$SKAS
Saker Aviation Services, Inc.

2014 Q1 Form 10-Q Financial Statement

#000114420414030858 Filed on May 15, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $3.045M $2.701M
YoY Change 12.73% -14.13%
Cost Of Revenue $1.791M $1.532M
YoY Change 16.9% -17.72%
Gross Profit $1.254M $1.169M
YoY Change 7.27% -8.93%
Gross Profit Margin 41.18% 43.28%
Selling, General & Admin $1.213M $927.6K
YoY Change 30.73% -23.37%
% of Gross Profit 96.69% 79.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $130.0K $100.0K
YoY Change 30.0% 0.0%
% of Gross Profit 10.37% 8.55%
Operating Expenses $1.213M $927.6K
YoY Change 30.73% -23.37%
Operating Profit $41.51K $241.6K
YoY Change -82.82% 229.11%
Interest Expense $25.04K $23.13K
YoY Change 8.25% -37.43%
% of Operating Profit 60.32% 9.57%
Other Income/Expense, Net -$15.64K -$123.6K
YoY Change -87.34% -4302.65%
Pretax Income $25.87K $118.0K
YoY Change -78.09% 54.61%
Income Tax -$14.00K -$64.00K
% Of Pretax Income -54.12% -54.22%
Net Earnings $11.87K $56.95K
YoY Change -79.16% 20.28%
Net Earnings / Revenue 0.39% 2.11%
Basic Earnings Per Share
Diluted Earnings Per Share $8.696K $52.17K
COMMON SHARES
Basic Shares Outstanding 33.10M shares 33.04M shares
Diluted Shares Outstanding 34.90M shares 34.45M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.00K $190.0K
YoY Change -52.63% -63.46%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $1.270M $650.0K
YoY Change 95.38% 35.42%
Inventory $323.0K $370.0K
Prepaid Expenses
Receivables $1.374M $1.630M
Other Receivables $100.0K $110.0K
Total Short-Term Assets $3.161M $2.950M
YoY Change 7.15% 11.67%
LONG-TERM ASSETS
Property, Plant & Equipment $2.333M $2.630M
YoY Change -11.29% 5.29%
Goodwill $1.080M
YoY Change
Intangibles $360.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $180.0K $180.0K
YoY Change 0.0% -93.93%
Total Long-Term Assets $4.019M $5.480M
YoY Change -26.66% 0.35%
TOTAL ASSETS
Total Short-Term Assets $3.161M $2.950M
Total Long-Term Assets $4.019M $5.480M
Total Assets $7.180M $8.430M
YoY Change -14.83% 4.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $799.3K $850.0K
YoY Change -5.97% 27.24%
Accrued Expenses $403.8K $490.0K
YoY Change -17.59% 109.18%
Deferred Revenue
YoY Change
Short-Term Debt $500.0K $300.0K
YoY Change 66.67% -53.85%
Long-Term Debt Due $970.0K $710.0K
YoY Change 36.62% 47.92%
Total Short-Term Liabilities $2.833M $2.480M
YoY Change 14.23% 14.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.160M $830.0K
YoY Change 39.76% -50.3%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.160M $830.0K
YoY Change 39.76% -50.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.833M $2.480M
Total Long-Term Liabilities $1.160M $830.0K
Total Liabilities $4.140M $3.550M
YoY Change 16.63% -7.3%
SHAREHOLDERS EQUITY
Retained Earnings -$16.93M
YoY Change
Common Stock $19.97M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.039M $4.870M
YoY Change
Total Liabilities & Shareholders Equity $7.180M $8.430M
YoY Change -14.83% 4.04%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $11.87K $56.95K
YoY Change -79.16% 20.28%
Depreciation, Depletion And Amortization $130.0K $100.0K
YoY Change 30.0% 0.0%
Cash From Operating Activities -$30.00K -$20.00K
YoY Change 50.0% -108.0%
INVESTING ACTIVITIES
Capital Expenditures $19.08K $547.0K
YoY Change -96.51% 818.51%
Acquisitions
YoY Change
Other Investing Activities $30.00K $340.0K
YoY Change -91.18% 1600.0%
Cash From Investing Activities $10.00K -$210.0K
YoY Change -104.76% 500.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.00K 160.0K
YoY Change -118.75% -207.86%
NET CHANGE
Cash From Operating Activities -30.00K -20.00K
Cash From Investing Activities 10.00K -210.0K
Cash From Financing Activities -30.00K 160.0K
Net Change In Cash -50.00K -70.00K
YoY Change -28.57% -204.97%
FREE CASH FLOW
Cash From Operating Activities -$30.00K -$20.00K
Capital Expenditures $19.08K $547.0K
Free Cash Flow -$49.08K -$567.0K
YoY Change -91.34% -397.78%

Facts In Submission

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CY2013Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
315014 USD
CY2014Q1 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
0 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-205621 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
9221 USD
CY2013Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
141336 USD
CY2014Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
153778 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
158664 USD
CY2014Q1 skas Earn Out Payments Liability
EarnOutPaymentsLiability
The balance is recorded as a liability at a discount rate of seven (7%) percent. Continuing earn-out payments will be made on a monthly basis in an amount equal to (i) five percent (5%) of the subsidiary’s gross receipts, plus (ii) five percent (5%) of the subsidiary’s pre-tax profit.
CY2013Q1 skas Incremental Common Shares Attributable To Warrants
IncrementalCommonSharesAttributableToWarrants
1007379 shares
CY2014Q1 skas Incremental Common Shares Attributable To Warrants
IncrementalCommonSharesAttributableToWarrants
1369723 shares
CY2014Q1 skas Additional Payments For Execution Of Redemption Agreement
AdditionalPaymentsForExecutionOfRedemptionAgreement
1766000 USD
CY2013Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
300000 USD
CY2014Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
125000 USD
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Trading Symbol
TradingSymbol
SKAS
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33107610 shares
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
Saker Aviation Services, Inc.
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001128281
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company

Files In Submission

Name View Source Status
0001144204-14-030858-index-headers.html Edgar Link pending
0001144204-14-030858-index.html Edgar Link pending
0001144204-14-030858.txt Edgar Link pending
0001144204-14-030858-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
skas-20140331.xml Edgar Link completed
skas-20140331.xsd Edgar Link pending
skas-20140331_cal.xml Edgar Link unprocessable
skas-20140331_def.xml Edgar Link unprocessable
skas-20140331_lab.xml Edgar Link unprocessable
skas-20140331_pre.xml Edgar Link unprocessable
v377427_10q.htm Edgar Link pending
v377427_ex31-1.htm Edgar Link pending
v377427_ex31-2.htm Edgar Link pending
v377427_ex32-1.htm Edgar Link pending