2022 Q4 Form 10-Q Financial Statement

#000117184322007389 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $5.703M $6.516M
YoY Change -11.39% -2.35%
Cost Of Revenue $3.458M $4.184M
YoY Change -18.65% 16.29%
Gross Profit $2.245M $2.332M
YoY Change 2.75% -24.16%
Gross Profit Margin 39.37% 35.79%
Selling, General & Admin $2.278M $2.379M
YoY Change -19.7% 20.09%
% of Gross Profit 101.47% 102.02%
Research & Development $323.0K $328.0K
YoY Change 3.19% 34.43%
% of Gross Profit 14.39% 14.07%
Depreciation & Amortization $531.0K $597.0K
YoY Change -18.31% -23.56%
% of Gross Profit 23.65% 25.6%
Operating Expenses $2.601M $2.707M
YoY Change -17.43% 21.66%
Operating Profit -$356.0K -$375.0K
YoY Change -63.11% -144.12%
Interest Expense -$6.000K -$8.000K
YoY Change -64.71% -33.33%
% of Operating Profit
Other Income/Expense, Net -$8.000K
YoY Change -110.67%
Pretax Income -$362.0K -$383.0K
YoY Change -82.4% -141.41%
Income Tax $326.0K -$286.0K
% Of Pretax Income
Net Earnings -$688.0K -$97.00K
YoY Change -57.56% -113.13%
Net Earnings / Revenue -12.06% -1.49%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.12 -$0.02
COMMON SHARES
Basic Shares Outstanding 5.645M 5.626M
Diluted Shares Outstanding 5.638M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.750M $3.458M
YoY Change 138.45% 75.71%
Cash & Equivalents $4.750M $3.500M
Short-Term Investments
Other Short-Term Assets $1.136M $1.510M
YoY Change -24.22% -45.17%
Inventory
Prepaid Expenses
Receivables $3.739M $4.953M
Other Receivables $339.0K $803.0K
Total Short-Term Assets $9.964M $10.72M
YoY Change -3.12% -8.12%
LONG-TERM ASSETS
Property, Plant & Equipment $7.254M $7.976M
YoY Change 8.41% 9.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.514M $843.0K
YoY Change 75.23% -4.53%
Total Long-Term Assets $8.768M $9.754M
YoY Change -22.18% -18.45%
TOTAL ASSETS
Total Short-Term Assets $9.964M $10.72M
Total Long-Term Assets $8.768M $9.754M
Total Assets $18.73M $20.48M
YoY Change -13.08% -13.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $448.0K $857.0K
YoY Change -54.93% 91.29%
Accrued Expenses $4.976M $3.974M
YoY Change 56.09% 23.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $294.0K $360.0K
YoY Change -55.72% -48.28%
Total Short-Term Liabilities $5.718M $6.176M
YoY Change -1.92% 15.61%
LONG-TERM LIABILITIES
Long-Term Debt $305.0K $380.0K
YoY Change -49.08% -48.65%
Other Long-Term Liabilities $1.938M $2.200M
YoY Change -32.71% -31.97%
Total Long-Term Liabilities $2.243M $380.0K
YoY Change 274.46% -48.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.718M $6.176M
Total Long-Term Liabilities $2.243M $380.0K
Total Liabilities $7.961M $8.756M
YoY Change -14.48% -8.85%
SHAREHOLDERS EQUITY
Retained Earnings -$11.82M -$10.73M
YoY Change 23.77% 40.3%
Common Stock $34.31M $34.17M
YoY Change 2.38% 2.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.08M $10.08M
YoY Change 0.0% 0.0%
Treasury Stock Shares $668.0K $668.0K
Shareholders Equity $10.77M $11.72M
YoY Change
Total Liabilities & Shareholders Equity $18.73M $20.48M
YoY Change -13.08% -13.35%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$688.0K -$97.00K
YoY Change -57.56% -113.13%
Depreciation, Depletion And Amortization $531.0K $597.0K
YoY Change -18.31% -23.56%
Cash From Operating Activities $1.894M $2.334M
YoY Change 235.22% -701.55%
INVESTING ACTIVITIES
Capital Expenditures $24.00K -$91.00K
YoY Change -180.0% 33.82%
Acquisitions
YoY Change
Other Investing Activities $4.000K -$7.000K
YoY Change 0.0% -86.0%
Cash From Investing Activities -$20.00K -$98.00K
YoY Change -23.08% -16.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -582.0K -568.0K
YoY Change 13.01% 220.9%
NET CHANGE
Cash From Operating Activities 1.894M 2.334M
Cash From Investing Activities -20.00K -98.00K
Cash From Financing Activities -582.0K -568.0K
Net Change In Cash 1.292M 1.668M
YoY Change 5283.33% -344.22%
FREE CASH FLOW
Cash From Operating Activities $1.894M $2.334M
Capital Expenditures $24.00K -$91.00K
Free Cash Flow $1.870M $2.425M
YoY Change 214.29% -857.81%

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us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
564000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
14027000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
2181000 usd
pmd Depreciation And Amortization Excluding Rou Asset Amortization
DepreciationAndAmortizationExcludingRouAssetAmortization
1836000 usd
pmd Depreciation And Amortization Excluding Rou Asset Amortization
DepreciationAndAmortizationExcludingRouAssetAmortization
2134000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
718000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
697000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-775000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5000 usd
pmd Payments Of Equipment Financing
PaymentsOfEquipmentFinancing
523000 usd
pmd Payments Of Equipment Financing
PaymentsOfEquipmentFinancing
515000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
787000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
-0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1342000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-520000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
36000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
79000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
694000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
564000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
837000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1325000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1840000 usd
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-1875000 usd
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-226000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-137000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-129000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-757000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-754000 usd
pmd Increase Decrease In Accrued Expenses And Accrued Income Taxes
IncreaseDecreaseInAccruedExpensesAndAccruedIncomeTaxes
786000 usd
pmd Increase Decrease In Accrued Expenses And Accrued Income Taxes
IncreaseDecreaseInAccruedExpensesAndAccruedIncomeTaxes
1422000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2996000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-151000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
60000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
68000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
103000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
84000 usd
pmd Payments For Proceeds From Other Assets
PaymentsForProceedsFromOtherAssets
25000 usd
pmd Payments For Proceeds From Other Assets
PaymentsForProceedsFromOtherAssets
42000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-188000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-194000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1466000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-865000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1992000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2833000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3458000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1968000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
10000 usd
us-gaap Interest Paid Net
InterestPaidNet
36000 usd
us-gaap Interest Paid Net
InterestPaidNet
40000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
849000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
862000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
78000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
193000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
564000 usd
CY2021Q3 pmd Income Tax Benefit Cares Act
IncomeTaxBenefitCARESAct
1000000.0 usd
pmd Income Tax Benefit Cares Act
IncomeTaxBenefitCARESAct
2600000 usd
CY2022Q3 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
1900000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3500000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
277000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
178000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
694000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
574000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.23
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
100000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.07
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.07
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
572000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.28
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y3M18D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
74000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
519000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.89
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5542000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y1M6D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
21000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5638000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5613000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5542000
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
84000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
72000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5638000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5626000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5613000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5614000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
773000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
605000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2900000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3200000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
262000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
762000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19537000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18473000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
238000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1133000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1061000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
553000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
460000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3445000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
260000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3185000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
985000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2200000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
3185000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6516000 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6673000 usd

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