$SLNG
Stabilis Solutions, Inc.

2018 Q1 Form 10-Q Financial Statement

#000156459018013571 Filed on May 15, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $1.876M $8.030M
YoY Change -76.64% -3.23%
Cost Of Revenue $1.547M $1.070M
YoY Change 44.58% -86.97%
Gross Profit $329.0K -$556.0K
YoY Change -159.17% -710.99%
Gross Profit Margin 17.54% -6.92%
Selling, General & Admin $559.0K $650.0K
YoY Change -14.0% -70.75%
% of Gross Profit 169.91%
Research & Development $0.00
YoY Change -100.0%
% of Gross Profit
Depreciation & Amortization $190.0K $220.0K
YoY Change -13.64% 0.0%
% of Gross Profit 57.75%
Operating Expenses $559.0K $650.0K
YoY Change -14.0% -76.32%
Operating Profit -$230.0K -$1.206M
YoY Change -80.93% -54.56%
Interest Expense $7.000K $40.00K
YoY Change -82.5% -113.79%
% of Operating Profit
Other Income/Expense, Net $75.00K -$100.0K
YoY Change -175.0% 156.41%
Pretax Income -$45.00K -$2.477M
YoY Change -98.18% -15.72%
Income Tax $60.00K $18.00K
% Of Pretax Income
Net Earnings -$2.964M -$2.495M
YoY Change 18.8% -13.46%
Net Earnings / Revenue -158.0% -31.07%
Basic Earnings Per Share -$0.35 -$0.31
Diluted Earnings Per Share -$0.35 -$0.31
COMMON SHARES
Basic Shares Outstanding 8.724M 8.337M
Diluted Shares Outstanding 8.724M 8.337M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $630.0K $1.560M
YoY Change -59.62% -78.06%
Cash & Equivalents $627.0K $1.559M
Short-Term Investments
Other Short-Term Assets $5.830M $7.100M
YoY Change -17.89% 48.23%
Inventory $1.940M $960.0K
Prepaid Expenses
Receivables $6.400M $5.110M
Other Receivables $0.00 $0.00
Total Short-Term Assets $14.79M $14.73M
YoY Change 0.41% -15.83%
LONG-TERM ASSETS
Property, Plant & Equipment $6.780M $7.190M
YoY Change -5.7% -8.41%
Goodwill
YoY Change
Intangibles $526.0K $510.0K
YoY Change 3.14%
Long-Term Investments $2.033M $2.047M
YoY Change -0.68% -0.05%
Other Assets $110.0K $74.00K
YoY Change 48.65% 5.71%
Total Long-Term Assets $17.89M $19.15M
YoY Change -6.56% -1.26%
TOTAL ASSETS
Total Short-Term Assets $14.79M $14.73M
Total Long-Term Assets $17.89M $19.15M
Total Assets $32.68M $33.88M
YoY Change -3.53% -8.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.81M $9.000M
YoY Change 20.11% 153.16%
Accrued Expenses $1.120M $1.020M
YoY Change 9.8% -8.11%
Deferred Revenue
YoY Change
Short-Term Debt $97.00K $0.00
YoY Change -100.0%
Long-Term Debt Due $360.0K $500.0K
YoY Change -28.0% 66.67%
Total Short-Term Liabilities $14.66M $11.24M
YoY Change 30.43% 19.6%
LONG-TERM LIABILITIES
Long-Term Debt $5.660M $6.170M
YoY Change -8.27% 46.9%
Other Long-Term Liabilities $200.0K $250.0K
YoY Change -20.0% -13.79%
Total Long-Term Liabilities $5.860M $6.420M
YoY Change -8.72% 42.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.66M $11.24M
Total Long-Term Liabilities $5.860M $6.420M
Total Liabilities $20.60M $20.51M
YoY Change 0.44% 21.0%
SHAREHOLDERS EQUITY
Retained Earnings -$3.222M
YoY Change
Common Stock $13.01M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $863.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $7.627M $8.967M
YoY Change
Total Liabilities & Shareholders Equity $32.68M $33.88M
YoY Change -3.53% -8.17%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$2.964M -$2.495M
YoY Change 18.8% -13.46%
Depreciation, Depletion And Amortization $190.0K $220.0K
YoY Change -13.64% 0.0%
Cash From Operating Activities -$1.514M -$960.0K
YoY Change 57.71% -41.46%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$70.00K
YoY Change 14.29% -36.36%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$79.00K -$70.00K
YoY Change 12.86% -36.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $18.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -72.00K 960.0K
YoY Change -107.5% 12.94%
NET CHANGE
Cash From Operating Activities -1.514M -960.0K
Cash From Investing Activities -79.00K -70.00K
Cash From Financing Activities -72.00K 960.0K
Net Change In Cash -1.665M -70.00K
YoY Change 2278.57% -92.22%
FREE CASH FLOW
Cash From Operating Activities -$1.514M -$960.0K
Capital Expenditures -$80.00K -$70.00K
Free Cash Flow -$1.434M -$890.0K
YoY Change 61.12% -41.83%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
526000
CY2018Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
97000
CY2018Q1 us-gaap Notes Payable Current
NotesPayableCurrent
360000
CY2018Q1 aeti Net Equity Income Loss From Foreign Joint Ventures
NetEquityIncomeLossFromForeignJointVentures
110000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
59000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-2964000
CY2018Q1 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
90000
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3054000
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8723530
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8723530
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
375000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2589000
CY2017Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
18000
CY2017Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
218000
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
89000
CY2018Q1 aeti Bad Debt Expense Recovery
BadDebtExpenseRecovery
15000
CY2017Q1 aeti Bad Debt Expense Recovery
BadDebtExpenseRecovery
15000
