2019 Q4 Form 10-Q Financial Statement

#000108803419000042 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $7.370M $7.088M $6.420M
YoY Change 14.8% 9.48% 14.23%
Cost Of Revenue $5.870M $5.539M $4.900M
YoY Change 19.8% 10.46% 13.43%
Gross Profit $1.500M $1.548M $1.520M
YoY Change -1.32% 6.12% 16.92%
Gross Profit Margin 20.35% 21.85% 23.68%
Selling, General & Admin $340.0K $2.777M $290.0K
YoY Change 17.24% 21.68% -6.45%
% of Gross Profit 22.67% 179.34% 19.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $540.0K $500.0K $490.0K
YoY Change 10.2% 6.38% 0.0%
% of Gross Profit 36.0% 32.29% 32.24%
Operating Expenses $2.980M $2.777M $2.380M
YoY Change 25.21% 21.68% 0.0%
Operating Profit -$1.480M -$1.228M -$860.0K
YoY Change 72.09% 49.28% -20.37%
Interest Expense $20.00K $20.00K $30.00K
YoY Change -33.33% 0.0% 200.0%
% of Operating Profit
Other Income/Expense, Net -$30.00K $21.39K $0.00
YoY Change -13.58%
Pretax Income -$1.500M -$1.207M -$830.0K
YoY Change 80.72% 51.23% -21.7%
Income Tax $30.00K $31.96K $40.00K
% Of Pretax Income
Net Earnings -$1.530M -$1.239M -$880.0K
YoY Change 73.86% 52.37% -32.31%
Net Earnings / Revenue -20.76% -17.48% -13.71%
Basic Earnings Per Share -$0.09
Diluted Earnings Per Share -$116.7K -$0.09 -$72.01K
COMMON SHARES
Basic Shares Outstanding 16.91M shares 13.05M 15.94M shares
Diluted Shares Outstanding 13.05M

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.140M $2.640M $2.700M
YoY Change -20.74% -2.94% -43.75%
Cash & Equivalents $2.138M $2.636M $2.160M
Short-Term Investments
Other Short-Term Assets $49.63M $49.63M $56.89M
YoY Change -12.76% 2.22% 6.96%
Inventory
Prepaid Expenses $183.6K $213.0K $101.7K
Receivables $1.274M $1.159M $1.214M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $53.05M $53.54M $60.91M
YoY Change -12.9% 2.01% 3.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.558M $1.744M $1.933M
YoY Change -19.41% -14.95% -8.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $404.1K $333.4K $5.377M
YoY Change -92.49% 9.77% 3312.68%
Total Long-Term Assets $8.513M $7.202M $5.377M
YoY Change 58.32% 28.05% -13.66%
TOTAL ASSETS
Total Short-Term Assets $53.05M $53.54M $60.91M
Total Long-Term Assets $8.513M $7.202M $5.377M
Total Assets $61.56M $62.48M $68.22M
YoY Change -9.76% 3.86% 1.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $419.8K $240.7K $308.2K
YoY Change 36.24% -4.44% 2.47%
Accrued Expenses $1.361M $1.215M $852.7K
YoY Change 59.55% -0.2% -15.26%
Deferred Revenue $123.5K $137.0K $20.00K
YoY Change 517.65% 291.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.71M $51.26M $58.50M
YoY Change -11.61% 2.78% 7.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.280M $2.450M $80.00K
YoY Change 2750.0% 3983.33%
Total Long-Term Liabilities $2.280M $2.450M $80.00K
YoY Change 2750.0% 3983.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.71M $51.26M $58.50M
Total Long-Term Liabilities $2.280M $2.450M $80.00K
Total Liabilities $53.99M $53.72M $58.58M
YoY Change -7.84% 7.57% 7.86%
SHAREHOLDERS EQUITY
Retained Earnings -$62.15M -$60.62M -$57.04M
YoY Change 8.97% 7.95% 7.09%
Common Stock $186.7K $186.4K $185.6K
YoY Change 0.59% 0.54% -0.4%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.885M $1.866M $1.814M
YoY Change 3.96% 3.82% 118.22%
Treasury Stock Shares $1.120M 1.110M shares 1.086M shares
Shareholders Equity $7.568M $8.769M $9.634M
YoY Change
Total Liabilities & Shareholders Equity $61.56M $62.48M $68.22M
YoY Change -9.76% 3.86% 1.16%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income -$1.530M -$1.239M -$880.0K
YoY Change 73.86% 52.37% -32.31%
Depreciation, Depletion And Amortization $540.0K $500.0K $490.0K
YoY Change 10.2% 6.38% 0.0%
Cash From Operating Activities -$750.0K -$580.0K -$850.0K
YoY Change -11.76% -43.69% 962.5%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K -$210.0K -$120.0K
YoY Change -8.33% 40.0% 300.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$110.0K -$210.0K -$120.0K
YoY Change -8.33% 40.0% -700.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.00K 0.000 -10.00K
YoY Change 100.0% -100.0% -100.37%
NET CHANGE
Cash From Operating Activities -750.0K -580.0K -850.0K
Cash From Investing Activities -110.0K -210.0K -120.0K
Cash From Financing Activities -20.00K 0.000 -10.00K
Net Change In Cash -880.0K -790.0K -980.0K
YoY Change -10.2% -33.61% -136.84%
FREE CASH FLOW
Cash From Operating Activities -$750.0K -$580.0K -$850.0K
Capital Expenditures -$110.0K -$210.0K -$120.0K
Free Cash Flow -$640.0K -$370.0K -$730.0K
YoY Change -12.33% -57.95% 1360.0%

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CY2019Q3 us-gaap Preferred Stock Shares Outstanding
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CY2018Q4 us-gaap Preferred Stock Value
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CY2019Q3 us-gaap Preferred Stock Value
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us-gaap Proceeds From Issuance Of Common Stock
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CY2018Q3 us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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CY2019Q3 us-gaap Share Based Compensation
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CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Share Based Compensation
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CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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StockholdersEquity
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CY2018Q4 us-gaap Treasury Stock Shares
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TreasuryStockValueAcquiredCostMethod
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TreasuryStockValueAcquiredCostMethod
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CY2018Q4 us-gaap Valuation Allowances And Reserves Balance
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475302 USD
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12098828 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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12145323 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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12098828 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates:</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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