$UUU
UNIVERSAL SECURITY INSTRUMENTS INC

2017 Form 10-Q Financial Statement

#000114420418009787 Filed on February 20, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016
Revenue $14.08M $4.113M $13.74M
YoY Change 2.49% 0.0% 38.91%
Cost Of Revenue $9.935M $2.130M $9.961M
YoY Change -0.27% -23.93% 31.7%
Gross Profit $4.149M $1.308M $3.779M
YoY Change 9.77% 0.0% 62.34%
Gross Profit Margin 29.46% 31.81% 27.51%
Selling, General & Admin $4.444M $1.009M $4.480M
YoY Change -0.81% -11.5% 7.3%
% of Gross Profit 107.13% 77.11% 118.55%
Research & Development $682.5K $200.0K $670.0K
YoY Change 1.87% 33.33% -13.75%
% of Gross Profit 16.45% 15.29% 17.73%
Depreciation & Amortization $29.73K $0.00 $37.53K
YoY Change -20.78% -100.0% -18.52%
% of Gross Profit 0.72% 0.0% 0.99%
Operating Expenses $4.444M $1.009M $5.146M
YoY Change -13.63% -21.79% 3.9%
Operating Profit -$978.1K $299.5K -$1.366M
YoY Change -28.4% 1530.57% -47.94%
Interest Expense -$1.081M $20.34K -$771.6K
YoY Change 40.06% -110.7% -31.63%
% of Operating Profit 6.79%
Other Income/Expense, Net -$63.25K -$20.34K -$29.77K
YoY Change 112.48% 185.05% -230.41%
Pretax Income -$2.059M -$550.0K -$2.138M
YoY Change -3.69% 7608.48% -42.69%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.059M -$174.2K $2.138M
YoY Change -196.31% 0.0% -42.3%
Net Earnings / Revenue -14.62% -4.23% 15.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$890.2K -$238.1K -$924.3K
COMMON SHARES
Basic Shares Outstanding 2.313M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 2016 Q4 2016
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.4K $160.0K $362.7K
YoY Change -27.67% -30.43% 633.83%
Cash & Equivalents $155.8K
Short-Term Investments
Other Short-Term Assets $491.9K $200.0K $410.2K
YoY Change 19.93% -4.76% -61.69%
Inventory $4.700M $5.560M $3.883M
Prepaid Expenses
Receivables $187.6K $250.0K $77.90K
Other Receivables $2.070M $1.280M $1.852M
Total Short-Term Assets $7.712M $7.450M $6.586M
YoY Change 17.09% -6.61% -2.59%
LONG-TERM ASSETS
Property, Plant & Equipment $46.29K $53.11K $71.56K
YoY Change -35.31% -33.46% -31.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.56M $10.61M $12.42M
YoY Change -14.94% -12.18% -4.06%
Other Assets $4.000K $0.00 $6.000K
YoY Change -33.33% -100.0% -76.92%
Total Long-Term Assets $10.68M $10.73M $12.56M
YoY Change -15.02% -12.28% -4.44%
TOTAL ASSETS
Total Short-Term Assets $7.712M $7.450M $6.586M
Total Long-Term Assets $10.68M $10.73M $12.56M
Total Assets $18.39M $18.18M $19.15M
YoY Change -3.97% -10.04% -3.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.732M $2.540M $1.657M
YoY Change 4.52% 500.15% 71.08%
Accrued Expenses $158.5K $120.0K $150.8K
YoY Change 5.11% -60.0% -16.31%
Deferred Revenue
YoY Change
Short-Term Debt $2.264M $690.0K $313.9K
YoY Change 621.31% -57.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.155M $3.350M $2.122M
YoY Change 95.79% 3.84% 84.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.155M $3.350M $2.122M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.155M $3.350M $2.122M
YoY Change 95.79% 3.72% 84.69%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $12.89M
YoY Change -0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.23M $14.83M $17.03M
YoY Change
Total Liabilities & Shareholders Equity $18.39M $18.18M $19.15M
YoY Change -3.97% -10.06% -3.81%

