2021 Q3 Form 10-Q Financial Statement
#000120677421002699 Filed on November 03, 2021
Income Statement
Concept | 2021 Q3 | 2020 Q3 | 2020 Q2 |
---|---|---|---|
Revenue | $50.39M | $41.61M | $38.90M |
YoY Change | 21.1% | -0.37% | -8.23% |
Cost Of Revenue | $35.78M | $30.11M | $29.50M |
YoY Change | 18.81% | -3.85% | -8.81% |
Gross Profit | $14.61M | $11.49M | $9.409M |
YoY Change | 27.12% | 10.04% | -6.4% |
Gross Profit Margin | 29.0% | 27.63% | 24.19% |
Selling, General & Admin | $10.31M | $8.416M | $8.445M |
YoY Change | 22.53% | 13.95% | 4.34% |
% of Gross Profit | 70.58% | 73.22% | 89.75% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $2.141M | $1.870M | $1.872M |
YoY Change | 14.49% | 11.31% | 15.41% |
% of Gross Profit | 14.65% | 16.27% | 19.9% |
Operating Expenses | $11.03M | $8.416M | $8.445M |
YoY Change | 31.1% | 13.95% | 4.34% |
Operating Profit | $3.578M | $3.078M | $964.0K |
YoY Change | 16.24% | 0.62% | -50.77% |
Interest Expense | -$169.0K | -$230.0K | -$220.0K |
YoY Change | -26.52% | -4.17% | -8.33% |
% of Operating Profit | -4.72% | -7.47% | -22.82% |
Other Income/Expense, Net | -$250.0K | -$317.0K | -$243.0K |
YoY Change | -21.14% | 6.73% | -14.74% |
Pretax Income | $3.328M | $2.761M | $721.0K |
YoY Change | 20.54% | -0.04% | -56.9% |
Income Tax | $313.0K | $737.0K | -$77.00K |
% Of Pretax Income | 9.41% | 26.69% | -10.68% |
Net Earnings | $3.015M | $2.024M | $798.0K |
YoY Change | 48.96% | -14.92% | -53.55% |
Net Earnings / Revenue | 5.98% | 4.86% | 2.05% |
Basic Earnings Per Share | $0.40 | $0.27 | $0.11 |
Diluted Earnings Per Share | $397.0K | $0.27 | $0.11 |
COMMON SHARES | |||
Basic Shares Outstanding | 7.482M shares | 7.417M shares | 7.394M shares |
Diluted Shares Outstanding | 7.595M shares | 7.549M shares | 7.514M shares |
Balance Sheet
Concept | 2021 Q3 | 2020 Q3 | 2020 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.551M | $1.000M | $400.0K |
YoY Change | 155.1% | 11.11% | -33.33% |
Cash & Equivalents | $2.551M | $962.0K | $366.0K |
Short-Term Investments | |||
Other Short-Term Assets | $4.105M | $2.400M | $1.900M |
YoY Change | 71.04% | 0.0% | 11.76% |
Inventory | $10.21M | $13.69M | $14.19M |
Prepaid Expenses | |||
Receivables | $36.46M | $27.65M | $27.85M |
Other Receivables | $448.0K | $717.0K | $894.0K |
Total Short-Term Assets | $53.77M | $45.38M | $45.25M |
YoY Change | 18.49% | -1.99% | -2.28% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $31.43M | $21.48M | $20.87M |
YoY Change | 46.34% | -24.91% | -22.41% |
Goodwill | $59.44M | $41.77M | $41.68M |
YoY Change | 42.3% | ||
Intangibles | $12.75M | $6.737M | $7.349M |
YoY Change | 89.3% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $919.0K | $685.0K | $733.0K |
YoY Change | 34.16% | -14.38% | 4.71% |
Total Long-Term Assets | $104.5M | $80.68M | $78.92M |
YoY Change | 29.57% | 17.44% | 17.09% |
TOTAL ASSETS | |||
Total Short-Term Assets | $53.77M | $45.38M | $45.25M |
Total Long-Term Assets | $104.5M | $80.68M | $78.92M |
Total Assets | $158.3M | $126.1M | $124.2M |
YoY Change | 25.59% | 9.62% | 9.2% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $10.98M | $11.06M | $9.326M |
YoY Change | -0.65% | -0.41% | -29.35% |
Accrued Expenses | $8.455M | $7.100M | $6.600M |
YoY Change | 19.08% | 12.7% | -2.94% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $2.134M | $2.024M | $2.003M |
YoY Change | 5.43% | 6.53% | 5.42% |
Total Short-Term Liabilities | $21.57M | $20.64M | $17.92M |
YoY Change | 4.54% | 6.37% | -18.56% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $40.92M | $20.71M | $26.52M |
YoY Change | 97.58% | -8.77% | 30.02% |
Other Long-Term Liabilities | $10.17M | $3.345M | $2.682M |
YoY Change | 203.92% | -57.12% | -66.48% |
Total Long-Term Liabilities | $51.08M | $24.05M | $29.21M |
YoY Change | 112.37% | -21.13% | 2.84% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $21.57M | $20.64M | $17.92M |
Total Long-Term Liabilities | $51.08M | $24.05M | $29.21M |
Total Liabilities | $77.57M | $55.96M | $56.71M |
YoY Change | 38.62% | 6.99% | 6.99% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $48.62M | $46.59M | |
YoY Change | |||
Common Stock | $22.17M | $21.71M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $80.74M | $70.10M | $67.46M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $158.3M | $126.1M | $124.2M |
YoY Change | 25.59% | 9.62% | 9.2% |
Cashflow Statement
Concept | 2021 Q3 | 2020 Q3 | 2020 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $3.015M | $2.024M | $798.0K |
YoY Change | 48.96% | -14.92% | -53.55% |
Depreciation, Depletion And Amortization | $2.141M | $1.870M | $1.872M |
YoY Change | 14.49% | 11.31% | 15.41% |
Cash From Operating Activities | $5.447M | $8.440M | $4.042M |
YoY Change | -35.46% | 330.61% | 362.47% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$2.567M | -$1.860M | $1.261M |
YoY Change | 38.01% | -28.46% | -12.79% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$19.98M | $0.00 | |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$22.55M | -$1.860M | -$1.261M |
