SPAR Group Inc
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Let's analyse SPAR Group Inc together

Penke I guess you are interested in SPAR Group Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of SPAR Group Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of SPAR Group Inc (30 sec.)

What can you expect buying and holding a share of SPAR Group Inc? (30 sec.)

How much money do you get?

$0.02

When do you have the money?

1 year

How often do you get paid?

28.2%

What is your share worth?

Current worth

$1.72

Expected worth in 1 year

$1.73

How sure are you?

61.5%

+ What do you gain per year?

Total Gains per Share

$0.03

Return On Investment

1.7%

For what price can you sell your share?

Current Price per Share

$1.74

Expected price per share

$1.4 - $1.97

How sure are you?

50%

1. Valuation of SPAR Group Inc (5 min.)

Live pricePrice per Share (EOD)

$1.74

Book Value per Share

$1.72

Intrinsic Value Per Share

$-50.75 - $5.44

Total Value Per Share

$-49.02 - $7.16

My calculation of the intrinsic value of SPAR Group Inc is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.02) 3Y: ($-0.01) TTM: ($0.04)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.01) 3Y: ($-0.09) TTM: ($0.02)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-0.89	$0.15	$-1.47 - $0.19
2	$-3.05	$0.39	$-2.92 - $0.30
3	$-6.33	$0.74	$-4.37 - $0.42
4	$-10.59	$1.18	$-5.82 - $0.53
5	$-15.72	$1.70	$-7.26 - $0.64
6	$-21.60	$2.31	$-8.71 - $0.76
7	$-28.13	$2.99	$-10.16 - $0.87
8	$-35.22	$3.74	$-11.60 - $0.98
9	$-42.78	$4.56	$-13.05 - $1.10
10	$-50.75	$5.44	$-14.50 - $1.21

2. Growth of SPAR Group Inc (5 min.)

Is SPAR Group Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$40.2m	$39.4m	$433.8k	1.1%

How much money is SPAR Group Inc making?

	Current year	Previous year	Grow	Grow %
Making money	$1m	$984.7k	$26.9k	2.7%
Net Profit Margin	1.5%	1.5%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of SPAR Group Inc (5 min.)

4. Comparing to competitors in the Specialty Business Services industry (5 min.)

Industry Rankings (Specialty Business Services)

Richest
#126 / 210

Most Revenue
#107 / 210

Most Profit
#125 / 210

Most Efficient
#124 / 210

What can you expect buying and holding a share of SPAR Group Inc? (5 min.)

Welcome investor! SPAR Group Inc's management wants to use your money to grow the business. In return you get a share of SPAR Group Inc.

What can you expect buying and holding a share of SPAR Group Inc?

First you should know what it really means to hold a share of SPAR Group Inc. And how you can make/lose money.

Speculation

The Price per Share of SPAR Group Inc is $1.74. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of SPAR Group Inc.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in SPAR Group Inc, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $1.72. Based on the TTM, the Book Value Change Per Share is $0.00 per quarter. Based on the YOY, the Book Value Change Per Share is $0.03 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.00 per quarter.

Based on historical numbers we can estimate the returns while holding a share of SPAR Group Inc.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.09	5.3%	0.04	2.5%	0.00	0.2%	0.02	1.0%	0.01	0.6%
Usd Book Value Change Per Share	0.02	1.2%	0.00	0.2%	0.03	1.5%	0.03	2.0%	0.02	1.4%
Usd Dividend Per Share	0.01	0.7%	0.00	0.2%	0.00	0.2%	0.00	0.1%	0.01	0.3%
Usd Total Gains Per Share	0.03	1.9%	0.01	0.4%	0.03	1.7%	0.04	2.1%	0.03	1.7%
Usd Price Per Share	0.97	-	1.06	-	1.31	-	1.15	-	1.14	-
Price to Earnings Ratio	2.65	-	11.97	-	-64.02	-	-10.65	-	-1.09	-
Price-to-Total Gains Ratio	29.06	-	23.12	-	-100.62	-	-28.19	-	-26.44	-
Price to Book Ratio	0.56	-	0.62	-	0.77	-	0.72	-	0.93	-
Price-to-Total Gains Ratio	29.06	-	23.12	-	-100.62	-	-28.19	-	-26.44	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	1.74
Number of shares	574

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.00	0.00
Usd Book Value Change Per Share	0.00	0.03
Usd Total Gains Per Share	0.01	0.04
Gains per Quarter (574 shares)	4.30	20.60
Gains per Year (574 shares)	17.19	82.39

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	10	7	7	3	79	72
2	20	14	24	6	158	154
3	30	22	41	9	238	236
4	40	29	58	13	317	318
5	50	36	75	16	396	400
6	60	43	92	19	475	482
7	70	51	109	22	555	564
8	80	58	126	25	634	646
9	90	65	143	28	713	728
10	100	72	160	31	792	810

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	0.0	0.0	100.0%	8.0	3.0	0.0	72.7%	14.0	5.0	0.0	73.7%	26.0	13.0	0.0	66.7%	75.0	36.0	0.0	67.6%
Book Value Change Per Share	2.0	1.0	0.0	66.7%	6.0	4.0	1.0	54.5%	12.0	6.0	1.0	63.2%	21.0	13.0	5.0	53.8%	65.0	33.0	13.0	58.6%
Dividend per Share	1.0	0.0	2.0	33.3%	2.0	0.0	9.0	18.2%	2.0	0.0	17.0	10.5%	11.0	0.0	28.0	28.2%	12.0	0.0	99.0	10.8%
Total Gains per Share	2.0	1.0	0.0	66.7%	6.0	4.0	1.0	54.5%	12.0	6.0	1.0	63.2%	24.0	12.0	3.0	61.5%	69.0	32.0	10.0	62.2%

Fundamentals of SPAR Group Inc

About SPAR Group Inc

https://www.sparinc.com
Specialty Business Services
1437
1910 Opdyke Court, Auburn Hills, MI, United States, 48326
Google Maps Bing Maps

SPAR Group, Inc., together with its subsidiaries, provides merchandising and brand marketing services worldwide. The company offers syndicated and dedicated merchandising services at the retail store level for retailers, manufacturers, and distributors; and project services, such as new product launches, special seasonal or promotional merchandising, product support, product recalls, and in-store product demonstrations and in-store product sampling, as well as kiosk product replenishment, inventory control, new and existing store resets, re-merchandising, remodels and category implementations, and under annual or stand-alone project contracts or agreements. It also provides retailer specific services consisting of in-store services, including new store openings, new store sets and existing store resets and remodels, and under annual or stand-alone project contracts or agreements. In addition, the company assembles furniture, grills, and other products in stores, homes, and offices; performs ongoing routed coverage at retail locations; and offers in-home and in-office assembly to customers who purchase their product from retailers. Further, it provides staff and distribution center experienced resources to retailers and consumer goods manufacturers; offers retail compliance and price audit services initiated by retailers and manufacturers and focuses on validating store promotions, auditing compliance with branding and signage, verifying product placement and displays, collecting inventory levels, and out-of-stock status; and competitive price intelligence gathering for retailers, as well as ensuring price accuracy and consistency within the retail itself. The company serves grocery discount, dollar, convenience, cash and carry, home improvement, consumer electronics, automotive, and office supply stores; pharmacies; and mass merchandisers. SPAR Group, Inc. was founded in 1967 and is headquartered in Auburn Hills, Michigan.

Fundamental data was last updated by Penke on 2024-04-12 18:11:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is able to pay all its short-term debts.
The company is able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is just not able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of SPAR Group Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit SPAR Group Inc earns for each $1 of revenue.

Above 10% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
A Net Profit Margin of 3.3% means that $0.03 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of SPAR Group Inc:

The MRQ is 3.3%. The company is making a profit. +1
The TTM is 1.5%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	3.3%	TTM	1.5%	+1.7%
TTM	1.5%	YOY	1.5%	+0.1%
TTM	1.5%	5Y	0.3%	+1.2%
5Y	0.3%	10Y	0.6%	-0.2%

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	3.3%	2.9%	+0.4%
TTM	1.5%	2.9%	-1.4%
YOY	1.5%	3.3%	-1.8%
5Y	0.3%	2.1%	-1.8%
10Y	0.6%	3.2%	-2.6%

Measures how much net profit SPAR Group Inc earns for each $1 of revenue.

Revenue is the amount of profit SPAR Group Inc generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit SPAR Group Inc earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be used to compare companies within the Specialty Business Services industry.

You typically want a high profit margin. This means that for each $1 in sales, SPAR Group Inc makes more profit. This shows the investor how efficiently SPAR Group Inc is operating in general and compared to other companies in the same industry. SPAR Group Inc operates in the Specialty Business Services industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of SPAR Group Inc. If profit margins remain low (compared to the Specialty Business Services industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of SPAR Group Inc is 0.03. This means that SPAR Group Inc earned $0.03 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Specialty Business Services industry is 2.9%.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare SPAR Group Inc with other companies in the same industry (Specialty Business Services).
Net profit margin should rise over the years.
Can be influenced when SPAR Group Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of SPAR Group Inc is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of SPAR Group Inc

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ SPAR Group Inc = 2,137
Total revenue MRQ SPAR Group Inc = 65,099
$2,137 / $65,099 = 0.03 or 3.3%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient SPAR Group Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
2.3% Return on Assets means that SPAR Group Inc generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of SPAR Group Inc:

The MRQ is 2.3%. Using its assets, the company is less efficient in making profit.
The TTM is 1.1%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	2.3%	TTM	1.1%	+1.2%
TTM	1.1%	YOY	1.0%	+0.1%
TTM	1.1%	5Y	0.3%	+0.8%
5Y	0.3%	10Y	0.4%	-0.1%

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	2.3%	1.0%	+1.3%
TTM	1.1%	1.0%	+0.1%
YOY	1.0%	1.4%	-0.4%
5Y	0.3%	1.0%	-0.7%
10Y	0.4%	1.4%	-1.0%

Shows how efficient SPAR Group Inc is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively SPAR Group Inc is using its resources to generate profit. If the return on assets (2.3%) from SPAR Group Inc are higher than the Specialty Business Services mean (1.0%) that means SPAR Group Inc is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of SPAR Group Inc is 2.3%. This means the company generated $0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Specialty Business Services industry is 1.0%.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example SPAR Group Inc

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from SPAR Group Inc = 2,137
Total assets MRQ (balance sheet) from SPAR Group Inc = 91,164
2,137 / 91,164 = 0.02 or 2.3%

ROA is an important ratio as it will tell you how effectively SPAR Group Inc is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient SPAR Group Inc is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
7.6% Return on Equity means SPAR Group Inc generated $0.08 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of SPAR Group Inc:

The MRQ is 7.6%. Using its investors money, the company is less efficient in making profit.
The TTM is 3.7%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	7.6%	TTM	3.7%	+3.8%
TTM	3.7%	YOY	4.1%	-0.3%
TTM	3.7%	5Y	0.8%	+3.0%
5Y	0.8%	10Y	0.9%	-0.1%

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	7.6%	2.5%	+5.1%
TTM	3.7%	2.8%	+0.9%
YOY	4.1%	3.9%	+0.2%
5Y	0.8%	2.2%	-1.4%
10Y	0.9%	3.0%	-2.1%

Shows how efficient SPAR Group Inc is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Specialty Business Services industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of SPAR Group Inc is 7.6%. This means SPAR Group Inc generated $0.08 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Specialty Business Services industry is 2.5%.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if SPAR Group Inc existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of SPAR Group Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) SPAR Group Inc = 2,137
Shareholders equity (balance sheet) MRQ SPAR Group Inc = 28,226
2,137 / 28,226 = 0.08 or 7.6%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of SPAR Group Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient SPAR Group Inc is operating .

Measures how much profit SPAR Group Inc makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
An Operating Margin of 4.8% means the company generated $0.05 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of SPAR Group Inc:

The MRQ is 4.8%. The company is operating less efficient.
The TTM is 3.6%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	4.8%	TTM	3.6%	+1.2%
TTM	3.6%	YOY	3.6%	+0.0%
TTM	3.6%	5Y	2.9%	+0.7%
5Y	2.9%	10Y	2.8%	+0.1%

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	4.8%	6.5%	-1.7%
TTM	3.6%	5.0%	-1.4%
YOY	3.6%	5.0%	-1.4%
5Y	2.9%	4.3%	-1.4%
10Y	2.8%	5.3%	-2.5%

Measures how efficient SPAR Group Inc is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit SPAR Group Inc is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of SPAR Group Inc is 4.8%. This means that SPAR Group Inc earned $0.05 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Specialty Business Services industry is 6.5%.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of SPAR Group Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ SPAR Group Inc = 3,118
Total revenue MRQ SPAR Group Inc = 65,099
$3,118 / $65,099 = 0.05 or 4.8%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient SPAR Group Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to Specialty Business Services industry mean).
An Operation Ratio of 0.95 means that the operating costs are $0.95 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of SPAR Group Inc:

The MRQ is 0.952. The company is less efficient in keeping operating costs low.
The TTM is 0.966. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.952	TTM	0.966	-0.014
TTM	0.966	YOY	1.165	-0.198
TTM	0.966	5Y	1.005	-0.039
5Y	1.005	10Y	0.990	+0.016

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	0.952	1.079	-0.127
TTM	0.966	1.097	-0.131
YOY	1.165	1.022	+0.143
5Y	1.005	1.069	-0.064
10Y	0.990	1.045	-0.055

Measures how efficient SPAR Group Inc is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of SPAR Group Inc is 95.2%. This means that SPAR Group Inc earned $0.95 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Specialty Business Services industry is 1.08.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example SPAR Group Inc

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(50,653 +11,328) \ 65,099 = 0.95

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of SPAR Group Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if SPAR Group Inc is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Specialty Business Services industry mean).
A Current Ratio of 1.57 means the company has $1.57 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of SPAR Group Inc:

The MRQ is 1.567. The company is able to pay all its short-term debts. +1
The TTM is 1.541. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	1.567	TTM	1.541	+0.026
TTM	1.541	YOY	1.449	+0.092
TTM	1.541	5Y	1.447	+0.094
5Y	1.447	10Y	1.580	-0.132

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	1.567	1.417	+0.150
TTM	1.541	1.398	+0.143
YOY	1.449	1.373	+0.076
5Y	1.447	1.413	+0.034
10Y	1.580	1.443	+0.137

Measures if SPAR Group Inc is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Specialty Business Services industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for SPAR Group Inc if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of SPAR Group Inc is 1.57. This means SPAR Group Inc has $1.57 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Specialty Business Services industry is 1.42.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example SPAR Group Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
76,109 \ 48,565) = 1.57

The current ratio measures if SPAR Group Inc is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if SPAR Group Inc is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then SPAR Group Inc does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate SPAR Group Inc is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if SPAR Group Inc is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
A Quick Ratio of 1.45 means the company can pay off $1.45 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of SPAR Group Inc:

The MRQ is 1.452. The company is able to pay all its short-term debts with the most liquid assets. +1
The TTM is 1.432. The company is able to pay all its short-term debts with the most liquid assets. +1

Trends

Current period		Compared to		+/-
MRQ	1.452	TTM	1.432	+0.019
TTM	1.432	YOY	1.276	+0.156
TTM	1.432	5Y	1.349	+0.083
5Y	1.349	10Y	1.497	-0.148

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	1.452	0.872	+0.580
TTM	1.432	0.877	+0.555
YOY	1.276	0.918	+0.358
5Y	1.349	0.999	+0.350
10Y	1.497	1.028	+0.469

Measures if SPAR Group Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast SPAR Group Inc can pay off its short term debts. This shows if SPAR Group Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of SPAR Group Inc is 1.45. This means that SPAR Group Inc can pay off $1.45 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Business Services industry is 0.87.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example SPAR Group Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio SPAR Group Inc: (10,719 + 0 +59,776) / 48,565 = 1.45

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of SPAR Group Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of SPAR Group Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare SPAR Group Inc to Specialty Business Services industry mean.
A Debt to Asset Ratio of 0.56 means that SPAR Group Inc assets are financed with 55.9% credit (debt) and the remaining percentage (100% - 55.9%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of SPAR Group Inc:

The MRQ is 0.559. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.570. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.559	TTM	0.570	-0.012
TTM	0.570	YOY	0.600	-0.030
TTM	0.570	5Y	0.594	-0.024
5Y	0.594	10Y	0.563	+0.032

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	0.559	0.572	-0.013
TTM	0.570	0.568	+0.002
YOY	0.600	0.571	+0.029
5Y	0.594	0.561	+0.033
10Y	0.563	0.559	+0.004

Measures how much % of SPAR Group Inc assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake SPAR Group Inc than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare SPAR Group Inc to Specialty Business Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of SPAR Group Inc is 0.56. This means means that SPAR Group Inc is financed with 55.9% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Specialty Business Services industry is 141.7%.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why SPAR Group Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example SPAR Group Inc

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
50,918 \ 91,164 = 55.9% or 0.56.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if SPAR Group Inc is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare SPAR Group Inc to the Specialty Business Services industry mean.
A Debt to Equity ratio of 180.4% means that company has $1.80 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of SPAR Group Inc:

The MRQ is 1.804. The company is just able to pay all its debts with equity.
The TTM is 2.068. The company is just not able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	1.804	TTM	2.068	-0.264
TTM	2.068	YOY	2.508	-0.440
TTM	2.068	5Y	2.468	-0.400
5Y	2.468	10Y	2.028	+0.440

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
MRQ	1.804	1.198	+0.606
TTM	2.068	1.234	+0.834
YOY	2.508	1.288	+1.220
5Y	2.468	1.290	+1.178
10Y	2.028	1.291	+0.737

Measures if SPAR Group Inc is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of SPAR Group Inc is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of SPAR Group Inc is 1.80. This means that SPAR Group Inc can pay off $1.80 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Business Services industry is 1.20.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example SPAR Group Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
50,918 \ 28,226 = 1.80 or 180.4%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of SPAR Group Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings SPAR Group Inc generates.

