$MLSS
MILESTONE SCIENTIFIC INC.

2014 Q3 Form 10-Q Financial Statement

#000156459014005667 Filed on November 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3 2013
Revenue $2.535M $2.444M $10.01M
YoY Change 3.72% 14.79% 15.76%
Cost Of Revenue $830.0K $677.8K $3.199M
YoY Change 22.46% 8.32% 4.68%
Gross Profit $1.706M $1.766M $6.813M
YoY Change -3.44% 17.48% 21.82%
Gross Profit Margin 67.28% 72.27% 68.05%
Selling, General & Admin $1.838M $1.317M $5.530M
YoY Change 39.54% -5.32% -6.75%
% of Gross Profit 107.79% 74.58% 81.17%
Research & Development $29.37K $12.70K $191.3K
YoY Change 131.3% -78.96% 6.3%
% of Gross Profit 1.72% 0.72% 2.81%
Depreciation & Amortization $20.00K $20.00K $18.18K
YoY Change 0.0% 0.0% -3.4%
% of Gross Profit 1.17% 1.13% 0.27%
Operating Expenses $1.868M $1.330M $5.726M
YoY Change 40.42% -8.39% -6.33%
Operating Profit -$162.2K $436.3K $1.465M
YoY Change -137.18% 744.72% -381.53%
Interest Expense $755.00 $5.550K $70.80K
YoY Change -86.4% -84.79% -59.75%
% of Operating Profit 1.27% 4.83%
Other Income/Expense, Net $0.00 $217.7K $378.2K
YoY Change -100.0% 496.62% 8.08%
Pretax Income -$358.5K $220.0K $1.465M
YoY Change -262.95% 1000.0% -268.38%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$358.5K $218.5K $1.465M
YoY Change -264.05% 1342.4% -268.32%
Net Earnings / Revenue -14.14% 8.94% 14.63%
Basic Earnings Per Share -$0.02 $0.01 $0.09
Diluted Earnings Per Share -$0.02 $0.01 $0.08
COMMON SHARES
Basic Shares Outstanding 21.19M 17.33M 17.13M
Diluted Shares Outstanding 21.19M 17.72M 17.48M

Balance Sheet

Concept 2014 Q3 2013 Q3 2013
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.28M $400.0K $1.150M
YoY Change 2470.0% 48.15% 576.47%
Cash & Equivalents $10.28M $401.8K $1.150M
Short-Term Investments $9.500M
Other Short-Term Assets $370.0K $120.0K $150.0K
YoY Change 208.33% -20.0% -37.5%
Inventory $3.330M $1.380M $2.050M
Prepaid Expenses
Receivables $1.620M $1.570M $1.530M
Other Receivables $0.00 $130.0K $0.00
Total Short-Term Assets $15.61M $3.600M $4.880M
YoY Change 333.61% 27.21% 95.2%
LONG-TERM ASSETS
Property, Plant & Equipment $77.99K $30.00K $20.00K
YoY Change 159.98% -25.0% -50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $820.0K $50.00K $970.0K
YoY Change 1540.0%
Other Assets $12.92K $10.00K $10.00K
YoY Change 29.17% -87.5% 0.0%
Total Long-Term Assets $1.660M $2.750M $3.180M
YoY Change -39.64% -11.29% 0.63%
TOTAL ASSETS
Total Short-Term Assets $15.61M $3.600M $4.880M
Total Long-Term Assets $1.660M $2.750M $3.180M
Total Assets $17.27M $6.350M $8.060M
YoY Change 171.97% 7.08% 42.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.341M $1.810M $2.020M
YoY Change -25.92% -30.65% -13.68%
Accrued Expenses $610.0K $0.00 $520.0K
YoY Change -100.0% 44.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.001M $2.550M $2.540M
YoY Change -21.54% -27.56% -22.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.001M $2.550M $2.540M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.000M $2.554M $2.540M
YoY Change -21.68% -35.68% -31.72%
SHAREHOLDERS EQUITY
Retained Earnings -$60.60M -$61.29M
YoY Change -1.12%
Common Stock $65.99M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $911.5K $911.5K
YoY Change 0.0%
Treasury Stock Shares $33.33K $33.33K
Shareholders Equity $15.27M $3.794M $5.520M
YoY Change
Total Liabilities & Shareholders Equity $17.27M $6.348M $8.060M
YoY Change 172.07% 7.04% 42.4%

