2015 Q1 Form 10-Q Financial Statement

#000076682915000027 Filed on May 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $62.10M $54.60M
YoY Change 13.74% 8.98%
Cost Of Revenue $9.100M $10.90M
YoY Change -16.51% 98.18%
Gross Profit $53.00M $43.70M
YoY Change 21.28% -2.02%
Gross Profit Margin 85.35% 80.04%
Selling, General & Admin $11.30M $9.500M
YoY Change 18.95% -17.39%
% of Gross Profit 21.32% 21.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.56M $9.881M
YoY Change 6.85% 7.4%
% of Gross Profit 19.92% 22.61%
Operating Expenses $40.20M $37.60M
YoY Change 6.91% -3.34%
Operating Profit $12.81M $6.054M
YoY Change 111.51% 4.87%
Interest Expense $5.652M $4.870M
YoY Change 16.06% -3.03%
% of Operating Profit 44.14% 80.44%
Other Income/Expense, Net $293.0K $220.0K
YoY Change 33.18% -40.7%
Pretax Income $7.489M $1.467M
YoY Change 410.5% -34.71%
Income Tax $2.794M $561.0K
% Of Pretax Income 37.31% 38.24%
Net Earnings $4.695M $906.0K
YoY Change 418.21% -31.21%
Net Earnings / Revenue 7.56% 1.66%
Basic Earnings Per Share $0.23 $0.04
Diluted Earnings Per Share $0.23 $0.04
COMMON SHARES
Basic Shares Outstanding 20.33M shares 20.19M shares
Diluted Shares Outstanding 20.48M shares 20.39M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.400M $3.100M
YoY Change 74.19% 47.62%
Cash & Equivalents $5.417M $3.118M
Short-Term Investments
Other Short-Term Assets $34.60M $20.10M
YoY Change 72.14% 2372.32%
Inventory $1.300M $1.100M
Prepaid Expenses $2.543M $2.035M
Receivables $17.57M $14.40M
Other Receivables $4.300M $2.000M
Total Short-Term Assets $63.15M $40.75M
YoY Change 54.96% 19.27%
LONG-TERM ASSETS
Property, Plant & Equipment $61.87M $63.37M
YoY Change -2.37% -5.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.400M $9.200M
YoY Change -30.43% 19.48%
Other Assets $6.542M $6.438M
YoY Change 1.62% 10.2%
Total Long-Term Assets $175.4M $103.9M
YoY Change 68.8% -30.77%
TOTAL ASSETS
Total Short-Term Assets $63.15M $40.75M
Total Long-Term Assets $175.4M $103.9M
Total Assets $1.274B $1.124B
YoY Change 13.35% 2.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.78M $10.70M
YoY Change 10.04% -1.89%
Accrued Expenses $18.00M $17.70M
YoY Change 1.69% 4.12%
Deferred Revenue
YoY Change
Short-Term Debt $11.70M $37.00M
YoY Change -68.38% 67.42%
Long-Term Debt Due $613.0K $537.0K
YoY Change 14.15% -7.25%
Total Short-Term Liabilities $48.65M $71.93M
YoY Change -32.36% 21.6%
LONG-TERM LIABILITIES
Long-Term Debt $384.2M $334.9M
YoY Change 14.73% -0.17%
Other Long-Term Liabilities $5.883M $5.410M
YoY Change 8.74% -32.21%
Total Long-Term Liabilities $390.1M $340.3M
YoY Change 14.63% -0.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.65M $71.93M
Total Long-Term Liabilities $390.1M $340.3M
Total Liabilities $438.7M $412.2M
YoY Change 6.43% 2.4%
SHAREHOLDERS EQUITY
Retained Earnings $281.5M $241.4M
YoY Change 16.62% 3.0%
Common Stock $77.48M $74.41M
YoY Change 4.13% 104.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $361.5M $319.3M
YoY Change
Total Liabilities & Shareholders Equity $1.278B $1.124B
YoY Change 13.69% 2.3%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $4.695M $906.0K
YoY Change 418.21% -31.21%
Depreciation, Depletion And Amortization $10.56M $9.881M
YoY Change 6.85% 7.4%
Cash From Operating Activities $27.17M $15.74M
YoY Change 72.6% 9.07%
INVESTING ACTIVITIES
Capital Expenditures -$18.10M -$26.80M
YoY Change -32.46% 33.33%
Acquisitions
YoY Change
Other Investing Activities -$3.400M -$1.000M
YoY Change 240.0% -117.54%
Cash From Investing Activities -$21.47M -$27.82M
YoY Change -22.83% 93.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $147.0K $138.0K
YoY Change 6.52% -97.23%
Cash From Financing Activities -$2.681M $12.90M
YoY Change -120.79% -3308.46%
NET CHANGE
Cash From Operating Activities $27.17M $15.74M
Cash From Investing Activities -$21.47M -$27.82M
Cash From Financing Activities -$2.681M $12.90M
Net Change In Cash $3.018M $819.0K
YoY Change 268.5% -317.24%
FREE CASH FLOW
Cash From Operating Activities $27.17M $15.74M
Capital Expenditures -$18.10M -$26.80M
Free Cash Flow $45.27M $42.54M
YoY Change 6.41% 23.19%

