2013 Q3 Form 10-Q Financial Statement

#000110465913057059 Filed on July 26, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $2.834M $3.107M $3.452M
YoY Change -21.76% -9.99% -9.52%
Cost Of Revenue $266.0K $830.0K $1.000M
YoY Change -73.29% -17.0% 4.49%
Gross Profit $2.568M $2.277M $2.452M
YoY Change -2.21% -7.14% -14.21%
Gross Profit Margin 90.61% 73.29% 71.03%
Selling, General & Admin $740.0K $710.0K $1.010M
YoY Change 4.96% -29.7% -47.86%
% of Gross Profit 28.82% 31.18% 41.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $583.0K $688.0K $730.0K
YoY Change -18.92% -5.75% -18.53%
% of Gross Profit 22.7% 30.22% 29.77%
Operating Expenses $3.744M $4.060M $4.034M
YoY Change -17.66% 0.64% -28.58%
Operating Profit -$849.0K -$768.0K -$582.0K
YoY Change -8.22% 31.96% -68.25%
Interest Expense -$640.0K -$510.0K $466.0K
YoY Change -184.32% -209.44% 0.65%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.490M -$1.459M -$1.048M
YoY Change -11.52% 39.22% -54.43%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.560M $830.0K -$1.030M
YoY Change -3.7% -180.58% -58.13%
Net Earnings / Revenue -55.05% 26.71% -29.84%
Basic Earnings Per Share
Diluted Earnings Per Share -$83.38K $43.87K -$55.32K
COMMON SHARES
Basic Shares Outstanding 18.78M shares 18.77M shares 18.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $400.0K $500.0K $1.100M
YoY Change -33.33% -54.55% 83.33%
Cash & Equivalents $420.0K $469.0K $1.100M
Short-Term Investments
Other Short-Term Assets $2.700M $2.600M $2.800M
YoY Change -15.63% -7.14% -50.0%
Inventory
Prepaid Expenses
Receivables $1.127M $1.220M $1.500M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.300M $4.245M $5.451M
YoY Change -18.16% -22.12% -35.11%
LONG-TERM ASSETS
Property, Plant & Equipment $41.47M $42.11M $46.90M
YoY Change -10.28% -10.21% -8.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.95M $11.13M $10.10M
YoY Change 9.45% 10.16% -16.53%
Total Long-Term Assets $52.37M $53.24M $57.08M
YoY Change -6.81% -6.72% -9.69%
TOTAL ASSETS
Total Short-Term Assets $4.300M $4.245M $5.451M
Total Long-Term Assets $52.37M $53.24M $57.08M
Total Assets $56.67M $57.48M $62.53M
YoY Change -7.78% -8.07% -12.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $500.0K $600.0K
YoY Change -45.45% -16.67% -76.0%
Accrued Expenses $2.000M $2.000M $3.100M
YoY Change -37.5% -35.48% -65.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $50.51M $48.61M $46.87M
YoY Change 6.18% 3.71%
Total Short-Term Liabilities $59.01M $57.59M $58.27M
YoY Change -0.93% -1.16% 273.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $5.176M $5.311M $31.10M
YoY Change 26.46% -82.92% 16.92%
Total Long-Term Liabilities $33.61M $34.60M $31.11M
YoY Change 11.82% 11.22% -56.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.01M $57.59M $58.27M
Total Long-Term Liabilities $33.61M $34.60M $31.11M
Total Liabilities $92.62M $92.19M $89.37M
YoY Change 3.35% 3.15% 3.2%
SHAREHOLDERS EQUITY
Retained Earnings -$94.98M -$93.41M
YoY Change 4.69%
Common Stock $85.98M $85.90M
YoY Change 0.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$35.96M -$34.70M -$26.85M
YoY Change
Total Liabilities & Shareholders Equity $56.67M $57.48M $62.53M
YoY Change -7.78% -8.07% -12.67%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$1.560M $830.0K -$1.030M
YoY Change -3.7% -180.58% -58.13%
Depreciation, Depletion And Amortization $583.0K $688.0K $730.0K
YoY Change -18.92% -5.75% -18.53%
Cash From Operating Activities -$1.880M -$1.300M -$720.0K
YoY Change 60.68% 80.56% -79.43%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K -$180.0K
YoY Change -100.0% -94.44% 20.0%
Acquisitions
YoY Change
Other Investing Activities -$40.00K $3.750M $60.00K
YoY Change -20.0% 6150.0% -98.9%
Cash From Investing Activities -$40.00K $3.740M -$120.0K
YoY Change -33.33% -3216.67% -102.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.870M -2.430M 370.0K
YoY Change 171.01% -756.76% -114.68%
NET CHANGE
Cash From Operating Activities -1.880M -1.300M -720.0K
Cash From Investing Activities -40.00K 3.740M -120.0K
Cash From Financing Activities 1.870M -2.430M 370.0K
Net Change In Cash -50.00K 10.00K -470.0K
YoY Change -90.74% -102.13% -33.8%
FREE CASH FLOW
Cash From Operating Activities -$1.880M -$1.300M -$720.0K
Capital Expenditures $0.00 -$10.00K -$180.0K
Free Cash Flow -$1.880M -$1.290M -$540.0K
YoY Change 62.07% 138.89% -83.88%