Cashflow Statement

Concept 2014 Q3 2013 Q3 2013
OPERATING ACTIVITIES
Net Income -$358.5K $218.5K $1.465M
YoY Change -264.05% 1342.4% -268.32%
Depreciation, Depletion And Amortization $20.00K $20.00K $18.18K
YoY Change 0.0% 0.0% -3.4%
Cash From Operating Activities -$170.0K $430.0K $1.260M
YoY Change -139.53% 168.75% -2634.29%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K $0.00 $5.539K
YoY Change -100.0% -118.46%
Acquisitions
YoY Change
Other Investing Activities $9.280M -$210.0K -$530.0K
YoY Change -4519.05%
Cash From Investing Activities $9.240M -$210.0K -$561.4K
YoY Change -4500.0% 2000.0% 1771.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $200.0K
YoY Change 33.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K 10.00K 280.0K
YoY Change 900.0% 86.67%
NET CHANGE
Cash From Operating Activities -170.0K 430.0K 1.260M
Cash From Investing Activities 9.240M -210.0K -561.4K
Cash From Financing Activities 100.0K 10.00K 280.0K
Net Change In Cash 9.170M 230.0K -561.4K
YoY Change 3886.96% 53.33% 1029.14%
FREE CASH FLOW
Cash From Operating Activities -$170.0K $430.0K $1.260M
Capital Expenditures -$50.00K $0.00 $5.539K
Free Cash Flow -$120.0K $430.0K $1.254M
YoY Change -127.91% 152.94% -6462.01%

Facts In Submission

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CY2013Q4 mlss Accounts Receivable Net Current And Noncurrent
AccountsReceivableNetCurrentAndNoncurrent
732762
CY2014Q3 mlss Number Of Customers
NumberOfCustomers
2
CY2013Q3 mlss Number Of Customers
NumberOfCustomers
3
mlss Number Of Customers
NumberOfCustomers
2
mlss Number Of Customers
NumberOfCustomers
4
mlss Number Of Major Customers
NumberOfMajorCustomers
2
CY2013 mlss Number Of Major Customers
NumberOfMajorCustomers
3
CY2014Q1 us-gaap Payments For Postemployment Benefits
PaymentsForPostemploymentBenefits
203111
CY2014Q1 mlss Define Benefit Plan Payment Period
DefineBenefitPlanPaymentPeriod
P5Y
CY2014Q3 us-gaap Pension Expense
PensionExpense
50778
us-gaap Pension Expense
PensionExpense
118481
mlss Defined Benefit Plan Installment Payment Period
DefinedBenefitPlanInstallmentPaymentPeriod
2014-07
mlss Additional Payment To Director As Percentage Of Sales Value Using Certain Specify Technology
AdditionalPaymentToDirectorAsPercentageOfSalesValueUsingCertainSpecifyTechnology
0.025
mlss Additional Payment To Director As Percentage Of Sales Value Using Other Kind Of Technology
AdditionalPaymentToDirectorAsPercentageOfSalesValueUsingOtherKindOfTechnology
0.05
mlss Consulting Fees To Director
ConsultingFeesToDirector
39390
mlss Consulting Fees To Director
ConsultingFeesToDirector
90350
CY2014Q3 mlss Consulting Fees To Director
ConsultingFeesToDirector
14690
CY2013Q3 mlss Consulting Fees To Director
ConsultingFeesToDirector
12350
CY2010Q1 us-gaap Long Term Purchase Commitment Minimum Quantity Required
LongTermPurchaseCommitmentMinimumQuantityRequired
12000
CY2010Q1 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
5261640
CY2014Q3 mlss Number Of Instrument Remaining On Purchase Order
NumberOfInstrumentRemainingOnPurchaseOrder
3420
CY2013Q3 mlss Shareholder Agreement Period
ShareholderAgreementPeriod
P3Y
CY2013Q3 us-gaap Servicing Fees
ServicingFees
100000

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