2015 Q3 Form 10-Q Financial Statement

#000127515815000069 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q4 2014 Q3
Revenue $117.3M $108.5M $117.3M
YoY Change 0.0% 2.19% 17.97%
Cost Of Revenue $85.60M $74.40M $67.90M
YoY Change 26.07% 22.37% 13.17%
Gross Profit $31.70M $34.20M $31.60M
YoY Change 0.32% 21.71% 7.85%
Gross Profit Margin 27.02% 31.51% 26.93%
Selling, General & Admin $23.40M $21.20M $19.50M
YoY Change 20.0% 24.71% -15.22%
% of Gross Profit 73.82% 61.99% 61.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.117M $6.820M $6.454M
YoY Change 10.27% 30.2% 28.18%
% of Gross Profit 22.45% 19.94% 20.42%
Operating Expenses $30.50M $28.00M $25.40M
YoY Change 20.08% 25.56% -9.29%
Operating Profit -$15.30M $5.474M -$15.30M
YoY Change 0.0% 8.5% -357.57%
Interest Expense $391.0K -$200.0K $112.0K
YoY Change 249.11% -251.52% -88.95%
% of Operating Profit -3.65%
Other Income/Expense, Net
YoY Change
Pretax Income -$15.69M $5.300M $4.933M
YoY Change -418.12% -2.72% -6506.49%
Income Tax -$5.872M $1.700M $1.990M
% Of Pretax Income 32.08% 40.34%
Net Earnings -$9.821M $3.535M -$9.821M
YoY Change 0.0% 20.12% -378.45%
Net Earnings / Revenue -8.37% 3.26% -8.37%
Basic Earnings Per Share -$0.35 $0.12 -$0.35
Diluted Earnings Per Share -$0.35 $0.11 -$0.35
COMMON SHARES
Basic Shares Outstanding 28.25M shares 29.76M shares
Diluted Shares Outstanding 28.25M shares 30.89M shares

Balance Sheet

Concept 2015 Q3 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.000M $1.900M $700.0K
YoY Change 185.71% 216.67% 16.67%
Cash & Equivalents $2.016M $1.906M $2.248M
Short-Term Investments
Other Short-Term Assets $7.800M $139.0K $6.100M
YoY Change 27.87% 85.33% 10417.24%
Inventory $10.38M $9.415M $9.154M
Prepaid Expenses
Receivables $3.867M $4.557M $3.910M
Other Receivables $0.00 $600.0K $0.00
Total Short-Term Assets $24.10M $22.78M $22.00M
YoY Change 9.53% 24.23% 27.35%
LONG-TERM ASSETS
Property, Plant & Equipment $198.1M $205.6M $195.1M
YoY Change 1.53% 22.65% 30.16%
Goodwill $6.400M $6.400M $6.543M
YoY Change -2.19%
Intangibles $1.956M $1.927M $1.789M
YoY Change 9.33% 449.0%
Long-Term Investments
YoY Change
Other Assets $2.314M $1.863M $2.079M
YoY Change 11.3% 23.87% 17.92%
Total Long-Term Assets $210.1M $215.8M $205.5M
YoY Change 2.22% 27.32% 33.1%
TOTAL ASSETS
Total Short-Term Assets $24.10M $22.78M $22.00M
Total Long-Term Assets $210.1M $215.8M $205.5M
Total Assets $234.2M $238.5M $227.5M
YoY Change 2.93% 27.02% 32.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.26M $10.87M $11.71M
YoY Change -3.84% 33.04% 31.92%
Accrued Expenses $10.18M $8.560M $12.94M
YoY Change -21.33% 10.49% 72.1%
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 $32.25M $25.83M $32.00M
YoY Change 0.78% 6.89% 30.9%
LONG-TERM LIABILITIES
Long-Term Debt $60.40M $27.14M $21.50M
YoY Change 180.95% 329.91% 10286.47%
Other Long-Term Liabilities $3.512M $3.447M $4.619M
YoY Change -23.97% 20.52% 96.47%
Total Long-Term Liabilities $63.92M $30.58M $26.12M
YoY Change 144.71% 233.44% 921.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.25M $25.83M $32.00M
Total Long-Term Liabilities $63.92M $30.58M $26.12M
Total Liabilities $136.7M $98.42M $91.86M
YoY Change 48.79% 55.42% 75.14%
SHAREHOLDERS EQUITY
Retained Earnings $12.23M $21.74M $18.20M
YoY Change -32.83% 110.87% 292.71%
Common Stock $301.0K $298.0K $298.0K
YoY Change 1.01% 1.02% 1.36%
Preferred Stock
YoY Change
Treasury Stock (at cost) $35.00M $2.848M -$2.848M
YoY Change -1328.93% 2.56%
Treasury Stock Shares 474.8K shares 67.59K shares 67.59K shares
Shareholders Equity $97.50M $140.1M $135.7M
YoY Change
Total Liabilities & Shareholders Equity $234.2M $238.5M $227.5M
YoY Change 2.93% 27.02% 32.52%

