$SODI
SOLITRON DEVICES INC

2023 Q3 Form 10-Q Financial Statement

#000165495423009517 Filed on July 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.579M $2.038M
YoY Change 17.92% -4.59%
Cost Of Revenue $1.682M $1.431M
YoY Change 13.19% 8.49%
Gross Profit $897.0K $607.0K
YoY Change 27.96% -25.7%
Gross Profit Margin 34.78% 29.78%
Selling, General & Admin $614.0K $542.0K
YoY Change 23.05% -5.9%
% of Gross Profit 68.45% 89.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $121.0K $123.0K
YoY Change 77.94% 75.71%
% of Gross Profit 13.49% 20.26%
Operating Expenses $614.0K $542.0K
YoY Change 23.05% -5.9%
Operating Profit $283.0K $65.00K
YoY Change 40.1% -73.03%
Interest Expense $26.00K -$236.0K
YoY Change -3.7% -942.86%
% of Operating Profit 9.19% -363.08%
Other Income/Expense, Net -$83.00K $0.00
YoY Change -173.45% -100.0%
Pretax Income $200.0K -$171.0K
YoY Change -36.51% -122.18%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $200.0K -$171.0K
YoY Change -36.51% -122.18%
Net Earnings / Revenue 7.75% -8.39%
Basic Earnings Per Share
Diluted Earnings Per Share $0.10 -$0.08
COMMON SHARES
Basic Shares Outstanding 2.083M shares 2.083M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.849M $4.066M
YoY Change -1.91% -20.35%
Cash & Equivalents $1.098M $1.595M
Short-Term Investments $751.0K $2.471M
Other Short-Term Assets $3.285M $320.0K
YoY Change 628.38% 4.58%
Inventory $2.076M $2.275M
Prepaid Expenses
Receivables $952.0K $1.191M
Other Receivables $0.00 $0.00
Total Short-Term Assets $8.162M $7.852M
YoY Change -2.96% -11.46%
LONG-TERM ASSETS
Property, Plant & Equipment $7.218M $7.249M
YoY Change 46.47% 45.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.00K $14.00K
YoY Change 0.0% 250.0%
Total Long-Term Assets $7.232M $7.263M
YoY Change 2.92% 8.58%
TOTAL ASSETS
Total Short-Term Assets $8.162M $7.852M
Total Long-Term Assets $7.232M $7.263M
Total Assets $15.39M $15.12M
YoY Change -0.29% -2.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $373.0K $266.0K
YoY Change 96.32% -54.14%
Accrued Expenses $946.0K $904.0K
YoY Change 12.35% 0.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $109.0K $109.0K
YoY Change -3.54% -3.54%
Total Short-Term Liabilities $1.505M $1.399M
YoY Change 24.48% -13.43%
LONG-TERM LIABILITIES
Long-Term Debt $2.593M $2.620M
YoY Change -4.03% -3.96%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.593M $2.620M
YoY Change -4.03% -3.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.505M $1.399M
Total Long-Term Liabilities $2.593M $2.620M
Total Liabilities $4.098M $4.019M
YoY Change 4.78% -7.5%
SHAREHOLDERS EQUITY
Retained Earnings $10.85M $10.65M
YoY Change -2.08% -1.08%
Common Stock $21.00K $21.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.412M $1.412M
YoY Change 0.0% 0.0%
Treasury Stock Shares 487.8K shares
Shareholders Equity $11.30M $11.10M
YoY Change
Total Liabilities & Shareholders Equity $15.39M $15.12M
YoY Change -0.29% -2.84%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $200.0K -$171.0K
YoY Change -36.51% -122.18%
Depreciation, Depletion And Amortization $121.0K $123.0K
YoY Change 77.94% 75.71%
Cash From Operating Activities $974.0K -$7.000K
YoY Change -324.42% -100.43%
INVESTING ACTIVITIES
Capital Expenditures $90.00K $12.00K
YoY Change -122.73% -91.43%
Acquisitions $0.00
YoY Change
Other Investing Activities $1.645M $194.0K
YoY Change -162.71% -207.78%
Cash From Investing Activities $1.555M $182.0K
YoY Change -151.51% -113.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.00K -27.00K
YoY Change 4.0% 3.85%
NET CHANGE
Cash From Operating Activities 974.0K -7.000K
Cash From Investing Activities 1.555M 182.0K
Cash From Financing Activities -26.00K -27.00K
Net Change In Cash 2.503M 148.0K
YoY Change -171.97% -24.49%
FREE CASH FLOW
Cash From Operating Activities $974.0K -$7.000K
Capital Expenditures $90.00K $12.00K
Free Cash Flow $884.0K -$19.00K
YoY Change -2426.32% -101.28%

Facts In Submission

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CY2023Q2 dei Amendment Flag
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CY2023Q2 dei Current Fiscal Year End Date
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CY2023Q2 dei Document Period End Date
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CY2023Q2 dei Document Transition Report
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CY2023Q2 dei Entity File Number
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CY2023Q2 dei Entity Registrant Name
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SOLITRON DEVICES, INC.
CY2023Q2 dei Entity Incorporation State Country Code
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CY2023Q2 dei Entity Tax Identification Number
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CY2023Q2 dei Entity Address Address Line1
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CY2023Q2 dei Entity Address Postal Zip Code
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CY2023Q2 dei City Area Code
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CY2023Q2 dei Local Phone Number
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CY2023Q2 dei Entity Current Reporting Status
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