December 31,
2015
|
||||
ASSETS
|
||||
Current assets:
|
||||
Cash and cash equivalents
|
NIS | 8,502 | ||
Marketable securities
|
22,020 | |||
Trade account receivables, net
|
12,219 | |||
Inventories
|
21,555 | |||
Other accounts receivable
|
2,964 | |||
Total current assets
|
67,260 | |||
Property and equipment, net
|
5,085 | |||
Intangible assets and others, net
|
11,342 | |||
Long term deposit
|
50 | |||
Goodwill
|
5,720 | |||
Deferred taxes
|
1,879 | |||
Total long term assets
|
24,076 | |||
Total assets
|
NIS | 91,336 |
December 31,
2015
|
||||
LIABILITIES AND EQUITY
|
||||
Short term bank credit and current portion of long term bank loans
|
NIS
|
11,366 | ||
Trade accounts payable
|
15,208 | |||
Other accounts payable
|
5,386 | |||
Total current liabilities
|
31,960 | |||
Long term loans from banks
|
1,417 | |||
Finance lease
|
87 | |||
Accrued severance pay, net
|
204 | |||
A liability for Chief scientist
|
404 | |||
Total long term liabilities
|
2,112 | |||
Stockholders’ Equity:
|
||||
Common stock
|
2,132 | |||
Additional paid in capital
|
22,750 | |||
Capital reserve for IAS 19
|
(895 | ) | ||
Capital reserve for translation adjustments
|
2,238 | |||
Capital reserve for share-based payment transactions
|
55 | |||
Retained earnings
|
30,984 | |||
Total equity
|
57,264 | |||
Total Liabilities and equity
|
NIS
|
91,336 |
Year ended December 31,
|
||||
2015
|
||||
Revenues
|
NIS
|
56,628 | ||
Cost of revenues
|
39,885 | |||
Gross profit
|
16,743 | |||
Operating expenses:
|
||||
Research and development
|
7,682 | |||
Selling and marketing
|
4,575 | |||
General and administrative
|
10,349 | |||
Total operating expenses
|
22,606 | |||
Loss from operations
|
(5,863 | ) | ||
Finance expense, net
|
(412 | ) | ||
Loss before provision for income taxes
|
(6,275 | ) | ||
Provision for income taxes
|
770 | |||
Net loss
|
(5,505 | ) | ||
Transfer to a capital reserve for IAS 19
|
89 | |||
Adjustments resulting from the translation of financial statements of foreign operations
|
36 | |||
Net loss
|
NIS
|
(5,380 | ) | |
Loss per share Enertec:
|
||||
Basic
|
NIS
|
(0.292 | ) | |
Diluted
|
NIS
|
(0.292 | ) |
Share
capital
|
Share
premium
|
Capital
reserve for
share-based
payment
transactions
|
Retained earnings
|
Capital reserve for translation adjustments
|
Capital
reserve for
IAS 19
|
Total equity
|
||||||||||||||||||||||
Balance, January 1, 2013
|
1,985 | 17,549 | 3,327 | 30,367 | - | (1,509 | ) | 51,719 | ||||||||||||||||||||
Exercise of warrants
|
114 | 3,567 | (1,933 | ) | - | - | - | 1,748 | ||||||||||||||||||||
Dividend paid to non-controlling interest
|
- | - | - | (5,000 | ) | - | - | (5,000 | ) | |||||||||||||||||||
Dividends declared to non-controlling interest
|
- | - | - | (6,000 | ) | - | - | (6,000 | ) | |||||||||||||||||||
Comprehensive income
|
- | - | - | 18,174 | - | 170 | 18,344 | |||||||||||||||||||||
Cost of share-based payment
|
- | - | 28 | - | - | - | 28 | |||||||||||||||||||||
Balance, December 31, 2013
|
2,099 | 21,116 | 1,422 | 37,541 | - | (1,339 | ) | 60,839 | ||||||||||||||||||||
Exercise of warrants
|
33 | 1,634 | (1,376 | ) | - | - | - | 291 | ||||||||||||||||||||
Comprehensive loss
|
- | - | - | (1,052 | ) | 2,202 | 355 | 1,505 | ||||||||||||||||||||
Cost of share-based payment
|
- | - | 9 | - | - | - | 9 | |||||||||||||||||||||
Balance, December 31, 2014
|
2,132 | 22,750 | 55 | 36,489 | 2,202 | (984 | ) | 62,644 | ||||||||||||||||||||
Comprehensive loss
|
- | - | - | (5,505 | ) | 36 | 89 | (5,380 | ) | |||||||||||||||||||
Balance, December 31, 2015
|
2,132 | 22,750 | 55 | 30,984 | 2,238 | (895 | ) | 57,264 |
Year ended December 31,
|
||||
2015
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||
Net loss
|
NIS
|
(5,505 | ) | |
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||
Depreciation and amortization
|
4,722 | |||
Financial expenses, net accrual-basis financial
|
412 | |||
A liability for Chief scientist
|
(203 | ) | ||
A capital gain from sale of fixed assets
|
33 | |||
Income taxes in the income statement
|
(770 | ) | ||
Decrease in accrued severance pay, net
|
70 | |||
4,264 | ||||
Changes in operating assets and liabilities (net of impact of acquisition):
|
||||
Increase in trade account receivables
|
5,368 | |||
Increase in other account receivables
|
(1,177 | ) | ||
Increase in inventories
|
(1,101 | ) | ||
Decrease in trade account payables
|
(3,555 | ) | ||
Decrease in other account payables
|
97 | |||
NIS
|
(368 | ) | ||
Cash paid and received during the year for
|
||||
Interest paid
|
(454 | ) | ||
Interest received
|
916 | |||
Taxes paid
|
(338 | ) | ||
124 | ||||
Net cash used in operating activities
|
NIS
|
(1,485 | ) |
Year ended December 31,
|
||||
2015
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||
Purchase of property and equipment
|
(888 | ) | ||
Purchase of intangible assets
|
(12 | ) | ||
Proceeds from sale of fixed assets
|
29 | |||
Sales of marketable securities
|
2,278 | |||
Leasing deposit and prepaid expenses
|
61 | |||
Granting of loans to employees
|
(154 | ) | ||
Net cash provided by investing activities
|
NIS
|
1,314 | ||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||
Repayment of banks loan
|
(21,862 | ) | ||
Receipt of bank loan
|
19,030 | |||
Repayment liability in respect of financial leasing
|
(165 | ) | ||
Receipt of investment grants, net
|
567 | |||
Net cash used in financing activities
|
NIS
|
(2,430 | ) | |
TRANSLATION ADJUSTMENT OF CASH AND CASH EQUIVALENTS
|
(67 | ) | ||
NET CASH DECREASE IN CASH AND CASH EQUIVALENTS
|
(2,668 | ) | ||
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
|
11,170 | |||
CASH AND CASH EQUIVALENTS AT END OF PERIOD
|
NIS
|
8,502 |
Inventory
|
NIS
|
(4,688 | ) | |
Property and equipment
|
(223 | ) | ||
Intangible assets
|
(14,711 | ) | ||
Goodwill
|
(5,096 | ) | ||
Total
|
NIS
|
(24,718 | ) |