2016 Q4 Form 10-Q Financial Statement

#000114420416133922 Filed on November 14, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q4
Revenue $21.44M $13.48M $15.89M
YoY Change 34.93% -9.44% 4.68%
Cost Of Revenue $15.49M $10.06M $11.15M
YoY Change 38.92% -6.6% -0.8%
Gross Profit $5.950M $3.412M $4.740M
YoY Change 25.53% -16.89% 20.3%
Gross Profit Margin 27.75% 25.32% 29.83%
Selling, General & Admin $4.040M $2.786M $3.800M
YoY Change 6.32% 3.07% 21.79%
% of Gross Profit 67.9% 81.66% 80.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0K $370.0K $400.0K
YoY Change -32.5% -15.91% -16.67%
% of Gross Profit 4.54% 10.84% 8.44%
Operating Expenses $4.040M $3.340M $3.800M
YoY Change 6.32% -1.56% 21.79%
Operating Profit $1.910M $72.42K $940.0K
YoY Change 103.19% -89.84% 14.63%
Interest Expense -$340.0K $358.6K -$520.0K
YoY Change -34.62% 2.19% 57.58%
% of Operating Profit -17.8% 495.22% -55.32%
Other Income/Expense, Net -$301.4K
YoY Change 0.1%
Pretax Income $1.580M -$228.9K $410.0K
YoY Change 285.37% -155.6% -16.33%
Income Tax $720.0K -$28.66K -$20.00K
% Of Pretax Income 45.57% -4.88%
Net Earnings $910.0K -$180.5K $500.0K
YoY Change 82.0% -186.25% 31.58%
Net Earnings / Revenue 4.24% -1.34% 3.15%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share $212.1K -$0.05 $147.1K
COMMON SHARES
Basic Shares Outstanding 3.524M shares 3.542M shares
Diluted Shares Outstanding 3.714M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $560.0K $620.0K $350.0K
YoY Change 60.0% 129.63% 133.33%
Cash & Equivalents $563.0K $623.9K $346.4K
Short-Term Investments
Other Short-Term Assets $530.7K $2.550M $991.3K
YoY Change -46.47% -7.61% 71.24%
Inventory $18.35M $22.94M $17.87M
Prepaid Expenses $678.7K $1.057M
Receivables $14.84M $10.18M $11.41M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.96M $36.30M $32.44M
YoY Change 7.78% 17.63% -0.11%
LONG-TERM ASSETS
Property, Plant & Equipment $5.311M $5.520M $6.554M
YoY Change -18.95% -17.73% -15.5%
Goodwill $1.473M $1.473M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $473.1K $1.660M $242.3K
YoY Change 95.28% 13.7% 39.37%
Total Long-Term Assets $8.954M $8.700M $9.368M
YoY Change -4.41% -10.31% -11.4%
TOTAL ASSETS
Total Short-Term Assets $34.96M $36.30M $32.44M
Total Long-Term Assets $8.954M $8.700M $9.368M
Total Assets $43.91M $45.00M $41.80M
YoY Change 5.04% 10.95% -2.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.862M $7.420M $4.272M
YoY Change 37.22% 44.92% -4.41%
Accrued Expenses $3.127M $2.970M $2.942M
YoY Change 6.29% 20.73% 18.01%
Deferred Revenue
YoY Change
Short-Term Debt $11.26M $10.36M $10.95M
YoY Change 2.83% 1.07% -9.95%
Long-Term Debt Due $1.938M $2.700M $551.0K
YoY Change 251.72% 357.63% 46.54%
Total Short-Term Liabilities $23.88M $24.97M $20.20M
YoY Change 18.21% 28.91% -3.48%
LONG-TERM LIABILITIES
Long-Term Debt $7.239M $6.990M $8.301M
YoY Change -12.8% -16.19% -5.51%
Other Long-Term Liabilities $1.120M $1.240M $710.0K
YoY Change 57.75% 138.46% 33.96%
Total Long-Term Liabilities $8.057M $8.230M $9.015M
YoY Change -10.63% -7.11% -3.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.88M $24.97M $20.20M
Total Long-Term Liabilities $8.057M $8.230M $9.015M
Total Liabilities $31.94M $32.52M $29.22M
YoY Change 9.31% 14.91% -3.38%
SHAREHOLDERS EQUITY
Retained Earnings $2.323M $1.671M
YoY Change 39.06% 167.99%
Common Stock $16.15M $15.35M
YoY Change 5.18% 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $160.8K $160.8K
YoY Change 0.0% 0.0%
Treasury Stock Shares 75.63K shares 75.63K shares
Shareholders Equity $12.72M $12.48M $12.79M
YoY Change
Total Liabilities & Shareholders Equity $43.91M $45.00M $41.80M
YoY Change 5.04% 10.94% -2.89%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q4
OPERATING ACTIVITIES
Net Income $910.0K -$180.5K $500.0K
YoY Change 82.0% -186.25% 31.58%
Depreciation, Depletion And Amortization $270.0K $370.0K $400.0K
YoY Change -32.5% -15.91% -16.67%
Cash From Operating Activities -$200.0K $130.0K -$790.0K
YoY Change -74.68% -244.44% 54.9%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$130.0K -$210.0K
YoY Change -66.67% -53.57% -36.36%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$40.00K
YoY Change
Cash From Investing Activities -$70.00K -$170.0K -$210.0K
YoY Change -66.67% -39.29% -36.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 240.0K 210.0K 1.090M
YoY Change -77.98% -52.27% 37.97%
NET CHANGE
Cash From Operating Activities -200.0K 130.0K -790.0K
Cash From Investing Activities -70.00K -170.0K -210.0K
Cash From Financing Activities 240.0K 210.0K 1.090M
Net Change In Cash -30.00K 170.0K 90.00K
YoY Change -133.33% 142.86% -280.0%
FREE CASH FLOW
Cash From Operating Activities -$200.0K $130.0K -$790.0K
Capital Expenditures -$70.00K -$130.0K -$210.0K
Free Cash Flow -$130.0K $260.0K -$580.0K
YoY Change -77.59% 36.84% 222.22%