Facts In Submission

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UtilitiesOperatingExpense
258000 USD
CY2012Q2 us-gaap Cost Of Services
CostOfServices
1000000 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
730000 USD
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
744000 USD
CY2012Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
31000 USD
CY2012Q2 us-gaap Depreciation
Depreciation
730000 USD
CY2012Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
266000 USD
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
4034000 USD
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InterestIncomeExpenseNet
-466000 USD
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2013Q2 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
0 USD
CY2012Q2 us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
0 USD
CY2013Q2 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-116000 USD
CY2012Q2 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 USD
CY2013Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
CY2012Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
CY2013Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
859000 USD
CY2013Q2 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
442000 USD
CY2013Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.12
us-gaap Sales Of Real Estate
SalesOfRealEstate
1500000 USD
us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
563000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
2981000 USD
us-gaap Utility Revenue
UtilityRevenue
1543000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
2175000 USD
us-gaap Cost Of Real Estate Sales
CostOfRealEstateSales
149000 USD
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
874000 USD
mlp Leasing Expense
LeasingExpense
1315000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
882000 USD
us-gaap Cost Of Services
CostOfServices
2097000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1471000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1858000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
234000 USD
us-gaap Depreciation
Depreciation
1464000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
532000 USD
us-gaap Operating Expenses
OperatingExpenses
8937000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-1275000 USD
us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax
370000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-908000 USD
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.07
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3701000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1004000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-360000 USD
us-gaap Operating Expenses
OperatingExpenses
8526000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3266000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-594000 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.12
us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
0 USD
us-gaap Income Tax Expense Benefit Continuing Operations
IncomeTaxExpenseBenefitContinuingOperations
0 USD
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-116000 USD
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
0 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
-26253000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
-26847000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
267000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
215000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
103000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
94000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-370000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-390000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1146000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
194000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
410000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
91000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
125000 USD
CY2013Q2 mlp Leasing Expense
LeasingExpense
609000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2800000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1453000 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
103000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1244000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
223000 USD
us-gaap Interest Paid Net
InterestPaidNet
1092000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
469000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
890000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
8000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
12000 USD
us-gaap Escrow Deposits Related To Property Sales
EscrowDepositsRelatedToPropertySales
150000 USD
us-gaap Escrow Deposits Related To Property Sales
EscrowDepositsRelatedToPropertySales
150000 USD
us-gaap Stock Issued1
StockIssued1
133100 USD
us-gaap Stock Issued1
StockIssued1
150300 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.08
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.17
CY2013Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
539000 USD
CY2013Q2 us-gaap Cost Of Services
CostOfServices
830000 USD
CY2013Q2 us-gaap Depreciation
Depreciation
688000 USD
CY2013Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
222000 USD
CY2013Q2 us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax
228000 USD
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-506000 USD
us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
191000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
2523000 USD
us-gaap Utility Revenue
UtilityRevenue
1783000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
1963000 USD
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
839000 USD
mlp Leasing Expense
LeasingExpense
1389000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
1094000 USD
us-gaap Cost Of Services
CostOfServices
1914000 USD
us-gaap Depreciation
Depreciation
1375000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
444000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1200000 USD
us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax
390000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5000 USD
us-gaap Proceeds From Sale Of Productive Assets
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3760000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
54000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2900000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3561000 USD
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
343000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
150000 USD
CY2013Q2 mlp Area Of Real Estate Property Proposed To Be Sold
AreaOfRealEstatePropertyProposedToBeSold
270 acre
CY2013Q2 mlp Area Of Real Estate Property Held As Collateral For Unfunded Pension Obligations
AreaOfRealEstatePropertyHeldAsCollateralForUnfundedPensionObligations
7000 acre
CY2013Q2 us-gaap Income Tax Examination Liability Recorded
IncomeTaxExaminationLiabilityRecorded
1800000 USD

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