2023 Q1 Form 10-K Financial Statement

#000114036123015325 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $20.36M $22.37M $80.34M
YoY Change -0.68% -4.48% -2.81%
Cost Of Revenue $8.541M $9.900M $33.84M
YoY Change -0.33% -9.81% -5.11%
Gross Profit $11.82M $12.47M $46.50M
YoY Change -0.94% 0.22% -1.07%
Gross Profit Margin 58.05% 55.74% 57.88%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $290.0K $300.0K $1.200M
YoY Change -3.65% 0.0% 9.09%
% of Gross Profit 2.45% 2.41% 2.58%
Operating Expenses $10.84M $12.15M $45.11M
YoY Change -2.36% 2.59% 0.92%
Operating Profit $981.0K $320.0K $1.388M
YoY Change 18.34% -46.67% -39.65%
Interest Expense $0.00 $20.00K $10.00K
YoY Change -100.0% -600.0% -37.5%
% of Operating Profit 0.0% 6.25% 0.72%
Other Income/Expense, Net -$39.00K $10.00K $20.00K
YoY Change -400.0% -118.52% -118.69%
Pretax Income $942.0K $350.0K $1.408M
YoY Change 11.88% -35.42% -35.8%
Income Tax $278.0K -$100.0K $181.0K
% Of Pretax Income 29.51% -28.57% 12.86%
Net Earnings $664.0K $450.0K $1.227M
YoY Change 2.95% 429.41% -9.38%
Net Earnings / Revenue 3.26% 2.01% 1.53%
Basic Earnings Per Share $0.08 $0.15
Diluted Earnings Per Share $0.08 $0.05 $0.15
COMMON SHARES
Basic Shares Outstanding 8.301M 8.293M 8.363M
Diluted Shares Outstanding 8.356M 8.395M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.650M $7.980M $7.980M
YoY Change -16.3% -21.42% -21.42%
Cash & Equivalents $8.646M $7.975M
Short-Term Investments
Other Short-Term Assets $114.0K $106.0K $380.0K
YoY Change -81.46% -24.82% -39.1%
Inventory $35.87M $38.23M $38.23M
Prepaid Expenses $403.0K $272.0K
Receivables $474.0K $400.0K $370.0K
Other Receivables $310.0K $300.0K $300.0K
Total Short-Term Assets $45.81M $47.25M $47.25M
YoY Change -8.92% -6.34% -6.34%
LONG-TERM ASSETS
Property, Plant & Equipment $10.94M $11.16M $20.94M
YoY Change -50.25% -5.09% -5.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $422.0K $387.0K $390.0K
YoY Change 6.84% -1.78% -1.02%
Total Long-Term Assets $22.37M $21.33M $21.33M
YoY Change -0.03% -5.78% -5.77%
TOTAL ASSETS
Total Short-Term Assets $45.81M $47.25M $47.25M
Total Long-Term Assets $22.37M $21.33M $21.33M
Total Assets $68.19M $68.58M $68.58M
YoY Change -6.18% -6.17% -6.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.030M $3.080M $3.080M
YoY Change -74.1% -35.65% -35.65%
Accrued Expenses $5.220M $5.560M $5.010M
YoY Change -22.59% 29.24% -23.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00K $0.00 $20.00K
YoY Change -85.4% -100.0% -78.72%
Total Short-Term Liabilities $6.750M $8.870M $8.870M
YoY Change -37.83% -27.34% -27.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $326.0K $326.0K $8.250M
YoY Change -96.37% -21.82% -8.6%
Total Long-Term Liabilities $326.0K $326.0K $8.250M
YoY Change -96.48% -56.71% -12.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.750M $8.870M $8.870M
Total Long-Term Liabilities $326.0K $326.0K $8.250M
Total Liabilities $7.076M $9.196M $17.12M
YoY Change -64.84% -29.04% -20.68%
SHAREHOLDERS EQUITY
Retained Earnings $60.56M $59.89M
YoY Change 2.09%
Common Stock $23.00K $23.00K
YoY Change -4.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.773M $9.773M
YoY Change 0.0%
Treasury Stock Shares $1.424M $1.424M
Shareholders Equity $52.32M $51.46M $51.46M
YoY Change
Total Liabilities & Shareholders Equity $68.19M $68.58M $68.58M
YoY Change -6.18% -6.17% -6.16%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $664.0K $450.0K $1.227M
YoY Change 2.95% 429.41% -9.38%
Depreciation, Depletion And Amortization $290.0K $300.0K $1.200M
YoY Change -3.65% 0.0% 9.09%
Cash From Operating Activities $797.0K $5.110M $1.154M
YoY Change 187.73% -11.04% -68.95%
INVESTING ACTIVITIES
Capital Expenditures $87.00K -$190.0K $635.0K
YoY Change -153.05% -60.25% -36.56%
Acquisitions
YoY Change
Other Investing Activities $10.00K $10.00K
YoY Change -190.91%
Cash From Investing Activities -$87.00K $200.0K -$625.0K
YoY Change -46.95% -140.9% -37.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.798M
YoY Change -34.33%
Debt Paid & Issued, Net $359.0K
YoY Change
Cash From Financing Activities 0.000 30.00K -2.171M
YoY Change -100.0% -102.79% -21.82%
NET CHANGE
Cash From Operating Activities 797.0K 5.110M 1.154M
Cash From Investing Activities -87.00K 200.0K -625.0K
Cash From Financing Activities 0.000 30.00K -2.171M
Net Change In Cash 671.0K 5.340M -2.180M
YoY Change 515.6% 27.81% 1152.87%
FREE CASH FLOW
Cash From Operating Activities $797.0K $5.110M $1.154M
Capital Expenditures $87.00K -$190.0K $635.0K
Free Cash Flow $710.0K $5.300M $519.0K
YoY Change 61.0% -14.82% -80.88%

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200000

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