2023 Q2 Form 10-Q Financial Statement
#000106299323010717 Filed on May 11, 2023
Income Statement
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| Revenue | $12.35M | $13.08M | $24.23M |
| YoY Change | -31.15% | -46.02% | 87.87% |
| Cost Of Revenue | $7.007M | $7.307M | $14.60M |
| YoY Change | -31.93% | -49.96% | 113.32% |
| Gross Profit | $5.343M | $5.773M | $9.627M |
| YoY Change | -30.11% | -40.04% | 59.07% |
| Gross Profit Margin | 43.26% | 44.14% | 39.74% |
| Selling, General & Admin | $3.114M | $3.534M | $3.271M |
| YoY Change | -2.43% | 8.05% | 21.93% |
| % of Gross Profit | 58.29% | 61.22% | 33.97% |
| Research & Development | $633.0K | $585.0K | $533.7K |
| YoY Change | 31.64% | 9.61% | 31.74% |
| % of Gross Profit | 11.85% | 10.13% | 5.54% |
| Depreciation & Amortization | $292.4K | $279.8K | $276.9K |
| YoY Change | 1.53% | 1.04% | 17.07% |
| % of Gross Profit | 5.47% | 4.85% | 2.88% |
| Operating Expenses | $4.039M | $4.399M | $4.002M |
| YoY Change | 1.99% | 9.9% | 21.32% |
| Operating Profit | $1.314M | $1.387M | $5.625M |
| YoY Change | -64.79% | -75.34% | 104.33% |
| Interest Expense | -$16.87K | -$20.92K | $6.160K |
| YoY Change | 102.04% | -439.61% | -253.62% |
| % of Operating Profit | -1.28% | -1.51% | 0.11% |
| Other Income/Expense, Net | -$16.87K | -$20.92K | $6.157K |
| YoY Change | 102.11% | -439.84% | |
| Pretax Income | $1.297M | $1.366M | $5.631M |
| YoY Change | -65.16% | -75.74% | 104.85% |
| Income Tax | $520.5K | $343.0K | $1.408M |
| % Of Pretax Income | 40.14% | 25.11% | 25.01% |
| Net Earnings | $776.1K | $1.023M | $4.223M |
| YoY Change | -71.54% | -75.77% | 104.9% |
| Net Earnings / Revenue | 6.28% | 7.82% | 17.43% |
| Basic Earnings Per Share | $0.13 | $0.17 | $0.73 |
| Diluted Earnings Per Share | $0.12 | $0.16 | $676.0K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 5.971M shares | 5.971M shares | 5.752M shares |
| Diluted Shares Outstanding | 6.269M shares | 6.280M shares | 6.246M shares |
Balance Sheet
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $12.00M | $11.37M | $4.304M |
| YoY Change | 139.57% | 164.24% | 11.96% |
| Cash & Equivalents | $12.00M | $11.37M | $4.246M |
| Short-Term Investments | $58.26K | ||
| Other Short-Term Assets | $3.347M | $4.551M | $5.442M |
| YoY Change | -30.27% | -16.39% | 14.09% |
| Inventory | $19.16M | $19.83M | $19.92M |
| Prepaid Expenses | |||
| Receivables | $10.35M | $9.529M | $17.74M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $44.85M | $45.28M | $47.41M |
| YoY Change | -1.39% | -4.49% | 108.8% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $3.228M | $3.151M | $4.436M |
| YoY Change | 9.1% | -28.97% | 43.81% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $39.87K | $40.30K | $49.75K |
| YoY Change | -3.53% | -18.99% | -55.69% |
| Total Long-Term Assets | $4.214M | $4.210M | $4.486M |
| YoY Change | -0.62% | -6.15% | 40.31% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $44.85M | $45.28M | $47.41M |
| Total Long-Term Assets | $4.214M | $4.210M | $4.486M |
| Total Assets | $49.07M | $49.49M | $51.89M |
| YoY Change | -1.32% | -4.63% | 100.35% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $5.153M | $3.602M | $11.41M |
| YoY Change | -35.33% | -68.43% | 99.92% |
| Accrued Expenses | $266.1K | $273.0K | $279.2K |
| YoY Change | -11.8% | -2.21% | 31.14% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $292.0K | $645.8K | $661.1K |
| YoY Change | 28.52% | -2.32% | 50.3% |
| Long-Term Debt Due | $110.5K | $109.4K | $88.17K |
| YoY Change | 24.2% | 24.12% | |
| Total Short-Term Liabilities | $7.177M | $8.118M | $16.58M |
| YoY Change | -40.33% | -51.05% | 103.46% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $87.74K | $115.7K | $170.0K |
| YoY Change | -40.48% | -31.92% | |
| Other Long-Term Liabilities | $679.8K | $745.6K | $1.349M |
| YoY Change | -47.63% | -44.72% | 361.41% |
| Total Long-Term Liabilities | $767.6K | $861.4K | $1.519M |
| YoY Change | -46.9% | -43.29% | 419.55% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $7.177M | $8.118M | $16.58M |
| Total Long-Term Liabilities | $767.6K | $861.4K | $1.519M |
| Total Liabilities | $8.011M | $9.045M | $18.33M |
| YoY Change | -41.53% | -50.66% | 117.11% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $31.80M | $31.02M | |
| YoY Change | 17.82% | ||
| Common Stock | $130.3K | $130.3K | $130.3K |
| YoY Change | 0.02% | 0.02% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $41.06M | $40.44M | $33.56M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $49.07M | $49.49M | $51.89M |
| YoY Change | -1.32% | -4.63% | 100.35% |
Cashflow Statement
| Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $776.1K | $1.023M | $4.223M |
| YoY Change | -71.54% | -75.77% | 104.9% |
| Depreciation, Depletion And Amortization | $292.4K | $279.8K | $276.9K |
| YoY Change | 1.53% | 1.04% | 17.07% |
| Cash From Operating Activities | $1.538M | $5.280M | -$686.7K |
| YoY Change | -6.21% | -868.84% | -161.91% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$102.7K | $368.5K | -$260.9K |
| YoY Change | -41.2% | -241.24% | 661.34% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $0.00 | $35.85K |
| YoY Change | -100.0% | -100.0% | |
| Cash From Investing Activities | $102.7K | -$368.5K | -$225.1K |
| YoY Change | -161.23% | 63.73% | 556.76% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $255.8K | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -380.7K | -$409.7K | -72.55K |
| YoY Change | -16.44% | 464.65% | -69.49% |
| NET CHANGE | |||
| Cash From Operating Activities | 1.538M | $5.280M | -686.7K |
| Cash From Investing Activities | 102.7K | -$368.5K | -225.1K |
| Cash From Financing Activities | -380.7K | -$409.7K | -72.55K |
| Net Change In Cash | 1.260M | $4.270M | -984.3K |
| YoY Change | 23.95% | -533.78% | -217.59% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $1.538M | $5.280M | -$686.7K |
| Capital Expenditures | -$102.7K | $368.5K | -$260.9K |
| Free Cash Flow | $1.641M | $4.911M | -$425.8K |
| YoY Change | -9.57% | -1253.39% | -137.24% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
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| CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
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| CY2023Q1 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
0 | usd |
| CY2022Q1 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
0 | usd |
| CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
|
281664 | usd |
| CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
|
290098 | usd |
| CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
|
298792 | usd |
| CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
|
25455 | usd |