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CY2014Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
56168000 USD
CY2015Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
56226000 USD
CY2014Q1 us-gaap Investment Income Dividend
InvestmentIncomeDividend
63000 USD
CY2015Q1 us-gaap Investment Income Dividend
InvestmentIncomeDividend
43000 USD
CY2014Q4 us-gaap Land
Land
17297000 USD
CY2015Q1 us-gaap Land
Land
17297000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1269304000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1277821000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
44694000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
48652000 USD
CY2015Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
613000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
384365000 USD
CY2015Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
384189000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12898000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2681000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27819000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21468000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15740000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
27167000 USD
CY2014Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
13200000 USD
CY2015Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
11700000 USD
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
384949000 USD
CY2015Q1 us-gaap Long Term Debt
LongTermDebt
384802000 USD
CY2014Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
584000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
906000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
4695000 USD
CY2014Q4 us-gaap Net Regulatory Assets
NetRegulatoryAssets
174863000 USD
CY2015Q1 us-gaap Net Regulatory Assets
NetRegulatoryAssets
173445000 USD
CY2014Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
-1254000 USD
CY2015Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
4408000 USD
CY2014Q4 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
3385000 USD
CY2015Q1 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
3027000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6054000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
12805000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6390000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6542000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
198000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-15000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6156000 USD
CY2015Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
5977000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5954000 USD
CY2015Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5883000 USD
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
220000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
293000 USD
CY2014Q1 us-gaap Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
229000 USD
CY2015Q1 us-gaap Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
2318000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3788000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3966000 USD
CY2014Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2015Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
59000 USD
CY2014Q1 us-gaap Payments To Acquire Water Systems
PaymentsToAcquireWaterSystems
25158000 USD
CY2015Q1 us-gaap Payments To Acquire Water Systems
PaymentsToAcquireWaterSystems
16253000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
74187000 USD
CY2015Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
76476000 USD
CY2015Q1 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
29221000 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2300000 USD
CY2015Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2543000 USD
CY2014Q1 us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
1897000 USD
CY2015Q1 us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
2416000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
476000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
433000 USD
CY2014Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
16800000 USD
CY2015Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
16700000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1413151000 USD
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1435904000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
62201000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61870000 USD
CY2014Q4 us-gaap Public Utilities Inventory
PublicUtilitiesInventory
1214000 USD
CY2015Q1 us-gaap Public Utilities Inventory
PublicUtilitiesInventory
1250000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
450137000 USD
CY2015Q1 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
458538000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
23208000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Land
PublicUtilitiesPropertyPlantAndEquipmentLand
16838000 USD
CY2015Q1 us-gaap Public Utilities Property Plant And Equipment Land
PublicUtilitiesPropertyPlantAndEquipmentLand
16838000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
963014000 USD
CY2015Q1 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
977366000 USD
CY2014Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
1353772000 USD
CY2015Q1 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
1369521000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
11593000 USD
CY2015Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
11982000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
73794000 USD
CY2015Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
73852000 USD
CY2014Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
18074000 USD
CY2015Q1 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
16090000 USD
CY2014Q1 us-gaap Regulated Operating Revenue
RegulatedOperatingRevenue
54596000 USD
CY2015Q1 us-gaap Regulated Operating Revenue
RegulatedOperatingRevenue
62112000 USD
CY2014Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
16853000 USD
CY2015Q1 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
15996000 USD
CY2014Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
158010000 USD
CY2015Q1 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
157449000 USD
CY2014Q1 us-gaap Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
429000 USD
CY2015Q1 us-gaap Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
443000 USD
CY2014Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2200000 USD
CY2015Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
18200000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
138000 USD
CY2015Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
147000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
280773000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
281473000 USD
CY2014Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
48542000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
244000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
399000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
360155000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
361455000 USD
CY2015Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
49307000 USD
CY2014Q1 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
9485000 USD
CY2015Q1 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
10159000 USD
CY2014Q1 us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
3274000 USD
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20326897 shares
CY2015Q1 us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
3368000 USD
CY2014Q1 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
2862000 USD
CY2015Q1 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
2997000 USD
CY2014Q1 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
1489000 USD
CY2015Q1 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
1172000 USD
CY2014Q1 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
2804000 USD
CY2015Q1 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
3095000 USD
CY2014Q1 us-gaap Water Production Costs
WaterProductionCosts
23529000 USD
CY2015Q1 us-gaap Water Production Costs
WaterProductionCosts
21389000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20385271 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20480276 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20194851 shares

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