American Defense Systems Inc
OTC:ADFS
Income Statement
Earnings Waterfall
American Defense Systems Inc
Income Statement
American Defense Systems Inc
| Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||
| Interest Expense |
2
|
3
|
3
|
4
|
5
|
5
|
5
|
5
|
3
|
3
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Revenue |
36
N/A
|
36
+2%
|
41
+13%
|
40
-2%
|
46
+13%
|
48
+4%
|
42
-11%
|
37
-13%
|
31
-15%
|
23
-28%
|
16
-30%
|
11
-29%
|
9
-22%
|
8
-7%
|
8
-2%
|
7
-13%
|
6
-12%
|
5
-17%
|
4
-26%
|
3
-27%
|
|
| Gross Profit | |||||||||||||||||||||
| Cost of Revenue |
(25)
|
(25)
|
(27)
|
(28)
|
(34)
|
(35)
|
(34)
|
(27)
|
(21)
|
(16)
|
(10)
|
(8)
|
(5)
|
(5)
|
(5)
|
(4)
|
(3)
|
(3)
|
(2)
|
(1)
|
|
| Gross Profit |
11
N/A
|
12
+6%
|
14
+19%
|
12
-12%
|
12
0%
|
13
+6%
|
9
-30%
|
10
+10%
|
10
+3%
|
6
-36%
|
6
-13%
|
3
-45%
|
3
+8%
|
3
-16%
|
3
+8%
|
3
-10%
|
3
-3%
|
3
-5%
|
2
-31%
|
1
-19%
|
|
| Operating Income | |||||||||||||||||||||
| Operating Expenses |
(16)
|
(17)
|
(18)
|
(18)
|
(19)
|
(19)
|
(18)
|
(16)
|
(14)
|
(12)
|
(11)
|
(10)
|
(6)
|
(5)
|
(4)
|
(2)
|
(4)
|
(3)
|
(3)
|
(3)
|
|
| Selling, General & Administrative |
(15)
|
(16)
|
(16)
|
(16)
|
(17)
|
(17)
|
(16)
|
(14)
|
(12)
|
(10)
|
(9)
|
(9)
|
(6)
|
(5)
|
(4)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
|
| Research & Development |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Depreciation & Amortization |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Operating Income |
(5)
N/A
|
(6)
-6%
|
(4)
+32%
|
(6)
-51%
|
(7)
-20%
|
(6)
+18%
|
(9)
-50%
|
(6)
+30%
|
(4)
+40%
|
(6)
-55%
|
(5)
+11%
|
(7)
-40%
|
(3)
+58%
|
(2)
+25%
|
(1)
+57%
|
0
N/A
|
(1)
N/A
|
(1)
+30%
|
(2)
-129%
|
(2)
-4%
|
|
| Pre-Tax Income | |||||||||||||||||||||
| Interest Income Expense |
2
|
2
|
(2)
|
(3)
|
(5)
|
(6)
|
(6)
|
(5)
|
(4)
|
(5)
|
(4)
|
(3)
|
(3)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Non-Reccuring Items |
(0)
|
0
|
(3)
|
(3)
|
(3)
|
(3)
|
0
|
0
|
0
|
13
|
13
|
13
|
12
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
|
| Pre-Tax Income |
(3)
N/A
|
(3)
0%
|
(9)
-155%
|
(11)
-34%
|
(15)
-31%
|
(14)
+5%
|
(15)
-4%
|
(11)
+23%
|
(8)
+28%
|
2
N/A
|
4
+98%
|
2
-37%
|
7
+208%
|
(3)
N/A
|
(1)
+49%
|
0
N/A
|
(1)
N/A
|
(1)
+28%
|
(2)
-145%
|
(2)
+4%
|
|
| Net Income | |||||||||||||||||||||
| Tax Provision |
1
|
1
|
1
|
1
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
(2)
|
(2)
|
(8)
|
(10)
|
(16)
|
(15)
|
(15)
|
(12)
|
(8)
|
2
|
4
|
2
|
7
|
(3)
|
(1)
|
0
|
(1)
|
(1)
|
(2)
|
(2)
|
|
| Net Income (Common) |
(5)
N/A
|
(5)
0%
|
(10)
-124%
|
(13)
-27%
|
(16)
-26%
|
(15)
+5%
|
(16)
-7%
|
(13)
+19%
|
(9)
+29%
|
3
N/A
|
5
+56%
|
4
-22%
|
9
+125%
|
(3)
N/A
|
(1)
+55%
|
0
N/A
|
(1)
N/A
|
(1)
+27%
|
(2)
-136%
|
(2)
+4%
|
|
| EPS (Diluted) |
-0.11
N/A
|
-0.11
N/A
|
-0.24
-118%
|
-0.28
-17%
|
-0.36
-29%
|
-0.33
+8%
|
-0.34
-3%
|
-0.27
+21%
|
-0.19
+30%
|
0.06
N/A
|
0.09
+50%
|
0.07
-22%
|
0.17
+143%
|
-0.06
N/A
|
-0.03
+50%
|
0
N/A
|
-0.02
N/A
|
-0.01
+50%
|
-0.03
-200%
|
-0.03
N/A
|
|