2017 Q3 Form 10-Q Financial Statement

#000162828017010548 Filed on November 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4
Revenue $73.81M $71.13M
YoY Change -5.37% 0.68%
Cost Of Revenue $51.93M $51.08M
YoY Change -4.36% 2.97%
Gross Profit $21.88M $21.44M
YoY Change -7.7% 1.91%
Gross Profit Margin 29.64% 30.15%
Selling, General & Admin $13.75M $14.51M
YoY Change -8.11% -3.13%
% of Gross Profit 62.86% 67.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.750M $1.897M
YoY Change -5.56% 1.88%
% of Gross Profit 8.0% 8.85%
Operating Expenses $20.55M $21.73M
YoY Change -7.17% 2.2%
Operating Profit $1.332M $146.0K
YoY Change -15.11% -165.77%
Interest Expense $400.0K $291.0K
YoY Change 59.36% 5.05%
% of Operating Profit 30.03% 199.32%
Other Income/Expense, Net -$385.0K -$283.0K
YoY Change 60.42% 5.2%
Pretax Income $947.0K -$182.0K
YoY Change -28.74% -62.93%
Income Tax $28.00K -$2.000K
% Of Pretax Income 2.96%
Net Earnings $919.0K -$1.914M
YoY Change 34.95% -24025.0%
Net Earnings / Revenue 1.25% -2.69%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share $674.2K -$0.04
COMMON SHARES
Basic Shares Outstanding 35.86M shares 34.88M shares
Diluted Shares Outstanding 39.49M shares 34.88M shares

Balance Sheet

Concept 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.900M $7.500M
YoY Change 98.0% 31.58%
Cash & Equivalents $6.673M $6.643M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $3.015M $2.815M
YoY Change -13.59% -15.67%
Inventory $53.72M $50.90M
Prepaid Expenses
Receivables $2.930M $3.266M
Other Receivables $0.00 $0.00
Total Short-Term Assets $66.34M $63.66M
YoY Change 18.74% 8.25%
LONG-TERM ASSETS
Property, Plant & Equipment $15.18M $16.48M
YoY Change -15.2% -11.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $798.0K $1.029M
YoY Change -34.16% -33.83%
Total Long-Term Assets $42.56M $18.48M
YoY Change 109.15% -13.89%
TOTAL ASSETS
Total Short-Term Assets $66.34M $63.66M
Total Long-Term Assets $42.56M $18.48M
Total Assets $108.9M $82.13M
YoY Change 42.88% 2.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.32M $33.70M
YoY Change 40.59% 35.86%
Accrued Expenses $8.069M $6.860M
YoY Change 8.28% -8.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $600.0K $500.0K
YoY Change 20.0% -16.67%
Total Short-Term Liabilities $51.50M $46.79M
YoY Change 33.07% 3.34%
LONG-TERM LIABILITIES
Long-Term Debt $9.500M $9.900M
YoY Change -5.94% -3.88%
Other Long-Term Liabilities $2.242M $2.097M
YoY Change 33.69% 26.4%
Total Long-Term Liabilities $2.242M $2.097M
YoY Change 33.69% 26.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.50M $46.79M
Total Long-Term Liabilities $2.242M $2.097M
Total Liabilities $63.07M $58.81M
YoY Change 23.37% 1.13%
SHAREHOLDERS EQUITY
Retained Earnings -$128.9M -$156.5M
YoY Change -16.84% 0.02%
Common Stock $179.3M $180.2M
YoY Change 0.54% 2.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.167M $1.376M
YoY Change
Treasury Stock Shares 445.0K shares
Shareholders Equity $45.83M $22.85M
YoY Change
Total Liabilities & Shareholders Equity $108.9M $82.13M
YoY Change 42.88% 2.33%

Cashflow Statement

Concept 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $919.0K -$1.914M
YoY Change 34.95% -24025.0%
Depreciation, Depletion And Amortization $1.750M $1.897M
YoY Change -5.56% 1.88%
Cash From Operating Activities $4.910M $4.290M
YoY Change 3.15% 398.84%
INVESTING ACTIVITIES
Capital Expenditures -$1.230M $1.683M
YoY Change -176.35% -14.48%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$1.240M -$1.690M
YoY Change -22.98% -14.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.376M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -940.0K 10.00K
YoY Change -66.06% -95.24%
NET CHANGE
Cash From Operating Activities 4.910M 4.290M
Cash From Investing Activities -1.240M -1.690M
Cash From Financing Activities -940.0K 10.00K
Net Change In Cash 2.730M 2.610M
YoY Change 618.42% -390.0%
FREE CASH FLOW
Cash From Operating Activities $4.910M $4.290M
Capital Expenditures -$1.230M $1.683M
Free Cash Flow $6.140M $2.607M
YoY Change 94.98% -335.29%

Facts In Submission

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53719000 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
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6000 USD
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
7000 USD
CY2016Q4 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
437000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1241000 USD
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LeaseAndRentalExpense
430000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1289000 USD
CY2016Q4 us-gaap Liabilities
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58812000 USD
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63071000 USD
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82134000 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
108900000 USD
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46789000 USD
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51504000 USD
CY2016Q4 us-gaap Marketing Expense
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10158000 USD
us-gaap Marketing Expense
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31376000 USD
CY2017Q3 us-gaap Marketing Expense
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9476000 USD
us-gaap Marketing Expense
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30038000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
469000 USD
CY2017Q3 us-gaap Minority Interest
MinorityInterest
0 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-12604000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-8381000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4695000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3633000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
19296000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
12074000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
-360000 USD
us-gaap Net Income Loss
NetIncomeLoss
1311000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
919000 USD
us-gaap Net Income Loss
NetIncomeLoss
28094000 USD
CY2016Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
297000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2988000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
878000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28504000 USD
CY2016Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-283000 USD
us-gaap Nonoperating Income Expense
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-864000 USD
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-385000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1197000 USD
CY2016 us-gaap Number Of Reportable Segments
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2 segment
CY2016Q4 us-gaap Operating Expenses
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21732000 USD
us-gaap Operating Expenses
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66485000 USD
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
20545000 USD
us-gaap Operating Expenses
OperatingExpenses
64862000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
639000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4119000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-100000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1332000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4046000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
3629000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
36000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
728000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1349000 USD
CY2017Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1516000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2815000 USD
CY2017Q3 us-gaap Other Assets Current
OtherAssetsCurrent
3015000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1029000 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
798000 USD
CY2016Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-16000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-29000 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
9000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
6000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-16000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-29000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
9000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1972000 USD
CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2395000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2097000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2242000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
25000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
50000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3823000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
61000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
169000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
969000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1644000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
125000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4570000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3672000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2485000 USD
CY2016Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
61000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
180000 USD
CY2017Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
41000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
149000 USD
CY2016Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
4000 USD
CY2017Q3 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
3000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
11976000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3750000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
73452000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
232197000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
73807000 USD
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ProceedsFromPaymentsForOtherFinancingActivities
-100000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
39000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
734000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
258000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16478000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15179000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
23735000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3750000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
449000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
418000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-156520000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-128854000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
234848000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2475000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2198000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
361000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
161000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1445000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1074000 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
22853000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
45829000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23322000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
45829000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1376000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
5167000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2017Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-27248000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-27248000 USD
CY2016Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5659000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
5348000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3629000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4625000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40591000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40076000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39485000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39858000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34932000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34728000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35856000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35233000 shares

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