2013 Q1 Form 10-Q Financial Statement

#000110465913008785 Filed on February 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q4 2011 Q4
Revenue $12.81M $11.36M $9.650M
YoY Change 16.77% 17.73% 26.14%
Cost Of Revenue $4.600M $4.414M $3.765M
YoY Change 2.22% 17.24% 17.29%
Gross Profit $8.211M $6.947M $5.885M
YoY Change 27.03% 18.05% 32.55%
Gross Profit Margin 64.1% 61.15% 60.98%
Selling, General & Admin $3.670M $3.982M $2.381M
YoY Change 47.98% 67.24% 36.06%
% of Gross Profit 44.7% 57.32% 40.46%
Research & Development $610.0K $501.0K $342.0K
YoY Change 103.33% 46.49% -12.98%
% of Gross Profit 7.43% 7.21% 5.81%
Depreciation & Amortization $840.0K $910.0K $540.0K
YoY Change 44.83% 68.52% 14.89%
% of Gross Profit 10.23% 13.1% 9.18%
Operating Expenses $4.280M $4.483M $2.723M
YoY Change 53.96% 64.63% 592.88%
Operating Profit $3.931M $2.464M $3.162M
YoY Change 6.7% -22.07% -21.87%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$20.00K -$40.00K -$30.00K
YoY Change 0.0% 33.33% -9.09%
Pretax Income $3.910M $2.426M $3.131M
YoY Change 17.77% -22.52% 59.01%
Income Tax $1.360M $883.0K $1.144M
% Of Pretax Income 34.78% 36.4% 36.54%
Net Earnings $2.560M $1.540M $1.990M
YoY Change 16.36% -22.61% 57.94%
Net Earnings / Revenue 19.98% 13.56% 20.62%
Basic Earnings Per Share $0.76 $0.46 $0.60
Diluted Earnings Per Share $0.71 $0.44 $0.57
COMMON SHARES
Basic Shares Outstanding 3.380M shares 3.360M shares 3.286M shares
Diluted Shares Outstanding 3.542M shares 3.498M shares

Balance Sheet

Concept 2013 Q1 2012 Q4 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.000M $2.700M $5.700M
YoY Change -44.44% -52.63% 171.43%
Cash & Equivalents $4.006M $2.722M $5.691M
Short-Term Investments
Other Short-Term Assets $1.400M $1.000M $800.0K
YoY Change 40.0% 25.0% 33.33%
Inventory $5.576M $5.281M $4.900M
Prepaid Expenses
Receivables $8.474M $7.595M $6.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.46M $16.56M $17.50M
YoY Change 1.53% -5.38% 23.24%
LONG-TERM ASSETS
Property, Plant & Equipment $7.406M $7.328M $7.300M
YoY Change 1.93% 0.38% -1.35%
Goodwill $23.64M $23.64M
YoY Change 63.6%
Intangibles $15.42M $16.09M
YoY Change 57.02%
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $46.46M $47.06M $32.72M
YoY Change 47.34% 43.81% -2.03%
TOTAL ASSETS
Total Short-Term Assets $19.46M $16.56M $17.50M
Total Long-Term Assets $46.46M $47.06M $32.72M
Total Assets $65.92M $63.62M $50.22M
YoY Change 30.03% 26.67% 5.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.010M $883.0K $600.0K
YoY Change 76.27% 47.17% -45.45%
Accrued Expenses $422.0K $488.0K $1.700M
YoY Change -16.27% -71.29% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $1.000M
YoY Change 25.0%
Total Short-Term Liabilities $4.662M $3.859M $4.630M
YoY Change 9.39% -16.65% -45.53%
LONG-TERM LIABILITIES
Long-Term Debt $4.000M $5.000M $800.0K
YoY Change 525.0% -55.56%
Other Long-Term Liabilities $2.100M $2.100M
YoY Change
Total Long-Term Liabilities $4.000M $5.000M $800.0K
YoY Change 525.0% -55.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.662M $3.859M $4.630M
Total Long-Term Liabilities $4.000M $5.000M $800.0K
Total Liabilities $13.17M $13.52M $8.516M
YoY Change 94.16% 58.74% -35.48%
SHAREHOLDERS EQUITY
Retained Earnings $42.18M $42.71M
YoY Change 18.0%
Common Stock $10.72M $7.613M
YoY Change 25.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.75M $50.10M $41.71M
YoY Change
Total Liabilities & Shareholders Equity $65.92M $63.62M $50.20M
YoY Change 30.03% 26.73% 5.46%

