$PCYN
PROCYON CORP

2020 Q4 Form 10-Q Financial Statement

#000143774921004155 Filed on February 26, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $1.174M $4.334M $1.128M
YoY Change 4.14% 3.41% 23.32%
Cost Of Revenue $328.6K $1.135M $325.1K
YoY Change 1.06% -0.61% 35.53%
Gross Profit $845.8K $3.199M $802.6K
YoY Change 5.39% 4.91% 18.97%
Gross Profit Margin 72.02% 73.82% 71.17%
Selling, General & Admin $326.5K $1.317M $382.1K
YoY Change -14.55% -7.15% 2.07%
% of Gross Profit 38.6% 41.15% 47.61%
Research & Development $23.09K
YoY Change -30.32%
% of Gross Profit 0.72%
Depreciation & Amortization $11.32K $53.94K $13.90K
YoY Change -18.56% 94.72% -13.99%
% of Gross Profit 1.34% 1.69% 1.73%
Operating Expenses $326.5K $1.340M $382.1K
YoY Change -14.55% -7.68% 2.07%
Operating Profit $104.9K $153.0K $2.951K
YoY Change 3453.88% 57.63% -104.04%
Interest Expense -$1.017K $0.00 $1.186K
YoY Change -185.75%
% of Operating Profit -0.97% 0.0% 40.19%
Other Income/Expense, Net -$1.017K $7.049K $1.186K
YoY Change -185.75% 214.69% 22.65%
Pretax Income $103.9K $160.1K $4.137K
YoY Change 2410.47% 61.17% -105.74%
Income Tax $29.55K $48.41K $4.342K
% Of Pretax Income 28.45% 30.24% 104.96%
Net Earnings $74.31K $111.7K -$204.00
YoY Change -36527.94% 33.5% -99.7%
Net Earnings / Revenue 6.33% 2.58% -0.02%
Basic Earnings Per Share $0.01 $0.01 $0.00
Diluted Earnings Per Share $0.01 $0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 8.087M 8.087M 8.087M
Diluted Shares Outstanding 8.319M 8.319M 8.319M

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $802.4K $821.0K $251.7K
YoY Change 218.8% 84.8% -48.59%
Cash & Equivalents $647.0K $96.63K
Short-Term Investments $155.4K $155.1K $155.1K
Other Short-Term Assets $201.9K $183.1K $278.8K
YoY Change -27.59% -25.09% 22.3%
Inventory $623.6K $758.5K $590.8K
Prepaid Expenses
Receivables $459.7K $311.0K $631.6K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.088M $2.074M $1.753M
YoY Change 19.1% 30.11% 15.32%
LONG-TERM ASSETS
Property, Plant & Equipment $440.2K $483.1K $471.9K
YoY Change -6.73% -1.1% -4.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $416.2K $247.9K $417.6K
YoY Change -0.34% -26.16% 0.9%
Total Long-Term Assets $917.0K $748.0K $889.5K
YoY Change 3.09% -11.07% -2.0%
TOTAL ASSETS
Total Short-Term Assets $2.088M $2.074M $1.753M
Total Long-Term Assets $917.0K $748.0K $889.5K
Total Assets $3.005M $2.822M $2.642M
YoY Change 13.71% 15.88% 8.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.8K $167.5K $112.8K
YoY Change 0.82% 13.57% -42.87%
Accrued Expenses $206.1K $289.5K $381.5K
YoY Change -45.99% 26.69% 113.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $156.4K $57.03K
YoY Change
Total Short-Term Liabilities $476.3K $514.0K $494.4K
YoY Change -3.66% 36.71% 31.24%
LONG-TERM LIABILITIES
Long-Term Debt $44.57K $144.0K $0.00
YoY Change
Other Long-Term Liabilities $26.61K $12.30K
YoY Change 116.34%
Total Long-Term Liabilities $71.18K $144.0K $12.30K
YoY Change 478.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $476.3K $514.0K $494.4K
Total Long-Term Liabilities $71.18K $144.0K $12.30K
Total Liabilities $547.5K $657.9K $506.7K
YoY Change 8.05% 75.01% 34.51%
SHAREHOLDERS EQUITY
Retained Earnings -$2.130M -$2.452M
YoY Change -13.11% -3.34%
Common Stock $4.445M $4.445M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.457M $2.164M $2.136M
YoY Change
Total Liabilities & Shareholders Equity $3.005M $2.822M $2.642M
YoY Change 13.71% 15.88% 8.84%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income $74.31K $111.7K -$204.00
YoY Change -36527.94% 33.5% -99.7%
Depreciation, Depletion And Amortization $11.32K $53.94K $13.90K
YoY Change -18.56% 94.72% -13.99%
Cash From Operating Activities $21.91K $198.8K -$171.7K
YoY Change -112.76% -225.5% 49.64%
INVESTING ACTIVITIES
Capital Expenditures -$3.240K $23.04K -$7.480K
YoY Change -56.68% 106.67% -409.09%
Acquisitions
YoY Change
Other Investing Activities -$1.180K
YoY Change
Cash From Investing Activities -$3.240K -$24.23K -$7.480K
YoY Change -56.68% 117.26% -409.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.37K 201.0K -12.74K
YoY Change 256.12% -933.26% 471.3%
NET CHANGE
Cash From Operating Activities 21.91K 198.8K -171.7K
Cash From Investing Activities -3.240K -24.23K -7.480K
Cash From Financing Activities -45.37K 201.0K -12.74K
Net Change In Cash -26.70K 375.5K -192.0K
YoY Change -86.09% -293.92% 67.54%
FREE CASH FLOW
Cash From Operating Activities $21.91K $198.8K -$171.7K
Capital Expenditures -$3.240K $23.04K -$7.480K
Free Cash Flow $25.15K $175.7K -$164.3K
YoY Change -115.31% -203.65% 40.17%

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117981
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
115456
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
45029
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
18424
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
26605
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
70427
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43643
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30245
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
64873
CY2020 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
21400
CY2019 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
21425
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0457
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y240D
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
855000
CY2020Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
87981
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10027
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11150
CY2020Q4 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4178
CY2019Q4 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4179
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
8356
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
8356
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
496000000
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
496000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
201847
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
183138
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
440151
CY2020Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
326492
CY2019Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
382096
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
609612
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
736737
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
452855
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-56639
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2130386
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2423795
CY2020Q4 us-gaap Revenues
Revenues
1174405
CY2019Q4 us-gaap Revenues
Revenues
1127695
us-gaap Revenues
Revenues
2420648
us-gaap Revenues
Revenues
2310992
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
73719
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
108516
CY2020Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
414467
CY2019Q4 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
417518
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
826721
us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
810707
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
65000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
2457125
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
2163716
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
2382812
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
2058997
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
2135899
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
2135695
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
56638
CY2020Q4 us-gaap Variable Lease Cost
VariableLeaseCost
8386
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
11666
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8319488
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8319488
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8319488
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8319488
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8087388
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8087388
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8087388
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8087388

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