Facts In Submission

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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2015Q3 ctib Shares To Be Issued Upon Exercise Of Options And Warrant
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2016-09-30
dei Document Fiscal Year Focus
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2016
dei Document Fiscal Period Focus
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Q3
dei Entity Registrant Name
EntityRegistrantName
CTI INDUSTRIES CORP
dei Entity Central Index Key
EntityCentralIndexKey
0001042187
dei Current Fiscal Year End Date
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--12-31
dei Entity Filer Category
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Smaller Reporting Company
dei Trading Symbol
TradingSymbol
CTIB
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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" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Use of estimates:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In preparing condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period in the condensed consolidated financial statements and accompanying notes. Actual results may differ from those estimates. The Company&#8217;s significant estimates include reserves for doubtful accounts, reserves for the lower of cost or market of inventory, reserves for deferred tax assets and recovery value of goodwill.</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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CY2016Q3 us-gaap Liabilities Fair Value Disclosure
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714000 USD
ctib Payment For Redemption Of Variable Interest Entity
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ctib Payment For Redemption Of Variable Interest Entity
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0 USD
us-gaap Proceeds From Minority Shareholders
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us-gaap Proceeds From Minority Shareholders
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2016Q3 us-gaap Gain Loss On Sale Of Trust Assets To Pay Expenses
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27700 USD
CY2015Q3 us-gaap Gain Loss On Sale Of Trust Assets To Pay Expenses
GainLossOnSaleOfTrustAssetsToPayExpenses
0 USD
us-gaap Gain Loss On Sale Of Trust Assets To Pay Expenses
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27700 USD
us-gaap Gain Loss On Sale Of Trust Assets To Pay Expenses
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CY2016Q3 us-gaap Stock Issued During Period Shares New Issues
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CY2016Q3 us-gaap Shares Issued Price Per Share
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us-gaap Proceeds From Issuance Of Common Stock
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0 USD
ctib Amortization Of Deferred Gain On Saleor Leaseback
AmortizationOfDeferredGainOnSaleorLeaseback
-27700 USD
ctib Amortization Of Deferred Gain On Saleor Leaseback
AmortizationOfDeferredGainOnSaleorLeaseback
0 USD

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