2017 Q2 Form 10-Q Financial Statement
#000143774917014726 Filed on August 14, 2017
Income Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
Revenue | $3.184M | $4.064M |
YoY Change | -21.66% | -10.82% |
Cost Of Revenue | $1.352M | $1.972M |
YoY Change | -31.43% | 8.56% |
Gross Profit | $1.832M | $2.093M |
YoY Change | -12.46% | -23.67% |
Gross Profit Margin | 57.53% | 51.48% |
Selling, General & Admin | $1.497M | $1.668M |
YoY Change | -10.26% | -13.97% |
% of Gross Profit | 81.72% | 79.72% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $130.0K | $150.0K |
YoY Change | -13.33% | 0.0% |
% of Gross Profit | 7.1% | 7.17% |
Operating Expenses | $1.497M | $1.668M |
YoY Change | -10.26% | -13.97% |
Operating Profit | $334.8K | $424.4K |
YoY Change | -21.1% | -47.1% |
Interest Expense | $6.720K | $7.849K |
YoY Change | -14.38% | 22.58% |
% of Operating Profit | 2.01% | 1.85% |
Other Income/Expense, Net | -$16.72K | -$7.849K |
YoY Change | 113.02% | 17.38% |
Pretax Income | $318.1K | $416.5K |
YoY Change | -23.63% | -47.65% |
Income Tax | $89.80K | $216.0K |
% Of Pretax Income | 28.23% | 51.86% |
Net Earnings | $228.3K | $200.5K |
YoY Change | 13.86% | -53.12% |
Net Earnings / Revenue | 7.17% | 4.93% |
Basic Earnings Per Share | ||
Diluted Earnings Per Share | $200.0K | $180.2K |
COMMON SHARES | ||
Basic Shares Outstanding | 33.37M | 33.16M |
Diluted Shares Outstanding | 34.56M | 33.29M |
Balance Sheet
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.370M | $1.340M |
YoY Change | 2.24% | 294.12% |
Cash & Equivalents | $1.369M | $1.337M |
Short-Term Investments | ||
Other Short-Term Assets | $880.0K | $310.0K |
YoY Change | 183.87% | -67.71% |
Inventory | $136.7K | $60.00K |
Prepaid Expenses | ||
Receivables | $1.681M | $1.940M |
Other Receivables | $370.0K | $270.0K |
Total Short-Term Assets | $4.438M | $3.920M |
YoY Change | 13.21% | -4.95% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $825.7K | $1.270M |
YoY Change | -34.98% | -24.71% |
Goodwill | $750.0K | |
YoY Change | ||
Intangibles | $0.00 | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $400.0K | $300.0K |
YoY Change | 33.33% | -3.23% |
Total Long-Term Assets | $2.072M | $2.330M |
YoY Change | -11.07% | -12.2% |
TOTAL ASSETS | ||
Total Short-Term Assets | $4.438M | $3.920M |
Total Long-Term Assets | $2.072M | $2.330M |
Total Assets | $6.510M | $6.250M |
YoY Change | 4.16% | -7.79% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $522.4K | $740.0K |
YoY Change | -29.41% | -33.34% |
Accrued Expenses | $266.2K | $280.0K |
YoY Change | -4.94% | 14.12% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | -100.0% | |
Long-Term Debt Due | $350.0K | $270.0K |
YoY Change | 29.63% | -22.86% |
Total Short-Term Liabilities | $1.260M | $1.410M |
YoY Change | -10.61% | -43.42% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $320.0K | $520.0K |
YoY Change | -38.46% | -34.18% |
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $320.0K | $520.0K |
YoY Change | -38.46% | -34.18% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.260M | $1.410M |
Total Long-Term Liabilities | $320.0K | $520.0K |
Total Liabilities | $1.583M | $1.930M |
YoY Change | -17.98% | -41.15% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$15.15M | -$15.72M |
YoY Change | -3.62% | |
Common Stock | $20.08M | $20.05M |
YoY Change | 0.17% | 60450.89% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $4.927M | $4.323M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $6.510M | $6.253M |
YoY Change | 4.11% | -7.78% |
Cashflow Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $228.3K | $200.5K |
YoY Change | 13.86% | -53.12% |
Depreciation, Depletion And Amortization | $130.0K | $150.0K |
YoY Change | -13.33% | 0.0% |
Cash From Operating Activities | -$80.00K | $630.0K |
YoY Change | -112.7% | 472.73% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$10.00K | -$10.00K |
YoY Change | 0.0% | -85.71% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $30.00K | $30.00K |
YoY Change | 0.0% | -137.5% |
Cash From Investing Activities | $20.00K | $20.00K |
YoY Change | 0.0% | -113.33% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -70.00K | -70.00K |
YoY Change | 0.0% | -30.0% |
NET CHANGE | ||
Cash From Operating Activities | -80.00K | 630.0K |
Cash From Investing Activities | 20.00K | 20.00K |
Cash From Financing Activities | -70.00K | -70.00K |
Net Change In Cash | -130.0K | 580.0K |
YoY Change | -122.41% | -514.29% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$80.00K | $630.0K |
Capital Expenditures | -$10.00K | -$10.00K |
Free Cash Flow | -$70.00K | $640.0K |
YoY Change | -110.94% | 255.56% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2016Q4 | skas |
Business Acquisition Cost Of Acquired Entity Future Cash Payment
BusinessAcquisitionCostOfAcquiredEntityFutureCashPayment
|
150000 | |
CY2015 | skas |
Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlights
|
0.2 | |
CY2015 | skas |
Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights By Year One
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlightsByYearOne
|
0.4 | |
CY2015 | skas |
Environmental Remediation Agreed Percentage Of Reduction In Tenant Operated Tourist Flights By Year Two
EnvironmentalRemediationAgreedPercentageOfReductionInTenantOperatedTouristFlightsByYearTwo
|
0.5 | |
skas |
Gain Loss On Sale Of Charter Certificate
GainLossOnSaleOfCharterCertificate
|
-10000 | ||
skas |
Gain Loss On Sale Of Charter Certificate
GainLossOnSaleOfCharterCertificate
|
|||
CY2017Q2 | skas |
Incremental Common Shares Attributable To Options
IncrementalCommonSharesAttributableToOptions
|
1189284 | |
CY2016Q2 | skas |
Incremental Common Shares Attributable To Options
IncrementalCommonSharesAttributableToOptions
|
136726 | |
skas |
Incremental Common Shares Attributable To Options
IncrementalCommonSharesAttributableToOptions
|
1189284 | ||
skas |
Incremental Common Shares Attributable To Options
IncrementalCommonSharesAttributableToOptions
|
136726 | ||
skas |
Proceeds From Sale Of Charter Certificate
ProceedsFromSaleOfCharterCertificate
|
25000 | ||
skas |
Proceeds From Sale Of Charter Certificate
ProceedsFromSaleOfCharterCertificate
|
|||
skas |
Sharebased Compensation Stock Options Unamortized Fair Value
SharebasedCompensationStockOptionsUnamortizedFairValue
|
8500 | ||
CY2017Q2 | skas |
Working Capital
WorkingCapital
|
3177582 | |
CY2017Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
