2013 Q1 Form 10-Q Financial Statement

#000114420413029545 Filed on May 15, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $5.156M $6.966M
YoY Change -25.98% -17.3%
Cost Of Revenue $3.898M $5.823M
YoY Change -33.06% 3.5%
Gross Profit $1.258M $1.143M
YoY Change 10.06% -59.13%
Gross Profit Margin 24.4% 16.41%
Selling, General & Admin $1.144M $2.622M
YoY Change -56.37% 28.78%
% of Gross Profit 90.94% 229.4%
Research & Development $123.0K $162.0K
YoY Change -24.07% 45.95%
% of Gross Profit 9.78% 14.17%
Depreciation & Amortization $440.0K $600.0K
YoY Change -26.67% 15.38%
% of Gross Profit 34.98% 52.49%
Operating Expenses $1.267M $2.784M
YoY Change -54.49% 29.67%
Operating Profit -$9.000K -$1.705M
YoY Change -99.47% -362.31%
Interest Expense $163.0K $179.0K
YoY Change -8.94% 6.55%
% of Operating Profit
Other Income/Expense, Net $3.000K $0.00
YoY Change
Pretax Income -$311.0K -$1.884M
YoY Change -83.49% -490.06%
Income Tax
% Of Pretax Income
Net Earnings -$311.0K -$1.884M
YoY Change -83.49% -490.06%
Net Earnings / Revenue -6.03% -27.05%
Basic Earnings Per Share -$0.04 -$0.27
Diluted Earnings Per Share -$0.04 -$0.27
COMMON SHARES
Basic Shares Outstanding 7.657M shares 7.034M shares
Diluted Shares Outstanding 7.657M shares 7.034M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.0K $850.0K
YoY Change -83.53% -20.56%
Cash & Equivalents $140.0K $853.0K
Short-Term Investments
Other Short-Term Assets $190.0K $430.0K
YoY Change -55.81% -24.56%
Inventory $1.653M $1.854M
Prepaid Expenses $194.0K $429.0K
Receivables $2.436M $3.333M
Other Receivables $1.130M $1.320M
Total Short-Term Assets $5.561M $7.790M
YoY Change -28.61% -8.35%
LONG-TERM ASSETS
Property, Plant & Equipment $17.74M $20.33M
YoY Change -12.76% 8.19%
Goodwill $1.383M $1.383M
YoY Change 0.0%
Intangibles $38.00K
YoY Change
Long-Term Investments
YoY Change
Other Assets $51.00K $58.00K
YoY Change -12.07% -71.0%
Total Long-Term Assets $19.23M $21.89M
YoY Change -12.15% 7.08%
TOTAL ASSETS
Total Short-Term Assets $5.561M $7.790M
Total Long-Term Assets $19.23M $21.89M
Total Assets $24.79M $29.68M
YoY Change -16.47% 2.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.659M $2.560M
YoY Change 42.93% 17.43%
Accrued Expenses $1.420M $2.134M
YoY Change -33.46% 20.56%
Deferred Revenue
YoY Change
Short-Term Debt $810.0K $1.100M
YoY Change -26.36% -0.9%
Long-Term Debt Due $5.549M $6.199M
YoY Change -10.49% 425.34%
Total Short-Term Liabilities $14.39M $16.23M
YoY Change -11.34% 50.44%
LONG-TERM LIABILITIES
Long-Term Debt $1.050M
YoY Change -84.09%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $1.050M
YoY Change -100.0% -84.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.39M $16.23M
Total Long-Term Liabilities $0.00 $1.050M
Total Liabilities $14.39M $17.28M
YoY Change -16.71% -0.63%
SHAREHOLDERS EQUITY
Retained Earnings -$14.13M -$11.08M
YoY Change 27.48%
Common Stock $1.880M $1.743M
YoY Change 7.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.791M $12.40M
YoY Change
Total Liabilities & Shareholders Equity $24.79M $29.68M
YoY Change -16.47% 2.55%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$311.0K -$1.884M
YoY Change -83.49% -490.06%
Depreciation, Depletion And Amortization $440.0K $600.0K
YoY Change -26.67% 15.38%
Cash From Operating Activities -$220.0K -$950.0K
YoY Change -76.84% -190.48%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$110.0K
YoY Change -100.0% 175.0%
Acquisitions
YoY Change
Other Investing Activities $20.00K
YoY Change
Cash From Investing Activities $20.00K -$110.0K
YoY Change -118.18% 175.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -380.0K -510.0K
YoY Change -25.49% -57.14%
NET CHANGE
Cash From Operating Activities -220.0K -950.0K
Cash From Investing Activities 20.00K -110.0K
Cash From Financing Activities -380.0K -510.0K
Net Change In Cash -580.0K -1.570M
YoY Change -63.06% 772.22%
FREE CASH FLOW
Cash From Operating Activities -$220.0K -$950.0K
Capital Expenditures $0.00 -$110.0K
Free Cash Flow -$220.0K -$840.0K
YoY Change -73.81% -177.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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2013
dei Document Period End Date
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2013-03-31
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10-Q
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PreferredStockValue
1335000 USD
CY2013Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
194000 USD
CY2012Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
228000 USD
CY2013Q1 us-gaap Selling Expense
SellingExpense
292000 USD
CY2012Q1 us-gaap Selling Expense
SellingExpense
996000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
135000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
10387000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
14434000 USD
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
20000 USD
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
USD
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17736000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18628000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
39000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
46000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
11018000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
14680000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
202000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
311000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
293000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
378000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
208000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
340000 USD
CY2013Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
123000 USD
CY2012Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
162000 USD
us-gaap Restructuring Charges
RestructuringCharges
USD
us-gaap Restructuring Charges
RestructuringCharges
64000 USD
CY2013Q1 us-gaap Restructuring Charges
RestructuringCharges
USD
CY2012Q1 us-gaap Restructuring Charges
RestructuringCharges
64000 USD
CY2013Q1 us-gaap Restructuring Reserve
RestructuringReserve
946000 USD
CY2012Q3 us-gaap Restructuring Reserve
RestructuringReserve
1405000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
98000 USD
us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
557000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14126000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14096000 USD
us-gaap Revenues
Revenues
10960000 USD
us-gaap Revenues
Revenues
14482000 USD
CY2013Q1 us-gaap Revenues
Revenues
5156000 USD
CY2012Q1 us-gaap Revenues
Revenues
6966000 USD
CY2013Q1 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
9492000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2623000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3592000 USD
CY2013Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1489000 USD
CY2012Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1687000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
10960000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
14482000 USD
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
5156000 USD
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
6966000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
8337000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
10890000 USD
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
3667000 USD
CY2012Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
5279000 USD
us-gaap Selling Expense
SellingExpense
662000 USD
us-gaap Selling Expense
SellingExpense
1994000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
73000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
61000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
26000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
24000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
179000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.20
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
502000 shares
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
354000 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.77
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.99
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.35
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.80
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.46
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
9791000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
9590000 USD
us-gaap Stock Issued1
StockIssued1
-40000 USD
us-gaap Stock Issued1
StockIssued1
-61000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
7000 shares
CY2013Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
59000 USD
CY2012Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
18000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
CY2012Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7648000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6989000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7657000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7034000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7648000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6989000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7657000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7034000 shares

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