2018 Q3 Form 10-Q Financial Statement

#000116219418000089 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $28.96M $26.43M $23.91M
YoY Change 17.04% 10.52% -15.11%
Cost Of Revenue $13.14M $12.84M $1.169M
YoY Change 1042.7% 998.37% -6.33%
Gross Profit $15.82M $13.59M $22.74M
YoY Change -32.95% -40.25% -15.52%
Gross Profit Margin 54.63% 51.42% 95.11%
Selling, General & Admin $20.02M $18.99M $20.98M
YoY Change -0.41% -9.48% -12.04%
% of Gross Profit 126.53% 139.73% 92.23%
Research & Development $7.430M $7.386M $7.461M
YoY Change -3.29% -1.01% -25.23%
% of Gross Profit 46.96% 54.36% 32.81%
Depreciation & Amortization $900.0K $6.840M $4.940M
YoY Change -79.02% 38.46% 10.27%
% of Gross Profit 5.69% 50.34% 21.72%
Operating Expenses $27.45M $26.37M $28.44M
YoY Change -1.21% -7.25% -15.93%
Operating Profit -$11.63M -$12.79M -$16.49M
YoY Change -25.47% -22.45% -9.12%
Interest Expense $4.019M $3.916M $1.456M
YoY Change 176.03% 168.96% 0.21%
% of Operating Profit
Other Income/Expense, Net $117.0K $256.0K $183.0K
YoY Change -69.13% 39.89% -515.91%
Pretax Income -$15.53M -$16.45M -$17.76M
YoY Change -6.89% -7.4% -9.57%
Income Tax -$800.0K -$200.0K -$800.0K
% Of Pretax Income
Net Earnings -$14.75M -$16.24M -$16.93M
YoY Change -7.49% -4.09% -9.05%
Net Earnings / Revenue -50.93% -61.45% -70.81%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.38 -$0.42 -$0.58
COMMON SHARES
Basic Shares Outstanding 39.16M shares 38.92M shares 29.30M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.80M $40.40M $42.00M
YoY Change -42.63% -3.81% -51.39%
Cash & Equivalents $35.83M $39.42M $39.60M
Short-Term Investments $0.00 $1.000M $2.400M
Other Short-Term Assets $2.200M $2.700M $4.700M
YoY Change -4.35% -42.55% 30.56%
Inventory $15.42M $15.25M $18.77M
Prepaid Expenses
Receivables $18.38M $16.87M $13.66M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $71.86M $75.25M $79.13M
YoY Change -25.28% -4.9% -37.72%
LONG-TERM ASSETS
Property, Plant & Equipment $9.760M $10.42M $13.97M
YoY Change -26.81% -25.36% -16.95%
Goodwill $104.1M $104.1M $104.1M
YoY Change 0.0% 0.0% 0.0%
Intangibles $60.20M $63.00M $74.20M
YoY Change -15.69% -15.09% -13.16%
Long-Term Investments
YoY Change
Other Assets $6.362M $6.324M $7.310M
YoY Change -8.95% -13.49% -15.21%
Total Long-Term Assets $180.4M $183.9M $199.6M
YoY Change -7.86% -7.88% -7.17%
TOTAL ASSETS
Total Short-Term Assets $71.86M $75.25M $79.13M
Total Long-Term Assets $180.4M $183.9M $199.6M
Total Assets $252.3M $259.1M $278.7M
YoY Change -13.6% -7.03% -18.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.246M $6.642M $3.858M
YoY Change 32.3% 72.16% -33.83%
Accrued Expenses $6.582M $7.372M $13.50M
YoY Change -21.0% -45.38% -4.42%
Deferred Revenue $11.51M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.87M $36.65M $34.32M
YoY Change 21.89% 6.78% 6.22%
LONG-TERM LIABILITIES
Long-Term Debt $169.3M $166.8M $195.1M
YoY Change -13.27% -14.51% 0.15%
Other Long-Term Liabilities $2.173M $2.004M $4.613M
YoY Change -59.54% -56.56% 21.55%
Total Long-Term Liabilities $2.173M $2.004M $4.613M
YoY Change -59.54% -56.56% 21.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.87M $36.65M $34.32M
Total Long-Term Liabilities $2.173M $2.004M $4.613M
Total Liabilities $229.9M $224.3M $254.8M
YoY Change -9.11% -11.97% -1.16%
SHAREHOLDERS EQUITY
Retained Earnings -$544.1M -$529.3M -$473.8M
YoY Change 11.1% 11.72% 17.86%
Common Stock $39.00K $39.00K $29.00K
YoY Change 0.0% 34.48% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.41M $34.83M $23.94M
YoY Change
Total Liabilities & Shareholders Equity $252.3M $259.1M $278.7M
YoY Change -13.6% -7.03% -18.51%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$14.75M -$16.24M -$16.93M
YoY Change -7.49% -4.09% -9.05%
Depreciation, Depletion And Amortization $900.0K $6.840M $4.940M
YoY Change -79.02% 38.46% 10.27%
Cash From Operating Activities -$4.060M -$4.320M -$8.290M
YoY Change -49.12% -47.89% 12.64%
INVESTING ACTIVITIES
Capital Expenditures $200.0K $70.00K $140.0K
YoY Change -64.29% -50.0% -90.79%
Acquisitions
YoY Change
Other Investing Activities $1.000M $4.280M $3.730M
YoY Change -0.99% 14.75% 106.08%
Cash From Investing Activities $800.0K $4.200M $3.590M
YoY Change 77.78% 16.99% 1096.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -140.0K -2.090M -50.00K
YoY Change -100.48% 4080.0% -141.67%
NET CHANGE
Cash From Operating Activities -4.060M -4.320M -8.290M
Cash From Investing Activities 800.0K 4.200M 3.590M
Cash From Financing Activities -140.0K -2.090M -50.00K
Net Change In Cash -3.400M -2.210M -4.750M
YoY Change -115.93% -53.47% -31.56%
FREE CASH FLOW
Cash From Operating Activities -$4.060M -$4.320M -$8.290M
Capital Expenditures $200.0K $70.00K $140.0K
Free Cash Flow -$4.260M -$4.390M -$8.430M
YoY Change -50.12% -47.92% -5.07%

