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10-Q Filing

LIMBACH HOLDINGS, INC. CIK: 1606163 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001144204-18-028951
Period End Date 20180331
Filing Date 20180515
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance lmb-20180331.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $7.80M USD Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $8.80M USD Point-in-time
Cash and cash equivalents Cash $375.00K USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common Stock, Par or Stated Value Per Share CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents Cash $626.00K USD Point-in-time
Cash and cash equivalents Cash $6.29M USD Point-in-time
Cash and cash equivalents Cash $7.41M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $113.00K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $113.00K USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 100.00M shares Point-in-time
Common stock, shares, issued CommonStockSharesIssued 7.54M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $126.84M USD Point-in-time
Common stock, shares, issued CommonStockSharesIssued 7.50M shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $129.34M USD Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear $33.01M USD Point-in-time
Common stock, shares, outstanding CommonStockSharesOutstanding 7.50M shares Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear $29.97M USD Point-in-time
Common stock, shares, outstanding CommonStockSharesOutstanding 7.54M shares Point-in-time
Other current assets OtherAssetsCurrent $3.17M USD Point-in-time
Other current assets OtherAssetsCurrent $4.30M USD Point-in-time
Total current assets AssetsCurrent $166.26M USD Point-in-time
Total current assets AssetsCurrent $161.60M USD Point-in-time
Property and equipment, net of accumulated depreciation of $8.8 million and $7.8 million at March 31, 2018 and December 31, 2017, respectively PropertyPlantAndEquipmentNet $17.92M USD Point-in-time
Property and equipment, net of accumulated depreciation of $8.8 million and $7.8 million at March 31, 2018 and December 31, 2017, respectively PropertyPlantAndEquipmentNet $18.32M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $14.22M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $13.89M USD Point-in-time
Goodwill Goodwill $10.49M USD Point-in-time
Goodwill Goodwill $10.49M USD Point-in-time
Deferred tax asset DeferredTaxAssetsLiabilitiesNetNoncurrent $3.66M USD Point-in-time
Deferred tax asset DeferredTaxAssetsLiabilitiesNetNoncurrent $4.71M USD Point-in-time
Other assets OtherAssetsNoncurrent $493.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $465.00K USD Point-in-time
Total assets Assets $213.02M USD Point-in-time
Total assets Assets $209.50M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $6.36M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $7.30M USD Point-in-time
Accounts payable, including retainage AccountsPayableCurrent $67.44M USD Point-in-time
Accounts payable, including retainage AccountsPayableCurrent $62.08M USD Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts BillingsInExcessOfCostCurrent $28.54M USD Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts BillingsInExcessOfCostCurrent $31.18M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $2.22M USD Point-in-time
Accrued income taxes AccruedIncomeTaxesCurrent $2.09M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesAndOtherLiabilities $26.53M USD Point-in-time
Accrued expenses and other current liabilities AccruedLiabilitiesAndOtherLiabilities $30.93M USD Point-in-time
Total current liabilities LiabilitiesCurrent $135.48M USD Point-in-time
Total current liabilities LiabilitiesCurrent $129.18M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $20.56M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $35.19M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $1.04M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $861.00K USD Point-in-time
Total liabilities Liabilities $165.40M USD Point-in-time
Total liabilities Liabilities $156.90M USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Redeemable convertible preferred stock, net, par value $0.0001, 1,000,000 shares authorized, no shares issued and outstanding at March 31, 2018 and 280,000 issued and outstanding at December 31, 2017, respectively ($7,853 redemption value at December 31, 2017) TemporaryEquityCarryingAmountAttributableToParent $7.96M USD Point-in-time
Redeemable convertible preferred stock, net, par value $0.0001, 1,000,000 shares authorized, no shares issued and outstanding at March 31, 2018 and 280,000 issued and outstanding at December 31, 2017, respectively ($7,853 redemption value at December 31, 2017) TemporaryEquityCarryingAmountAttributableToParent - USD Point-in-time
Common stock, $.0001 par value; 100,000,000 shares authorized, 7,542,249 issued and outstanding at March 31, 2018 and 7,504,133 at December 31, 2017 CommonStockValue $1.00K USD Point-in-time
Common stock, $.0001 par value; 100,000,000 shares authorized, 7,542,249 issued and outstanding at March 31, 2018 and 7,504,133 at December 31, 2017 CommonStockValue $1.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $54.74M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $53.10M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-9.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-6.58M USD Point-in-time
Total stockholders equity StockholdersEquity $48.16M USD Point-in-time
Total stockholders equity StockholdersEquity $44.10M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $209.50M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $213.02M USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue SalesRevenueNet $120.55M USD 1 Quarter
