$SGRP
SPAR Group, Inc.

2016 Q1 Form 10-Q Financial Statement

#000143774916032029 Filed on May 16, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $26.61M $29.27M
YoY Change -9.07% 4.37%
Cost Of Revenue $20.44M $22.35M
YoY Change -8.55% 2.49%
Gross Profit $6.169M $6.913M
YoY Change -10.76% 10.96%
Gross Profit Margin 23.18% 23.62%
Selling, General & Admin $5.513M $6.096M
YoY Change -9.56% 2.97%
% of Gross Profit 89.37% 88.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $488.0K $468.0K
YoY Change 4.27% 14.15%
% of Gross Profit 7.91% 6.77%
Operating Expenses $5.513M $6.096M
YoY Change -9.56% -3.7%
Operating Profit $168.0K $349.0K
YoY Change -51.86% -449.0%
Interest Expense $28.00K $58.00K
YoY Change -51.72% -245.0%
% of Operating Profit 16.67% 16.62%
Other Income/Expense, Net $24.00K $29.00K
YoY Change -17.24% -42.0%
Pretax Income $160.0K $320.0K
YoY Change -50.0% -420.0%
Income Tax $5.000K $151.0K
% Of Pretax Income 3.13% 47.19%
Net Earnings -$139.0K -$74.00K
YoY Change 87.84% -80.0%
Net Earnings / Revenue -0.52% -0.25%
Basic Earnings Per Share
Diluted Earnings Per Share -$6.809K -$3.405K
COMMON SHARES
Basic Shares Outstanding 20.56M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.030M $4.290M
YoY Change 63.87% 1.18%
Cash & Equivalents $7.033M $4.292M
Short-Term Investments
Other Short-Term Assets $1.200M $1.010M
YoY Change 18.81% 17.44%
Inventory
Prepaid Expenses
Receivables $20.29M $24.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $28.52M $30.20M
YoY Change -5.56% 17.42%
LONG-TERM ASSETS
Property, Plant & Equipment $2.459M $2.460M
YoY Change -0.04% 16.59%
Goodwill $1.800M
YoY Change
Intangibles $2.418M
YoY Change
Long-Term Investments
YoY Change
Other Assets $857.0K $5.170M
YoY Change -83.42% 111.02%
Total Long-Term Assets $14.05M $12.40M
YoY Change 13.28% 46.05%
TOTAL ASSETS
Total Short-Term Assets $28.52M $30.20M
Total Long-Term Assets $14.05M $12.40M
Total Assets $42.57M $42.60M
YoY Change -0.08% 24.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.024M $3.750M
YoY Change 7.31% -3.6%
Accrued Expenses $7.190M $7.850M
YoY Change -8.41% 3.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $304.0K $680.0K
YoY Change -55.29% 580.0%
Total Short-Term Liabilities $14.67M $14.38M
YoY Change 2.01% 20.13%
LONG-TERM LIABILITIES
Long-Term Debt $4.027M $5.400M
YoY Change -25.43% 46.74%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.027M $5.400M
YoY Change -25.43% 46.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.67M $14.38M
Total Long-Term Liabilities $4.027M $5.400M
Total Liabilities $18.70M $24.47M
YoY Change -23.6% 31.98%
SHAREHOLDERS EQUITY
Retained Earnings $5.523M
YoY Change
Common Stock $207.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $164.0K
YoY Change
Treasury Stock Shares $116.4K
Shareholders Equity $19.72M $18.12M
YoY Change
Total Liabilities & Shareholders Equity $42.57M $42.60M
YoY Change -0.08% 24.52%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$139.0K -$74.00K
YoY Change 87.84% -80.0%
Depreciation, Depletion And Amortization $488.0K $468.0K
YoY Change 4.27% 14.15%
Cash From Operating Activities $4.419M $1.442M
YoY Change 206.45% -41.62%
INVESTING ACTIVITIES
Capital Expenditures -$370.0K -$580.0K
YoY Change -36.21% 61.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$372.0K -$584.0K
YoY Change -36.3% 62.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.160M -432.0K
YoY Change 400.0% -37.39%
NET CHANGE
Cash From Operating Activities 4.419M 1.442M
Cash From Investing Activities -372.0K -584.0K
Cash From Financing Activities -2.160M -432.0K
Net Change In Cash 1.887M 426.0K
YoY Change 342.96% -70.0%
FREE CASH FLOW
Cash From Operating Activities $4.419M $1.442M
Capital Expenditures -$370.0K -$580.0K
Free Cash Flow $4.789M $2.022M
YoY Change 136.84% -28.55%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business and Organization</div></div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company is a supplier of merchandising and other marketing services throughout the United States and internationally. The Company also provides in-store event staffing, product sampling, audit services, furniture and other product assembly services, technology services and marketing research services. Assembly services are performed in stores, homes and offices while those other services are primarily performed in mass merchandisers, office supply, grocery, drug store, home improvement, independent, convenience and electronics stores.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Merchandising services primarily consist of regularly scheduled, special project and other product services provided at the store level, and the Company may be engaged by either the retailer or the manufacturer. Those services may include restocking and adding new products, removing spoiled or outdated products, resetting categories &quot;on the shelf&quot; in accordance with client or store schematics, confirming and replacing shelf tags, setting new sale or promotional product displays and advertising, replenishing kiosks, providing in-store event staffing and providing assembly services in stores, homes and offices. Other merchandising services include whole store or departmental product sets or resets, including new store openings, new product launches and in-store demonstrations, audit services, special seasonal or promotional merchandising, focused product support and product recalls. The Company also provides technology services and marketing research services.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of March 31, 2016, the Company operates in 9 countries and divides its operations into two reportable segments: its Domestic Division, which provides those services in the United States of America since certain of its predecessors were formed in 1979, and its International Division, which began operations in May 2001 and provides similar merchandising, marketing, audit and in-store event staffing services in Japan, Canada, South Africa, India, China, Australia, Mexico and Turkey. </div></div></div>
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18702000
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
23871000
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
24398000
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
116370
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
119695
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
164000
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
169000
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20563000
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20562000

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