$SKAS
Saker Aviation Services, Inc.

2015 Q2 Form 10-Q Financial Statement

#000114420415050783 Filed on August 19, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $4.558M $4.752M
YoY Change -4.09% 18.56%
Cost Of Revenue $1.816M $2.299M
YoY Change -20.99% 16.02%
Gross Profit $2.741M $2.453M
YoY Change 11.76% 21.04%
Gross Profit Margin 60.15% 51.62%
Selling, General & Admin $1.939M $1.768M
YoY Change 9.71% 20.55%
% of Gross Profit 70.74% 72.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $150.0K $140.0K
YoY Change 7.14% 16.67%
% of Gross Profit 5.47% 5.71%
Operating Expenses $1.939M $1.768M
YoY Change 9.71% 20.55%
Operating Profit $802.2K $685.4K
YoY Change 17.05% 22.32%
Interest Expense $6.403K $13.99K
YoY Change -54.22% -53.98%
% of Operating Profit 0.8% 2.04%
Other Income/Expense, Net -$6.687K -$6.283K
YoY Change 6.43% -71.8%
Pretax Income $795.5K $679.1K
YoY Change 17.15% 26.21%
Income Tax $456.0K $329.0K
% Of Pretax Income 57.32% 48.45%
Net Earnings $427.7K $209.2K
YoY Change 104.49% -10.82%
Net Earnings / Revenue 9.38% 4.4%
Basic Earnings Per Share
Diluted Earnings Per Share $380.5K $182.6K
COMMON SHARES
Basic Shares Outstanding 33.11M shares 33.11M shares
Diluted Shares Outstanding 33.82M shares 34.58M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $340.0K $430.0K
YoY Change -20.93% 138.89%
Cash & Equivalents $335.3K $428.4K
Short-Term Investments
Other Short-Term Assets $960.0K $1.150M
YoY Change -16.52% 53.33%
Inventory $89.63K $312.5K
Prepaid Expenses
Receivables $2.734M $2.135M
Other Receivables $0.00 $140.0K
Total Short-Term Assets $4.124M $4.153M
YoY Change -0.69% 24.16%
LONG-TERM ASSETS
Property, Plant & Equipment $1.687M $2.315M
YoY Change -27.13% -12.6%
Goodwill $530.0K $1.080M
YoY Change -50.94% -54.38%
Intangibles $127.5K $360.0K
YoY Change -64.58% 166.67%
Long-Term Investments
YoY Change
Other Assets $310.0K $180.0K
YoY Change 72.22% 0.0%
Total Long-Term Assets $2.654M $3.938M
YoY Change -32.61% -27.97%
TOTAL ASSETS
Total Short-Term Assets $4.124M $4.153M
Total Long-Term Assets $2.654M $3.938M
Total Assets $6.778M $8.091M
YoY Change -16.23% -8.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.110M $1.517M
YoY Change -26.82% 76.1%
Accrued Expenses $245.4K $626.1K
YoY Change -60.81% 8.96%
Deferred Revenue
YoY Change
Short-Term Debt $550.0K $550.0K
YoY Change 0.0% 83.33%
Long-Term Debt Due $350.0K $710.0K
YoY Change -50.7% -8.97%
Total Short-Term Liabilities $2.492M $3.537M
YoY Change -29.55% 32.95%
LONG-TERM LIABILITIES
Long-Term Debt $790.0K $1.140M
YoY Change -30.7% 78.13%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $790.0K $1.140M
YoY Change -30.7% 78.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.492M $3.537M
Total Long-Term Liabilities $790.0K $1.140M
Total Liabilities $3.280M $4.835M
YoY Change -32.17% 30.87%
SHAREHOLDERS EQUITY
Retained Earnings -$16.72M
YoY Change 12.77%
Common Stock $33.11K $19.97M
YoY Change -99.83% 0.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.500M $3.256M
YoY Change
Total Liabilities & Shareholders Equity $6.780M $8.091M
YoY Change -16.2% -8.18%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $427.7K $209.2K
YoY Change 104.49% -10.82%
Depreciation, Depletion And Amortization $150.0K $140.0K
YoY Change 7.14% 16.67%
Cash From Operating Activities $110.0K $640.0K
YoY Change -82.81% 178.26%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$120.0K
YoY Change -41.67% -14.29%
Acquisitions
YoY Change
Other Investing Activities -$80.00K $30.00K
YoY Change -366.67% 0.0%
Cash From Investing Activities -$150.0K -$90.00K
YoY Change 66.67% -18.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K -220.0K
YoY Change -54.55% 83.33%
NET CHANGE
Cash From Operating Activities 110.0K 640.0K
Cash From Investing Activities -150.0K -90.00K
Cash From Financing Activities -100.0K -220.0K
Net Change In Cash -140.0K 330.0K
YoY Change -142.42% -377957122048000200.0%
FREE CASH FLOW
Cash From Operating Activities $110.0K $640.0K
Capital Expenditures -$70.00K -$120.0K
Free Cash Flow $180.0K $760.0K
YoY Change -76.32% 105.41%

Facts In Submission

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CY2015Q2 skas Liabilities Held For Sale Not Part Of Disposal Group Current
LiabilitiesHeldForSaleNotPartOfDisposalGroupCurrent
102638 USD
CY2014Q4 skas Liabilities Held For Sale Not Part Of Disposal Group Current
LiabilitiesHeldForSaleNotPartOfDisposalGroupCurrent
31781 USD
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
33107 USD
CY2014Q4 us-gaap Common Stock Value
CommonStockValue
33107 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
79875 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Reclassifications</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Certain reclassifications were made to prior year amounts to conform to the current year presentation. None of the reclassifications affected the Company&#8217;s net income in any period.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
640508 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
355887 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
730227 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
348945 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
295460 USD
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
524657 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
291563 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
60427 USD
us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
205570 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
261145 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
253188 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
499699 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
30418 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-192761 USD
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-294129 USD
CY2014Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.00
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.01
CY2015Q2 skas Discontinued Operation Income Loss From Discontinued Operation Weighted Average Number Of Shares Outstanding Basic
DiscontinuedOperationIncomeLossFromDiscontinuedOperationWeightedAverageNumberOfSharesOutstandingBasic
33107610 shares
CY2014Q2 skas Discontinued Operation Income Loss From Discontinued Operation Weighted Average Number Of Shares Outstanding Basic
DiscontinuedOperationIncomeLossFromDiscontinuedOperationWeightedAverageNumberOfSharesOutstandingBasic
33107610 shares
skas Discontinued Operation Income Loss From Discontinued Operation Weighted Average Number Of Shares Outstanding Basic
DiscontinuedOperationIncomeLossFromDiscontinuedOperationWeightedAverageNumberOfSharesOutstandingBasic
33105953 shares
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
0 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
0 USD
us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
0 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
8258 USD
CY2014Q2 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
10166 USD
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
17044 USD
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
19839 USD
us-gaap Disposal Group Including Discontinued Operation Other Expense
DisposalGroupIncludingDiscontinuedOperationOtherExpense
1956 USD
CY2015Q2 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
-66000 USD
CY2014Q2 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
-62000 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
-85000 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
-107000 USD
CY2015Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.00

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