PHAZAR CORP (ANTP, Financial) filed Quarterly Report for the period ended 2010-09-30.
Phazar Corp has a market cap of $13.1 million; its shares were traded at around $5.5 with and P/S ratio of 1.7. ANTP is in the portfolios of Jim Simons of Renaissance Technologies LLC.
2010 2010 2010
(Unaudited) (Unaudited) (Audited)
- - -
CURRENT ASSETS
Cash and cash equivalents $ 1,288,555 $ 1,403,839 $ 2,030,774
Account receivable:
Trade,net of allowance for doubtful
accounts of $0 as of September 30, 2010, 1,386,657 1,207,057 748,671
June 30, 2010 and May 31, 2010
Note receivable 554,993 474,993 432,146
Inventories 3,534,248 3,431,719 3,481,074
Prepaid expenses and other assets 89,835 75,543 95,586
Income taxes receivable 316,374 316,374 316,374
Deferred income taxes 96,171 96,171 105,314
- - -
Total current assets 7,266,833 7,005,696 7,209,939
Income tax provision (benefit) 130,181 (152,264) 44,622
- - -
Net Income (Loss) $ 252,703 $ (285,606) $ 36,489
= = =
Basic income (loss) per common share $ 0.11 $ (0.12) $ 0.02
= = =
Diluted income (loss) per common share $ 0.11 $ (0.12) $ 0.02
= = =
Weighted Average of Common Shares
Outstanding
Basic 2,304,659 2,297,730 2,303,807
Diluted 2,304,659 2,297,730 2,303,807
Interest expense $ - $ - $ -
Income taxes $ 30,500 $ - $ -
Three Months Ended
September 30, September 30,
2010 2009
- -
Numerator:
Net income (loss) $ 252,703 $ (285,606)
- -
Numerator for basic and diluted
income (loss) per share $ 252,703 $ (285,606)
- -
Denominator:
Weighted-average shares outstanding-basic 2,304,659 2,297,730
Effect of dilutive securities:
Stock options - -
- -
Sales and administration expenses were down 21% to $682,966 from $867,058 in the
prior year, reflecting lower legal, professional and stock compensation expense
in the current quarter ending September 30, 2010. Discretionary product
development spending for the quarter ended September 30, 2010 was $218,397, or
9% of sales, compared to $301,760, or 16% of sales for the comparable period
last year. The spending level is down $83,363, or 28% however, this is a timing
issue, as the Company intends to maintain a vigorous research and development
effort.
Cash and cash equivalents of $1,288,555 at September 30, 2010 are down $115,284,
or 8.2% on a balance of $1,403,839 as of June 30, 2010. The primary components
comprising the negative $19,281 of cash flow from operations consists of a
$277,810 decrease in accounts payable offset by the $252,703 net income. The
decrease in accounts payable for the quarter was a timing issue regarding when
goods were received versus paid.
Read the The complete Report
Phazar Corp has a market cap of $13.1 million; its shares were traded at around $5.5 with and P/S ratio of 1.7. ANTP is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
September 30, June 30, May 31,2010 2010 2010
(Unaudited) (Unaudited) (Audited)
- - -
CURRENT ASSETS
Cash and cash equivalents $ 1,288,555 $ 1,403,839 $ 2,030,774
Account receivable:
Trade,net of allowance for doubtful
accounts of $0 as of September 30, 2010, 1,386,657 1,207,057 748,671
June 30, 2010 and May 31, 2010
Note receivable 554,993 474,993 432,146
Inventories 3,534,248 3,431,719 3,481,074
Prepaid expenses and other assets 89,835 75,543 95,586
Income taxes receivable 316,374 316,374 316,374
Deferred income taxes 96,171 96,171 105,314
- - -
Total current assets 7,266,833 7,005,696 7,209,939
Income tax provision (benefit) 130,181 (152,264) 44,622
- - -
Net Income (Loss) $ 252,703 $ (285,606) $ 36,489
= = =
Basic income (loss) per common share $ 0.11 $ (0.12) $ 0.02
= = =
Diluted income (loss) per common share $ 0.11 $ (0.12) $ 0.02
= = =
Weighted Average of Common Shares
Outstanding
Basic 2,304,659 2,297,730 2,303,807
Diluted 2,304,659 2,297,730 2,303,807
Interest expense $ - $ - $ -
Income taxes $ 30,500 $ - $ -
Three Months Ended
September 30, September 30,
2010 2009
- -
Numerator:
Net income (loss) $ 252,703 $ (285,606)
- -
Numerator for basic and diluted
income (loss) per share $ 252,703 $ (285,606)
- -
Denominator:
Weighted-average shares outstanding-basic 2,304,659 2,297,730
Effect of dilutive securities:
Stock options - -
- -
Sales and administration expenses were down 21% to $682,966 from $867,058 in the
prior year, reflecting lower legal, professional and stock compensation expense
in the current quarter ending September 30, 2010. Discretionary product
development spending for the quarter ended September 30, 2010 was $218,397, or
9% of sales, compared to $301,760, or 16% of sales for the comparable period
last year. The spending level is down $83,363, or 28% however, this is a timing
issue, as the Company intends to maintain a vigorous research and development
effort.
Cash and cash equivalents of $1,288,555 at September 30, 2010 are down $115,284,
or 8.2% on a balance of $1,403,839 as of June 30, 2010. The primary components
comprising the negative $19,281 of cash flow from operations consists of a
$277,810 decrease in accounts payable offset by the $252,703 net income. The
decrease in accounts payable for the quarter was a timing issue regarding when
goods were received versus paid.
Read the The complete Report
