2018 Q3 Form 10-Q Financial Statement

#000143774918019107 Filed on October 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $24.87M $22.95M
YoY Change 8.33% -5.96%
Cost Of Revenue $10.29M $9.721M
YoY Change 5.83% -9.02%
Gross Profit $14.58M $13.23M
YoY Change 10.16% -3.58%
Gross Profit Margin 58.62% 57.65%
Selling, General & Admin $9.297M $8.700M
YoY Change 6.86% 0.38%
% of Gross Profit 63.78% 65.74%
Research & Development $842.0K $885.0K
YoY Change -4.86% -15.31%
% of Gross Profit 5.78% 6.69%
Depreciation & Amortization $2.430M $2.250M
YoY Change 8.0% 0.45%
% of Gross Profit 16.67% 17.0%
Operating Expenses $13.44M $9.585M
YoY Change 40.21% -1.31%
Operating Profit $1.138M $3.648M
YoY Change -68.8% -9.07%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $168.0K -$542.0K
YoY Change -131.0% -32.25%
Pretax Income $1.306M $3.106M
YoY Change -57.95% -3.3%
Income Tax $312.0K $753.0K
% Of Pretax Income 23.89% 24.24%
Net Earnings $994.0K $2.353M
YoY Change -57.76% -0.3%
Net Earnings / Revenue 4.0% 10.25%
Basic Earnings Per Share $0.26 $0.63
Diluted Earnings Per Share $0.25 $0.60
COMMON SHARES
Basic Shares Outstanding 3.850M 3.764M
Diluted Shares Outstanding 4.046M 3.935M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.600M $10.30M
YoY Change -45.63% 101.96%
Cash & Equivalents $5.625M $10.27M
Short-Term Investments
Other Short-Term Assets $6.400M $5.900M
YoY Change 8.47% 293.33%
Inventory $8.336M $12.91M
Prepaid Expenses
Receivables $13.24M $12.19M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.59M $41.32M
YoY Change -18.7% 20.33%
LONG-TERM ASSETS
Property, Plant & Equipment $23.24M $23.76M
YoY Change -2.21% 7.37%
Goodwill $65.08M $73.41M
YoY Change -11.35% 4.23%
Intangibles $38.26M $35.44M
YoY Change 7.95% -9.94%
Long-Term Investments
YoY Change
Other Assets $100.0K
YoY Change
Total Long-Term Assets $126.7M $132.6M
YoY Change -4.46% 0.53%
TOTAL ASSETS
Total Short-Term Assets $33.59M $41.32M
Total Long-Term Assets $126.7M $132.6M
Total Assets $160.3M $173.9M
YoY Change -7.84% 4.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.295M $2.036M
YoY Change 12.72% -41.56%
Accrued Expenses $3.665M $2.649M
YoY Change 38.35% 31.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.875M $1.375M
YoY Change 36.36% -54.17%
Total Short-Term Liabilities $19.53M $14.45M
YoY Change 35.17% -33.7%
LONG-TERM LIABILITIES
Long-Term Debt $31.19M $50.46M
YoY Change -38.19% 1.42%
Other Long-Term Liabilities $133.0K $100.0K
YoY Change 33.0% 0.0%
Total Long-Term Liabilities $31.32M $50.46M
YoY Change -37.92% 1.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.53M $14.45M
Total Long-Term Liabilities $31.32M $50.46M
Total Liabilities $53.39M $68.70M
YoY Change -22.29% -9.59%
SHAREHOLDERS EQUITY
Retained Earnings $72.28M $76.33M
YoY Change -5.3% 12.33%
Common Stock $35.42M $28.97M
YoY Change 22.25% 22.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $106.9M $105.2M
YoY Change
Total Liabilities & Shareholders Equity $160.3M $173.9M
YoY Change -7.84% 4.62%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $994.0K $2.353M
YoY Change -57.76% -0.3%
Depreciation, Depletion And Amortization $2.430M $2.250M
YoY Change 8.0% 0.45%
Cash From Operating Activities $3.660M $4.690M
YoY Change -21.96% -303.91%
INVESTING ACTIVITIES
Capital Expenditures -$550.0K -$500.0K
YoY Change 10.0% -84.42%
Acquisitions
YoY Change
Other Investing Activities $2.220M $1.130M
YoY Change 96.46% -236.14%
Cash From Investing Activities $1.670M $630.0K
YoY Change 165.08% -115.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.860M 1.750M
YoY Change -492.0% -74.15%
NET CHANGE
Cash From Operating Activities 3.660M 4.690M
Cash From Investing Activities 1.670M 630.0K
Cash From Financing Activities -6.860M 1.750M
Net Change In Cash -1.530M 7.070M
YoY Change -121.64% 1583.33%
FREE CASH FLOW
Cash From Operating Activities $3.660M $4.690M
Capital Expenditures -$550.0K -$500.0K
Free Cash Flow $4.210M $5.190M
YoY Change -18.88% 470.33%

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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11300000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2137000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1373000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-941000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10200000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7368000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
994000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
2353000
us-gaap Net Income Loss
NetIncomeLoss
5224000
us-gaap Net Income Loss
NetIncomeLoss
3870000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
994000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2353000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5224000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3870000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
13439000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
9585000
us-gaap Operating Expenses
OperatingExpenses
23766000
us-gaap Operating Expenses
OperatingExpenses
20274000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1138000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3648000
us-gaap Operating Income Loss
OperatingIncomeLoss
5902000
us-gaap Operating Income Loss
OperatingIncomeLoss
5630000
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-49000
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
948000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1361000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1699000
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
133000
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
194000
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
168000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-542000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-196000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1221000
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
849000
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
2012000
us-gaap Payments Of Dividends
PaymentsOfDividends
1226000
us-gaap Payments Of Dividends
PaymentsOfDividends
1201000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
62000
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2223000
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
782000
CY2018Q3 us-gaap Prepaid Taxes
PrepaidTaxes
4165000
CY2018Q1 us-gaap Prepaid Taxes
PrepaidTaxes
273000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
4000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2222000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1133000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3176000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2064000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23235000
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23593000
us-gaap Repayments Of Debt
RepaymentsOfDebt
13250000
us-gaap Repayments Of Debt
RepaymentsOfDebt
7000000
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
842000
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
885000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1679000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2038000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
72279000
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
68281000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24865000
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
22954000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
50007000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
45627000
CY2018Q3 us-gaap Selling Expense
SellingExpense
1804000
CY2017Q3 us-gaap Selling Expense
SellingExpense
2288000
us-gaap Selling Expense
SellingExpense
3694000
us-gaap Selling Expense
SellingExpense
4967000
us-gaap Share Based Compensation
ShareBasedCompensation
1729000
us-gaap Share Based Compensation
ShareBasedCompensation
985000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
142.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
27000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
168.82
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
9000
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
34000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
125.68
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
161.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
151.18
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
157
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
25000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
96.51
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
24940
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
53.56
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
458000
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
406000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
86.38
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
91.53
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
68.98
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
143.36
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
52000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
106903000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
99361000
CY2018 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-59000
CY2018Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
220000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4046000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3935000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4029000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3934000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3850000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3764000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3833000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3754000

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