2013 Q4 Form 10-Q Financial Statement

#000119312513438247 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $14.91M $20.23M $16.08M
YoY Change 52.12% 25.81%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.800M $2.000M $1.500M
YoY Change 8.57% 33.33%
% of Gross Profit
Research & Development $14.30M $11.09M $11.97M
YoY Change 68.24% -7.35%
% of Gross Profit
Depreciation & Amortization $360.0K $316.9K $235.5K
YoY Change 50.0% 34.52%
% of Gross Profit
Operating Expenses $18.10M $11.09M $11.97M
YoY Change 49.59% -7.35%
Operating Profit $7.158M $2.599M
YoY Change 175.42%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 -$554.0K $1.557K
YoY Change -100.0% -35681.25%
Pretax Income -$3.200M $6.600M $2.600M
YoY Change 52.38% 153.85%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings -$3.205M $6.604M $2.601M
YoY Change 52.26% 153.9%
Net Earnings / Revenue -21.5% 32.64% 16.17%
Basic Earnings Per Share -$0.14 $0.14 $0.00
Diluted Earnings Per Share -$0.14 $0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 25.02M shares 1.185M shares 1.092M shares
Diluted Shares Outstanding 21.24M shares 21.50M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.5M $33.60M
YoY Change
Cash & Equivalents $116.5M $33.57M $30.45M
Short-Term Investments
Other Short-Term Assets $1.000M $1.100M
YoY Change
Inventory
Prepaid Expenses $972.0K $1.103M
Receivables $2.004M $2.281M
Other Receivables $0.00 $0.00
Total Short-Term Assets $119.5M $36.95M
YoY Change 139.26%
LONG-TERM ASSETS
Property, Plant & Equipment $5.035M $4.470M
YoY Change 54.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $885.0K $147.2K
YoY Change 501.04%
Total Long-Term Assets $6.325M $5.022M
YoY Change 65.58%
TOTAL ASSETS
Total Short-Term Assets $119.5M $36.95M
Total Long-Term Assets $6.325M $5.022M
Total Assets $125.8M $41.98M
YoY Change 134.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.169M $1.798M
YoY Change -15.25%
Accrued Expenses $3.584M $939.8K
YoY Change 189.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.400M $1.200M
YoY Change
Total Short-Term Liabilities $28.82M $25.27M
YoY Change -3.05%
LONG-TERM LIABILITIES
Long-Term Debt $8.000M $8.400M
YoY Change
Other Long-Term Liabilities $10.00M $12.40M
YoY Change
Total Long-Term Liabilities $18.00M $20.80M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $28.82M $25.27M
Total Long-Term Liabilities $18.00M $20.80M
Total Liabilities $46.87M $46.02M
YoY Change -24.39%
SHAREHOLDERS EQUITY
Retained Earnings -$175.7M -$172.5M
YoY Change 0.15%
Common Stock $252.0K $21.25K
YoY Change 2193.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $58.00K $57.74K
YoY Change 0.45%
Treasury Stock Shares
Shareholders Equity $78.91M -$4.048M
YoY Change
Total Liabilities & Shareholders Equity $125.8M $41.98M
YoY Change 134.03%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$3.205M $6.604M $2.601M
YoY Change 52.26% 153.9%
Depreciation, Depletion And Amortization $360.0K $316.9K $235.5K
YoY Change 50.0% 34.52%
Cash From Operating Activities -$1.180M $810.0K -$6.320M
YoY Change -106.67% -112.82%
INVESTING ACTIVITIES
Capital Expenditures -$920.0K -$1.160M -$280.0K
YoY Change 124.39% 314.29%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$920.0K -$1.160M -$280.0K
YoY Change 124.39% 314.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 85.02M 140.0K 10.00K
YoY Change 850100.0% 1300.0%
NET CHANGE
Cash From Operating Activities -1.180M 810.0K -6.320M
Cash From Investing Activities -920.0K -1.160M -280.0K
Cash From Financing Activities 85.02M 140.0K 10.00K
Net Change In Cash 82.92M -210.0K -6.590M
YoY Change 379.31% -96.81%
FREE CASH FLOW
Cash From Operating Activities -$1.180M $810.0K -$6.320M
Capital Expenditures -$920.0K -$1.160M -$280.0K
Free Cash Flow -$260.0K $1.970M -$6.040M
YoY Change -101.44% -132.62%

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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b><i>Concentration of Credit Risk</i></b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Substantially all of the Company&#x2019;s cash and cash equivalents are maintained with major financial institutions in the United States. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, bear minimal risk.</p> <p style="MARGIN-TOP: 12pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, and accounts receivable. 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CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
CY2012 mgnx Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized After Increase
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorizedAfterIncrease
4336731 shares
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21502424 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20410117 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1092307 shares
CY2012Q3 us-gaap Revenues
Revenues
16081544
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1557
CY2012Q3 us-gaap Licenses Revenue
LicensesRevenue
15532680
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
CY2012Q3 us-gaap Revenue From Grants
RevenueFromGrants
548864
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2598957
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
2600514
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
13482587
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1514334
CY2012Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
783462
CY2012Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
48891
CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11968253
CY2012Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
2600514
CY2012Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
235543
CY2012Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
2600514
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
209599
CY2012Q3 mgnx Amount Of Additional Consideration Paid Under Agreement
AmountOfAdditionalConsiderationPaidUnderAgreement
0
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21242978 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20058471 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1184507 shares
CY2013Q3 us-gaap Revenues
Revenues
20232068
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
169226
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-553612
CY2013Q3 us-gaap Licenses Revenue
LicensesRevenue
20111173
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
200139
CY2013Q3 us-gaap Revenue From Grants
RevenueFromGrants
120895
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7157594
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
6603982
CY2013Q3 us-gaap Costs And Expenses
CostsAndExpenses
13074474
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1986555
CY2013Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
806275
CY2013Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
55311
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11087919
CY2013Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
6434756
CY2013Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
316852
CY2013Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
6403843
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
135936
CY2013Q3 mgnx Amount Of Additional Consideration Paid Under Agreement
AmountOfAdditionalConsiderationPaidUnderAgreement
0

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