Cashflow Statement

Concept 2017 2016 Q4 2016
OPERATING ACTIVITIES
Net Income -$2.059M -$174.2K $2.138M
YoY Change -196.31% 0.0% -42.3%
Depreciation, Depletion And Amortization $29.73K $0.00 $37.53K
YoY Change -20.78% -100.0% -18.52%
Cash From Operating Activities $2.153M -$120.0K $823.0K
YoY Change 161.64% -83.78% -160.08%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $102.6K $100.0K $822.4K
YoY Change -87.53% -87.8% -230.14%
Cash From Investing Activities $102.6K $100.0K $822.4K
YoY Change -87.53% -87.8% -230.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.950M 30.00K 313.9K
YoY Change 521.31% -95.24%
NET CHANGE
Cash From Operating Activities $2.153M -120.0K $823.0K
Cash From Investing Activities $102.6K 100.0K 822.4K
Cash From Financing Activities $1.950M 30.00K 313.9K
Net Change In Cash $4.206M 10.00K $823.0K
YoY Change 411.08% -98.59% -141.12%
FREE CASH FLOW
Cash From Operating Activities $2.153M -$120.0K $823.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
us-gaap Gross Profit
GrossProfit
3358390 USD
us-gaap Gross Profit
GrossProfit
3207869 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-730830 USD
us-gaap Net Income Loss
NetIncomeLoss
-1003551 USD
us-gaap Net Income Loss
NetIncomeLoss
-1726384 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.75
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.43
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2312887 shares
uuu Cost Of Goods Sold Other
CostOfGoodsSoldOther
225870 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2312887 shares
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3425754 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3277480 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
512945 USD
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.44
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.24
CY2016Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2312887 shares
CY2017Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2312887 shares
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1136033 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1008865 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
169521 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
10456484 USD
uuu Cost Of Goods Sold Acquired From Joint Venture
CostOfGoodsSoldAcquiredFromJointVenture
6949332 USD
uuu Cost Of Goods Sold Acquired From Joint Venture
CostOfGoodsSoldAcquiredFromJointVenture
7022745 USD
uuu Cost Of Goods Sold Other
CostOfGoodsSoldOther
262222 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
519621 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
121493 USD
CY2017Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-893303 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
375597 USD
CY2017Q4 us-gaap Interest Expense
InterestExpense
100085 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-515717 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-854826 USD
uuu Increase Decrease In Accounts Receivable And Due From Factor
IncreaseDecreaseInAccountsReceivableAndDueFromFactor
-398177 USD
uuu Increase Decrease In Accounts Receivable And Due From Factor
IncreaseDecreaseInAccountsReceivableAndDueFromFactor
230183 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
845338 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2307303 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-689358 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
689175 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
379875 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-882899 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-206902 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-209830 USD
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
362728 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
155826 USD
us-gaap Interest Paid Net
InterestPaidNet
49123 USD
us-gaap Interest Paid Net
InterestPaidNet
140728 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1466836 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
539971 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
16106 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
0 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-882899 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
379875 USD
CY2017Q1 uuu Working Capital
WorkingCapital
3556524 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2153188 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
822957 USD
CY2017Q4 us-gaap Line Of Credit
LineOfCredit
722000 USD
CY2017Q3 us-gaap Line Of Credit Facility Capacity Available For Trade Purchases
LineOfCreditFacilityCapacityAvailableForTradePurchases
1000000 USD
CY2017Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
722000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
2655138 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
4352661 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
3878625 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
25825609 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
12794028 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
13136416 USD
us-gaap Equity Method Investment Summarized Financial Information Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
1580652 USD
us-gaap Equity Method Investment Summarized Financial Information Gross Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationGrossProfitLoss
2169453 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
10169231 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
13271177 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-1561216 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-782051 USD
uuu Increase Or Decrease In Inter Company Profit In Inventory
IncreaseOrDecreaseInInterCompanyProfitInInventory
124692 USD
uuu Increase Or Decrease In Inter Company Profit In Inventory
IncreaseOrDecreaseInInterCompanyProfitInInventory
74218 USD
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
57000 USD
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2312887 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2312887 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2312887 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2312887 shares
CY2017Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
150095 USD
CY2016Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-180486 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
395580 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-460330 USD
CY2017Q4 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-28602 USD
CY2016Q4 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-69389 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-19983 USD
us-gaap Interest Expense
InterestExpense
49123 USD
CY2016Q4 us-gaap Interest Expense
InterestExpense
20338 USD
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
57000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
689175 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1000000 USD
us-gaap Interest Expense
InterestExpense
140728 USD
uuu Accounts Receivables Factoring Agreement Term
AccountsReceivablesFactoringAgreementTerm
P2Y
uuu Accounts Receivables Factoring Agreement Expiration Date
AccountsReceivablesFactoringAgreementExpirationDate
2018-01-07
us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
Under the modified Agreement the Company may borrow eighty percent (80%) of eligible accounts receivable. Additional funding, characterized by Merchant as an over advance, may be provided up to one hundred percent (100%) of eligible accounts receivable. The over advance portion, if any, may not exceed fifty percent (50%) of eligible inventory up to a maximum of $500,000.
uuu Proceeds From Cash Distributions From Joint Venture
ProceedsFromCashDistributionsFromJointVenture
102581 USD
uuu Proceeds From Cash Distributions From Joint Venture
ProceedsFromCashDistributionsFromJointVenture
0 USD
CY2017Q4 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
380741 USD
CY2017Q1 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
247681 USD
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20000000 shares
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
20000000 shares

Files In Submission

Name View Source Status
0001144204-18-009787-index-headers.html Edgar Link pending
0001144204-18-009787-index.html Edgar Link pending
0001144204-18-009787.txt Edgar Link pending
0001144204-18-009787-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tv484889_10q.htm Edgar Link pending
tv484889_ex31-1.htm Edgar Link pending
tv484889_ex31-2.htm Edgar Link pending
tv484889_ex32-1.htm Edgar Link pending
tv484889_ex99-1.htm Edgar Link pending
tv484889_ex99-1img1.jpg Edgar Link pending
uuu-20171231.xml Edgar Link completed
uuu-20171231.xsd Edgar Link pending
uuu-20171231_cal.xml Edgar Link unprocessable
uuu-20171231_def.xml Edgar Link unprocessable
uuu-20171231_lab.xml Edgar Link unprocessable
uuu-20171231_pre.xml Edgar Link unprocessable