$SODI
SOLITRON DEVICES INC

2024 Q2 Form 10-Q Financial Statement

#000165495424010451 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q2
Revenue $3.967M $4.004M $2.038M
YoY Change 94.65% 167.11% -4.59%
Cost Of Revenue $2.292M $2.778M $1.431M
YoY Change 60.17% 114.52% 8.49%
Gross Profit $1.675M $1.226M $607.0K
YoY Change 175.95% 500.98% -25.7%
Gross Profit Margin 42.22% 30.62% 29.78%
Selling, General & Admin $883.0K $858.0K $542.0K
YoY Change 62.92% 65.96% -5.9%
% of Gross Profit 52.72% 69.98% 89.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $135.0K $218.0K $123.0K
YoY Change 9.76% 67.69% 75.71%
% of Gross Profit 8.06% 17.78% 20.26%
Operating Expenses $883.0K $858.0K $542.0K
YoY Change 62.92% 65.96% -5.9%
Operating Profit $792.0K $368.0K $65.00K
YoY Change 1118.46% -217.57% -73.03%
Interest Expense $50.00K $104.0K -$236.0K
YoY Change -121.19% -80.71% -942.86%
% of Operating Profit 6.31% 28.26% -363.08%
Other Income/Expense, Net -$46.00K $0.00
YoY Change -866.67% -100.0%
Pretax Income $801.0K $2.662M -$171.0K
YoY Change -568.42% 1047.41% -122.18%
Income Tax -$212.0K -$3.024M $0.00
% Of Pretax Income -26.47% -113.6%
Net Earnings $589.0K $5.686M -$171.0K
YoY Change -444.44% 2350.86% -122.18%
Net Earnings / Revenue 14.85% 142.01% -8.39%
Basic Earnings Per Share
Diluted Earnings Per Share $0.28 $2.73 -$0.08
COMMON SHARES
Basic Shares Outstanding 2.083M shares 2.083M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.371M $3.121M $4.066M
YoY Change -17.09% -6.61% -20.35%
Cash & Equivalents $2.404M $2.217M $1.595M
Short-Term Investments $967.0K $904.0K $2.471M
Other Short-Term Assets $569.0K $532.0K $320.0K
YoY Change 77.81% 162.07% 4.58%
Inventory $4.492M $4.132M $2.275M
Prepaid Expenses
Receivables $2.491M $2.826M $1.191M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.92M $10.61M $7.852M
YoY Change 39.11% 37.27% -11.46%
LONG-TERM ASSETS
Property, Plant & Equipment $8.971M $7.356M $7.249M
YoY Change 23.76% -0.05% 45.1%
Goodwill
YoY Change
Intangibles $3.062M $3.114M
YoY Change
Long-Term Investments
YoY Change
Other Assets $121.0K $107.0K $14.00K
YoY Change 764.29% 664.29% 250.0%
Total Long-Term Assets $13.85M $14.13M $7.263M
YoY Change 90.62% 91.61% 8.58%
TOTAL ASSETS
Total Short-Term Assets $10.92M $10.61M $7.852M
Total Long-Term Assets $13.85M $14.13M $7.263M
Total Assets $24.77M $24.74M $15.12M
YoY Change 63.86% 63.8% -2.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $836.0K $439.0K $266.0K
YoY Change 214.29% 211.35% -54.14%
Accrued Expenses $1.038M $1.080M $904.0K
YoY Change 14.82% 19.07% 0.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $142.0K $1.861M $109.0K
YoY Change 30.28% 1591.82% -3.54%
Total Short-Term Liabilities $2.570M $4.384M $1.399M
YoY Change 83.7% 268.71% -13.43%
LONG-TERM LIABILITIES
Long-Term Debt $3.878M $2.537M $2.620M
YoY Change 48.02% -4.19% -3.96%
Other Long-Term Liabilities $663.0K $751.0K
YoY Change
Total Long-Term Liabilities $4.541M $3.288M $2.620M
YoY Change 73.32% 24.17% -3.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.570M $4.384M $1.399M
Total Long-Term Liabilities $4.541M $3.288M $2.620M
Total Liabilities $7.111M $7.672M $4.019M
YoY Change 76.93% 99.95% -7.5%
SHAREHOLDERS EQUITY
Retained Earnings $17.21M $16.63M $10.65M
YoY Change 61.59% 53.59% -1.08%
Common Stock $1.855M $21.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.412M $1.412M $1.412M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 487.8K shares
Shareholders Equity $17.66M $17.07M $11.10M
YoY Change
Total Liabilities & Shareholders Equity $24.77M $24.74M $15.12M
YoY Change 63.86% 63.8% -2.84%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q2
OPERATING ACTIVITIES
Net Income $589.0K $5.686M -$171.0K
YoY Change -444.44% 2350.86% -122.18%
Depreciation, Depletion And Amortization $135.0K $218.0K $123.0K
YoY Change 9.76% 67.69% 75.71%
Cash From Operating Activities $714.0K $557.0K -$7.000K
YoY Change -10300.0% -185.43% -100.43%
INVESTING ACTIVITIES
Capital Expenditures $1.750M $193.0K $12.00K
YoY Change 14483.33% 359.52% -91.43%
Acquisitions $89.00K $0.00
YoY Change
Other Investing Activities -$114.0K -$29.00K $194.0K
YoY Change -158.76% -101.87% -207.78%
Cash From Investing Activities -$1.864M -$222.0K $182.0K
YoY Change -1124.18% -114.72% -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 $1.337M -27.00K -27.00K
YoY Change -5051.85% 3.85% 3.85%
NET CHANGE
Cash From Operating Activities $714.0K 557.0K -7.000K
Cash From Investing Activities -$1.864M -222.0K 182.0K
Cash From Financing Activities $1.337M -27.00K -27.00K
Net Change In Cash $187.0K 308.0K 148.0K
YoY Change 26.35% -62.89% -24.49%
FREE CASH FLOW
Cash From Operating Activities $714.0K $557.0K -$7.000K
Capital Expenditures $1.750M $193.0K $12.00K
Free Cash Flow -$1.036M $364.0K -$19.00K
YoY Change 5352.63% -152.45% -101.28%

Facts In Submission

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CY2024Q2 sodi Description Of Inventory Reserve
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CY2024Q2 dei Document Period End Date
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CY2024Q2 dei Document Transition Report
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CY2024Q2 dei Entity File Number
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CY2024Q2 dei Entity Registrant Name
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Solitron Devices, Inc.
CY2024Q2 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
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CY2024Q2 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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CY2024Q2 dei Entity Address Address Line1
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CY2024Q2 dei Entity Address City Or Town
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CY2024Q2 dei Entity Address State Or Province
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CY2024Q2 dei Entity Address Postal Zip Code
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CY2024Q2 dei City Area Code
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CY2024Q2 dei Local Phone Number
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CY2024Q2 dei Entity Current Reporting Status
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CY2024Q2 dei Entity Filer Category
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