2023 Q3 Form 10-Q Financial Statement

#000131539923000061 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $29.11M $27.27M
YoY Change 30.33% 32.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $140.0K $144.0K
YoY Change -12.5% -11.11%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $13.43M $11.40M
YoY Change 341.52% 350.41%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.369M $10.59M
YoY Change -90.51% -26.59%
Income Tax $340.0K $2.461M
% Of Pretax Income 24.84% 23.24%
Net Earnings $1.029M $8.123M
YoY Change -90.24% -24.35%
Net Earnings / Revenue 3.53% 29.79%
Basic Earnings Per Share $0.09 $0.68
Diluted Earnings Per Share $0.08 $0.67
COMMON SHARES
Basic Shares Outstanding 11.95M shares 11.95M shares
Diluted Shares Outstanding 12.13M shares 12.12M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $143.3M $155.3M
YoY Change -32.62% -62.49%
Cash & Equivalents $126.7M $137.5M
Short-Term Investments $16.59M $17.76M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $5.665M $5.749M
YoY Change -5.71% -5.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.900M $9.894M
YoY Change 25.46% 27.39%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.984B $1.982B
YoY Change 3.14% -0.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.800M $3.730M
YoY Change 251.2% 151.18%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $10.00M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.800M $13.73M
YoY Change 251.2% 300.76%
LONG-TERM LIABILITIES
Long-Term Debt $43.10M $43.02M
YoY Change 0.53% 0.44%
Other Long-Term Liabilities $14.70M $17.78M
YoY Change 0.33% 68.36%
Total Long-Term Liabilities $57.80M $60.79M
YoY Change 0.48% 13.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.800M $13.73M
Total Long-Term Liabilities $57.80M $60.79M
Total Liabilities $1.706B $1.703B
YoY Change 2.39% -2.18%
SHAREHOLDERS EQUITY
Retained Earnings $143.4M $144.6M
YoY Change 16.22% 25.67%
Common Stock $1.223M $1.223M
YoY Change 0.16% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $278.0M $279.1M
YoY Change
Total Liabilities & Shareholders Equity $1.984B $1.982B
YoY Change 3.14% -0.4%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $1.029M $8.123M
YoY Change -90.24% -24.35%
Depreciation, Depletion And Amortization $140.0K $144.0K
YoY Change -12.5% -11.11%
Cash From Operating Activities -$740.0K $4.167M
YoY Change -105.97% -68.51%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$9.470M -$24.08M
YoY Change -92.84% -52.79%
Cash From Investing Activities -$9.470M -$24.08M
YoY Change -92.84% -52.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -560.0K 11.43M
YoY Change -99.3% -115.7%
NET CHANGE
Cash From Operating Activities -740.0K 4.167M
Cash From Investing Activities -9.470M -24.08M
Cash From Financing Activities -560.0K 11.43M
Net Change In Cash -10.77M -8.477M
YoY Change -94.61% -92.33%
FREE CASH FLOW
Cash From Operating Activities -$740.0K $4.167M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
136000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
8622000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
712000 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
0 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
0 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
6403000 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1629000 usd
CY2022Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionFairValue
6403000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
32015000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
31845000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
1754031000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
1719614000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
1786046000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
1751459000 usd
CY2023Q2 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
2997000 usd
CY2023Q2 pkbk Financing Receivable Nonaccrual With Allowance
FinancingReceivableNonaccrualWithAllowance
15837000 usd
CY2023Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
18834000 usd
CY2023Q2 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 usd
CY2023Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
18834000 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
21733000 usd
CY2022Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
0 usd
CY2023Q2 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
760000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
31507000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
8000 usd
CY2023Q2 pkbk Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal Excluding Unfunded Commitments
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalExcludingUnfundedCommitments
500000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
32015000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
31845000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
12000 usd
pkbk Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal Excluding Unfunded Commitments
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalExcludingUnfundedCommitments
-1700000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
32015000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
29981000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
117000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
350000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
30448000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
29845000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
0 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
253000 usd
us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
350000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
30448000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
146000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
30302000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
30448000 usd
CY2022Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
9514000 usd
CY2022Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1538619000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
1548133000 usd
CY2023Q2 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
3600000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
1751459000 usd
us-gaap Financing Receivable Excluding Accrued Interest Modified Period
FinancingReceivableExcludingAccruedInterestModifiedPeriod
15584000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
8130000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
10738000 usd
us-gaap Net Income Loss
NetIncomeLoss
19260000 usd
us-gaap Net Income Loss
NetIncomeLoss
20829000 usd
CY2023Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
7000 usd
CY2022Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
7000 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
14000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8123000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10731000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19246000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20815000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11914454 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11944794 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11909892 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.68
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.90
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.75
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8123000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10731000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
19246000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20815000 usd
CY2023Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
7000 usd
CY2022Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
7000 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
14000 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
14000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
8130000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10738000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
19260000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
20829000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11945424 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11914454 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11944794 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11909892 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
173580 shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
270798 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
195105 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
272894 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12119004 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12185252 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12139899 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12182786 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.88
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.71
CY2023Q2 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
760000 usd
CY2023Q2 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
9500000 usd

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