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Financial Statements

  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update)
Cash & Equivalents 24.99 38.51
Short Term Investments 0.25 0.25
Cash and Short Term Investments 25.25 38.76
Accounts Receivable - Trade, Gross 26.80 34.65
Provision for Doubtful Accounts -0.89 -1.02
Accounts Receivable - Trade, Net 25.91 33.63
Total Receivables, Net 25.91 33.63
Prepaid Expenses 1.81 0.90
Restricted Cash - Current 0.00 0.00
Deferred Income Tax - Current Asset 0.00 4.67
Other Current Assets, Total 0.00 4.67
Total Current Assets 52.96 77.97
Buildings - Gross 1.54 1.14
Machinery/Equipment - Gross 16.84 17.39
Other Property/Plant/Equipment - Gross 1.70 1.33
Property/Plant/Equipment, Total - Gross 20.08 19.86
Accumulated Depreciation, Total -15.77 -15.43
Property/Plant/Equipment, Total - Net 4.31 4.43
Goodwill, Net 5.13 42.82
Intangibles - Gross 50.12 42.82
Accumulated Intangible Amortization -21.00 -19.04
Intangibles, Net 29.11 23.78
LT Investment - Affiliate Companies 0.69 14.80
LT Investments - Other 0.10 0.68
Long Term Investments 0.79 15.48
Deferred Income Tax - Long Term Asset 0.00 0.00
Other Long Term Assets 0.60 0.80
Other Long Term Assets, Total 0.60 0.80
Total Assets 92.91 165.28
Accounts Payable 7.52 10.23
Accrued Expenses 8.72 11.81
Notes Payable/Short Term Debt 0.00 0.00
Current Portion of Long Term Debt/Capital Leases 0.00 6.56
Customer Advances 0.00 0.00
Income Taxes Payable 0.00 0.00
Other Current Liabilities 0.51 0.57
Other Current liabilities, Total 0.51 0.57
Total Current Liabilities 16.75 29.17
Long Term Debt 9.00 16.50
Total Long Term Debt 9.00 16.50
Total Debt 9.00 23.06
Other Long Term Liabilities 0.00 0.00
Other Liabilities, Total 0.00 0.00
Total Liabilities 25.75 45.67
Preferred Stock - Non Redeemable 0.00 0.00
Preferred Stock - Non Redeemable, Net 0.00 0.00
Common Stock 0.01 0.01
Common Stock, Total 0.01 0.01
Additional Paid-In Capital 356.05 350.02
Retained Earnings (Accumulated Deficit) -288.90 -230.42
Other Comprehensive Income 0.00 0.00
Other Equity, Total 0.00 0.00
Total Equity 67.17 119.61
Total Liabilities & Shareholders' Equity 92.91 165.28
Shares Outstanding – Common Stock Primary Issue 13.06 11.01
Total Common Shares Outstanding 13.06 11.01
Treasury Shares – Common Primary Issue 0.00 0.00
Shares Outstanding - Preferred Issue 1 0.00 0.00
Total Preferred Shares Outstanding 0.00 0.00
Employees 228.00 254.00
Number of Common Shareholders 228.00 220.00
Accumulated Intangible Amortization 21.00 19.04
Deferred Revenue - Current 0.00 0.00
Total Current Assets less Inventory 52.96 77.97
Quick Ratio 3.16 2.67
Current Ratio 3.16 2.67
Net Debt -16.25 -15.70
Tangible Book Value 32.92 53.01
Tangible Book Value per Share 2.52 4.81
Total Long Term Debt, Supplemental 9.00 23.06
Long Term Debt Maturing within 1 Year 0.00 6.56
Long Term Debt Maturing in Year 2 0.50 7.50
Long Term Debt Maturing in Year 3 0.50 7.50
Long Term Debt Maturing in Year 4 4.00 0.75
Long Term Debt Maturing in Year 5 4.00 0.75