Above 15 is considered overpriced but always compare SPAR Group Inc to the Specialty Business Services industry mean.
A PE ratio of 2.65 means the investor is paying $2.65 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of SPAR Group Inc:

The EOD is 4.758. Based on the earnings, the company is cheap. +2
The MRQ is 2.652. Based on the earnings, the company is cheap. +2
The TTM is 11.971. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	4.758	MRQ	2.652	+2.107
MRQ	2.652	TTM	11.971	-9.320
TTM	11.971	YOY	-64.020	+75.992
TTM	11.971	5Y	-10.655	+22.626
5Y	-10.655	10Y	-1.086	-9.569

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
EOD	4.758	11.235	-6.477
MRQ	2.652	11.529	-8.877
TTM	11.971	10.938	+1.033
YOY	-64.020	13.087	-77.107
5Y	-10.655	15.144	-25.799
10Y	-1.086	14.339	-15.425

Measures how much money you pay for each share for every $1 in earnings SPAR Group Inc generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare SPAR Group Inc to the Specialty Business Services industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of SPAR Group Inc is 2.65. This means the investor is paying $2.65 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Business Services industry is 11.53.
What is the trend?
The trend is important because it shows you how SPAR Group Inc is performing over time. The most recent quarter might be important if SPAR Group Inc released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for SPAR Group Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example SPAR Group Inc

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 23,376 = EPS
PE ratio MRQ = 2.65

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of SPAR Group Inc:

The EOD is 2.025. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 1.128. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 0.748. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	2.025	MRQ	1.128	+0.896
MRQ	1.128	TTM	0.748	+0.380
TTM	0.748	YOY	-6.593	+7.341
TTM	0.748	5Y	-1.219	+1.967
5Y	-1.219	10Y	-10.173	+8.954

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
EOD	2.025	4.815	-2.790
MRQ	1.128	4.808	-3.680
TTM	0.748	3.461	-2.713
YOY	-6.593	5.823	-12.416
5Y	-1.219	3.912	-5.131
10Y	-10.173	5.136	-15.309

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of SPAR Group Inc is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Specialty Business Services industry mean).
A PB ratio of 0.56 means the investor is paying $0.56 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of SPAR Group Inc:

The EOD is 1.011. Based on the equity, the company is underpriced. +1
The MRQ is 0.563. Based on the equity, the company is cheap. +2
The TTM is 0.625. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	1.011	MRQ	0.563	+0.447
MRQ	0.563	TTM	0.625	-0.061
TTM	0.625	YOY	0.770	-0.145
TTM	0.625	5Y	0.724	-0.100
5Y	0.724	10Y	0.926	-0.202

Compared to industry (Specialty Business Services)

Period	Company	Industry (mean)	+/-
EOD	1.011	1.695	-0.684
MRQ	0.563	1.909	-1.346
TTM	0.625	1.874	-1.249
YOY	0.770	1.956	-1.186
5Y	0.724	2.025	-1.301
10Y	0.926	2.202	-1.276

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of SPAR Group Inc.

3.1. Institutions holding SPAR Group Inc

Institutions are holding 9.574% of the shares of SPAR Group Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Nantahala Capital Management, LLC	7.5659	0.0531	1758378	879189	100
2023-12-31	RBF LLC	3.847	0.0546	894090	0	0
2023-12-31	Geode Capital Management, LLC	0.5478	0	127303	61686	94.0092
2023-12-31	Vanguard Group Inc	0.519	0	120632	124	0.1029
2023-12-31	Bridgeway Capital Management, LLC	0.4247	0.0021	98700	-21500	-17.8869
2023-09-30	Citadel Advisors Llc	0.1778	0	41333	20303	96.543
2023-12-31	Renaissance Technologies Corp	0.1678	0.0001	39000	1800	4.8387
2023-12-31	Koss-Olinger Consulting, LLC	0.0697	0.0016	16209	-72779	-81.7852
2023-12-31	Morgan Stanley - Brokerage Accounts	0.0543	0	12620	12030	2038.9831
2023-12-31	Tower Research Capital LLC	0.0246	0.0001	5713	347	6.4666
2023-12-31	BlackRock Inc	0.0046	0	1079	0	0
2023-12-31	Wells Fargo & Co	0.0003	0	80	4	5.2632
2023-12-31	JPMorgan Chase & Co	0.0001	0	14	1	7.6923
2023-12-31	Bank of America Corp	0	0	6	6	0
2023-12-31	Susquehanna International Group, LLP	0	0	0	-28179	-100
Total		13.4036	0.1116	3115157	+853032	+27.4%

3.2. Funds holding SPAR Group Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	0.4982	0.0001	120632	0	0
2024-02-29	Fidelity Extended Market Index	0.4879	0.0003	118154	-572	-0.4818
2023-12-31	Bridgeway Ultra-Small Company	0.4076	0.115	98700	-21500	-17.8869
2024-02-29	Vanguard Total Stock Mkt Idx Inv	0.4076	0	98700	98700	0
2023-12-31	Northern Trust Extended Eq Market Idx	0.0342	0.0001	8284	0	0
2023-12-31	NT Ext Equity Mkt Idx Fd - L	0.0342	0.0001	8284	0	0
2024-02-29	Fidelity Series Total Market Index	0.0233	0	5651	0	0
2023-12-31	SSgA U.S. Extended Market Index Class I	0.014	0.0001	3400	0	0
2024-03-31	State St US Extended Mkt Indx NL Cl C	0.014	0.0002	3400	0	0
2024-02-29	Spartan Extended Market Index Pool E	0.0082	0.0001	1974	572	40.7989
2024-02-29	Spartan Total Market Index Pool E	0.0059	0	1432	0	0
2023-12-31	SSgA U.S. Total Market Index Strategy	0.0041	0	981	-23	-2.2908
2024-03-31	BlackRock U.S. Equity Market F	0.0037	0	904	9	1.0056
2023-12-31	NT US Market Cap Idx Fd - L	0.0017	0	419	0	0
2023-12-31	Northern Trust Wilshire 5000	0.0017	0	419	0	0
2024-02-29	Fidelity U.S. Equity Index Ins Trust	0.0004	0	92	92	0
2023-12-31	NT Ext Equity Mkt Idx Fd - NL	0.0004	0	87	0	0
2023-12-31	NT Ext Equity Mkt Idx Fd - DC - NL - T2	0.0003	0	70	0	0
2023-12-31	NT Ext Eq Mkt Indx Fd DC Lending Tier 5	0	0	3	0	0
Total		1.9474	0.116	471586	+77278	+16.4%

3.3. Insider Transactions

Insiders are holding 62.264% of the shares of SPAR Group Inc.

Date	Owner	Type	Amount	Price
2024-04-01	Robert G/ Brown	SELL	50000	1.35
2024-04-01	Spar Business Services Inc	SELL	150000	1.38
2024-03-18	Spar Business Services Inc	SELL	443	1.03
2024-03-11	Robert G/ Brown	SELL	500	1.02

4. Summary

4.1. Key Performance Indicators

The key performance indicators of SPAR Group Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.020	0.003	+546%	0.026	-23%	0.035	-41%	0.024	-14%
Book Value Per Share	-	-	1.722	1.705	+1%	1.696	+2%	1.571	+10%	1.298	+33%
Current Ratio	-	-	1.567	1.541	+2%	1.449	+8%	1.447	+8%	1.580	-1%
Debt To Asset Ratio	-	-	0.559	0.570	-2%	0.600	-7%	0.594	-6%	0.563	-1%
Debt To Equity Ratio	-	-	1.804	2.068	-13%	2.508	-28%	2.468	-27%	2.028	-11%
Dividend Per Share	-	-	0.013	0.004	+200%	0.003	+298%	0.001	+848%	0.006	+116%
Eps	-	-	0.091	0.043	+111%	0.004	+2196%	0.017	+442%	0.010	+787%
Free Cash Flow Per Share	-	-	0.215	0.043	+405%	-0.052	+124%	0.035	+506%	0.019	+1011%
Free Cash Flow To Equity Per Share	-	-	0.150	0.008	+1676%	-0.128	+185%	-0.003	+102%	0.006	+2490%
Gross Profit Margin	-	-	1.000	1.000	0%	-1.750	+275%	0.421	+138%	0.718	+39%
Intrinsic Value_10Y_max	-	-	5.441	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-50.745	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	0.145	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-0.892	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	0.741	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-6.329	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	1.705	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-15.720	-	-	-	-	-	-	-	-
Market Cap	40439340.000	+44%	22665369.600	24884238.400	-9%	30341760.000	-25%	26650359.379	-15%	26596000.485	-15%
Net Profit Margin	-	-	0.033	0.015	+112%	0.015	+123%	0.003	+842%	0.006	+469%
Operating Margin	-	-	0.048	0.036	+34%	0.036	+34%	0.029	+64%	0.028	+70%
Operating Ratio	-	-	0.952	0.966	-1%	1.165	-18%	1.005	-5%	0.990	-4%
Pb Ratio	1.011	+44%	0.563	0.625	-10%	0.770	-27%	0.724	-22%	0.926	-39%
Pe Ratio	4.758	+44%	2.652	11.971	-78%	-64.020	+2514%	-10.655	+502%	-1.086	+141%
Price Per Share	1.740	+44%	0.970	1.064	-9%	1.305	-26%	1.146	-15%	1.144	-15%
Price To Free Cash Flow Ratio	2.025	+44%	1.128	0.748	+51%	-6.593	+684%	-1.219	+208%	-10.173	+1002%
Price To Total Gains Ratio	52.146	+44%	29.058	23.124	+26%	-100.617	+446%	-28.190	+197%	-26.438	+191%
Quick Ratio	-	-	1.452	1.432	+1%	1.276	+14%	1.349	+8%	1.497	-3%
Return On Assets	-	-	0.023	0.011	+113%	0.010	+136%	0.003	+781%	0.004	+480%
Return On Equity	-	-	0.076	0.037	+102%	0.041	+85%	0.008	+853%	0.009	+789%
Total Gains Per Share	-	-	0.033	0.007	+346%	0.030	+13%	0.036	-7%	0.030	+12%
Usd Book Value	-	-	40246000.000	39864333.333	+1%	39430500.000	+2%	36558684.211	+10%	30177846.154	+33%
Usd Book Value Change Per Share	-	-	0.020	0.003	+546%	0.026	-23%	0.035	-41%	0.024	-14%
Usd Book Value Per Share	-	-	1.722	1.705	+1%	1.696	+2%	1.571	+10%	1.298	+33%
Usd Dividend Per Share	-	-	0.013	0.004	+200%	0.003	+298%	0.001	+848%	0.006	+116%
Usd Eps	-	-	0.091	0.043	+111%	0.004	+2196%	0.017	+442%	0.010	+787%
Usd Free Cash Flow	-	-	5022000.000	995333.333	+405%	-1201750.000	+124%	824421.053	+509%	449948.718	+1016%
Usd Free Cash Flow Per Share	-	-	0.215	0.043	+405%	-0.052	+124%	0.035	+506%	0.019	+1011%
Usd Free Cash Flow To Equity Per Share	-	-	0.150	0.008	+1676%	-0.128	+185%	-0.003	+102%	0.006	+2490%
Usd Market Cap	40439340.000	+44%	22665369.600	24884238.400	-9%	30341760.000	-25%	26650359.379	-15%	26596000.485	-15%
Usd Price Per Share	1.740	+44%	0.970	1.064	-9%	1.305	-26%	1.146	-15%	1.144	-15%
Usd Profit	-	-	2137000.000	1011666.667	+111%	984750.000	+117%	266105.263	+703%	216512.821	+887%
Usd Revenue	-	-	65099000.000	66122666.667	-2%	66663500.000	-2%	63510631.579	+3%	51916512.821	+25%
Usd Total Gains Per Share	-	-	0.033	0.007	+346%	0.030	+13%	0.036	-7%	0.030	+12%
	EOD	+4 -4	MRQ	TTM	+30 -5	YOY	+28 -8	5Y	+27 -9	10Y	+27 -9

4.2. Fundamental Score

Let's check the fundamental score of SPAR Group Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	4.758
Price to Book Ratio (EOD)	Between	0-1	1.011
Net Profit Margin (MRQ)	Greater than	0	0.033
Operating Margin (MRQ)	Greater than	0	0.048
Quick Ratio (MRQ)	Greater than	1	1.452
Current Ratio (MRQ)	Greater than	1	1.567
Debt to Asset Ratio (MRQ)	Less than	1	0.559
Debt to Equity Ratio (MRQ)	Less than	1	1.804
Return on Equity (MRQ)	Greater than	0.15	0.076
Return on Assets (MRQ)	Greater than	0.05	0.023
Total			6/10 (60.0%)

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4.3. Technical Score

Let's check the technical score of SPAR Group Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	1.770
Total			1/1 (100.0%)

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Latest Balance Sheet

Balance Sheet of 2024-03-31. All numbers in thousands.

Summary

Total Assets	91,164
Total Liabilities	50,918
Total Stockholder Equity	28,226

	As reported
Total Liabilities	50,918
Total Stockholder Equity	+ 28,226
Total Assets	= 91,164

Assets

Total Assets	91,164
Total Current Assets	76,109
Long-term Assets	15,055

Total Current Assets

Total Current Assets (as reported)	76,109
Cash And Cash Equivalents	10,719
Net Receivables	59,776
Other Current Assets	5,614
Total Current Assets (calculated)	76,109
+/-	0

Long-term Assets

Long-term Assets (as reported)	15,055
Property Plant Equipment	5,194
Goodwill	1,382
Intangible Assets	1,180
Long-term Assets Other	1,729
Long-term Assets (calculated)	9,485
+/-	5,570

Liabilities & Shareholders' Equity

Total Current Liabilities	48,565
Long-term Liabilities	2,353
Total Stockholder Equity	28,226

Total Current Liabilities

Total Current Liabilities (as reported)	48,565
Short-term Debt	21,898
Accounts payable	9,488
Other Current Liabilities	15,274
Total Current Liabilities (calculated)	46,660
+/-	1,905

Long-term Liabilities

Long-term Liabilities (as reported)	2,353
Long-term Liabilities (calculated)	0
+/-	2,353

Total Stockholder Equity

Total Stockholder Equity (as reported)	28,226
Common Stock	232
Retained Earnings	10,609
Accumulated Other Comprehensive Income	-3,341
Other Stockholders Equity	20,719
Total Stockholder Equity (calculated)	28,219
+/-	7

Other

Cash and Short Term Investments	10,719
Common Stock Shares Outstanding	23,376
Current Deferred Revenue	1,905
Liabilities and Stockholders Equity	91,164
Net Debt	12,649
Net Working Capital	27,544
Short Long Term Debt Total	23,368

Balance Sheet

All numbers in thousands.

