Arotech corp (ARTX)
Balance Sheet / Quarterly
Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10
ASSETS
CURRENT ASSETS:
Cash and cash equivalents

5,196

3,732

4,523

4,222

4,990

7,477

8,027

5,205

4,335

5,099

8,534

7,130

10,322

9,896

11,414

10,608

11,025

12,084

11,959

11,291

10,802

972

6,376

5,821

4,863

953

377

1,580

757

1,391

1,723

2,324

1,848

1,172

2,256

5,800

Available for sale securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

391

399

Restricted collateral deposits

157

154

229

222

191

191

192

283

327

295

284

268

235

65

66

89

235

239

234

236

241

248

496

498

527

491

489

186

93

93

98

1,679

1,789

1,936

2,257

1,672

Trade receivables, net

17,163

15,600

11,801

16,259

14,189

14,331

14,329

19,258

13,827

15,431

17,791

16,821

17,226

16,200

14,957

17,401

16,173

14,788

16,513

17,595

14,911

12,923

14,869

12,362

13,820

19,628

14,329

9,639

10,012

11,322

7,465

11,883

10,351

13,671

8,539

12,070

Contract assets

24,970

25,442

22,319

17,867

-

-

-

16,094

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled receivables

-

-

-

-

19,549

16,478

18,608

-

15,010

10,053

9,383

10,981

11,709

7,985

9,789

12,132

10,701

12,632

14,454

15,937

19,036

-

-

8,463

-

-

-

-

-

-

-

-

-

-

-

-

Unbilled receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,839

7,441

-

7,758

8,579

12,480

13,374

13,405

10,144

8,281

5,722

4,747

3,143

5,169

3,280

Other accounts receivable and prepaid expenses

3,628

3,628

6,548

5,989

3,126

2,272

1,797

2,342

2,519

2,701

2,388

2,156

2,403

2,078

1,291

1,007

1,524

1,985

1,709

1,155

1,544

2,163

1,714

1,379

1,433

1,003

1,027

1,178

1,344

1,342

1,285

1,453

1,493

1,469

-

720

Other accounts receivable and prepaid expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,122

-

Inventories, net

8,905

9,236

9,452

9,912

9,749

9,787

8,972

8,654

10,060

10,709

9,798

10,318

10,569

9,673

9,907

9,607

9,974

9,926

9,091

9,811

10,711

9,560

8,532

10,074

10,543

9,803

10,461

10,033

10,908

10,376

9,847

9,503

14,592

13,923

11,300

7,768

Current assets of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

40

-

-

-

-

-

-

-

-

-

-

-

71

77

122

389

1,216

2,609

4,427

6,032

-

-

-

4,464

Total current assets

60,023

57,766

54,875

54,474

51,798

50,539

51,927

51,839

46,080

44,291

48,181

47,678

52,507

45,899

47,427

50,847

49,634

51,655

53,963

56,028

57,248

46,707

39,430

38,600

39,019

40,536

39,288

36,382

37,739

37,279

33,130

38,599

34,822

35,317

31,035

36,177

LONG TERM ASSETS:
Contractual and Israeli statutory severance pay fund

3,883

3,727

3,637

3,427

3,761

3,688

3,745

3,754

3,581

3,500

3,270

3,177

4,787

5,661

5,755

5,370

5,232

5,282

4,938

4,961

-

-

-

4,968

-

-

-

4,177

-

-

-

-

-

-

-

-

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

623

677

665

652

Israeli statutory and contractual severance pay fund

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,900

5,083

4,944

-

4,743

4,655

4,603

-

3,964

3,853

3,993

3,554

4,252

4,478

4,316

3,492

Other long term receivables

537

539

541

543

590

499

180

184

146

108

71

56

24

23

24

23

23

24

22

23

84

90

89

73

72

70

56

55

52

46

48

58

342

348

645

374

Property and equipment, net

9,504

9,398

8,931

8,914

9,150

8,965

9,124

9,276

8,484

8,335

6,198

5,915

6,010

6,393

6,483

6,385

6,327

6,593

6,395

6,462

6,114

6,150

4,924

4,926

4,894

5,153

5,070

4,464

4,309

4,390

4,660

4,631

6,223

4,530

4,450

3,113

Right of use asset

5,887

5,879

6,035

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other intangible assets, net