522388 | |
CY2016Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
842411 | |
CY2017Q2 | us-gaap |
Accounts Receivable Net Current
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|
1680821 | |
CY2016Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
1474407 | |
CY2017Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
266161 | |
CY2016Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
361443 | |
CY2017Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2880014 | |
CY2016Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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|
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Additional Paid In Capital Common Stock
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|
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Additional Paid In Capital Common Stock
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|
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Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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|
-780116 | ||
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Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
658794 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1900000 | ||
CY2017Q2 | us-gaap |
Assets
Assets
|
6509934 | |
CY2016Q4 | us-gaap |
Assets
Assets
|
6966803 | |
CY2017Q2 | us-gaap |
Assets Current
AssetsCurrent
|
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CY2016Q4 | us-gaap |
Assets Current
AssetsCurrent
|
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CY2017Q2 | us-gaap |
Cash
Cash
|
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us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-24011 | ||
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Cash
Cash
|
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CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
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|
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents Period Increase Decrease
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|
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us-gaap |
Cash And Cash Equivalents Period Increase Decrease
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|
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CY2017Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2017Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | |
CY2016Q4 | us-gaap |
Common Stock Shares Authorized
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|
100000000 | |
CY2017Q2 | us-gaap |
Common Stock Shares Issued
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|
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|
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Common Stock Value
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Cost Of Goods And Services Sold
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|
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|
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|
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|
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|
323000 | |
CY2016Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
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|
323000 | |
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|
73240 | |
CY2016Q4 | us-gaap |
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us-gaap |
Depreciation And Amortization
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|
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0.01 | |
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Earnings Per Share Basic And Diluted
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us-gaap |
Earnings Per Share Basic And Diluted
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|
0.01 | ||
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Goodwill
Goodwill
|
750000 | |
CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
750000 | |
CY2017Q2 | us-gaap |
Gross Profit
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|
1831748 | |
CY2016Q2 | us-gaap |
Gross Profit
GrossProfit
|
2092527 | |
us-gaap |
Gross Profit
GrossProfit
|
2671143 | ||
us-gaap |
Gross Profit
GrossProfit
|
3794217 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
263308 | ||
CY2017Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
318086 | |
CY2016Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
416502 | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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|
782368 | ||
CY2017Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
216000 | |
us-gaap |
Income Tax Expense Benefit
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|
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Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
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|
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|
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|
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Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
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us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
206414 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-578521 | ||
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-95282 | ||
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-310757 | ||
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
271 | ||
us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
158 | ||
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-26524 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
23557 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-9646 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
444068 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-45944 | ||
CY2017Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
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CY2016Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
35000 | |
CY2017Q2 | us-gaap |
Interest Expense
InterestExpense
|
6720 | |
CY2016Q2 | us-gaap |
Interest Expense
InterestExpense
|
7849 | |
us-gaap |
Interest Expense
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|
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us-gaap |
Interest Expense
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|
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|
