2014 Q4 Form 10-Q Financial Statement

#000119312514410794 Filed on November 13, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $2.078M $1.763M
YoY Change 17.87%
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 $100.0K $110.0K $90.00K
YoY Change 0.0% 22.22% -10.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $162.0K $165.0K
YoY Change -1.82%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $850.0K $454.0K $437.0K
YoY Change 93.18% 3.89% 173.13%
Income Tax $300.0K $159.0K $150.0K
% Of Pretax Income 35.29% 35.02% 34.32%
Net Earnings $550.0K $295.0K $287.0K
YoY Change 83.33% 2.79% 218.89%
Net Earnings / Revenue 14.2% 16.28%
Basic Earnings Per Share $0.17 $0.19
Diluted Earnings Per Share $298.9K $0.17 $0.19
COMMON SHARES
Basic Shares Outstanding 1.821M shares 1.786M shares 1.498M shares
Diluted Shares Outstanding 1.788M shares 1.500M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $7.555M $8.047M $25.82M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.563M $3.630M $3.800M
YoY Change -5.16% -4.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $300.0K $300.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $210.4M $204.5M $190.4M
YoY Change 1.88% 7.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.700M $2.700M $5.800M
YoY Change -52.63% -53.45%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.700M $2.700M $5.800M
YoY Change -52.63% -53.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $800.0K $1.600M $700.0K
YoY Change -20.0% 128.57%
Total Long-Term Liabilities $800.0K $1.600M $700.0K
YoY Change -20.0% 128.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.700M $2.700M $5.800M
Total Long-Term Liabilities $800.0K $1.600M $700.0K
Total Liabilities $187.5M $183.5M $174.2M
YoY Change -1.38% 5.36%
SHAREHOLDERS EQUITY
Retained Earnings $2.738M $2.192M
YoY Change 58.08%
Common Stock $20.08M $18.00K
YoY Change 34.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.87M $20.93M $16.18M
YoY Change
Total Liabilities & Shareholders Equity $210.4M $204.5M $190.4M
YoY Change 1.88% 7.39%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $550.0K $295.0K $287.0K
YoY Change 83.33% 2.79% 218.89%
Depreciation, Depletion And Amortization $100.0K $110.0K $90.00K
YoY Change 0.0% 22.22% -10.0%
Cash From Operating Activities -$90.00K $850.0K $420.0K
YoY Change -122.5% 102.38% 425.0%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K -$50.00K -$490.0K
YoY Change -60.0% -89.8% 4800.0%
Acquisitions
YoY Change
Other Investing Activities -$6.490M -$13.52M -$2.300M
YoY Change -13.7% 487.83% -80.83%
Cash From Investing Activities -$6.530M -$13.58M -$2.790M
YoY Change -14.3% 386.74% -76.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.120M -2.220M 6.000M
YoY Change -60.67% -137.0% -25.56%
NET CHANGE
Cash From Operating Activities -90.00K 850.0K 420.0K
Cash From Investing Activities -6.530M -13.58M -2.790M
Cash From Financing Activities 6.120M -2.220M 6.000M
Net Change In Cash -500.0K -14.95M 3.630M
YoY Change -106.0% -511.85% -194.04%
FREE CASH FLOW
Cash From Operating Activities -$90.00K $850.0K $420.0K
Capital Expenditures -$40.00K -$50.00K -$490.0K
Free Cash Flow -$50.00K $900.0K $910.0K
YoY Change -110.0% -1.1% 911.11%

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0
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1785900 shares
CY2014Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentBeforeTaxPortionAttributableToParent
9000
CY2014Q3 us-gaap Noninterest Income Other
NoninterestIncomeOther
37000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
295000
CY2014Q3 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
1711000
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1917000
CY2014Q3 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
1836000
CY2014Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
4000
CY2014Q3 us-gaap Noninterest Income
NoninterestIncome
207000
CY2014Q3 us-gaap Fees And Commissions Depositor Accounts
FeesAndCommissionsDepositorAccounts
32000
CY2014Q3 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
230000
CY2014Q3 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
18000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
301000
CY2014Q3 us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
107000
CY2014Q3 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
12000
CY2014Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
27000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
455000
CY2014Q3 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
2078000
CY2014Q3 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
4000
CY2014Q3 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
13000
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
295000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
295000
CY2014Q3 us-gaap Interest Expense
InterestExpense
161000
CY2014Q3 us-gaap Interest Expense Domestic Deposits
InterestExpenseDomesticDeposits
154000
CY2014Q3 us-gaap Professional Fees
ProfessionalFees
65000
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
829000
CY2014Q3 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
-206000
CY2014Q3 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
0
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
160000
CY2014Q3 us-gaap Noninterest Expense
NoninterestExpense
1463000
CY2014Q3 us-gaap Occupancy Net
OccupancyNet
243000
CY2014Q3 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
CY2014Q3 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
7000
CY2014Q3 us-gaap Other Noninterest Expense
OtherNoninterestExpense
326000
CY2014Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
18000
CY2014Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
1649000
CY2014Q3 us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
3000
CY2014Q3 prime Gain Loss On Sale Of Small Business Administration Loans
GainLossOnSaleOfSmallBusinessAdministrationLoans
0

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