2021 Q4 Form 10-Q Financial Statement

#000117184321007950 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $6.436M $6.673M $5.174M
YoY Change 20.64% 28.97% -47.48%
Cost Of Revenue $4.251M $3.598M $4.041M
YoY Change 4.7% -10.96% -26.12%
Gross Profit $2.185M $3.075M $1.133M
YoY Change 71.1% 171.4% -74.14%
Gross Profit Margin 33.95% 46.08% 21.9%
Selling, General & Admin $2.837M $1.981M $2.237M
YoY Change 35.74% -11.44% -15.74%
% of Gross Profit 129.84% 64.42% 197.44%
Research & Development $313.0K $244.0K $305.0K
YoY Change 4.33% -20.0% -22.39%
% of Gross Profit 14.32% 7.93% 26.92%
Depreciation & Amortization $650.0K $781.0K $710.0K
YoY Change -5.8% 10.0% -1.39%
% of Gross Profit 29.75% 25.4% 62.67%
Operating Expenses $3.150M $2.225M $2.542M
YoY Change 32.35% -12.47% -16.6%
Operating Profit -$965.0K $850.0K -$1.409M
YoY Change -12.98% -160.33% -205.62%
Interest Expense -$17.00K -$12.00K -$20.00K
YoY Change 70.0% -40.0% -300.0%
% of Operating Profit -1.41%
Other Income/Expense, Net $75.00K -$17.00K
YoY Change -541.18% -383.33%
Pretax Income -$2.057M $925.0K -$1.426M
YoY Change 83.66% -164.87% -206.42%
Income Tax -$436.0K $186.0K -$319.0K
% Of Pretax Income 20.11%
Net Earnings -$1.621M $739.0K -$1.107M
YoY Change 198.53% -166.76% -263.52%
Net Earnings / Revenue -25.19% 11.07% -21.4%
Basic Earnings Per Share $0.13 -$0.20
Diluted Earnings Per Share -$291.0K $0.13 -$0.20
COMMON SHARES
Basic Shares Outstanding 5.542M 5.542M 5.526M
Diluted Shares Outstanding 5.626M 5.526M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.992M $1.968M $1.810M
YoY Change -29.61% 8.73% -72.11%
Cash & Equivalents $1.992M $2.000M $1.809M
Short-Term Investments
Other Short-Term Assets $1.499M $2.754M $1.300M
YoY Change 64.73% 111.85% -28.57%
Inventory
Prepaid Expenses
Receivables $4.116M $4.681M $3.890M
Other Receivables $2.678M $2.269M $1.830M
Total Short-Term Assets $10.29M $11.67M $8.831M
YoY Change 7.16% 32.17% -34.52%
LONG-TERM ASSETS
Property, Plant & Equipment $6.691M $7.296M $9.746M
YoY Change -27.52% -25.14% 6.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $864.0K $883.0K $885.0K
YoY Change -2.7% -0.23% -6.25%
Total Long-Term Assets $11.27M $11.96M $15.15M
YoY Change -21.78% -21.04% 13.93%
TOTAL ASSETS
Total Short-Term Assets $10.29M $11.67M $8.831M
Total Long-Term Assets $11.27M $11.96M $15.15M
Total Assets $21.55M $23.63M $23.98M
YoY Change -10.21% -1.45% -10.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $994.0K $448.0K $416.0K
YoY Change 72.27% 7.69% 11.83%
Accrued Expenses $3.188M $3.223M $1.357M
YoY Change 77.01% 137.51% -50.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $664.0K $696.0K $685.0K
YoY Change -3.49% 1.61% 64.66%
Total Short-Term Liabilities $5.830M $5.342M $3.342M
YoY Change 47.93% 59.84% -28.68%
LONG-TERM LIABILITIES
Long-Term Debt $599.0K $740.0K $3.617M
YoY Change -82.61% -79.54% 301.89%
Other Long-Term Liabilities $2.880M $3.234M $4.080M
YoY Change -26.15% -20.74% 72.88%
Total Long-Term Liabilities $599.0K $740.0K $3.617M
YoY Change -82.61% -79.54% 301.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.830M $5.342M $3.342M
Total Long-Term Liabilities $599.0K $740.0K $3.617M
Total Liabilities $9.309M $9.606M $11.04M
YoY Change -18.99% -12.97% 25.95%
SHAREHOLDERS EQUITY
Retained Earnings -$9.550M -$7.650M -$8.063M
YoY Change 10.97% -5.12% 261.25%
Common Stock $33.51M $33.39M $32.72M
YoY Change 2.06% 2.05% 2.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.08M $10.08M $10.08M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $668.0K $668.0K $668.0K
Shareholders Equity $12.24M $14.03M $12.94M
YoY Change
Total Liabilities & Shareholders Equity $21.55M $23.63M $23.98M
YoY Change -10.21% -1.45% -10.47%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$1.621M $739.0K -$1.107M
YoY Change 198.53% -166.76% -263.52%
Depreciation, Depletion And Amortization $650.0K $781.0K $710.0K
YoY Change -5.8% 10.0% -1.39%
Cash From Operating Activities $565.0K -$388.0K -$1.490M
YoY Change -50.44% -73.96% -189.22%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$68.00K -$250.0K
YoY Change -142.86% -72.8% -67.11%
Acquisitions
YoY Change
Other Investing Activities $4.000K -$50.00K $20.00K
YoY Change -120.0% -350.0% -133.33%
Cash From Investing Activities -$26.00K -$118.0K -$230.0K
YoY Change -152.0% -48.7% -72.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -515.0K -177.0K -170.0K
YoY Change 202.94% 4.12% -84.4%
NET CHANGE
Cash From Operating Activities 565.0K -388.0K -1.490M
Cash From Investing Activities -26.00K -118.0K -230.0K
Cash From Financing Activities -515.0K -177.0K -170.0K
Net Change In Cash 24.00K -683.0K -1.890M
YoY Change -97.65% -63.86% 656.0%
FREE CASH FLOW
Cash From Operating Activities $565.0K -$388.0K -$1.490M
Capital Expenditures -$30.00K -$68.00K -$250.0K
Free Cash Flow $595.0K -$320.0K -$1.240M
YoY Change -44.39% -74.19% -151.03%

