2013 Q4 Form 10-Q Financial Statement

#000119312513438277 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.980M $2.260M $8.090M
YoY Change -78.2% -72.06% 2351.52%
% of Gross Profit
Research & Development $13.01M $12.07M $17.78M
YoY Change 57.13% -32.12%
% of Gross Profit
Depreciation & Amortization $120.0K $110.0K $70.00K
YoY Change 50.0% 57.14%
% of Gross Profit
Operating Expenses $15.99M $14.33M $25.87M
YoY Change -27.15% -44.61% 7647.94%
Operating Profit -$14.33M -$25.87M
YoY Change -44.61% 7647.94%
Interest Expense $40.00K $10.00K $10.00K
YoY Change 0.0% 0.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $48.00K $14.00K
YoY Change 242.86% -203.7%
Pretax Income -$15.95M -$14.28M -$25.86M
YoY Change -27.2% -44.78% 7288.57%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$15.95M -$14.28M -$25.86M
YoY Change -27.23% -44.77% 7342.85%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$554.8K -$497.9K -$1.290M
COMMON SHARES
Basic Shares Outstanding 28.69M shares 28.68M shares 20.04M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.90M $95.60M $33.30M
YoY Change -38.94% 187.09%
Cash & Equivalents $43.04M $51.26M $33.35M
Short-Term Investments $40.90M $44.40M
Other Short-Term Assets $2.600M $3.600M $800.0K
YoY Change 160.0% 350.0%
Inventory
Prepaid Expenses
Receivables $9.800M $11.30M
Other Receivables $9.813M $11.29M
Total Short-Term Assets $96.40M $110.6M $34.12M
YoY Change -35.29% 224.11%
LONG-TERM ASSETS
Property, Plant & Equipment $1.684M $1.619M $1.169M
YoY Change 13.86% 38.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.300M $2.900M $1.200M
YoY Change 425.0% 141.67%
Total Long-Term Assets $7.978M $4.533M $2.381M
YoY Change 192.56% 90.4%
TOTAL ASSETS
Total Short-Term Assets $96.40M $110.6M $34.12M
Total Long-Term Assets $7.978M $4.533M $2.381M
Total Assets $104.4M $115.1M $36.50M
YoY Change -31.2% 215.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.69M $9.730M $1.018M
YoY Change 2118.26% 855.75% 409.03%
Accrued Expenses $8.579M $9.496M $25.64M
YoY Change -59.57% -62.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.27M $19.23M $26.66M
YoY Change -11.2% -27.88% 6564.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.100M $1.100M $800.0K
YoY Change 0.0% 37.5%
Total Long-Term Liabilities $1.100M $1.100M $800.0K
YoY Change 0.0% 37.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.27M $19.23M $26.66M
Total Long-Term Liabilities $1.100M $1.100M $800.0K
Total Liabilities $20.39M $20.35M $27.49M
YoY Change -10.54% -25.99% 6773.68%
SHAREHOLDERS EQUITY
Retained Earnings -$139.3M
YoY Change
Common Stock $223.2M $218.1M $71.68M
YoY Change 4.56% 204.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $83.99M $94.76M $9.003M
YoY Change
Total Liabilities & Shareholders Equity $104.4M $115.1M $36.50M
YoY Change -31.2% 215.39%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$15.95M -$14.28M -$25.86M
YoY Change -27.23% -44.77% 7342.85%
Depreciation, Depletion And Amortization $120.0K $110.0K $70.00K
YoY Change 50.0% 57.14%
Cash From Operating Activities -$13.58M -$12.00M -$7.640M
YoY Change -45.26% 57.07% 5357.14%
INVESTING ACTIVITIES
Capital Expenditures -$190.0K -$80.00K -$10.00K
YoY Change -51.28% 700.0%
Acquisitions
YoY Change
Other Investing Activities $3.490M $2.300M $0.00
YoY Change
Cash From Investing Activities $3.290M $2.230M -$10.00K
YoY Change -943.59% -22400.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.070M 150.0K 0.000
YoY Change -98.4% -100.0%
NET CHANGE
Cash From Operating Activities -13.58M -12.00M -7.640M
Cash From Investing Activities 3.290M 2.230M -10.00K
Cash From Financing Activities 2.070M 150.0K 0.000
Net Change In Cash -8.220M -12.00M -7.650M
YoY Change -107.9% 56.86% -25600.0%
FREE CASH FLOW
Cash From Operating Activities -$13.58M -$12.00M -$7.640M
Capital Expenditures -$190.0K -$80.00K -$10.00K
Free Cash Flow -$13.39M -$11.92M -$7.630M
YoY Change -45.17% 56.23% 5350.0%

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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Concentration of Risk:</b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Financial instruments, which potentially subject the Company to concentrations of credit risk, principally consist of cash and cash equivalents. The Company&#x2019;s cash and cash equivalents in excess of the Federal Deposit Insurance Corporation and the Securities Investor Protection Corporation insured limits at September&#xA0;30, 2013, were approximately $52.6 million. The Company does not believe it is exposed to any significant credit risk.</p> </div>
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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b>Reclassifications:</b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> Certain amounts for 2012 have been reclassified to conform to the current year&#x2019;s presentation.</p> </div>
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