2015 Q4 Form 10-Q Financial Statement

#000113331115000039 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $32.05M $33.73M $36.31M
YoY Change -6.53% -7.1% -2.55%
Cost Of Revenue $4.328M $4.742M $4.813M
YoY Change -6.72% -1.48% 11.36%
Gross Profit $27.72M $28.99M $31.49M
YoY Change -6.5% -7.96% -4.37%
Gross Profit Margin 86.5% 85.94% 86.74%
Selling, General & Admin $23.43M $25.21M $28.79M
YoY Change -17.3% -12.44% -0.58%
% of Gross Profit 84.52% 86.97% 91.41%
Research & Development $3.316M $2.917M $3.108M
YoY Change 12.18% -6.15%
% of Gross Profit 11.96% 10.06% 9.87%
Depreciation & Amortization $590.0K $690.0K $790.0K
YoY Change -31.4% -12.66% 11.27%
% of Gross Profit 2.13% 2.38% 2.51%
Operating Expenses $26.75M $28.13M $29.65M
YoY Change -9.19% -5.13% -41.82%
Operating Profit $976.0K $860.0K $1.846M
YoY Change 397.96% -53.41% -110.24%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$376.0K -$202.0K $95.00K
YoY Change 8.05% -312.63% -57.59%
Pretax Income $600.0K $658.0K $1.941M
YoY Change -494.74% -66.1% -110.9%
Income Tax $165.0K -$8.199M $158.0K
% Of Pretax Income 27.5% -1246.05% 8.14%
Net Earnings $435.0K $8.857M $1.783M
YoY Change -605.81% 396.75% -109.37%
Net Earnings / Revenue 1.36% 26.26% 4.91%
Basic Earnings Per Share $0.03 $0.60 $0.12
Diluted Earnings Per Share $0.03 $0.60 $0.12
COMMON SHARES
Basic Shares Outstanding 14.73M shares 14.73M shares 14.73M shares
Diluted Shares Outstanding 14.73M shares 14.77M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.10M $34.60M $57.20M
YoY Change -36.64% -39.51% -26.57%
Cash & Equivalents $35.13M $34.57M $57.76M
Short-Term Investments
Other Short-Term Assets $537.0K $4.500M $3.300M
YoY Change 0.56% 36.36% -45.0%
Inventory
Prepaid Expenses $1.630M
Receivables $16.40M $17.82M $15.70M
Other Receivables $1.400M $1.800M $3.600M
Total Short-Term Assets $57.06M $58.71M $79.72M
YoY Change -28.11% -26.36% -22.76%
LONG-TERM ASSETS
Property, Plant & Equipment $7.905M $8.361M $9.553M
YoY Change -16.77% -12.48% 49.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.600M $3.900M $5.100M
YoY Change -16.28% -23.53% 34.21%
Total Long-Term Assets $11.52M $12.26M $14.87M
YoY Change -17.36% -17.5% 38.39%
TOTAL ASSETS
Total Short-Term Assets $57.06M $58.71M $79.72M
Total Long-Term Assets $11.52M $12.26M $14.87M
Total Assets $68.58M $70.97M $94.59M
YoY Change -26.5% -24.97% -16.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.66M $23.03M $21.44M
YoY Change -11.93% 7.44% -22.54%
Accrued Expenses $10.14M $11.65M $10.27M
YoY Change -14.17% 13.45% 2.28%
Deferred Revenue
YoY Change
Short-Term Debt $5.700M $0.00 $0.00
YoY Change 470.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $41.02M $36.81M $40.43M
YoY Change -4.86% -8.95% -38.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.200M $11.80M $14.30M
YoY Change -56.94% -17.48% 21.19%
Total Long-Term Liabilities $6.200M $11.80M $14.30M
YoY Change -56.94% -17.48% 21.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.02M $36.81M $40.43M
Total Long-Term Liabilities $6.200M $11.80M $14.30M
Total Liabilities $47.20M $48.60M $54.70M
YoY Change -17.91% -11.15% -29.78%
SHAREHOLDERS EQUITY
Retained Earnings $17.39M $16.89M $51.87M
YoY Change -40.45% -67.43% 49.44%
Common Stock $7.909M $30.90M $11.24M
YoY Change -74.28% 174.79% 12.27%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $21.52M $21.52M
YoY Change -100.0% 0.0% 172.44%
Treasury Stock Shares 0.000 shares 1.071M shares 1.071M shares
Shareholders Equity $21.39M $22.39M $39.86M
YoY Change
Total Liabilities & Shareholders Equity $68.58M $70.97M $94.59M
YoY Change -26.5% -24.97% -16.99%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $435.0K $8.857M $1.783M
YoY Change -605.81% 396.75% -109.37%
Depreciation, Depletion And Amortization $590.0K $690.0K $790.0K
YoY Change -31.4% -12.66% 11.27%
Cash From Operating Activities $3.110M $210.0K -$1.880M
YoY Change -434.41% -111.17% -185.84%
INVESTING ACTIVITIES
Capital Expenditures -$390.0K -$140.0K -$1.770M
YoY Change -37.1% -92.09% 18.79%
Acquisitions
YoY Change
Other Investing Activities -$10.00K $10.00K $0.00
YoY Change -133.33% -100.0%
Cash From Investing Activities -$400.0K -$120.0K -$1.760M
YoY Change -34.43% -93.18% -414.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.570M -20.45M 0.000
YoY Change -195.73%
NET CHANGE
Cash From Operating Activities 3.110M 210.0K -1.880M
Cash From Investing Activities -400.0K -120.0K -1.760M
Cash From Financing Activities -1.570M -20.45M 0.000
Net Change In Cash 1.140M -20.36M -3.640M
YoY Change 1040.0% 459.34% -232.36%
FREE CASH FLOW
Cash From Operating Activities $3.110M $210.0K -$1.880M
Capital Expenditures -$390.0K -$140.0K -$1.770M
Free Cash Flow $3.500M $350.0K -$110.0K
YoY Change -1229.03% -418.18% -102.99%

