2014 Q4 Form 10-Q Financial Statement

#000114420414068830 Filed on November 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $15.18M $14.57M $14.48M
YoY Change -0.13% 0.62% 22.82%
Cost Of Revenue $11.24M $10.82M $11.18M
YoY Change -0.88% -3.2% 22.75%
Gross Profit $3.940M $3.745M $3.298M
YoY Change 2.07% 13.56% 23.5%
Gross Profit Margin 25.96% 25.7% 22.77%
Selling, General & Admin $3.120M $2.630M $2.170M
YoY Change -4.29% 21.21% -9.59%
% of Gross Profit 79.19% 70.23% 65.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $480.0K $520.0K $470.0K
YoY Change -2.04% 10.64% 11.9%
% of Gross Profit 12.18% 13.89% 14.25%
Operating Expenses $3.120M $3.226M $2.632M
YoY Change -4.29% 22.56% 9.2%
Operating Profit $820.0K $519.0K $665.8K
YoY Change 36.67% -22.05% 156.07%
Interest Expense -$330.0K $241.2K $309.4K
YoY Change -26.67% -22.03% -218.99%
% of Operating Profit -40.24% 46.48% 46.47%
Other Income/Expense, Net -$227.6K -$263.2K
YoY Change -13.51%
Pretax Income $490.0K $291.4K $402.6K
YoY Change 226.67% -27.63% 3925.84%
Income Tax $150.0K $122.2K $162.4K
% Of Pretax Income 30.61% 41.94% 40.33%
Net Earnings $380.0K $209.5K $234.3K
YoY Change 442.86% -10.59% 2243.24%
Net Earnings / Revenue 2.5% 1.44% 1.62%
Basic Earnings Per Share $0.06 $0.07
Diluted Earnings Per Share $110.1K $0.06 $0.07
COMMON SHARES
Basic Shares Outstanding 3.301M shares 3.301M shares 3.249M shares
Diluted Shares Outstanding 3.450M shares 3.401M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.0K $170.0K $330.0K
YoY Change -77.61% -48.48% -8.33%
Cash & Equivalents $150.3K $171.8K $332.5K
Short-Term Investments
Other Short-Term Assets $578.9K $706.5K $2.870M
YoY Change -38.8% -75.38% 2.87%
Inventory $17.76M $18.40M $15.27M
Prepaid Expenses $1.984M $1.181M
Receivables $11.29M $11.11M $9.420M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $32.47M $32.41M $27.89M
YoY Change 15.28% 16.21% 9.24%
LONG-TERM ASSETS
Property, Plant & Equipment $7.756M $8.012M $8.580M
YoY Change -10.67% -6.62% 0.94%
Goodwill $1.473M $1.473M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $173.8K $162.8K $890.0K
YoY Change -24.64% -81.71% 56.14%
Total Long-Term Assets $10.57M $10.65M $10.53M
YoY Change -3.01% 1.18% 4.15%
TOTAL ASSETS
Total Short-Term Assets $32.47M $32.41M $27.89M
Total Long-Term Assets $10.57M $10.65M $10.53M
Total Assets $43.05M $43.06M $38.42M
YoY Change 10.17% 12.09% 7.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.469M $5.579M $5.000M
YoY Change 25.07% 11.58% 9.65%
Accrued Expenses $2.493M $2.474M $2.710M
YoY Change -16.99% -8.72% 17.83%
Deferred Revenue
YoY Change
Short-Term Debt $12.16M $11.65M $7.930M
YoY Change 38.65% 46.91% 46.58%
Long-Term Debt Due $376.0K $370.0K $380.0K
YoY Change -1.57% -2.63% -74.32%
Total Short-Term Liabilities $20.93M $21.13M $16.18M
YoY Change 27.36% 30.57% 11.05%
LONG-TERM LIABILITIES
Long-Term Debt $8.785M $8.841M $8.970M
YoY Change -3.01% -1.43% 10.47%
Other Long-Term Liabilities $530.0K $540.0K $680.0K
YoY Change -35.37% -20.59% 0.0%
Total Long-Term Liabilities $9.310M $9.386M $9.650M
YoY Change -5.71% -2.73% 9.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.93M $21.13M $16.18M
Total Long-Term Liabilities $9.310M $9.386M $9.650M
Total Liabilities $30.24M $30.51M $25.66M
YoY Change 14.95% 18.91% 10.27%
SHAREHOLDERS EQUITY
Retained Earnings $623.5K $241.6K
YoY Change 471.26%
Common Stock $15.32M $15.30M
YoY Change 2.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $160.8K $160.8K
YoY Change 13.8%
Treasury Stock Shares 75.63K shares 75.63K shares 72.13K shares
Shareholders Equity $12.88M $12.58M $12.76M
YoY Change
Total Liabilities & Shareholders Equity $43.05M $43.06M $38.42M
YoY Change 10.17% 12.09% 7.8%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $380.0K $209.5K $234.3K
YoY Change 442.86% -10.59% 2243.24%
Depreciation, Depletion And Amortization $480.0K $520.0K $470.0K
YoY Change -2.04% 10.64% 11.9%
Cash From Operating Activities -$510.0K -$2.860M -$1.270M
YoY Change 142.86% 125.2% -56.06%
INVESTING ACTIVITIES
Capital Expenditures -$330.0K -$220.0K -$520.0K
YoY Change -43.1% -57.69% 126.09%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$330.0K -$220.0K -$520.0K
YoY Change -29.79% -57.69% 126.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 790.0K 2.980M 1.670M
YoY Change -21.78% 78.44% -48.14%
NET CHANGE
Cash From Operating Activities -510.0K -2.860M -1.270M
Cash From Investing Activities -330.0K -220.0K -520.0K
Cash From Financing Activities 790.0K 2.980M 1.670M
Net Change In Cash -50.00K -100.0K -120.0K
YoY Change -115.15% -16.67% -220.0%
FREE CASH FLOW
Cash From Operating Activities -$510.0K -$2.860M -$1.270M
Capital Expenditures -$330.0K -$220.0K -$520.0K
Free Cash Flow -$180.0K -$2.640M -$750.0K
YoY Change -148.65% 252.0% -71.8%

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us-gaap Repayments Of Long Term Debt
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us-gaap Payments Of Financing Costs
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Income Taxes Paid
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us-gaap Repayments Of Related Party Debt
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us-gaap Repayments Of Related Party Debt
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CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
CTI INDUSTRIES CORP
dei Entity Central Index Key
EntityCentralIndexKey
0001042187
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
CTIB
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3301116 shares

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