2014 Q1 Form 10-Q Financial Statement
#000110465914039162 Filed on May 15, 2014
Income Statement
Concept | 2014 Q1 | 2013 Q1 |
---|---|---|
Revenue | $613.0K | $1.251M |
YoY Change | -51.0% | -96.82% |
Cost Of Revenue | $166.0K | $557.0K |
YoY Change | -70.2% | 912.73% |
Gross Profit | $447.0K | $694.0K |
YoY Change | -35.59% | -98.23% |
Gross Profit Margin | 72.92% | 55.48% |
Selling, General & Admin | $3.132M | $3.312M |
YoY Change | -5.43% | -16.78% |
% of Gross Profit | 700.67% | 477.23% |
Research & Development | $4.810M | $4.860M |
YoY Change | -1.03% | -19.67% |
% of Gross Profit | 1076.06% | 700.29% |
Depreciation & Amortization | $191.0K | $295.0K |
YoY Change | -35.25% | -22.16% |
% of Gross Profit | 42.73% | 42.51% |
Operating Expenses | $3.132M | $3.312M |
YoY Change | -5.43% | -66.95% |
Operating Profit | -$7.491M | -$6.731M |
YoY Change | 11.29% | -123.35% |
Interest Expense | $5.000K | $10.00K |
YoY Change | -50.0% | -41.18% |
% of Operating Profit | ||
Other Income/Expense, Net | $6.000K | $22.00K |
YoY Change | -72.73% | |
Pretax Income | -$7.490M | -$6.760M |
YoY Change | 10.8% | -123.44% |
Income Tax | $0.00 | |
% Of Pretax Income | ||
Net Earnings | -$8.154M | -$6.760M |
YoY Change | 20.62% | -123.44% |
Net Earnings / Revenue | -1330.18% | -540.37% |
Basic Earnings Per Share | -$0.23 | -$0.20 |
Diluted Earnings Per Share | -$0.23 | -$0.20 |
COMMON SHARES | ||
Basic Shares Outstanding | 34.81M shares | 34.35M shares |
Diluted Shares Outstanding | 34.81M shares | 34.35M shares |
Balance Sheet
Concept | 2014 Q1 | 2013 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $10.40M | $37.70M |
YoY Change | -72.41% | -42.88% |
Cash & Equivalents | $3.606M | $20.51M |
Short-Term Investments | $6.800M | $17.20M |
Other Short-Term Assets | $1.100M | $700.0K |
YoY Change | 57.14% | 0.0% |
Inventory | $3.756M | $3.624M |
Prepaid Expenses | ||
Receivables | $446.0K | $777.0K |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $16.01M | $43.75M |
YoY Change | -63.4% | -37.85% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $456.0K | $1.120M |
YoY Change | -59.29% | -44.0% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $0.00 | |
YoY Change | ||
Other Assets | $95.00K | $95.00K |
YoY Change | 0.0% | -86.43% |
Total Long-Term Assets | $1.414M | $1.809M |
YoY Change | -21.84% | -33.0% |
TOTAL ASSETS | ||
Total Short-Term Assets | $16.01M | $43.75M |
Total Long-Term Assets | $1.414M | $1.809M |
Total Assets | $17.43M | $45.56M |
YoY Change | -61.75% | -37.67% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $505.0K | $92.00K |
YoY Change | 448.91% | -54.0% |
Accrued Expenses | $2.616M | $2.679M |
YoY Change | -2.35% | -0.78% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $3.905M | $3.908M |
YoY Change | -0.08% | 18.42% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $148.0K | $134.0K |
YoY Change | 10.45% | -55.33% |
Total Long-Term Liabilities | $148.0K | $134.0K |
YoY Change | 10.45% | -55.33% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.905M | $3.908M |
Total Long-Term Liabilities | $148.0K | $134.0K |
Total Liabilities | $4.053M | $4.056M |
YoY Change | -0.07% | 12.67% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$280.7M | -$248.8M |
YoY Change | 12.82% | |
Common Stock | $349.0K | $290.3M |
YoY Change | -99.88% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $13.38M | $41.51M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $17.43M | $45.56M |
YoY Change | -61.75% | -37.67% |
Cashflow Statement
Concept | 2014 Q1 | 2013 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$8.154M | -$6.760M |
YoY Change | 20.62% | -123.44% |
Depreciation, Depletion And Amortization | $191.0K | $295.0K |
YoY Change | -35.25% | -22.16% |
Cash From Operating Activities | -$8.965M | -$8.500M |
YoY Change | 5.47% | -30.67% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $100.0K | $64.00K |
YoY Change | 56.25% | -56.76% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $4.700M | $14.51M |
YoY Change | -67.61% | 1915.28% |
Cash From Investing Activities | $4.600M | $14.44M |
YoY Change | -68.14% | 2433.33% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 300.0K | 10.00K |
YoY Change | 2900.0% | 0.0% |
NET CHANGE | ||
Cash From Operating Activities | -$8.965M | -8.500M |
Cash From Investing Activities | 4.600M | 14.44M |
Cash From Financing Activities | 300.0K | 10.00K |
Net Change In Cash | -$8.965M | 5.950M |
YoY Change | -250.67% | -150.94% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$8.965M | -$8.500M |
Capital Expenditures | $100.0K | $64.00K |
Free Cash Flow | -$9.065M | -$8.564M |
YoY Change | 5.85% | -30.98% |
Facts In Submission
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Document Type
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Entity Registrant Name
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|
METABOLIX, INC. | |
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Document Period End Date
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2014-03-31 | |
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|
5000 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
300000 | USD |
CY2014Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
-25000 | USD |
CY2013Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
-8000 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-4092000 | USD |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
5940000 | USD |
CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
14572000 | USD |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
14441000 | USD |
CY2014Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
100000 | USD |
CY2014Q1 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
1508000 | USD |
CY2014Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
6206000 | USD |
CY2014Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
4598000 | USD |
CY2014Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7480926 | shares |
CY2013Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5741056 | shares |
