2020 Q1 Form 10-Q Financial Statement

#000078993320000028 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $37.64M $40.10M
YoY Change -6.12% 28.52%
Cost Of Revenue $32.56M $26.71M
YoY Change 21.9% 3.63%
Gross Profit $5.081M $13.39M
YoY Change -62.04% 146.77%
Gross Profit Margin 13.5% 33.38%
Selling, General & Admin $12.73M $12.65M
YoY Change 0.58% 19.06%
% of Gross Profit 250.48% 94.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.544M $3.813M
YoY Change 19.17% 12.25%
% of Gross Profit 89.43% 28.49%
Operating Expenses $13.50M $13.28M
YoY Change 1.67% 17.98%
Operating Profit $7.580M $16.37M
YoY Change -53.7% 68.43%
Interest Expense $403.0K $231.0K
YoY Change 74.46% -64.24%
% of Operating Profit 5.32% 1.41%
Other Income/Expense, Net -$1.484M $965.0K
YoY Change -253.78% -230.23%
Pretax Income $6.100M $17.30M
YoY Change -64.74% 92.65%
Income Tax -$70.00K $2.320M
% Of Pretax Income -1.15% 13.41%
Net Earnings $6.166M $15.02M
YoY Change -58.94% 83.68%
Net Earnings / Revenue 16.38% 37.45%
Basic Earnings Per Share $0.88 $2.16
Diluted Earnings Per Share $0.88 $2.15
COMMON SHARES
Basic Shares Outstanding 7.000M shares 6.949M shares
Diluted Shares Outstanding 7.040M shares 6.998M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $93.70M $79.10M
YoY Change 18.46% -5.16%
Cash & Equivalents $93.73M $79.06M
Short-Term Investments
Other Short-Term Assets $17.10M $24.00M
YoY Change -28.75% 83.21%
Inventory $36.00M $32.80M
Prepaid Expenses
Receivables $27.50M $28.10M
Other Receivables $14.60M $0.00
Total Short-Term Assets $188.9M $164.0M
YoY Change 15.18% 1.07%
LONG-TERM ASSETS
Property, Plant & Equipment $150.7M $125.8M
YoY Change 19.75% 5.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $27.38M $23.27M
YoY Change 17.69% 24.57%
Other Assets $31.79M $25.08M
YoY Change 26.76% 11.45%
Total Long-Term Assets $247.0M $229.8M
YoY Change 7.5% 8.43%
TOTAL ASSETS
Total Short-Term Assets $188.9M $164.0M
Total Long-Term Assets $247.0M $229.8M
Total Assets $435.9M $393.8M
YoY Change 10.7% 5.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.383M $8.224M
YoY Change 1.93% 0.61%
Accrued Expenses $7.800M $28.50M
YoY Change -72.63% 375.0%
Deferred Revenue $942.0K $718.0K
YoY Change 31.2% -16.51%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $933.0K $573.0K
YoY Change 62.83% -46.99%
Total Short-Term Liabilities $38.11M $49.57M
YoY Change -23.12% 21.38%
LONG-TERM LIABILITIES
Long-Term Debt $22.65M $7.448M
YoY Change 204.1% -78.53%
Other Long-Term Liabilities $7.682M $6.720M
YoY Change 14.32% -50.69%
Total Long-Term Liabilities $30.33M $14.17M
YoY Change 114.08% -70.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.11M $49.57M
Total Long-Term Liabilities $30.33M $14.17M
Total Liabilities $142.1M $129.5M
YoY Change 9.7% -13.25%
SHAREHOLDERS EQUITY
Retained Earnings $289.7M $264.2M
YoY Change 9.64% 16.65%
Common Stock $8.318M $6.573M
YoY Change 26.55% 44.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $293.8M $264.3M
YoY Change
Total Liabilities & Shareholders Equity $435.9M $393.8M
YoY Change 10.7% 5.24%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $6.166M $15.02M
YoY Change -58.94% 83.68%
Depreciation, Depletion And Amortization $4.544M $3.813M
YoY Change 19.17% 12.25%
Cash From Operating Activities -$31.12M -$544.0K
YoY Change 5620.96% -93.22%
INVESTING ACTIVITIES
Capital Expenditures $5.358M $4.252M
YoY Change 26.01% 73.41%
Acquisitions
YoY Change
Other Investing Activities -$16.00K $13.00K
YoY Change -223.08% -104.21%
Cash From Investing Activities -$5.342M -$4.247M
YoY Change 25.78% 103.4%
FINANCING ACTIVITIES
Cash Dividend Paid $1.339M $1.153M
YoY Change 16.13% 0.79%
Common Stock Issuance & Retirement, Net $1.002M $1.300M
YoY Change -22.92%
Debt Paid & Issued, Net $593.0K $161.0K
YoY Change 268.32% -98.04%
Cash From Financing Activities $7.298M -$1.408M
YoY Change -618.32% -82.57%
NET CHANGE
Cash From Operating Activities -$31.12M -$544.0K
Cash From Investing Activities -$5.342M -$4.247M
Cash From Financing Activities $7.298M -$1.408M
Net Change In Cash -$29.17M -$6.199M
YoY Change 370.5% -65.93%
FREE CASH FLOW
Cash From Operating Activities -$31.12M -$544.0K
Capital Expenditures $5.358M $4.252M
Free Cash Flow -$36.48M -$4.796M
YoY Change 660.63% -54.24%

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OperatingExpenses
13504000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
16373000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7580000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
625000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
510000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
13420000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1318000 USD
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1303000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12448000 USD
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12117000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
573000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
571000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11398000 USD
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11081000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0695
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0700
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y5M23D
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
32133000 USD
CY2020Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
31794000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
101000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
155000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-101000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-155000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-24000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
-45000 USD
CY2019Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
24765000 USD
CY2020Q1 us-gaap Other Inventory Supplies
OtherInventorySupplies
25475000 USD
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6979000 USD
CY2020Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6627000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8100000 USD
CY2020Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
7682000 USD
CY2019Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
8807000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-11000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
13000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-16000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1300000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1002000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1153000 USD
CY2020Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1339000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4252000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5358000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
8322000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
6528000 USD
CY2020Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
17068000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1206000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6232000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0 USD
CY2020Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
4000000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
18000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2019Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-101000 USD
CY2020Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-155000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
161000 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
593000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
284852000 USD
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
289679000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
40097000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
37644000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
700000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
900000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
700000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
300000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
100000 USD
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P9M
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2020Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12653000 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12727000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
20000 USD
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
114000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
250704000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
264267000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
289392000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7000000 shares
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
293837000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
1300000 USD
CY2020Q1 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
1002000 USD
CY2019Q4 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
5000000 USD
CY2020Q1 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
5700000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
101000 USD
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
150000 USD
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6998000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7040000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6949000 shares

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