2015 Q3 Form 10-Q Financial Statement

#000160626815000156 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $91.27M $68.22M
YoY Change 33.79% -2.41%
Cost Of Revenue $61.00M $51.90M
YoY Change 17.53% -13.5%
Gross Profit $30.30M $16.40M
YoY Change 84.76% 65.66%
Gross Profit Margin 33.2% 24.04%
Selling, General & Admin $15.50M $10.60M
YoY Change 46.23% 39.47%
% of Gross Profit 51.16% 64.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.557M $4.113M
YoY Change 83.73% 21.33%
% of Gross Profit 24.94% 25.08%
Operating Expenses $84.02M $66.61M
YoY Change 26.13% -6.19%
Operating Profit $7.250M $1.607M
YoY Change 351.15% -244.77%
Interest Expense $800.0K $615.0K
YoY Change 30.08% 3.02%
% of Operating Profit 11.03% 38.27%
Other Income/Expense, Net -$795.0K -$575.0K
YoY Change 38.26% 21.56%
Pretax Income $6.455M $1.032M
YoY Change 525.48% -165.19%
Income Tax $580.0K $613.0K
% Of Pretax Income 8.99% 59.4%
Net Earnings $1.314M $1.061M
YoY Change 23.85% -166.44%
Net Earnings / Revenue 1.44% 1.56%
Basic Earnings Per Share $0.42 $0.35
Diluted Earnings Per Share $0.31 $0.03
COMMON SHARES
Basic Shares Outstanding 3.097M shares 3.000M shares
Diluted Shares Outstanding 14.23M shares 13.75M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.40M $7.500M
YoY Change 92.0%
Cash & Equivalents $7.355M $2.483M
Short-Term Investments $7.100M $5.000M
Other Short-Term Assets $4.503M $6.114M
YoY Change -26.35%
Inventory $5.230M $9.659M
Prepaid Expenses $420.0K $1.303M
Receivables $50.28M $48.96M
Other Receivables $0.00 $0.00
Total Short-Term Assets $99.92M $88.69M
YoY Change 12.67%
LONG-TERM ASSETS
Property, Plant & Equipment $4.422M $4.437M
YoY Change -0.34%
Goodwill $18.39M
YoY Change
Intangibles $1.971M
YoY Change
Long-Term Investments
YoY Change
Other Assets $735.0K $204.0K
YoY Change 260.29%
Total Long-Term Assets $60.53M $33.39M
YoY Change 81.3%
TOTAL ASSETS
Total Short-Term Assets $99.92M $88.69M
Total Long-Term Assets $60.53M $33.39M
Total Assets $160.5M $122.1M
YoY Change 31.44% 37.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.73M $33.69M
YoY Change -14.73%
Accrued Expenses $10.41M $4.349M
YoY Change 139.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $31.31M $20.50M
YoY Change 52.71%
Total Short-Term Liabilities $79.58M $62.46M
YoY Change 27.42%
LONG-TERM LIABILITIES
Long-Term Debt $22.23M $0.00
YoY Change
Other Long-Term Liabilities $23.20M $21.10M
YoY Change 9.95%
Total Long-Term Liabilities $22.23M $21.10M
YoY Change 5.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $79.58M $62.46M
Total Long-Term Liabilities $22.23M $21.10M
Total Liabilities $125.9M $83.56M
YoY Change 50.65%
SHAREHOLDERS EQUITY
Retained Earnings -$224.0K $1.061M
YoY Change -121.11%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.85M $10.20M
YoY Change
Total Liabilities & Shareholders Equity $160.5M $122.1M
YoY Change 31.44%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $1.314M $1.061M
YoY Change 23.85% -166.44%
Depreciation, Depletion And Amortization $7.557M $4.113M
YoY Change 83.73% 21.33%
Cash From Operating Activities $3.990M -$13.69M
YoY Change -129.15% 261.21%
INVESTING ACTIVITIES
Capital Expenditures $370.0K $810.0K
YoY Change -54.32% 26.56%
Acquisitions
YoY Change
Other Investing Activities -$41.56M
YoY Change
Cash From Investing Activities -$41.93M -$810.0K
YoY Change 5076.54% 26.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.29M 15.50M
YoY Change 159.94% 582.82%
NET CHANGE
Cash From Operating Activities 3.990M -13.69M
Cash From Investing Activities -41.93M -810.0K
Cash From Financing Activities 40.29M 15.50M
Net Change In Cash 2.350M 1.000M
YoY Change 135.0% -146.3%
FREE CASH FLOW
Cash From Operating Activities $3.990M -$13.69M
Capital Expenditures $370.0K $810.0K
Free Cash Flow $3.620M -$14.50M
YoY Change -124.97% 227.31%