YoY Change | 1112.15% | -47.46% | -0.08% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $904.0K | ||
YoY Change | -7.47% | ||
Debt Paid & Issued, Net | $487.0K | ||
YoY Change | 4.28% | ||
Cash From Financing Activities | 19.12M | -5.700M | -$2.721M |
YoY Change | -435.47% | -411.48% | -817.94% |
NET CHANGE | |||
Cash From Operating Activities | 5.447M | 8.440M | $4.042M |
Cash From Investing Activities | -22.55M | -1.860M | -$1.261M |
Cash From Financing Activities | 19.12M | -5.700M | -$2.721M |
Net Change In Cash | 2.023M | 880.0K | -$133.0K |
YoY Change | 129.89% | 252.0% | -20.36% |
FREE CASH FLOW | |||
Cash From Operating Activities | $5.447M | $8.440M | $4.042M |
Capital Expenditures | -$2.567M | -$1.860M | $1.261M |
Free Cash Flow | $8.014M | $10.30M | $2.781M |
YoY Change | -22.19% | 125.88% | -586.19% |
Facts In Submission
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---|---|---|---|---|
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Entity Central Index Key
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Accrued Contingent Consideration Related To Acquisition
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Accrued Contingent Consideration Related To Acquisition
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Accrued Estimated Working Capital Adjustment Related To Acquisition
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Operating Expenses
OperatingExpenses
|
16861000 | USD | |
CY2021Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3578000 | USD |
CY2020Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3078000 | USD |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
12.00 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
5000 | shares | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
7267000 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
4042000 | USD | |
CY2021Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-250000 | USD |
CY2020Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-317000 | USD |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
24.30 | ||
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
160000 | shares |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
51.72 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y | ||
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
2045000 | USD |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2000 | shares |
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
|
26.27 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y | ||
CY2021Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
76000 | USD |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | item | |
CY2021Q3 | us-gaap |
Revenues
Revenues
|
50387000 | USD |
CY2020Q3 | us-gaap |
Revenues
Revenues
|
41607000 | USD |
us-gaap |
Revenues
Revenues
|
98177000 | USD | |
us-gaap |
Revenues
Revenues
|
80511000 | USD | |
CY2021Q3 | us-gaap |
Gross Profit
GrossProfit
|
14611000 | USD |
CY2020Q3 | us-gaap |
Gross Profit
GrossProfit
|
11494000 | USD |
us-gaap |
Gross Profit
GrossProfit
|
28131000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-445000 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-560000 | USD | |
CY2021Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
313000 | USD |
CY2020Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
737000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
119000 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
660000 | USD | |
CY2021Q3 | us-gaap |
Other General Expense
OtherGeneralExpense
|
563000 | USD |
CY2020Q3 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
2891000 | USD |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
7360000 | USD | |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
3237000 | USD | |
CY2020Q3 | us-gaap |
Other General Expense
OtherGeneralExpense
|
1054000 | USD |
us-gaap |
Other General Expense
OtherGeneralExpense
|
564000 | USD | |
us-gaap |
Other General Expense
OtherGeneralExpense
|
1220000 | USD | |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
3015000 | USD |
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2024000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
6703000 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
2822000 | USD | |
CY2021Q3 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
51989000 | USD |
CY2020Q3 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
43821000 | USD |
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
102109000 | USD | |
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
84060000 | USD | |
CY2021Q3 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
3342000 | USD |
CY2021Q3 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.45 | |
CY2020Q3 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.39 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.98 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.44 | ||
CY2021Q3 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.44 | |
CY2020Q3 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.38 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.97 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.43 |