2018 Q4 Form 10-Q Financial Statement

#000114420418059937 Filed on November 14, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $6.989M $6.953M $6.748M
YoY Change 2.43% 3.03% -11.89%
Cost Of Revenue $5.001M $5.005M $4.998M
YoY Change -1.71% 0.12% 5.34%
Gross Profit $1.988M $1.948M $1.749M
YoY Change 14.54% 11.35% 22.04%
Gross Profit Margin 28.45% 28.02% 25.93%
Selling, General & Admin $2.643M $2.171M $2.537M
YoY Change 10.5% -14.44% 33.69%
% of Gross Profit 132.93% 111.44% 145.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $11.12K $40.57K
YoY Change -80.0% -72.6% 33.15%
% of Gross Profit 0.5% 0.57% 2.32%
Operating Expenses $2.653M $2.182M $2.578M
YoY Change 8.8% -15.35% 33.68%
Operating Profit -$664.6K -$233.9K -$828.2K
YoY Change -5.39% -71.76% 67.42%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $23.76K $23.49K $9.802K
YoY Change 185.9% 139.59% 473.22%
Pretax Income -$640.8K -$210.4K -$818.4K
YoY Change -7.68% -74.29% 66.01%
Income Tax $7.442K $9.221K $11.75K
% Of Pretax Income
Net Earnings -$592.5K -$177.9K -$773.0K
YoY Change -5.13% -76.99% 88.22%
Net Earnings / Revenue -8.48% -2.56% -11.45%
Basic Earnings Per Share
Diluted Earnings Per Share -$24.80K -$7.614K -$32.93K
COMMON SHARES
Basic Shares Outstanding 24.23M shares 24.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.760M $4.530M $4.540M
YoY Change -3.25% -0.22% -30.9%
Cash & Equivalents $4.762M $4.527M $4.542M
Short-Term Investments
Other Short-Term Assets $880.0K $520.0K $880.0K
YoY Change -16.19% -40.91% 54.39%
Inventory
Prepaid Expenses
Receivables $3.968M $4.051M $4.308M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.608M $9.096M $9.727M
YoY Change -1.15% -6.48% -16.95%
LONG-TERM ASSETS
Property, Plant & Equipment $42.80K $49.33K $92.51K
YoY Change -90.27% -46.68% 15.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $250.4K $279.0K $390.7K
YoY Change -31.06% -28.59% 3806.69%
Total Long-Term Assets $307.5K $342.7K $529.3K
YoY Change -31.66% -35.24% 196.23%
TOTAL ASSETS
Total Short-Term Assets $9.608M $9.096M $9.727M
Total Long-Term Assets $307.5K $342.7K $529.3K
Total Assets $9.916M $9.439M $10.26M
YoY Change -2.5% -7.96% -13.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.660M $4.370M $4.680M
YoY Change -7.72% -6.62% -12.03%
Accrued Expenses $120.0K $120.0K $110.0K
YoY Change 0.0% 9.09%
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 $6.811M $6.124M $6.147M
YoY Change 5.11% -0.38% -0.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $150.0K $180.0K $300.0K
YoY Change -44.44% -40.0%
Total Long-Term Liabilities $150.0K $180.0K $300.0K
YoY Change -44.44% -40.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.811M $6.124M $6.147M
Total Long-Term Liabilities $150.0K $180.0K $300.0K
Total Liabilities $6.957M $6.301M $6.447M
YoY Change 3.13% -2.25% 4.14%
SHAREHOLDERS EQUITY
Retained Earnings -$20.33M -$19.73M -$18.65M
YoY Change 5.81% 16.61%
Common Stock $24.24K $24.16K $24.14K
YoY Change 0.09% 1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.959M $3.138M $3.809M
YoY Change
Total Liabilities & Shareholders Equity $9.916M $9.439M $10.26M
YoY Change -2.5% -7.96% -13.75%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$592.5K -$177.9K -$773.0K
YoY Change -5.13% -76.99% 88.22%
Depreciation, Depletion And Amortization $10.00K $11.12K $40.57K
YoY Change -80.0% -72.6% 33.15%
Cash From Operating Activities $280.0K -$300.1K -$1.146M
YoY Change -39.13% -73.81% -314.69%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $23.40K
YoY Change -100.0% 131.68%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$37.65K
YoY Change -100.0% 145.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $75.20K $39.67K
YoY Change 89.55% 49.55%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.00K -$75.20K -$39.67K
YoY Change -50.0% 89.55% 49.55%
NET CHANGE
Cash From Operating Activities 280.0K -$300.1K -$1.146M
Cash From Investing Activities 0.000 $0.00 -$37.65K
Cash From Financing Activities -30.00K -$75.20K -$39.67K
Net Change In Cash 250.0K -$375.3K -$1.223M
YoY Change -37.5% -69.31% -348.67%
FREE CASH FLOW
Cash From Operating Activities $280.0K -$300.1K -$1.146M
Capital Expenditures $0.00 $0.00 $23.40K
Free Cash Flow $280.0K -$300.1K -$1.169M
YoY Change -39.13% -74.33% -323.3%

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CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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CY2018Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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PreferredStockParOrStatedValuePerShare
0.001
CY2018Q2 us-gaap Preferred Stock Shares Authorized
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CY2018Q3 us-gaap Revenue Recognition Deferred Revenue
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CY2018Q3 us-gaap Concentration Risk Benchmark Description
ConcentrationRiskBenchmarkDescription
Less than 10%
CY2018Q3 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
the prime rate plus 5.25%
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0145 pure
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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1885000 shares
CY2018Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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CY2018Q3 rsss Intrinsic Value Of Warrant
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49785 USD
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100000 shares
CY2018Q3 dei Document Type
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10-Q
CY2018Q3 dei Amendment Flag
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false
CY2018Q3 dei Document Period End Date
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2018-09-30
CY2018Q3 dei Document Fiscal Year Focus
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2019
CY2018Q3 dei Document Fiscal Period Focus
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Q1
CY2018Q3 dei Entity Registrant Name
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Research Solutions, Inc.
CY2018Q3 dei Entity Central Index Key
EntityCentralIndexKey
0001386301
CY2018Q3 dei Current Fiscal Year End Date
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CY2018Q3 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2018Q3 dei Trading Symbol
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RSSS
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EntityCommonStockSharesOutstanding
24231991 shares
CY2018Q3 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018Q3 dei Entity Small Business
EntitySmallBusiness
true
CY2018Q3 us-gaap Concentration Risk Credit Risk
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