Cashflow Statement

Concept 2015 Q3 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income -$9.821M $3.535M -$9.821M
YoY Change 0.0% 20.12% -378.45%
Depreciation, Depletion And Amortization $7.117M $6.820M $6.454M
YoY Change 10.27% 30.2% 28.18%
Cash From Operating Activities $15.23M $11.58M $8.850M
YoY Change 72.09% -9.03% -24.81%
INVESTING ACTIVITIES
Capital Expenditures -$13.76M -$16.41M -$12.95M
YoY Change 6.25% 16.05% 5.2%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$2.090M -$13.62M
YoY Change -100.0%
Cash From Investing Activities -$13.75M -$18.49M -$12.95M
YoY Change 6.18% 30.76% 5.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.380M 6.580M 4.140M
YoY Change -133.33% 380.29% 2200.0%
NET CHANGE
Cash From Operating Activities 15.23M 11.58M 8.850M
Cash From Investing Activities -13.75M -18.49M -12.95M
Cash From Financing Activities -1.380M 6.580M 4.140M
Net Change In Cash 100.0K -330.0K 40.00K
YoY Change 150.0% 725.0% -111.11%
FREE CASH FLOW
Cash From Operating Activities $15.23M $11.58M $8.850M
Capital Expenditures -$13.76M -$16.41M -$12.95M
Free Cash Flow $28.99M $27.99M $21.80M
YoY Change 32.98% 4.17% -9.47%

Facts In Submission

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CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1927000 USD
CY2015Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
60404000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17393000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1440000 USD
CY2015Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1956000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
112000 USD
us-gaap Interest Expense
InterestExpense
168000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
391000 USD
us-gaap Interest Expense
InterestExpense
818000 USD
us-gaap Interest Paid Net
InterestPaidNet
81000 USD
us-gaap Interest Paid Net
InterestPaidNet
445000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
9415000 USD
CY2015Q3 us-gaap Inventory Net
InventoryNet
10381000 USD
CY2015Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
98788000 USD
CY2015Q3 us-gaap Liabilities
Liabilities
136680000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
238903000 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
234180000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
25831000 USD
CY2015Q3 us-gaap Liabilities Current
LiabilitiesCurrent
32250000 USD
CY2015Q3 us-gaap Line Of Credit
LineOfCredit
60400000 USD
CY2015Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
11800000 USD
CY2015Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
45000000 USD
CY2015Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
75000000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
27500000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53566000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36244000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37453000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37886000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
2943000 USD
us-gaap Net Income Loss
NetIncomeLoss
7894000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-9821000 USD
us-gaap Net Income Loss
NetIncomeLoss
-9511000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2015Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
35 state
CY2014Q3 us-gaap Occupancy Net
OccupancyNet
11004000 USD
us-gaap Occupancy Net
OccupancyNet
31114000 USD
CY2015Q3 us-gaap Occupancy Net
OccupancyNet
12911000 USD
us-gaap Occupancy Net
OccupancyNet
37609000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5045000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
13442000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-15302000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-14604000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2227000 USD
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2314000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
0 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
0 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
-80000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
-92000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
0 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
80000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
92000 USD
CY2014Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
14532000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
38981000 USD
CY2015Q3 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
17003000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
46878000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3447000 USD
CY2015Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3512000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
138000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
13623000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
628000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39943000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35616000 USD
CY2014Q3 us-gaap Pre Opening Costs
PreOpeningCosts
1142000 USD
us-gaap Pre Opening Costs
PreOpeningCosts
3282000 USD
CY2015Q3 us-gaap Pre Opening Costs
PreOpeningCosts
1108000 USD
us-gaap Pre Opening Costs
PreOpeningCosts
3150000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6271000 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7834000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
211326000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
328008000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-60000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-25000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2336000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
-2029000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
334900000 USD
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
338313000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
205573000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
198098000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
196138000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
295104000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
21736000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
12226000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
106216000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
295195000 USD
CY2015Q3 us-gaap Sales Revenue Net
SalesRevenueNet
117328000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
338322000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1028000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1036000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
140115000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
97500000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
67586 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
474826 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2848000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
35000000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30893904 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31042443 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28253859 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29349061 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29757820 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29689342 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28253859 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29349061 shares

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