$UUU
UNIVERSAL SECURITY INSTRUMENTS INC

2016 Q2 Form 10-Q Financial Statement

#000114420417044439 Filed on August 21, 2017

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1
Revenue $2.936M $3.413M
YoY Change 0.0% 22.68%
Cost Of Revenue $2.120M $2.510M
YoY Change 3.41% 29.38%
Gross Profit $1.063M $904.0K
YoY Change 20.46% 7.52%
Gross Profit Margin 36.2% 26.48%
Selling, General & Admin $1.114M $1.020M
YoY Change -4.3% 15.91%
% of Gross Profit 104.77% 112.83%
Research & Development $137.6K $170.0K
YoY Change -31.29% -15.0%
% of Gross Profit 12.95% 18.81%
Depreciation & Amortization $7.874K $10.00K
YoY Change -16.1% 0.0%
% of Gross Profit 0.74% 1.11%
Operating Expenses $1.251M $1.190M
YoY Change -8.26% 10.19%
Operating Profit -$188.4K -$286.0K
YoY Change -60.89% 19.56%
Interest Expense $4.236K -$490.0K
YoY Change -101.41% -12.5%
% of Operating Profit
Other Income/Expense, Net -$4.236K
YoY Change -48.85%
Pretax Income -$390.0K -$780.0K
YoY Change -49.81% 1.3%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$777.1K -$775.2K
YoY Change 0.0% 3.57%
Net Earnings / Revenue -26.46% -22.71%
Basic Earnings Per Share
Diluted Earnings Per Share -$168.8K -$337.7K
COMMON SHARES
Basic Shares Outstanding 2.313M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.0K $360.0K
YoY Change -28.0% 620.0%
Cash & Equivalents $175.8K $362.7K
Short-Term Investments
Other Short-Term Assets $600.0K $410.0K
YoY Change 25.0% -61.68%
Inventory $4.510M $3.883M
Prepaid Expenses $410.2K
Receivables $340.0K $17.39K
Other Receivables $1.730M $1.850M
Total Short-Term Assets $7.350M $6.586M
YoY Change -4.17% -2.59%
LONG-TERM ASSETS
Property, Plant & Equipment $60.00K $71.56K
YoY Change -40.0% -31.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $11.40M $12.42M
YoY Change -9.25% -8.57%
Other Assets $10.00K $6.000K
YoY Change -66.67% -76.92%
Total Long-Term Assets $11.53M $11.92M
YoY Change -9.62% -9.29%
TOTAL ASSETS
Total Short-Term Assets $7.350M $6.586M
Total Long-Term Assets $11.53M $11.92M
Total Assets $18.88M $18.51M
YoY Change -7.57% -7.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.950M $587.3K
YoY Change 52.06% -12.19%
Accrued Expenses $110.0K $150.0K
YoY Change -35.29% -16.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $310.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.070M $2.122M
YoY Change 20.87% 84.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.070M $2.122M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.070M $2.120M
YoY Change 20.87% 84.5%
SHAREHOLDERS EQUITY
Retained Earnings $3.022M
YoY Change -41.43%
Common Stock $12.91M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.82M $17.03M
YoY Change
Total Liabilities & Shareholders Equity $18.88M $19.15M
YoY Change -7.59% -3.81%

