2017 Q1 Form 10-Q Financial Statement

#000076682917000083 Filed on May 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $69.05M $61.10M
YoY Change 13.0% -1.61%
Cost Of Revenue $8.700M $7.700M
YoY Change 12.99% -15.38%
Gross Profit $60.30M $53.40M
YoY Change 12.92% 0.75%
Gross Profit Margin 87.33% 87.4%
Selling, General & Admin $12.10M $11.30M
YoY Change 7.08% 0.0%
% of Gross Profit 20.07% 21.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.65M $11.60M
YoY Change 9.05% 9.84%
% of Gross Profit 20.97% 21.72%
Operating Expenses $49.50M $42.80M
YoY Change 15.65% 6.47%
Operating Profit $10.83M $10.58M
YoY Change 2.38% -17.37%
Interest Expense $6.057M $5.435M
YoY Change 11.44% -3.84%
% of Operating Profit 55.91% 51.37%
Other Income/Expense, Net $463.0K $309.0K
YoY Change 49.84% 5.46%
Pretax Income $5.239M $5.500M
YoY Change -4.75% -26.56%
Income Tax $1.568M $2.122M
% Of Pretax Income 29.93% 38.58%
Net Earnings $3.671M $3.378M
YoY Change 8.67% -28.05%
Net Earnings / Revenue 5.32% 5.53%
Basic Earnings Per Share $0.18 $0.17
Diluted Earnings Per Share $0.18 $0.16
COMMON SHARES
Basic Shares Outstanding 20.49M shares 20.41M shares
Diluted Shares Outstanding 20.66M shares 20.56M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.100M $8.700M
YoY Change -18.39% 61.11%
Cash & Equivalents $7.092M $8.692M
Short-Term Investments
Other Short-Term Assets $3.875M $4.331M
YoY Change -10.53% -87.48%
Inventory
Prepaid Expenses
Receivables $15.29M $13.80M
Other Receivables $13.20M $4.100M
Total Short-Term Assets $73.74M $62.63M
YoY Change 17.74% -0.83%
LONG-TERM ASSETS
Property, Plant & Equipment $45.92M $61.29M
YoY Change -25.07% -0.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.600M $6.900M
YoY Change -47.83% 7.81%
Other Assets $7.806M $7.754M
YoY Change 0.67% 18.53%
Total Long-Term Assets $150.8M $165.2M
YoY Change -8.75% -5.81%
TOTAL ASSETS
Total Short-Term Assets $73.74M $62.63M
Total Long-Term Assets $150.8M $165.2M
Total Assets $1.436B $1.356B
YoY Change 5.92% 6.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.72M $19.12M
YoY Change 8.41% 62.33%
Accrued Expenses $22.70M $18.60M
YoY Change 22.04% 3.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $39.50M
YoY Change -100.0% 237.61%
Long-Term Debt Due $127.0K $14.78M
YoY Change -99.14% 2311.26%
Total Short-Term Liabilities $50.78M $97.82M
YoY Change -48.09% 101.05%
LONG-TERM LIABILITIES
Long-Term Debt $433.4M $365.8M
YoY Change 18.47% -4.78%
Other Long-Term Liabilities $12.54M $10.18M
YoY Change 23.18% 73.04%
Total Long-Term Liabilities $445.9M $376.0M
YoY Change 18.6% -3.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.78M $97.82M
Total Long-Term Liabilities $445.9M $376.0M
Total Liabilities $496.7M $473.8M
YoY Change 4.83% 8.0%
SHAREHOLDERS EQUITY
Retained Earnings $337.6M $301.4M
YoY Change 11.99% 7.09%
Common Stock $82.19M $79.93M
YoY Change 2.83% 3.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $421.4M $384.2M
YoY Change
Total Liabilities & Shareholders Equity $1.436B $1.356B
YoY Change 5.92% 6.08%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $3.671M $3.378M
YoY Change 8.67% -28.05%
Depreciation, Depletion And Amortization $12.65M $11.60M
YoY Change 9.05% 9.84%
Cash From Operating Activities $28.24M $32.57M
YoY Change -13.3% 19.9%
INVESTING ACTIVITIES
Capital Expenditures -$29.40M -$33.00M
YoY Change -10.91% 82.32%
Acquisitions
YoY Change
Other Investing Activities -$1.600M -$1.500M
YoY Change 6.67% -55.88%
Cash From Investing Activities -$30.95M -$34.49M
YoY Change -10.25% 60.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $32.00K $152.0K
YoY Change -78.95% 3.4%
Cash From Financing Activities -$15.54M $5.366M
YoY Change -389.62% -300.15%
NET CHANGE
Cash From Operating Activities $28.24M $32.57M
Cash From Investing Activities -$30.95M -$34.49M
Cash From Financing Activities -$15.54M $5.366M
Net Change In Cash -$18.25M $3.453M
YoY Change -628.53% 14.41%
FREE CASH FLOW
Cash From Operating Activities $28.24M $32.57M
Capital Expenditures -$29.40M -$33.00M
Free Cash Flow $57.64M $65.57M
YoY Change -12.09% 44.86%

