Cartesian, Inc.

CRTN

CRTNCartesian, Inc. US flag

NASDAQ

0.40

USD

- -

Income Statement (USD)

API Chat

	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Sales/Revenue/Turnover	23	24	30	34	72	74	65	67	63	53	55	72	78	72	51
+ Sales & Services Revenue	23	24	30	34	72	74	65	67	63	53	55	72	78	72	51
- Cost of Revenue	12	13	15	18	38	41	38	42	40	33	35	45	53	47	35
+ Cost of Goods & Services	12	13	15	18	38	41	38	42	40	33	35	45	53	47	35
Gross Profit	12	11	15	16	34	33	27	25	23	20	21	27	26	25	15
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	41	17	20	31	38	34	30	28	28	21	21	27	32	28	22
+ Selling, General & Admin	19	16	18	28	34	30	28	27	27	21	21	27	32	28	22
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	22	1	1	3	4	4	2	1	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	-30	-6	-4	-14	-4	-1	-4	-3	-4	-1	- -	-1	-6	-3	-6
- Non-Operating (Income) Loss	-1	1	-2	-2	-2	14	-1	- -	- -	- -	- -	2	1	11	- -
+ Interest Expense, Net	- -	- -	- -	- -	- -	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-1	1	-2	-2	-2	15	- -	- -	- -	- -	- -	2	1	11	- -
Pretax Income	-29	-6	-2	-12	-2	-15	-3	-3	-4	-1	- -	-3	-7	-14	-6
- Income Tax Expense (Benefit)	13	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	-1	1	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-42	-6	-2	-12	-2	-15	-3	-2	-4	-1	-1	-1	-8	-14	-6
- Net Extraordinary Losses (Gains)	- -	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-42	-9	-2	-12	-2	-15	-3	-2	-4	-1	-1	-1	-8	-14	-6
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-42	-9	-2	-12	-2	-15	-3	-2	-4	-1	-1	-1	-8	-14	-6
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-42	-9	-2	-12	-2	-15	-3	-2	-4	-1	-1	-1	-8	-14	-6
EBIT	-30	-6	-4	-14	-4	-1	-4	-3	-4	-1	- -	-1	-6	-3	-6
EBITDA	-27	-4	-3	-13	1	4	- -	- -	-3	- -	- -	- -	-5	-2	-5
EBITDA Margin (%)	-113.84	-16.2	-10.93	-39.2	0.82	5.85	-0.27	-0.5	-4.55	-0.62	0.4	-0.35	-6.44	-2.37	-10.1
EBITA	-30	-6	-4	-14	-4	-1	-2	-3	-4	- -	- -	-1	-6	-3	-6
Gross Margin (%)	49.16	47.17	50.84	48.41	46.76	44.55	41.44	37.76	36.98	37.84	37.64	37.09	32.83	34.34	30.13
Operating Margin (%)	-127.46	-23.26	-13.63	-42.42	-5.96	-1.42	-5.47	-4.62	-6.71	-2.07	-0.81	-1.23	-7.92	-4.18	-12.56
Profit Margin (%)	-180.29	-36.68	-7.97	-36.37	-3.25	-20.02	-4.99	-3.26	-7	-2.24	-1.01	-1.97	-9.82	-19.35	-12.29
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	3	2	1	1	5	5	2	3	1	- -	1	1	1	1	1
Basic Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	8	8	9	9
Basic EPS, GAAP	-6.31	-1.26	-0.34	-1.73	-0.33	-2.09	-0.46	-0.31	-0.62	-0.17	-0.08	-0.18	-0.91	-1.54	-0.7
Basic EPS from Cont Ops	-6.31	-0.93	-0.34	-1.73	-0.33	-2.09	-0.46	-0.31	-0.62	-0.17	-0.08	-0.18	-0.91	-1.54	-0.7
Diluted Weighted Avg Shares	7	7	7	7	7	7	7	7	7	7	7	8	8	9	9
Diluted EPS, GAAP	-6.31	-1.26	-0.34	-1.73	-0.33	-2.09	-0.46	-0.31	-0.62	-0.17	-0.08	-0.18	-0.91	-1.54	-0.7
Diluted EPS from Cont Ops	-6.31	-0.93	-0.34	-1.73	-0.33	-2.09	-0.46	-0.31	-0.62	-0.17	-0.08	-0.18	-0.91	-1.54	-0.7

Balance Sheet (USD)