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us-gaap Share Based Compensation
ShareBasedCompensation
449000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1325000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
110000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1840000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1344000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-226000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-129000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-204000 USD
pmd Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-754000 USD
pmd Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-721000 USD
pmd Increase Decrease In Accrued Expenses And Accrued Income Taxes
IncreaseDecreaseInAccruedExpensesAndAccruedIncomeTaxes
1422000 USD
pmd Increase Decrease In Accrued Expenses And Accrued Income Taxes
IncreaseDecreaseInAccruedExpensesAndAccruedIncomeTaxes
-2219000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-151000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5223000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
140000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
68000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
880000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
84000 USD
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
184000 USD
pmd Payments For Proceeds From Other Assets
PaymentsForProceedsFromOtherAssets
42000 USD
pmd Payments For Proceeds From Other Assets
PaymentsForProceedsFromOtherAssets
-10000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-194000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-914000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-5000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-8000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2181000 USD
pmd Payments Of Equipment Financing
PaymentsOfEquipmentFinancing
515000 USD
pmd Payments Of Equipment Financing
PaymentsOfEquipmentFinancing
507000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
993000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-520000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
673000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-10000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-865000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5474000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2833000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7283000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1968000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1809000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
10000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
236000 USD
us-gaap Interest Paid Net
InterestPaidNet
40000 USD
us-gaap Interest Paid Net
InterestPaidNet
60000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
862000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
800000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
193000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2346000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
3000 USD
CY2021Q3 pmd Income Tax Benefit Cares Act
IncomeTaxBenefitCARESAct
800000 USD
pmd Income Tax Benefit Cares Act
IncomeTaxBenefitCARESAct
2500000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2000000.0 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
178000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
126000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
564000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
449000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5522000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
545000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
547000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5522000
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
84000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
72000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5626000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5526000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5614000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
604000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.31
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.47
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
575000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M18D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
147000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
464000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
15.12
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5542000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5526000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5542000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3800000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4200000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.039 pure
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
269000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
807000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
243000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1117000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1118000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1034000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
544000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
509000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4565000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
356000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4209000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
975000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3234000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4209000 USD
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2.1 USD
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
740000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6673000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5174000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18473000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
16025000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6673000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5174000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18473000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
16025000 USD

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