2019 Q4 Form 10-Q Financial Statement

#000009016820000009 Filed on February 18, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $26.21M $29.07M
YoY Change -9.84% 19.86%
Cost Of Revenue $22.88M $26.33M
YoY Change -13.09% 18.49%
Gross Profit $3.324M $2.737M
YoY Change 21.45% 34.89%
Gross Profit Margin 12.68% 9.42%
Selling, General & Admin $4.208M $4.111M
YoY Change 2.36% 0.96%
% of Gross Profit 126.59% 150.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.856M $1.930M
YoY Change -3.83% -11.91%
% of Gross Profit 55.84% 70.52%
Operating Expenses $4.208M $4.111M
YoY Change 2.36% 0.96%
Operating Profit -$1.293M -$1.506M
YoY Change -14.14% 41.01%
Interest Expense $251.0K $292.0K
YoY Change -14.04% -34.23%
% of Operating Profit
Other Income/Expense, Net $108.0K $0.00
YoY Change -100.0%
Pretax Income -$1.437M -$1.796M
YoY Change -19.99% 56.04%
Income Tax -$95.00K -$514.0K
% Of Pretax Income
Net Earnings -$1.342M -$1.282M
YoY Change 4.68% 40.72%
Net Earnings / Revenue -5.12% -4.41%
Basic Earnings Per Share -$0.24 -$0.23
Diluted Earnings Per Share -$0.24 -$0.23
COMMON SHARES
Basic Shares Outstanding 5.612M shares 5.535M shares
Diluted Shares Outstanding 5.612M shares 5.535M shares

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $429.0K $921.0K
YoY Change -53.42% -16.27%
Cash & Equivalents $429.0K $921.0K
Short-Term Investments
Other Short-Term Assets $1.556M $1.458M
YoY Change 6.72% -49.72%
Inventory $12.25M $11.73M
Prepaid Expenses
Receivables $31.11M $36.10M
Other Receivables $170.0K $1.360M
Total Short-Term Assets $45.64M $52.22M
YoY Change -12.59% 2.28%
LONG-TERM ASSETS
Property, Plant & Equipment $41.45M $33.77M
YoY Change 22.74% -13.09%
Goodwill $3.493M $11.82M
YoY Change -70.44% -3.97%
Intangibles $2.948M $4.611M
YoY Change -36.07% -28.31%
Long-Term Investments
YoY Change
Other Assets $205.0K $175.0K
YoY Change 17.14% -22.22%
Total Long-Term Assets $65.84M $50.37M
YoY Change 30.71% -12.88%
TOTAL ASSETS
Total Short-Term Assets $45.64M $52.22M
Total Long-Term Assets $65.84M $50.37M
Total Assets $111.5M $102.6M
YoY Change 8.67% -5.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.28M $14.21M
YoY Change 21.58% 21.08%
Accrued Expenses $6.089M $5.167M
YoY Change 17.84% -27.59%
Deferred Revenue $0.00 $0.00
YoY Change
Short-Term Debt $16.63M $20.98M
YoY Change -20.74% 11.87%
Long-Term Debt Due $4.795M $6.238M
YoY Change -23.13% -22.84%
Total Short-Term Liabilities $45.94M $46.60M
YoY Change -1.42% 1.94%
LONG-TERM LIABILITIES
Long-Term Debt $1.980M $1.944M
YoY Change 1.85% -56.89%
Other Long-Term Liabilities $782.0K $70.00K
YoY Change 1017.14% -52.7%
Total Long-Term Liabilities $2.762M $2.014M
YoY Change 37.14% -56.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.94M $46.60M
Total Long-Term Liabilities $2.762M $2.014M
Total Liabilities $48.70M $48.61M
YoY Change 0.18% -3.49%
SHAREHOLDERS EQUITY
Retained Earnings $31.81M $40.70M
YoY Change -21.84% -6.14%
Common Stock $5.863M $5.736M
YoY Change 2.21% 1.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.25M $46.42M
YoY Change
Total Liabilities & Shareholders Equity $111.5M $102.6M
YoY Change 8.67% -5.77%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.342M -$1.282M
YoY Change 4.68% 40.72%
Depreciation, Depletion And Amortization $1.856M $1.930M
YoY Change -3.83% -11.91%
Cash From Operating Activities -$965.0K $406.0K
YoY Change -337.68% -11.35%
INVESTING ACTIVITIES
Capital Expenditures -$2.303M -$797.0K
YoY Change 188.96% 13.86%
Acquisitions
YoY Change
Other Investing Activities $3.500M $317.0K
YoY Change 1004.1% 956.67%
Cash From Investing Activities $1.197M -$480.0K
YoY Change -349.38% -29.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $336.0K $409.0K
YoY Change -17.85% -44.95%
Cash From Financing Activities -$151.0K -$253.0K
YoY Change -40.32% 406.0%
NET CHANGE
Cash From Operating Activities -$965.0K $406.0K
Cash From Investing Activities $1.197M -$480.0K
Cash From Financing Activities -$151.0K -$253.0K
Net Change In Cash $81.00K -$327.0K
YoY Change -124.77% 21.11%
FREE CASH FLOW
Cash From Operating Activities -$965.0K $406.0K
Capital Expenditures -$2.303M -$797.0K
Free Cash Flow $1.338M $1.203M
YoY Change 11.22% 3.89%

