2020 Q2 Form 10-Q Financial Statement

#000143774920012892 Filed on June 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $10.39M $13.63M $10.65M
YoY Change -23.75% -33.58% 33.66%
Cost Of Revenue $7.804M $9.532M $7.502M
YoY Change -18.13% -25.92% 36.33%
Gross Profit $2.586M $4.094M $3.145M
YoY Change -36.83% -46.47% 27.69%
Gross Profit Margin 24.89% 30.05% 29.54%
Selling, General & Admin $2.246M $2.400M $2.039M
YoY Change -6.42% -21.49% 14.29%
% of Gross Profit 86.85% 58.62% 64.83%
Research & Development $528.0K $332.0K $320.0K
YoY Change 59.04% -47.39% -0.31%
% of Gross Profit 20.42% 8.11% 10.17%
Depreciation & Amortization $250.0K $140.0K $140.0K
YoY Change 78.57% 16.67% 7.69%
% of Gross Profit 9.67% 3.42% 4.45%
Operating Expenses $2.774M $2.732M $2.359M
YoY Change 1.54% -25.92% 12.07%
Operating Profit -$188.0K $1.362M $786.0K
YoY Change -113.8% -65.61% 119.55%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $7.000K $14.00K $22.00K
YoY Change -50.0% 250.0% 1000.0%
Pretax Income -$181.0K $1.376M $808.0K
YoY Change -113.15% -65.29% 124.44%
Income Tax $3.000K $315.0K $168.0K
% Of Pretax Income 22.89% 20.79%
Net Earnings -$184.0K $1.061M $640.0K
YoY Change -117.34% -66.89% 40.97%
Net Earnings / Revenue -1.77% 7.79% 6.01%
Basic Earnings Per Share -$0.02 $0.11 $0.07
Diluted Earnings Per Share -$0.02 $0.11 $0.07
COMMON SHARES
Basic Shares Outstanding 9.705M 9.357M 9.309M
Diluted Shares Outstanding 9.705M 9.838M 9.838M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.08M $13.86M $14.02M
YoY Change 1.59% 63.25% 138.44%
Cash & Equivalents $14.08M $13.86M $14.02M
Short-Term Investments
Other Short-Term Assets $1.121M $736.0K $781.0K
YoY Change 52.31% 30.27% 16.57%
Inventory $9.100M $7.932M $8.169M
Prepaid Expenses $436.0K $464.0K $365.0K
Receivables $4.950M $7.938M $5.633M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.25M $30.46M $28.60M
YoY Change -3.99% 9.28% 51.88%
LONG-TERM ASSETS
Property, Plant & Equipment $797.0K $649.0K $564.0K
YoY Change 22.8% 6.22% -10.48%
Goodwill $2.697M $1.340M $1.340M
YoY Change 101.27% -58.37%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $69.00K $68.00K $49.00K
YoY Change 1.47% 38.78% -2.0%
Total Long-Term Assets $10.17M $3.943M $3.908M
YoY Change 157.8% -49.89% -51.28%
TOTAL ASSETS
Total Short-Term Assets $29.25M $30.46M $28.60M
Total Long-Term Assets $10.17M $3.943M $3.908M
Total Assets $39.41M $34.41M $32.51M
YoY Change 14.55% -3.74% 21.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.454M $1.580M $1.744M
YoY Change -7.97% -73.38% -16.99%
Accrued Expenses $3.305M $3.078M $2.059M
YoY Change 7.37% -22.76% -23.74%
Deferred Revenue $258.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.736M $4.658M $3.803M
YoY Change 23.14% -55.33% -22.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $869.0K $87.00K
YoY Change 898.85%
Total Long-Term Liabilities $869.0K $87.00K $0.00
YoY Change 898.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.736M $4.658M $3.803M
Total Long-Term Liabilities $869.0K $87.00K $0.00
Total Liabilities $7.719M $4.745M $3.814M
YoY Change 62.68% -55.05% -23.69%
SHAREHOLDERS EQUITY
Retained Earnings $8.943M $8.044M $7.170M
YoY Change 11.18% 64.23% 281.79%
Common Stock $22.75M $21.62M $21.52M
YoY Change 5.25% 6.55% 7.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.69M $29.66M $28.69M
YoY Change
Total Liabilities & Shareholders Equity $39.41M $34.41M $32.51M
YoY Change 14.55% -3.74% 21.06%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$184.0K $1.061M $640.0K
YoY Change -117.34% -66.89% 40.97%
Depreciation, Depletion And Amortization $250.0K $140.0K $140.0K
YoY Change 78.57% 16.67% 7.69%
Cash From Operating Activities -$140.0K $590.0K -$2.400M
YoY Change -123.73% -77.22% 1478.95%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$130.0K $73.00K
YoY Change -92.31% 116.67% 231.82%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$460.0K $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$10.00K -$590.0K -$70.00K
YoY Change -98.31% 883.33% -683.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -160.0K -180.0K 156.0K
YoY Change -11.11% -357.14% -921.05%
NET CHANGE
Cash From Operating Activities -140.0K 590.0K -2.400M
Cash From Investing Activities -10.00K -590.0K -70.00K
Cash From Financing Activities -160.0K -180.0K 156.0K
Net Change In Cash -310.0K -180.0K 156.0K
YoY Change 72.22% -106.92% -198.11%
FREE CASH FLOW
Cash From Operating Activities -$140.0K $590.0K -$2.400M
Capital Expenditures -$10.00K -$130.0K $73.00K
Free Cash Flow -$130.0K $720.0K -$2.473M
YoY Change -118.06% -72.83% 1321.26%

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us-gaap Share Based Compensation
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ShareBasedCompensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.5525
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0157
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
791518
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.62
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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4.61
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y171D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P5Y350D
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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719000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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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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us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2018Q4 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2019Q1 us-gaap Stockholders Equity
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CY2020Q2 us-gaap Unrecognized Tax Benefits
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118000
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80000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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9704880
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9837964
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9633935
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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9837718
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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9704880
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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9633935
us-gaap Weighted Average Number Of Shares Outstanding Basic
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9332665

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