$SLNG
Stabilis Solutions Inc

2013 Q2 Form 10-Q Financial Statement

#000119312513333877 Filed on August 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $13.50M $12.87M
YoY Change 4.87% 12.62%
Cost Of Revenue $12.77M $10.70M
YoY Change 19.37% 7.86%
Gross Profit $2.089M $2.172M
YoY Change -3.82% 43.84%
Gross Profit Margin 15.48% 16.87%
Selling, General & Admin $1.559M $1.994M
YoY Change -21.82% -19.27%
% of Gross Profit 74.63% 91.8%
Research & Development $75.00K $10.00K
YoY Change 650.0% -96.77%
% of Gross Profit 3.59% 0.46%
Depreciation & Amortization $30.00K $250.0K
YoY Change -88.0% 31.58%
% of Gross Profit 1.44% 11.51%
Operating Expenses $1.634M $2.004M
YoY Change -18.46% -28.17%
Operating Profit $455.0K $168.0K
YoY Change 170.83% -113.12%
Interest Expense $29.00K $38.00K
YoY Change -23.68% -81.9%
% of Operating Profit 6.37% 22.62%
Other Income/Expense, Net -$28.00K -$120.0K
YoY Change -76.67% 0.0%
Pretax Income $1.528M $1.061M
YoY Change 44.02% -189.16%
Income Tax $380.0K $245.0K
% Of Pretax Income 24.87% 23.09%
Net Earnings $1.063M $816.0K
YoY Change 30.27% -211.78%
Net Earnings / Revenue 7.87% 6.34%
Basic Earnings Per Share $0.13 $0.10
Diluted Earnings Per Share $0.12 $0.09
COMMON SHARES
Basic Shares Outstanding 8.003M 7.913M shares
Diluted Shares Outstanding 9.436M 8.247M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.420M $3.950M
YoY Change 37.22% 54.3%
Cash & Equivalents $5.422M $3.945M
Short-Term Investments
Other Short-Term Assets $5.700M $2.680M
YoY Change 112.69% -24.08%
Inventory $6.796M $4.750M
Prepaid Expenses
Receivables $8.675M $10.07M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.58M $21.45M
YoY Change 23.93% 12.01%
LONG-TERM ASSETS
Property, Plant & Equipment $5.144M $4.370M
YoY Change 17.71% -2.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.198M $10.26M
YoY Change -78.58% 28.41%
Other Assets $232.0K $360.0K
YoY Change -35.56% -88.64%
Total Long-Term Assets $18.12M $14.99M
YoY Change 20.86% -4.09%
TOTAL ASSETS
Total Short-Term Assets $26.58M $21.45M
Total Long-Term Assets $18.12M $14.99M
Total Assets $44.70M $36.44M
YoY Change 22.67% 4.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.480M $3.420M
YoY Change 89.47% -19.53%
Accrued Expenses $1.590M $1.810M
YoY Change -12.15% 13.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $130.0K
YoY Change -100.0% -7.14%
Total Short-Term Liabilities $12.30M $7.570M
YoY Change 62.51% 6.92%
LONG-TERM LIABILITIES
Long-Term Debt $500.0K $2.000M
YoY Change -75.0% -61.17%
Other Long-Term Liabilities $170.0K $120.0K
YoY Change 41.67% -70.0%
Total Long-Term Liabilities $670.0K $2.120M
YoY Change -68.4% -61.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.30M $7.570M
Total Long-Term Liabilities $670.0K $2.120M
Total Liabilities $16.62M $12.39M
YoY Change 34.16% -1.9%
SHAREHOLDERS EQUITY
Retained Earnings $13.29M
YoY Change
Common Stock $9.959M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $238.0K
YoY Change
Treasury Stock Shares 49.86K shares
Shareholders Equity $23.86M $24.04M
YoY Change
Total Liabilities & Shareholders Equity $44.70M $36.44M
YoY Change 22.67% 4.77%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $1.063M $816.0K
YoY Change 30.27% -211.78%
Depreciation, Depletion And Amortization $30.00K $250.0K
YoY Change -88.0% 31.58%
Cash From Operating Activities $290.0K -$1.360M
YoY Change -121.32% 23.64%
INVESTING ACTIVITIES
Capital Expenditures -$150.0K -$140.0K
YoY Change 7.14% 180.0%
Acquisitions
YoY Change
Other Investing Activities $110.0K $910.0K
YoY Change -87.91% -9.9%
Cash From Investing Activities -$50.00K $760.0K
YoY Change -106.58% -20.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K 1.900M
YoY Change -101.05% 102.13%
NET CHANGE
Cash From Operating Activities 290.0K -1.360M
Cash From Investing Activities -50.00K 760.0K
Cash From Financing Activities -20.00K 1.900M
Net Change In Cash 220.0K 1.300M
YoY Change -83.08% 62.5%
FREE CASH FLOW
Cash From Operating Activities $290.0K -$1.360M
Capital Expenditures -$150.0K -$140.0K
Free Cash Flow $440.0K -$1.220M
YoY Change -136.07% 16.19%

