2019 Q1 Form 10-Q Financial Statement

#000162828019002599 Filed on March 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q2 2018 Q1
Revenue $27.00M $29.36M $30.12M
YoY Change -10.34% 11.79% 13.9%
Cost Of Revenue $12.96M $12.94M $13.07M
YoY Change -0.82% 8.47% 5.48%
Gross Profit $14.04M $16.43M $17.05M
YoY Change -17.64% 14.55% 21.33%
Gross Profit Margin 51.99% 55.94% 56.6%
Selling, General & Admin $9.001M $10.18M $9.648M
YoY Change -6.71% 19.76% 18.6%
% of Gross Profit 64.11% 61.97% 56.6%
Research & Development $2.811M $3.630M $3.099M
YoY Change -9.29% 42.35% 0.81%
% of Gross Profit 20.02% 22.1% 18.18%
Depreciation & Amortization $1.960M $1.720M $1.599M
YoY Change 22.58% 8.18% -20.05%
% of Gross Profit 13.96% 10.47% 9.38%
Operating Expenses $11.91M $13.90M $12.84M
YoY Change -7.27% 22.14% 10.76%
Operating Profit $2.130M $2.463M $4.204M
YoY Change -49.33% -16.71% 71.24%
Interest Expense $520.0K $1.760M $400.0K
YoY Change 30.0% 4.76% 37.93%
% of Operating Profit 24.41% 71.46% 9.51%
Other Income/Expense, Net $4.000K -$16.22M $1.171M
YoY Change -99.66% 1310.43% 58.67%
Pretax Income $2.657M $1.800M $5.778M
YoY Change -54.02% -88.23% 66.03%
Income Tax $356.0K $640.0K $198.0K
% Of Pretax Income 13.4% 35.56% 3.43%
Net Earnings $2.301M $1.268M $5.580M
YoY Change -58.76% -87.66% 148.77%
Net Earnings / Revenue 8.52% 4.32% 18.53%
Basic Earnings Per Share $0.07 $0.18
Diluted Earnings Per Share $0.07 $0.04 $0.18
COMMON SHARES
Basic Shares Outstanding 31.01M shares 30.24M shares
Diluted Shares Outstanding 31.18M shares 30.70M shares

Balance Sheet

Concept 2019 Q1 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.20M $78.90M $78.00M
YoY Change 6.67% -7.5% 1.83%
Cash & Equivalents $55.06M $52.79M $54.91M
Short-Term Investments $28.10M $26.10M $23.10M
Other Short-Term Assets $6.200M $6.600M $5.500M
YoY Change 12.73% 53.49% 25.0%
Inventory
Prepaid Expenses
Receivables $20.30M $18.64M $20.46M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $112.6M $108.1M $106.6M
YoY Change 5.62% -1.31% 8.44%
LONG-TERM ASSETS
Property, Plant & Equipment $3.562M $3.034M $2.151M
YoY Change 65.6% 47.64% -35.23%
Goodwill $25.89M $25.89M $25.47M
YoY Change 1.65% 32.43% 30.28%
Intangibles $3.328M $5.120M $6.171M
YoY Change -46.07% 50.63% 58.52%
Long-Term Investments $1.000M $8.900M $10.50M
YoY Change -90.48% 97.78% 288.89%
Other Assets $3.910M $4.102M $3.483M
YoY Change 12.26% 248.81% 321.67%
Total Long-Term Assets $48.18M $56.77M $57.28M
YoY Change -15.88% 44.63% 48.28%
TOTAL ASSETS
Total Short-Term Assets $112.6M $108.1M $106.6M
Total Long-Term Assets $48.18M $56.77M $57.28M
Total Assets $160.8M $164.9M $163.9M
YoY Change -1.89% 10.81% 19.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.789M $1.974M $1.841M
YoY Change -2.82% 28.1% 45.76%
Accrued Expenses $2.900M $6.300M $5.600M
YoY Change -48.21% 90.91% 115.38%
Deferred Revenue $32.95M $32.71M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.34M $46.12M $46.98M
YoY Change -9.86% 7.92% 16.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.097M $1.496M $1.779M
YoY Change -38.34% 1793.67% 2441.43%
Total Long-Term Liabilities $1.097M $1.496M $1.779M
YoY Change -38.34% 1793.67% 2441.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.34M $46.12M $46.98M
Total Long-Term Liabilities $1.097M $1.496M $1.779M
Total Liabilities $46.47M $50.52M $51.49M
YoY Change -9.75% 12.2% 22.88%
SHAREHOLDERS EQUITY
Retained Earnings -$172.0K $5.119M $5.467M
YoY Change -103.15% 11.09% -324.79%
Common Stock $136.5M $131.3M $129.0M
YoY Change 5.81% 8.23% 7.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 4.589B shares 4.589B shares
Shareholders Equity $114.4M $112.6M $112.4M
YoY Change
Total Liabilities & Shareholders Equity $160.8M $164.9M $163.9M
YoY Change -1.89% 10.81% 19.68%