Trend

2024-03-31

2023-09-30

2023-06-30

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2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-09-30

1999-06-30

1999-03-31

1998-12-31

1998-09-30

1998-06-30

1998-03-31

1997-12-31

1997-09-30

1997-06-30

1997-03-31

1996-12-31

1996-09-30

1996-06-30

1996-03-31

1995-12-31

1995-09-30

1995-06-30

1995-03-31

> Total Assets

0
0
0
16,100
40,500
39,900
42,800
47,700
47,300
43,400
40,400
36,500
32,300
31,100
28,700
26,100
22,200
18,500
63,500
63,087
57,349
62,053
55,618
55,618
49,722
53,218
41,155
41,155
35,817
32,804
29,757
31,808
33,101
28,399
27,870
26,541
11,050
12,384
15,821
15,821
14,345
13,232
15,417
15,417
14,608
15,815
18,077
18,077
14,398
16,032
19,943
20,520
20,749
21,464
20,648
20,648
17,612
19,567
17,351
17,351
18,046
18,104
19,093
17,331
17,011
18,890
21,521
20,990
23,537
25,657
29,270
29,270
30,179
29,928
34,278
34,209
38,848
38,155
44,570
44,570
43,084
41,581
43,406
42,567
45,103
55,484
57,240
57,240
55,662
58,558
57,988
57,988
70,489
71,167
69,095
69,095
86,880
87,094
79,535
81,331
73,910
82,471
84,029
92,393
94,980
97,711
89,016
89,016
100,217
104,204
94,598
95,344
93,076
94,015
91,164

91,164

94,015

93,076

95,344

94,598

104,204

100,217

89,016

97,711

94,980

92,393

84,029

82,471

73,910

81,331

79,535

87,094

86,880

69,095

71,167

70,489

57,988

58,558

55,662

57,240

55,484

45,103

42,567

43,406

41,581

43,084

44,570

38,155

38,848

34,209

34,278

29,928

30,179

29,270

25,657

23,537

20,990

21,521

18,890

17,011

17,331

19,093

18,104

18,046

17,351

19,567

17,612

20,648

21,464

20,749

20,520

19,943

16,032

14,398

18,077

15,815

14,608

15,417

13,232

14,345

15,821

12,384

11,050

26,541

27,870

28,399

33,101

31,808

29,757

32,804

35,817

41,155

53,218

49,722

55,618

62,053

57,349

63,087

63,500

18,500

22,200

26,100

28,700

31,100

32,300

36,500

40,400

43,400

47,300

47,700

42,800

39,900

40,500

16,100

> Total Current Assets

0
0
0
13,500
38,200
37,400
39,900
43,400
42,800
38,600
36,700
32,800
28,700
27,800
25,500
23,100
19,500
16,000
36,400
35,553
30,406
33,596
0
29,347
24,459
28,831
0
24,825
24,771
22,316
19,101
20,897
21,419
16,764
15,662
14,238
8,053
9,469
12,851
12,851
12,107
11,233
13,272
13,272
12,661
13,882
14,683
14,683
10,746
12,226
15,969
16,577
16,695
16,958
16,241
16,241
13,265
15,351
13,072
13,072
15,289
15,063
16,205
14,527
14,177
15,106
17,967
17,199
19,767
20,538
23,996
23,996
23,517
23,036
25,646
25,724
30,044
28,385
31,959
31,959
30,281
28,537
30,111
28,520
30,165
39,714
42,763
42,763
42,601
46,115
46,822
46,822
56,088
56,735
55,132
55,132
67,749
67,940
62,161
63,957
58,458
67,328
66,517
75,679
78,325
79,854
72,026
72,026
81,807
86,308
80,920
81,719
78,713
79,773
76,109

76,109

79,773

78,713

81,719

80,920

86,308

81,807

72,026

79,854

78,325

75,679

66,517

67,328

58,458

63,957

62,161

67,940

67,749

55,132

56,735

56,088

46,822

46,115

42,601

42,763

39,714

30,165

28,520

30,111

28,537

30,281

31,959

28,385

30,044

25,724

25,646

23,036

23,517

23,996

20,538

19,767

17,199

17,967

15,106

14,177

14,527

16,205

15,063

15,289

13,072

15,351

13,265

16,241

16,958

16,695

16,577

15,969

12,226

10,746

14,683

13,882

12,661

13,272

11,233

12,107

12,851

9,469

8,053

14,238

15,662

16,764

21,419

20,897

19,101

22,316

24,771

24,825

28,831

24,459

29,347

33,596

30,406

35,553

36,400

16,000

19,500

23,100

25,500

27,800

28,700

32,800

36,700

38,600

42,800

43,400

39,900

37,400

38,200

13,500

Cash And Cash Equivalents

0
0
0
200
23,400
20,500
17,900
19,500
21,800
17,700
13,800
13,000
8,300
9,500
10,100
11,100
7,400
3,600
2,400
2,074
1,048
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
236
887
887
1,158
1,813
1,914
1,914
1,655
1,892
1,148
1,148
1,601
1,503
1,246
2,409
2,245
2,051
1,685
1,685
1,466
2,040
1,659
1,659
952
857
923
1,473
1,264
1,638
1,705
1,666
1,722
1,929
1,792
1,792
3,051
3,111
2,814
4,236
4,699
5,622
4,382
4,382
5,726
6,210
5,718
7,033
5,027
7,502
7,324
7,324
8,309
7,662
8,827
8,827
5,836
6,988
7,111
7,111
7,826
7,372
10,458
10,458
13,676
15,750
15,972
19,713
16,701
15,300
13,473
13,473
11,545
11,264
9,345
11,253
10,916
7,960
10,719

10,719

7,960

10,916

11,253

9,345

11,264

11,545

13,473

15,300

16,701

19,713

15,972

15,750

13,676

10,458

7,372

7,826

7,111

6,988

5,836

8,827

7,662

8,309

7,324

7,502

5,027

7,033

5,718

6,210

5,726

4,382

5,622

4,699

4,236

2,814

3,111

3,051

1,792

1,929

1,722

1,666

1,705

1,638

1,264

1,473

923

857

952

1,659

2,040

1,466

1,685

2,051

2,245

2,409

1,246

1,503

1,601

1,148

1,892

1,655

1,914

1,813

1,158

887

236

1,048

2,074

2,400

3,600

7,400

11,100

10,100

9,500

8,300

13,000

13,800

17,700

21,800

19,500

17,900

20,500

23,400

200

Net Receivables

0
0
0
12,200
13,400
15,000
20,700
22,600
18,900
17,800
21,400
19,000
19,500
17,500
14,700
11,200
11,400
12,000
26,600
28,858
25,250
25,247
0
23,207
19,239
23,340
0
21,144
21,084
18,370
17,415
19,005
19,504
15,002
13,942
11,401
7,743
7,966
11,307
11,307
10,526
8,758
10,656
10,656
10,483
11,258
12,982
12,982
8,507
10,046
13,748
12,991
13,521
13,968
13,110
13,110
10,751
11,807
10,231
10,231
11,804
12,981
13,999
12,240
11,985
12,696
15,461
14,673
17,344
17,713
21,414
21,414
19,709
19,037
21,734
20,627
24,476
21,844
26,245
26,245
23,354
21,306
23,203
20,285
23,786
30,782
33,669
33,669
32,435
36,824
35,964
35,964
47,546
46,783
46,142
46,142
57,462
57,186
49,299
51,095
42,911
47,366
46,914
53,025
57,232
59,234
54,171
54,171
63,636
66,499
63,714
63,645
63,018
65,650
59,776

59,776

65,650

63,018

63,645

63,714

66,499

63,636

54,171

59,234

57,232

53,025

46,914

47,366

42,911

51,095

49,299

57,186

57,462

46,142

46,783

47,546

35,964

36,824

32,435

33,669

30,782

23,786

20,285

23,203

21,306

23,354

26,245

21,844

24,476

20,627

21,734

19,037

19,709

21,414

17,713

17,344

14,673

15,461

12,696

11,985

12,240

13,999

12,981

11,804

10,231

11,807

10,751

13,110

13,968

13,521

12,991

13,748

10,046

8,507

12,982

11,258

10,483

10,656

8,758

10,526

11,307

7,966

7,743

11,401

13,942

15,002

19,504

19,005

17,415

18,370

21,084

21,144

23,340

19,239

23,207

25,247

25,250

28,858

26,600

12,000

11,400

11,200

14,700

17,500

19,500

19,000

21,400

17,800

18,900

22,600

20,700

15,000

13,400

12,200

Other Current Assets

0
0
0
1,100
1,400
1,900
1,300
1,300
2,100
3,100
1,500
800
900
800
700
800
700
400
7,400
4,621
4,108
8,349
6,140
6,140
5,220
5,491
3,681
3,798
3,687
3,946
1,686
1,892
1,915
1,762
1,720
2,837
310
1,267
657
657
423
662
702
702
523
732
553
553
638
677
975
1,177
929
939
1,446
1,446
1,048
1,504
1,182
1,182
2,533
1,225
1,283
814
928
772
801
860
701
896
596
596
577
710
642
432
437
509
868
868
765
605
661
734
861
898
1,299
1,299
1,857
1,629
5,501
2,031
2,706
2,964
8,999
1,879
2,461
3,382
2,404
2,404
1,871
4,212
3,631
2,941
4,392
5,320
4,382
4,382
5,769
7,688
7,861
6,821
4,779
6,163
5,614

5,614

6,163

4,779

6,821

7,861

7,688

5,769

4,382

5,320

4,392

2,941

3,631

4,212

1,871

2,404

3,382

2,461

1,879

8,999

2,964

2,706

2,031

5,501

1,629

1,857

1,299

898

861

734

661

605

765

868

509

437

432

642

710

577

596

896

701

860

801

772

928

814

1,283

1,225

2,533

1,182

1,504

1,048

1,446

939

929

1,177

975

677

638

553

732

523

702

662

423

657

1,267

310

2,837

1,720

1,762

1,915

1,892

1,686

3,946

3,687

3,798

3,681

5,491

5,220

6,140

8,349

4,108

4,621

7,400

400

700

800

700

800

900

800

1,500

3,100

2,100

1,300

1,900

1,400

1,100

> Long-term Assets

0
0
0
2,600
2,300
2,500
2,900
4,300
4,500
4,800
3,700
3,700
3,600
3,300
3,200
3,000
2,700
2,500
27,100
27,534
26,943
28,457
0
26,271
25,263
24,387
0
16,330
11,046
10,488
10,656
10,911
11,682
11,635
12,208
12,303
2,997
2,915
2,970
2,970
2,238
1,999
2,145
2,145
1,947
1,933
3,394
3,394
3,652
3,806
3,974
3,943
4,054
4,506
4,407
4,407
4,347
4,216
4,279
4,279
2,757
3,041
2,888
2,804
2,834
3,784
3,554
3,791
3,770
5,119
5,274
5,274
6,662
6,892
8,632
8,485
8,804
9,770
12,611
12,611
12,803
13,044
13,295
14,047
14,938
15,770
14,477
14,477
13,061
12,443
11,166
11,166
14,401
14,432
13,963
13,963
19,131
19,154
17,374
17,374
15,452
15,143
17,512
16,714
16,655
17,857
16,990
16,990
18,410
17,896
13,678
13,625
14,363
14,242
15,055

15,055

14,242

14,363

13,625

13,678

17,896

18,410

16,990

17,857

16,655

16,714

17,512

15,143

15,452

17,374

19,154

19,131

13,963

14,432

14,401

11,166

12,443

13,061

14,477

15,770

14,938

14,047

13,295

13,044

12,803

12,611

9,770

8,804

8,485

8,632

6,892

6,662

5,274

5,119

3,770

3,791

3,554

3,784

2,834

2,804

2,888

3,041

2,757

4,279

4,216

4,347

4,407

4,506

4,054

3,943

3,974

3,806

3,652

3,394

1,933

1,947

2,145

1,999

2,238

2,970

2,915

2,997

12,303

12,208

11,635

11,682

10,911

10,656

10,488

11,046

16,330

24,387

25,263

26,271

28,457

26,943

27,534

27,100

2,500

2,700

3,000

3,200

3,300

3,600

3,700

4,800

4,500

4,300

2,900

2,500

2,300

2,600

Property Plant Equipment

0
0
0
2,100
2,000
2,000
2,000
1,800
1,800
3,700
2,500
2,400
2,300
2,200
2,100
2,000
1,800
1,500
3,000
3,459
3,656
3,620
3,561
3,561
3,588
3,120
2,644
2,644
1,926
1,658
1,972
2,015
2,267
2,166
2,099
2,038
1,751
1,686
1,536
1,536
1,242
1,112
1,131
1,131
940
929
901
901
1,297
1,411
1,528
1,466
1,532
1,950
1,803
1,803
1,641
1,544
1,550
1,550
1,424
1,588
1,452
1,400
1,489
1,527
1,523
1,771
1,724
1,725
1,777
1,777
1,991
2,039
2,032
2,105
2,131
2,238
2,175
2,175
2,446
2,450
2,443
2,459
2,468
2,556
2,536
2,536
2,487
2,551
2,712
2,712
2,894
2,902
2,950
2,950
7,855
7,410
2,848
7,796
6,281
5,588
5,695
5,213
5,000
5,157
4,710
4,710
4,220
4,162
4,230
4,341
5,028
5,117
5,194

5,194

5,117

5,028

4,341

4,230

4,162

4,220

4,710

5,157

5,000

5,213

5,695

5,588

6,281

7,796

2,848

7,410

7,855

2,950

2,902

2,894

2,712

2,551

2,487

2,536

2,556

2,468

2,459

2,443

2,450

2,446

2,175

2,238

2,131

2,105

2,032

2,039

1,991

1,777

1,725

1,724

1,771

1,523

1,527

1,489

1,400

1,452

1,588

1,424

1,550

1,544

1,641

1,803

1,950

1,532

1,466

1,528

1,411

1,297

901

929

940

1,131

1,112

1,242

1,536

1,686

1,751

2,038

2,099

2,166

2,267

2,015

1,972

1,658

1,926

2,644

3,120

3,588

3,561

3,620

3,656

3,459

3,000

1,500

1,800

2,000

2,100

2,200

2,300

2,400

2,500

3,700

1,800

2,000

2,100

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
21,077
0
0
0
0
0
0
7,858
7,858
8,100
8,157
8,749
9,201
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
848
848
848
848
1,148
1,148
1,148
1,348
1,792
1,792
1,792
1,792
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
1,800
2,257
1,847
1,847
1,836
1,841
1,836
1,836
3,215
3,783
3,788
3,788
3,788
3,779
3,784
3,784
3,756
3,753
3,760
3,752
3,763
4,168
4,166
4,166
4,171
4,169
1,708
1,711
1,715
1,712
1,382

1,382

1,712

1,715

1,711

1,708

4,169

4,171

4,166

4,168

3,763

3,752

3,760

3,753

3,756

3,784

3,779

3,788

3,783

3,215

1,836

1,841

1,836

1,847

2,257

1,800

1,792

1,348

1,148

848

798

9,201

8,749

8,157

8,100

7,858

21,077

Intangible Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
22,900
23,767
23,010
24,620
21,485
21,485
20,370
19,962
8,357
8,357
8,357
8,357
7,858
7,858
8,100
8,157
8,749
9,201
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
798
1,209
1,212
362
351
333
990
705
677
637
1,365
1,468
1,468
2,539
2,410
2,259
2,128
2,003
3,339
3,149
3,149
2,837
2,693
2,551
2,418
2,286
2,154
2,340
2,340
2,037
1,900
1,634
1,634
3,599
3,449
3,332
3,332
3,067
2,925
2,796
2,796
2,512
2,381
2,255
2,123
1,996
2,430
2,295
2,295
2,289
2,109
2,040
1,730
1,501
1,295
1,180

1,180

1,295

1,501

1,730

2,040

2,109

2,289

2,295

2,430

1,996

2,123

2,255

2,381

2,512

2,796

2,925

3,067

3,332

3,449

3,599

1,634

1,900

2,037

2,340

2,154

2,286

2,418

2,551

2,693

2,837

3,149

3,339

2,003

2,128

2,259

2,410

2,539

1,468

1,365

637

677

705

990

333

351

362

1,212

1,209

798

9,201

8,749

8,157

8,100

7,858

8,357

19,962

20,370

21,485

24,620

23,010

23,767

22,900

Other Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
23,728
23,287
24,837
22,710
22,302
21,675
21,267
13,686
13,598
9,120
8,830
8,684
8,896
9,415
9,469
10,109
10,265
1,246
1,229
1,434
1,339
996
887
1,014
970
1,007
1,004
2,493
2,244
2,355
2,395
2,446
2,477
2,522
2,556
2,604
2,627
2,706
2,672
2,729
2,747
1,333
1,453
1,436
1,404
1,345
2,257
2,031
2,020
2,046
3,394
3,497
4,814
4,671
4,853
6,600
6,380
6,673
7,532
10,436
9,946
10,357
10,594
10,852
11,588
12,470
13,214
11,941
10,596
10,574
9,892
8,454
4,485
4,693
4,298
3,893
4,258
4,421
5,040
2,998
2,815
2,903
3,421
8,702
5,626
5,896
6,102
5,819
7,205
7,730
7,456
5,700
0
0
0
0

5,700

7,456

7,730

7,205

5,819

6,102

5,896

5,626

8,702

3,421

2,903

2,815

2,998

5,040

4,421

4,258

3,893

4,298

4,693

4,485

8,454

9,892

10,574

10,596

11,941

13,214

12,470

11,588

10,852

10,594

10,357

9,946

10,436

7,532

6,673

6,380

6,600

4,853

4,671

4,814

3,497

3,394

2,046

2,020

2,031

2,257

1,345

1,404

1,436

1,453

1,333

2,747

2,729

2,672

2,706

2,627

2,604

2,556

2,522

2,477

2,446

2,395

2,355

2,244

2,493

1,004

1,007

970

1,014

887

996

1,339

1,434

1,229

1,246

10,265

10,109

9,469

9,415

8,896

8,684

8,830

9,120

13,598

13,686

21,267

21,675

22,302

22,710

24,837

23,287

23,728

Deferred Long Term Asset Charges

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
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
0
0
0
0
1,900
1,900
1,900
1,900
5,134
0
0
0
0
0
6,513
0
6,612
4,753
0
4,468
0
3,063
0
0
0
2,665
2,687
2,675
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

