2018 Q3 Form 10-Q Financial Statement

#000114420418049175 Filed on September 12, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $13.85M $7.808M
YoY Change 77.38% 2.2%
Cost Of Revenue $9.294M $5.592M
YoY Change 66.2% 1.43%
Gross Profit $4.556M $2.216M
YoY Change 105.6% 4.18%
Gross Profit Margin 32.9% 28.38%
Selling, General & Admin $2.121M $1.817M
YoY Change 16.73% -29.49%
% of Gross Profit 46.55% 81.99%
Research & Development $292.0K $215.0K
YoY Change 35.81% -0.92%
% of Gross Profit 6.41% 9.7%
Depreciation & Amortization $130.0K $220.0K
YoY Change -40.91% -8.33%
% of Gross Profit 2.85% 9.93%
Operating Expenses $2.413M $2.032M
YoY Change 18.75% -27.27%
Operating Profit $2.143M $184.0K
YoY Change 1064.67% -127.59%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $13.00K $5.000K
YoY Change 160.0% -115.63%
Pretax Income $2.156M $189.0K
YoY Change 1040.74% -127.04%
Income Tax $425.0K $18.00K
% Of Pretax Income 19.71% 9.52%
Net Earnings $1.731M $192.0K
YoY Change 801.56% -132.16%
Net Earnings / Revenue 12.5% 2.46%
Basic Earnings Per Share $0.19 $0.02
Diluted Earnings Per Share $0.18 $0.02
COMMON SHARES
Basic Shares Outstanding 9.202M shares 8.838M shares
Diluted Shares Outstanding 9.730M shares 8.916M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.59M $5.500M
YoY Change 110.73% 18.28%
Cash & Equivalents $11.59M $5.498M
Short-Term Investments
Other Short-Term Assets $854.0K $650.0K
YoY Change 31.38% -57.38%
Inventory $6.854M $6.480M
Prepaid Expenses $357.0K $351.0K
Receivables $5.888M $3.790M
Other Receivables $0.00 $90.00K
Total Short-Term Assets $25.19M $16.50M
YoY Change 52.65% -5.23%
LONG-TERM ASSETS
Property, Plant & Equipment $606.0K $670.0K
YoY Change -9.55% -28.57%
Goodwill $3.219M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $49.00K $90.00K
YoY Change -45.56% -43.75%
Total Long-Term Assets $7.726M $8.390M
YoY Change -7.91% -31.0%
TOTAL ASSETS
Total Short-Term Assets $25.19M $16.50M
Total Long-Term Assets $7.726M $8.390M
Total Assets $32.91M $24.89M
YoY Change 32.23% -15.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.842M $1.220M
YoY Change 50.98% 4.1%
Accrued Expenses $3.490M $1.280M
YoY Change 172.66% -4.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.332M $3.360M
YoY Change 58.69% -9.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.332M $3.360M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $5.518M $3.790M
YoY Change 45.59% -24.44%
SHAREHOLDERS EQUITY
Retained Earnings $6.445M
YoY Change
Common Stock $20.95M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.40M $21.10M
YoY Change
Total Liabilities & Shareholders Equity $32.91M $24.89M
YoY Change 32.23% -15.81%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $1.731M $192.0K
YoY Change 801.56% -132.16%
Depreciation, Depletion And Amortization $130.0K $220.0K
YoY Change -40.91% -8.33%
Cash From Operating Activities $2.750M $1.350M
YoY Change 103.7% -1225.0%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$10.00K
YoY Change 600.0% -95.83%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$60.00K -$10.00K
YoY Change 500.0% -95.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 420.0K -150.0K
YoY Change -380.0% 1400.0%
NET CHANGE
Cash From Operating Activities 2.750M 1.350M
Cash From Investing Activities -60.00K -10.00K
Cash From Financing Activities 420.0K -150.0K
Net Change In Cash 3.110M 1.190M
YoY Change 161.34% -421.62%
FREE CASH FLOW
Cash From Operating Activities $2.750M $1.350M
Capital Expenditures -$70.00K -$10.00K
Free Cash Flow $2.820M $1.360M
YoY Change 107.35% 1033.33%

Facts In Submission

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CY2018Q3 us-gaap Liabilities
Liabilities
5518000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
3717000 USD
CY2018Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
486000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
86000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.19
CY2017Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.02
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.60
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.00
CY2018Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.00
CY2017Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.01
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
49000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
70000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1248000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-637000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-128000 USD
CY2018Q3 us-gaap Assets
Assets
32913000 USD
CY2017Q4 us-gaap Assets
Assets
25060000 USD
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5191000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
813000 USD
CY2018Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.18
CY2017Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.02
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.57
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.00
CY2018Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.00
CY2017Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.01
CY2018Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
1842000 USD
CY2017Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1356000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M1D
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
148000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y3M29D
CY2018Q3 us-gaap Liabilities Current
LiabilitiesCurrent
5332000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3598000 USD
CY2018Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
186000 USD
CY2017Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
119000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P4Y7M24D
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1018000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
25000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4461000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
544000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
530000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
474000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-529000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
6583000 USD
CY2018Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
305000 USD
CY2018Q3 us-gaap Common Stock Value
CommonStockValue
93000 USD
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
89000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
5552000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
240000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5258000 USD
CY2018Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
20857000 USD
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
19654000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P6Y0M7D
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6445000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1600000 USD
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5498000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1503000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
31000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
27395000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
21343000 USD
CY2018Q1 rfil Nonemployee Director Annual Grant
NonemployeeDirectorAnnualGrant
50000 USD
CY2018Q1 us-gaap Share Price
SharePrice
0.659
CY2018Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
32913000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
25060000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
57000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
62000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-44000 USD
rfil Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.0187 pure
rfil Fair Value Assumption Risk Free Interest Rate
FairValueAssumptionRiskFreeInterestRate
0.012 pure
rfil Fair Value Assumption Weighted Average Expected Dividend
FairValueAssumptionWeightedAverageExpectedDividend
0.0328 pure
rfil Fair Value Assumption Weighted Average Expected Dividend
FairValueAssumptionWeightedAverageExpectedDividend
0.05 pure
rfil Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P4Y6M14D
rfil Fair Value Assumption Expected Term
FairValueAssumptionExpectedTerm
P4Y3M22D
rfil Fair Value Assumption Weighted Average Volatility Rate
FairValueAssumptionWeightedAverageVolatilityRate
0.4683 pure
rfil Fair Value Assumption Weighted Average Volatility Rate
FairValueAssumptionWeightedAverageVolatilityRate
0.433 pure
CY2017Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
215000 USD
CY2018Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
212000 USD
CY2018Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Quantity Of Securities Issued
ShareBasedGoodsAndNonemployeeServicesTransactionQuantityOfSecuritiesIssued
37927 shares
CY2018Q1 rfil Share Based Goods And Non Employee Services Transaction Value Of Stock Option Issued
ShareBasedGoodsAndNonEmployeeServicesTransactionValueOfStockOptionIssued
25000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
12000 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P5Y

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