2015 Q2 Form 10-Q Financial Statement

#000114420415029221 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q2
Revenue $13.95M $13.98M $13.54M
YoY Change 3.03% 18.01% 4.31%
Cost Of Revenue $11.15M $12.00M $11.16M
YoY Change -0.09% 12.99% 6.18%
Gross Profit $2.810M $1.990M $2.380M
YoY Change 18.07% 61.79% -3.64%
Gross Profit Margin 20.14% 14.23% 17.58%
Selling, General & Admin $140.0K $160.0K $320.0K
YoY Change -56.25% -11.11% 146.15%
% of Gross Profit 4.98% 8.04% 13.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $710.0K $690.0K $640.0K
YoY Change 10.94% 56.82% 12.28%
% of Gross Profit 25.27% 34.67% 26.89%
Operating Expenses $840.0K $12.16M $960.0K
YoY Change -12.5% 15.78% 37.14%
Operating Profit $1.970M $1.131M $1.420M
YoY Change 38.73% 24.42% -19.77%
Interest Expense -$1.780M -$2.160M -$1.610M
YoY Change 10.56% 24.14% 103.8%
% of Operating Profit -90.36% -190.98% -113.38%
Other Income/Expense, Net -$70.00K -$2.392M -$70.00K
YoY Change 0.0% 34.16% 16.67%
Pretax Income -$20.00K -$1.261M $40.00K
YoY Change -150.0% 44.28% -95.79%
Income Tax $130.0K -$503.0K -$1.460M
% Of Pretax Income -3650.0%
Net Earnings -$150.0K -$705.0K $1.510M
YoY Change -109.93% 44.76% 357.58%
Net Earnings / Revenue -1.08% -5.04% 11.15%
Basic Earnings Per Share
Diluted Earnings Per Share -$205.5K -$972.6K $2.068M
COMMON SHARES
Basic Shares Outstanding 734.2K shares 734.2K shares 734.2K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.080M $1.110M $1.060M
YoY Change 1.89% 11.0% 58.21%
Cash & Equivalents $1.077M $1.109M $1.058M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $256.0K $653.0K
Prepaid Expenses
Receivables $6.790M $1.660M $1.960M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.870M $2.770M $3.020M
YoY Change 160.6% 1.09% 14.83%
LONG-TERM ASSETS
Property, Plant & Equipment $36.57M $36.30M $34.42M
YoY Change 6.25% 8.59% 1.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $7.280M $7.930M $9.550M
YoY Change -23.77% -14.08% 0.95%
Other Assets $8.940M $9.080M $24.35M
YoY Change -63.29% -62.56% 663.32%
Total Long-Term Assets $56.18M $57.39M $72.13M
YoY Change -22.12% -19.68% 48.12%
TOTAL ASSETS
Total Short-Term Assets $7.870M $2.770M $3.020M
Total Long-Term Assets $56.18M $57.39M $72.13M
Total Assets $64.05M $60.16M $75.15M
YoY Change -14.77% -18.91% 46.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.62M $14.42M $15.86M
YoY Change -7.82% -6.3% 72.77%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.62M $14.42M $15.86M
YoY Change -7.82% -6.3% 72.77%
LONG-TERM LIABILITIES
Long-Term Debt $126.2M $121.8M $133.4M
YoY Change -5.46% -9.54% 196.49%
Other Long-Term Liabilities $0.00 $540.0K $690.0K
YoY Change -100.0% 3.85% -37.84%
Total Long-Term Liabilities $126.2M $122.3M $134.1M
YoY Change -5.95% -9.49% 190.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.62M $14.42M $15.86M
Total Long-Term Liabilities $126.2M $122.3M $134.1M
Total Liabilities $140.8M $136.7M $150.0M
YoY Change -6.15% -5.26% 171.27%
SHAREHOLDERS EQUITY
Retained Earnings -$72.52M -$72.38M -$70.73M
YoY Change 2.53% 0.19% -12422.65%
Common Stock $2.092M $2.092M $2.092M
YoY Change 0.0% -30.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$70.43M -$70.28M -$68.64M
YoY Change
Total Liabilities & Shareholders Equity $64.05M $60.16M $75.15M
YoY Change -14.77% -18.91% 46.42%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q2
OPERATING ACTIVITIES
Net Income -$150.0K -$705.0K $1.510M
YoY Change -109.93% 44.76% 357.58%
Depreciation, Depletion And Amortization $710.0K $690.0K $640.0K
YoY Change 10.94% 56.82% 12.28%
Cash From Operating Activities $860.0K $1.740M $1.460M
YoY Change -41.1% 17300.0% -5.19%
INVESTING ACTIVITIES
Capital Expenditures -$1.010M -$1.160M -$1.530M
YoY Change -33.99% 81.25% 80.0%
Acquisitions
YoY Change
Other Investing Activities -$30.00K $0.00 -$40.00K
YoY Change -25.0% -100.0%
Cash From Investing Activities -$1.040M -$1.160M -$1.570M
YoY Change -33.76% 61.11% 84.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 150.0K 60.00K 170.0K
YoY Change -11.76% -108.45% -160.71%
NET CHANGE
Cash From Operating Activities 860.0K 1.740M 1.460M
Cash From Investing Activities -1.040M -1.160M -1.570M
Cash From Financing Activities 150.0K 60.00K 170.0K
Net Change In Cash -30.00K 640.0K 60.00K
YoY Change -150.0% -145.07% -85.37%
FREE CASH FLOW
Cash From Operating Activities $860.0K $1.740M $1.460M
Capital Expenditures -$1.010M -$1.160M -$1.530M
Free Cash Flow $1.870M $2.900M $2.990M
YoY Change -37.46% 346.15% 25.1%

Facts In Submission

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us-gaap Deferred Income Tax Expense Benefit
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-1232000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-524000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-716000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2172000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4083000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4083000 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
68613000 USD
us-gaap Proceeds From Repayments Of Other Debt
ProceedsFromRepaymentsOfOtherDebt
4509000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-1359000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
341000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3102000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
4850000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
331000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
51000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
668000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
999000 USD
us-gaap Interest Paid
InterestPaid
3213000 USD
us-gaap Interest Paid
InterestPaid
5906000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
64152000 USD
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3910000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1092000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-51000 USD
CY2014Q1 us-gaap Restructuring Costs
RestructuringCosts
-300000 USD
CY2015Q1 us-gaap Restructuring Costs
RestructuringCosts
0 USD
us-gaap Restructuring Costs
RestructuringCosts
6995000 USD
us-gaap Restructuring Costs
RestructuringCosts
0 USD
prsi Penalty Fees For Hotel Occupancy Tax
PenaltyFeesForHotelOccupancyTax
1084000 USD
prsi Penalty Fees For Hotel Occupancy Tax
PenaltyFeesForHotelOccupancyTax
0 USD
prsi Interest Expenses For Occupancy Tax
InterestExpensesForOccupancyTax
328000 USD
prsi Interest Expenses For Occupancy Tax
InterestExpensesForOccupancyTax
0 USD
CY2015Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2014Q2 us-gaap Common Stock No Par Value
CommonStockNoParValue
0
CY2014Q1 prsi Impairment Loss On Other Investments
ImpairmentLossOnOtherInvestments
0 USD
CY2015Q1 prsi Impairment Loss On Other Investments
ImpairmentLossOnOtherInvestments
145000 USD
prsi Impairment Loss On Other Investments
ImpairmentLossOnOtherInvestments
0 USD
prsi Impairment Loss On Other Investments
ImpairmentLossOnOtherInvestments
145000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
75000 USD
CY2015Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
145000 USD

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