$WLDN
Willdan Group, Inc.

2012 Q3 Form 10-Q Financial Statement

#000110465912075967 Filed on November 08, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $21.55M $28.61M
YoY Change -24.67% 40.22%
Cost Of Revenue $11.29M $16.86M
YoY Change -33.02% 56.06%
Gross Profit $10.26M $11.75M
YoY Change -12.71% 22.4%
Gross Profit Margin 47.6% 41.08%
Selling, General & Admin $6.300M $6.700M
YoY Change -5.97% 19.64%
% of Gross Profit 61.42% 57.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $180.0K $250.0K
YoY Change -28.0% 0.0%
% of Gross Profit 1.75% 2.13%
Operating Expenses $8.837M $9.370M
YoY Change -5.69% 12.89%
Operating Profit $1.420M $2.380M
YoY Change -40.34% 83.08%
Interest Expense $28.00K $21.00K
YoY Change 33.33%
% of Operating Profit 1.97% 0.88%
Other Income/Expense, Net -$40.00K -$12.00K
YoY Change 233.33%
Pretax Income $1.380M $2.368M
YoY Change -41.72% 82.15%
Income Tax $593.0K $203.0K
% Of Pretax Income 42.97% 8.57%
Net Earnings $800.0K $700.0K
YoY Change 14.29% -46.15%
Net Earnings / Revenue 3.71% 2.45%
Basic Earnings Per Share $0.11 $0.30
Diluted Earnings Per Share $0.11 $0.29
COMMON SHARES
Basic Shares Outstanding 7.315M shares 7.267M shares
Diluted Shares Outstanding 7.315M shares 7.468M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.200M $7.200M
YoY Change 27.78% 5.88%
Cash & Equivalents $9.230M $8.275M
Short-Term Investments
Other Short-Term Assets $1.100M $1.400M
YoY Change -21.43% -6.67%
Inventory
Prepaid Expenses
Receivables $14.08M $27.00M
Other Receivables $200.0K $100.0K
Total Short-Term Assets $35.66M $35.70M
YoY Change -0.1% 14.79%
LONG-TERM ASSETS
Property, Plant & Equipment $1.014M $1.400M
YoY Change -27.57% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $353.0K $1.000M
YoY Change -64.7% -28.57%
Total Long-Term Assets $6.723M $17.70M
YoY Change -62.02% 15.69%
TOTAL ASSETS
Total Short-Term Assets $35.66M $35.70M
Total Long-Term Assets $6.723M $17.70M
Total Assets $42.39M $53.40M
YoY Change -20.63% 15.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.946M $4.000M
YoY Change 23.65% 185.71%
Accrued Expenses $7.536M $7.700M
YoY Change -2.13% 26.23%
Deferred Revenue
YoY Change
Short-Term Debt $4.500M $1.500M
YoY Change 200.0% -16.67%
Long-Term Debt Due $200.0K $300.0K
YoY Change -33.33% 200.0%
Total Short-Term Liabilities $24.81M $19.70M
YoY Change 25.92% 35.86%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $200.0K
YoY Change -50.0% 100.0%
Other Long-Term Liabilities $400.0K $700.0K
YoY Change -42.86% -22.22%
Total Long-Term Liabilities $500.0K $900.0K
YoY Change -44.44% -10.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.81M $19.70M
Total Long-Term Liabilities $500.0K $900.0K
Total Liabilities $25.38M $20.60M
YoY Change 23.21% 32.9%
SHAREHOLDERS EQUITY
Retained Earnings -$17.45M
YoY Change
Common Stock $34.45M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.00M $32.80M
YoY Change
Total Liabilities & Shareholders Equity $42.39M $53.40M
YoY Change -20.63% 15.09%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $800.0K $700.0K
YoY Change 14.29% -46.15%
Depreciation, Depletion And Amortization $180.0K $250.0K
YoY Change -28.0% 0.0%
Cash From Operating Activities $3.690M $910.0K
YoY Change 305.49% -327.5%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$60.00K
YoY Change 0.0% -40.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$50.00K -$60.00K
YoY Change -16.67% -25.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K -860.0K
YoY Change -111.63% 1333.33%
NET CHANGE
Cash From Operating Activities 3.690M 910.0K
Cash From Investing Activities -50.00K -60.00K
Cash From Financing Activities 100.0K -860.0K
Net Change In Cash 3.740M -10.00K
YoY Change -37500.0% -98.15%
FREE CASH FLOW
Cash From Operating Activities $3.690M $910.0K
Capital Expenditures -$60.00K -$60.00K
Free Cash Flow $3.750M $970.0K
YoY Change 286.6% -423.33%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 46pt"><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">Use of Estimates</font></i></p> <p style="TEXT-INDENT: -10pt; MARGIN: 0in 0in 0pt 46pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">&#160;</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">The preparation of consolidated financial statements in conformity with generally accepted accounting principles in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Estimates also affect the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></p></td></tr></table>
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10606000 USD
CY2012Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10746000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1014000 USD
CY2011Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
944000 USD
CY2011Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1415000 USD
CY2011Q4 wldn Compensation And Payroll Taxes Current
CompensationAndPayrollTaxesCurrent
770000 USD
CY2011Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
101000 USD
CY2011Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
24000 USD
CY2011Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
320000 USD
CY2011Q4 wldn Employee Withholdings
EmployeeWithholdings
234000 USD
CY2011Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
247000 USD
CY2011Q4 wldn Unvouchered Account Payable Current
UnvoucheredAccountPayableCurrent
6083000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
54000 USD
CY2012Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
56000 USD
CY2012Q3 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1400000 USD
CY2012Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
435000 USD
CY2012Q3 us-gaap Common Stock Value
CommonStockValue