CY2017Q1 us-gaap Inventory Write Down
InventoryWriteDown
66000
CY2018Q1 aeti Deferred Compensation Arrangement With Individual Compensation Expense Income
DeferredCompensationArrangementWithIndividualCompensationExpenseIncome
-12000
CY2017Q1 aeti Deferred Compensation Arrangement With Individual Compensation Expense Income
DeferredCompensationArrangementWithIndividualCompensationExpenseIncome
-12000
CY2018Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
28000
CY2017Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
7000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-321000
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1923000
CY2018Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
611000
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-196000
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
46000
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-157000
CY2018Q1 us-gaap Increase Decrease In Cost In Excess Of Billing On Uncompleted Contract
IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract
-2154000
CY2017Q1 us-gaap Increase Decrease In Cost In Excess Of Billing On Uncompleted Contract
IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract
669000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2203000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-61000
CY2018Q1 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
479000
CY2017Q1 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
508000
CY2018Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
902000
CY2017Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-624000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1514000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-958000
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
79000
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
71000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-79000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-71000
CY2018Q1 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
5000
CY2017Q1 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
4000
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
18000
CY2017Q1 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
7000000
CY2017Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-1500000
CY2017Q1 aeti Repayment Of Long Term Notes Payable
RepaymentOfLongTermNotesPayable
4200000
CY2018Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
59000
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
342000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-72000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
962000
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash
EffectOfExchangeRateOnCash
3000
CY2017Q1 us-gaap Effect Of Exchange Rate On Cash
EffectOfExchangeRateOnCash
8000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1662000
CY2017Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-59000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1618000
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1559000
CY2018Q1 us-gaap Interest Paid
InterestPaid
266000
CY2017Q1 us-gaap Interest Paid
InterestPaid
89000
CY2018Q1 us-gaap Stock Issued1
StockIssued1
75000
CY2017Q1 us-gaap Stock Issued1
StockIssued1
300000
CY2018Q1 aeti Nontime And Material Jobs Of Short Term Nature Duration Description
NontimeAndMaterialJobsOfShortTermNatureDurationDescription
less than one month
CY2018Q1 aeti Order Backlog
OrderBacklog
24900000
CY2017Q4 aeti Order Backlog
OrderBacklog
18900000
CY2017 aeti Refinancing Of Outstanding Loans Used As Working Capital
RefinancingOfOutstandingLoansUsedAsWorkingCapital
1000000
CY2018Q1 aeti Interest In Joint Venture Foreign
InterestInJointVentureForeign
2
CY2017Q4 aeti Investments In Foreign Joint Ventures
InvestmentsInForeignJointVentures
10947000
CY2018Q1 aeti Income Loss From Equity Method Investments In Foreign Joint Venture
IncomeLossFromEquityMethodInvestmentsInForeignJointVenture
171000
CY2018Q1 aeti Dividends Declared To Parent Company By50 Percent Or Less Owned Persons
DividendsDeclaredToParentCompanyBy50PercentOrLessOwnedPersons
1051000
CY2018Q1 aeti Change In Equity Method Investment Foreign Currency Translation
ChangeInEquityMethodInvestmentForeignCurrencyTranslation
408000
CY2018Q1 aeti Investments In Foreign Joint Ventures
InvestmentsInForeignJointVentures
10475000
CY2018Q1 us-gaap Equity Method Investments
EquityMethodInvestments
2033000
CY2018Q1 aeti Equity Method Investments Undistributed Earnings
EquityMethodInvestmentsUndistributedEarnings
7086000
CY2018Q1 aeti Investment In Foreign Currency Translation
InvestmentInForeignCurrencyTranslation
1356000
CY2018Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
669000
CY2017Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
519000
CY2018Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1344000
CY2017Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
886000
CY2018Q1 us-gaap Inventory Gross
InventoryGross
2013000
CY2017Q4 us-gaap Inventory Gross
InventoryGross
1405000
CY2018Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
10000
CY2017Q1 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
10000

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