Facts In Submission

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0 USD
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us-gaap Increase Decrease In Deposits Outstanding
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us-gaap Increase Decrease In Income Taxes Receivable
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951000 USD
us-gaap Increase Decrease In Income Taxes Receivable
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-1980000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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381000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Restricted Cash
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-202000 USD
us-gaap Increase Decrease In Restricted Cash
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CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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CY2015Q3 us-gaap Liabilities And Stockholders Equity
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CY2015Q3 us-gaap Liabilities Current
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CY2015Q3 us-gaap Long Term Debt
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6802000 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5911000 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
396000 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
396000 USD
CY2015Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
99000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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-18443000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2983000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-657000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1075000 USD
CY2014Q3 us-gaap Net Income Loss
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1783000 USD
us-gaap Net Income Loss
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CY2015Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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10429000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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0 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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CY2015Q3 us-gaap Noncurrent Assets
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CY2015Q3 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
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us-gaap Number Of Reportable Segments
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3 segment
CY2014Q3 us-gaap Operating Expenses
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us-gaap Operating Expenses
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CY2015Q3 us-gaap Operating Expenses
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us-gaap Operating Expenses
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88999000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1846000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
17614000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
860000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
6170000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
26070000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2857000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3205000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3790000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4576000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
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CY2015Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1388000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1470000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1092000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-362000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1282000 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
95000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
439000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-202000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments For Repurchase Of Common Stock
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5855000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments To Acquire Businesses Gross
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0 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
16974000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3185000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
885000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2802000 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2639000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13600000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
2224000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
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9498000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8361000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-5000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-99000 USD
CY2015Q3 us-gaap Purchase Obligation
PurchaseObligation
2220000 USD
CY2015Q3 us-gaap Purchase Obligation Due After Fifth Year
PurchaseObligationDueAfterFifthYear
0 USD
CY2015Q3 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
0 USD
CY2015Q3 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
365000 USD
CY2015Q3 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
1046000 USD
CY2015Q3 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
438000 USD
CY2015Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
371000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1346000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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29197000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
16892000 USD
CY2014Q3 us-gaap Sales Revenue Services Net
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36307000 USD
us-gaap Share Based Compensation
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146000 USD
CY2013Q4 us-gaap Stock Issued During Period Shares Reverse Stock Splits
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CY2012Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000 shares
CY2014Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
500000 shares
CY2013Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
29000 shares
CY2014Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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0 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 USD
CY2015Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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0 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
3250000 USD
CY2014Q3 us-gaap Research And Development Expense
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3108000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8370000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2917000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9212000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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1393000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
118949000 USD
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
33728000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
109665000 USD
CY2014Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21570000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
62782000 USD
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
19089000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
61881000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
834000 USD
CY2015Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
268000 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
35827000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
22386000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1071000 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1071000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
21517000 USD
CY2015Q3 us-gaap Treasury Stock Value
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21517000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits
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2200000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8400000 USD
us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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8400000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14771000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14923000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14730000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14730000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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14730000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14781000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14730000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14730000 shares

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