$MCHX
MARCHEX INC

2016 Q2 Form 10-Q Financial Statement

#000119312516676834 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4 2015 Q2
Revenue $34.41M $34.90M $35.35M
YoY Change -2.64% 11.75% -24.86%
Cost Of Revenue $20.48M $19.60M $19.80M
YoY Change 3.43% 15.09% -37.06%
Gross Profit $13.94M $15.30M $15.55M
YoY Change -10.38% 7.82% -0.24%
Gross Profit Margin 40.49% 43.84% 43.99%
Selling, General & Admin $11.48M $8.080M $8.750M
YoY Change 31.22% 4.26% 8.06%
% of Gross Profit 82.4% 52.81% 56.27%
Research & Development $7.555M $7.450M $8.147M
YoY Change -7.27% 7.04% 9.24%
% of Gross Profit 54.22% 48.69% 52.4%
Depreciation & Amortization $808.0K $920.0K $929.0K
YoY Change -13.02% 1.1% 11.52%
% of Gross Profit 5.8% 6.01% 5.97%
Operating Expenses $19.04M $15.53M $16.90M
YoY Change 12.66% 5.5% 8.63%
Operating Profit -$68.71M -$230.0K -$1.466M
YoY Change 4586.97% -56.6% -2224.64%
Interest Expense -$30.00K -$10.00K -$20.00K
YoY Change 50.0% -50.0% 0.0%
% of Operating Profit
Other Income/Expense, Net -$68.00K $0.00 -$16.00K
YoY Change 325.0% -27.27%
Pretax Income -$68.78M $1.240M -$1.482M
YoY Change 4540.96% -329.63% -3253.19%
Income Tax $12.00K $20.00K -$185.0K
% Of Pretax Income 1.61%
Net Earnings -$68.79M $1.260M $20.87M
YoY Change -429.65% 121.05% 2029.39%
Net Earnings / Revenue -199.9% 3.61% 59.04%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.648M $30.71K $505.2K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $105.8M $109.2M $104.4M
YoY Change 1.34% 36.5% 39.2%
Cash & Equivalents $105.8M $109.2M $104.4M
Short-Term Investments
Other Short-Term Assets $2.400M $1.800M $2.600M
YoY Change -7.69% -41.94% -44.68%
Inventory
Prepaid Expenses
Receivables $25.30M $24.62M $30.51M
Other Receivables $100.0K $100.0K $100.0K
Total Short-Term Assets $133.6M $135.7M $137.7M
YoY Change -2.97% 24.2% 20.32%
LONG-TERM ASSETS
Property, Plant & Equipment $4.454M $5.778M $6.471M
YoY Change -31.17% 6.41% 28.34%
Goodwill $0.00 $63.31M $63.31M
YoY Change -100.0% -3.61% -3.61%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $205.0K
YoY Change -26.52%
Total Long-Term Assets $4.676M $69.31M $70.02M
YoY Change -93.32% -2.96% -25.63%
TOTAL ASSETS
Total Short-Term Assets $133.6M $135.7M $137.7M
Total Long-Term Assets $4.676M $69.31M $70.02M
Total Assets $138.3M $205.0M $207.7M
YoY Change -33.43% 13.46% -0.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.614M $9.460M $13.37M
YoY Change -28.09% -31.28% -33.75%
Accrued Expenses $7.600M $6.700M $7.900M
YoY Change -3.8% -10.67% -5.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.53M $16.86M $22.62M
YoY Change -22.49% -27.93% -26.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $407.0K $662.0K $898.0K
YoY Change -54.68% -40.79% -32.07%
Total Long-Term Liabilities $407.0K $662.0K $898.0K
YoY Change -54.68% -40.79% -32.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.53M $16.86M $22.62M
Total Long-Term Liabilities $407.0K $662.0K $898.0K
Total Liabilities $17.94M $17.53M $23.51M
YoY Change -23.72% -28.51% -26.71%
SHAREHOLDERS EQUITY
Retained Earnings -$236.0M -$163.5M -$164.8M
YoY Change 43.21% -14.05% -2.67%
Common Stock $356.0M $350.8M $348.7M
YoY Change 2.09% 0.67% 0.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $95.00K $238.0K $144.0K
YoY Change -34.03% -90.49% 14300.0%
Treasury Stock Shares
Shareholders Equity $120.3M $187.5M $184.2M
YoY Change
Total Liabilities & Shareholders Equity $138.3M $205.0M $207.7M
YoY Change -33.43% 13.46% -0.42%

