Filing Flows › Positron (POSC) › Q4 2014
Positron (POSC) Q4 2014 earnings results (fourth quarter 2014)
10-K filed Mar 31, 2015
Positron (POSC) reported revenue of $259K for the fourth quarter 2014 (Q4 2014), -46% from a year earlier and -35% from the quarter before. Operating margin was -248.6%, net earnings $86K (33.2% of revenue).
Positron, Q4 2014: revenue $259K (-46% year over year), operating margin -248.6%, net earnings $86K, operating cash flow −$532K. The chart follows the revenue to costs, profit and cash.
| Q4 2014 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $259K | -35% | -46% |
| Operating profit | −$644K | — | — |
| Net earnings | $86K | — | — |
| Operating cash flow | −$532K | — | — |
What changed
Revenue was $259K in Q4 2014, down 46% year over year and down 35% from the previous quarter. Medical equipment was the largest line at 95% of revenue.
Gross margin was 10.4%, down 24.0 points from a year earlier. Operating costs exceeded revenue by $644K, an operating margin of -248.6%. Operating expenses fell 50% while revenue fell 46%. The fastest-growing cost line was Research & development (+28%). Net earnings were $86K, down 97% year over year. The effective tax rate was 0.0%. Non-operating items added $730K, 849% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$532K. Non-cash charges added back $40K of depreciation and amortization and $89K of share-based compensation. Working capital and other items used $747K. Capital expenditures of $1K exceeded it, leaving free cash flow of −$533K.
Questions
What was Positron's revenue in the fourth quarter 2014?
Positron (POSC) reported revenue of $259K for the fourth quarter 2014 (Q4 2014), -46% from a year earlier and -35% from the quarter before.
Was Positron profitable in the fourth quarter 2014?
Operating loss was $644K (-248.6% of revenue) and net earnings $86K.
Source: Positron 10-K on SEC EDGAR.