4,919

4,857

4,841

4,465

4,313

4,543

4,690

5,205

5,225

5,732

6,180

6,823

7,197

7,896

8,594

9,334

9,904

10,274

10,979

11,840

12,396

13,259

1,046

1,059

1,360

1,655

1,953

2,238

2,343

2,649

2,861

3,153

3,328

3,942

4,410

4,864

Goodwill

46,138

46,138

46,138

46,138

46,138

46,138

46,138

46,138

46,022

46,083

45,838

45,489

45,627

45,487

45,614

45,463

45,371

45,609

45,287

45,422

45,730

46,193

30,994

31,024

30,901

30,757

30,705

30,562

30,281

30,265

30,591

30,421

32,430

33,092

32,936

30,879

Discontinued operations

-

-

-

-

-

-

-

-

270

270

270

270

307

-

-

68

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Discontinued operations  long term

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

379

726

683

-

-

-

4,082

Total long term assets

70,870

70,540

70,124

63,488

63,953

63,834

63,879

64,558

63,729

64,029

61,830

61,732

63,955

65,462

66,472

66,645

66,859

67,783

67,624

68,710

69,226

70,778

41,999

42,053

41,972

42,291

42,388

41,497

40,952

41,584

42,883

42,502

47,200

47,070

47,424

47,459

Total assets

130,893

128,306

125,000

117,963

115,752

114,373

115,806

116,398

109,810

108,321

110,011

109,410

116,462

111,361

113,899

117,493

116,494

119,439

121,587

124,739

126,474

117,486

81,429

80,654

80,991

82,827

81,677

77,880

78,691

78,864

76,013

81,101

82,023

82,387

78,460

83,636

LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Trade payables

7,882

7,303

6,360

6,442

5,889

4,850

5,270

5,560

6,095

4,441

5,254

4,362

4,693

3,075

5,230

5,914

4,833

4,523

4,664

6,772

4,803

4,221

-

5,107

-

-

-

-

-

-

-

-

-

-

-

-

Trade payables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,636

-

5,890

6,588

8,307

7,156

9,136

10,252

5,011

6,694

12,229

7,062

4,782

3,257

Other accounts payable and accrued expenses

6,245

5,115

4,689

6,498

5,591

4,645

5,156

6,640

5,243

4,778

5,691

5,597

4,808

5,551

5,320

5,560

5,093

5,327

7,636

9,105

8,532

7,851

5,040

6,012

4,557

3,911

3,637

4,252

3,168

3,284

3,725

3,634

4,179

5,503

5,457

5,824

Current portion of lease obligations

628

634

622

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of capitalized leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

3

4

11

16

23

32

39

Current portion of long term debt

2,983

2,397

2,235

2,204

2,220

2,232

2,244

2,248

2,248

2,252

2,081

1,828

1,664

1,383

1,067

4,362

4,355

4,358

4,330

4,380

4,340

4,339

96

95

94

55

334

888

56

62

89

94

659

559

998

1,351

Short term bank credit

10,334

12,052

9,703

5,500

4,774

5,571

6,223

5,092

3,077

3,830

5,803

2,973

7,409

4,326

4,953

4,060

5,760

6,460

3,760

33

2,782

5,095

2,473

0

3,716

10,215

11,991

9,787

10,487

8,541

5,415

6,618

36

4,836

1,912

2,488

Contract liabilities

7,504

6,430

6,750

7,054

6,514

-

-

6,778

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Severance payable

-

-

-

-

-

-

-

-

0

0

-

-

524

-

-

-

-

-

-

-

-

-

-

-

13

75

100

588

1,268

3,356

5,827

7,306

-

-

-

2,052

Severance payable

-

-

-

-

-

-

-

-

-

-

-

2,577

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenues

-

-

-

-

-

7,048

6,500

-

4,590

4,945

5,362

6,421

5,808

5,745

5,596

6,879

5,204

5,811

6,489

7,826

6,300

5,564

6,406

7,020

5,142

7,428

4,540

3,798

4,346

3,939

3,445

4,019

6,679

4,947

4,560

5,768

Total current liabilities

35,580

33,931

30,361

27,700

24,989

24,348

25,395

26,318

21,255

20,249

24,192

23,760

24,908

20,082

22,168

26,776

25,247

26,480

26,881

28,117

26,760

27,073

17,653

18,234

19,415

28,274

28,911

26,472

28,466

29,439

23,518

28,378

23,799

22,933

17,743

20,780

LONG TERM LIABILITIES:
Contractual and accrued Israeli statutory severance pay

4,682

4,509

4,465

4,125

4,746

4,663

4,744

4,709

4,530

4,441

4,106

3,891

7,215

7,857

8,007

7,497

7,406

7,465

6,975

7,051

7,141

7,385

7,128

7,020

6,805

6,685

6,627

6,133

5,835

5,692

5,751

5,268

5,987

6,295

6,118

5,019

Long term portion of lease obligations

5,569

5,551

5,714

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long term portion of debt

5,856

5,273

6,006

6,360

6,908

7,456

8,010

8,570

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax liability

3,219

3,078

2,970

2,863

6,107

-

-

2,399

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long term portion of debt

-

-

-

-

-

-

-

-

9,131

9,706

8,173

-

55

-

-

19

-

-

-

-

-

-

-

-

0

892

902

912

922

931

952

963

-

-

-

1,985

Long term portion of capitalized leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

