$WHG
WESTWOOD HOLDINGS GROUP INC

2014 Q2 Form 10-Q Financial Statement

#000156459014002990 Filed on July 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $30.91M $23.48M
YoY Change 31.65% 16.99%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.759M $1.618M
YoY Change 8.71% 10.67%
% of Gross Profit
Research & Development $1.014M $678.0K
YoY Change 49.56% 7.79%
% of Gross Profit
Depreciation & Amortization $240.0K $190.0K
YoY Change 26.32% -9.52%
% of Gross Profit
Operating Expenses $2.773M $15.74M
YoY Change -82.38% -3.51%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $13.36M $7.851M
YoY Change 70.12% 109.25%
Income Tax $4.765M $2.854M
% Of Pretax Income 35.68% 36.35%
Net Earnings $8.591M $4.955M
YoY Change 73.38% 125.43%
Net Earnings / Revenue 27.8% 21.11%
Basic Earnings Per Share $1.14 $0.67
Diluted Earnings Per Share $1.12 $0.66
COMMON SHARES
Basic Shares Outstanding 7.523M shares 7.350M
Diluted Shares Outstanding 7.679M shares 7.496M

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $73.80M $57.50M
YoY Change 28.35% 11.43%
Cash & Equivalents $16.06M $6.133M
Short-Term Investments $57.80M $51.40M
Other Short-Term Assets $5.000M $2.250M
YoY Change 122.22% -71.88%
Inventory
Prepaid Expenses
Receivables $16.70M $12.86M
Other Receivables $0.00 $0.00
Total Short-Term Assets $95.50M $75.82M
YoY Change 25.96% 11.17%
LONG-TERM ASSETS
Property, Plant & Equipment $2.700M $2.190M
YoY Change 23.29% -0.45%
Goodwill $11.26M $11.26M
YoY Change 0.0% 0.0%
Intangibles $3.969M
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.100M $2.000M
YoY Change 5.0%
Total Long-Term Assets $19.69M $19.38M
YoY Change 1.63% 8.24%
TOTAL ASSETS
Total Short-Term Assets $95.50M $75.82M
Total Long-Term Assets $19.69M $19.38M
Total Assets $115.2M $95.20M
YoY Change 21.01% 10.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M $1.800M
YoY Change 5.56% 0.0%
Accrued Expenses $8.900M $8.400M
YoY Change 5.95% 12.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.00M $13.72M
YoY Change 9.31% 7.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.200M $2.000M
YoY Change 10.0% 53.85%
Total Long-Term Liabilities $2.200M $2.038M
YoY Change 7.95% 56.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.00M $13.72M
Total Long-Term Liabilities $2.200M $2.038M
Total Liabilities $17.20M $15.76M
YoY Change 9.13% 7.22%
SHAREHOLDERS EQUITY
Retained Earnings $7.677M
YoY Change
Common Stock $95.10M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $23.14M
YoY Change
Treasury Stock Shares $601.6K
Shareholders Equity $98.00M $79.43M
YoY Change
Total Liabilities & Shareholders Equity $115.2M $95.20M
YoY Change 21.01% 10.56%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $8.591M $4.955M
YoY Change 73.38% 125.43%
Depreciation, Depletion And Amortization $240.0K $190.0K
YoY Change 26.32% -9.52%
Cash From Operating Activities $2.130M $4.410M
YoY Change -51.7% 105.12%
INVESTING ACTIVITIES
Capital Expenditures -$180.0K -$60.00K
YoY Change 200.0% -57.14%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$180.0K -$60.00K
YoY Change 200.0% -107.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.320M -3.890M
YoY Change -14.65% 1196.67%
NET CHANGE
Cash From Operating Activities 2.130M 4.410M
Cash From Investing Activities -180.0K -60.00K
Cash From Financing Activities -3.320M -3.890M
Net Change In Cash -1.370M 460.0K
YoY Change -397.83% -82.71%
FREE CASH FLOW
Cash From Operating Activities $2.130M $4.410M
Capital Expenditures -$180.0K -$60.00K
Free Cash Flow $2.310M $4.470M
YoY Change -48.32% 95.2%

Facts In Submission

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us-gaap Costs And Expenses
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Depreciation
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Other Employee Related Liabilities
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us-gaap Increase Decrease In Accrued Taxes Payable
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us-gaap Increase Decrease In Accrued Taxes Payable
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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whg Number Of Limited Liability Companies In Which Some Clients Hold Their Investments
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us-gaap Use Of Estimates
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<div> <p style="margin-bottom:0pt;margin-top:18pt;line-height:11pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;line-height:11pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. We believe the most significant estimates and assumptions are associated with the valuation of deferred taxes, stock-based compensation and impairment assessments of goodwill and intangible assets. Actual results could differ from those estimates. </p></div>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2001-12-12
us-gaap Goodwill Impairment Loss
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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whg Incremental Common Shares Attributable To Nonvested Restricted Shares
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