$WLDN
Willdan Group, Inc.

2013 Q2 Form 10-Q Financial Statement

#000110465913061710 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2 2011 Q4
Revenue $20.50M $23.48M $30.01M
YoY Change -12.71% 3.25% 44.91%
Cost Of Revenue $11.44M $17.12M $18.80M
YoY Change -33.17% 26.2% 64.18%
Gross Profit $9.058M $6.365M $11.20M
YoY Change 42.31% -30.66% 21.02%
Gross Profit Margin 44.19% 27.11% 37.33%
Selling, General & Admin $6.100M $7.200M $7.600M
YoY Change -15.28% 7.46% 43.4%
% of Gross Profit 67.34% 113.12% 67.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $140.0K $200.0K $210.0K
YoY Change -30.0% -27.01% -8.7%
% of Gross Profit 1.55% 3.14% 1.87%
Operating Expenses $8.400M $25.95M $10.90M
YoY Change -67.63% 174.32% 38.66%
Operating Profit $718.0K -$19.58M $347.0K
YoY Change -103.67% 6893.93% -75.11%
Interest Expense $0.00 $30.00K $0.00
YoY Change -100.0% 66.67% -100.0%
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net -$38.00K -$21.00K $0.00
YoY Change 80.95% 90.91% -100.0%
Pretax Income $700.0K -$19.63M $300.0K
YoY Change -103.57% 6646.74% -78.31%
Income Tax -$8.000K -$2.657M $1.098M
% Of Pretax Income -1.14% 366.0%
Net Earnings $700.0K -$17.00M -$800.0K
YoY Change -104.12% 5566.67% -200.0%
Net Earnings / Revenue 3.42% -72.4% -2.67%
Basic Earnings Per Share $0.09 -$2.33 -$0.11
Diluted Earnings Per Share $0.09 -$2.33 -$0.11
COMMON SHARES
Basic Shares Outstanding 7.353M shares 7.297M shares 7.273M shares
Diluted Shares Outstanding 7.401M shares 7.297M shares 7.273M shares

Balance Sheet

Concept 2013 Q2 2012 Q2 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.500M $5.500M $3.000M
YoY Change 54.55% -23.61% -60.53%
Cash & Equivalents $8.475M $5.502M $3.001M
Short-Term Investments
Other Short-Term Assets $1.200M $1.500M $1.700M
YoY Change -20.0% 0.0% 54.55%
Inventory
Prepaid Expenses
Receivables $21.30M $32.50M $16.78M
Other Receivables $0.00 $0.00 $100.0K
Total Short-Term Assets $31.05M $39.50M $42.35M
YoY Change -21.4% 14.16% 23.27%
LONG-TERM ASSETS
Property, Plant & Equipment $762.0K $1.049M $1.217M
YoY Change -27.36% -30.07% -18.65%
Goodwill $0.00 $15.21M
YoY Change 21.91%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.800M $5.700M $383.0K
YoY Change -33.33% 470.0% -5.9%
Total Long-Term Assets $4.512M $6.800M $21.96M
YoY Change -33.65% -54.97% 45.46%
TOTAL ASSETS
Total Short-Term Assets $31.05M $39.50M $42.35M
Total Long-Term Assets $4.512M $6.800M $21.96M
Total Assets $35.56M $46.30M $64.31M
YoY Change -23.2% -6.84% 30.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M $11.00M $8.182M
YoY Change -69.09% 139.13% 52.08%
Accrued Expenses $5.110M $8.147M $10.19M
YoY Change -37.28% 33.56% 70.29%
Deferred Revenue
YoY Change
Short-Term Debt $800.0K $4.300M $2.000M
YoY Change -81.4% 86.96% 11.11%
Long-Term Debt Due $300.0K $300.0K $856.0K
YoY Change 0.0% 0.0% 756.0%
Total Short-Term Liabilities $16.68M $29.60M $29.27M
YoY Change -43.64% 77.25% 79.59%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K $77.00K
YoY Change 0.0% -66.67% -23.0%
Other Long-Term Liabilities $200.0K $500.0K $500.0K
YoY Change -60.0% -28.57% -44.44%
Total Long-Term Liabilities $300.0K $600.0K $77.00K
YoY Change -50.0% -40.0% -92.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.68M $29.60M $29.27M
Total Long-Term Liabilities $300.0K $600.0K $77.00K
Total Liabilities $17.00M $30.20M $30.02M
YoY Change -43.73% 70.62% 73.59%
SHAREHOLDERS EQUITY
Retained Earnings $155.0K
YoY Change -109.25%
Common Stock $34.14M
YoY Change 0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.56M $16.10M $34.29M
YoY Change
Total Liabilities & Shareholders Equity $35.56M $46.30M $64.31M
YoY Change -23.2% -6.84% 30.04%

