2021 Q2 Form 10-Q Financial Statement

#000143774921012765 Filed on May 19, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $2.240M $2.158M
YoY Change 2.0% -32.44%
Cost Of Revenue $1.096M $1.043M
YoY Change -8.05% -14.16%
Gross Profit $1.144M $1.115M
YoY Change 13.94% -43.66%
Gross Profit Margin 51.07% 51.67%
Selling, General & Admin $1.947M $1.879M
YoY Change 16.94% -23.18%
% of Gross Profit 170.19% 168.52%
Research & Development $1.887M $1.819M
YoY Change -14.23% -43.86%
% of Gross Profit 164.95% 163.14%
Depreciation & Amortization $160.0K $270.0K
YoY Change -27.27% -6.9%
% of Gross Profit 13.99% 24.22%
Operating Expenses $3.834M $4.177M
YoY Change -1.67% -26.56%
Operating Profit -$2.690M -$3.062M
YoY Change -7.08% -17.44%
Interest Expense $32.00K $80.00K
YoY Change -82.51% -3.61%
% of Operating Profit
Other Income/Expense, Net -$7.000K -$5.000K
YoY Change -109.72% -110.42%
Pretax Income -$1.537M -$3.147M
YoY Change -48.87% -15.95%
Income Tax $152.0K $18.00K
% Of Pretax Income
Net Earnings -$1.689M -$3.165M
YoY Change -43.3% -8.95%
Net Earnings / Revenue -75.4% -146.66%
Basic Earnings Per Share -$0.15
Diluted Earnings Per Share -$150.1K -$379.2K
COMMON SHARES
Basic Shares Outstanding 11.26K 8.379M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.90M $18.90M
YoY Change -20.83% -18.18%
Cash & Equivalents $20.90M $19.00M
Short-Term Investments
Other Short-Term Assets $1.367M $213.0K
YoY Change 631.02% -25.78%
Inventory $2.490M $3.100M
Prepaid Expenses $913.0K $1.072M
Receivables $1.302M $1.400M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.09M $24.70M
YoY Change -17.78% -20.39%
LONG-TERM ASSETS
Property, Plant & Equipment $631.0K $3.200M
YoY Change 6.77% 266.55%
Goodwill $185.0K
YoY Change 0.0%
Intangibles $833.0K $971.0K
YoY Change -10.81% -13.15%
Long-Term Investments
YoY Change
Other Assets $283.0K $300.0K
YoY Change -2.75% -25.0%
Total Long-Term Assets $4.659M $5.200M
YoY Change -4.63% 42.54%
TOTAL ASSETS
Total Short-Term Assets $26.09M $24.70M
Total Long-Term Assets $4.659M $5.200M
Total Assets $30.75M $29.90M
YoY Change -16.02% -13.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.400M $900.0K
YoY Change -12.5% -40.0%
Accrued Expenses $1.546M $2.000M
YoY Change 73.71% 16.28%
Deferred Revenue $166.0K
YoY Change
Short-Term Debt $15.00M $15.00M
YoY Change 0.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.80M $18.04M
YoY Change -0.01% -4.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $230.0K $1.600M
YoY Change -84.67% 433.33%
Total Long-Term Liabilities $230.0K $1.600M
YoY Change -89.55% 433.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.80M $18.04M
Total Long-Term Liabilities $230.0K $1.600M
Total Liabilities $20.07M $19.70M
YoY Change -4.42% 2.58%
SHAREHOLDERS EQUITY
Retained Earnings -$296.1M
YoY Change
Common Stock $11.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.68M $10.24M
YoY Change
Total Liabilities & Shareholders Equity $30.75M $29.90M
YoY Change -15.98% -13.77%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$1.689M -$3.165M
YoY Change -43.3% -8.95%
Depreciation, Depletion And Amortization $160.0K $270.0K
YoY Change -27.27% -6.9%
Cash From Operating Activities -$1.003M -$2.175M
YoY Change -28.36% -25.41%
INVESTING ACTIVITIES
Capital Expenditures $144.0K $37.00K
YoY Change -196.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$283.0K -$290.0K
YoY Change 88.67% 218.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $357.0K
YoY Change -100.0% 8825.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$527.0K -$85.00K
YoY Change -105.89% -64.14%
NET CHANGE
Cash From Operating Activities -$1.003M -$2.175M
Cash From Investing Activities -$283.0K -$290.0K
Cash From Financing Activities -$527.0K -$85.00K
Net Change In Cash -$1.813M -$2.550M
YoY Change -124.5% -21.39%
FREE CASH FLOW
Cash From Operating Activities -$1.003M -$2.175M
Capital Expenditures $144.0K $37.00K
Free Cash Flow -$1.147M -$2.212M
YoY Change -8.24% -26.92%

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InventoryRawMaterialsNetOfReserves
191000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
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InventoryWorkInProcessNetOfReserves
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765000 USD
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884000 USD
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454000 USD
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12898000 USD
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12267000 USD
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239000 USD
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180000 USD
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1066000 USD
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663000 USD
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578000 USD
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1546000 USD
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1340000 USD
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1700000 USD
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1800000 USD
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107000 USD
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147000 USD
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103000 USD
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141000 USD
CY2021Q2 us-gaap Short Term Lease Cost
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4000 USD
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6000 USD
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147000 USD
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98000 USD
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49000 USD
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7000 USD
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FinanceLeaseInterestPaymentOnLiability
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43000 USD
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FinanceLeasePrincipalPayments
60000 USD
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FinanceLeaseCost
105000 USD
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FinanceLeaseCost
56000 USD
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102000 USD
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153000 USD
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OperatingAndFinancingCashFlowsFromLeases
190000 USD
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0 USD
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FinanceLeaseRightOfUseAsset
607000 USD
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FinanceLeaseLiability
670000 USD
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OperatingAndFinanceLeaseLiability
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300000 USD
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FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
327000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
409000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
334000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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421000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
107000 USD
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FinanceLeaseLiabilityPaymentsDueYearThree
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2021Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
661000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
109000 USD
CY2021Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
35000 USD
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
626000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M26D
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y21D
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M15D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0550 pure
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0550 pure
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
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368000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
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CY2021Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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0 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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121000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.46
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y9M
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-0
CY2021Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2021Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
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-0
CY2021Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
121000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.46
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y1M13D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
121
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
28.46
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y1M13D
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
121
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
28.46
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P3Y1M13D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
152000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2240000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2158000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2240000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2158000 USD

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