2,675

2,687

2,665

3,063

4,468

4,753

6,612

6,513

5,134

1,900

> Total Liabilities

0
0
0
10,100
6,900
6,200
7,800
11,000
11,700
12,700
15,200
17,800
14,600
13,100
11,100
11,400
10,800
9,600
52,900
52,201
45,904
50,508
43,378
43,378
36,486
39,405
30,221
30,221
23,319
18,833
13,165
13,993
15,142
10,992
11,847
11,241
7,872
9,155
11,901
11,901
9,206
9,090
10,162
10,162
8,266
10,724
13,045
13,045
11,376
14,318
16,418
17,265
17,390
17,881
16,876
16,876
13,724
15,341
12,820
12,820
12,891
12,317
11,846
9,707
8,701
9,979
11,108
10,002
11,900
12,663
14,535
14,535
15,417
14,572
15,722
15,650
19,288
17,686
21,359
21,359
20,036
19,352
19,008
18,696
20,745
30,338
32,158
32,158
30,821
33,231
32,433
32,433
44,038
45,788
44,321
44,321
57,995
56,900
48,174
49,961
44,206
50,236
45,407
53,791
54,571
56,489
51,668
51,668
60,275
64,344
56,537
55,485
53,499
54,245
50,918

50,918

54,245

53,499

55,485

56,537

64,344

60,275

51,668

56,489

54,571

53,791

45,407

50,236

44,206

49,961

48,174

56,900

57,995

44,321

45,788

44,038

32,433

33,231

30,821

32,158

30,338

20,745

18,696

19,008

19,352

20,036

21,359

17,686

19,288

15,650

15,722

14,572

15,417

14,535

12,663

11,900

10,002

11,108

9,979

8,701

9,707

11,846

12,317

12,891

12,820

15,341

13,724

16,876

17,881

17,390

17,265

16,418

14,318

11,376

13,045

10,724

8,266

10,162

9,090

9,206

11,901

9,155

7,872

11,241

11,847

10,992

15,142

13,993

13,165

18,833

23,319

30,221

39,405

36,486

43,378

50,508

45,904

52,201

52,900

9,600

10,800

11,400

11,100

13,100

14,600

17,800

15,200

12,700

11,700

11,000

7,800

6,200

6,900

10,100

> Total Current Liabilities

0
0
0
6,400
6,600
5,900
7,400
10,600
11,300
12,400
14,100
16,800
14,300
12,900
10,900
9,200
10,700
9,400
51,100
36,192
31,352
35,282
31,529
31,529
24,495
23,092
16,349
16,349
11,641
11,070
12,782
10,376
8,494
10,992
11,577
10,966
7,359
8,562
11,889
11,889
9,150
9,037
10,152
10,152
8,258
10,724
13,045
13,045
11,161
14,074
16,418
16,999
17,159
17,751
16,876
16,876
13,700
15,336
12,820
12,820
12,891
12,317
11,846
9,370
8,288
9,588
10,774
9,564
11,525
12,334
14,267
14,268
15,267
14,443
15,665
11,971
13,399
13,566
15,504
15,504
14,894
14,214
13,277
14,669
14,423
30,326
32,154
32,154
30,781
33,198
32,326
32,326
32,315
42,568
42,515
42,515
52,434
51,339
44,754
46,541
41,197
47,339
42,905
51,272
52,417
54,423
50,206
50,206
58,932
61,577
54,555
53,598
51,488
52,246
48,565

48,565

52,246

51,488

53,598

54,555

61,577

58,932

50,206

54,423

52,417

51,272

42,905

47,339

41,197

46,541

44,754

51,339

52,434

42,515

42,568

32,315

32,326

33,198

30,781

32,154

30,326

14,423

14,669

13,277

14,214

14,894

15,504

13,566

13,399

11,971

15,665

14,443

15,267

14,268

14,267

12,334

11,525

9,564

10,774

9,588

8,288

9,370

11,846

12,317

12,891

12,820

15,336

13,700

16,876

17,751

17,159

16,999

16,418

14,074

11,161

13,045

10,724

8,258

10,152

9,037

9,150

11,889

8,562

7,359

10,966

11,577

10,992

8,494

10,376

12,782

11,070

11,641

16,349

23,092

24,495

31,529

35,282

31,352

36,192

51,100

9,400

10,700

9,200

10,900

12,900

14,300

16,800

14,100

12,400

11,300

10,600

7,400

5,900

6,600

6,400

Short-term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,600
0
18,800
3,049
4,897
1,225
0
1,211
928
380
0
57
0
0
0
0
0
4,673
4,084
3,889
1,856
2,809
0
4,956
2,449
2,418
0
2,969
2,967
3,249
0
5,318
2,426
3,021
6,119
5,055
5,129
4,713
0
5,494
3,825
4,369
0
4,862
5,764
5,535
5,263
3,408
3,196
4,155
3,641
972
1,246
954
2,393
2,393
2,399
2,329
4,420
96
558
503
658
658
666
884
476
304
506
8,181
9,778
9,778
8,802
6,222
6,839
6,839
3,581
9,635
10,414
10,414
14,025
11,713
8,932
11,760
9,882
13,249
10,727
13,900
12,350
14,876
1,019
12,061
19,136
19,414
0
19,042
16,783
20,269
21,898

21,898

20,269

16,783

19,042

19,414

19,136

12,061

1,019

14,876

12,350

13,900

10,727

13,249

9,882

11,760

8,932

11,713

14,025

10,414

9,635

3,581

6,839

6,222

8,802

9,778

8,181

506

304

476

884

666

658

503

558

4,420

2,329

2,399

2,393

954

1,246

972

3,641

4,155

3,196

3,408

5,263

5,535

5,764

4,862

4,369

3,825

5,494

4,713

5,129

5,055

6,119

3,021

2,426

5,318

3,249

2,967

2,969

2,418

2,449

4,956

2,809

1,856

3,889

4,084

4,673

380

928

1,211

1,225

4,897

3,049

18,800

9,600

Short Long Term Debt

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
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
0
0
0
0
0
0
0
0
7,988
0
0
0
8,475
0
0
0
12,262
6,535
10,531
8,380
9,079
14,279
18,629
0
333
10,049
13,182
11,352
8,932
10,349
8,103
12,104
9,329
12,940
11,386
13,828
11,042
15,831
18,481
18,905
17,980
18,585
15,906
19,323
0

19,323

15,906

18,585

17,980

18,905

18,481

15,831

11,042

13,828

11,386

12,940

9,329

12,104

8,103

10,349

8,932

11,352

13,182

10,049

333

18,629

14,279

9,079

8,380

10,531

6,535

12,262

8,475

7,988

Accounts payable

0
0
0
1,800
400
700
700
800
800
500
1,700
3,400
900
300
2,100
1,200
1,000
900
6,500
7,419
4,850
8,552
5,849
5,849
3,972
3,108
440
440
747
1,159
422
695
958
1,219
1,445
2,596
2,083
1,593
2,158
2,158
1,533
1,592
1,597
1,597
2,012
2,726
2,551
2,551
2,558
3,830
3,631
4,654
4,439
6,180
4,491
4,491
4,454
5,387
3,819
3,819
2,637
2,316
1,804
1,538
1,779
1,541
1,819
3,401
3,220
2,699
4,882
4,177
5,006
4,024
4,267
3,891
3,934
3,695
6,038
4,011
3,911
3,608
2,984
4,024
3,401
5,007
11,305
5,567
5,696
7,783
10,367
7,341
8,621
9,542
13,313
8,668
10,338
11,524
13,852
11,049
6,841
8,377
7,859
9,232
11,117
10,156
8,943
8,943
10,345
12,640
10,588
10,493
9,334
10,533
9,488

9,488

10,533

9,334

10,493

10,588

12,640

10,345

8,943

10,156

11,117

9,232

7,859

8,377

6,841

11,049

13,852

11,524

10,338

8,668

13,313

9,542

8,621

7,341

10,367

7,783

5,696

5,567

11,305

5,007

3,401

4,024

2,984

3,608

3,911

4,011

6,038

3,695

3,934

3,891

4,267

4,024

5,006

4,177

4,882

2,699

3,220

3,401

1,819

1,541

1,779

1,538

1,804

2,316

2,637

3,819

5,387

4,454

4,491

6,180

4,439

4,654

3,631

3,830

2,558

2,551

2,726

2,012

1,597

1,592

1,533

2,158

1,593

2,083

2,596

1,445

1,219

958

695

422

1,159

747

440

3,108

3,972

5,849

8,552

4,850

7,419

6,500

900

1,000

1,200

2,100

300

900

3,400

1,700

500

800

700

400

1,800

Other Current Liabilities

0
0
0
4,600
6,200
5,200
6,700
9,800
10,500
11,900
12,400
13,400
13,400
12,600
8,800
8,000
100
8,500
25,800
25,724
21,605
25,505
24,469
24,469
14,756
14,920
15,852
9,984
10,894
9,911
12,360
9,681
7,536
772
685
685
932
1,077
4,430
1,397
1,415
1,622
5,053
1,757
2,557
4,094
4,687
4,616
5,500
6,529
6,088
6,543
6,940
6,444
5,632
6,309
4,883
4,908
3,797
3,662
512
4,064
471
3,810
3,019
3,735
5,131
4,974
6,635
8,258
6,992
7,435
7,417
7,463
6,305
7,593
8,141
8,878
8,808
10,176
9,735
9,001
9,314
9,758
9,837
16,183
11,075
15,504
14,755
17,606
15,120
16,607
19,426
22,892
18,788
22,813
27,103
27,194
21,970
23,138
24,058
24,661
22,520
23,845
25,244
26,085
36,343
25,301
26,571
26,762
8,736
21,881
23,044
19,673
15,274

15,274

19,673

23,044

21,881

8,736

26,762

26,571

25,301

36,343

26,085

25,244

23,845

22,520

24,661

24,058

23,138

21,970

27,194

27,103

22,813

18,788

22,892

19,426

16,607

15,120

17,606

14,755

15,504

11,075

16,183

9,837

9,758

9,314

9,001

9,735

10,176

8,808

8,878

8,141

7,593

6,305

7,463

7,417

7,435

6,992

8,258

6,635

4,974

5,131

3,735

3,019

3,810

471

4,064

512

3,662

3,797

4,908

4,883

6,309

5,632

6,444

6,940

6,543

6,088

6,529

5,500

4,616

4,687

4,094

2,557

1,757

5,053

1,622

1,415

1,397

4,430

1,077

932

685

772

7,536

9,681

12,360

9,911

10,894

9,984

15,852

14,920

14,756

24,469

25,505

21,605

25,724

25,800

8,500

100

8,000

8,800

12,600

13,400

12,400

11,900

10,500

9,800

6,700

5,200

6,200

4,600

> Long-term Liabilities

0
0
0
3,700
300
300
400
400
400
300
1,100
1,000
300
200
200
2,200
100
200
1,800
16,009
14,552
15,226
0
11,849
11,991
16,313
0
13,872
11,678
7,763
383
3,617
6,648
0
270
275
513
593
12
12
56
53
10
10
8
502
0
504
215
244
975
266
231
130
0
593
24
5
0
0
0
603
0
337
413
391
334
438
375
329
268
267
150
129
57
3,679
5,889
4,120
5,855
5,855
5,142
5,138
5,731
4,027
6,322
12
4
4
40
33
107
107
11,723
3,220
1,806
1,806
5,561
5,561
3,420
3,420
3,009
2,897
2,502
2,519
2,154
2,066
12,504
1,462
1,343
2,767
1,982
1,887
2,011
1,999
2,353

2,353

1,999

2,011

1,887

1,982

2,767

1,343

1,462

12,504

2,066

2,154

2,519

2,502

2,897

3,009

3,420

5,561

1,806

3,220

11,723

107

6,322

4,027

5,731

5,138

5,142

5,855

4,120

5,889

3,679

129

150

267

268

329

375

438

334

391

413

337

603

593

130

231

266

975

244

215

504

502

593

513

275

270

6,648

3,617

383

7,763

11,678

13,872

16,313

11,991

11,849

15,226

14,552

16,009

1,800

200

100

2,200

200

300

1,000

1,100

300

400

300

3,700

Long term Debt Total

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
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
0
0
0
0
0
0
0
0
5,855
0
5,142
0
0
4,027
6,322
12
0
0
0
0
107
0
0
3,220
1,806
1,922
1,634
1,634
1,300
1,300
1,300
0
0
0
0
0
0
0
0
0
0
0
0
0
0

1,300

1,634

1,922

1,806

3,220

107

6,322

4,027

5,142

5,855

Deferred Long Term Asset Charges

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
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
0
0
0
0
1,900
1,900
1,900
1,900
5,134
0
0
0
0
0
6,513
0
6,612
4,753
0
4,468
0
3,063
0
0
0
2,665
2,687
2,675
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

2,675

2,687

2,665

3,063

4,468

4,753

6,612

6,513

5,134

1,900

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,596
1,136
1,212
751
585
497
578
1,703
235
0
0
0
270
275
513
593
12
15
56
53
10
10
8
502
504
252
215
244
975
266
231
130
494
0
0
0
0
0
0
0
0
337
413
391
0
0
0
0
0
0
0
0
57
21
90
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
0
0
0

391

413

337

494

130

231

266

975

244

215

252

504

502

593

513

275

270

235

1,703

578

497

585

751

1,212

1,136

1,596

> Total Stockholder Equity

0
0
0
6,000
33,600
33,700
35,000
36,700
35,600
30,700
25,200
18,700
17,700
18,000
17,600
14,700
11,400
8,900
10,600
10,886
11,445
11,545
12,240
12,240
13,236
13,813
10,934
10,934
12,498
13,971
16,592
17,815
17,959
17,407
16,023
15,300
3,178
3,229
3,714
3,714
5,022
3,933
4,850
4,850
5,891
4,589
4,528
4,528
2,508
1,062
2,550
2,514
2,527
2,558
3,179
3,179
3,442
3,587
4,100
4,100
4,785
5,184
6,797
7,144
7,834
7,868
9,343
9,766
10,458
11,557
12,839
12,839
12,386
12,882
15,813
15,667
16,441
16,443
18,757
18,757
18,158
17,428
18,702
18,163
18,330
18,572
18,089
18,089
20,332
20,500
19,650
19,650
17,687
16,884
16,298
16,298
18,601
19,096
18,955
18,955
17,753
18,958
22,159
22,912
23,829
24,372
19,751
19,751
24,399
23,958
22,427
23,556
24,487
24,482
28,226

28,226

24,482

24,487

23,556

22,427

23,958

24,399

19,751

24,372

23,829

22,912

22,159

18,958

17,753

18,955

19,096

18,601

16,298

16,884

17,687

19,650

20,500

20,332

18,089

18,572

18,330

18,163

18,702

17,428

18,158

18,757

16,443

16,441

15,667

15,813

12,882

12,386

12,839

11,557

10,458

9,766

9,343

7,868

7,834

7,144

6,797

5,184

4,785

4,100

3,587

3,442

3,179

2,558

2,527

2,514

2,550

1,062

2,508

4,528

4,589

5,891

4,850

3,933

5,022

3,714

3,229

3,178

15,300

16,023

17,407

17,959

17,815

16,592

13,971

12,498

10,934

13,813

13,236

12,240

11,545

11,445

10,886

10,600

8,900

11,400

14,700

17,600

18,000

17,700

18,700

25,200

30,700

35,600

36,700

35,000

33,700

33,600

6,000

Common Stock

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
182
182
182
182
182
182
182
186
186
186
188
188
188
189
189
189
189
189
189
189
189
189
189
189
189
189
189
189
189
189
189
191
191
191
191
191
191
191
191
191
191
191
193
193
200
201
201
201
201
201
204
205
205
205
206
207
207
207
207
207
207
207
207
207
207
207
207
207
207
207
207
207
207
207
208
208
208
209
210
211
211
211
211
211
212
213
213
213
213
218
227
229
233
233
232
232

232

233

229

227

218

213

212

211

210

209

208

207

206

205

204

201

200

193

191

189

188

186

182

Retained Earnings Total Equity

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
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
-6,046
-5,830
-4,626
-4,319
-3,601
-3,023
-1,696
-1,652
-1,783
-1,452
1,654
1,285
1,862
2,244
4,770
4,696
4,724
4,633
5,662
5,523
5,805
5,746
5,835
5,591
5,999
6,246
4,977
5,101
3,325
3,945
3,432
4,033
5,553
6,459
5,851
6,149
6,044
7,188
9,218
10,135
10,649
0
0
0
0
0
0
0
8,212
0
0

