$NAII
NATURAL ALTERNATIVES INTERNATIONAL INC

2019 Q1 Form 10-Q Financial Statement

#000143774919009308 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q2 2018 Q1
Revenue $35.46M $39.21M $31.82M
YoY Change 11.44% 21.81% 26.58%
Cost Of Revenue $29.13M $32.60M $25.11M
YoY Change 16.02% 29.06% 25.42%
Gross Profit $6.327M $6.620M $6.710M
YoY Change -5.71% -4.34% 31.11%
Gross Profit Margin 17.85% 16.88% 21.09%
Selling, General & Admin $4.492M $3.770M $4.187M
YoY Change 7.28% -22.43% 1.5%
% of Gross Profit 71.0% 56.95% 62.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $930.0K $690.0K $740.0K
YoY Change 25.68% 2.99% 13.85%
% of Gross Profit 14.7% 10.42% 11.03%
Operating Expenses $4.492M $3.770M $4.187M
YoY Change 7.28% -22.59% 1.5%
Operating Profit $1.835M $2.850M $2.523M
YoY Change -27.27% 39.02% 154.08%
Interest Expense $630.0K $690.0K $80.00K
YoY Change 687.5% -866.67% 33.33%
% of Operating Profit 34.33% 24.21% 3.17%
Other Income/Expense, Net $622.0K $0.00 $76.00K
YoY Change 718.42% 33.33%
Pretax Income $2.457M $3.540M $2.599M
YoY Change -5.46% 78.79% 147.52%
Income Tax $463.0K $880.0K $548.0K
% Of Pretax Income 18.84% 24.86% 21.09%
Net Earnings $1.994M $2.880M $2.051M
YoY Change -2.78% 88.24% 175.3%
Net Earnings / Revenue 5.62% 7.35% 6.45%
Basic Earnings Per Share $0.29 $0.31
Diluted Earnings Per Share $0.27 $413.8K $0.30
COMMON SHARES
Basic Shares Outstanding 6.800M 6.639M
Diluted Shares Outstanding 7.395M 6.909M

Balance Sheet

Concept 2019 Q1 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.70M $23.60M $27.60M
YoY Change 0.36% -15.11% 22.12%
Cash & Equivalents $27.66M $23.61M $27.62M
Short-Term Investments
Other Short-Term Assets $4.900M $1.900M $1.800M
YoY Change 172.22% 26.67% -33.33%
Inventory $27.02M $23.57M $23.79M
Prepaid Expenses
Receivables $16.79M $14.62M $11.33M
Other Receivables $0.00 $1.500M $1.600M
Total Short-Term Assets $76.29M $65.18M $66.07M
YoY Change 15.46% 26.08% 34.32%
LONG-TERM ASSETS
Property, Plant & Equipment $20.88M $19.29M $18.83M
YoY Change 10.89% 6.36% 5.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.286M $734.0K $749.0K
YoY Change 71.7% -5.17% -4.1%
Total Long-Term Assets $22.17M $20.02M $22.02M
YoY Change 0.65% -4.25% 5.9%
TOTAL ASSETS
Total Short-Term Assets $76.29M $65.18M $66.07M
Total Long-Term Assets $22.17M $20.02M $22.02M
Total Assets $98.46M $85.21M $88.10M
YoY Change 11.76% 17.35% 25.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.37M $9.649M $13.80M
YoY Change -10.33% 88.6% 238.79%
Accrued Expenses $3.612M $2.346M $2.323M
YoY Change 55.49% -0.3% -1.86%
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 $18.21M $14.28M $20.81M
YoY Change -12.48% 39.05% 140.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $634.0K $601.0K $4.400M
YoY Change -85.59% 507.07% 384.58%
Total Long-Term Liabilities $634.0K $601.0K $4.400M
YoY Change -85.59% 507.07% 384.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.21M $14.28M $20.81M
Total Long-Term Liabilities $634.0K $601.0K $4.400M
Total Liabilities $21.43M $16.96M $25.26M
YoY Change -15.17% 47.95% 150.73%
SHAREHOLDERS EQUITY
Retained Earnings $57.57M $50.84M $47.96M
YoY Change 20.06% 11.03% 8.36%
Common Stock $87.00K $85.00K $85.00K
YoY Change 2.35% 7.59% 7.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.529M $6.584M $6.579M
YoY Change 14.44% 8.4% 8.31%
Treasury Stock Shares $1.593M $1.098M $1.088M
Shareholders Equity $77.03M $68.25M $62.84M
YoY Change
Total Liabilities & Shareholders Equity $98.46M $85.21M $88.10M
YoY Change 11.76% 17.35% 25.88%

Cashflow Statement

Concept 2019 Q1 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $1.994M $2.880M $2.051M
YoY Change -2.78% 88.24% 175.3%
Depreciation, Depletion And Amortization $930.0K $690.0K $740.0K
YoY Change 25.68% 2.99% 13.85%
Cash From Operating Activities -$610.0K -$2.860M $30.00K
YoY Change -2133.33% -145.61% -98.94%
INVESTING ACTIVITIES
Capital Expenditures -$1.490M -$1.140M -$840.0K
YoY Change 77.38% 11.76% -13.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $10.00K
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.490M -$1.140M -$840.0K
YoY Change 77.38% 11.76% -13.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -510.0K 0.000 -420.0K
YoY Change 21.43% -33.33%
NET CHANGE
Cash From Operating Activities -610.0K -2.860M 30.00K
Cash From Investing Activities -1.490M -1.140M -840.0K
Cash From Financing Activities -510.0K 0.000 -420.0K
Net Change In Cash -2.610M -4.000M -1.230M
YoY Change 112.2% -176.19% -200.0%
FREE CASH FLOW
Cash From Operating Activities -$610.0K -$2.860M $30.00K
Capital Expenditures -$1.490M -$1.140M -$840.0K
Free Cash Flow $880.0K -$1.720M $870.0K
YoY Change 1.15% -123.59% -77.11%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2019Q1 naii Royalty And Licensing Revenue
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us-gaap Concentration Risk Credit Risk
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><div style="display: inline; font-weight: bold;">Concentrations of Credit Risk </div></div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and cash equivalents with highly rated financial institutions. Credit risk with respect to receivables is concentrated with our <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> largest customers, whose receivable balances collectively represented <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.0%</div> of gross accounts receivable at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2019 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">76.6%</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> Additionally, amounts due related to our beta-alanine raw material sales were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.9%</div> of gross accounts receivable at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2019, </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.3%</div> of gross accounts receivable at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30, 2018. </div>Concentrations of credit risk related to the remaining accounts receivable balances are limited due to the number of customers comprising our remaining customer base.</div></div></div>
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