73000 USD
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 item
us-gaap Revenues
Revenues
70496000 USD
CY2012Q3 us-gaap Revenues
Revenues
21547000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-20591000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1380000 USD
CY2012Q3 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
42386000 USD
CY2011Q3 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
58224000 USD
us-gaap Cost Of Revenue
CostOfRevenue
45600000 USD
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
8837000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1420000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-20480000 USD
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-40000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-111000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1885000 USD
CY2012Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
14079000 USD
CY2012Q3 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
11154000 USD
CY2012Q3 us-gaap Other Receivables
OtherReceivables
128000 USD
CY2012Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1072000 USD
CY2012Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
353000 USD
CY2012Q3 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
5336000 USD
CY2012Q3 us-gaap Assets
Assets
42386000 USD
CY2012Q3 us-gaap Bank Overdrafts
BankOverdrafts
1496000 USD
CY2012Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
3000000 USD
CY2012Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
4946000 USD
CY2012Q3 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
3607000 USD
CY2012Q3 us-gaap Notes Payable Current
NotesPayableCurrent
71000 USD
CY2012Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
150000 USD
CY2012Q3 us-gaap Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
4001000 USD
CY2012Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
24000 USD
CY2012Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
116000 USD
CY2012Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
34376000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17445000 USD
CY2012Q3 us-gaap Cost Of Services Direct Labor
CostOfServicesDirectLabor
5680000 USD
CY2012Q3 wldn Cost Of Sub Consultant Services
CostOfSubConsultantServices
7104000 USD
CY2012Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
-1494000 USD
CY2012Q3 wldn Labor And Related Expense Excluding Stock Based Compensation
LaborAndRelatedExpenseExcludingStockBasedCompensation
5075000 USD
CY2012Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1224000 USD
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
50000 USD
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
163000 USD
wldn Gain Loss On Lease Abandonment Recovery Expense Net
GainLossOnLeaseAbandonmentRecoveryExpenseNet
-27000 USD
CY2012Q3 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
2328000 USD
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
8441000 USD
us-gaap Operating Expenses
OperatingExpenses
45376000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
28000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-14000 USD
us-gaap Cost Of Services Direct Labor
CostOfServicesDirectLabor
17613000 USD
wldn Cost Of Sub Consultant Services
CostOfSubConsultantServices
29072000 USD
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
-1085000 USD
wldn Labor And Related Expense Excluding Stock Based Compensation
LaborAndRelatedExpenseExcludingStockBasedCompensation
17342000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3659000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
181000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
59000 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
93000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
2733000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
5300000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
518000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
4000 USD
us-gaap Interest Expense
InterestExpense
80000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-35000 USD
us-gaap Other Noncash Income
OtherNoncashIncome
902000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
569000 USD
wldn Lease Abandonment Recovery Expense Net
LeaseAbandonmentRecoveryExpenseNet
27000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-17000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
793000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1910000 USD
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-9518000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-47000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-652000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-30000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3236000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2656000 USD
us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
2855000 USD
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-126000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
4605000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
275000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
14000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4000 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-281000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
582000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
11663000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8919000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
126000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
120000 USD
us-gaap Interest Paid Net
InterestPaidNet
79000 USD

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