2018 Q4 Form 10-Q Financial Statement

#000114420418060767 Filed on November 19, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $3.555M $3.583M $3.583M
YoY Change 0.0% 0.0% 9.29%
Cost Of Revenue $3.430M $3.070M $2.420M
YoY Change 37.77% 26.86% -18.52%
Gross Profit $1.068M $1.159M $1.159M
YoY Change 0.0% 0.0% 69.25%
Gross Profit Margin 30.03% 32.34% 32.34%
Selling, General & Admin $1.121M $1.099M $1.146M
YoY Change -1.36% -4.12% -0.79%
% of Gross Profit 104.97% 94.8% 98.88%
Research & Development $86.46K $120.9K $168.7K
YoY Change -49.0% -28.32% -7.49%
% of Gross Profit 8.1% 10.43% 14.56%
Depreciation & Amortization $7.300K $0.00 $10.00K
YoY Change -100.0% 0.0%
% of Gross Profit 0.68% 0.0% 0.86%
Operating Expenses $1.207M $1.219M $1.315M
YoY Change -7.55% -7.23% -1.7%
Operating Profit -$145.7K $237.0K -$155.7K
YoY Change -38.8% -252.21% -76.14%
Interest Expense $115.9K $93.93K $22.20K
YoY Change 15.83% 323.13% -26.0%
% of Operating Profit 39.63%
Other Income/Expense, Net
YoY Change
Pretax Income -$517.0K -$120.0K -$170.0K
YoY Change -48.81% -29.41% 183.33%
Income Tax
% Of Pretax Income
Net Earnings -$1.015M -$167.9K -$167.9K
YoY Change 0.0% 0.0% -59.17%
Net Earnings / Revenue -28.54% -4.69% -4.69%
Basic Earnings Per Share
Diluted Earnings Per Share -$223.5K -$51.95K -$73.59K
COMMON SHARES
Basic Shares Outstanding 2.313M shares 2.313M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.4K $10.00K $260.0K
YoY Change 188.7% -96.15% 85.71%
Cash & Equivalents $144.3K $13.07K $257.6K
Short-Term Investments
Other Short-Term Assets $203.5K $260.0K $290.0K
YoY Change 13.04% -10.34% 38.1%
Inventory $7.244M $6.673M $5.850M
Prepaid Expenses $203.5K $263.3K
Receivables $1.015M $533.6K $380.0K
Other Receivables $2.037M $2.240M $1.900M
Total Short-Term Assets $10.65M $9.830M $8.690M
YoY Change 28.84% 13.11% 20.03%
LONG-TERM ASSETS
Property, Plant & Equipment $21.64K $23.28K $50.00K
YoY Change -45.9% -53.43% -14.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.611M $9.026M $10.64M
YoY Change -14.57% -15.17% -6.09%
Other Assets $4.000K $4.000K $0.00
YoY Change
Total Long-Term Assets $8.691M $9.109M $10.75M
YoY Change -14.71% -15.26% -6.21%
TOTAL ASSETS
Total Short-Term Assets $10.65M $9.830M $8.690M
Total Long-Term Assets $8.691M $9.109M $10.75M
Total Assets $19.35M $18.94M $19.44M
YoY Change 4.8% -2.58% 3.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $803.9K $377.9K $4.490M
YoY Change -80.3% -91.58% 96.07%
Accrued Expenses $153.3K $140.0K $130.0K
YoY Change 39.38% 7.69% 18.18%
Deferred Revenue
YoY Change
Short-Term Debt $1.528M $1.550M $1.050M
YoY Change 10.7% 47.62% 59.09%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.318M $7.234M $5.660M
YoY Change 49.07% 27.81% 84.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.318M $7.234M $5.660M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $8.318M $7.230M $5.660M
YoY Change 49.07% 27.74% 84.36%
SHAREHOLDERS EQUITY
Retained Earnings -$2.376M -$1.859M
YoY Change
Common Stock $12.91M $12.91M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.03M $11.70M $13.77M
YoY Change
Total Liabilities & Shareholders Equity $19.35M $18.94M $19.44M
YoY Change 4.8% -2.58% 3.96%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$1.015M -$167.9K -$167.9K
YoY Change 0.0% 0.0% -59.17%
Depreciation, Depletion And Amortization $7.300K $0.00 $10.00K
YoY Change -100.0% 0.0%
Cash From Operating Activities $149.6K -$410.0K $690.0K
YoY Change -127.71% -159.42% -180.23%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $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 -23.44K 350.0K -680.0K
YoY Change -106.89% -151.47% -203.03%
NET CHANGE
Cash From Operating Activities 149.6K -410.0K 690.0K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities -23.44K 350.0K -680.0K
Net Change In Cash 126.2K -60.00K 10.00K
YoY Change -163.09% -700.0% -125.0%
FREE CASH FLOW
Cash From Operating Activities $149.6K -$410.0K $690.0K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow $149.6K -$410.0K $690.0K
YoY Change -127.71% -159.42%

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CY2017 us-gaap Net Income Loss
NetIncomeLoss
2058902 USD
CY2018Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
1546847 USD
us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
Under the 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.
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 7.25% at September 30, 2018).
uuu Accounts Receivables Factoring Agreement Term
AccountsReceivablesFactoringAgreementTerm
P2Y
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-438833 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
237006 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-155714 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
125992 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-492824 USD
uuu Accounts Receivables Factoring Agreement Expiration Date
AccountsReceivablesFactoringAgreementExpirationDate
2020-01-06
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-379479 USD
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-9291 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
UNIVERSAL SECURITY INSTRUMENTS INC
dei Entity Central Index Key
EntityCentralIndexKey
0000102109
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Trading Symbol
TradingSymbol
UUU
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
2312887 shares
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true

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0001144204-18-060767-index.html Edgar Link pending
0001144204-18-060767.txt Edgar Link pending
0001144204-18-060767-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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uuu-20180930.xml Edgar Link completed
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uuu-20180930_cal.xml Edgar Link unprocessable
uuu-20180930_def.xml Edgar Link unprocessable
uuu-20180930_lab.xml Edgar Link unprocessable
uuu-20180930_pre.xml Edgar Link unprocessable