Cashflow Statement

Concept 2019 Q1 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $2.301M $1.268M $5.580M
YoY Change -58.76% -87.66% 148.77%
Depreciation, Depletion And Amortization $1.960M $1.720M $1.599M
YoY Change 22.58% 8.18% -20.05%
Cash From Operating Activities $8.810M $1.400M $4.830M
YoY Change 82.4% 169.23% -49.79%
INVESTING ACTIVITIES
Capital Expenditures $120.0K -$2.160M $201.0K
YoY Change -40.3% 44.97% 16.86%
Acquisitions
YoY Change
Other Investing Activities $0.00 $100.0K -$9.250M
YoY Change -100.0% -99.24%
Cash From Investing Activities -$2.200M -$2.060M -$10.49M
YoY Change -79.03% -117.68% 918.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.490M -1.460M -670.0K
YoY Change 271.64% -23.96% -33.66%
NET CHANGE
Cash From Operating Activities 8.810M 1.400M 4.830M
Cash From Investing Activities -2.200M -2.060M -10.49M
Cash From Financing Activities -2.490M -1.460M -670.0K
Net Change In Cash 4.120M -2.120M -6.330M
YoY Change -165.09% -120.68% -183.51%
FREE CASH FLOW
Cash From Operating Activities $8.810M $1.400M $4.830M
Capital Expenditures $120.0K -$2.160M $201.0K
Free Cash Flow $8.690M $3.560M $4.629M
YoY Change 87.73% 77.11% -51.01%

Facts In Submission

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NetCashProvidedByUsedInOperatingActivities
5351000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13608000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
5580000 USD
us-gaap Net Income Loss
NetIncomeLoss
10785000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
2301000 USD
us-gaap Net Income Loss
NetIncomeLoss
4929000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Segment
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
12842000 USD
us-gaap Operating Expenses
OperatingExpenses
35209000 USD
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
11909000 USD
us-gaap Operating Expenses
OperatingExpenses
38195000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4204000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
11068000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2130000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4263000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2777000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3910000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4102000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1246000 USD
CY2019Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1279000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1326000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1496000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1097000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1496000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1171000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-461000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
7427000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
9253000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
10172000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
20010000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
201000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
413000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
120000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1014000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6592000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6184000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6718000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
11656000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
12944000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6719000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4004000 USD
us-gaap Profit Loss
ProfitLoss
10785000 USD
us-gaap Profit Loss
ProfitLoss
4929000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3034000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3562000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3034000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3099000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8250000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2811000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9818000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3366000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-172000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5119000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
30117000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
83340000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
27003000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
82435000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
59000000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
us-gaap Segment Reporting Disclosure Of Major Customers
SegmentReportingDisclosureOfMajorCustomers
No one customer accounted for more than 10% of total revenues for the three and nine months ended January 31, 2019 and 2018.
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5385000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15055000 USD
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4699000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15183000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
314000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1108000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
466000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1308000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2200000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2100000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1196000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1201000 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3470017 shares
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4017123 shares
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
26121000 USD
CY2019Q1 us-gaap Short Term Investments
ShortTermInvestments
28106000 USD
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
26121000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
778129 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
456113 shares
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
112584000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
114356000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
114337000 USD
CY2018Q2 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
4588632 shares
CY2019Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
4588632 shares
CY2018Q2 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
25559000 USD
CY2019Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
25559000 USD
CY2018Q2 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
25559000 USD
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
4588632000 shares
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
4588632000 shares
CY2018Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
3375000 USD
CY2019Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
2992000 USD
CY2018Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
3815000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30701000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30299000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31183000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31351000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30244000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29940000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31010000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30887000 shares

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