CY2014Q1 | us-gaap |
Investments And Cash
InvestmentsAndCash
|
10418000 | USD |
CY2014Q1 | mblx |
Period Over Which Capital Resources Are Not Sufficient To Fund Planned Operations
PeriodOverWhichCapitalResourcesAreNotSufficientToFundPlannedOperations
|
P12M | |
CY2014Q1 | us-gaap |
Long Term Investments
LongTermInvestments
|
0 | USD |
CY2013Q4 | us-gaap |
Long Term Investments
LongTermInvestments
|
0 | USD |
CY2014Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Use of Estimates</font></b></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 26pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</font></p> <p style="TEXT-INDENT: 26pt; MARGIN: 0in 0in 0pt;"> </p> </div> | |
CY2014Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Concentration of Credit Risk</font></b></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents and short-term investments. The Company primarily invests its excess cash and cash equivalents in money market funds, corporate debt, federal agency notes and U.S. treasury notes. Investments are acquired in accordance with the Company’s investment policy which establishes a concentration limit per issuer.</font></p> <p style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The Company provides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ financial condition and limits the amount of credit extended when deemed necessary. At March 31, 2014, the Company’s accounts and unbilled receivables include $284 or 41% from U.S. and Canadian government grants and $409 or 59% from customer product sales. At March 31, 2014, the Company’s REFABB grant with the Department of Energy represented 34% of total receivables.</font></p> <p style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 27pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">At December 31, 2013, the Company’s worldwide accounts and unbilled receivables include $552 or 46% from government grants and $528 or 44% from customer product sales. At December 31, 2013, the Company’s REFABB grant with the Department of Energy represented 56% of total receivables.</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> </div> | |
CY2013Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
537000 | USD |
CY2013Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
3537000 | USD |
CY2014Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
929000 | USD |
CY2014Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
2000 | USD |
CY2014Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
2825000 | USD |
CY2013Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
476000 | USD |
CY2014Q1 | us-gaap |
Deferred Revenue
DeferredRevenue
|
413000 | USD |
CY2013Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
11510000 | USD |
CY2014Q1 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
6811000 | USD |
CY2013Q4 | us-gaap |
Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
|
1000 | USD |
CY2014Q1 | us-gaap |
Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
|
1000 | USD |
CY2013Q4 | us-gaap |
Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
|
11511000 | USD |
CY2014Q1 | us-gaap |
Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
|
6812000 | USD |
CY2013 | mblx |
Available For Sale Securities Average Maturity
AvailableForSaleSecuritiesAverageMaturity
|
P2M | |
CY2014Q1 | mblx |
Available For Sale Securities Average Maturity
AvailableForSaleSecuritiesAverageMaturity
|
P2M | |
CY2013Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2595000 | USD |
CY2013Q4 | mblx |
Accrued Commercial Manufacturing Current
AccruedCommercialManufacturingCurrent
|
815000 | USD |
CY2013Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
578000 | USD |
CY2013Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
904000 | USD |
CY2014Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1573000 | USD |
CY2014Q1 | mblx |
Accrued Commercial Manufacturing Current
AccruedCommercialManufacturingCurrent
|
138000 | USD |
CY2014Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
370000 | USD |
CY2014Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
535000 | USD |
CY2014Q1 | us-gaap |
Segment Reporting Information Revenue
SegmentReportingInformationRevenue
|
1069000 | USD |
CY2013Q1 | us-gaap |
Segment Reporting Information Revenue
SegmentReportingInformationRevenue
|
1943000 | USD |
CY2014Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | item |
CY2014Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | USD |
CY2013Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | USD |
CY2014Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | USD |
CY2013Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | USD |
CY2014Q1 | mblx |
Maximum Period To Audit For Loss
MaximumPeriodToAuditForLoss
|
P3Y | |
CY2013Q4 | mblx |
Operating Loss Carryforwards Attributable To Deduction Related To Exercise Of Stock Options
OperatingLossCarryforwardsAttributableToDeductionRelatedToExerciseOfStockOptions
|
19213000 | USD |
CY2014Q1 | mblx |
Provision For Income Taxes For Undistributed Earnings Of Foreign Subsidiaries
ProvisionForIncomeTaxesForUndistributedEarningsOfForeignSubsidiaries
|
0 | USD |
CY2014Q1 | us-gaap |
Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
|
0 | USD |
CY2012Q4 | us-gaap |
Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
|
252000 | USD |
CY2013Q4 | us-gaap |
Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
|
273000 | USD |
CY2014Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2013Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2013Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
CY2014Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
CY2014Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | USD |
CY2013Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | USD |
CY2012 | us-gaap |
Deferred Revenue Revenue Recognized
DeferredRevenueRevenueRecognized
|
38885000 | USD |
CY2014Q1 | mblx |
Number Of Major Customers
NumberOfMajorCustomers
|
1 | item |
CY2013Q1 | mblx |
Number Of Major Customers
NumberOfMajorCustomers
|
0 | item |