$TLS
TELOS CORP

2019 Q2 Form 10-Q Financial Statement

#000032012119000022 Filed on August 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $36.05M $34.94M
YoY Change 3.16% 65.61%
Cost Of Revenue $26.03M $22.87M
YoY Change 13.86% 66.78%
Gross Profit $10.02M $12.08M
YoY Change -17.08% 63.44%
Gross Profit Margin 27.78% 34.56%
Selling, General & Admin $10.44M $9.922M
YoY Change 5.19% 13.52%
% of Gross Profit 104.21% 82.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.410M $710.0K
YoY Change 98.59% 61.36%
% of Gross Profit 14.08% 5.88%
Operating Expenses $10.44M $9.922M
YoY Change 5.19% 13.52%
Operating Profit -$422.0K $2.156M
YoY Change -119.57% -259.7%
Interest Expense $1.740M $1.709M
YoY Change 1.81% -202.95%
% of Operating Profit 79.27%
Other Income/Expense, Net $190.0K $0.00
YoY Change
Pretax Income -$1.974M $450.0K
YoY Change -538.67% -114.95%
Income Tax $20.00K $6.000K
% Of Pretax Income 1.33%
Net Earnings -$1.741M -$87.00K
YoY Change 1901.15% -97.43%
Net Earnings / Revenue -4.83% -0.25%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$0.05 -$1.992K
COMMON SHARES
Basic Shares Outstanding 37.64K
Diluted Shares Outstanding 37.64K

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $800.0K $900.0K
YoY Change -11.11%
Cash & Equivalents $776.0K $880.0K
Short-Term Investments
Other Short-Term Assets $2.128M $3.100M
YoY Change -31.35% 72.22%
Inventory $4.867M $3.100M
Prepaid Expenses
Receivables $27.60M $18.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $35.88M $26.00M
YoY Change 38.0% 5.26%
LONG-TERM ASSETS
Property, Plant & Equipment $19.07M $16.80M
YoY Change 13.54% 2.44%
Goodwill $14.92M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $962.0K $1.000M
YoY Change -3.8% 11.11%
Total Long-Term Assets $36.68M $32.70M
YoY Change 12.17% 1.55%
TOTAL ASSETS
Total Short-Term Assets $35.88M $26.00M
Total Long-Term Assets $36.68M $32.70M
Total Assets $72.56M $58.70M
YoY Change 23.61% 3.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.10M $13.60M
YoY Change 62.5% -27.66%
Accrued Expenses $2.200M $6.600M
YoY Change -66.67% 32.0%
Deferred Revenue $4.363M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.200M $1.100M
YoY Change 9.09% 10.0%
Total Short-Term Liabilities $40.41M $27.10M
YoY Change 49.1% -6.55%
LONG-TERM LIABILITIES
Long-Term Debt $167.4M $164.2M
YoY Change 1.95% 1.99%
Other Long-Term Liabilities $689.0K $900.0K
YoY Change -23.44% 0.0%
Total Long-Term Liabilities $689.0K $165.1M
YoY Change -99.58% 1.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.41M $27.10M
Total Long-Term Liabilities $689.0K $165.1M
Total Liabilities $210.6M $193.8M
YoY Change 8.66% -0.41%
SHAREHOLDERS EQUITY
Retained Earnings -$144.3M
YoY Change
Common Stock $4.388M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$139.9M -$135.1M
YoY Change
Total Liabilities & Shareholders Equity $72.56M $58.70M
YoY Change 23.61% 3.16%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$1.741M -$87.00K
YoY Change 1901.15% -97.43%
Depreciation, Depletion And Amortization $1.410M $710.0K
YoY Change 98.59% 61.36%
Cash From Operating Activities $1.890M $2.680M
YoY Change -29.48% 19.11%
INVESTING ACTIVITIES
Capital Expenditures -$790.0K -$700.0K
YoY Change 12.86% -33.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$790.0K -$700.0K
YoY Change 12.86% -33.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -550.0K -1.160M
YoY Change -52.59% -64.2%
NET CHANGE
Cash From Operating Activities 1.890M 2.680M
Cash From Investing Activities -790.0K -700.0K
Cash From Financing Activities -550.0K -1.160M
Net Change In Cash 550.0K 820.0K
YoY Change -32.93% -140.2%
FREE CASH FLOW
Cash From Operating Activities $1.890M $2.680M
Capital Expenditures -$790.0K -$700.0K
Free Cash Flow $2.680M $3.380M
YoY Change -20.71% 2.42%