3

4

11

Long term portion of debt

-

-

-

-

-

-

-

-

-

-

-

8,703

9,164

9,656

9,252

11,856

13,417

14,514

15,489

16,934

18,357

19,443

1,810

1,830

1,859

990

1,003

992

1,031

1,045

1,000

1,018

2,013

998

1,021

17

Deferred income tax liability

-

-

-

-

-

5,962

5,828

-

8,554

8,325

8,096

7,868

7,639

7,410

7,182

7,031

6,802

6,416

6,266

6,117

5,966

5,817

5,667

5,518

5,368

5,219

5,069

4,920

4,770

4,620

4,471

4,321

3,652

3,540

3,427

3,315

Other long term liabilities

42

43

46

137

116

112

108

105

99

97

104

100

93

86

80

264

239

214

188

163

2,438

2,418

96

74

49

25

26

27

22

23

23

24

23

23

184

22

Total long-term liabilities

19,370

18,457

19,203

13,487

17,878

18,195

18,691

15,785

22,315

22,570

20,481

20,564

24,168

25,011

24,522

26,669

27,865

28,610

28,919

30,266

33,903

35,064

14,702

14,442

14,083

13,813

13,630

12,986

12,581

12,312

12,198

11,597

11,679

10,861

10,756

10,371

Total liabilities

54,950

52,389

49,565

41,187

42,867

42,544

44,087

42,104

43,571

42,820

44,673

44,325

49,077

45,094

46,691

53,445

53,113

55,091

55,801

58,383

60,663

62,137

-

32,677

-

-

-

-

-

-

-

-

-

-

-

-

STOCKHOLDERS’ EQUITY:
Common stock – $0.01 par value each; Authorized: 50,000,000 shares as of September 30, 2019 and December 31, 2018; Issued and outstanding: 26,665,240 shares and 26,486,152 shares as of September 30, 2019 and December 31, 2018, respectively

266

266

266

264

264

264

264

263

263

264

264

264

264

264

264

246

246

246

245

245

243

210

201

201

195

162

161

161

159

159

156

155

155

151

148

148

Preferred shares – $0.01 par value each; Authorized: 1,000,000 shares as of September 30, 2019 and December 31, 2018; No shares issued or outstanding as of September 30, 2019 and December 31, 2018

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

0

0

Additional paid-in capital

251,727

251,638

251,572

251,551

251,263

250,962

250,880

250,826

250,714

250,598

250,512

250,405

250,312

250,175

250,018

246,591

246,444

246,303

246,129

245,970

245,183

234,382

230,046

229,917

229,004

223,347

223,279

223,181

222,953

222,901

222,849

222,786

222,623

222,355

221,839

221,856

Accumulated deficit

-177,576

-177,512

-177,905

-176,498

-180,149

-180,889

-180,973

-178,368

-185,977

-186,765

-186,171

-185,402

-183,362

-183,998

-183,198

-182,554

-182,953

-182,335

-180,092

-179,609

-179,921

-180,299

-182,082

-183,096

-182,506

-183,367

-184,844

-185,248

-185,695

-186,193

-183,291

-182,232

-176,945

-175,419

-173,348

-170,705

Notes receivable from stockholders

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

908

954

954

954

954

954

954

954

954

Accumulated other comprehensive income

2,433

2,433

2,408

2,365

2,413

2,399

2,454

2,479

2,146

2,312

1,641

726

1,078

733

1,031

671

551

1,040

411

657

1,213

1,963

1,816

1,862

1,707

1,504

1,446

1,234

1,180

1,198

1,537

1,370

1,665

2,461

2,275

2,139

Total stockholders’ equity

75,943

75,917

75,434

76,775

72,884

71,829

71,718

74,293

66,239

65,501

65,338

65,085

67,385

66,267

67,208

64,047

63,381

64,347

65,786

66,355

65,810

55,348

49,074

47,976

47,492

40,739

39,135

38,421

37,644

37,111

40,296

41,125

46,543

48,593

49,960

52,484

Total liabilities and stockholders’ equity

130,893

128,306

125,000

117,963

115,752

114,373

115,806

116,398

109,810

108,321

110,011

109,410

116,462

111,361

113,899

117,493

116,494

119,439

121,587

124,739

126,474

117,486

81,429

80,654

80,991

82,827

81,677

77,880

78,691

78,864

76,013

81,101

82,023

82,387

78,460

83,636