Long Term Debt Maturing in 2-3 Years 1.00 15.00
Long Term Debt Maturing in 4-5 Years 8.00 1.50
Long Term Debt Maturing in Year 6 & Beyond 0.00 0.00
Total Operating Leases 5.47 5.41
Operating Lease Payments Due in Year 1 1.53 1.77
Operating Lease Payments Due in Year 2 1.39 1.00
Operating Lease Payments Due in Year 3 0.96 0.67
Operating Lease Payments Due in Year 4 0.46 0.52
Operating Lease Payments Due in Year 5 0.46 0.45
Operating Lease Payments Due in 2-3 Years 2.35 1.67
Operating Lease Payments Due in 4-5 Years 0.92 0.96
Standardized Operating Lease Payments Due in Year 6 and Beyond 0.67 1.02
  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Sales 142.13 156.68 133.23
Revenue 142.13 156.68 133.23
Total Revenue 142.13 156.68 133.23
Cost of Revenue 99.35 98.77 81.59
Cost of Revenue, Total 99.35 98.77 81.59
Gross Profit 42.77 57.91 51.64
Selling/General/Administrative Expense 22.98 29.02 27.25
Labor & Related Expense 3.44 3.76 1.90
Selling/General/Administrative Expenses, Total 26.43 32.78 29.15
Research & Development 12.57 13.99 11.74
Depreciation 4.78 5.07 3.11
Amortization of Intangibles, Operating
Depreciation/Amortization 4.78 5.07 3.11
Litigation -0.11 -0.05 -0.11
Impairment-Assets Held for Use 37.69
Other Unusual Expense (Income)
Unusual Expense (Income) 37.58 -0.05 -0.11
Total Operating Expense 180.70 150.56 125.47
Operating Income -38.58 6.13 7.76
Interest Expense - Non-Operating -0.80 -0.90 -0.80
Interest Expense, Net Non-Operating -0.80 -0.90 -0.80
Interest Income, Non-Operating
Investment Income, Non-Operating 0.60
Interest/Investment Income, Non-Operating 0.60
Interest Income (Expense), Net Non-Operating -0.15 0.06 0.52
Interest Income (Expense), Net-Non-Operating, Total -0.95 -0.84 0.32
Gain (Loss) on Sale of Assets 1.40
Net Income Before Taxes -39.53 6.69 8.08
Income Tax – Total 13.75 2.82 3.43
Income After Tax -53.27 3.87 4.65
Net Income Before Extraordinary Items -53.27 3.87 4.65
Discontinued Operations
Extraordinary Item -11.69
Total Extraordinary Items -11.69
Net Income -64.96 3.87 4.65
Income Available to Common Excluding Extraordinary Items -53.27 3.87 4.65
Income Available to Common Stocks Including Extraordinary Items -64.96 3.87 4.65
Basic Weighted Average Shares 11.85 10.67 9.91
Basic EPS Excluding Extraordinary Items -4.49 0.36 0.47
Basic EPS Including Extraordinary Items -5.48 0.36 0.47
Dilution Adjustment
Diluted Net Income -64.96 3.87 4.65
Diluted Weighted Average Shares 11.85 13.30 12.66
Diluted EPS Excluding Extraordinary Items -4.49 0.29 0.37
Diluted EPS Including Extraordinary Items -5.48 0.29 0.37
DPS - Common Stock Primary Issue --
Gross Dividends - Common Stock -- -- --
Impairment-Assets Held for Use, Supplemental
Other Unusual Expense (Income), Supplemental
Non-Recurring Items, Total
Total Special Items 37.58 -1.45 -0.11
Normalized Income Before Taxes -1.95 5.24 7.97
Effect of Special Items on Income Taxes 13.15 -0.61 -0.05
Income Taxes Excluding Impact of Special Items 26.90 2.20 3.39
Normalized Income After Taxes -28.84 3.03 4.58