Facts In Submission

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111000 USD
CY2015Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
5000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
326000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
615000 USD
us-gaap Interest Expense
InterestExpense
1150000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
800000 USD
us-gaap Interest Expense
InterestExpense
1415000 USD
us-gaap Interest Paid
InterestPaid
484000 USD
us-gaap Interest Paid
InterestPaid
1061000 USD
CY2014Q4 us-gaap Inventory Net
InventoryNet
8032000 USD
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
33000000 USD
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
53532000 USD
CY2014Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
33000000 USD
CY2015Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
31306000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0 USD
CY2015Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
22226000 USD
CY2014Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
0 USD
CY2015Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
15919000 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
15458000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
25531000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
2987000 USD
CY2015Q3 us-gaap Other Assets Current
OtherAssetsCurrent
4503000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
149000 USD
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
735000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1868000 USD
CY2015Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
834000 USD
CY2014Q4 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
219000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14457000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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6140000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2214000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42819000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11965000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39675000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
1061000 USD
us-gaap Net Income Loss
NetIncomeLoss
1061000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
1314000 USD
us-gaap Net Income Loss
NetIncomeLoss
3884000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-642000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6068000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4561000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18959000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
4399000 USD
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
15182000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
500000 USD
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-575000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1039000 USD
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-795000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1089000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
66610000 USD
us-gaap Operating Expenses
OperatingExpenses
231189000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
84017000 USD
us-gaap Operating Expenses
OperatingExpenses
237782000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1607000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
8945000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7250000 USD
CY2015Q3 us-gaap Other Long Term Debt Noncurrent
OtherLongTermDebtNoncurrent
1605000 USD
CY2014Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
-141000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
1681000 USD
CY2015Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
-545000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
1317000 USD
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
0 USD
us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
330000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
0 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
11691000 USD
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
11700000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
0 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
3333000 USD
CY2014Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2700000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2667000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
265000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
41234000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2214000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1255000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1236000 USD
CY2015Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
420000 USD
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
0 USD
us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
129000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
7075000 USD
CY2014Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
47600000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
-47554000 USD
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
50220000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
60280000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
52225000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
419000 USD
us-gaap Profit Loss
ProfitLoss
7129000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
5875000 USD
us-gaap Profit Loss
ProfitLoss
22843000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31154000 USD
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32513000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4221000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4422000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3973000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6082000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
38280000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
38000000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
50000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
707000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-775000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-224000 USD
CY2014Q3 us-gaap Revenues
Revenues
68217000 USD
us-gaap Revenues
Revenues
240134000 USD
CY2015Q3 us-gaap Revenues
Revenues
91267000 USD
us-gaap Revenues
Revenues
263313000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
362000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1992000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1375000 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
354000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
8659000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
11848000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
24117000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
34574000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
262000 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-6118000 USD
CY2014Q3 us-gaap Utility Revenue
UtilityRevenue
68358000 USD
us-gaap Utility Revenue
UtilityRevenue
238453000 USD
CY2015Q3 us-gaap Utility Revenue
UtilityRevenue
91812000 USD
us-gaap Utility Revenue
UtilityRevenue
261996000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13750000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3000000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14232000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13948000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3000000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3097000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3053000 shares

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