Revenue SalesRevenueNet $115.19M USD 1 Quarter
Cost of revenue CostOfRevenue $107.26M USD 1 Quarter
Cost of revenue CostOfRevenue $101.42M USD 1 Quarter
Gross profit GrossProfit $13.29M USD 1 Quarter
Gross profit GrossProfit $13.77M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $14.57M USD 1 Quarter
Selling, general and administrative expense SellingGeneralAndAdministrativeExpense $15.67M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $1.01M USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $335.00K USD 1 Quarter
Total operating expenses OperatingExpenses $15.57M USD 1 Quarter
Total operating expenses OperatingExpenses $16.00M USD 1 Quarter
Operating loss OperatingIncomeLoss $-2.71M USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.81M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-454.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-769.00K USD 1 Quarter
Gain (loss) on disposition of property and equipment GainLossOnSaleOfPropertyPlantEquipment $16.00K USD 1 Quarter
Gain (loss) on disposition of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-37.00K USD 1 Quarter
Total other expenses NonoperatingIncomeExpense $-753.00K USD 1 Quarter
Total other expenses NonoperatingIncomeExpense $-491.00K USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.47M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.30M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-1.08M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-1.04M USD 1 Quarter
Net loss NetIncomeLoss $-2.42M USD 1 Quarter
Net loss NetIncomeLoss $-1.21M USD 1 Quarter
Dividends on cumulative redeemable convertible preferred stock PreferredStockDividendsIncomeStatementImpact $238.00K USD 1 Quarter
Dividends on cumulative redeemable convertible preferred stock PreferredStockDividendsIncomeStatementImpact $-113.00K USD 1 Quarter
Premium paid on redemption of redeemable convertible preferred stock PreferredStockRedemptionPremium $2.22M USD 1 Quarter
Premium paid on redemption of redeemable convertible preferred stock PreferredStockRedemptionPremium - USD 1 Quarter
Net loss attributable to Limbach Holdings, Inc. common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $-4.53M USD 1 Quarter
Net loss attributable to Limbach Holdings, Inc. common stockholders NetIncomeLossAvailableToCommonStockholdersBasic $-1.45M USD 1 Quarter
Net loss attributable to Limbach Holdings, Inc. common stockholders EarningsPerShareBasic $-0.19 USD 1 Quarter
Net loss attributable to Limbach Holdings, Inc. common stockholders EarningsPerShareBasic $-0.60 USD 1 Quarter
Net loss attributable to Limbach Holdings, Inc. common stockholders EarningsPerShareDiluted $-0.60 USD 1 Quarter
Net loss attributable to Limbach Holdings, Inc. common stockholders EarningsPerShareDiluted $-0.19 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 7.45M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 7.54M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 7.45M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 7.54M shares 1 Quarter
Cash Flow Statement 86 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-2.42M USD 1 Quarter
Net loss NetIncomeLoss $-1.21M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.65M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.37M USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $20.00K USD 1 Quarter
Allowance for doubtful accounts ProvisionForDoubtfulAccounts $266.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $467.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation - USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $45.00K USD 1 Quarter
Amortization of debt issuance costs AmortizationOfFinancingCosts $68.00K USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-1.04M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-1.08M USD 1 Quarter
Accretion of preferred stock discount to redemption value PreferredStockAccretionOfRedemptionDiscount - USD 1 Quarter
Accretion of preferred stock discount to redemption value PreferredStockAccretionOfRedemptionDiscount $2.00K USD 1 Quarter
(Gain) loss on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $16.00K USD 1 Quarter
(Gain) loss on sale of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-37.00K USD 1 Quarter
(Increase) decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $-6.23M USD 1 Quarter
(Increase) decrease in accounts receivable IncreaseDecreaseInAccountsReceivable $-2.48M USD 1 Quarter
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract $-2.24M USD 1 Quarter
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract $-3.04M USD 1 Quarter
(Increase) decrease in other current assets IncreaseDecreaseInOtherCurrentAssets $1.13M USD 1 Quarter
(Increase) decrease in other current assets IncreaseDecreaseInOtherCurrentAssets $573.00K USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherNoncurrentAssets $210.00K USD 1 Quarter
(Increase) decrease in other assets IncreaseDecreaseInOtherNoncurrentAssets - USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-5.36M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-3.20M USD 1 Quarter
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts IncreaseDecreaseInBillingInExcessOfCostOfEarnings $-5.08M USD 1 Quarter
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts IncreaseDecreaseInBillingInExcessOfCostOfEarnings $2.64M USD 1 Quarter
Increase (decrease) in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable - USD 1 Quarter
Increase (decrease) in accrued taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-134.00K USD 1 Quarter