8,212

10,649

10,135

9,218

7,188

6,044

6,149

5,851

6,459

5,553

4,033

3,432

3,945

3,325

5,101

4,977

6,246

5,999

5,591

5,835

5,746

5,805

5,523

5,662

4,633

4,724

4,696

4,770

2,244

1,862

1,285

1,654

-1,452

-1,783

-1,652

-1,696

-3,023

-3,601

-4,319

-4,626

-5,830

-6,046

Accumulated Other Comprehensive Income

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
-6,128
-6,128
-6,128
-6,128
-7
-8
-3
-56
-6,175
-86
-175
-184
-6,437
17
-28
-36
-7,161
-109
-47
-32
-43
-46
-69
-386
-8,698
-361
-236
-299
-9,808
-220
-291
-216
-142
-119
-117
-280
-172
-214
-367
-209
-12,453
-382
-943
-887
-1,031
-1,078
-986
-1,409
-14,337
-1,556
-2,306
-2,969
-2,869
-3,357
-3,570
-3,364
-13,726
-3,995
-2,021
-2,060
-15,075
-1,690
-2,065
-3,518
-18,041
-3,638
-3,556
-4,006
-4,000
-3,598
-5,106
-5,060
-3,913
-4,111
-3,888
-4,591
-5,028
-5,028
-5,663
-6,174
0
-4,856
-4,525
-4,871
-3,341

-3,341

-4,871

-4,525

-4,856

-6,174

-5,663

-5,028

-4,591

-3,888

-4,111

-3,913

-5,060

-5,106

-3,598

-4,000

-4,006

-3,556

-3,638

-18,041

-3,518

-2,065

-1,690

-15,075

-2,060

-2,021

-3,995

-13,726

-3,364

-3,570

-3,357

-2,869

-2,969

-2,306

-1,556

-14,337

-1,409

-986

-1,078

-1,031

-887

-943

-382

-12,453

-209

-367

-214

-172

-280

-117

-119

-142

-216

-291

-220

-9,808

-299

-236

-361

-8,698

-386

-69

-46

-43

-32

-47

-109

-7,161

-36

-28

-6,437

-184

-175

-86

-6,175

-56

-3

-8

-7

-6,128

Capital Surplus

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
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
13,796
13,777
13,940
14,098
14,225
14,609
14,738
14,872
15,014
15,267
15,339
15,383
15,488
15,589
15,519
15,613
15,692
15,755
15,871
15,954
16,037
16,041
16,093
16,138
16,198
16,234
16,271
16,241
16,253
16,275
16,304
16,353
16,410
16,448
16,511
16,536
16,606
16,621
16,645
16,678
16,857
0
0
0
0
0
0
0
20,845
0
0

20,845

16,857

16,678

16,645

16,621

16,606

16,536

16,511

16,448

16,410

16,353

16,304

16,275

16,253

16,241

16,271

16,234

16,198

16,138

16,093

16,041

16,037

15,954

15,871

15,755

15,692

15,613

15,519

15,589

15,488

15,383

15,339

15,267

15,014

14,872

14,738

14,609

14,225

14,098

13,940

13,777

13,796

Treasury Stock

-285

-2

-15

-8

-26

-33

-36

-115

-127

-51

-34

-51

-58

-149

-164

-169

-198

-159

-173

-183

-188

-130

-356

-252

-107

-26

-24

-1

-3

-108

-176

-213

-242

-384

-710

-582

-108

-30

-11

Other Stockholders Equity

0
0
0
6,500
0
32,600
32,600
33,400
33,500
30,500
30,500
30,500
30,500
30,800
30,700
30,800
30,800
30,800
10,300
10,095
10,125
10,124
0
10,127
10,127
10,127
0
10,531
10,544
10,803
17,017
16,962
16,497
16,290
16,362
16,429
16,485
16,323
0
16,992
17,568
17,888
0
17,512
18,076
18,339
0
18,535
19,140
19,646
19,898
20,307
12,230
12,690
0
12,820
12,917
12,968
0
13,098
13,206
13,203
13,548
24,189
24,616
24,668
25,165
25,530
25,830
26,628
-382
26,783
26,873
27,200
27,183
14,175
14,372
13,992
-1,556
28,117
13,227
12,588
28,391
12,433
12,318
12,619
-3,995
25,773
14,126
14,047
-1,690
29,541
14,155
12,731
-3,638
30,699
16,839
16,427
-3,616
16,893
16,498
16,559
16,854
16,676
16,855
33,771
17,127
17,127
20,567
20,666
-4,941
20,599
20,560
20,643
20,719

20,719

20,643

20,560

20,599

-4,941

20,666

20,567

17,127

33,771

16,855

16,676

16,854

16,559

16,498

16,893

-3,616

16,427

16,839

30,699

-3,638

12,731

14,155

29,541

-1,690

14,047

14,126

25,773

-3,995

12,619

12,318

12,433

28,391

12,588

13,227

28,117

-1,556

13,992

14,372

14,175

27,183

27,200

26,873

26,783

-382

26,628

25,830

25,530

25,165

24,668

24,616

24,189

13,548

13,203

13,206

13,098

12,968

12,917

12,820

12,690

12,230

20,307

19,898

19,646

19,140

18,535

18,339

18,076

17,512

17,888

17,568

16,992

16,323

16,485

16,429

16,362

16,290

16,497

16,962

17,017

10,803

10,544

10,531

10,127

10,124

10,125

10,095

10,300

30,800

30,700

30,800

30,500

33,500

33,400

32,600

6,500

Balance Sheet

All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Accounts Payable	9,488	10,588	8,943	7,859	11,049	8,668	7,341	5,567	2,984	4,011	4,267	4,177	1,819	1,804	3,819	4,491	3,631	2,551	1,597	2,158	1,445	422	440	5,849	7,419	1,200	3,400	800	1,800
Accumulated Amortization	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
Accumulated Depreciation	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
Accumulated Other Comprehensive Income	-3,341	-4,941	-5,028	-3,913	-3,598	-3,638	-1,690	-3,995	-2,869	-1,556	-1,031	-382	-172	-142	-220	-361	-43	-109	17	-86	-7	-6,128	0	0	0	0	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	16,271	16,093	24,398	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	969	1,781	2,900	4,948	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	0	238	213	211	211	208	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	0	16,645	16,511	16,304	16,271	16,093	15,871	15,519	15,339	14,738	13,940	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	10,719	9,345	13,473	15,972	10,458	7,111	8,827	7,324	5,718	4,382	2,814	1,792	1,705	923	1,659	1,685	1,246	1,148	1,914	887	0	0	0	0	2,074	11,100	13,000	19,500	200
Cash And Equivalents	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
Cash And Short Term Investments	10,719	9,345	13,473	15,972	10,458	7,111	8,827	7,324	5,718	4,382	2,814	1,792	1,705	923	1,659	1,685	1,246	1,148	1,914	887	0	0	0	0	2,074	11,100	13,000	19,500	200
Common Stock	232	229	213	211	211	208	207	207	207	207	207	205	201	193	191	191	191	189	189	189	189	188	186	182	182	0	0	0	0
Common Stock Shares Outstanding	24,455	22,110	21,266	21,155	21,157	20,684	20,617	21,309	21,573	21,830	21,734	21,606	21,327	20,602	19,434	19,315	19,011	18,934	19,360	18,859	18,855	19,148	18,467	18,303	15,367	5,417	5,551	5,990	3,636
Common Stock Total Equity	0	0	0	211	211	208	207	207	207	207	207	205	201	193	191	191	191	189	189	189	189	188	0	0	0	0	0	0	0
Current Deferred Revenue	1,905	2,399	3,901	1,799	594	620	1,539	1,305	503	659	673	263	183	471	477	582	580	560	3,829	3,378	5,363	0	5,868	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	6,612	0	5,134	1,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	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
Earning Assets	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
Good Will	1,382	1,708	4,166	3,760	3,784	3,788	1,836	1,847	1,800	1,800	1,800	1,792	1,148	848	798	798	798	798	798	798	8,749	7,858	0	0	0	0	0	0	0
Intangible Assets	1,180	2,040	2,295	2,255	2,796	3,332	1,634	2,340	2,551	3,149	2,259	1,468	705	362	798	798	798	798	798	798	8,749	7,858	8,357	21,485	23,767	0	0	0	0
Inventory	0	0	0	0	0	0	0	471	529	464	456	194	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	91,164	94,598	89,016	84,029	81,331	69,095	57,988	57,240	43,406	44,570	34,278	29,270	21,521	19,093	17,351	20,648	19,943	18,077	15,417	15,821	27,870	29,757	41,155	55,618	63,087	26,100	36,500	47,700	16,100
Long Term Debt	0	1,376	700	1,000	1,300	1,806	107	4	5,731	5,855	0	268	334	0	0	99	0	0	0	0	0	148	13,287	10,253	0	0	0	0	0
Long Term Debt Total	0	0	0	0	1,300	1,806	107	4	5,731	5,855	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	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
Negative Goodwill	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
Net Debt	12,649	10,980	50	-2,743	4,722	5,109	-1,881	2,458	489	2,131	1,663	869	2,270	4,340	3,203	3,809	4,873	4,170	1,055	4,081	4,084	148	13,344	11,464	16,984	-11,100	-13,000	-19,500	3,200
Net Invested Capital	0	41,774	31,493	32,488	29,187	28,518	26,596	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	59,776	63,714	54,171	46,914	51,095	46,142	35,964	33,669	23,203	26,245	21,734	21,414	15,461	13,999	10,231	13,110	13,748	12,982	10,656	11,307	13,942	17,415	21,144	23,207	28,858	11,200	19,000	22,600	12,200
Net Tangible Assets	0	18,670	13,290	16,144	12,375	16,298	19,650	13,902	14,351	13,808	11,754	9,579	7,490	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	27,544	26,365	21,820	23,612	17,407	12,617	14,496	10,609	16,834	16,455	9,981	9,728	7,193	4,359	252	-635	-449	1,638	3,120	962	4,085	6,319	8,476	-2,182	-639	13,900	16,000	32,800	7,100
Non Current Assets Total	15,055	13,678	16,990	17,512	17,374	13,963	11,166	14,477	13,295	12,611	8,632	5,274	3,554	2,888	4,279	4,407	3,974	3,394	2,145	2,970	12,208	10,656	16,330	26,271	27,534	3,000	3,700	4,300	2,600
Non Current Liabilities Other	0	0	0	0	2,120	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	2,353	1,982	1,462	2,502	3,420	1,806	107	4	5,731	5,855	57	267	334	450	0	593	975	504	10	12	270	383	13,872	11,849	16,009	2,200	1,000	400	3,700
Non Currrent Assets Other	1,729	1,934	1,351	1,601	1,115	1,325	1,929	1,142	611	353	641	237	178	226	1,931	1,806	1,648	1,695	216	636	926	121	4,940	1,225	308	1,000	1,300	2,500	500
Noncontrolling Interest In Consolidated Entity	0	0	0	16,463	12,406	8,476	5,905	6,993	5,696	4,454	2,743	1,896	1,070	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	5,700	5,819	8,702	2,998	3,893	4,984	5,836	6,501	5,487	2,541	237	178	226	1,931	1,806	1,648	1,695	216	636	1,360	826	5,329	1,225	0	0	0	0	0
Other Current Assets	5,614	7,861	4,382	3,631	2,404	1,879	2,031	1,299	661	868	642	596	801	1,283	1,182	1,446	975	553	702	657	1,720	1,686	3,681	6,140	4,621	800	800	1,300	1,100
Other Current Liab	15,274	23,225	25,301	22,520	23,138	22,813	16,607	15,504	9,314	10,176	6,305	7,435	5,131	4,308	3,662	6,309	6,088	4,616	1,757	1,397	685	12,360	9,984	24,469	25,724	8,000	13,400	9,800	4,600
Other Liab	0	0	0	0	0	0	0	0	0	0	57	0	0	0	0	494	975	504	10	12	270	235	585	1,596	0	0	0	0	0
Other Stockholder Equity	20,719	20,423	17,127	16,643	16,509	16,296	29,541	25,773	28,391	28,117	27,183	26,783	25,165	13,548	13,098	12,820	19,898	18,535	17,512	16,992	16,362	17,017	10,531	10,127	10,095	30,800	30,500	33,400	6,500
Preferred Stock Redeemable	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
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	24,398	0	0	0	0	6	6	6	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	0	4,230	4,710	2,795	7,796	2,950	2,712	2,536	2,443	2,175	2,032	1,777	1,523	1,452	1,550	1,803	1,528	901	1,131	1,536	2,099	1,972	0	0	0	0	0	0	0
Property Plant And Equipment Net	5,194	4,230	4,710	5,695	7,796	2,950	2,712	2,536	2,443	2,175	2,032	1,777	1,523	1,452	1,550	1,803	1,528	901	1,131	1,536	2,099	1,972	2,644	3,561	3,459	2,000	2,400	1,800	2,100
Property Plant Equipment	0	4,230	4,710	5,695	2,848	2,950	2,712	2,536	2,443	2,175	2,032	1,777	1,523	1,452	1,550	1,803	1,528	901	1,131	1,536	2,099	1,972	2,644	3,561	0	0	0	0	0
Retained Earnings	10,609	6,707	7,439	9,218	5,833	3,432	4,977	5,835	5,662	4,770	1,654	-1,696	-4,626	-6,808	-8,975	-9,477	-9,579	-7,035	-6,414	-7,292	4,976	5,515	217	1,931	609	-16,100	-11,800	3,300	-500
Retained Earnings Total Equity	0	0	0	9,218	5,851	3,432	4,977	5,835	5,662	4,770	1,654	-1,696	-4,626	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	17,980	11,042	9,329	8,932	10,414	6,839	9,778	8,475	7,988	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	23,368	20,325	13,523	13,229	15,180	12,220	6,946	9,782	6,207	6,513	4,477	2,661	3,975	5,263	4,862	5,494	6,119	5,318	2,969	4,968	4,084	148	13,344	11,464	19,058	0	0	0	3,400
Short Term Debt	21,898	18,343	12,061	10,727	11,760	10,414	6,839	9,778	476	658	4,420	2,393	3,641	5,263	4,862	5,494	6,119	5,318	2,969	4,956	4,084	0	57	1,211	3,049	0	0	0	0
Short Term Investments	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
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	24,398	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	91,164	94,598	89,016	84,029	81,331	69,095	57,988	57,240	43,406	44,570	34,278	29,270	21,521	19,093	17,351	20,648	19,943	18,077	15,417	15,821	27,870	29,757	41,155	55,618	63,087	26,100	36,500	47,700	16,100
Total Current Assets	76,109	80,920	72,026	66,517	63,957	55,132	46,822	42,763	30,111	31,959	25,646	23,996	17,967	16,205	13,072	16,241	15,969	14,683	13,272	12,851	15,662	19,101	24,825	29,347	35,553	23,100	32,800	43,400	13,500
Total Current Liabilities	48,565	54,555	50,206	42,905	46,541	42,515	32,326	32,154	13,277	15,504	15,665	14,268	10,774	11,846	12,820	16,876	16,418	13,045	10,152	11,889	11,577	12,782	16,349	31,529	36,192	9,200	16,800	10,600	6,400
Total Liab	50,918	56,537	51,668	45,407	49,961	44,321	32,433	32,158	19,008	21,359	15,722	14,535	11,108	11,846	12,820	16,876	16,418	13,045	10,162	11,901	11,847	13,165	30,221	43,378	52,201	11,400	17,800	11,000	10,100
Total Permanent Equity	0	0	0	0	0	0	25,555	25,082	24,398	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	28,226	22,427	19,751	22,159	18,955	16,298	19,650	18,089	18,702	18,757	15,813	12,839	9,343	6,797	4,100	3,179	2,550	4,528	4,850	3,714	16,023	16,592	10,934	12,240	10,886	14,700	18,700	36,700	6,000
Treasury Stock	0	0	0	-2	-2	-8	-115	-51	-169	-183	-356	-26	0	-1	-1	-1	-1	-1	-1	-108	-384	-30	0	0	0	0	0	0	0
Warrants	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

