2019 Q2 Form 10-Q Financial Statement

#000143774919014870 Filed on July 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $26.29M $25.14M
YoY Change 4.56% 10.89%
Cost Of Revenue $10.15M $10.05M
YoY Change 0.98% 0.49%
Gross Profit $16.20M $15.09M
YoY Change 7.38% 19.1%
Gross Profit Margin 61.64% 60.02%
Selling, General & Admin $9.728M $9.490M
YoY Change 2.51% -0.48%
% of Gross Profit 60.03% 62.89%
Research & Development $1.019M $837.0K
YoY Change 21.74% -27.41%
% of Gross Profit 6.29% 5.55%
Depreciation & Amortization $2.181M $2.455M
YoY Change -11.16% 7.77%
% of Gross Profit 13.46% 16.27%
Operating Expenses $10.75M $10.33M
YoY Change 4.07% -3.39%
Operating Profit $5.392M $4.764M
YoY Change 13.18% 140.36%
Interest Expense $395.0K
YoY Change
% of Operating Profit 7.33%
Other Income/Expense, Net -$32.00K -$364.0K
YoY Change -91.21% -46.39%
Pretax Income $5.360M $4.400M
YoY Change 21.82% 237.68%
Income Tax $763.0K $170.0K
% Of Pretax Income 14.24% 3.86%
Net Earnings $4.660M $4.230M
YoY Change 10.17% 178.84%
Net Earnings / Revenue 17.73% 16.82%
Basic Earnings Per Share $1.20 $1.11
Diluted Earnings Per Share $1.14 $1.06
COMMON SHARES
Basic Shares Outstanding 3.901M 3.816M
Diluted Shares Outstanding 4.086M 4.006M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.300M $7.400M
YoY Change -1.35% 146.67%
Cash & Equivalents $7.315M $7.400M
Short-Term Investments
Other Short-Term Assets $6.600M $4.300M
YoY Change 53.49% -4.44%
Inventory $6.971M $8.632M
Prepaid Expenses
Receivables $12.95M $12.47M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.82M $32.83M
YoY Change 3.02% -2.72%
LONG-TERM ASSETS
Property, Plant & Equipment $21.98M $23.30M
YoY Change -5.65% -9.77%
Goodwill $67.42M $65.09M
YoY Change 3.58% -10.5%
Intangibles $33.75M $40.11M
YoY Change -15.85% 9.36%
Long-Term Investments
YoY Change
Other Assets $1.361M $100.0K
YoY Change 1261.0%
Total Long-Term Assets $125.8M $128.6M
YoY Change -2.16% -4.88%
TOTAL ASSETS
Total Short-Term Assets $33.82M $32.83M
Total Long-Term Assets $125.8M $128.6M
Total Assets $159.7M $161.5M
YoY Change -1.11% -4.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.130M $2.873M
YoY Change 8.95% 22.88%
Accrued Expenses $4.792M $3.321M
YoY Change 44.29% 32.68%
Deferred Revenue $4.086M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.250M $1.750M
YoY Change 28.57% 40.0%
Total Short-Term Liabilities $21.32M $15.64M
YoY Change 36.35% 4.77%
LONG-TERM LIABILITIES
Long-Term Debt $17.51M $37.66M
YoY Change -53.5% -23.61%
Other Long-Term Liabilities $696.0K $184.0K
YoY Change 278.26% 84.0%
Total Long-Term Liabilities $18.21M $37.85M
YoY Change -51.89% -23.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.32M $15.64M
Total Long-Term Liabilities $18.21M $37.85M
Total Liabilities $40.62M $56.01M
YoY Change -27.47% -17.63%
SHAREHOLDERS EQUITY
Retained Earnings $77.28M $71.90M
YoY Change 7.48% -3.58%
Common Stock $43.40M $34.30M
YoY Change 26.54% 25.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $119.0M $105.5M
YoY Change
Total Liabilities & Shareholders Equity $159.7M $161.5M
YoY Change -1.11% -4.45%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $4.660M $4.230M
YoY Change 10.17% 178.84%
Depreciation, Depletion And Amortization $2.181M $2.455M
YoY Change -11.16% 7.77%
Cash From Operating Activities $724.0K $6.543M
YoY Change -88.93% 144.05%
INVESTING ACTIVITIES
Capital Expenditures $226.0K -$300.0K
YoY Change -175.33% -80.13%
Acquisitions
YoY Change
Other Investing Activities -$2.560M $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.781M -$300.0K
YoY Change 827.0% -80.86%
FINANCING ACTIVITIES
Cash Dividend Paid $624.0K $610.0K
YoY Change 2.3% 1.5%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$915.0K -4.442M
YoY Change -79.4% 14.25%
NET CHANGE
Cash From Operating Activities $724.0K 6.543M
Cash From Investing Activities -$2.781M -300.0K
Cash From Financing Activities -$915.0K -4.442M
Net Change In Cash -$2.870M 1.801M
YoY Change -259.36% -164.92%
FREE CASH FLOW
Cash From Operating Activities $724.0K $6.543M
Capital Expenditures $226.0K -$300.0K
Free Cash Flow $498.0K $6.843M
YoY Change -92.72% 63.28%

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CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
443000
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1361000
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
186000
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1312000
CY2019Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
696000
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
105000
CY2019Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-64000
CY2018Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
96000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-32000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-364000
CY2019Q2 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
226000
CY2018Q2 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
300000
CY2019Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
624000
CY2018Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
610000
CY2019Q2 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
2555000
CY2018Q2 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3139000
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1598000
CY2019Q2 us-gaap Prepaid Taxes
PrepaidTaxes
3447000
CY2019Q1 us-gaap Prepaid Taxes
PrepaidTaxes
2552000
CY2019Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2709000
CY2018Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3043000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21982000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22225000
CY2019Q2 us-gaap Repayments Of Debt
RepaymentsOfDebt
3000000
CY2018Q2 us-gaap Repayments Of Debt
RepaymentsOfDebt
6875000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1019000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
837000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
77276000
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
73303000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26288000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25142000
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
73000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
29000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
354000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
333000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
94.04
CY2019Q2 us-gaap Selling Expense
SellingExpense
2208000
CY2018Q2 us-gaap Selling Expense
SellingExpense
1890000
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
868000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
739000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
1000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
149.14
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
19000
CY2019Q2 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
201.88
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
31000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
47000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
162.23
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
179.33
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2000
CY2019Q2 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
142.72
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
19000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
98.04
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
103.94
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
87.54
CY2019Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
205.46
CY2019Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
31000
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
868000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
739000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2709000
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3043000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
119047000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
111311000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
99361000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
105451000
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
27000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4086000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4006000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3901000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3816000

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