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Interest Paid
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|
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Inventory Net
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|
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Inventory Net
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|
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CY2017Q2 | us-gaap |
Liabilities
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|
1582892 | |
CY2016Q4 | us-gaap |
Liabilities
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|
2132926 | |
CY2017Q2 | us-gaap |
Liabilities And Stockholders Equity
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|
6509934 | |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
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|
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CY2017Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1260392 | |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1675426 | |
CY2017Q2 | us-gaap |
Long Term Accounts Notes And Loans Receivable Net Noncurrent
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|
100000 | |
CY2016Q4 | us-gaap |
Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
|
200000 | |
CY2017Q2 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
322500 | |
CY2016Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
457500 | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
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|
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us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
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|
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us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
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|
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us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
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|
-703949 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
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|
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Net Income Loss
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|
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us-gaap |
Net Income Loss
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|
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CY2017Q2 | us-gaap |
Net Income Loss
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|
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CY2016Q2 | us-gaap |
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|
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Nonoperating Income Expense
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|
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NonoperatingIncomeExpense
|
-7849 | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-22132 | ||
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-15061 | ||
CY2017Q2 | us-gaap |
Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
|
370000 | |
CY2016Q4 | us-gaap |
Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
|
270000 | |
CY2017Q2 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
345000 | |
CY2016Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
345000 | |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
334806 | |
CY2016Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
424351 | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
285440 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
797429 | ||
CY2017Q2 | us-gaap |
Other Assets
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|
1246240 | |
CY2016Q4 | us-gaap |
Other Assets
OtherAssets
|
1405251 | |
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-10000 | |
CY2016Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
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us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-10000 | ||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
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us-gaap |
Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
|
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us-gaap |
Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
|
-30000 | ||
CY2016Q4 | us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
150000 | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9271 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
15945 | ||
CY2017Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2017Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
881654 | |
CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
437586 | |
CY2017Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
825720 | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1074397 | |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
135000 | ||
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
137374 | ||
CY2017Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-15153538 | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-15229705 | |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
5225201 | ||
CY2017Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
3183940 | |
CY2016Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
4064488 | |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
7031568 | ||
CY2017Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1496942 | |
CY2016Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1668176 | |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2385703 | ||
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2996788 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
16998 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
16998 | ||
CY2017Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4927042 | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4833877 | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
34559785 | |
CY2016Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
33294336 | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
34453928 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
33294336 | ||
CY2017Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
33370501 | |
CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
33157610 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
33264644 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
33157610 |