2016 Q3 Form 10-Q Financial Statement

#000114420416134327 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $6.367M $7.286M
YoY Change -12.62%
Cost Of Revenue $4.436M $4.857M
YoY Change -8.66%
Gross Profit $1.915M $2.412M
YoY Change -20.62%
Gross Profit Margin 30.08% 33.11%
Selling, General & Admin $854.1K $1.003M
YoY Change -14.85%
% of Gross Profit 44.6% 41.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $157.0K $271.5K
YoY Change -42.18%
% of Gross Profit 8.2% 11.26%
Operating Expenses $854.1K $1.003M
YoY Change -14.85%
Operating Profit $1.061M $1.409M
YoY Change -24.73%
Interest Expense $430.0K $380.0K
YoY Change 13.16%
% of Operating Profit 40.53% 26.96%
Other Income/Expense, Net $519.8K $355.7K
YoY Change 46.15%
Pretax Income $1.581M $1.765M
YoY Change -10.45%
Income Tax $201.6K $300.9K
% Of Pretax Income 12.76% 17.05%
Net Earnings $1.349M $1.422M
YoY Change -5.16%
Net Earnings / Revenue 21.18% 19.52%
Basic Earnings Per Share
Diluted Earnings Per Share $0.63 $0.66
COMMON SHARES
Basic Shares Outstanding 21.03M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.78M
YoY Change
Cash & Equivalents $28.67M $11.65M
Short-Term Investments $110.0K
Other Short-Term Assets $930.0K
YoY Change
Inventory $4.040M
Prepaid Expenses
Receivables $5.820M
Other Receivables $3.800M
Total Short-Term Assets $43.37M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $10.87M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.909M
YoY Change
Other Assets $4.170M
YoY Change
Total Long-Term Assets $21.35M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $43.37M
Total Long-Term Assets $21.35M
Total Assets $64.72M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $304.6K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.730M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.630M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $7.630M
Total Long-Term Liabilities $0.00
Total Liabilities $6.787M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $32.11M
YoY Change
Common Stock $21.03K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $56.95M
YoY Change
Total Liabilities & Shareholders Equity $64.72M
YoY Change

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $1.349M $1.422M
YoY Change -5.16%
Depreciation, Depletion And Amortization $157.0K $271.5K
YoY Change -42.18%
Cash From Operating Activities $415.5K $5.670M
YoY Change -92.67%
INVESTING ACTIVITIES
Capital Expenditures $22.13K $2.950K
YoY Change 650.2%
Acquisitions
YoY Change
Other Investing Activities $0.00 $160.0K
YoY Change -100.0%
Cash From Investing Activities -$284.00 $160.0K
YoY Change -100.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $6.331M 90.00K
YoY Change 6933.95%
NET CHANGE
Cash From Operating Activities $415.5K 5.670M
Cash From Investing Activities -$284.00 160.0K
Cash From Financing Activities $6.331M 90.00K
Net Change In Cash $6.746M 5.920M
YoY Change 13.95%
FREE CASH FLOW
Cash From Operating Activities $415.5K $5.670M
Capital Expenditures $22.13K $2.950K
Free Cash Flow $393.4K $5.667M
YoY Change -93.06%

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CY2016Q3 cik0001300734 Operating Leases Further Amortization Expense Next Twelve Months
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CY2016Q3 cik0001300734 Operating Leases Further Amortization Expense In Two Years
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CY2016Q3 cik0001300734 Operating Leases Further Amortization Expense In Three Years
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CY2016Q3 cik0001300734 Operating Leases Further Amortization Expense
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CY2015Q3 us-gaap Direct Taxes And Licenses Costs
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CY2016Q3 us-gaap Direct Taxes And Licenses Costs
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CY2016Q3 cik0001300734 Gross Profit Contribution Percentage
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CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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392089 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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215991 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2016Q3 us-gaap Operating Leases Income Statement Sublease Revenue
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CY2015Q3 us-gaap Operating Leases Income Statement Sublease Revenue
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57435 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
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215991 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
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CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
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CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable
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CY2015Q3 us-gaap Operating Leases Rent Expense Net
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CY2016Q3 us-gaap Lease Expiration Date1
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2020-05-31
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CY2015Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2016Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
203674 USD
CY2016Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
113680 USD
CY2016Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
114122 USD
CY2016Q3 us-gaap Deferred Tax Assets Gross
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CY2016Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2016Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
114122 USD
CY2016Q3 us-gaap Deferred Tax Assets Net
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CY2016Q3 us-gaap Accrued Income Taxes
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CY2016Q3 us-gaap Sales And Excise Tax Payable Current And Noncurrent
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CY2016Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
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6546 USD
CY2016Q3 cik0001300734 Value Added Tax Rate Percentage
ValueAddedTaxRatePercentage
0.17 pure
CY2016Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2016Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2016Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2016Q3 us-gaap Common Stock Shares Authorized
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CY2016Q3 us-gaap Common Stock Shares Issued
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21034072 shares
CY2016Q2 us-gaap Common Stock Shares Outstanding
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CY2016Q3 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2016Q3 us-gaap Increase Decrease In Other Current Liabilities
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CY2016Q3 us-gaap Common Stock Shares Outstanding
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CY2016Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2016Q3 cik0001300734 Deferred Tax Assets Valuation Allowance Additions During Period
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0 USD
CY2016Q3 cik0001300734 Deferred Tax Assets Valuation Allowance Exchange Rate Adjustments
DeferredTaxAssetsValuationAllowanceExchangeRateAdjustments
-442 USD
CY2016Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <strong><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements as well as the reported amounts of revenue and expenses during the reporting period. Significant estimates required to be made by management include, but are not limited to, useful lives of property, plant, and equipment, and intangible assets, the recoverability of long-lived assets and the valuation of accounts receivable, accrued expenses, taxes payable and inventory reserve. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q3 us-gaap Property Plant And Equipment Gross
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15242295 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
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15279463 USD
CY2016Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5520000 USD
CY2016Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2016Q3 cik0001300734 Statutory Surplus Reserve Percentage
StatutorySurplusReservePercentage
0.1 pure
CY2016Q3 cik0001300734 Statutory Reserve Percentage On Registered Capital
StatutoryReservePercentageOnRegisteredCapital
0.5 pure
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due Current
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392089 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
215991 USD
CY2016Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
6238393 USD
CY2015Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2016 cik0001300734 Deferred Tax Assets Valuation Allowance Current Period Reversals
DeferredTaxAssetsValuationAllowanceCurrentPeriodReversals
8781 USD
CY2016Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P50Y
CY2015Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
108932 USD
CY2016 cik0001300734 Deferred Tax Assets Valuation Allowance Additions During Period
DeferredTaxAssetsValuationAllowanceAdditionsDuringPeriod
13971 USD

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