$SLNG
Stabilis Solutions, Inc.

2017 Q3 Form 10-Q Financial Statement

#000156459017023695 Filed on November 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3 2015 Q4
Revenue $13.27M $8.673M $7.690M
YoY Change 52.98% -37.06% -43.84%
Cost Of Revenue $1.162M $9.120M $7.990M
YoY Change -87.26% -18.72% -41.51%
Gross Profit $294.0K -$451.0K -$298.0K
YoY Change -165.19% -117.61% -905.41%
Gross Profit Margin 2.22% -5.2% -3.88%
Selling, General & Admin $1.770M $2.050M $2.470M
YoY Change -13.66% -0.97% 10.27%
% of Gross Profit 602.04%
Research & Development $60.00K $150.0K $270.0K
YoY Change -60.0% -46.43% 68.75%
% of Gross Profit 20.41%
Depreciation & Amortization $200.0K $220.0K $220.0K
YoY Change -9.09% 4.76% 0.0%
% of Gross Profit 68.03%
Operating Expenses $1.830M $2.200M $2.740M
YoY Change -16.82% -5.98% 14.64%
Operating Profit -$1.536M -$2.651M -$3.038M
YoY Change -42.06% -1299.55% 29.11%
Interest Expense -$300.0K $80.00K $20.00K
YoY Change -475.0% -172.73% -50.0%
% of Operating Profit
Other Income/Expense, Net $11.00K
YoY Change
Pretax Income -$917.0K -$2.570M -$3.020M
YoY Change -64.32% -2436.36% 30.17%
Income Tax $11.00K $60.00K $600.0K
% Of Pretax Income
Net Earnings -$1.040M -$2.624M -$3.618M
YoY Change -60.37% -1386.27% 82.73%
Net Earnings / Revenue -7.84% -30.25% -47.05%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.13 -$2.519M -$3.515M
COMMON SHARES
Basic Shares Outstanding 8.598M 8.331M
Diluted Shares Outstanding 8.598M

Balance Sheet

Concept 2017 Q3 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.100M $2.900M $7.990M
YoY Change -62.07% -68.38% 125.07%
Cash & Equivalents $1.100M $2.903M $7.989M
Short-Term Investments
Other Short-Term Assets $7.760M $6.060M $3.130M
YoY Change 28.05% 92.99% -16.31%
Inventory $1.170M $1.470M $1.325M
Prepaid Expenses
Receivables $7.820M $7.270M $6.853M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.85M $17.70M $19.30M
YoY Change 0.85% -18.77% -12.01%
LONG-TERM ASSETS
Property, Plant & Equipment $6.940M $7.450M $7.915M
YoY Change -6.85% -8.48% -5.47%
Goodwill
YoY Change
Intangibles $218.0K
YoY Change -7.23%
Long-Term Investments $2.047M $2.048M $11.10M
YoY Change -0.05% 0.05% -7.88%
Other Assets $110.0K $20.00K $49.00K
YoY Change 450.0% -97.92% 716.67%
Total Long-Term Assets $18.84M $18.80M $19.29M
YoY Change 0.21% -8.29% -9.54%
TOTAL ASSETS
Total Short-Term Assets $17.85M $17.70M $19.30M
Total Long-Term Assets $18.84M $18.80M $19.29M
Total Assets $36.69M $36.50M $38.59M
YoY Change 0.52% -13.69% -10.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.53M $8.970M $4.031M
YoY Change 28.54% 90.85% -37.47%
Accrued Expenses $1.190M $880.0K $1.140M
YoY Change 35.23% -50.28% -36.31%
Deferred Revenue
YoY Change
Short-Term Debt $238.0K $1.500M $1.040M
YoY Change -84.13% 0.0%
Long-Term Debt Due $0.00 $300.0K $300.0K
YoY Change -100.0% 11.11% 35.14%
Total Short-Term Liabilities $15.96M $11.99M $8.355M
YoY Change 33.11% 28.37% -21.08%
LONG-TERM LIABILITIES
Long-Term Debt $6.130M $4.050M $4.200M
YoY Change 51.36% 13.13% 11.11%
Other Long-Term Liabilities $230.0K $270.0K $310.0K
YoY Change -14.81% -10.0% 6.9%
Total Long-Term Liabilities $6.360M $4.320M $4.510M
YoY Change 47.22% 11.34% 10.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.96M $11.99M $8.355M
Total Long-Term Liabilities $6.360M $4.320M $4.510M
Total Liabilities $25.12M $19.22M $15.92M
YoY Change 30.7% 19.45% -10.04%
SHAREHOLDERS EQUITY
Retained Earnings $6.775M
YoY Change -30.28%
Common Stock $12.04M
YoY Change 5.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $792.0K
YoY Change 9.7%
Treasury Stock Shares $131.9K
Shareholders Equity $11.57M $17.28M $18.33M
YoY Change
Total Liabilities & Shareholders Equity $36.69M $36.50M $38.59M
YoY Change 0.52% -13.69% -10.79%

