$PRPO
Precipio, Inc.

2012 Q3 Form 10-Q Financial Statement

#000104396112000014 Filed on August 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2012 Q2 2011 Q2
Revenue $7.889M $9.093M $7.667M
YoY Change -4.41% 18.6% 50.48%
Cost Of Revenue $4.089M $4.531M $3.112M
YoY Change 7.38% 45.6% 19.33%
Gross Profit $3.800M $4.562M $4.555M
YoY Change -14.51% 0.15% 83.15%
Gross Profit Margin 48.17% 50.17% 59.41%
Selling, General & Admin $5.559M $5.278M $5.589M
YoY Change 27.38% -5.56% 84.27%
% of Gross Profit 146.29% 115.69% 122.7%
Research & Development $668.0K $654.0K $579.0K
YoY Change 29.71% 12.95% 13.09%
% of Gross Profit 17.58% 14.34% 12.71%
Depreciation & Amortization $495.0K $532.0K $499.0K
YoY Change 2.91% 6.61% 137.62%
% of Gross Profit 13.03% 11.66% 10.95%
Operating Expenses $6.227M $5.932M $6.179M
YoY Change 27.5% -4.0% 74.3%
Operating Profit -$2.427M -$1.370M -$1.624M
YoY Change 452.85% -15.64% 53.5%
Interest Expense -$210.0K $770.0K -$240.0K
YoY Change -12.5% -420.83%
% of Operating Profit
Other Income/Expense, Net -$6.000K $8.000K $1.000K
YoY Change 200.0% 700.0%
Pretax Income -$2.640M -$593.0K -$6.102M
YoY Change 106.41% -90.28% 477.29%
Income Tax $114.0K -$30.00K -$104.0K
% Of Pretax Income
Net Earnings -$2.754M -$563.0K -$5.998M
YoY Change 116.85% -90.61% 423.39%
Net Earnings / Revenue -34.91% -6.19% -78.23%
Basic Earnings Per Share
Diluted Earnings Per Share -$275.0M -$56.00M -$600.0M
COMMON SHARES
Basic Shares Outstanding 71.65M shares 71.65M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q3 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.750M $6.300M $2.640M
YoY Change 516.2% 138.64% -51.29%
Cash & Equivalents $4.747M $6.297M $2.639M
Short-Term Investments $4.000M
Other Short-Term Assets $1.186M $889.0K $860.0K
YoY Change -11.23% 3.37% 48.28%
Inventory $4.406M $4.031M $3.309M
Prepaid Expenses
Receivables $8.157M $8.621M $7.194M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.49M $28.83M $14.00M
YoY Change 64.72% 105.91% 6.56%
LONG-TERM ASSETS
Property, Plant & Equipment $2.091M $1.842M $1.771M
YoY Change 30.93% 4.01% 110.83%
Goodwill $6.674M $6.440M $6.275M
YoY Change 6.36% 2.63%
Intangibles $11.49M $7.397M $8.522M
YoY Change 37.96% -13.2%
Long-Term Investments
YoY Change
Other Assets $143.0K $161.0K $130.0K
YoY Change 18.18% 23.85%
Total Long-Term Assets $20.39M $15.84M $16.70M
YoY Change 24.97% -5.14% 1174.66%
TOTAL ASSETS
Total Short-Term Assets $22.49M $28.83M $14.00M
Total Long-Term Assets $20.39M $15.84M $16.70M
Total Assets $42.89M $44.67M $30.70M
YoY Change 43.08% 45.51% 112.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.517M $1.477M $1.400M
YoY Change -11.85% 5.5% 57.3%
Accrued Expenses $3.627M $3.884M $3.681M
YoY Change -5.4% 5.51% 8.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $1.730M
YoY Change -100.0% -100.0%
Long-Term Debt Due $6.957M $6.061M $220.0K
YoY Change 463.78% 2655.0%
Total Short-Term Liabilities $16.60M $14.77M $9.905M
YoY Change 64.29% 49.12% 130.89%
LONG-TERM LIABILITIES
Long-Term Debt $448.0K $1.345M $7.406M
YoY Change -93.95% -81.84%
Other Long-Term Liabilities $1.163M $1.134M $1.008M
YoY Change 19.4% 12.5% 460.0%
Total Long-Term Liabilities $1.611M $2.479M $8.414M
YoY Change -80.77% -70.54% 4574.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.60M $14.77M $9.905M
Total Long-Term Liabilities $1.611M $2.479M $8.414M
Total Liabilities $20.31M $19.35M $28.92M
YoY Change -31.57% -33.09% 546.96%
SHAREHOLDERS EQUITY
Retained Earnings -$149.3M -$146.4M -$142.6M
YoY Change 3.57% 2.64%
Common Stock $721.0K $721.0K $498.0K
YoY Change 44.49% 44.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.58M $25.32M $111.0K
YoY Change
Total Liabilities & Shareholders Equity $42.89M $44.67M $30.70M
YoY Change 43.08% 45.51% 112.46%

Cashflow Statement

Concept 2012 Q3 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income -$2.754M -$563.0K -$5.998M
YoY Change 116.85% -90.61% 423.39%
Depreciation, Depletion And Amortization $495.0K $532.0K $499.0K
YoY Change 2.91% 6.61% 137.62%
Cash From Operating Activities -$2.580M -$2.440M $40.00K
YoY Change 160.61% -6200.0% -109.52%
INVESTING ACTIVITIES
Capital Expenditures -$3.680M -$160.0K -$130.0K
YoY Change -5357.14% 23.08% 116.67%
Acquisitions
YoY Change
Other Investing Activities $4.780M -$9.050M -$140.0K
YoY Change -4083.33% 6364.29% 600.0%
Cash From Investing Activities $1.090M -$9.200M -$270.0K
YoY Change -2825.0% 3307.41% 237.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K -1.330M -330.0K
YoY Change -37.5% 303.03% -925.0%
NET CHANGE
Cash From Operating Activities -2.580M -2.440M 40.00K
Cash From Investing Activities 1.090M -9.200M -270.0K
Cash From Financing Activities -100.0K -1.330M -330.0K
Net Change In Cash -1.590M -12.97M -560.0K
YoY Change 33.61% 2216.07% 21.74%
FREE CASH FLOW
Cash From Operating Activities -$2.580M -$2.440M $40.00K
Capital Expenditures -$3.680M -$160.0K -$130.0K
Free Cash Flow $1.100M -$2.280M $170.0K
YoY Change -203.77% -1441.18% -147.22%