Cashflow Statement

Concept 2016 Q2 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$68.79M $1.260M $20.87M
YoY Change -429.65% 121.05% 2029.39%
Depreciation, Depletion And Amortization $808.0K $920.0K $929.0K
YoY Change -13.02% 1.1% 11.52%
Cash From Operating Activities -$380.0K $750.0K -$1.760M
YoY Change -78.41% -82.56% -153.5%
INVESTING ACTIVITIES
Capital Expenditures -$120.0K -$490.0K -$2.040M
YoY Change -94.12% -51.0% 277.78%
Acquisitions
YoY Change
Other Investing Activities $0.00 $730.0K $25.76M
YoY Change -100.0%
Cash From Investing Activities -$110.0K $240.0K $23.72M
YoY Change -100.46% -124.0% -4492.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -320.0K -770.0K -1.180M
YoY Change -72.88% -80.36% -103.5%
NET CHANGE
Cash From Operating Activities -380.0K 750.0K -1.760M
Cash From Investing Activities -110.0K 240.0K 23.72M
Cash From Financing Activities -320.0K -770.0K -1.180M
Net Change In Cash -810.0K 220.0K 20.78M
YoY Change -103.9% -135.48% -42.96%
FREE CASH FLOW
Cash From Operating Activities -$380.0K $750.0K -$1.760M
Capital Expenditures -$120.0K -$490.0K -$2.040M
Free Cash Flow -$260.0K $1.240M $280.0K
YoY Change -192.86% -76.6% -92.69%

Facts In Submission

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IncreaseDecreaseInAccountsReceivable
1307000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-72468000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
8000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
94000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-3000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-37000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-75000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-72468000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
600000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-72443000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5467000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1096000
CY2015Q2 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
22257000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-16000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-131000
mchx Allowance For Doubtful Accounts And Advertiser Credits
AllowanceForDoubtfulAccountsAndAdvertiserCredits
627000
mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0 Distributor
mchx Other Contract Obligation Expiration Through Date
OtherContractObligationExpirationThroughDate
2018
mchx Acquisition And Disposition Related Costs
AcquisitionAndDispositionRelatedCosts
308000
mchx Number Of Shares Repurchased For Taxes On Restricted Stock
NumberOfSharesRepurchasedForTaxesOnRestrictedStock
23000 shares
mchx Operating Lease Expiration Through Date
OperatingLeaseExpirationThroughDate
2018
mchx Percentage Of Revenue As Criteria For Major Distribution Partners
PercentageOfRevenueAsCriteriaForMajorDistributionPartners
0.10 pure
CY2016Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
27000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
33000 shares
CY2016Q2 mchx Share Based Compensation Arrangement By Share Based Payment Award Options Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsContractualTerm
P10Y
CY2015Q2 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
28100000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M29D
CY2015 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2015Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.02
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.53
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.50
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.03
CY2015Q2 us-gaap Revenues
Revenues
35346000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1466000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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CY2015Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20849000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1482000
CY2015Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
-92000
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2667000
CY2015Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
929000.0
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-185000
CY2015Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
18000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4245000
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
36812000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4505000
CY2015Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
476000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8147000
CY2015Q2 us-gaap Cost Of Services
CostOfServices
19797000
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
2000
CY2015Q2 mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0 Distributor
CY2015Q2 mchx Acquisition And Disposition Related Costs
AcquisitionAndDispositionRelatedCosts
118000
CY2015Q2 mchx Dividends Paid To Participating Securities
DividendsPaidToParticipatingSecurities
19000
CY2015Q2 mchx Percentage Of Revenue As Criteria For Major Distribution Partners
PercentageOfRevenueAsCriteriaForMajorDistributionPartners
0.10 pure
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.65
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
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CY2016Q2 us-gaap Revenues
Revenues
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CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2016Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-34000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12000
CY2016Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
34000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5649000
CY2016Q2 us-gaap Costs And Expenses
CostsAndExpenses
39818000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5833000
CY2016Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
494000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7555000
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-68000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-68791000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-68779000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3501000
CY2016Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
808000.0
CY2016Q2 us-gaap Cost Of Services
CostOfServices
20477000
CY2016Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
63305000
CY2016Q2 mchx Number Of Major Distribution Partners
NumberOfMajorDistributionPartners
0 Distributor
CY2016Q2 mchx Acquisition And Disposition Related Costs
AcquisitionAndDispositionRelatedCosts
304000
CY2016Q2 mchx Percentage Of Revenue As Criteria For Major Distribution Partners
PercentageOfRevenueAsCriteriaForMajorDistributionPartners
0.10 pure

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