	2024-03-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31	1997-12-31	1997-09-30	1997-06-30	1997-03-31	1996-12-31	1996-09-30	1996-06-30	1996-03-31	1995-12-31	1995-09-30	1995-06-30	1995-03-31
Accounts Payable	9,488	10,533	9,334	10,493	10,588	12,640	10,345	8,943	8,943	10,156	11,117	9,232	7,859	8,377	6,841	11,049	13,852	11,524	10,338	8,668	13,313	9,542	8,621	7,341	10,367	7,783	5,696	5,567	11,305	5,007	3,401	4,024	2,984	3,608	3,911	4,011	6,038	3,695	3,934	3,891	4,267	4,024	5,006	4,177	4,882	2,699	3,220	3,401	1,819	1,541	1,779	1,538	1,804	2,316	2,637	3,819	3,819	5,387	4,454	4,491	4,491	6,180	4,439	4,654	3,631	3,830	2,558	2,551	2,551	2,726	2,012	1,597	1,597	1,592	1,533	2,158	2,158	1,593	2,083	2,596	1,445	1,219	958	695	422	1,159	747	440	440	3,108	3,972	5,849	5,849	8,552	4,850	7,419	6,500	900	1,000	1,200	2,100	300	900	3,400	1,700	500	800	800	700	700	400	1,800	-	-	-
Accumulated Amortization	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	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	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	0	0	0	0	0	0	-	-	-	-
Accumulated Depreciation	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	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	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	0	0	0	0	0	0	-	-	-	-
Accumulated Other Comprehensive Income	-3,341	-4,871	-4,525	-4,856	0	-6,174	-5,663	-5,028	-5,028	-4,591	-3,888	-4,111	-3,913	-5,060	-5,106	-3,598	-4,000	-4,006	-3,556	-3,638	-18,041	-3,518	-2,065	-1,690	-15,075	-2,060	-2,021	-3,995	-13,726	-3,364	-3,570	-3,357	-2,869	-2,969	-2,306	-1,556	-14,337	-1,409	-986	-1,078	-1,031	-887	-943	-382	-12,453	-209	-367	-214	-172	-280	-117	-119	-142	-216	-291	-220	-9,808	-299	-236	-361	-8,698	-386	-69	-46	-43	-32	-47	-109	-7,161	-36	-28	17	-6,437	-184	-175	-86	-6,175	-56	-3	-8	-7	-6,128	-6,128	-6,128	-6,128	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	16,275	16,253	16,241	16,271	16,234	16,198	16,138	16,093	16,041	16,037	23,871	24,398	22,229	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	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	0	0	0	0	0	0	0	-	-	-	-
Capital Lease Obligations	0	2,023	1,855	1,140	969	1,192	1,298	1,539	1,781	2,114	2,118	2,479	2,900	2,742	3,488	4,277	4,948	4,288	4,770	5,328	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Capital Stock	0	239	240	240	238	238	235	235	213	213	213	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	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	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	-	-	-	-
Capital Surpluse	0	0	20,845	0	0	0	0	0	0	0	16,857	16,678	16,645	16,621	16,606	16,536	16,511	16,448	16,410	16,353	16,304	16,275	16,253	16,241	16,271	16,234	16,198	16,138	16,093	16,041	16,037	15,954	15,871	15,755	15,692	15,613	15,519	15,589	15,488	15,383	15,339	15,267	15,014	14,872	14,738	14,609	14,225	14,098	13,940	13,777	13,796	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	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	-	-	-	-
Cash	10,719	7,960	10,916	11,253	9,345	11,264	11,545	13,473	13,473	15,300	16,701	19,713	15,972	15,750	13,676	10,458	10,458	7,372	7,826	7,111	7,111	6,988	5,836	8,827	8,827	7,662	8,309	7,324	7,324	7,502	5,027	7,033	5,718	6,210	5,726	4,382	4,382	5,622	4,699	4,236	2,814	3,111	3,051	1,792	1,792	1,929	1,722	1,666	1,705	1,638	1,264	1,473	923	857	952	1,659	1,659	2,040	1,466	1,685	1,685	2,051	2,245	2,409	1,246	1,503	1,601	1,148	1,148	1,892	1,655	1,914	1,914	1,813	1,158	887	887	236	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,048	2,074	2,400	3,600	7,400	11,100	10,100	9,500	8,300	13,000	13,800	17,700	21,800	19,500	17,900	20,500	23,400	200	-	-	-
Cash And Equivalents	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	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	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	0	0	0	0	0	0	-	-	-	-
Cash And Short Term Investments	10,719	7,960	10,916	11,253	0	11,264	11,545	13,473	13,473	15,300	16,701	19,713	15,972	15,750	13,676	10,458	10,458	7,372	7,826	7,111	7,111	6,988	5,836	8,827	8,827	7,662	8,309	7,324	7,324	7,502	5,027	7,033	5,718	6,210	5,726	4,382	4,382	5,622	4,699	4,236	2,814	3,111	3,051	1,792	1,792	1,929	1,722	1,666	1,705	1,638	1,264	1,473	923	857	952	1,659	0	2,040	1,466	1,685	0	2,051	2,245	2,409	1,246	1,503	1,601	1,148	0	1,892	1,655	1,914	0	1,813	1,158	887	0	236	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,048	2,074	2,400	3,600	7,400	11,100	10,100	9,500	8,300	13,000	13,800	17,700	21,800	19,500	17,900	20,500	23,400	200	-	-	-
Common Stock	232	232	233	233	229	227	218	213	213	213	213	212	211	211	211	211	211	210	209	208	208	208	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	206	205	205	205	204	201	201	201	201	201	200	193	193	191	191	191	191	191	191	191	191	191	191	191	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	188	188	188	186	186	186	182	182	182	182	182	182	182	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Common Stock Shares Outstanding	23,376	23,376	23,392	23,279	22,648	22,227	21,935	21,589	21,589	21,589	21,617	21,581	21,147	21,147	21,125	21,184	21,184	21,061	21,104	20,654	20,654	21,320	20,649	20,571	20,571	21,320	21,312	20,607	20,607	20,607	21,328	20,563	21,546	20,556	21,572	21,743	21,743	21,525	21,709	20,557	20,503	21,781	21,716	21,610	21,610	21,987	22,320	21,467	20,081	21,536	21,656	21,347	19,203	20,705	20,411	19,139	19,139	19,436	19,183	19,138	19,138	19,138	19,133	19,129	19,012	19,012	18,934	18,934	18,934	18,934	19,206	18,899	18,899	18,899	19,550	18,859	18,859	19,026	18,859	18,859	18,859	18,859	19,538	19,443	18,841	19,103	19,021	18,272	0	18,391	18,336	18,176	0	18,297	18,299	18,153	18,295	18,289	5,410	5,714	5,000	5,263	5,263	5,446	5,446	5,278	6,000	5,652	6,190	6,667	5,000	4,545	4,545	3,182	3,182
Common Stock Total Equity	0	0	233	0	0	0	0	0	0	0	213	212	211	211	211	211	211	210	209	208	208	208	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	207	206	205	205	205	204	201	201	201	201	201	200	193	193	191	191	191	191	191	191	191	191	191	191	191	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	189	188	188	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	-	-	-	-
Current Deferred Revenue	1,905	1,771	2,327	2,182	0	2,761	2,880	3,901	0	3,306	3,706	4,295	1,799	1,052	416	594	0	908	968	620	0	499	687	1,539	0	1,587	1,528	1,305	0	955	679	583	503	721	582	659	0	490	766	391	673	627	445	263	0	423	424	217	183	157	294	614	4,308	402	3,978	477	0	672	538	582	0	414	651	747	580	694	677	560	0	655	722	3,829	0	3,405	3,753	3,378	0	3,083	2,488	3,796	5,363	4,328	0	0	0	0	0	5,868	0	4,684	4,839	7,570	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,675	2,687	2,665	0	0	0	3,063	0	4,468	0	4,753	6,612	0	6,513	0	0	0	0	0	5,134	1,900	1,900	1,900	1,900	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	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	-	-	-	-
Deferred Long Term Liab	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	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	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	0	0	0	0	0	0	-	-	-	-
Earning Assets	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	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	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	0	0	0	0	0	0	-	-	-	-
Good Will	1,382	1,712	1,715	1,711	1,708	4,169	4,171	4,166	4,166	4,168	3,763	3,752	3,760	3,753	3,756	3,784	3,784	3,779	3,788	3,788	3,788	3,783	3,215	1,836	1,836	1,841	1,836	1,847	1,847	2,257	1,800	1,800	1,800	1,800	1,800	1,800	1,800	1,800	1,800	1,800	1,800	1,792	1,792	1,792	1,792	1,348	1,148	1,148	1,148	848	848	848	848	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	9,201	8,749	8,157	8,100	7,858	7,858	0	0	0	0	0	0	21,077	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Intangible Assets	1,180	1,295	1,501	1,730	2,040	2,109	2,289	2,295	2,295	2,430	1,996	2,123	2,255	2,381	2,512	2,796	2,796	2,925	3,067	3,332	3,332	3,449	3,599	1,634	1,634	1,900	2,037	2,340	2,340	2,154	2,286	2,418	2,551	2,693	2,837	3,149	3,149	3,339	2,003	2,128	2,259	2,410	2,539	1,468	1,468	1,365	637	677	705	990	333	351	362	1,212	1,209	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	798	9,201	8,749	8,157	8,100	7,858	7,858	8,357	8,357	8,357	8,357	19,962	20,370	21,485	21,485	24,620	23,010	23,767	22,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Inventory	0	0	0	0	0	857	857	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	471	0	532	491	468	529	416	436	464	0	410	432	429	456	178	180	194	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	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	-	-	-	-
Liabilities And Stockholders Equity	91,164	94,015	93,076	95,344	0	104,204	100,217	89,016	71,419	97,711	94,980	92,393	84,029	82,471	73,910	81,331	67,129	87,094	86,880	69,095	69,095	71,167	70,489	57,988	57,988	58,558	55,662	57,240	57,240	55,484	45,103	42,567	43,406	41,581	43,084	44,570	44,570	38,155	38,848	34,209	34,278	29,928	30,179	29,270	29,270	25,657	23,537	20,990	21,521	18,890	17,011	17,331	19,093	18,104	18,046	17,351	17,351	19,567	17,612	20,648	20,648	21,464	20,749	20,520	19,943	16,032	14,398	18,077	18,077	15,815	14,608	15,417	15,417	13,232	14,345	15,821	15,821	12,384	11,050	26,541	27,870	28,399	33,101	31,808	29,757	32,804	35,817	41,155	0	53,218	49,722	55,618	0	62,053	57,349	63,087	63,500	18,500	22,200	26,100	28,700	31,100	32,300	36,500	40,400	43,400	47,300	47,700	42,800	39,900	40,500	16,100	-	-	-
Long Term Debt	0	922	1,033	1,204	1,376	2,084	700	700	700	1,000	1,000	1,000	1,000	1,300	1,300	1,300	1,300	1,634	1,634	1,922	1,806	3,220	11,723	8,996	107	33	40	46	4	12	6,322	4,027	5,731	5,138	5,142	5,400	5,855	4,120	5,799	3,658	0	129	150	215	268	329	375	438	334	0	0	0	0	0	0	0	0	5	24	45	99	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6,648	3,617	148	6,060	11,100	9,269	13,287	15,562	10,779	10,529	10,253	15,226	14,552	15,762	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Long Term Debt Total	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,300	1,300	1,300	1,634	1,634	1,922	1,806	3,220	0	0	107	0	0	0	0	12	6,322	4,027	0	0	5,142	0	5,855	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	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	0	0	0	0	-	-	-	-
Long Term Investments	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	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	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	0	0	0	0	0	0	-	-	-	-
Negative Goodwill	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	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	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	0	0	0	0	0	0	-	-	-	-
Net Debt	12,649	14,308	7,878	9,676	10,011	10,917	8,934	50	50	1,642	-2,197	-3,294	-2,743	396	-785	4,722	-226	9,902	11,760	5,109	5,109	5,867	9,468	-1,881	-1,881	-1,407	533	2,458	2,458	691	1,801	-2,702	489	-188	82	2,131	2,131	-999	1,748	-461	1,663	-653	-502	869	1,047	-646	-101	-256	2,270	2,517	1,932	1,935	4,340	4,678	4,812	3,203	3,203	2,329	2,359	3,809	3,809	2,662	2,884	2,646	4,873	1,518	825	4,170	4,170	1,357	1,312	1,055	1,055	658	1,347	4,081	4,081	2,573	1,856	3,889	4,084	4,673	6,648	3,617	148	6,060	11,100	13,344	0	15,942	11,707	11,464	0	16,451	18,401	16,984	18,200	-3,600	2,300	-11,100	-10,100	-9,500	-8,300	-13,000	-13,800	-17,700	-21,800	-19,500	-17,900	-20,500	-23,400	3,200	-	-	-
Net Invested Capital	0	44,720	41,419	43,338	41,774	44,936	43,563	41,961	31,493	39,200	36,215	36,852	32,488	32,362	27,156	29,471	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	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	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	-	-	-	-
Net Receivables	59,776	65,650	63,018	63,645	63,714	66,499	63,636	54,171	54,171	59,234	57,232	53,025	46,914	47,366	42,911	51,095	49,299	57,186	57,462	46,142	46,142	46,783	47,546	35,964	35,964	36,824	32,435	33,669	33,669	30,782	23,786	20,285	23,203	21,306	23,354	26,245	26,245	21,844	24,476	20,627	21,734	19,037	19,709	21,414	21,414	17,713	17,344	14,673	15,461	12,696	11,985	12,240	13,999	12,981	11,804	10,231	10,231	11,807	10,751	13,110	13,110	13,968	13,521	12,991	13,748	10,046	8,507	12,982	12,982	11,258	10,483	10,656	10,656	8,758	10,526	11,307	11,307	7,966	7,743	11,401	13,942	15,002	19,504	19,005	17,415	18,370	21,084	21,144	0	23,340	19,239	23,207	0	25,247	25,250	28,858	26,600	12,000	11,400	11,200	14,700	17,500	19,500	19,000	21,400	17,800	18,900	22,600	20,700	15,000	13,400	12,200	-	-	-
Net Tangible Assets	0	0	24,480	0	18,670	17,669	17,922	18,763	13,290	17,774	18,070	22,912	16,144	18,958	11,485	11,418	12,375	12,392	11,746	10,062	16,298	16,884	17,687	12,461	19,650	16,759	20,332	15,509	13,902	18,572	14,244	18,163	14,351	17,428	13,521	13,342	13,808	11,304	12,638	11,739	11,754	8,680	8,055	8,329	9,579	8,844	8,673	7,941	7,490	6,030	6,653	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	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	-	-	-	-
Net Working Capital	27,544	27,527	27,225	28,121	26,365	24,731	22,875	24,857	21,820	25,431	25,908	24,407	23,612	19,989	17,261	15,532	17,407	16,601	15,315	12,617	12,617	14,167	23,773	14,496	14,496	12,917	11,820	10,609	10,609	9,388	15,742	13,851	16,834	14,323	15,387	16,455	16,455	14,819	16,645	13,753	9,981	8,593	8,250	9,728	9,729	8,204	8,242	7,635	7,193	5,518	5,889	5,157	4,359	2,746	2,398	252	252	15	-435	-635	-635	-793	-464	-422	-449	-1,848	-415	1,638	1,638	3,158	4,403	3,120	3,120	2,196	2,957	962	962	907	694	3,272	4,085	5,772	12,925	10,521	6,319	11,246	13,130	8,476	0	5,739	-36	-2,182	0	-1,686	-946	-639	-14,700	6,600	8,800	13,900	14,600	14,900	14,400	16,000	22,600	26,200	31,500	32,800	32,500	31,500	31,600	-	-	-	-