API Chat

	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
Total Current Assets	62	60	57	49	49	20	29	24	25	26	27	31	26	20	15
+ Cash, Cash Equivalents & STI	53	52	50	38	27	6	12	7	13	12	14	13	7	4	1
+ Cash & Cash Equivalents	53	11	11	11	10	6	6	7	13	12	14	13	7	4	1
+ ST Investments	- -	41	39	27	17	- -	5	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	7	7	6	8	20	12	16	17	11	13	12	14	17	14	13
+ Accounts Receivable, Net	7	6	6	8	20	12	16	17	11	13	12	14	17	14	13
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	1	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	1	- -	- -
+ Other ST Assets	2	1	1	2	2	2	1	1	1	1	2	2	2	2	1
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	19	15	16	16	27	27	19	17	10	10	10	11	16	3	3
+ Property, Plant & Equip, Net	2	1	1	1	2	2	2	2	2	1	1	1	3	2	2
+ Property, Plant & Equip	4	4	4	4	5	6	6	7	7	8	9	9	11	8	8
- Accumulated Depreciation	3	3	3	3	4	4	4	5	6	7	7	8	9	6	6
+ LT Investments & Receivables	- -	- -	- -	- -	- -	13	7	6	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	13	7	6	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	17	14	15	16	26	11	11	9	8	8	8	10	13	1	1
+ Total Intangible Assets	17	14	15	15	25	11	10	8	8	8	8	8	12	1	- -
+ Goodwill	- -	- -	- -	13	13	6	8	8	8	8	8	8	11	- -	- -
+ Other Intangible Assets	17	14	15	1	12	5	3	- -	- -	- -	- -	- -	1	1	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	1	1	- -	- -	- -	- -	- -	- -	2	1	- -	- -
Total Assets	81	75	74	65	77	47	48	41	35	35	37	42	41	23	18
+ Payables & Accruals	4	4	4	6	11	4	8	2	1	3	4	4	6	4	6
+ Accounts Payable	1	1	1	1	2	1	1	1	1	1	2	2	3	2	2
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	2	2
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	3	4	3	4	9	3	7	1	- -	2	- -	2	1	1	2
+ ST Debt	1	1	1	1	2	- -	3	- -	- -	- -	- -	3	3	4	8
+ ST Borrowings	1	1	1	1	2	- -	3	- -	- -	- -	- -	3	3	4	8
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	- -	4	5	2	6	6	5	5	6	8	8	1
+ Deferred Revenue	- -	- -	- -	- -	4	- -	1	1	- -	1	1	2	2	1	1
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	1	5	1	5	5	4	4	4	6	7	1
Total Current Liabilities	5	5	5	6	17	10	12	8	7	7	9	14	16	16	15
+ LT Debt	3	3	3	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Finance Leases	3	3	3	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	- -	- -	- -	- -	2	4	2	1	1	1	1	1	4	1	1
+ Accrued Liabilities	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	1	1	1	- -	1
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	- -	1	3	2	1	- -	- -	- -	- -	3	1	1
Total Noncurrent Liabilities	3	3	3	2	4	4	2	1	1	1	1	1	4	1	1
Total Liabilities	8	9	8	9	21	13	14	9	7	8	9	15	21	17	16
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	177	177	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	157	158	160	171	173	176	- -	- -	177	177	178	182	184	185	186
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	157	158	160	171	173	176	- -	- -	177	177	178	182	184	185	186
- Treasury Stock	- -	- -	- -	- -	- -	4	4	4	4	4	4	4	4	4	4
+ Retained Earnings	-82	-91	-93	-114	-117	-132	-135	-137	-142	-143	-145	-146	-154	-168	-174
+ Other Equity	-2	- -	- -	- -	- -	-7	-4	-5	-4	-4	-4	-5	-5	-7	-7
Equity Before Minority Interest	73	67	66	57	56	34	34	32	28	27	27	27	21	6	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	73	67	66	57	56	34	34	32	28	27	27	27	21	6	- -
Total Liabilities & Equity	81	75	74	65	77	47	48	41	35	35	37	42	41	23	16
Shares Outstanding	7	7	7	7	7	7	7	7	7	7	8	9	9	9	9
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	3	3	3	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	-52	-10	-10	-10	-8	-6	-4	-7	-13	-12	-14	-10	-4	- -	7
Net Debt to Equity	-71	-15.22	-15.63	-18.47	-14.96	-17.71	-10.29	-21.4	-47.63	-45.08	-50.31	-35.49	-17.49	-1.61	- -
Tangible Common Equity Ratio	88.11	86.01	87.19	83.17	59.81	63.27	-402.85	-471.84	72.64	69.42	67.01	56.63	29.28	23.82	-1.86
Current Ratio	12.99	11.63	12.21	7.71	2.87	2.1	2.31	2.92	3.83	3.46	3.2	2.29	1.57	1.25	1
Cash Conversion Cycle	98.51	78.85	51.2	52.04	56.59	66.96	69.46	79.52	72.14	72.85	64.76	61.84	64.28	61.43	78.11