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150000 USD
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76000 USD
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7000 USD
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351000 USD
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292000 USD
CY2019Q4 us-gaap Interest Expense
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181000 USD
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3276000 USD
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4242000 USD
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22000 USD
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2721000 USD
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3617000 USD
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1000 USD
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0 USD
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592000 USD
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27360000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
18722000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2132000 USD
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1584000 USD
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1754000 USD
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USD
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9581000 USD
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96099000 USD
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111484000 USD
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2052000 USD
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1980000 USD
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2052000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1980000 USD
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MultiemployerPlansWithdrawalObligation
739000 USD
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-151000 USD
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-480000 USD
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1197000 USD
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406000 USD
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537000 USD
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P15Y7M18D
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CY2019Q3 us-gaap Other Assets Noncurrent
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218000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
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205000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-428000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
192000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-107000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-189000 USD
CY2019Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
63000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
782000 USD
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0 USD
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
108000 USD
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3500000 USD
CY2019Q4 us-gaap Other Receivables Net Current
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170000 USD
CY2018Q4 us-gaap Payments Of Debt Issuance Costs
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105000 USD
CY2019Q4 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2018Q4 us-gaap Payments To Acquire Productive Assets
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797000 USD
CY2019Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2303000 USD
CY2019Q3 us-gaap Percentage Of Lifo Inventory
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0.27
CY2019Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.33
CY2019Q3 us-gaap Preferred Stock Shares Authorized
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1000000 shares
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q3 us-gaap Prepaid Expense And Other Assets Current
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1459000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1556000 USD
CY2018Q4 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
CY2019Q4 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
3500000 USD
CY2018Q4 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
133000 USD
CY2019Q4 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2018Q4 us-gaap Proceeds From Lines Of Credit
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9959000 USD
CY2019Q4 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
31809000 USD
CY2018Q4 us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
317000 USD
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ProceedsFromSaleOfOtherPropertyPlantAndEquipment
0 USD
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39610000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
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41449000 USD
CY2018Q4 us-gaap Repayments Of Lines Of Credit
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10230000 USD
CY2019Q4 us-gaap Repayments Of Lines Of Credit
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30714000 USD
CY2018Q4 us-gaap Repayments Of Long Term Debt
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409000 USD
CY2019Q4 us-gaap Repayments Of Long Term Debt
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336000 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
33148000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
31806000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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29067000 USD
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26207000 USD
CY2019Q4 us-gaap Selling General And Administrative Expense
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4208000 USD
CY2019Q3 us-gaap Short Term Borrowings
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15542000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
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119513000 USD
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4111000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
44190000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
35244000 USD
CY2019Q4 us-gaap Short Term Borrowings
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16630000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2019Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-4000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
46421000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
36054000 USD
CY2019Q3 us-gaap Unamortized Debt Issuance Expense
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25000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
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24000 USD
CY2019Q4 us-gaap Variable Lease Cost
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39000 USD
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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5535000 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5612000 shares
CY2018Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5535000 shares
CY2019Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5612000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5535000 shares
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5612000 shares

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