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us-gaap Payments To Acquire Short Term Investments
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us-gaap Payments To Acquire Short Term Investments
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us-gaap Preferred Stock Dividends And Other Adjustments
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us-gaap Preferred Stock Dividends And Other Adjustments
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us-gaap Preferred Stock Dividends Income Statement Impact
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CY2012Q2 us-gaap Preferred Stock Shares Issued
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Repayments Of Notes Payable
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35000 USD
us-gaap Restructuring Charges
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us-gaap Sales Revenue Net
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
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P4Y
CY2011Q4 us-gaap Short Term Borrowings
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3082000 USD
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8994000 USD
CY2012Q2 us-gaap Significant Purchase Commitment Remaining Minimum Amount Committed
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Stock Issued During Period Value New Issues
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17373000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
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10000 USD
CY2011Q4 us-gaap Stockholders Equity
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us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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0 USD
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
6266000 USD
CY2011Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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4239000 USD
CY2012Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
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0 USD
CY2011Q2 tbio Inventory Provision Write Offs
InventoryProvisionWriteOffs
-41000 USD
tbio Inventory Provision Write Offs
InventoryProvisionWriteOffs
-46000 USD
CY2012Q2 tbio Inventory Provision Write Offs
InventoryProvisionWriteOffs
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CY2011Q4 us-gaap Warrants And Rights Outstanding
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CY2012Q2 tbio Accounts Receivable General Payment Terms
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P30D
CY2012Q2 tbio Accounts Receivable International Extended Payment Terms Greater Than
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tbio Adjustment Of Warrants Granted
AdjustmentOfWarrantsGranted
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tbio Adjustment Of Warrants Granted
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0 USD
tbio Basic And Diluted Weighted Average Shares Of Common Stock Outstanding
BasicAndDilutedWeightedAverageSharesOfCommonStockOutstanding
67164626 shares
tbio Basic And Diluted Weighted Average Shares Of Common Stock Outstanding
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49296339 shares
CY2012Q2 tbio Basic And Diluted Weighted Average Shares Of Common Stock Outstanding
BasicAndDilutedWeightedAverageSharesOfCommonStockOutstanding
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CY2011Q2 tbio Basic And Diluted Weighted Average Shares Of Common Stock Outstanding
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CY2012Q2 tbio Class Of Warrant Or Right Exercise Term
ClassOfWarrantOrRightExerciseTerm
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tbio Class Of Warrant Or Right Number Of Issued Warrants Or Rights
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11000000 shares
CY2012Q2 tbio Class Of Warrant Or Right Number Of Issued Warrants Or Rights
ClassOfWarrantOrRightNumberOfIssuedWarrantsOrRights
0 shares
CY2012Q1 tbio Convertible Notes Number Of Securities Called By Note
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3000000 shares
tbio Fair Value Assumptions Percentage Of Simulated Equity Values Below Down Round Financing Cut Off Point
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0.25
CY2012Q2 tbio Furniture Fixtures And Leasehold Impovements Gross
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3746000 USD
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3682000 USD
CY2011Q2 tbio Interest Income And Expense Net
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-240000 USD
CY2012Q2 tbio Interest Income And Expense Net
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-231000 USD
tbio Interest Income And Expense Net
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tbio Interest Income And Expense Net
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tbio Inventory Provision Write Offs
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-5000 USD
tbio Issuance Of Warrants Expected Exercise Period
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P4Y7M10D
CY2012Q2 tbio Number Of Wave Systems
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1550 WAVE_Systems
CY2012Q2 tbio Operating Leases Future Minimum Payments Due In Six Years
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800000 USD
tbio Other Income Expense
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CY2012Q2 tbio Other Income Expense
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777000 USD
tbio Other Income Expense
OtherIncomeExpense
524000 USD
CY2011Q2 tbio Other Income Expense
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-4478000 USD
CY2012Q1 tbio Proceeds From Issuance Of Common Stock And Convertable Notes
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22000000 USD
tbio Share Based Compensation Arrangement By Share Based Payment Award Contractual Term
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P10Y
tbio Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
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0.0110
tbio Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
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0.0163
tbio Stock And Warrants Exercised During Period Shares Preferred Stock And Warrants
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0 shares
CY2012Q2 tbio Stock And Warrants Exercised During Period Shares Preferred Stock And Warrants
StockAndWarrantsExercisedDuringPeriodSharesPreferredStockAndWarrants
0 shares
tbio Stock And Warrants Issued During Period Shares Preferred Stock And Warrants
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0 shares
CY2012Q2 tbio Stock And Warrants Issued During Period Shares Preferred Stock And Warrants
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0 shares
CY2011Q2 tbio Stock Warrants Expense
StockWarrantsExpense
0 USD
CY2012Q2 tbio Stock Warrants Expense
StockWarrantsExpense
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tbio Stock Warrants Expense
StockWarrantsExpense
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tbio Stock Warrants Expense
StockWarrantsExpense
0 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001043961
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
71645725 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
TRANSGENOMIC INC

Files In Submission

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