FOR INFORMATION: 305.754.8676

Financials at a Glance

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Jun. 30, 2018
Current assets    
Cash and cash equivalents $ 1,877 $ 1,330
Accounts receivable, net of allowance for doubtful accounts of $265 and $233, respectively 24,467 16,026
Inventories, net 20,537 15,350
Vendor deposits 738 606
Contract assets 643 1,012
Other current assets 2,767 2,050
Total current assets 51,029 36,374
Equipment and improvements, net 3,846 2,983
Intangible assets, net 19,106 15,775
Goodwill 43,993 37,061
Other assets 3,126 3,281
Total assets 121,100 95,474
Current liabilities    
Accounts payable and accrued expenses 14,852 11,742
Accrued employee expenses 2,428 4,248
Customer deposits 12,344 11,624
Contract liabilities 913 259
Current portion of long-term debt 1,195 1,195
Total current liabilities 31,732 29,068
Deferred tax liabilities, net 573 558
Long-term debt, net 20,172 8,817
Total liabilities 52,477 38,443
Commitments and contingencies (Note 10)
Shareholders' equity    
Preferred stock, $1.00 par value; authorized shares - 200,000; none issued and outstanding
Common stock, $.025 par value; authorized shares - 20,000,000; 11,417,347 shares issued at September 30, 2018 and 11,239,656 shares issued at June 30, 2018, including shares held in treasury 287 281
Additional paid-in capital 60,740 49,950
Retained earnings 8,307 7,511
Treasury stock, 52,686 shares at September 30, 2018 and June 30, 2018, at cost (711) (711)
Total shareholders' equity 68,623 57,031
Total liabilities and shareholders' equity $ 121,100 $ 95,474

Source

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]    
Revenues $ 43,375 $ 26,273
Cost of sales 33,653 20,124
Gross profit 9,722 6,149
Selling, general and administrative expenses 8,290 5,166
Operating income 1,432 983
Interest expense, net 165 66
Income before provision for income taxes 1,267 917
Provision for income taxes 471 354
Net income $ 796 $ 563
Net earnings per share - basic $ 0.07 $ 0.05
Net earnings per share - diluted $ 0.06 $ 0.05

Source

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net income $ 796 $ 563
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 533 219
Amortization of debt discount 5 5
Provision for bad debt expense 57 9
Share-based compensation 414 357
Inventory reserve 8 56
Provision (benefit) for deferred income taxes 138 (163)
(Increase) decrease in operating assets:    
Accounts receivable (5,620) 2,785
Inventories (3,536) (1,610)
Vendor deposits (132) 519
Contract assets 369
Other assets (584) (585)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 2,550 (2,068)
Accrued employee expenses (1,836) (94)
Customer deposits 322 532
Contract liabilities 654 (1,260)
Net cash used by operating activities (5,862) (735)
Investing activities:    
Capital expenditures (647) (3)
Cash paid for acquisitions, net of cash acquired (4,294)
Net cash used by investing activities (4,941) (3)
Financing activities:    
Proceeds from borrowings 21,921 603
Debt repayments (10,571) (178)
Net cash provided by financing activities 11,350 425
Net increase (decrease) in cash and cash equivalents 547 (313)
Cash and cash equivalents at beginning of period 1,330 727
Cash and cash equivalents at end of period 1,877 414
Supplemental disclosures of cash flow information:    
Cash paid during the period for interest 138 61
Cash paid during the period for income taxes 377 24
Supplemental disclosure of non-cash financing activities    
Common stock issued for acquisitions $ 10,382

Source