10-Q Filing

Stabilis Solutions, Inc. CIK: 1043186 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-218583`
Period End Date	20130331
Filing Date	20130514
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	aeti-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 43 Cash Flow Statement 66

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable-trade, net of allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$225.00K	USD	Point-in-time
Accounts receivable-trade, net of allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$398.00K	USD	Point-in-time
Redeemable convertible preferred stock, Series A, net of discount	`PreferredStockDiscountOnShares`	$796.00K	USD	Point-in-time
Redeemable convertible preferred stock, Series A, net of discount	`PreferredStockDiscountOnShares`	$806.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.48M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable-trade, net of allowance of $398 and $225 at March 31, 2013 and December 31,2012	`AccountsReceivableNetCurrent`	$9.73M	USD	Point-in-time
Redeemable convertible preferred stock, shares authorized	`TemporaryEquitySharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable-trade, net of allowance of $398 and $225 at March 31, 2013 and December 31,2012	`AccountsReceivableNetCurrent`	$11.51M	USD	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.00M	shares	Point-in-time
Redeemable convertible preferred stock, shares issued	`TemporaryEquitySharesIssued`	1.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$5.20M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.62M	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$2.21M	USD	Point-in-time
Redeemable convertible preferred stock, shares outstanding	`TemporaryEquitySharesOutstanding`	1.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$2.58M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$318.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$327.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$22.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$24.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.96M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.92M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$4.92M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.96M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.92M	shares	Point-in-time
Investments in foreign joint ventures	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$11.41M	USD	Point-in-time
Investments in foreign joint ventures	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$12.91M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$297.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$264.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	49,863.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	20,222.00	shares	Point-in-time
Retained earnings; accumulated statutory reserves in equity method investments	`RetainedEarningsAppropriated`	$1.62M	USD	Point-in-time
Total assets	`Assets`	$43.03M	USD	Point-in-time
Total assets	`Assets`	$38.97M	USD	Point-in-time
Retained earnings; accumulated statutory reserves in equity method investments	`RetainedEarningsAppropriated`	$1.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.44M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$1.19M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$358.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$513.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$5.34M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$3.58M	USD	Point-in-time
Short-term notes payable	`NotesPayableCurrent`	$54.00K	USD	Point-in-time
Short-term notes payable	`NotesPayableCurrent`	$14.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$9.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$17.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.11M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$500.00K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$500.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent`	$3.33M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent`	$3.06M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$122.00K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$156.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$16.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.79M	USD	Point-in-time
Redeemable convertible preferred stock, Series A, net of discount of $796 at March 31, 2013 and $806 at December 31, 2012; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at March 31, 2013, and December 31, 2012	`SharesSubjectToMandatoryRedemptionSettlementTermsAmount`	$4.20M	USD	Point-in-time
Redeemable convertible preferred stock, Series A, net of discount of $796 at March 31, 2013 and $806 at December 31, 2012; $0.001 par value, 1,000,000 shares authorized, issued and outstanding at March 31, 2013, and December 31, 2012	`SharesSubjectToMandatoryRedemptionSettlementTermsAmount`	$4.19M	USD	Point-in-time
Common stock; $0.001 par value, 50,000,000 shares authorized, 7,960,925 and 7,919,032 shares issued and outstanding at March 31, 2013 and December 31, 2012	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock; $0.001 par value, 50,000,000 shares authorized, 7,960,925 and 7,919,032 shares issued and outstanding at March 31, 2013 and December 31, 2012	`CommonStockValue`	$8.00K	USD	Point-in-time
Treasury stock, at cost (49,863 shares at March 31, 2013 and 20,222 shares at December 31, 2012)	`TreasuryStockValue`	$238.00K	USD	Point-in-time
Treasury stock, at cost (49,863 shares at March 31, 2013 and 20,222 shares at December 31, 2012)	`TreasuryStockValue`	$92.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.80M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$900.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$931.00K	USD	Point-in-time
Retained earnings; including accumulated statutory reserves in equity method investments of $1,857 and $1,620 at March 31, 2013 and December 31, 2012	`RetainedEarningsAccumulatedDeficit`	$12.23M	USD	Point-in-time
Retained earnings; including accumulated statutory reserves in equity method investments of $1,857 and $1,620 at March 31, 2013 and December 31, 2012	`RetainedEarningsAccumulatedDeficit`	$10.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$20.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$22.73M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$43.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.97M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$14.43M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$14.43M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$11.45M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$12.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.98M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$25.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$169.00K	USD	1 Quarter
Selling and marketing	`SellingExpense`	$721.00K	USD	1 Quarter
Selling and marketing	`SellingExpense`	$665.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.38M	USD	1 Quarter
