2021 Q1 Form 10-Q Financial Statement

#000117184321003291 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $48.60M $48.28M
YoY Change 0.67% 2.01%
Cost Of Revenue $35.99M $35.45M
YoY Change 1.51% 1.79%
Gross Profit $12.61M $12.82M
YoY Change -1.67% 2.61%
Gross Profit Margin 25.94% 26.56%
Selling, General & Admin $7.309M $7.752M
YoY Change -5.71% 7.01%
% of Gross Profit 57.97% 60.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.069M $2.066M
YoY Change 0.15% 2.18%
% of Gross Profit 16.41% 16.11%
Operating Expenses $7.309M $7.752M
YoY Change -5.71% 7.01%
Operating Profit $5.300M $5.075M
YoY Change 4.43% -3.39%
Interest Expense $16.00K $16.00K
YoY Change 0.0% -93.07%
% of Operating Profit 0.3% 0.32%
Other Income/Expense, Net $10.00K -$327.0K
YoY Change -103.06% 36.82%
Pretax Income $5.294M $4.732M
YoY Change 11.88% -1.07%
Income Tax $1.131M $841.0K
% Of Pretax Income 21.36% 17.77%
Net Earnings $4.163M $3.891M
YoY Change 6.99% 4.2%
Net Earnings / Revenue 8.57% 8.06%
Basic Earnings Per Share $0.55 $0.52
Diluted Earnings Per Share $0.55 $0.52
COMMON SHARES
Basic Shares Outstanding 7.507M 7.457M
Diluted Shares Outstanding 7.570M 7.538M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.40M $7.300M
YoY Change 247.95% 192.0%
Cash & Equivalents $25.38M $7.334M
Short-Term Investments
Other Short-Term Assets $2.600M $2.800M
YoY Change -7.14% 55.56%
Inventory $20.02M $20.24M
Prepaid Expenses $2.630M $2.750M
Receivables $30.02M $29.45M
Other Receivables $0.00 $0.00
Total Short-Term Assets $78.04M $59.78M
YoY Change 30.56% 8.59%
LONG-TERM ASSETS
Property, Plant & Equipment $53.65M $56.23M
YoY Change -4.59% -2.13%
Goodwill $51.84M $51.84M
YoY Change 0.0% 0.0%
Intangibles $19.40M $20.66M
YoY Change -6.08% -5.74%
Long-Term Investments
YoY Change
Other Assets $153.0K $148.0K
YoY Change 3.38% 8.03%
Total Long-Term Assets $131.1M $134.4M
YoY Change -2.45% -2.31%
TOTAL ASSETS
Total Short-Term Assets $78.04M $59.78M
Total Long-Term Assets $131.1M $134.4M
Total Assets $209.2M $194.2M
YoY Change 7.71% 0.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.977M $7.535M
YoY Change -20.68% 24.81%
Accrued Expenses $6.861M $6.350M
YoY Change 8.05% 6.69%
Deferred Revenue $1.763M $2.432M
YoY Change -27.51% -18.17%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $16.67M $17.46M
YoY Change -4.55% -7.95%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.195M $630.0K
YoY Change 89.68% 223.08%
Total Long-Term Liabilities $1.195M $630.0K
YoY Change 89.68% -96.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.67M $17.46M
Total Long-Term Liabilities $1.195M $630.0K
Total Liabilities $28.36M $27.94M
YoY Change 1.51% -41.99%
SHAREHOLDERS EQUITY
Retained Earnings $149.1M $135.4M
YoY Change 10.07% 17.23%
Common Stock $75.00K $75.00K
YoY Change 0.0% 1.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $587.0K $587.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares $29.56K $29.56K
Shareholders Equity $180.8M $166.3M
YoY Change
Total Liabilities & Shareholders Equity $209.2M $194.2M
YoY Change 7.71% 0.8%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $4.163M $3.891M
YoY Change 6.99% 4.2%
Depreciation, Depletion And Amortization $2.069M $2.066M
YoY Change 0.15% 2.18%
Cash From Operating Activities $3.334M $4.742M
YoY Change -29.69% 30.67%
INVESTING ACTIVITIES
Capital Expenditures $1.449M $1.020M
YoY Change 42.06% -26.51%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K
YoY Change -100.0%
Cash From Investing Activities -$1.449M -$1.007M
YoY Change 43.89% -27.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -$742.0K -$144.0K
YoY Change 415.28% -95.18%
NET CHANGE
Cash From Operating Activities $3.334M $4.742M
Cash From Investing Activities -$1.449M -$1.007M
Cash From Financing Activities -$742.0K -$144.0K
Net Change In Cash $1.143M $3.591M
YoY Change -68.17% -582.01%
FREE CASH FLOW
Cash From Operating Activities $3.334M $4.742M
Capital Expenditures $1.449M $1.020M
Free Cash Flow $1.885M $3.722M
YoY Change -49.36% 66.09%