Cash Flow Statement (USD)

API Chat

	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y
+ Net Income	-42	-6	-2	-12	-2	- -	-3	- -	- -	-1	-2	-1	-8	-14	-6
+ Depreciation & Amortization	3	2	1	1	5	5	3	3	1	1	1	1	1	1	1
+ Non-Cash Items	34	3	1	5	1	- -	1	-2	-4	- -	1	1	4	11	1
+ Stock-Based Compensation	- -	- -	- -	- -	- -	2	1	- -	- -	- -	1	1	- -	- -	- -
+ Deferred Income Taxes	14	- -	- -	- -	-1	-1	- -	- -	- -	- -	- -	-1	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	14	- -	- -	- -	- -	- -	- -	2	11	- -
+ Other Non-Cash Adj	20	3	1	5	2	-15	- -	-2	-4	- -	- -	1	1	- -	1
+ Chg in Non-Cash Work Cap	5	1	- -	-3	-2	- -	- -	-2	4	-1	3	-5	- -	-1	- -
+ (Inc) Dec in Accts Receiv	2	- -	- -	-1	-3	6	-3	-1	5	-1	1	-2	1	1	2
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-3	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	-1	1	- -	- -	- -	- -	- -	-1	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-1	- -	- -	- -	- -	-2	1	-1	-1	- -	2	-1	-1	-2	-2
+ Inc (Dec) in Other	3	1	- -	- -	-1	-3	- -	- -	-1	- -	- -	1	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-1	-1	-1	-9	1	6	- -	-1	1	-1	2	-5	-3	-2	-4
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	-1	- -	-1	-1	-1	-1	- -	-1	-1	-1	-1	-1
+ Acq of Fixed Prod Assets	- -	- -	- -	-1	- -	-1	-1	-1	-1	- -	-1	-1	-1	-1	-1
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	1	1	- -	- -	-3	- -	- -	- -	- -	- -	2	- -	- -	-1
+ Increase in Capital Stock	- -	1	1	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	-3	- -	- -	- -	- -	- -	- -	- -	- -	-1
+ Net Change in LT Investment	- -	3	3	12	10	2	2	6	6	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	10	12	27	19	2	2	6	6	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	-7	-9	-16	-9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	-5	-3	- -	- -	- -	- -	- -	-2	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	-5	-3	- -	- -	- -	- -	- -	-2	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	-2	-2	-11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	- -	3	1	9	-1	-4	-2	5	5	- -	-1	-1	-3	-1	-1
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	- -	- -	- -	- -	- -	1	1	-3	- -	- -	- -	3	- -	1	4
+ Cash From Debt	- -	- -	- -	- -	- -	1	3	1	3	- -	- -	3	- -	1	4
+ Repayments of Debt	- -	- -	- -	- -	- -	- -	-2	-4	-3	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	- -	-1	-1	-1	-1	-2	-1	-1	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	- -	- -	- -	- -	-1	-3	1	-3	- -	- -	- -	5	-1	1	3
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	-3	1	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-1	2	- -	- -	-1	-1	-1	1	6	-1	2	- -	-6	-3	-3
EBITDA	-27	-4	-3	-13	1	4	- -	- -	-3	- -	- -	- -	-5	-2	-5
EBITDA Margin (%)	-113.84	-16.2	-10.93	-39.2	0.82	5.85	-0.27	-0.5	-4.55	-0.62	0.4	-0.35	-6.44	-2.37	-10.1
Free Cash Flow	-1	-1	-1	-9	1	5	- -	-2	1	-1	2	-6	-4	-3	-6
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	5	3	- -	- -	- -	- -	- -	2	- -	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	-1	-1	-1	-9	1	7	178	-4	-177	-1	2	-2	-4	-2	-2
Free Cash Flow per Basic Share	-0.16	-0.13	-0.19	-1.32	0.14	0.74	-0.03	-0.29	0.08	-0.17	0.21	-0.71	-0.44	-0.34	-0.64
Price/Free Cash Flow	-135.99	-157.97	-258.96	-6.94	50.77	1.93	14.48	-71.31	5.44	-26.94	7.61	-8.76	-11.31	-4.99	-0.45
Cash Flow to Net Income	0.02	0.08	0.34	0.72	-0.61	-0.42	-0.13	0.52	-0.29	0.76	-3.66	3.32	0.35	0.17	0.72
Capital Expenditures	- -	- -	- -	-1	- -	-1	-1	-1	-1	- -	-1	-1	-1	-1	-1