Facts In Submission

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2445000 USD
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us-gaap Prior Period Reclassification Adjustment Description
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CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Operating Income Loss
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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2800000 USD
us-gaap Contract With Customer Liability Revenue Recognized
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6300000 USD
fldm Contract With Customer Liability Increase From Cash Receipts
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6600000 USD
CY2018Q2 us-gaap Contract With Customer Liability
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2231000 USD
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2231000 USD
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1000 USD
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0 USD
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0 USD
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1000 USD
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63136000 USD
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58056000 USD
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5080000 USD
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1000000.0 USD
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123274000 USD
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55321000 USD
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123274000 USD
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49121000 USD
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74153000 USD
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8934000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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12242000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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12241000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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12087000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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12004000 USD
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10445000 USD
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1001000 USD
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PropertyPlantandEquipmentGrossLessConstructioninProgress
33882000 USD
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23505000 USD
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21646000 USD
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47000 USD
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8000 USD
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10424000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
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12301000 USD
CY2018Q1 us-gaap Product Warranty Accrual
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591000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
864000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
699000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1023000 USD
CY2018Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
401000 USD
CY2017Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
19000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
738000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
187000 USD
CY2018Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-383000 USD
CY2017Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-828000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
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CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
609000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
706000 USD
CY2018Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
609000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
706000 USD
CY2018Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000.0 USD
CY2017Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000.0 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2600000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2200000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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1724000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Remainder Of Fiscal Year
SubleaseIncomeFutureMinimumPaymentsRemainderOfFiscalYear
0 USD
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OperatingLeasesFutureMinimumPaymentsDueNetOfSubleaseIncomeRemainderOfFiscalYear
1724000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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3369000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Receivable In Two Years
SubleaseIncomeFutureMinimumPaymentsReceivableInTwoYears
0 USD
CY2018Q2 fldm Operating Leases Future Minimum Payments Due Netof Sublease Income Duein Two Years
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3369000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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1917000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Receivable In Three Years
SubleaseIncomeFutureMinimumPaymentsReceivableInThreeYears
0 USD
CY2018Q2 fldm Operating Leases Future Minimum Payments Due Netof Sublease Income Duein Three Years
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1917000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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1237000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Receivable In Four Years
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0 USD
CY2018Q2 fldm Operating Leases Future Minimum Payments Due Netof Sublease Income Duein Four Years
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1237000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
843000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Receivable In Five Years
SubleaseIncomeFutureMinimumPaymentsReceivableInFiveYears
0 USD
CY2018Q2 fldm Operating Leases Future Minimum Payments Due Netof Sublease Income Duein Five Years
OperatingLeasesFutureMinimumPaymentsDueNetofSubleaseIncomeDueinFiveYears
843000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1854000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Receivable Thereafter
SubleaseIncomeFutureMinimumPaymentsReceivableThereafter
0 USD
CY2018Q2 fldm Operating Leases Future Minimum Payments Due Netof Sublease Income Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueNetofSubleaseIncomeDueThereafter
1854000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
10944000 USD
CY2018Q2 fldm Sublease Income Future Minimum Payments Receivable
SubleaseIncomeFutureMinimumPaymentsReceivable
0 USD
CY2018Q2 fldm Operating Leases Future Minimum Payments Due Netof Sublease Income Due
OperatingLeasesFutureMinimumPaymentsDueNetofSubleaseIncomeDue
10944000 USD
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2000000.0 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3800000 USD
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2300000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4800000 USD
CY2017Q3 us-gaap Share Price
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5.13
CY2017Q3 fldm Sharebased Compensation Arrangementby Sharebased Payment Award Option Exchange Program Numberof Participating Employees
SharebasedCompensationArrangementbySharebasedPaymentAwardOptionExchangeProgramNumberofParticipatingEmployees
115 employee
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
5.13
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-800000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2600000 USD
us-gaap Number Of Reportable Segments
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1 segment
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26428000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
23912000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51676000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
49445000 USD
CY2017Q3 fldm Equity Offering Program Authorized Amount
EquityOfferingProgramAuthorizedAmount
30000000 USD

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