2019 Q3 Form 10-Q Financial Statement

#000093905719000414 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $9.641M $8.507M $8.029M
YoY Change 13.33% 9.74% 8.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $644.8K $575.8K $557.4K
YoY Change 11.99% 1.04% 10.15%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $2.291M $1.430M $1.286M
YoY Change 60.21% 30.36% 26.45%
% of Operating Profit
Other Income/Expense, Net $1.053M $1.172M $1.347M
YoY Change -10.11% -7.63% 16.07%
Pretax Income $2.694M $2.579M $2.247M
YoY Change 4.46% 9.84% 14.58%
Income Tax $475.0K $471.0K $427.0K
% Of Pretax Income 17.63% 18.26% 19.0%
Net Earnings $1.064M $2.108M $1.820M
YoY Change -49.52% 10.77% 23.14%
Net Earnings / Revenue 11.04% 24.78% 22.67%
Basic Earnings Per Share $0.75 $0.71 $0.62
Diluted Earnings Per Share $0.71 $0.68 $0.59
COMMON SHARES
Basic Shares Outstanding 2.956M shares 2.953M shares 2.953M shares
Diluted Shares Outstanding 3.258M shares 3.257M shares 3.257M shares

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $13.79M $20.11M $17.13M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $26.38M $24.06M $22.98M
YoY Change 9.63% 5.23% -0.66%
Goodwill $1.200M $1.200M $1.200M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $991.3M $902.2M $893.7M
YoY Change 9.87% 4.77% 4.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $2.800M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $15.00M $12.70M $14.10M
YoY Change 18.11% 2.42% 9.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.800M $12.70M $14.10M
YoY Change -77.95% 2.42% 9.3%
LONG-TERM LIABILITIES
Long-Term Debt $11.20M $15.10M $16.30M
YoY Change -25.83% -27.75% -26.58%
Other Long-Term Liabilities $6.900M $6.900M $6.800M
YoY Change 0.0% 2.99% 19.3%
Total Long-Term Liabilities $18.10M $22.00M $23.10M
YoY Change -17.73% -20.29% -17.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.800M $12.70M $14.10M
Total Long-Term Liabilities $18.10M $22.00M $23.10M
Total Liabilities $899.0M $825.3M $816.8M
YoY Change 8.92% 5.38% 4.64%
SHAREHOLDERS EQUITY
Retained Earnings $77.98M $71.33M $69.48M
YoY Change 9.32% 7.36% 7.24%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.331M $4.331M $4.331M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 200.9K shares 200.9K shares 200.9K shares
Shareholders Equity $96.26M $76.89M $76.95M
YoY Change
Total Liabilities & Shareholders Equity $991.3M $902.2M $893.7M
YoY Change 9.87% 4.77% 4.29%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $1.064M $2.108M $1.820M
YoY Change -49.52% 10.77% 23.14%
Depreciation, Depletion And Amortization $644.8K $575.8K $557.4K
YoY Change 11.99% 1.04% 10.15%
Cash From Operating Activities $3.550M $5.490M $2.530M
YoY Change -35.34% -13.95% -560.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.260M -$1.450M -$480.0K
YoY Change -13.1% 1015.38% -74.33%
Acquisitions
YoY Change
Other Investing Activities -$13.74M -$9.170M -$20.79M
YoY Change 49.84% 165.03% 0.78%
Cash From Investing Activities -$15.01M -$10.61M -$21.28M
YoY Change 41.47% 195.54% -5.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.22M 8.110M 20.27M
YoY Change 75.34% 487.68% 284.63%
NET CHANGE
Cash From Operating Activities 3.550M 5.490M 2.530M
Cash From Investing Activities -15.01M -10.61M -21.28M
Cash From Financing Activities 14.22M 8.110M 20.27M
Net Change In Cash 2.760M 2.990M 1.520M
YoY Change -7.69% -28.3% -108.55%
FREE CASH FLOW
Cash From Operating Activities $3.550M $5.490M $2.530M
Capital Expenditures -$1.260M -$1.450M -$480.0K
Free Cash Flow $4.810M $6.940M $3.010M
YoY Change -30.69% 6.61% 128.03%

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1062542 USD
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272880 USD
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5155000 USD
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CY2019Q3 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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0 USD
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0 USD
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828312 USD
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134725 USD
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23249400 USD
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us-gaap Impaired Financing Receivable Interest Income Accrual Method
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CY2019Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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us-gaap Impaired Financing Receivable Interest Income Accrual Method
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42709 USD
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9364125 USD
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4323060 USD
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5919316 USD
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2578937 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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6956218 USD
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2694211 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2018Q3 us-gaap Income Tax Expense Benefit
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474744 USD
us-gaap Income Tax Expense Benefit
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1480792 USD
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129675 USD
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394763 USD
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-11356 USD
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10135 USD
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2019Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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0.04 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Insurance Commissions And Fees
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525153 USD
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201253 USD
us-gaap Insurance Commissions And Fees
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528246 USD
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35515 USD
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us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest Expense
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6074505 USD
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706590 USD
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1856348 USD
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1204990 USD
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3181783 USD
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14120 USD
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38420 USD
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18753 USD
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53947 USD
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0 USD
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363840 USD
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21726059 USD
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CY2018Q4 us-gaap Investment In Federal Home Loan Bank Stock Fair Value Disclosure
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2204000 USD
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2853000 USD
CY2018Q3 us-gaap Investment Income Interest And Dividend
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us-gaap Investment Income Interest And Dividend
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CY2019Q3 us-gaap Investment Income Interest And Dividend
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1459810 USD
us-gaap Investment Income Interest And Dividend
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4307922 USD
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Investments
409893850 USD
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Investments
459660034 USD
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5155000 USD
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us-gaap Labor And Related Expense
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4270515 USD
us-gaap Labor And Related Expense
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12587421 USD
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CY2019Q3 us-gaap Liabilities
Liabilities
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CY2018Q4 us-gaap Liabilities And Stockholders Equity
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912614259 USD
CY2019Q3 us-gaap Liabilities And Stockholders Equity
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991261484 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
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405000 USD
us-gaap Life Insurance Corporate Or Bank Owned Change In Value
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405000 USD
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
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3256540 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3258356 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3257646 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2953424 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2953340 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2956156 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2955446 shares
sfdl Schedule Of Allowance For Loan Losses
ScheduleOfAllowanceForLoanLosses
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font></div></div>
us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and accounting principles generally accepted in the United States of America ("GAAP"); therefore, they do not include all disclosures necessary for a complete presentation of financial condition, results of operations, and cash flows.&#160;&#160;Such statements are unaudited but, in the opinion of management, reflect all adjustments, which are of a normal recurring nature and necessary for a fair presentation of results for the selected interim periods.&#160;&#160;Users of financial information produced for interim periods are encouraged to refer to the footnotes contained in the audited consolidated financial statements appearing in Security Federal Corporation&#8217;s (the &#8220;Company&#8221;) 2018 Annual Report to Shareholders which was filed as an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2018 (&#8220;2018 Form 10-K&#8221;) when reviewing interim financial statements.&#160;</font></div></div>

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0000939057-19-000414.txt Edgar Link pending
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sfdl-20190930.xml Edgar Link completed
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