Non Current Assets Total	15,055	14,242	14,363	13,625	13,678	17,896	18,410	16,990	16,990	17,857	16,655	16,714	17,512	15,143	15,452	17,374	17,374	19,154	19,131	13,963	13,963	14,432	14,401	11,166	11,166	12,443	13,061	14,477	14,477	15,770	14,938	14,047	13,295	13,044	12,803	12,611	12,611	9,770	8,804	8,485	8,632	6,892	6,662	5,274	5,274	5,119	3,770	3,791	3,554	3,784	2,834	2,804	2,888	3,041	2,757	4,279	4,279	4,216	4,347	4,407	4,407	4,506	4,054	3,943	3,974	3,806	3,652	3,394	3,394	1,933	1,947	2,145	2,145	1,999	2,238	2,970	2,970	2,915	2,997	12,303	12,208	11,635	11,682	10,911	10,656	10,488	11,046	16,330	0	24,387	25,263	26,271	0	28,457	26,943	27,534	27,100	2,500	2,700	3,000	3,200	3,300	3,600	3,700	3,700	4,800	4,500	4,300	2,900	2,500	2,300	2,600	-	-	-
Non Current Liabilities Other	0	0	0	0	0	0	0	0	0	0	0	1,519	0	1,597	1,709	2,089	2,120	3,927	3,927	3,928	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Non Current Liabilities Total	2,353	1,999	2,011	1,887	1,982	2,767	1,343	1,462	12,504	2,066	2,154	2,519	2,502	2,897	3,009	3,420	3,420	5,561	5,561	1,806	1,806	3,220	11,723	107	107	33	40	4	4	12	6,322	4,027	5,731	5,138	5,142	5,855	5,855	4,120	5,889	3,679	57	129	150	267	268	329	375	438	334	391	413	337	0	603	0	0	0	5	24	593	0	130	231	266	975	244	215	504	0	502	8	10	10	53	56	12	12	593	513	275	270	0	6,648	3,617	383	7,763	11,678	13,872	0	16,313	11,991	11,849	0	15,226	14,552	16,009	1,800	200	100	2,200	200	200	300	1,000	1,100	300	400	400	400	300	300	3,700	-	-	-
Non Currrent Assets Other	1,729	2,259	2,019	1,816	1,934	2,200	1,927	1,351	1,351	1,940	1,537	1,484	1,601	2,033	1,259	1,115	1,115	2,365	1,734	1,325	1,325	1,736	1,733	1,929	1,929	1,683	1,832	1,142	1,142	2,290	1,871	857	611	522	213	353	353	493	970	552	641	651	340	237	237	681	261	195	178	419	164	205	226	241	124	1,931	1,931	1,874	1,908	1,806	1,806	1,758	1,724	1,679	1,648	1,597	1,557	1,695	1,695	206	209	216	216	89	198	636	636	431	448	630	926	664	667	333	121	84	374	4,940	0	223	223	1,225	0	217	277	308	1,200	1,000	900	1,000	1,100	1,100	1,300	1,300	1,200	1,100	2,700	2,500	900	500	300	500	-	-	-
Noncontrolling Interest In Consolidated Entity	0	0	15,090	0	0	0	0	0	0	0	16,580	15,690	16,463	13,277	11,951	10,586	12,406	11,098	10,284	8,926	8,476	8,495	8,764	8,736	5,905	4,827	4,509	3,820	6,993	6,574	6,028	5,708	5,696	4,801	4,890	4,697	4,454	4,026	3,119	2,892	2,743	2,474	2,376	2,138	1,896	1,437	1,179	1,222	1,070	1,043	476	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	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	-	-	-	-
Other Assets	0	0	0	0	5,700	7,456	7,730	7,205	5,819	6,102	5,896	5,626	8,702	3,421	2,903	2,815	2,998	5,040	4,421	4,258	3,893	4,298	4,693	4,485	8,454	9,892	10,574	10,596	11,941	13,214	12,470	11,588	10,852	10,594	10,357	9,946	10,436	7,532	6,673	6,380	6,600	4,853	4,671	4,814	3,497	3,394	2,046	2,020	2,031	2,257	1,345	1,404	1,436	1,453	1,333	2,747	2,729	2,672	2,706	2,627	2,604	2,556	2,522	2,477	2,446	2,395	2,355	2,244	2,493	1,004	1,007	970	1,014	887	996	1,339	1,434	1,229	1,246	10,265	10,109	9,469	9,415	8,896	8,684	8,830	9,120	13,598	13,686	21,267	21,675	22,302	22,710	24,837	23,287	23,728	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Other Current Assets	5,614	6,163	4,779	6,821	7,861	7,688	5,769	4,382	4,382	5,320	4,392	2,941	3,631	4,212	1,871	2,404	2,404	3,382	2,461	1,879	8,999	2,964	2,706	2,031	5,501	1,629	1,857	1,299	1,299	898	861	734	661	605	765	868	868	509	437	432	642	710	577	596	596	896	701	860	801	772	928	814	1,283	1,225	2,533	1,182	1,182	1,504	1,048	1,446	1,446	939	929	1,177	975	677	638	553	553	732	523	702	702	662	423	657	657	1,267	310	2,837	1,720	1,762	1,915	1,892	1,686	3,946	3,687	3,798	3,681	5,491	5,220	6,140	6,140	8,349	4,108	4,621	7,400	400	700	800	700	800	900	800	1,500	3,100	2,100	1,300	1,300	1,900	1,400	1,100	-	-	-
Other Current Liab	15,274	19,673	23,044	21,881	8,736	26,762	26,571	25,301	36,343	26,085	25,244	23,845	22,520	24,661	24,058	23,138	21,970	27,194	27,103	22,813	18,788	22,892	19,426	16,607	15,120	17,606	14,755	15,504	11,075	16,183	9,837	9,758	9,314	9,001	9,735	10,176	8,808	8,878	8,141	7,593	6,305	7,463	7,417	7,435	6,992	8,258	6,635	4,974	5,131	3,735	3,019	3,810	471	4,064	512	3,662	3,797	4,908	4,883	6,309	5,632	6,444	6,940	6,543	6,088	6,529	5,500	4,616	4,687	4,094	2,557	1,757	5,053	1,622	1,415	1,397	4,430	1,077	932	685	685	772	7,536	9,681	12,360	9,911	10,894	9,984	15,852	14,920	14,756	24,469	24,469	25,505	21,605	25,724	25,800	8,500	100	8,000	8,800	12,600	13,400	13,400	12,400	11,900	10,500	9,800	6,700	5,200	6,200	4,600	-	-	-
Other Liab	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	0	0	0	90	21	57	0	0	0	0	0	0	0	0	391	413	337	0	0	0	0	0	0	0	0	494	130	231	266	975	244	215	252	504	502	8	10	10	53	56	15	12	593	513	275	270	0	0	0	235	1,703	578	497	585	751	1,212	1,136	1,596	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Other Stockholder Equity	20,719	20,643	20,560	20,599	-4,941	20,666	20,567	17,127	17,127	33,771	16,855	16,676	16,854	16,559	16,498	16,893	-3,616	16,427	16,839	30,699	-3,638	12,731	14,155	29,541	-1,690	14,047	14,126	25,773	-3,995	12,619	12,318	12,433	28,391	12,588	13,227	28,117	-1,556	13,992	14,372	14,175	27,183	27,200	26,873	26,783	-382	26,628	25,830	25,530	25,165	24,668	24,616	24,189	13,548	13,203	13,206	13,098	0	12,968	12,917	12,820	0	12,690	12,230	20,307	19,898	19,646	19,140	18,535	0	18,339	18,076	17,512	0	17,888	17,568	16,992	0	16,323	16,485	16,429	16,362	16,290	16,497	16,962	17,017	10,803	10,544	10,531	0	10,127	10,127	10,127	0	10,124	10,125	10,095	10,300	30,800	30,800	30,800	30,700	30,800	30,500	30,500	30,500	30,500	33,500	33,400	32,600	32,600	0	6,500	-	-	-
Preferred Stock Redeemable	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	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	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	0	0	0	0	0	0	-	-	-	-
Preferred Stock Total Equity	0	0	7	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	23,871	24,398	22,229	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6	6	6	6	6	6	6	6	6	6	1	1	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	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Property Plant And Equipment Gross	0	5,117	3,172	4,341	4,230	4,162	0	0	0	0	5,000	5,213	2,795	5,588	6,281	7,046	7,796	7,410	7,855	8,358	2,950	2,902	2,894	2,819	2,712	2,551	2,487	2,523	2,536	2,556	2,468	2,459	2,443	2,450	2,446	2,456	2,175	2,238	2,131	2,105	2,032	2,039	1,991	1,861	1,777	1,725	1,724	1,771	1,523	1,527	1,489	1,400	1,452	1,588	1,424	1,619	1,550	1,544	1,641	1,727	1,803	1,950	1,532	1,466	1,528	1,411	1,297	1,296	901	929	940	1,018	1,131	1,112	1,242	1,363	1,536	1,686	1,751	2,038	2,099	2,166	2,267	2,015	1,972	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	-	-	-	-
Property Plant And Equipment Net	5,194	5,117	5,028	4,341	4,230	4,162	4,220	4,710	4,710	5,157	5,000	5,213	5,695	5,588	6,281	7,796	0	7,410	7,855	2,950	0	2,902	2,894	2,712	0	2,551	2,487	2,536	0	2,556	2,468	2,459	2,443	2,450	2,446	2,175	0	2,238	2,131	2,105	2,032	2,039	1,991	1,777	0	1,725	1,724	1,771	1,523	1,527	1,489	1,400	1,452	1,588	1,424	1,550	0	1,544	1,641	1,803	0	1,950	1,532	1,466	1,528	1,411	1,297	901	0	929	940	1,131	0	1,112	1,242	1,536	0	1,686	1,751	2,038	2,099	2,166	2,267	2,015	1,972	1,658	1,926	2,644	0	3,120	3,588	3,561	0	3,620	3,656	3,459	3,000	1,500	1,800	2,000	2,100	2,200	2,300	2,400	2,500	3,700	1,800	1,800	2,000	2,000	2,000	2,100	-	-	-
Property Plant Equipment	0	0	3,172	0	4,230	4,162	4,220	4,544	4,710	5,157	5,000	2,734	5,695	2,846	6,281	2,769	2,848	3,122	3,085	8,358	2,950	2,902	2,894	2,819	2,712	2,551	2,487	2,523	2,536	2,556	2,468	2,459	2,443	2,450	2,446	2,456	2,175	2,238	2,131	2,105	2,032	2,039	1,991	1,861	1,777	1,725	1,724	1,771	1,523	1,527	1,489	1,400	1,452	1,588	1,424	1,619	1,550	1,544	1,641	1,727	1,803	1,950	1,532	1,466	1,528	1,411	1,297	1,296	901	929	940	1,018	1,131	1,112	1,242	1,363	1,536	1,686	1,751	2,038	2,099	2,166	2,267	2,015	1,972	1,658	1,926	2,321	2,644	3,120	3,588	3,345	3,561	3,620	3,656	3,528	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Retained Earnings	10,609	8,471	8,212	7,573	6,707	9,228	9,260	7,439	7,439	11,829	10,649	10,135	9,218	7,188	6,044	5,833	5,851	6,459	5,553	3,432	3,432	3,945	3,325	4,977	4,977	6,246	5,999	5,835	5,835	5,746	5,805	5,523	5,662	4,633	4,724	4,770	4,770	2,244	1,862	1,285	1,654	-1,452	-1,783	-1,696	-1,696	-3,023	-3,601	-4,319	-4,626	-5,830	-6,046	-6,555	-6,808	-8,002	-8,327	-8,975	-8,975	-9,279	-9,436	-9,477	-9,477	-9,943	-9,826	-9,829	-9,579	-11,029	-9,282	-7,035	-7,035	-6,930	-5,537	-6,414	-6,414	-7,148	-6,007	-7,292	-7,292	-7,779	-7,992	4,186	4,976	7,056	7,401	6,793	5,515	2,980	1,768	217	217	3,504	2,927	1,931	1,931	1,239	1,138	609	300	-21,900	-19,400	-16,100	-13,100	-12,800	-12,800	-11,800	-5,300	200	2,100	3,300	2,400	1,100	0	-500	-	-	-
Retained Earnings Total Equity	0	0	8,212	0	0	0	0	0	0	0	10,649	10,135	9,218	7,188	6,044	6,149	5,851	6,459	5,553	4,033	3,432	3,945	3,325	5,101	4,977	6,246	5,999	5,591	5,835	5,746	5,805	5,523	5,662	4,633	4,724	4,696	4,770	2,244	1,862	1,285	1,654	-1,452	-1,783	-1,652	-1,696	-3,023	-3,601	-4,319	-4,626	-5,830	-6,046	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	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	-	-	-	-
Short Long Term Debt	0	19,323	15,906	18,585	17,980	18,905	18,481	15,831	11,042	13,828	11,386	12,940	9,329	12,104	8,103	10,349	8,932	11,352	13,182	10,049	333	0	18,629	14,279	9,079	8,380	10,531	6,535	12,262	0	0	0	8,475	0	0	0	7,988	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	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	0	0	0	0	-	-	-	-
Short Long Term Debt Total	23,368	22,268	18,794	20,929	0	22,181	20,479	13,523	13,523	16,942	14,504	16,419	13,229	16,146	12,891	15,180	10,232	17,274	19,586	12,220	12,220	12,855	15,304	6,946	6,946	6,255	8,842	9,782	9,782	8,193	6,828	4,331	6,207	6,022	5,808	6,513	6,513	4,623	6,447	3,775	4,477	2,458	2,549	2,661	2,839	1,283	1,621	1,410	3,975	4,155	3,196	3,408	5,263	5,535	5,764	4,862	4,862	4,369	3,825	5,494	5,494	4,713	5,129	5,055	6,119	3,021	2,426	5,318	5,318	3,249	2,967	2,969	2,969	2,471	2,505	4,968	4,968	2,809	1,856	3,889	4,084	4,673	6,648	3,617	148	6,060	11,100	13,344	0	15,942	11,707	11,464	0	16,451	19,449	19,058	20,600	0	9,700	0	0	0	0	0	0	0	0	0	0	0	0	3,400	-	-	-
Short Term Debt	21,898	20,269	16,783	19,042	0	19,414	19,136	12,061	1,019	14,876	12,350	13,900	10,727	13,249	9,882	11,760	8,932	11,713	14,025	10,414	10,414	9,635	3,581	6,839	6,839	6,222	8,802	9,778	9,778	8,181	506	304	476	884	666	658	658	503	558	96	4,420	2,329	2,399	2,393	2,393	954	1,246	972	3,641	4,155	3,196	3,408	5,263	5,535	5,764	4,862	0	4,369	3,825	5,494	0	4,713	5,129	5,055	6,119	3,021	2,426	5,318	0	3,249	2,967	2,969	0	2,418	2,449	4,956	0	2,809	1,856	3,889	4,084	4,673	0	0	0	0	0	57	0	380	928	1,211	0	1,225	4,897	3,049	18,800	0	9,600	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Short Term Investments	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	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	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	0	0	0	0	0	0	-	-	-	-
Temporary Equity Redeemable Noncontrolling Interests	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	23,871	24,398	22,229	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	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	0	0	0	0	0	0	0	-	-	-	-
Total Assets	91,164	94,015	93,076	95,344	94,598	104,204	100,217	89,016	89,016	97,711	94,980	92,393	84,029	82,471	73,910	81,331	79,535	87,094	86,880	69,095	69,095	71,167	70,489	57,988	57,988	58,558	55,662	57,240	57,240	55,484	45,103	42,567	43,406	41,581	43,084	44,570	44,570	38,155	38,848	34,209	34,278	29,928	30,179	29,270	29,270	25,657	23,537	20,990	21,521	18,890	17,011	17,331	19,093	18,104	18,046	17,351	17,351	19,567	17,612	20,648	20,648	21,464	20,749	20,520	19,943	16,032	14,398	18,077	18,077	15,815	14,608	15,417	15,417	13,232	14,345	15,821	15,821	12,384	11,050	26,541	27,870	28,399	33,101	31,808	29,757	32,804	35,817	41,155	41,155	53,218	49,722	55,618	55,618	62,053	57,349	63,087	63,500	18,500	22,200	26,100	28,700	31,100	32,300	36,500	40,400	43,400	47,300	47,700	42,800	39,900	40,500	16,100	-	-	-
Total Current Assets	76,109	79,773	78,713	81,719	80,920	86,308	81,807	72,026	72,026	79,854	78,325	75,679	66,517	67,328	58,458	63,957	62,161	67,940	67,749	55,132	55,132	56,735	56,088	46,822	46,822	46,115	42,601	42,763	42,763	39,714	30,165	28,520	30,111	28,537	30,281	31,959	31,959	28,385	30,044	25,724	25,646	23,036	23,517	23,996	23,996	20,538	19,767	17,199	17,967	15,106	14,177	14,527	16,205	15,063	15,289	13,072	13,072	15,351	13,265	16,241	16,241	16,958	16,695	16,577	15,969	12,226	10,746	14,683	14,683	13,882	12,661	13,272	13,272	11,233	12,107	12,851	12,851	9,469	8,053	14,238	15,662	16,764	21,419	20,897	19,101	22,316	24,771	24,825	0	28,831	24,459	29,347	0	33,596	30,406	35,553	36,400	16,000	19,500	23,100	25,500	27,800	28,700	32,800	36,700	38,600	42,800	43,400	39,900	37,400	38,200	13,500	-	-	-
Total Current Liabilities	48,565	52,246	51,488	53,598	54,555	61,577	58,932	50,206	50,206	54,423	52,417	51,272	42,905	47,339	41,197	46,541	44,754	51,339	52,434	42,515	42,515	42,568	32,315	32,326	32,326	33,198	30,781	32,154	32,154	30,326	14,423	14,669	13,277	14,214	14,894	15,504	15,504	13,566	13,399	11,971	15,665	14,443	15,267	14,268	14,267	12,334	11,525	9,564	10,774	9,588	8,288	9,370	11,846	12,317	12,891	12,820	12,820	15,336	13,700	16,876	16,876	17,751	17,159	16,999	16,418	14,074	11,161	13,045	13,045	10,724	8,258	10,152	10,152	9,037	9,150	11,889	11,889	8,562	7,359	10,966	11,577	10,992	8,494	10,376	12,782	11,070	11,641	16,349	16,349	23,092	24,495	31,529	31,529	35,282	31,352	36,192	51,100	9,400	10,700	9,200	10,900	12,900	14,300	16,800	14,100	12,400	11,300	10,600	7,400	5,900	6,600	6,400	-	-	-
Total Liab	50,918	54,245	53,499	55,485	56,537	64,344	60,275	51,668	51,668	56,489	54,571	53,791	45,407	50,236	44,206	49,961	48,174	56,900	57,995	44,321	44,321	45,788	44,038	32,433	32,433	33,231	30,821	32,158	32,158	30,338	20,745	18,696	19,008	19,352	20,036	21,359	21,359	17,686	19,288	15,650	15,722	14,572	15,417	14,535	14,535	12,663	11,900	10,002	11,108	9,979	8,701	9,707	11,846	12,317	12,891	12,820	12,820	15,341	13,724	16,876	16,876	17,881	17,390	17,265	16,418	14,318	11,376	13,045	13,045	10,724	8,266	10,162	10,162	9,090	9,206	11,901	11,901	9,155	7,872	11,241	11,847	10,992	15,142	13,993	13,165	18,833	23,319	30,221	30,221	39,405	36,486	43,378	43,378	50,508	45,904	52,201	52,900	9,600	10,800	11,400	11,100	13,100	14,600	17,800	15,200	12,700	11,700	11,000	7,800	6,200	6,900	10,100	-	-	-