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15218000 USD
CY2017Q1 us-gaap Land
Land
13262000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1443376000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1435777000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
63573000 USD
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
50780000 USD
CY2016Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
14200000 USD
CY2017Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
0 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
433460000 USD
CY2017Q1 us-gaap Long Term Debt
LongTermDebt
433515000 USD
CY2016Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
125000 USD
CY2017Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
127000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
433335000 USD
CY2017Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
433388000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5366000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15541000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34486000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30951000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32573000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
28242000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
3378000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
3671000 USD
CY2016Q4 us-gaap Net Regulatory Assets
NetRegulatoryAssets
151773000 USD
CY2017Q1 us-gaap Net Regulatory Assets
NetRegulatoryAssets
149856000 USD
CY2016Q4 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
3383000 USD
CY2017Q1 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
3170000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
10581000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
10833000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4402000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
3875000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7844000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7806000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
530000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
116000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6977000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7203000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
13051000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
12540000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
309000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
445000 USD
CY2016Q1 us-gaap Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
395000 USD
CY2017Q1 us-gaap Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
397000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4135000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4456000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
486000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
815000 USD
CY2016Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2017Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
62000 USD
CY2016Q1 us-gaap Payments To Acquire Water Systems
PaymentsToAcquireWaterSystems
31560000 USD
CY2017Q1 us-gaap Payments To Acquire Water Systems
PaymentsToAcquireWaterSystems
27745000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
70177000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
72092000 USD
CY2016Q1 us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
5155000 USD
CY2017Q1 us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
3924000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
451000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
570000 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
14950000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2016Q1 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
31000000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1666381000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1698180000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
50459000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
45924000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
520018000 USD
CY2017Q1 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
532841000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
70453000 USD
CY2017Q1 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
88369000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Land
PublicUtilitiesPropertyPlantAndEquipmentLand
17923000 USD
CY2017Q1 us-gaap Public Utilities Property Plant And Equipment Land
PublicUtilitiesPropertyPlantAndEquipmentLand
18078000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
1146363000 USD
CY2017Q1 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
1165339000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
1554016000 USD
CY2017Q1 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
1566643000 USD
CY2016Q4 us-gaap Public Utilities Requested Rate Increase Decrease Amount
PublicUtilitiesRequestedRateIncreaseDecreaseAmount
13205000 USD
CY2017Q1 us-gaap Public Utilities Requested Rate Increase Decrease Amount
PublicUtilitiesRequestedRateIncreaseDecreaseAmount
5339000 USD
CY2016Q4 us-gaap Public Utilities Requested Rate Increase Decrease Percentage
PublicUtilitiesRequestedRateIncreaseDecreasePercentage
0.038
CY2017Q1 us-gaap Public Utilities Requested Rate Increase Decrease Percentage
PublicUtilitiesRequestedRateIncreaseDecreasePercentage
0.015
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
11734000 USD
CY2017Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
10246000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
62193000 USD
CY2017Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
56170000 USD
CY2016Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
24255000 USD
CY2017Q1 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
19526000 USD
CY2016Q1 us-gaap Regulated Operating Revenue
RegulatedOperatingRevenue
61112000 USD
CY2017Q1 us-gaap Regulated Operating Revenue
RegulatedOperatingRevenue
69045000 USD
CY2016Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
16064000 USD
CY2017Q1 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
10469000 USD
CY2016Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
135709000 USD
CY2017Q1 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
139387000 USD
CY2016Q1 us-gaap Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
475000 USD
CY2017Q1 us-gaap Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
532000 USD
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
10050000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
14200000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
152000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
32000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19001000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
338386000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
337572000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
473000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
586000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
421646000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
421400000 USD
CY2016Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
50531000 USD
CY2017Q1 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
58212000 USD
CY2016Q1 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
11183000 USD
CY2017Q1 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
12119000 USD
CY2016Q1 us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
3811000 USD
CY2017Q1 us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
3661000 USD
CY2016Q1 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
3232000 USD
CY2017Q1 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
3511000 USD
CY2016Q1 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
1237000 USD
CY2017Q1 us-gaap Utilities Operating Expense Purchased Power
UtilitiesOperatingExpensePurchasedPower
1287000 USD
CY2016Q1 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
3218000 USD
CY2017Q1 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
3695000 USD
CY2016Q1 us-gaap Water Production Costs
WaterProductionCosts
20614000 USD
CY2017Q1 us-gaap Water Production Costs
WaterProductionCosts
26132000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20560995 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20655239 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20413745 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20485968 shares

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