Cashflow Statement

Concept 2017 Q3 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income -$1.040M -$2.624M -$3.618M
YoY Change -60.37% -1386.27% 82.73%
Depreciation, Depletion And Amortization $200.0K $220.0K $220.0K
YoY Change -9.09% 4.76% 0.0%
Cash From Operating Activities -$2.510M -$1.340M -$1.410M
YoY Change 87.31% -225.23% -41.74%
INVESTING ACTIVITIES
Capital Expenditures -$90.00K -$200.0K -$30.00K
YoY Change -55.0% 81.82% -81.25%
Acquisitions
YoY Change
Other Investing Activities $460.0K $0.00 $210.0K
YoY Change -34.37%
Cash From Investing Activities $370.0K -$200.0K $190.0K
YoY Change -285.0% 81.82% 26.67%
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 490.0K 210.0K
YoY Change -104.08% -1080.0% -93.88%
NET CHANGE
Cash From Operating Activities -2.510M -1.340M -1.410M
Cash From Investing Activities 370.0K -200.0K 190.0K
Cash From Financing Activities -20.00K 490.0K 210.0K
Net Change In Cash -2.160M -1.050M -1.010M
YoY Change 105.71% -215.38% -187.07%
FREE CASH FLOW
Cash From Operating Activities -$2.510M -$1.340M -$1.410M
Capital Expenditures -$90.00K -$200.0K -$30.00K
Free Cash Flow -$2.420M -$1.140M -$1.380M
YoY Change 112.28% -196.61% -38.94%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
238000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1051000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8598461
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8598461
CY2017Q3 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
89000
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
172000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1129000
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-868000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-1040000
aeti Payments For Proceeds From Certificates Of Deposit
PaymentsForProceedsFromCertificatesOfDeposit
-457000
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
200000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
427000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
99000
us-gaap Effect Of Exchange Rate On Cash
EffectOfExchangeRateOnCash
49000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5086000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2903000
us-gaap Interest Paid
InterestPaid
162000
us-gaap Stock Issued1
StockIssued1
375000
aeti Repayment Of Long Term Notes Payable
RepaymentOfLongTermNotesPayable
150000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
274000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4320000
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-89000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-162000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
640000
us-gaap Share Based Compensation
ShareBasedCompensation
280000
aeti Gain Loss On Disposal Of Fixed Assets
GainLossOnDisposalOfFixedAssets
75000
aeti Bad Debt Expense Recovery
BadDebtExpenseRecovery
45000
us-gaap Inventory Write Down
InventoryWriteDown
66000
aeti Deferred Compensation Arrangement With Individual Compensation Expense Income
DeferredCompensationArrangementWithIndividualCompensationExpenseIncome
-36000
aeti Deferred Compensation Arrangement With Individual Compensation Expense Income
DeferredCompensationArrangementWithIndividualCompensationExpenseIncome
-33000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
59000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
309000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7989000
aeti Repayment Of Long Term Notes Payable
RepaymentOfLongTermNotesPayable
4200000
us-gaap Effect Of Exchange Rate On Cash
EffectOfExchangeRateOnCash
11000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-520000
us-gaap Interest Paid
InterestPaid
611000
aeti Interest In Joint Venture Foreign
InterestInJointVentureForeign
2
CY2016Q4 aeti Investments In Foreign Joint Ventures
InvestmentsInForeignJointVentures
10663000
aeti Income Loss From Equity Method Investments In Foreign Joint Venture
IncomeLossFromEquityMethodInvestmentsInForeignJointVenture
284000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
781000
aeti Change In Equity Method Investment Foreign Currency Translation
ChangeInEquityMethodInvestmentForeignCurrencyTranslation
380000
CY2017Q3 aeti Investments In Foreign Joint Ventures
InvestmentsInForeignJointVentures
10546000
CY2017Q3 us-gaap Equity Method Investments
EquityMethodInvestments
2047000
CY2017Q3 aeti Equity Method Investments Undistributed Earnings
EquityMethodInvestmentsUndistributedEarnings
7802000
CY2017Q3 aeti Investment In Foreign Currency Translation
InvestmentInForeignCurrencyTranslation
697000
CY2017Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
595000
CY2016Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
513000
CY2017Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
708000
CY2016Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
728000
CY2017Q3 us-gaap Inventory Gross
InventoryGross
1303000
CY2016Q4 us-gaap Inventory Gross
InventoryGross
1241000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2016Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.01
CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.02
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.02
CY2017Q3 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
10000
CY2016Q3 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
10000
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
40000
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
40000

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