- Sales in the third quarter (Q3), were $3,598,032, down 7% when compared to sales of $3,861,195, in the corresponding period a year ago. The result was a GAAP accounting net loss of $458,085, or $0.03 per basic weighted average shares for Q3, 2012, compared with a net loss of $92,293, or $0.01 per basic weighted average share, in Q3, 2011.
- Basic weighted average shares used in computing per share amounts in Q3 were 13,169,991 for 2012 and 13,169,991 for 2011. Note: a share buy back of 792,576 shares in Q1, 2011 is the reason for the reduction of shares outstanding during 2011.
- Non-GAAP operating cash flow: For the 9 months ending Sept. 30, 2012, net income reflects $1,017,770 of non-cash charges (depreciation and stock option expenses), as well as interest income ($759), gain on sale of equipment ($2,217) and net income tax expense of $851,468. These items are either non-cash items or items not related to operations or current operating activities. When these items are removed, the Company shows operating cash flow of $1,164,841, or $0.09 per weighted average share. This compares with operating cash flow of $1,673,240, or $0.13 per share, in the corresponding 9 months of 2011 (see the table that follows for details of these calculations).
|3 months ended Sept. 30|
|Net income (loss) GAAP||$ (458,085)||$ (92,293)|
|Net income (loss) per common share – basic. GAAP||$ (0.03)||$ (0.01)|
|3 month weighted average shares used in computing per share amounts – basic. GAAP||13,169,991||13,169,991|
|9 month Operating Cash Flow Ended Sept. 30|
|Operating Cash flow (9 months). NON-GAAP||$1,164,841 a||$1,673,240 b|
|Operating Cash flow per share excluding non-operating itemsand items not related to current operations (9 months) – basic. NON-GAAP||$ 0.09 a||$ 0.13 b|
|Non-cash Adjustments (9 month)||$1,017,770 c||$ 370,111 c|
|9 month basic weighted average shares used in computing per share amounts – basic GAAP||13,169,991||13,269,926|
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