$WYY
WIDEPOINT CORP

2015 Q2 Form 10-Q Financial Statement

#000114420415029362 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $17.43M $17.70M $9.603M
YoY Change 40.65% 84.28% -19.76%
Cost Of Revenue $14.13M $14.13M $7.140M
YoY Change 60.93% 97.9% -17.84%
Gross Profit $3.306M $3.570M $2.467M
YoY Change -8.51% 44.69% -24.65%
Gross Profit Margin 18.97% 20.17% 25.69%
Selling, General & Admin $4.616M $4.566M $3.901M
YoY Change -1.88% 17.06% 17.05%
% of Gross Profit 139.61% 127.91% 158.11%
Research & Development $68.85K
YoY Change
% of Gross Profit 1.93%
Depreciation & Amortization $91.95K $98.30K $69.51K
YoY Change -35.8% 41.41% 4.88%
% of Gross Profit 2.78% 2.75% 2.82%
Operating Expenses $4.708M $4.665M $3.970M
YoY Change -2.89% 17.49% 16.82%
Operating Profit -$1.401M -$1.095M -$1.503M
YoY Change 13.59% -27.17% 1107.81%
Interest Expense $36.15K $44.24K $46.23K
YoY Change -21.99% -4.3% -22.42%
% of Operating Profit
Other Income/Expense, Net $37.04K -$30.88K -$39.62K
YoY Change -203.42% -22.06% -27.12%
Pretax Income -$1.364M -$1.126M -$1.543M
YoY Change 7.47% -27.04% 762.79%
Income Tax $45.20K $32.14K -$616.1K
% Of Pretax Income
Net Earnings -$1.410M -$1.158M -$926.7K
YoY Change 110.63% 24.93% 2527.51%
Net Earnings / Revenue -8.09% -6.54% -9.65%
Basic Earnings Per Share -$0.02 -$0.01 -$0.01
Diluted Earnings Per Share -$0.02 -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 82.14M shares 81.74M shares 66.83M shares
Diluted Shares Outstanding 82.12M shares 81.74M shares 66.83M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.690M $11.52M $10.13M
YoY Change 136.34% 13.72% 301.98%
Cash & Equivalents $9.690M $11.52M $10.13M
Short-Term Investments
Other Short-Term Assets $620.0K $590.0K $570.0K
YoY Change 12.73% 3.51% -34.48%
Inventory $20.00K $26.22K $43.81K
Prepaid Expenses
Receivables $17.73M $9.917M $5.188M
Other Receivables $0.00 $0.00 $400.0K
Total Short-Term Assets $28.07M $27.83M $17.69M
YoY Change 104.5% 57.3% 63.22%
LONG-TERM ASSETS
Property, Plant & Equipment $1.550M $1.556M $1.466M
YoY Change -15.62% 6.15% 1.81%
Goodwill $18.56M $16.62M
YoY Change 11.66%
Intangibles $5.725M
YoY Change
Long-Term Investments
YoY Change
Other Assets $139.5K $142.4K $119.1K
YoY Change 17.96% 19.5% -96.69%
Total Long-Term Assets $25.89M $25.98M $26.06M
YoY Change -20.02% -0.31% -0.83%
TOTAL ASSETS
Total Short-Term Assets $28.07M $27.83M $17.69M
Total Long-Term Assets $25.89M $25.98M $26.06M
Total Assets $53.96M $53.81M $43.75M
YoY Change 17.05% 22.98% 17.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.660M $7.210M $3.218M
YoY Change 143.91% 124.05% -23.2%
Accrued Expenses $5.945M $5.926M $2.869M
YoY Change 40.81% 106.54% 5.11%
Deferred Revenue
YoY Change
Short-Term Debt $160.0K $80.00K $70.00K
YoY Change 433.33% 14.29% 0.0%
Long-Term Debt Due $869.3K $2.193M $949.8K
YoY Change -59.83% 130.88% -0.02%
Total Short-Term Liabilities $17.47M $16.35M $7.957M
YoY Change 49.75% 105.45% -4.71%
LONG-TERM LIABILITIES
Long-Term Debt $887.4K $1.109M $2.509M
YoY Change -51.51% -55.81% -47.61%
Other Long-Term Liabilities $200.0K $210.0K $90.00K
YoY Change 122.22% 133.33% 200.0%
Total Long-Term Liabilities $887.4K $1.109M $2.509M
YoY Change -53.78% -55.81% -47.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.47M $16.35M $7.957M
Total Long-Term Liabilities $887.4K $1.109M $2.509M
Total Liabilities $19.06M $18.14M $10.61M
YoY Change 40.24% 70.94% -19.36%
SHAREHOLDERS EQUITY
Retained Earnings -$58.38M -$56.97M -$48.34M
YoY Change 17.86%
Common Stock $93.53M $92.91M $81.48M
YoY Change 14.68% 14.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.90M $35.67M $33.14M
YoY Change
Total Liabilities & Shareholders Equity $53.96M $53.81M $43.75M
YoY Change 17.05% 22.98% 17.87%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$1.410M -$1.158M -$926.7K
YoY Change 110.63% 24.93% 2527.51%
Depreciation, Depletion And Amortization $91.95K $98.30K $69.51K
YoY Change -35.8% 41.41% 4.88%
Cash From Operating Activities -$670.0K -$1.290M -$52.55K
YoY Change -45.08% 2355.54% -105.44%
INVESTING ACTIVITIES
Capital Expenditures -$290.0K $93.03K $19.08K
YoY Change 81.25% 387.68% -81.66%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$290.0K -$93.03K -$157.9K
YoY Change -93.14% -41.07% 51.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $11.47M
YoY Change -100.0%
Debt Paid & Issued, Net $209.9K $200.7K
YoY Change 4.61% 4.61%
Cash From Financing Activities -890.0K -$99.03K $10.34M
YoY Change 58.93% -100.96% -5214.2%
NET CHANGE
Cash From Operating Activities -670.0K -$1.290M -$52.55K
Cash From Investing Activities -290.0K -$93.03K -$157.9K
Cash From Financing Activities -890.0K -$99.03K $10.34M
Net Change In Cash -1.850M -$1.482M $10.13M
YoY Change -69.22% -114.63% 1435.86%
FREE CASH FLOW
Cash From Operating Activities -$670.0K -$1.290M -$52.55K
Capital Expenditures -$290.0K $93.03K $19.08K
Free Cash Flow -$380.0K -$1.383M -$71.63K
YoY Change -64.15% 1831.46% -108.31%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2015Q1 us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt 0.05in" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt 0.05in" align="justify"><font style="FONT-SIZE: 10pt">The preparation of consolidated financial statements in conformity with accounting principles generally accepted 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 financial statements and the reported amounts of revenues and expenses during the reporting period. The more significant areas requiring use of estimates and judgment relate to the timing of revenue recognition, accounts receivable valuation reserves, ability to realize intangible assets and goodwill, ability to realize deferred income tax assets, fair value of assets and liabilities acquired in connection with a business combination, fair value of certain financial instruments and the evaluation of contingencies and litigation. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2015Q1 us-gaap Payments To Develop Software
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CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2015Q1 wyy Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Remaining Contractual Term1
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CY2015Q1 wyy Share Based Compensation Arrangement By Share Based Payment Award Option Outstanding And Exercisable Aggregate Intrinsic Value
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CY2015Q1 us-gaap Deferred Tax Liabilities Noncurrent
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0 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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582012 shares

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