$SKAS
Saker Aviation Services, Inc.

2023 Q4 Form 10-Q Financial Statement

#000143774923032596 Filed on November 20, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.519M $2.585M
YoY Change 35.86% -0.66%
Cost Of Revenue $680.0K $557.3K
YoY Change -3.12% -44.78%
Gross Profit $1.839M $2.027M
YoY Change 59.59% 27.31%
Gross Profit Margin 73.01% 78.44%
Selling, General & Admin $738.3K $478.8K
YoY Change -24.03% -59.62%
% of Gross Profit 40.14% 23.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.870K $4.110K
YoY Change -455.05% -88.23%
% of Gross Profit 0.21% 0.2%
Operating Expenses $738.3K $478.8K
YoY Change -24.03% -59.62%
Operating Profit $1.101M $1.549M
YoY Change 509.43% 280.76%
Interest Expense $85.33K $79.89K
YoY Change 2485.76%
% of Operating Profit 7.75% 5.16%
Other Income/Expense, Net $0.00 $291.9K
YoY Change
Pretax Income $1.186M $1.841M
YoY Change 544.88% 352.53%
Income Tax $504.0K $668.0K
% Of Pretax Income 42.49% 36.29%
Net Earnings $682.2K $1.173M
YoY Change 99.1% 450.25%
Net Earnings / Revenue 27.08% 45.37%
Basic Earnings Per Share $1.20
Diluted Earnings Per Share $0.70 $1.18
COMMON SHARES
Basic Shares Outstanding 976.3K 976.3K
Diluted Shares Outstanding 992.7K

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.475M $8.583M
YoY Change 58.52% 82.05%
Cash & Equivalents $6.932M $6.157M
Short-Term Investments $2.543M $2.426M
Other Short-Term Assets $745.6K $347.0K
YoY Change 110.08% -75.44%
Inventory $1.142K $6.113K
Prepaid Expenses $745.6K $347.0K
Receivables $294.5K $240.6K
Other Receivables $44.90K $279.9K
Total Short-Term Assets $10.56M $9.457M
YoY Change 53.73% 42.71%
LONG-TERM ASSETS
Property, Plant & Equipment $49.44K $53.32K
YoY Change 15.35% 42.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $49.44K $53.32K
YoY Change 15.35% -85.26%
TOTAL ASSETS
Total Short-Term Assets $10.56M $9.457M
Total Long-Term Assets $49.44K $53.32K
Total Assets $10.61M $9.510M
YoY Change 53.49% 36.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $705.1K $641.2K
YoY Change 114.65% 15.69%
Accrued Expenses $1.333M $990.9K
YoY Change 123.2% 130.35%
Deferred Revenue $253.4K $254.9K
YoY Change 23.85% 24.36%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.292M $1.887M
YoY Change 102.73% 18.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.292M $1.887M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.292M $1.887M
YoY Change 102.73% 18.99%
SHAREHOLDERS EQUITY
Retained Earnings -$11.61M -$12.30M
YoY Change -17.4% -14.63%
Common Stock $19.93M $19.92M
YoY Change 0.45% 0.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.319M $7.623M
YoY Change
Total Liabilities & Shareholders Equity $10.61M $9.510M
YoY Change 53.49% 36.09%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $682.2K $1.173M
YoY Change 99.1% 450.25%
Depreciation, Depletion And Amortization $3.870K $4.110K
YoY Change -455.05% -88.23%
Cash From Operating Activities $715.3K $1.939M
YoY Change -217.51% 168.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $22.99K
YoY Change -100.0% -385.95%
Acquisitions
YoY Change
Other Investing Activities $59.01K -$2.426M
YoY Change -95.9% -585.17%
Cash From Investing Activities $59.01K -$2.449M
YoY Change -95.88% -597.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities 715.3K 1.939M
Cash From Investing Activities 59.01K -2.449M
Cash From Financing Activities 0.000 0.000
Net Change In Cash 774.3K -510.3K
YoY Change -38.67% -142.52%
FREE CASH FLOW
Cash From Operating Activities $715.3K $1.939M
Capital Expenditures $0.00 $22.99K
Free Cash Flow $715.3K $1.916M
YoY Change -216.36% 162.1%

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">NOTE 1 - <span style="text-decoration: underline; ">Basis of Presentation</span></p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The accompanying unaudited condensed consolidated financial statements of Saker Aviation Services, Inc. (the “Company”) and its subsidiary have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all of the information and disclosures required by GAAP for annual financial statements and should be read in conjunction with the financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">The condensed consolidated balance sheet as of September 30, 2023 and the condensed consolidated statements of operations and cash flows for the three and nine months ended September 30, 2023 and 2022 have been prepared by the Company without audit. In the opinion of the Company’s management, all necessary adjustments (consisting of normal recurring accruals) have been included to make the Company’s financial position as of September 30, 2023 and its results of operations, stockholders’ equity, and cash flows for the three and nine months ended September 30, 2023 not misleading. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for any full year or any other interim period.</p>
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report.css Edgar Link pending
Show.js Edgar Link pending
skas-20230930.xsd Edgar Link pending
skas20230930_10q.htm Edgar Link pending
skas-20230930_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
skas-20230930_def.xml Edgar Link unprocessable
skas-20230930_pre.xml Edgar Link unprocessable
skas-20230930_lab.xml Edgar Link unprocessable
skas20230930_10q_htm.xml Edgar Link completed