SUTRON CORP

CIK:0000728331|SEC Filings

4. Earnings Per Share

3 Months Ended

Mar. 31, 2015

4. Earnings Per Share

The following table shows the weighted average number of shares used in computing earnings (loss) per share and the effect on weighted average number of shares of potential dilutive common stock.

	Three Months Ended March 31,
	2015			2014

Net (loss)	$	(735,076	)	$	(540,218	)
Shares used in calculation of income per share:
Basic		5,084,134			5,066,009
Effect of dilutive options		-			-
Diluted		5,084,134			5,066,009
Net (loss) per share:
Basic	$	(0.14	)	$	(0.11	)
Diluted	$	(0.14	)	$	(0.11	)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net (loss) income	$ (735,076)us-gaap_NetIncomeLoss	$ (540,218)us-gaap_NetIncomeLoss
Noncash items included in net income:
Depreciation	135,630us-gaap_Depreciation	113,562us-gaap_Depreciation
Amortization of intangibles	46,257us-gaap_AmortizationOfIntangibleAssets	46,257us-gaap_AmortizationOfIntangibleAssets
Deferred income taxes	(426,768)us-gaap_DeferredIncomeTaxExpenseBenefit	(373,877)us-gaap_DeferredIncomeTaxExpenseBenefit
Stock based compensation	38,052us-gaap_ShareBasedCompensation	22,998us-gaap_ShareBasedCompensation
Change in current assets and liabilities, net of the impact of acquisitions:
Accounts receivable	(171,993)	396,082
Costs in excess of billings	53,803	(195,569)
Inventory	(250,130)us-gaap_IncreaseDecreaseInInventories	(400,189)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other assets	(341,140)	(239,007)
Income tax receivable	(69,626)	29,031
Accounts payable	(323,379)	192,051
Accrued expenses	100,546	1,124,649
Deferred revenues	(356,329)	103,544
Billings in excess of costs and estimated earnings	32,589	(134,917)
Deferred rent	(34,817)	(31,040)
Net Cash (Used) Provided by Operating Activities	(2,302,381)	113,357
Cash Flows from Investing Activities:
Restricted cash and cash equivalents	42,016	(25,541)
Purchase of property and equipment	(70,659)	(47,537)
Other assets	17,070us-gaap_ProceedsFromSaleOfOtherAssets1	1,458us-gaap_ProceedsFromSaleOfOtherAssets1
Net Cash Used by Investing Activities	(11,573)	(71,620)
Effect of exchange rate changes on cash and cash equivalents	(14,009)	(28,032)
Net (decrease) increase in cash and cash equivalents	(2,327,963)	13,705
Cash and Cash Equivalents, beginning of period	7,873,903	8,283,092
Cash and Cash Equivalents, end of period	$ 5,545,940	$ 8,296,797

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 5,545,940	$ 7,873,903
Restricted cash and cash equivalents	767,493	809,509
Accounts receivable, net	4,865,253us-gaap_AccountsReceivableNetCurrent	4,693,260us-gaap_AccountsReceivableNetCurrent
Costs in excess of billings	1,446,800	1,500,603
Inventory, net	4,997,806us-gaap_InventoryNet	4,747,676us-gaap_InventoryNet
Prepaid items and other assets	634,708	293,568
Income taxes receivable	243,163us-gaap_IncomeTaxesReceivable	173,537us-gaap_IncomeTaxesReceivable
Deferred income taxes	1,450,643us-gaap_DeferredTaxAssetsNetCurrent	1,046,593us-gaap_DeferredTaxAssetsNetCurrent
Total Current Assets	19,951,806us-gaap_AssetsCurrent	21,138,649us-gaap_AssetsCurrent
Property and Equipment, Net	1,870,789us-gaap_PropertyPlantAndEquipmentNet	1,935,760us-gaap_PropertyPlantAndEquipmentNet
Other Assets
Goodwill	4,452,152us-gaap_Goodwill	4,452,152us-gaap_Goodwill
Intangibles, net of amortization	676,209	722,466
Other Assets	85,444us-gaap_OtherAssetsNoncurrent	102,514us-gaap_OtherAssetsNoncurrent
Total Assets	27,036,400us-gaap_Assets	28,351,541us-gaap_Assets
Current Liabilities:
Accounts payable	721,791us-gaap_AccountsPayableCurrent	1,045,170us-gaap_AccountsPayableCurrent
Accrued payroll	1,042,594us-gaap_AccruedSalariesCurrent	886,367us-gaap_AccruedSalariesCurrent
Deferred revenue	929,792us-gaap_DeferredRevenueCurrent	1,286,121us-gaap_DeferredRevenueCurrent
Deferred rent	151,584us-gaap_DeferredRentCreditCurrent	149,011us-gaap_DeferredRentCreditCurrent
Other accrued expenses	688,665us-gaap_OtherAccruedLiabilitiesCurrent	744,346us-gaap_OtherAccruedLiabilitiesCurrent
Billings in excess of costs and estimated earnings	157,831us-gaap_BillingsInExcessOfCostCurrent	125,242us-gaap_BillingsInExcessOfCostCurrent
Total Current Liabilities	3,692,257us-gaap_LiabilitiesCurrent	4,236,257us-gaap_LiabilitiesCurrent
Deferred rent	571,178us-gaap_DeferredRentCreditNoncurrent	608,568us-gaap_DeferredRentCreditNoncurrent
Deferred income taxes	8,153us-gaap_DeferredTaxAssetsNetNoncurrent	30,871us-gaap_DeferredTaxAssetsNetNoncurrent
Total Liabilities	4,271,588us-gaap_Liabilities	4,875,696us-gaap_Liabilities
Stockholders’ Equity
Common stock, 12,000,000 shares authorized; 5,084,134 issued and outstanding at March 31, 2015 and December 31, 2014	50,842us-gaap_CommonStockValue	50,842us-gaap_CommonStockValue
Additional paid-in capital	5,503,775	5,465,723
Retained earnings	17,619,088	18,354,164
Accumulated other comprehensive loss	(408,893)	(394,884)
Total Stockholders’ Equity	22,764,812us-gaap_StockholdersEquity	23,475,845us-gaap_StockholdersEquity
Total Liabilities and Stockholders’ Equity	$ 27,036,400	$ 28,351,541