2013 Q3 Form 10-Q Financial Statement

#000119312513324901 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q2
Revenue $20.11M $18.22M $14.03M
YoY Change 29.75% 29.83%
Cost Of Revenue $7.944M $7.696M $5.989M
YoY Change 22.5% 28.5%
Gross Profit $12.17M $10.52M $8.043M
YoY Change 34.97% 30.82%
Gross Profit Margin 60.5% 57.76% 57.32%
Selling, General & Admin $14.96M $14.38M $10.54M
YoY Change 26.44% 36.42%
% of Gross Profit 122.95% 136.63% 131.02%
Research & Development $5.072M $4.904M $3.078M
YoY Change 40.65% 59.32%
% of Gross Profit 41.68% 46.61% 38.27%
Depreciation & Amortization $2.080M $1.370M $720.0K
YoY Change 98.1% 90.28%
% of Gross Profit 17.09% 13.02% 8.95%
Operating Expenses $20.03M $19.28M $13.62M
YoY Change 29.76% 41.6%
Operating Profit -$7.865M -$8.758M -$5.573M
YoY Change 22.45% 57.15%
Interest Expense -$80.00K -$110.0K -$100.0K
YoY Change -42.86% 10.0%
% of Operating Profit
Other Income/Expense, Net -$16.00K -$81.00K -$94.00K
YoY Change -36.0% -13.83%
Pretax Income -$7.963M -$8.948M -$5.769M
YoY Change 20.93% 55.1%
Income Tax $230.0K $149.0K $55.00K
% Of Pretax Income
Net Earnings -$8.193M -$9.097M -$5.824M
YoY Change 23.24% 56.2%
Net Earnings / Revenue -40.73% -49.93% -41.51%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.761M -$1.974M -$9.541M
COMMON SHARES
Basic Shares Outstanding 32.48M shares 32.59M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $111.7M $120.6M
YoY Change 557.06%
Cash & Equivalents $111.7M $120.6M $25.35M
Short-Term Investments
Other Short-Term Assets $3.500M $3.300M
YoY Change 66.67%
Inventory
Prepaid Expenses
Receivables $13.89M $12.35M
Other Receivables $0.00 $0.00
Total Short-Term Assets $129.1M $136.3M
YoY Change 311.1%
LONG-TERM ASSETS
Property, Plant & Equipment $14.27M $13.43M
YoY Change 67.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $447.0K $397.0K
YoY Change 11.75%
Total Long-Term Assets $14.72M $13.82M
YoY Change 65.36%
TOTAL ASSETS
Total Short-Term Assets $129.1M $136.3M
Total Long-Term Assets $14.72M $13.82M
Total Assets $143.8M $150.1M
YoY Change 256.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.148M $1.570M
YoY Change -18.0%
Accrued Expenses $11.00M $10.60M
YoY Change 41.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.373M $2.782M
YoY Change -60.32%
Total Short-Term Liabilities $18.42M $18.75M
YoY Change 1.76%
LONG-TERM LIABILITIES
Long-Term Debt $3.673M $3.066M
YoY Change 144.87%
Other Long-Term Liabilities $1.338M $1.496M
YoY Change -21.29%
Total Long-Term Liabilities $5.011M $4.562M
YoY Change 56.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.42M $18.75M
Total Long-Term Liabilities $5.011M $4.562M
Total Liabilities $23.43M $23.31M
YoY Change 10.0%
SHAREHOLDERS EQUITY
Retained Earnings -$105.1M -$96.95M
YoY Change
Common Stock $33.00K $32.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $120.4M $126.8M
YoY Change
Total Liabilities & Shareholders Equity $143.8M $150.1M
YoY Change 256.83%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$8.193M -$9.097M -$5.824M
YoY Change 23.24% 56.2%
Depreciation, Depletion And Amortization $2.080M $1.370M $720.0K
YoY Change 98.1% 90.28%
Cash From Operating Activities -$7.470M -$4.440M -$5.270M
YoY Change 35.82% -15.75%
INVESTING ACTIVITIES
Capital Expenditures -$1.950M -$2.860M -$2.050M
YoY Change -14.47% 39.51%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.950M -$2.860M -$2.050M
YoY Change -14.47% 39.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 530.0K 12.39M 5.690M
YoY Change -191.38% 117.75%
NET CHANGE
Cash From Operating Activities -7.470M -4.440M -5.270M
Cash From Investing Activities -1.950M -2.860M -2.050M
Cash From Financing Activities 530.0K 12.39M 5.690M
Net Change In Cash -8.890M 5.090M -1.630M
YoY Change 6.34% -412.27%
FREE CASH FLOW
Cash From Operating Activities -$7.470M -$4.440M -$5.270M
Capital Expenditures -$1.950M -$2.860M -$2.050M
Free Cash Flow -$5.520M -$1.580M -$3.220M
YoY Change 71.43% -50.93%

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mrin Conversion Of Preferred Stock Warrant To Common Stock Warrant
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mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Yield
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P2Y10M24D
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P6Y10M13D
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0.070 pure
mrin Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term Two Exercised
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mrin Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Term Two Granted
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P9Y7M21D
mrin Noncash Interest Expense On Warrants
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mrin Unpaid Deferred Offering Costs
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us-gaap Common Stock Conversion Basis
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P6Y3M
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OperatingExpenses
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mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Yield
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pure
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mrin Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
540000
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mrin Proceeds From Common Stock Purchase Agreement And Options Exercised
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mrin Pre Tax Income Loss
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mrin Noncash Interest Expense On Warrants
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CY2013Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1125000 shares
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CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M10D
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0.0102 pure
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
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WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4261000 shares
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EarningsPerShareBasicAndDiluted
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Revenues
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InterestIncomeExpenseNet
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CapitalizedComputerSoftwareAmortization
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ComprehensiveIncomeNetOfTax
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GrossProfit
8043000
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OtherNonoperatingIncomeExpense
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CY2012Q2 us-gaap Net Income Loss
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CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.558 pure
CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2013Q2 mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Yield
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendYield
pure
CY2013Q2 mrin Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
0.070 pure

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