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us-gaap Operating Lease Payments
OperatingLeasePayments
261000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1454000
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-381000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
962000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
915000
CY2019Q2 us-gaap Other Assets Current
OtherAssetsCurrent
2128000
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1985000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
838000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1895000
CY2019Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2798000
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
244000
CY2019Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
491000
CY2018Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3000
us-gaap Profit Loss
ProfitLoss
-4934000
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P2Y
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19074000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17426000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
245000
CY2018Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
34542000
CY2019Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
27617000
CY2019Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
188000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
193000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
7000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
989000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2410000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1287000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
836000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
905000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
984000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
444000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
-1994000
us-gaap Profit Loss
ProfitLoss
-1308000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
541000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
490000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-144283000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-139129000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36048000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34943000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
67214000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
67344000
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
74100000
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.142
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.854
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P6M
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9922000
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10437000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20795000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20176000
CY2018Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
10984000
CY2019Q2 us-gaap Senior Long Term Notes
SeniorLongTermNotes
11095000
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-138019000
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-132103000
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-133910000
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-135757000
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-136037000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-134376000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-139876000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-134724000
CY2019Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
291000
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
660000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
648000
CY2019Q2 tlsrp Working Capital
WorkingCapital
-4500000
CY2018Q4 tlsrp Working Capital
WorkingCapital
2100000
CY2018Q4 us-gaap Subordinated Long Term Debt
SubordinatedLongTermDebt
2597000
CY2019Q2 us-gaap Subordinated Long Term Debt
SubordinatedLongTermDebt
2759000
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
278000
CY2019Q2 tlsrp Public Preferred Stock Classified As Liability
PublicPreferredStockClassifiedAsLiability
137299000
CY2018Q4 tlsrp Public Preferred Stock Classified As Liability
PublicPreferredStockClassifiedAsLiability
135387000
tlsrp Goodwill Amortization Period
GoodwillAmortizationPeriod
P15Y
tlsrp Percentage Of Initially Payment Received From Factoring One
PercentageOfInitiallyPaymentReceivedFromFactoringOne
0.9
tlsrp Percentage Of Initially Payment Received From Factoring Two
PercentageOfInitiallyPaymentReceivedFromFactoringTwo
0.85
CY2018Q2 tlsrp Receivables Sold Under Factoring Agreement
ReceivablesSoldUnderFactoringAgreement
2000000
CY2019Q2 tlsrp Receivables Sold Under Factoring Agreement
ReceivablesSoldUnderFactoringAgreement
4400000
tlsrp Receivables Sold Under Factoring Agreement
ReceivablesSoldUnderFactoringAgreement
9400000
tlsrp Receivables Sold Under Factoring Agreement
ReceivablesSoldUnderFactoringAgreement
5100000
CY2019Q2 tlsrp Loss Recognized In Sold Receivables
LossRecognizedInSoldReceivables
15000
CY2018Q2 tlsrp Loss Recognized In Sold Receivables
LossRecognizedInSoldReceivables
7000
tlsrp Loss Recognized In Sold Receivables
LossRecognizedInSoldReceivables
18000
tlsrp Loss Recognized In Sold Receivables
LossRecognizedInSoldReceivables
32000
CY2018 tlsrp Deferred Price Related To Sold Receivables
DeferredPriceRelatedToSoldReceivables
100000
tlsrp Deferred Price Related To Sold Receivables
DeferredPriceRelatedToSoldReceivables
200000
tlsrp Deferred Price Related To Sold Receivables
DeferredPriceRelatedToSoldReceivables
100000
CY2018 tlsrp Amount Of Remaining Sold Receivables
AmountOfRemainingSoldReceivables
900000
tlsrp Amount Of Remaining Sold Receivables
AmountOfRemainingSoldReceivables
1400000
tlsrp Amount Of Remaining Sold Receivables
AmountOfRemainingSoldReceivables
1000000
tlsrp Maximum Limit Of Receivables Sold
MaximumLimitOfReceivablesSold
10000000
tlsrp Dividends Preferred Stock As Interest Expense
DividendsPreferredStockAsInterestExpense
-1911000
tlsrp Dividends Preferred Stock As Interest Expense
DividendsPreferredStockAsInterestExpense
-1912000
tlsrp Finance Lease Cost
FinanceLeaseCost
1057000
CY2019Q2 tlsrp Finance Lease Cost
FinanceLeaseCost
527000

Files In Submission

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0000320121-19-000022-index-headers.html Edgar Link pending
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0000320121-19-000022.txt Edgar Link pending
0000320121-19-000022-xbrl.zip Edgar Link pending
ex31_1.htm Edgar Link pending
ex31_2.htm Edgar Link pending
ex32.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10q.htm Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
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tlsrp-20190630.xml Edgar Link completed
tlsrp-20190630.xsd Edgar Link pending
tlsrp-20190630_cal.xml Edgar Link unprocessable
tlsrp-20190630_def.xml Edgar Link unprocessable
tlsrp-20190630_lab.xml Edgar Link unprocessable
tlsrp-20190630_pre.xml Edgar Link unprocessable