Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
20017906 shares

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