Normalized Income Available to Common -28.84 3.03 4.58
Basic Normalized EPS -2.43 0.28 0.46
Diluted Normalized EPS -2.43 0.23 0.36
Amortization of Intangibles, Supplemental
Depreciation, Supplemental 7.65 7.30 4.02
Interest Expense, Supplemental 0.80 0.90 0.80
Rental Expense, Supplemental 2.00 2.00 1.20
Stock-Based Compensation, Supplemental 4.11 4.41 2.56
Advertising Expense, Supplemental
Research & Development Expense, Supplemental 12.57 13.99 11.74
Audit-Related Fees, Supplemental 0.61 0.52 0.44
Audit-Related Fees 0.01 0.01 0.23
Tax Fees, Supplemental -- 0.01 --
All Other Fees Paid to Auditor, Supplemental
Gross Margin 30.10 36.96 38.76
Operating Margin -27.14 3.91 5.82
Pretax Margin -27.81 4.27 6.06
Effective Tax Rate 42.10 42.49
Net Profit Margin -37.48 2.47 3.49
Normalized EBIT -1.00 6.08 7.65
Normalized EBITDA 6.65 13.38 11.67
Current Tax - Domestic -- 0.24 0.21
Current Tax - Foreign 0.14 0.07
Current Tax - Local 0.04 0.51 0.23
Current Tax - Total 0.18 0.82 0.44
Deferred Tax - Domestic -2.92 1.73 3.00
Deferred Tax - Foreign -- --
Deferred Tax - Local -0.18 1.04 0.59
Deferred Tax - Total -3.09 2.77 3.58
Other Tax 16.66 -0.77 -0.59
Income Tax - Total 13.75 2.82 3.43
Defined Contribution Expense - Domestic 0.30 0.40 0.40
Total Pension Expense 0.30 0.40 0.40
  Year Ending Dec 2017 (Update) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Income/Starting Line -64.96 3.87 4.65
Depreciation – Supplemental 7.65 7.30 4.02
Depreciation/Depletion 7.65 7.30 4.02
Deferred Taxes 25.26 1.99 3.00
Unusual Items 38.28 -1.29 -0.64
Other Non-Cash Items 4.70 5.35 3.74
Non-Cash Items 42.97 4.06 3.10
Accounts Receivable 7.13 -3.23 -0.38
Prepaid Expenses -0.90 -0.40 -0.12
Other Assets 0.20 0.95 0.15
Accounts Payable -2.68 2.12 -0.59
Accrued Expenses -3.18 1.58 -1.35
Other Liabilities -- -- -0.27
Changes in Working Capital 0.56 1.02 -2.57
Cash from Operating Activities 11.49 18.24 12.20
Purchase of Fixed Assets -1.80 -2.15 -2.72
Purchase/Acquisition of Intangibles -8.60 --
Capital Expenditures -10.40 -2.15 -2.72
Acquisition of Business -- -- -25.01
Sale of Business
Sale/Maturity of Investment
Investment, Net -- -0.38 -0.38
Purchase of Investments -0.00 -0.25
Other Investing Cash Flow Items, Total -0.00 -0.63 -25.39
Cash from Investing Activities -10.40 -2.77 -28.11
Other Financing Cash Flow -- -0.06 -0.04
Financing Cash Flow Items -- -0.06 -0.04
Repurchase/Retirement of Common -1.90 -- --
Common Stock, Net -1.90 -- --
Sale/Issuance of Preferred -- 2.13
Preferred Stock, Net -- 2.13
Options Exercised 1.36 3.05 1.20
Warrants Converted -- -- 1.86
Issuance (Retirement) of Stock, Net -0.54 3.05 5.19
Long Term Debt Issued -- -- 17.75
Long Term Debt Reduction -14.06 -3.94 -3.75
Long Term Debt, Net -14.06 -3.94 14.00
Issuance (Retirement) of Debt, Net -14.06 -3.94 14.00
Cash from Financing Activities -14.61 -0.95 19.15
Net Change in Cash -13.52 14.52 3.25
Net Cash - Beginning Balance 38.51 23.99 20.75
Net Cash - Ending Balance 24.99 38.51 23.99
Cash Interest Paid 0.95 0.72 0.88
Cash Taxes Paid 0.65 0.76 0.55