10-Q Filing

Climb Global Solutions, Inc. CIK: 945983 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-004711`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	wstg-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 51 Stockholders Equity 27 Comprehensive Income 8

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$785.00K	USD	Point-in-time
Accounts receivable, allowances (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$743.00K	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.88M	USD	Point-in-time
Accounts receivable, net of allowances of $743 and $785, respectively	`AccountsReceivableNetCurrent`	$84.21M	USD	Point-in-time
Accounts receivable, net of allowances of $743 and $785, respectively	`AccountsReceivableNetCurrent`	$81.35M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Inventory, net	`InventoryNet`	$1.47M	USD	Point-in-time
Inventory, net	`InventoryNet`	$1.64M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.51M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	4.50M	shares	Point-in-time
Vendor prepayments	`VendorPrepayments`	$1.57M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	771,131.00	shares	Point-in-time
Vendor prepayments	`VendorPrepayments`	$3.17M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	788,006.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$102.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$104.20M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.54M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.59M	USD	Point-in-time
Right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$2.07M	USD	Point-in-time
Accounts receivable-long-term, net	`AccountsReceivableNetNoncurrent`	$3.10M	USD	Point-in-time
Accounts receivable-long-term, net	`AccountsReceivableNetNoncurrent`	$3.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$215.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$181.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$79.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$145.00K	USD	Point-in-time
Total assets	`Assets`	$107.97M	USD	Point-in-time
Total assets	`Assets`	$111.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$66.75M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$66.65M	USD	Point-in-time
Lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$410.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$66.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$67.16M	USD	Point-in-time
Lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.46M	USD	Point-in-time
Deferred rent and tenant allowances	`DeferredRentCreditNoncurrent`	$745.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$67.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$69.62M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value; 10,000,000 shares authorized; 5,284,500 shares issued: 4,513,369 and 4,496,494 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Common stock, $.01 par value; 10,000,000 shares authorized; 5,284,500 shares issued: 4,513,369 and 4,496,494 shares outstanding, respectively	`CommonStockValue`	$53.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$32.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$32.39M	USD	Point-in-time
Treasury stock, at cost, 771,131 and 788,006 shares, respectively	`TreasuryStockCommonValue`	$13.45M	USD	Point-in-time
Treasury stock, at cost, 771,131 and 788,006 shares, respectively	`TreasuryStockCommonValue`	$13.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$22.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.69M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.29M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.42M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$38.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$39.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$41.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$40.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$111.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$107.97M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$44.86M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$40.55M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$37.62M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$33.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.23M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.51M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.05M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.85M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.72M	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$238.00K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNonoperatingNet`	$169.00K	USD	1 Quarter
Foreign currency transaction gains	`ForeignCurrencyTransactionGainLossBeforeTax`	$62.00K	USD	1 Quarter
Foreign currency transaction gains	`ForeignCurrencyTransactionGainLossBeforeTax`	$2.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.09M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.95M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$489.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$487.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.60M	USD	1 Quarter
Income per common share-Basic	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
Income per common share-Basic	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Income per common share-Diluted	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Income per common share-Diluted	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Weighted average common shares outstanding Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.40M	shares	1 Quarter
Weighted average common shares outstanding Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.30M	shares	1 Quarter
Weighted average common shares outstanding Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.30M	shares	1 Quarter
Weighted average common shares outstanding Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.40M	shares	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.17	USD	1 Quarter
Dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.17	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.60M	USD	1 Quarter
Net income	`ProfitLoss`	$1.46M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$135.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$114.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$66.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$31.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$165.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$349.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.00K	USD	1 Quarter
Amortization of discount on accounts receivable	`AdjustmentForAmortization`	$-220.00K	USD	1 Quarter
Amortization of discount on accounts receivable	`AdjustmentForAmortization`	$-153.00K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortization`	$94.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.12M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.54M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$163.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-427.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$728.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$62.00K	USD	1 Quarter
Vendor prepayments	`IncreaseDecreaseInVendorPrepayments`	$-1.60M	USD	1 Quarter
Vendor prepayments	`IncreaseDecreaseInVendorPrepayments`	$-125.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$94.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.37M	USD	1 Quarter
Lease liability, net	`IncreaseDecreaseInLeaseLiability`	$-33.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$142.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-30.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.48M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$28.00K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquireProductiveAssets`	$82.00K	USD	1 Quarter
Purchase of equipment and leasehold improvements	`PaymentsToAcquireProductiveAssets`	$67.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-82.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$20.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$127.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$767.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$765.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-892.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-787.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$20.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-57.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.46M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-821.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.99M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.88M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaidNet`	$56.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$161.00K	USD	1 Quarter

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$38.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$39.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$41.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$40.57M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`TreasuryStockCommonShares`	771,131.00	shares	Point-in-time
Balance (in shares)	`TreasuryStockCommonShares`	788,006.00	shares	Point-in-time
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.60M	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-180.00K	USD	1 Quarter
Translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$127.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$765.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStockCash`	$767.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$165.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$349.00K	USD	1 Quarter
Restricted stock grants (net of forfeitures)	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$165.00K	USD	1 Quarter
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$20.00K	USD	1 Quarter
Treasury shares repurchased	`TreasuryStockValueAcquiredCostMethod`	$127.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$38.71M	USD	Point-in-time
Balance	`StockholdersEquity`	$39.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$41.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$40.57M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	5.28M	shares	Point-in-time
Balance (in shares)	`TreasuryStockCommonShares`	771,131.00	shares	Point-in-time
Balance (in shares)	`TreasuryStockCommonShares`	788,006.00	shares	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.60M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-180.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$127.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-180.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$127.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.59M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.42M	USD	1 Quarter

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