$NRC
NATIONAL RESEARCH CORP

2018 Q3 Form 10-Q Financial Statement

#000143774918020006 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $30.01M $28.95M
YoY Change 3.67% 7.1%
Cost Of Revenue $11.78M $12.27M
YoY Change -3.99% 6.97%
Gross Profit $18.23M $16.68M
YoY Change 9.29% 7.2%
Gross Profit Margin 60.74% 57.61%
Selling, General & Admin $7.679M $8.430M
YoY Change -8.91% 18.08%
% of Gross Profit 42.12% 50.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.390M $1.140M
YoY Change 21.93% 4.59%
% of Gross Profit 7.62% 6.83%
Operating Expenses $20.85M $21.83M
YoY Change -4.5% 10.85%
Operating Profit $9.166M $7.122M
YoY Change 28.7% -2.96%
Interest Expense $544.0K $18.00K
YoY Change 2922.22% -52.63%
% of Operating Profit 5.93% 0.25%
Other Income/Expense, Net -$783.0K $51.00K
YoY Change -1635.29% -270.0%
Pretax Income $8.383M $7.173M
YoY Change 16.87% -1.86%
Income Tax $1.391M $3.020M
% Of Pretax Income 16.59% 42.1%
Net Earnings $6.992M $4.153M
YoY Change 68.36% -12.18%
Net Earnings / Revenue 23.3% 14.34%
Basic Earnings Per Share
Diluted Earnings Per Share $273.8K $163.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.300M $35.80M
YoY Change -79.61% 23.88%
Cash & Equivalents $7.273M $35.75M
Short-Term Investments
Other Short-Term Assets $278.0K $65.00K
YoY Change 327.69% -19.75%
Inventory
Prepaid Expenses $3.674M $3.075M
Receivables $16.54M $13.59M
Other Receivables $1.000M $0.00
Total Short-Term Assets $28.77M $53.82M
YoY Change -46.55% 17.22%
LONG-TERM ASSETS
Property, Plant & Equipment $14.27M $12.09M
YoY Change 18.03% 3.69%
Goodwill $57.96M $58.04M
YoY Change -0.14% 0.21%
Intangibles $2.260M $2.932M
YoY Change -22.92% -10.36%
Long-Term Investments
YoY Change
Other Assets $2.092M $1.861M
YoY Change 12.41% 243.99%
Total Long-Term Assets $79.95M $74.92M
YoY Change 6.71% 2.09%
TOTAL ASSETS
Total Short-Term Assets $28.77M $53.82M
Total Long-Term Assets $79.95M $74.92M
Total Assets $108.7M $128.7M
YoY Change -15.55% 7.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $839.0K $548.0K
YoY Change 53.1% -22.27%
Accrued Expenses $3.266M $3.122M
YoY Change 4.61% -0.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.800M $1.800M
YoY Change 111.11% -28.0%
Total Short-Term Liabilities $35.44M $34.17M
YoY Change 3.72% 9.75%
LONG-TERM LIABILITIES
Long-Term Debt $35.11M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.433M $874.0K
YoY Change 63.96% 56.35%
Total Long-Term Liabilities $36.54M $874.0K
YoY Change 4081.01% 56.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.44M $34.17M
Total Long-Term Liabilities $36.54M $874.0K
Total Liabilities $78.58M $39.90M
YoY Change 96.96% 4.78%
SHAREHOLDERS EQUITY
Retained Earnings -$97.03M $75.28M
YoY Change -228.89% 7.55%
Common Stock $156.4M $50.12M
YoY Change 212.07% 8.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $27.20M $35.06M
YoY Change -22.43% 6.78%
Treasury Stock Shares $5.068M
Shareholders Equity $30.14M $88.84M
YoY Change
Total Liabilities & Shareholders Equity $108.7M $128.7M
YoY Change -15.55% 7.91%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $6.992M $4.153M
YoY Change 68.36% -12.18%
Depreciation, Depletion And Amortization $1.390M $1.140M
YoY Change 21.93% 4.59%
Cash From Operating Activities $7.550M $10.86M
YoY Change -30.48% 59.94%
INVESTING ACTIVITIES
Capital Expenditures -$2.090M -$1.210M
YoY Change 72.73% 42.35%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.300M
YoY Change -100.0%
Cash From Investing Activities -$2.090M -$2.510M
YoY Change -16.73% 195.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.130M -4.660M
YoY Change 10.09% 15.06%
NET CHANGE
Cash From Operating Activities 7.550M 10.86M
Cash From Investing Activities -2.090M -2.510M
Cash From Financing Activities -5.130M -4.660M
Net Change In Cash 330.0K 3.690M
YoY Change -91.06% 95.24%
FREE CASH FLOW
Cash From Operating Activities $7.550M $10.86M
Capital Expenditures -$2.090M -$1.210M
Free Cash Flow $9.640M $12.07M
YoY Change -20.13% 57.98%

Facts In Submission

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CY2017Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
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CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
19776000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
5171000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4916000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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4418000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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3715000
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901000
CY2018Q3 us-gaap Long Term Debt Noncurrent
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35109000
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LongTermDebtNoncurrent
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35109000
CY2017Q4 us-gaap Long Term Notes Payable
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CY2018Q3 us-gaap Loss Contingency Accrual At Carrying Value
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0
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-48193000
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4858000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4897000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25936000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21480000
CY2018Q3 us-gaap Net Income Loss
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6992000
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NetIncomeLoss
22246000
us-gaap Net Income Loss
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16426000
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us-gaap Nonoperating Income Expense
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us-gaap Number Of Operating Segments
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6
us-gaap Number Of Operating Segments
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6
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1
us-gaap Number Of Reportable Segments
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1
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
20847000
us-gaap Operating Expenses
OperatingExpenses
63167000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
21829000
us-gaap Operating Expenses
OperatingExpenses
62103000
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OperatingIncomeLoss
9166000
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OperatingIncomeLoss
25880000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7122000
us-gaap Operating Income Loss
OperatingIncomeLoss
25558000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
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3000000
CY2018Q3 us-gaap Other Assets Current
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278000
CY2017Q4 us-gaap Other Assets Current
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35000
CY2018Q3 us-gaap Other Assets Noncurrent
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2092000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1913000
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
280000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-418000
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
599000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1098000
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
280000
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
599000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-418000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1098000
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1433000
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
935000
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-242000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
40000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
222000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
76000
us-gaap Payments Of Debt Issuance Costs
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187000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
12650000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
12649000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
712000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
105000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
250000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1300000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4858000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3347000
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2018Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3674000
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2310000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2500000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
40000000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
578000
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
144000
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
370000
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
28951000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
87661000
us-gaap Revenue Practical Expedient Remaining Performance Obligation
RevenuePracticalExpedientRemainingPerformanceObligation
true
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
45094000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40206000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14269000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12359000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2500000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
104000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
81000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2170000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1847000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-97027000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
77574000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
30013000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
89047000
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
64000
CY2018Q3 us-gaap Secured Debt Current
SecuredDebtCurrent
3623000
CY2017Q4 us-gaap Secured Debt Current
SecuredDebtCurrent
1067000
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7679000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23486000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8430000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22021000
us-gaap Share Based Compensation
ShareBasedCompensation
1254000
us-gaap Share Based Compensation
ShareBasedCompensation
1273000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5429000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
30139000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
90041000
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
5068095
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4898527
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
27195000
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
36953000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
6141000

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