$SKAS
Saker Aviation Services, Inc.

2017 Q4 Form 10-K Financial Statement

#000143774918006049 Filed on April 02, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 2016 Q4
Revenue $3.270M $12.02M $3.820M
YoY Change -14.4% -18.21% -9.05%
Cost Of Revenue $1.540M $5.612M $1.830M
YoY Change -15.85% -14.87% -4.19%
Gross Profit $1.740M $6.404M $1.980M
YoY Change -12.12% -20.92% -13.54%
Gross Profit Margin 53.21% 53.3% 51.83%
Selling, General & Admin $1.390M $5.311M $1.560M
YoY Change -10.9% -15.75% -12.36%
% of Gross Profit 79.89% 82.93% 78.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $140.0K $537.0K $140.0K
YoY Change 0.0% 6.34% -300.0%
% of Gross Profit 8.05% 8.38% 7.07%
Operating Expenses $1.390M $5.311M $1.560M
YoY Change -10.9% -15.75% -11.86%
Operating Profit $350.0K $1.093M $420.0K
YoY Change -16.67% -39.09% -19.23%
Interest Expense $0.00 $21.40K -$10.00K
YoY Change -100.0% -21.59% 0.0%
% of Operating Profit 0.0% 1.96% -2.38%
Other Income/Expense, Net $0.00 -$31.62K $0.00
YoY Change 15.82% -100.0%
Pretax Income $340.0K $1.062M $420.0K
YoY Change -19.05% -39.93% 2.44%
Income Tax $170.0K $584.0K $210.0K
% Of Pretax Income 50.0% 55.01% 50.0%
Net Earnings $170.0K $477.6K $210.0K
YoY Change -19.05% -45.75% -30.0%
Net Earnings / Revenue 5.2% 3.97% 5.5%
Basic Earnings Per Share $0.43
Diluted Earnings Per Share $153.2K $0.42 $189.2K
COMMON SHARES
Basic Shares Outstanding 1.109M
Diluted Shares Outstanding 1.138M

Balance Sheet

Concept 2017 Q4 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.720M $1.725M $2.190M
YoY Change -21.46% -21.33% 434.15%
Cash & Equivalents $1.725M $2.192M
Short-Term Investments
Other Short-Term Assets $530.0K $531.7K $440.0K
YoY Change 20.45% 21.5% 25.71%
Inventory $163.1K $163.1K $113.1K
Prepaid Expenses
Receivables $1.839M $1.839M $1.474M
Other Receivables $370.0K $370.0K $270.0K
Total Short-Term Assets $4.628M $4.628M $4.487M
YoY Change 3.14% 3.14% 22.67%
LONG-TERM ASSETS
Property, Plant & Equipment $670.0K $670.0K $1.074M
YoY Change -37.64% -37.64% -28.21%
Goodwill $750.0K $750.0K
YoY Change 0.0% 41.51%
Intangibles $0.00 $35.00K
YoY Change -100.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $500.0K $500.7K $420.0K
YoY Change 19.05% 19.15% 31.25%
Total Long-Term Assets $1.921M $1.921M $2.480M
YoY Change -22.54% -22.54% -4.07%
TOTAL ASSETS
Total Short-Term Assets $4.628M $4.628M $4.487M
Total Long-Term Assets $1.921M $1.921M $2.480M
Total Assets $6.549M $6.549M $6.967M
YoY Change -6.0% -6.0% 11.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $495.2K $495.2K $842.4K
YoY Change -41.22% -41.22% 23.35%
Accrued Expenses $292.3K $292.3K $361.4K
YoY Change -19.12% -19.12% -38.68%
Deferred Revenue $126.8K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $350.0K $345.0K $350.0K
YoY Change 0.0% 0.0% 29.63%
Total Short-Term Liabilities $1.259M $1.259M $1.675M
YoY Change -24.83% -24.83% 0.27%
LONG-TERM LIABILITIES
Long-Term Debt $110.0K $112.5K $460.0K
YoY Change -76.09% -75.41% -29.23%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $110.0K $112.5K $460.0K
YoY Change -76.09% -75.41% -29.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.259M $1.259M $1.675M
Total Long-Term Liabilities $110.0K $112.5K $460.0K
Total Liabilities $1.372M $1.372M $2.133M
YoY Change -35.68% -35.68% -8.2%
SHAREHOLDERS EQUITY
Retained Earnings -$14.75M -$15.23M
YoY Change -3.14% -5.47%
Common Stock $19.93M $20.06M
YoY Change -0.67% 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.177M $5.177M $4.834M
YoY Change
Total Liabilities & Shareholders Equity $6.549M $6.549M $6.967M
YoY Change -6.0% -6.0% 11.6%

Cashflow Statement

Concept 2017 Q4 2017 2016 Q4
OPERATING ACTIVITIES
Net Income $170.0K $477.6K $210.0K
YoY Change -19.05% -45.75% -30.0%
Depreciation, Depletion And Amortization $140.0K $537.0K $140.0K
YoY Change 0.0% 6.34% -300.0%
Cash From Operating Activities $40.00K $53.32K $200.0K
YoY Change -80.0% -97.62% -152.63%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K $132.2K -$150.0K
YoY Change -66.67% 76.73% 50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $125.0K $0.00
YoY Change 316.67% -100.0%
Cash From Investing Activities -$50.00K -$7.158K -$150.0K
YoY Change -66.67% -96.33% -137.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $168.7K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -230.0K -513.7K -70.00K
YoY Change 228.57% 88.61% -78.13%
NET CHANGE
Cash From Operating Activities 40.00K 53.32K 200.0K
Cash From Investing Activities -50.00K -7.158K -150.0K
Cash From Financing Activities -230.0K -513.7K -70.00K
Net Change In Cash -240.0K -467.6K -20.00K
YoY Change 1100.0% -126.31% -93.33%
FREE CASH FLOW
Cash From Operating Activities $40.00K $53.32K $200.0K
Capital Expenditures -$50.00K $132.2K -$150.0K
Free Cash Flow $90.00K -$78.84K $350.0K
YoY Change -74.29% -103.63% -225.0%

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NotesPayableCurrent
345000
CY2016Q4 us-gaap Notes Payable Current
NotesPayableCurrent
345000
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
1093243
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
1794726
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
429312
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
33024
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
33024
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
33024
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
33024
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
33024
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
264192
CY2017Q4 us-gaap Other Assets
OtherAssets
1250717
CY2016Q4 us-gaap Other Assets
OtherAssets
1405251
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-10211
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
CY2017 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-100000
CY2016 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-30000
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
168718
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2017 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
CY2016 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
150000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
132158
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
74781
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
9999154
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
9999154
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
531691
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
437586
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3828621
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3696463
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
669957
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1074397
CY2017 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
345000
CY2016 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
272374
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-14752077
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-15229705
CY2017 us-gaap Sales Revenue Net
SalesRevenueNet
12016031
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
14690654
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
400000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
400000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.108
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.064
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2200000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2200000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1700000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.074
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.073
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5311207
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6304011
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
33997
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
33997
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
400000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
400000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.086
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
152301
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.064
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.078
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.075
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.108
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1300000
CY2017Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1700000
CY2017Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
300000
CY2017Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
100000
CY2017Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
100000
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
900000
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0
CY2017 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
168718
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
5176784
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
4833877
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
3919450
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; text-decoration: underline;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2019;s significant estimates include depreciation, amortization, impairment of goodwill and intangibles, stock-based compensation, allowance for doubtful accounts and deferred tax assets.</div></div></div></div></div></div>
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34130624
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33316004
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33262961
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33157610

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