Cashflow Statement

Concept 2013 Q1 2012 Q4 2011 Q4
OPERATING ACTIVITIES
Net Income $2.560M $1.540M $1.990M
YoY Change 16.36% -22.61% 57.94%
Depreciation, Depletion And Amortization $840.0K $910.0K $540.0K
YoY Change 44.83% 68.52% 14.89%
Cash From Operating Activities $2.950M $3.520M $4.300M
YoY Change -17.6% -18.14% 45.27%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$290.0K -$210.0K
YoY Change 92.31% 38.1% 75.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$710.0K
YoY Change -100.0% -100.0% -88.6%
Cash From Investing Activities -$250.0K -$290.0K -$920.0K
YoY Change 56.25% -68.48% -85.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.420M -3.290M -2.650M
YoY Change -25.65% 24.15% -235.9%
NET CHANGE
Cash From Operating Activities 2.950M 3.520M 4.300M
Cash From Investing Activities -250.0K -290.0K -920.0K
Cash From Financing Activities -1.420M -3.290M -2.650M
Net Change In Cash 1.280M -60.00K 730.0K
YoY Change -15.23% -108.22% -150.69%
FREE CASH FLOW
Cash From Operating Activities $2.950M $3.520M $4.300M
Capital Expenditures -$250.0K -$290.0K -$210.0K
Free Cash Flow $3.200M $3.810M $4.510M
YoY Change -13.75% -15.52% 46.43%

Facts In Submission

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dei Entity Central Index Key
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CY2012Q4 mlab Common Stock Shares Authorized Prior To Amendment
CommonStockSharesAuthorizedPriorToAmendment
8000000 shares
CY2012Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
7595000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
960000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7328000 USD
CY2012Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
16091000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
23640000 USD
CY2012Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
883000 USD
CY2012Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2219000 USD
CY2012Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
488000 USD
CY2012Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
269000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
2519000 USD
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
7613000 USD
CY2012Q4 mlab Employee Loans To Purchase Common Stock
EmployeeLoansToPurchaseCommonStock
226000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
42712000 USD
CY2012Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
4414000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
12976000 USD
CY2012Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2759000 USD
CY2012Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
501000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6782000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1399000 USD
CY2012Q4 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
38000 USD
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
109000 USD
CY2012Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
883000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3173000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2585000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
897000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
631000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-67000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-114000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
310000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-782000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
16660000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
6000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1341000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
794000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
4125000 USD
us-gaap Interest Paid
InterestPaid
120000 USD
mlab Noncash Portion Employee Loans To Purchase Common Stock
NoncashPortionEmployeeLoansToPurchaseCommonStock
177000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
545000 USD
us-gaap Notes Reduction
NotesReduction
301000 USD
us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile
20504000 USD
CY2012Q4 mlab Provision For State Sales Taxes
ProvisionForStateSalesTaxes
100000 USD
CY2011Q4 mlab Provision For State Sales Taxes
ProvisionForStateSalesTaxes
250000 USD
us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Entitys Country Of Domicile
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile
17497000 USD
CY2012Q4 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Foreign Countries
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries
4348000 USD
CY2011Q4 us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Foreign Countries
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries
3966000 USD
us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Foreign Countries
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries
13123000 USD
us-gaap Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Foreign Countries
EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries
11151000 USD

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