Cashflow Statement

Concept 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income -$777.1K -$775.2K
YoY Change 0.0% 3.57%
Depreciation, Depletion And Amortization $7.874K $10.00K
YoY Change -16.1% 0.0%
Cash From Operating Activities $290.0K $1.450M
YoY Change -133.93% -307.14%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$160.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$160.0K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -310.0K -1.320M
YoY Change -172.65%
NET CHANGE
Cash From Operating Activities 290.0K 1.450M
Cash From Investing Activities -160.0K 0.000
Cash From Financing Activities -310.0K -1.320M
Net Change In Cash -180.0K 130.0K
YoY Change -57.94% -109.77%
FREE CASH FLOW
Cash From Operating Activities $290.0K $1.450M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q2 uuu Cost Of Goods Sold Other
CostOfGoodsSoldOther
72586 USD
CY2017Q2 uuu Cost Of Goods Sold Other
CostOfGoodsSoldOther
84277 USD
CY2016Q2 us-gaap Gross Profit
GrossProfit
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CY2017Q2 us-gaap Gross Profit
GrossProfit
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CY2017Q2 us-gaap Interest Expense
InterestExpense
18443 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-188357 USD
CY2016Q1 us-gaap Assets
Assets
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CY2016Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-197086 USD
CY2016Q2 uuu Cost Of Goods Sold Acquired From Joint Venture
CostOfGoodsSoldAcquiredFromJointVenture
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CY2017Q2 uuu Cost Of Goods Sold Acquired From Joint Venture
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CY2017Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2016Q2 us-gaap Interest Expense
InterestExpense
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CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
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CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
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CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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2312887 shares
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-166303 USD
CY2016Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-16580 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-182883 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
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-572562 USD
CY2017Q2 us-gaap Depreciation Depletion And Amortization
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CY2017Q2 uuu Increase Decrease In Accounts Receivable And Due From Factor
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CY2017Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2017Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2017Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2017Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2017Q2 us-gaap Interest Paid
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CY2017Q2 us-gaap Income Taxes Paid
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CY2016Q2 us-gaap Increase Decrease In Inventories
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CY2017Q2 us-gaap Increase Decrease In Inventories
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CY2017Q1 uuu Working Capital
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CY2016 us-gaap Net Income Loss
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CY2017 us-gaap Net Income Loss
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CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Liabilities
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Liabilities
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CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Assets
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CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Current Assets
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Current Assets
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CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2017Q2 us-gaap Equity Method Investment Summarized Financial Information Gross Profit Loss
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CY2016Q2 us-gaap Equity Method Investment Summarized Financial Information Gross Profit Loss
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CY2017Q2 uuu Increase Decrease In Working Capital
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CY2017Q2 uuu Working Capital
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CY2017Q2 us-gaap Line Of Credit
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CY2017Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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CY2017Q2 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
bear interest at the prime commercial rate of interest, as published, plus two percent (Effective rate 6.25% at June 30, 2017).
CY2017Q2 uuu Increase Or Decrease In Inter Company Profit In Inventory
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CY2016Q2 uuu Increase Or Decrease In Inter Company Profit In Inventory
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2016Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2017Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2017Q1 us-gaap Accounts Notes And Loans Receivable Net Current
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CY2017Q2 us-gaap Accounts Notes And Loans Receivable Net Current
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CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2017Q2 us-gaap Common Stock Shares Authorized
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CY2017Q1 us-gaap Common Stock Shares Authorized
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CY2017Q2 us-gaap Common Stock Shares Issued
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CY2017Q1 us-gaap Common Stock Shares Issued
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CY2017Q2 us-gaap Common Stock Shares Outstanding
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CY2017Q1 us-gaap Common Stock Shares Outstanding
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CY2017Q2 us-gaap Repayments Of Lines Of Credit
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CY2016Q2 us-gaap Repayments Of Lines Of Credit
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313891 USD
CY2017Q2 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
The Agreement for the assignment of accounts receivable expires on January 6, 2018 and provides for continuation of the program for successive two year periods until terminated by one of the parties to the Agreement. In accordance with the provisions of the Agreement, the Company may take advances equal to eighty percent (80%) of the uncollected non-recourse factored trade accounts receivable balance less applicable factoring commissions and may borrow up to fifty percent (50%) of eligible inventories subject to a borrowing limitation on inventory of $1,000,000.
CY2017Q2 uuu Accounts Receivables Factoring Agreement Expiration Date
AccountsReceivablesFactoringAgreementExpirationDate
2018-01-06
CY2017Q2 uuu Accounts Receivables Factoring Agreement Term
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P2Y
CY2016Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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57000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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152067 USD
CY2017Q2 us-gaap Payments To Acquire Machinery And Equipment
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16106 USD
CY2016Q2 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
0 USD
CY2017Q2 uuu Increase Decrease In Funds Held By Factor
IncreaseDecreaseInFundsHeldByFactor
0 USD
CY2016Q2 uuu Increase Decrease In Funds Held By Factor
IncreaseDecreaseInFundsHeldByFactor
-161305 USD

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