Increase (decrease) in accrued expenses and other current liabilities IncreaseDecreaseInOtherAccruedLiabilities $-16.00K USD 1 Quarter
Increase (decrease) in accrued expenses and other current liabilities IncreaseDecreaseInOtherAccruedLiabilities $-4.96M USD 1 Quarter
Increase (decrease) in other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-94.00K USD 1 Quarter
Increase (decrease) in other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $177.00K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.73M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-74.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $7.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $71.00K USD 1 Quarter
Decrease (increase) in advances to joint ventures ProceedsFromDivestitureOfInterestInJointVenture - USD 1 Quarter
Decrease (increase) in advances to joint ventures ProceedsFromDivestitureOfInterestInJointVenture $1.00K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $630.00K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $775.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-623.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-703.00K USD 1 Quarter
Increase (decrease) in bank overdrafts RepaymentsOfBankDebt $4.30M USD 1 Quarter
Increase (decrease) in bank overdrafts RepaymentsOfBankDebt - USD 1 Quarter
Payments on Credit Agreement term loan RepaymentsOfLinesOfCredit $750.00K USD 1 Quarter
Payments on Credit Agreement term loan RepaymentsOfLinesOfCredit $750.00K USD 1 Quarter
Proceeds from Credit Agreement revolver ProceedsFromCreditAgreementRevolver $41.30M USD 1 Quarter
Proceeds from Credit Agreement revolver ProceedsFromCreditAgreementRevolver $13.03M USD 1 Quarter
Payments on Credit Agreement revolver PaymentsOnCreditAgreementRevolver $7.03M USD 1 Quarter
Payments on Credit Agreement revolver PaymentsOnCreditAgreementRevolver $34.85M USD 1 Quarter
Payments on term loan RepaymentsOfMediumTermNotes - USD 1 Quarter
Payments on term loan RepaymentsOfMediumTermNotes $20.00K USD 1 Quarter
Proceeds from Bridge Term Loan ProceedsFromIssuanceOfLongTermDebt $10.00M USD 1 Quarter
Proceeds from Bridge Term Loan ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Payments on Bridge Term Loan RepaymentsOfLongTermDebt - USD 1 Quarter
Payments on Bridge Term Loan RepaymentsOfLongTermDebt $250.00K USD 1 Quarter
Payments on financed insurance premium PaymentsToAcquireLifeInsurancePolicies - USD 1 Quarter
Payments on financed insurance premium PaymentsToAcquireLifeInsurancePolicies $591.00K USD 1 Quarter
Payments on capital leases RepaymentsOfLongTermCapitalLeaseObligations $475.00K USD 1 Quarter
Payments on capital leases RepaymentsOfLongTermCapitalLeaseObligations $404.00K USD 1 Quarter
Convertible preferred stock redeemed PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock - USD 1 Quarter
Convertible preferred stock redeemed PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock $9.19M USD 1 Quarter
Convertible preferred stock dividends paid PaymentsOfDividendsPreferredStockAndPreferenceStock - USD 1 Quarter
Convertible preferred stock dividends paid PaymentsOfDividendsPreferredStockAndPreferenceStock $875.00K USD 1 Quarter
Taxes paid related to net-share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation - USD 1 Quarter
Taxes paid related to net-share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $81.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $526.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $4.24M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.11M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-251.00K USD 1 Quarter
Cash and cash equivalents, beginning of period Cash $375.00K USD Point-in-time
Cash and cash equivalents, beginning of period Cash $626.00K USD Point-in-time
Cash and cash equivalents, beginning of period Cash $6.29M USD Point-in-time
Cash and cash equivalents, beginning of period Cash $7.41M USD Point-in-time
Cash and cash equivalents, end of period Cash $375.00K USD Point-in-time
Cash and cash equivalents, end of period Cash $626.00K USD Point-in-time
Cash and cash equivalents, end of period Cash $6.29M USD Point-in-time
Cash and cash equivalents, end of period Cash $7.41M USD Point-in-time
Property and equipment acquired financed with capital leases CapitalLeaseObligationsIncurred $393.00K USD 1 Quarter
Property and equipment acquired financed with capital leases CapitalLeaseObligationsIncurred $718.00K USD 1 Quarter
Interest paid InterestPaid $729.00K USD 1 Quarter
Interest paid InterestPaid $409.00K USD 1 Quarter
Financed insurance premium InsurancePremiumFinancedPayable $2.13M USD 1 Quarter
Financed insurance premium InsurancePremiumFinancedPayable - USD 1 Quarter
Stockholders Equity 10 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquity $48.16M USD Point-in-time
Beginning Balance StockholdersEquity $44.10M USD Point-in-time
Dividends on redeemable convertible preferred stock DividendsPreferredStock $113.00K USD 1 Quarter
Premium paid on redemption of redeemable convertible preferred stock AdjustmentsToAdditionalPaidInCapitalPartialRedemptionOfRedeemableConvertiblePreferredStock $2.22M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $467.00K USD 1 Quarter
Exercise of warrants StockIssuedDuringPeriodValueExerciseOfWarrants - USD 1 Quarter
Net loss NetIncomeLoss $-2.42M USD 1 Quarter
Net loss NetIncomeLoss $-1.21M USD 1 Quarter
Ending Balance StockholdersEquity $48.16M USD Point-in-time
Ending Balance StockholdersEquity $44.10M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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