$VIDE
VIDEO DISPLAY CORP

2013 Q4 Form 10-Q Financial Statement

#000119312514010569 Filed on January 14, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4
Revenue $3.721M $12.61M
YoY Change -70.5% -21.35%
Cost Of Revenue $3.494M $4.089M
YoY Change -14.55% -61.68%
Gross Profit $226.0K $295.0K
YoY Change -23.39% -94.51%
Gross Profit Margin 6.07% 2.34%
Selling, General & Admin $1.113M $1.411M
YoY Change -21.12% -59.1%
% of Gross Profit 492.48% 478.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $150.0K $120.0K
YoY Change 25.0% -53.85%
% of Gross Profit 66.37% 40.68%
Operating Expenses $1.113M $1.411M
YoY Change -21.12% -59.1%
Operating Profit -$886.0K -$957.0K
YoY Change -7.42% -149.84%
Interest Expense $23.00K $163.0K
YoY Change -85.89% -185.79%
% of Operating Profit
Other Income/Expense, Net $102.0K -$78.00K
YoY Change -230.77% -211.43%
Pretax Income -$885.0K -$1.035M
YoY Change -14.49% -157.5%
Income Tax -$234.0K -$399.0K
% Of Pretax Income
Net Earnings -$651.0K -$643.0K
YoY Change 1.24% -151.11%
Net Earnings / Revenue -17.5% -5.1%
Basic Earnings Per Share -$0.09 -$0.09
Diluted Earnings Per Share -$0.09 -$0.09
COMMON SHARES
Basic Shares Outstanding 7.593M shares 7.566M shares
Diluted Shares Outstanding 7.609M shares 7.615M shares

Balance Sheet

Concept 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.440M $0.00
YoY Change -100.0%
Cash & Equivalents $1.436M
Short-Term Investments
Other Short-Term Assets $5.640M $6.280M
YoY Change -10.19% -1.57%
Inventory $18.42M $31.58M
Prepaid Expenses
Receivables $2.266M $5.960M
Other Receivables $1.110M $80.00K
Total Short-Term Assets $28.87M $43.91M
YoY Change -34.25% -1.35%
LONG-TERM ASSETS
Property, Plant & Equipment $1.710M $4.300M
YoY Change -60.23% -2.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.00K $760.0K
YoY Change -98.16% 15.15%
Total Long-Term Assets $6.309M $8.010M
YoY Change -21.24% 3.89%
TOTAL ASSETS
Total Short-Term Assets $28.87M $43.91M
Total Long-Term Assets $6.309M $8.010M
Total Assets $35.18M $51.92M
YoY Change -32.25% -0.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $883.0K $3.370M
YoY Change -73.8% 2.43%
Accrued Expenses $779.0K $2.010M
YoY Change -61.24% -18.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $11.09M
YoY Change -100.0%
Long-Term Debt Due $1.398M $4.820M
YoY Change -71.0% 412.77%
Total Short-Term Liabilities $4.081M $21.48M
YoY Change -81.0% 221.08%
LONG-TERM LIABILITIES
Long-Term Debt $245.0K $290.0K
YoY Change -15.52% -98.23%
Other Long-Term Liabilities $1.120M $800.0K
YoY Change 40.0% 566.67%
Total Long-Term Liabilities $245.0K $1.090M
YoY Change -77.52% -93.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.081M $21.48M
Total Long-Term Liabilities $245.0K $1.090M
Total Liabilities $5.450M $22.57M
YoY Change -75.85% -2.88%
SHAREHOLDERS EQUITY
Retained Earnings $32.72M
YoY Change
Common Stock $7.451M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.44M
YoY Change
Treasury Stock Shares 2.139M shares
Shareholders Equity $29.73M $29.35M
YoY Change
Total Liabilities & Shareholders Equity $35.18M $51.92M
YoY Change -32.25% -0.57%

Cashflow Statement

Concept 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income -$651.0K -$643.0K
YoY Change 1.24% -151.11%
Depreciation, Depletion And Amortization $150.0K $120.0K
YoY Change 25.0% -53.85%
Cash From Operating Activities $1.500M $250.0K
YoY Change 500.0% -74.49%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$60.00K $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 -360.0K -290.0K
YoY Change 24.14% -68.48%
NET CHANGE
Cash From Operating Activities 1.500M 250.0K
Cash From Investing Activities -60.00K 0.000
Cash From Financing Activities -360.0K -290.0K
Net Change In Cash 1.080M -40.00K
YoY Change -2800.0% -69.23%
FREE CASH FLOW
Cash From Operating Activities $1.500M $250.0K
Capital Expenditures -$60.00K $0.00
Free Cash Flow $1.560M $250.0K
YoY Change 524.0% -78.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Trading Symbol
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dei Entity Registrant Name
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VIDEO DISPLAY CORP
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dei Amendment Flag
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dei Entity Filer Category
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Smaller Reporting Company
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-11-30
dei Entity Central Index Key
EntityCentralIndexKey
0000758743
dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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Q3
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" align="justify">Note 3. &#x2013; Recent Accounting Pronouncements</p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman" align="justify">In July&#xA0;2013, the FASB amended Accounting Standards Codification (&#x201C;ASC&#x201D;) 740, &#x201C;Income Taxes.&#x201D; The amendment provides guidance on the financial statement presentation of an unrecognized tax benefit, as either a reduction of a deferred tax asset or as a liability, when a net operating loss carry-forward, a similar tax loss, or a tax credit carry-forward exists. The amendments will be effective for interim and annual periods beginning after December&#xA0;15, 2013 and may be applied on a retrospective basis.&#xA0;Early adoption is permitted. The Company does not expect the adoption of this amendment to have a significant effect on the Company&#x2019;s consolidated financial position or results of operations.</p> </div>
us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Stock Repurchased During Period Shares
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P2Y
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us-gaap Interest Paid
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us-gaap Sales Revenue Goods Net
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
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1929000
us-gaap Stock Issued1
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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RepaymentsOfLongTermLinesOfCredit
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750000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Nonoperating Income Expense
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us-gaap Net Income Loss
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us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
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InventoryWriteDown
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us-gaap Deferred Income Tax Expense Benefit
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587000
us-gaap General And Administrative Expense
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Share Based Compensation
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us-gaap Provision For Doubtful Accounts
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us-gaap Selling And Marketing Expense
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us-gaap Operating Expenses
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Proceeds From Divestiture Of Businesses
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15000000
us-gaap Cash Provided By Used In Financing Activities Discontinued Operations
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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
570000
us-gaap Interest Expense
InterestExpense
709000
us-gaap Proceeds From Sale Of Property Plant And Equipment
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499000
us-gaap Net Cash Provided By Used In Discontinued Operations
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8000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
348000
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SalesRevenueGoodsNet
4543000
CY2012Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Amortization Of Intangible Assets
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us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
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0

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