$WYY
WIDEPOINT CORP

2015 Q3 Form 10-Q Financial Statement

#000114420415063873 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $16.99M $14.56M
YoY Change 16.76% 19.09%
Cost Of Revenue $13.88M $10.57M
YoY Change 31.32% 14.39%
Gross Profit $3.119M $3.984M
YoY Change -21.71% 33.75%
Gross Profit Margin 18.35% 27.37%
Selling, General & Admin $4.658M $4.684M
YoY Change -0.56% 58.32%
% of Gross Profit 149.33% 117.57%
Research & Development $268.9K
YoY Change
% of Gross Profit 8.62%
Depreciation & Amortization $92.97K $180.0K
YoY Change -48.34% 142.75%
% of Gross Profit 2.98% 4.52%
Operating Expenses $4.751M $4.864M
YoY Change -2.32% 60.38%
Operating Profit -$1.632M -$879.8K
YoY Change 85.46% 1531.02%
Interest Expense $30.87K $47.02K
YoY Change -34.35% 205.05%
% of Operating Profit
Other Income/Expense, Net -$61.66K -$45.89K
YoY Change 34.37% 578.83%
Pretax Income -$1.693M -$925.7K
YoY Change 82.93% 1424.99%
Income Tax $69.84K $4.976M
% Of Pretax Income
Net Earnings -$1.763M -$5.902M
YoY Change -70.12% -2101.79%
Net Earnings / Revenue -10.38% -40.55%
Basic Earnings Per Share -$0.02 -$0.08
Diluted Earnings Per Share -$0.02 -$0.08
COMMON SHARES
Basic Shares Outstanding 82.52M shares 73.20M shares
Diluted Shares Outstanding 73.20M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.44M $3.080M
YoY Change 238.96% 27.8%
Cash & Equivalents $10.44M $3.079M
Short-Term Investments
Other Short-Term Assets $420.0K $410.0K
YoY Change 2.44% -49.38%
Inventory $30.00K $39.08K
Prepaid Expenses
Receivables $16.06M $8.859M
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.95M $15.81M
YoY Change 70.47% 35.92%
LONG-TERM ASSETS
Property, Plant & Equipment $1.540M $1.711M
YoY Change -9.98% 19.76%
Goodwill $20.84M
YoY Change 25.4%
Intangibles $3.729M
YoY Change
Long-Term Investments
YoY Change
Other Assets $136.6K $123.0K
YoY Change 11.06% 73.1%
Total Long-Term Assets $25.63M $27.10M
YoY Change -5.43% 4.19%
TOTAL ASSETS
Total Short-Term Assets $26.95M $15.81M
Total Long-Term Assets $25.63M $27.10M
Total Assets $52.58M $42.91M
YoY Change 22.53% 14.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.449M $6.072M
YoY Change 6.2% 12.17%
Accrued Expenses $6.491M $3.912M
YoY Change 65.94% 21.84%
Deferred Revenue
YoY Change
Short-Term Debt $2.060M $440.0K
YoY Change 368.18% 1366.67%
Long-Term Debt Due $879.2K $2.220M
YoY Change -60.4% 1015.39%
Total Short-Term Liabilities $17.98M $14.21M
YoY Change 26.5% 53.95%
LONG-TERM LIABILITIES
Long-Term Debt $663.3K $1.630M
YoY Change -59.31% -55.45%
Other Long-Term Liabilities $200.0K $220.0K
YoY Change -9.09% 144.44%
Total Long-Term Liabilities $663.3K $1.850M
YoY Change -64.15% -49.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.98M $14.21M
Total Long-Term Liabilities $663.3K $1.850M
Total Liabilities $19.29M $16.06M
YoY Change 20.14% 22.74%
SHAREHOLDERS EQUITY
Retained Earnings -$60.15M
YoY Change
Common Stock $82.52K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.28M $26.85M
YoY Change
Total Liabilities & Shareholders Equity $52.58M $42.91M
YoY Change 22.53% 14.0%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$1.763M -$5.902M
YoY Change -70.12% -2101.79%
Depreciation, Depletion And Amortization $92.97K $180.0K
YoY Change -48.34% 142.75%
Cash From Operating Activities -$870.0K -$1.340M
YoY Change -35.07% -518.75%
INVESTING ACTIVITIES
Capital Expenditures -$120.0K -$40.00K
YoY Change 200.0% -20.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$30.00K
YoY Change -100.0%
Cash From Investing Activities -$120.0K -$70.00K
YoY Change 71.43% 40.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.690M 420.0K
YoY Change 302.38% -216.67%
NET CHANGE
Cash From Operating Activities -870.0K -1.340M
Cash From Investing Activities -120.0K -70.00K
Cash From Financing Activities 1.690M 420.0K
Net Change In Cash 700.0K -990.0K
YoY Change -170.71% 1000.0%
FREE CASH FLOW
Cash From Operating Activities -$870.0K -$1.340M
Capital Expenditures -$120.0K -$40.00K
Free Cash Flow -$750.0K -$1.300M
YoY Change -42.31% -451.35%

Facts In Submission

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3079485 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2015Q3 us-gaap Allowance For Doubtful Accounts Receivable
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CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2014Q3 us-gaap Depreciation
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CY2015Q3 us-gaap Cost Of Services Amortization
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CY2015Q3 us-gaap Deferred Tax Assets Valuation Allowance
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CY2015Q3 us-gaap Common Stock Shares Authorized
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CY2015Q3 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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350267 USD
wyy Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding And Exercisable Weighted Average Remaining Contractual Term1
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283099 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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73195464 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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0 shares
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0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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82130665 shares
CY2015Q3 us-gaap Deferred Tax Assets Net Noncurrent
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14272 USD
CY2014Q4 us-gaap Deferred Tax Assets Net Noncurrent
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CY2014Q4 us-gaap Preferred Stock Shares Authorized
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CY2015Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2015Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
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290011 USD
CY2014Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
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309276 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
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873724 USD
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976116 USD
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
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CY2014Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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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"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <i>Use of Estimates</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">&#160;</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">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.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q3 us-gaap Depreciation
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110200 USD
CY2015Q3 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
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4300 USD
CY2014Q3 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
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3800 USD
CY2014Q3 us-gaap Business Acquisitions Pro Forma Revenue
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14556000 USD
us-gaap Business Acquisitions Pro Forma Revenue
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38487000 USD
CY2014Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
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-5901000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-7627000 USD
CY2014Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-0.081
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-0.107
CY2014Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-0.081
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-0.107
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1857668 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3114001 shares
us-gaap Notes Issued1
NotesIssued1
58118 USD
us-gaap Notes Issued1
NotesIssued1
0 USD

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