Cashflow Statement

Concept 2013 Q2 2012 Q2 2011 Q4
OPERATING ACTIVITIES
Net Income $700.0K -$17.00M -$800.0K
YoY Change -104.12% 5566.67% -200.0%
Depreciation, Depletion And Amortization $140.0K $200.0K $210.0K
YoY Change -30.0% -27.01% -8.7%
Cash From Operating Activities $1.690M $1.740M -$3.740M
YoY Change -2.87% 159.7% -223.03%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$150.0K -$90.00K
YoY Change -86.67% -174.63% -25.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$20.00K -$140.0K -$80.00K
YoY Change -85.71% -30.0% -96.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.610M -1.110M -1.450M
YoY Change 225.23% -1685.71% -3725.0%
NET CHANGE
Cash From Operating Activities 1.690M 1.740M -3.740M
Cash From Investing Activities -20.00K -140.0K -80.00K
Cash From Financing Activities -3.610M -1.110M -1.450M
Net Change In Cash -1.940M 490.0K -5.270M
YoY Change -495.92% -9.26% -720.0%
FREE CASH FLOW
Cash From Operating Activities $1.690M $1.740M -$3.740M
Capital Expenditures -$20.00K -$150.0K -$90.00K
Free Cash Flow $1.710M $1.890M -$3.650M
YoY Change -9.52% 302.99% -215.51%

Facts In Submission

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dei Entity Registrant Name
EntityRegistrantName
Willdan Group, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001370450
dei Document Type
DocumentType
10-Q
dei Document Period End Date
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2013-06-28
dei Amendment Flag
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dei Current Fiscal Year End Date
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--12-27
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dei Entity Filer Category
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Smaller Reporting Company
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us-gaap Use Of Estimates
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <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;">&#160;</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> </div>
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10555000 USD
CY2013Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10722000 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
762000 USD
CY2013Q2 wldn Compensation And Payroll Taxes Current
CompensationAndPayrollTaxesCurrent
788000 USD
CY2013Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
281000 USD
CY2013Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
95000 USD
CY2013Q2 us-gaap Accrued Rent Current
AccruedRentCurrent
347000 USD
CY2013Q2 wldn Employee Withholdings
EmployeeWithholdings
316000 USD
CY2013Q2 us-gaap Customer Deposits Current
CustomerDepositsCurrent
318000 USD
CY2013Q2 wldn Unvouchered Account Payable Current
UnvoucheredAccountPayableCurrent
1479000 USD
CY2013Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
59000 USD
CY2012Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
52000 USD
CY2012Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1288000 USD
CY2012Q4 wldn Compensation And Payroll Taxes Current
CompensationAndPayrollTaxesCurrent
729000 USD
CY2012Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
338000 USD
CY2012Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
209000 USD
CY2012Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
356000 USD
CY2012Q4 wldn Employee Withholdings
EmployeeWithholdings
215000 USD
CY2012Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
88000 USD
CY2012Q4 wldn Unvouchered Account Payable Current
UnvoucheredAccountPayableCurrent
1800000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
231000 USD
CY2013Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
38000 USD
CY2013Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
1389000 USD
CY2013Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5110000 USD
wldn Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.50 pure
wldn Post Employment Benefits Unamortized Compensation Cost
PostEmploymentBenefitsUnamortizedCompensationCost
0 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-8000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 item
CY2013Q2 us-gaap Revenues
Revenues
20496000 USD
us-gaap Revenues
Revenues
41881000 USD
CY2012Q2 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
46299000 USD
CY2013Q2 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
35558000 USD
CY2012Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
15208000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
15208000 USD

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