Facts In Submission

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dei Document Fiscal Year Focus
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dei Document Type
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dei Document Period End Date
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dei Entity Central Index Key
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dei Current Fiscal Year End Date
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dei Trading Symbol
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dei Entity Registrant Name
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-177000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
41000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
57000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1767000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34 pure
us-gaap Gross Profit
GrossProfit
3945000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-10000
us-gaap Operating Expenses
OperatingExpenses
3975000
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
357517 shares
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
334000
us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2818000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
300000
us-gaap Sales Revenue Net
SalesRevenueNet
27304000
us-gaap Increase Decrease In Contract Receivables Net
IncreaseDecreaseInContractReceivablesNet
423000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1825000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1095000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
17000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1484000
us-gaap Interest Expense
InterestExpense
88000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2091000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
21000
aeti Operating Income Loss Percentage
OperatingIncomeLossPercentage
0.00 pure
aeti Amortization Of Discount On Preferred Stock
AmortizationOfDiscountOnPreferredStock
14000
aeti Gross Profit Percentage
GrossProfitPercentage
0.14 pure
aeti Effect Dividend Tax Rate
EffectDividendTaxRate
0.23 pure
aeti Income Loss From Domestic Operations And Net Equity Income From Foreign Joint Ventures
IncomeLossFromDomesticOperationsAndNetEquityIncomeFromForeignJointVentures
1572000
aeti Joint Venture Management Related Expenses
JointVentureManagementRelatedExpenses
223000
aeti Net Equity Income From Foreign Joint Ventures
NetEquityIncomeFromForeignJointVentures
1602000
aeti Repayments Of Advances And Dividends From Foreign Joint Ventures
RepaymentsOfAdvancesAndDividendsFromForeignJointVentures
907000
CY2012Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
55000
CY2012Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
shares
CY2012Q2 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
761000
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7913266 shares
CY2012Q2 us-gaap Selling Expense
SellingExpense
639000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
168000
CY2012Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
10700000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
816000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1355000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8247031 shares
CY2012Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
CY2012Q2 us-gaap Gross Profit
GrossProfit
2172000
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
2004000
CY2012Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
333765 shares
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
245000
CY2012Q2 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
12872000
CY2012Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1054000
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
761000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1061000
CY2012Q2 us-gaap Interest Expense
InterestExpense
38000
CY2012Q2 aeti Operating Income Loss Percentage
OperatingIncomeLossPercentage
0.01 pure
CY2012Q2 aeti Amortization Of Discount On Preferred Stock
AmortizationOfDiscountOnPreferredStock
14000
CY2012Q2 aeti Gross Profit Percentage
GrossProfitPercentage
0.17 pure
CY2012Q2 aeti Income Loss From Domestic Operations And Net Equity Income From Foreign Joint Ventures
IncomeLossFromDomesticOperationsAndNetEquityIncomeFromForeignJointVentures
1099000
CY2012Q2 aeti Joint Venture Management Related Expenses
JointVentureManagementRelatedExpenses
123000
CY2012Q2 aeti Net Equity Income From Foreign Joint Ventures
NetEquityIncomeFromForeignJointVentures
931000
CY2013Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
85000
CY2013Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
1000000 shares
CY2013Q2 us-gaap Undistributed Earnings Diluted
UndistributedEarningsDiluted
1148000
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
75000
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8002872 shares
CY2013Q2 us-gaap Selling Expense
SellingExpense
706000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
396000
CY2013Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
12773000
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
1148000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1219000
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9435695 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
shares
CY2013Q2 us-gaap Gross Profit
GrossProfit
2396000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
2000000
CY2013Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
432823 shares
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
380000
CY2013Q2 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
85000
CY2013Q2 us-gaap Sales Revenue Net
SalesRevenueNet
15169000
CY2013Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1248000
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1063000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1528000
CY2013Q2 us-gaap Interest Expense
InterestExpense
29000
CY2013Q2 aeti Operating Income Loss Percentage
OperatingIncomeLossPercentage
0.03 pure
CY2013Q2 aeti Amortization Of Discount On Preferred Stock
AmortizationOfDiscountOnPreferredStock
10000
CY2013Q2 aeti Gross Profit Percentage
GrossProfitPercentage
0.16 pure
CY2013Q2 aeti Income Loss From Domestic Operations And Net Equity Income From Foreign Joint Ventures
IncomeLossFromDomesticOperationsAndNetEquityIncomeFromForeignJointVentures
1557000
CY2013Q2 aeti Joint Venture Management Related Expenses
JointVentureManagementRelatedExpenses
87000
CY2013Q2 aeti Net Equity Income From Foreign Joint Ventures
NetEquityIncomeFromForeignJointVentures
1161000

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