Income (loss) from domestic operations	`OperatingIncomeLoss`	$602.00K	USD	1 Quarter
Income (loss) from domestic operations	`OperatingIncomeLoss`	$-199.00K	USD	1 Quarter
Equity income from foreign joint ventures' operations	`IncomeLossFromEquityMethodInvestments`	$771.00K	USD	1 Quarter
Equity income from foreign joint ventures' operations	`IncomeLossFromEquityMethodInvestments`	$1.46M	USD	1 Quarter
Foreign joint ventures' operations related expenses	`JointVentureManagementRelatedExpenses`	$100.00K	USD	1 Quarter
Foreign joint ventures' operations related expenses	`JointVentureManagementRelatedExpenses`	$51.00K	USD	1 Quarter
Net equity income from foreign joint ventures' operations	`NetEquityIncomeFromForeignJointVentures`	$671.00K	USD	1 Quarter
Net equity income from foreign joint ventures' operations	`NetEquityIncomeFromForeignJointVentures`	$1.41M	USD	1 Quarter
Income from domestic operations and net equity income from foreign joint ventures' operations	`IncomeLossFromDomesticOperationsAndNetEquityIncomeFromForeignJointVentures`	$2.01M	USD	1 Quarter
Income from domestic operations and net equity income from foreign joint ventures' operations	`IncomeLossFromDomesticOperationsAndNetEquityIncomeFromForeignJointVentures`	$472.00K	USD	1 Quarter
Interest expense and other, net	`InterestExpense`	$16.00K	USD	1 Quarter
Interest expense and other, net	`InterestExpense`	$49.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.99M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$423.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$89.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$255.00K	USD	1 Quarter
Net income before dividends on redeemable convertible preferred stock	`NetIncomeLoss`	$334.00K	USD	1 Quarter
Net income before dividends on redeemable convertible preferred stock	`NetIncomeLoss`	$1.74M	USD	1 Quarter
Dividends on redeemable convertible preferred stock	`RedeemablePreferredStockDividends`	$85.00K	USD	1 Quarter
Net income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.65M	USD	1 Quarter
Net income attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$334.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.86M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.95M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.38M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.49M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$334.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.74M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$255.00K	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$89.00K	USD	1 Quarter
Equity income from foreign joint ventures' operations	`IncomeLossFromEquityMethodInvestments`	$771.00K	USD	1 Quarter
Equity income from foreign joint ventures' operations	`IncomeLossFromEquityMethodInvestments`	$1.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$186.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$220.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$197.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$104.00K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$30.00K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$110.00K	USD	1 Quarter
Allowance for obsolete inventory	`InventoryWriteDown`	$8.00K	USD	1 Quarter
Allowance for obsolete inventory	`InventoryWriteDown`	$8.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$13.00K	USD	1 Quarter
Deferred compensation costs	`DeferredCompensationArrangementWithIndividualCompensationExpense`	$33.00K	USD	1 Quarter
Deferred compensation costs	`DeferredCompensationArrangementWithIndividualCompensationExpense`	$1.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-1.44M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.79M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-8.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$25.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-422.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInContractReceivablesNet`	$1.15M	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInContractReceivablesNet`	$371.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$276.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-184.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-818.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.76M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$113.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.26M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-729.00K	USD	1 Quarter
Purchases of property, plant and equipment and other assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$151.00K	USD	1 Quarter
Purchases of property, plant and equipment and other assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$277.00K	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$13.00K	USD	1 Quarter
Investment (in) foreign joint ventures' operations	`PaymentsToAcquireInterestInJointVenture`	-	USD	1 Quarter
Investment (in) foreign joint ventures' operations	`PaymentsToAcquireInterestInJointVenture`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$104.00K	USD	1 Quarter
Net cash provided from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-242.00K	USD	1 Quarter
Net cash provided from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-277.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.00K	USD	1 Quarter
Proceeds from sale of preferred stock and warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	-	USD	1 Quarter
Proceeds from sale of preferred stock and warrants	`ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants`	-	USD	1 Quarter
Treasury stock purchase, in accordance with the employee stock incentive plan	`PaymentsForRepurchaseOfCommonStock`	$92.00K	USD	1 Quarter
Treasury stock purchase, in accordance with the employee stock incentive plan	`PaymentsForRepurchaseOfCommonStock`	$147.00K	USD	1 Quarter
Preferred stock cash dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$75.00K	USD	1 Quarter
Capital lease obligation payment	`RepaymentsOfLongTermCapitalLeaseObligations`	$40.00K	USD	1 Quarter
Capital lease obligation payment	`RepaymentsOfLongTermCapitalLeaseObligations`	$40.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-256.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-125.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.10M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$726.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.48M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.65M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$4.48M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$2.65M	USD	Point-in-time
Cash and cash equivalents, end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$5.20M	USD	Point-in-time
Interest paid	`InterestPaid`	$7.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$50.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Common stock issuance to acquire intangible assets	`StockIssued1`	$219.00K	USD	1 Quarter

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