Facts In Submission

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25377000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7334000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48599000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48277000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1887000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2574000 USD
CY2021Q1 ufpt Contract With Customer Liability Increase Due To Consideration Received From Customers
ContractWithCustomerLiabilityIncreaseDueToConsiderationReceivedFromCustomers
217000 USD
CY2020Q1 ufpt Contract With Customer Liability Increase Due To Consideration Received From Customers
ContractWithCustomerLiabilityIncreaseDueToConsiderationReceivedFromCustomers
525000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
341000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
667000 USD
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1763000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2432000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
271000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
72000 USD
CY2021Q1 ufpt Contract With Customer Asset Increase Decrease For Unbilled Revenue Recognized
ContractWithCustomerAssetIncreaseDecreaseForUnbilledRevenueRecognized
531000 USD
CY2020Q1 ufpt Contract With Customer Asset Increase Decrease For Unbilled Revenue Recognized
ContractWithCustomerAssetIncreaseDecreaseForUnbilledRevenueRecognized
522000 USD
CY2021Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
578000 USD
CY2020Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
404000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
224000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
190000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
13000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
12000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
200000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
232000 USD
CY2020Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
30542000 USD
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
26912000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
524000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
484000 USD
CY2020Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
30018000 USD
CY2020Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
26428000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
484000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
486000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
48000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
60000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
8000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
5000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
524000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
541000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
242000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
348000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3800000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2021Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12066000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12229000 USD
CY2021Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3080000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1991000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7000 USD
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4870000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
4422000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
20016000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
18642000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 USD
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000 USD
CY2020Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
300000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
305000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
60000 USD
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
57000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
372000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
369000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
305000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
305000 USD
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
4000 USD
CY2020Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 USD
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y29D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M13D
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y5M12D
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0226 pure
CY2020Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0 pure
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0436 pure
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0445 pure
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
13000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
907000 USD
CY2021Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
17000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1054000 USD
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
17000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
116000 USD
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
17000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
74000 USD
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
17000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
64000 USD
CY2021Q1 ufpt Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
23000 USD
CY2021Q1 ufpt Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
33000 USD
CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
104000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2248000 USD
CY2021Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
7000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
84000 USD
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
97000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2164000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7507000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7457000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
63000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
81000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7570000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7538000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48599000 USD
CY2021Q1 ufpt Revenue From Contract With Customer Including Assessed Tax Percentage
RevenueFromContractWithCustomerIncludingAssessedTaxPercentage
1.000 pure
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48277000 USD
CY2020Q1 ufpt Revenue From Contract With Customer Including Assessed Tax Percentage
RevenueFromContractWithCustomerIncludingAssessedTaxPercentage
1.000 pure
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23384000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3980000 USD
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
19404000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
314000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
943000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1257000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1257000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1164000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1164000 USD
CY2021Q1 ufpt Finitelived Intangible Asset Expected Amortization After Year Four
FinitelivedIntangibleAssetExpectedAmortizationAfterYearFour
13619000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
19404000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.214 pure
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.178 pure

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