2019 Q1 Form 10-Q Financial Statement

#000112479619000058 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $41.86M $42.47M
YoY Change -1.43% 42.09%
Cost Of Revenue $28.35M $27.74M
YoY Change 2.2% 32.59%
Gross Profit $13.51M $14.73M
YoY Change -8.25% 64.26%
Gross Profit Margin 32.28% 34.68%
Selling, General & Admin $8.144M $6.238M
YoY Change 30.55% 34.76%
% of Gross Profit 60.26% 42.35%
Research & Development $6.422M $4.283M
YoY Change 49.94% 14.95%
% of Gross Profit 47.52% 29.08%
Depreciation & Amortization $1.565M $1.946M
YoY Change -19.58% -0.21%
% of Gross Profit 11.58% 13.21%
Operating Expenses $14.57M $10.52M
YoY Change 38.45% 25.92%
Operating Profit -$1.052M $4.208M
YoY Change -125.0% 587.58%
Interest Expense $750.0K -$219.0K
YoY Change -442.47% -56.37%
% of Operating Profit -5.2%
Other Income/Expense, Net $820.0K $76.00K
YoY Change 978.95% -145.51%
Pretax Income $518.0K $4.065M
YoY Change -87.26% -7231.58%
Income Tax $1.753M $1.149M
% Of Pretax Income 338.42% 28.27%
Net Earnings -$1.235M $2.916M
YoY Change -142.35% -340.4%
Net Earnings / Revenue -2.95% 6.87%
Basic Earnings Per Share -$0.03 $0.00
Diluted Earnings Per Share -$0.03 $0.00
COMMON SHARES
Basic Shares Outstanding 36.69M shares 3.031M shares
Diluted Shares Outstanding 36.69M shares 3.031M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $142.4M $28.60M
YoY Change 397.9%
Cash & Equivalents $142.4M $28.62M
Short-Term Investments
Other Short-Term Assets $59.00K $6.100M
YoY Change -99.03%
Inventory $40.85M $35.35M
Prepaid Expenses
Receivables $30.16M $18.17M
Other Receivables $800.0K $0.00
Total Short-Term Assets $219.2M $88.29M
YoY Change 148.26%
LONG-TERM ASSETS
Property, Plant & Equipment $22.14M $19.81M
YoY Change 11.73%
Goodwill $1.387M $1.387M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.029M $4.346M
YoY Change 38.73%
Total Long-Term Assets $32.34M $27.91M
YoY Change 15.88%
TOTAL ASSETS
Total Short-Term Assets $219.2M $88.29M
Total Long-Term Assets $32.34M $27.91M
Total Assets $251.5M $116.2M
YoY Change 116.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.99M $15.58M
YoY Change -10.24%
Accrued Expenses $9.831M $11.87M
YoY Change -17.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $102.0K $3.491M
YoY Change -97.08%
Total Short-Term Liabilities $24.07M $32.24M
YoY Change -25.34%
LONG-TERM LIABILITIES
Long-Term Debt $19.00K $13.96M
YoY Change -99.86%
Other Long-Term Liabilities $1.964M $1.232M
YoY Change 59.42%
Total Long-Term Liabilities $1.983M $15.19M
YoY Change -86.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.07M $32.24M
Total Long-Term Liabilities $1.983M $15.19M
Total Liabilities $32.87M $51.61M
YoY Change -36.32%
SHAREHOLDERS EQUITY
Retained Earnings -$105.8M -$115.8M
YoY Change -8.59%
Common Stock $15.00K $2.000K
YoY Change 650.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $218.7M $64.59M
YoY Change
Total Liabilities & Shareholders Equity $251.5M $116.2M
YoY Change 116.47%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$1.235M $2.916M
YoY Change -142.35% -340.4%
Depreciation, Depletion And Amortization $1.565M $1.946M
YoY Change -19.58% -0.21%
Cash From Operating Activities -$4.939M -$4.170M
YoY Change 18.44% 11.32%
INVESTING ACTIVITIES
Capital Expenditures $2.284M -$3.390M
YoY Change -167.37% 370.83%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.734M -$3.390M
YoY Change -19.35% 378.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $442.0K -$489.0K
YoY Change -190.39% 79.78%
NET CHANGE
Cash From Operating Activities -$4.939M -$4.170M
Cash From Investing Activities -$2.734M -$3.390M
Cash From Financing Activities $442.0K -$489.0K
Net Change In Cash -$7.112M -$8.065M
YoY Change -11.82% 70.62%
FREE CASH FLOW
Cash From Operating Activities -$4.939M -$4.170M
Capital Expenditures $2.284M -$3.390M
Free Cash Flow -$7.223M -$780.0K
YoY Change 826.03% -74.22%

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CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1964000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
76000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
820000 USD
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1654000 USD
CY2019Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
2281000 USD
CY2018Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
521000 USD
CY2019Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
3390000 USD
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2734000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7286000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5822000 USD
CY2018Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2777000 USD
CY2019Q1 us-gaap Prepaid Taxes
PrepaidTaxes
2491000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
61000 USD
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
467000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21462000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22135000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
40000 USD
CY2019Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
28000 USD
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2669000 USD
CY2019Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2168000 USD
CY2018Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
29000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
678000 USD
CY2019Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
25000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4283000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6422000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-104731000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-105805000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
42467000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
41861000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6238000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8144000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
162000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1909000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3102000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.00
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3600000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
14000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
83700000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
102681000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5171000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4956000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.60
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.56
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
102681000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4956000 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.56
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.33
CY2019Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.87
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
65998000 USD
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y2M27D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M12D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M22D
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y9M22D
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4186000 USD
CY2018Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4390000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4555000 USD
CY2019Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3724000 USD
CY2018Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
3495000 USD
CY2019Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
2168000 USD
CY2018Q1 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
895000 USD
CY2019Q1 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
1556000 USD
CY2018Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
526000 USD
CY2019Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
433000 USD
CY2018Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
730000 USD
CY2019Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-398000 USD
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
201000 shares
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
61000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
466000 USD
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3031000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3031000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36694000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
61283000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
64585000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
217783000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
218663000 USD
CY2018Q4 us-gaap Supplies
Supplies
1263000 USD
CY2019Q1 us-gaap Supplies
Supplies
196000 USD
CY2018Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2916000 USD
CY2019Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2018Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
1489000 USD
CY2019Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
795000 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36694000 shares

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