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	25,379	26,451	28,559	25,555	25,327	24,841	23,381	25,082	25,146	24,358	23,871	24,398	22,229	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	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	0	0	0	0	0	0	0	-	-	-	-
Total Stockholder Equity	28,226	24,482	24,487	23,556	22,427	23,958	24,399	19,751	19,751	24,372	23,829	22,912	22,159	18,958	17,753	18,955	18,955	19,096	18,601	16,298	16,298	16,884	17,687	19,650	19,650	20,500	20,332	18,089	18,089	18,572	18,330	18,163	18,702	17,428	18,158	18,757	18,757	16,443	16,441	15,667	15,813	12,882	12,386	12,839	12,839	11,557	10,458	9,766	9,343	7,868	7,834	7,144	6,797	5,184	4,785	4,100	4,100	3,587	3,442	3,179	3,179	2,558	2,527	2,514	2,550	1,062	2,508	4,528	4,528	4,589	5,891	4,850	4,850	3,933	5,022	3,714	3,714	3,229	3,178	15,300	16,023	17,407	17,959	17,815	16,592	13,971	12,498	10,934	10,934	13,813	13,236	12,240	12,240	11,545	11,445	10,886	10,600	8,900	11,400	14,700	17,600	18,000	17,700	18,700	25,200	30,700	35,600	36,700	35,000	33,700	33,600	6,000	-	-	-
Treasury Stock	0	0	-285	0	0	0	0	0	0	0	-2	-2	-2	-2	-2	-2	-2	-15	-15	-8	-8	-26	-33	-36	-115	-127	-51	-34	-51	-58	-149	-164	-169	-198	-159	-173	-183	-188	-130	-130	-356	-252	-107	-26	-26	-24	0	0	0	0	0	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-1	-3	-3	-108	-176	-213	-242	-384	-710	-582	-108	-30	-11	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	-	-	-	-
Warrants	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	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	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	0	0	0	0	0	0	-	-	-	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Begin Period Cash Flow	9,345	13,473	15,972	10,458	7,111	8,827	7,324	5,718	4,382	2,814	1,792	1,705	923	1,659	1,685	1,246	1,148	1,914	887	24	0	0	0	2,074	910	13,000	19,500	200	1,400
Capital Expenditures	1,242	1,797	1,722	1,600	1,378	1,622	1,448	1,555	1,575	1,326	1,299	998	810	1,439	831	1,214	814	516	628	1,260	1,456	1,172	1,744	1,941	2,105	500	800	300	700
Cash And Cash Equivalents Changes	0	0	0	5,514	3,347	-1,716	1,503	1,606	1,336	1,568	1,022	87	782	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	-1,703	-432	852	-1,396	142	-62	-313	-638	451	1,027	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	1,374	-4,128	-2,499	5,514	3,347	-1,716	1,503	1,606	1,336	1,568	1,022	87	782	-736	-26	439	98	-766	1,027	863	0	0	1,987	-7,904	1,164	2,100	-2,900	23,500	-200
Change In Working Capital	-2,545	-14,739	-7,371	-4,151	-3,879	-1,994	1,492	-2,760	-105	-3,095	-1,315	-1,873	-788	-3,466	-393	1,091	1,311	-3,112	1,278	3,411	1,813	3,548	-6,648	1,625	-11,266	300	4,700	-5,900	-4,700
Change Receivables	0	0	0	2,135	-3,160	-9,296	-2,423	-6,902	2,792	-4,789	-488	-6,030	-1,493	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	3,232	-11,237	-7,305	2,135	-3,160	-9,296	-2,423	-6,902	2,792	-4,789	-488	-6,030	-1,493	-3,790	2,997	638	-766	-2,326	650	2,635	2,516	3,729	13	4,706	0	0	0	0	0
Change To Inventory	0	0	0	0	0	-5,171	-12,391	-8,317	-18,626	-14,505	-10,898	-7,930	-6,503	-2,755	-113	-703	429	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	1,718	1,095	-1,316	606	6,450	5,311	4,000	-2,835	2,007	-189	4,011	175	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	7,748	8,576	5,407	1,110	297	1,977	247	615	-932	-1,551	395	420	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-5,220	-1,161	-4,970	-1,249	7,446	2,105	2,292	-1,792	1,950	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2,876	2,679	3,203	4,178	3,083	2,109	2,126	2,100	1,905	1,753	1,496	1,167	1,069	1,018	1,081	939	768	746	1,031	1,399	1,529	1,844	3,847	3,564	2,182	1,100	1,000	500	600
Dividends Paid	0	118	0	0	0	1,914	2,198	286	341	110	0	165	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	10,719	9,345	13,473	15,972	10,458	7,111	8,827	7,324	5,718	4,382	2,814	1,792	1,705	923	1,659	1,685	1,246	1,148	1,914	887	24	0	0	-5,830	2,074	15,100	16,600	23,700	1,200
Exchange Rate Changes	0	0	0	-1,818	549	-3,112	1,313	-1,190	-1,320	-353	-546	-227	-16	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	5,579	-6,841	907	7,201	4,769	428	5,324	-212	3,315	771	1,579	2,447	2,725	-1,179	580	1,035	-802	-2,986	2,797	124	1,902	11,540	-1,987	4,392	-7,078	-3,900	-3,600	-2,000	-1,000
Investments	-1,643	-1,797	-1,722	-1,600	-1,378	-855	-1,448	-1,956	0	375	1,321	760	-442	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	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
Net Borrowings	0	7,895	1,449	133	-1,952	2,167	-2,825	3,577	-250	2,089	1,493	-1,475	-1,521	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	3,902	2,126	2,000	8,962	5,833	1,638	1,177	1,756	2,475	4,371	4,248	3,451	2,337	2,279	557	102	-2,544	-621	878	-12,268	-539	5,298	-1,714	1,322	-495	-4,300	-15,100	3,800	3,500
Other Cashflows From Financing Activities	-1,673	29,772	1,749	466	7,979	606	-4,258	3,445	-526	1,827	2,033	-1,087	-140	350	-278	-820	633	2,345	-1,958	907	-15	-11,900	2,061	-7,754	691	2,000	-800	-3,400	-200
Other Cashflows From Investing Activities	0	0	0	0	0	767	0	-401	0	0	65	0	0	0	0	0	0	0	0	0	0	0	0	1,500	0	0	0	0	0
Other Non Cash Items	1,370	3,550	4,606	330	83	196	113	347	388	115	73	377	917	429	166	117	477	517	238	8,132	686	0	4,272	-178	4,606	-500	6,200	100	100
Sale Purchase Of Stock	0	-181	0	-2	-19	-52	-121	-12	-109	-169	-392	-35	36	0	0	0	0	0	0	-40	-924	-30	-482	-182	-3,062	0	-3,000	0	0
Stock Based Compensation	297	346	711	136	235	186	225	329	434	655	538	517	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	400
Total Cash From Financing Activities	-2,547	3,489	1,326	131	-1,971	201	-5,134	3,409	-659	1,525	1,225	-1,373	-1,485	376	-743	-279	834	2,346	-1,873	867	-454	-11,540	1,987	-7,904	1,133	2,100	-2,900	23,500	-200
Total Cash From Operating Activities	6,821	-5,044	2,629	8,801	6,147	2,050	6,772	1,343	4,890	2,097	2,878	3,445	3,535	260	1,411	2,249	12	-2,470	3,425	1,384	3,358	12,712	-243	6,333	-4,973	-3,400	-2,800	-1,700	-300
Total Cashflows From Investing Activities	0	-1,797	-1,722	-1,600	-1,378	-855	-1,448	-1,956	-1,575	-1,701	-2,535	-1,758	-1,252	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2024-03-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31	1997-12-31	1997-09-30	1997-06-30	1997-03-31	1996-12-31	1996-09-30	1996-06-30	1996-03-31
Begin Period Cash Flow	7,960	10,916	11,253	12,121	12,121	12,402	14,061	15,300	15,300	16,701	19,713	15,972	15,750	13,676	9,110	7,372	7,372	7,826	7,090	6,988	6,988	5,836	8,862	7,662	7,662	8,309	8,273	7,502	7,502	5,027	7,033	5,718	6,210	5,726	4,292	5,622	5,622	4,699	4,236	2,814	3,111	3,051	3,388	1,929	1,929	1,722	1,666	1,705	1,638	1,264	1,473	923	857	952	983	2,040	2,040	1,466	1,366	2,051	2,051	2,245	2,409	1,246	1,503	1,601	2,132	1,892	1,892	1,655	1,312	1,813	1,813	1,158	277	236	236	-49	0	7	0	0	0	0	0	0	0	0	0	0	0	0	1,631	1,048	1,314	2,400	3,600	7,400	11,100	600	100	8,300	13,000	0	0	19,600	19,500	0	0	23,600	200
Capital Expenditures	159	366	374	560	560	443	316	290	290	542	558	332	352	462	444	342	1,378	443	471	282	282	389	464	402	402	406	356	402	402	421	360	372	337	333	321	242	242	410	316	358	260	308	394	294	294	256	209	239	366	180	76	188	237	413	459	291	291	173	181	124	124	865	79	146	175	210	83	153	153	158	105	240	240	131	151	246	246	190	523	301	100	390	545	421	813	199	66	536	1,744	108	804	476	1,941	449	555	8,605	6,600	0	100	100	100	100	200	400	200	100	100	0	100	100	100
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	-3,012	3,741	222	2,074	4,566	-1,348	3,086	-454	736	-21	123	1,152	-3,026	35	1,165	-647	36	949	-178	2,475	-2,006	1,315	-492	484	1,434	-90	-1,240	923	463	1,422	-297	60	-337	1,596	-137	207	56	-39	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	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
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	-1,190	1,387	537	-2,859	512	107	2,178	-1,498	278	-1,390	1,006	227	-191	-190	-813	700	-1,339	56	247	1,534	-1,173	-466	-41	-261	-406	646	-266	53	-426	326	-134	-556	731	-679	1,033	-638	132	-76	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	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
Change In Cash	2,759	-2,956	-337	-2,776	-2,776	-281	-1,659	-1,827	-1,827	-1,401	-3,012	3,741	222	2,074	4,566	3,086	3,086	-454	736	123	123	1,152	-3,026	1,165	1,165	-647	36	-178	-178	2,475	-2,006	1,315	-492	484	1,434	-1,240	-1,240	923	463	1,422	-297	60	-337	-137	-137	207	56	-39	67	374	-209	550	66	-95	-31	-381	-381	574	100	-366	-366	-194	-164	1,163	-257	-98	-531	-744	-744	237	343	101	101	655	881	651	651	285	0	0	7	0	0	0	0	-5,033	1,840	-2,048	0	4,164	-139	-5,061	0	583	-266	-326	-1,200	-3,800	-3,700	2,000	600	100	-4,700	-800	-3,900	-3,000	100	300	-2,600	-200	23,400
Change In Working Capital	2,143	-6,984	1,811	-4,295	-4,295	-2,435	-3,042	-476	-476	-2,724	-3,664	-507	-2,417	-5,479	4,543	4,033	806	-906	-5,959	3,081	-1,550	5,064	-8,470	-1,588	1,579	1,402	-3,873	-1,560	1,221	291	-5,215	3,724	-2,530	403	1,338	-4,486	1,636	2,687	-3,300	2,004	-3,753	-529	-1,323	-2,967	1,525	-87	-902	2,083	-840	-371	732	798	1,613	348	2,174	237	237	450	321	-2,572	158	1,142	-104	2,625	-5,780	-1,433	-1,596	-3,745	-1,520	-1,245	228	-2,254	924	-761	574	-2,246	55	-796	5,144	1,309	2,259	3,186	-1,983	-1,649	-48	3,434	-3,304	623	0	-5,616	-344	3,178	0	-2,154	1,716	-1,966	-9,300	500	-500	2,400	1,200	1,100	-4,400	5,100	-4,200	-5,300	-1,300	300	1,000	-100	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	-4,277	-6,100	377	-4,646	5,389	1,015	8,087	-138	-9,873	-1,236	-1,446	704	-1,446	-7,108	827	-4,312	-2,424	3,486	-2,259	-4,065	-3,617	3,039	-1,452	1,507	1,551	1,186	-4,405	2,411	-3,838	1,043	-2,787	658	-1,268	2,909	-3,767	-370	-2,685	792	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	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
Change To Account Receivables	5,195	-3,168	598	1,046	1,046	-2,845	-3,658	5,036	5,036	-1,964	-4,277	-6,100	377	-4,646	5,389	8,087	8,087	-138	-9,873	-1,446	-1,446	704	-1,446	827	827	-4,312	-2,424	-2,259	-2,259	-4,065	-3,617	3,039	-1,452	1,507	1,551	-4,405	-4,405	2,411	-3,838	1,043	-2,787	658	-1,268	-3,767	-3,767	-370	-2,685	792	-2,746	1,253	0	0	-3,790	0	0	2,997	2,997	0	0	638	638	0	0	0	-766	0	0	-2,326	0	0	0	0	650	0	0	1,456	2,635	5,976	6,199	2,541	2,516	1,456	0	0	3,729	2,774	60	2,763	13	0	3,968	1,066	4,706	3,611	3,608	414	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	-757	0	0	0	0	0	0	253	0	-25,230	-27,180	-20,198	-25,888	-22,358	-16,159	-19,243	0	-18,463	-11,745	-5,852	0	-10,753	-31,433	-16,487	0	-9,281	-11,856	-10,760	0	-5,603	-16,717	-14,218	-17,210	-15,124	-15,758	-16,852	0	-14,304	-16,150	-12,416	-11,190	-8,798	-8,708	-10,407	0	-7,400	-6,278	-7,926	-5,565	0	0	0	2,324	0	0	517	0	0	0	-4,366	0	0	0	0	-6,662	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	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	0	0	-1,990	2,295	1,558	-145	-1,213	-961	1,885	5,157	-518	2,772	-518	-1,198	-6,892	1,212	4,707	1,579	3,521	4,133	-6,833	5,629	-1,602	5,014	-110	2,009	452	2,822	-425	1,151	-1,037	-843	193	-1,148	185	223	964	635	-840	-745	-737	2,133	56	898	1,690	1,367	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	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
Change To Netincome	0	0	0	0	4,779	1,326	858	785	4,746	-1,296	1,232	168	-604	209	90	69	667	572	-165	36	53	106	53	85	1,706	73	118	80	-341	384	156	48	-100	467	127	121	-1,628	262	158	276	-2,037	202	162	122	-21	139	124	153	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	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
Change To Operating Activities	0	0	0	0	-3,351	-1,885	-942	958	-4,299	201	-1,272	4,209	-2,276	-2,369	1,102	-1,427	-1,836	-1,862	3,570	-1,121	6,765	3,414	-7,660	4,927	2,105	3,636	-36	56	2,292	0	0	0	-1,792	0	0	0	1,950	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	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	0	0	0	0
Depreciation	869	981	361	1,155	-45	507	507	1,630	1,630	509	534	530	2,569	530	-183	-33	-33	1,007	1,601	514	514	523	530	600	600	487	534	641	641	487	484	488	491	470	476	493	493	430	418	412	396	389	408	299	299	298	293	277	261	280	265	0	1,018	229	0	1,081	0	271	267	939	0	1	221	0	768	180	1	746	0	170	183	0	0	0	0	394	394	275	368	362	367	385	399	378	499	467	461	976	0	983	968	1,117	0	809	837	982	600	300	300	300	200	300	300	300	200	300	200	0	200	200	100
Dividends Paid	304	0	0	304	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,451	0	0	463	97	0	0	2,101	0	0	0	286	12	288	41	0	110	0	0	0	0	0	0	165	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	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
End Period Cash Flow	10,719	7,960	10,916	9,345	9,345	12,121	12,402	13,473	13,473	15,300	16,701	19,713	15,972	15,750	13,676	10,458	10,458	7,372	7,826	7,111	7,111	6,988	5,836	8,827	8,827	7,662	8,309	7,324	7,324	7,502	5,027	7,033	5,718	6,210	5,726	4,382	4,382	5,622	4,699	4,236	2,814	3,111	3,051	1,792	1,792	1,929	1,722	1,666	1,705	1,638	1,264	1,473	923	857	952	1,659	1,659	2,040	1,466	1,685	1,685	2,051	2,245	2,409	1,246	1,503	1,601	1,148	1,148	1,892	1,655	1,914	1,914	1,813	1,158	887	887	236	0	0	7	0	0	0	0	0	0	0	0	0	0	0	0	1,631	1,048	2,074	2,400	3,600	7,400	2,000	600	100	8,300	-800	-3,900	-3,000	19,600	300	-2,600	-200	23,600
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	482	-1,901	2,072	86	-62	-3,914	1,096	-769	73	149	251	-2,326	-638	-399	616	-95	577	215	-518	71	-171	-572	-198	-488	-118	-516	-99	-297	41	2	-69	54	-352	-179	-201	155	-141	-40	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	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
Free Cash Flow	5,022	-5,470	3,434	-1,442	-1,442	-1,077	-846	1,220	1,220	-432	-1,942	2,061	1,226	-2,011	6,873	4,575	4,575	2,311	-2,191	3,995	3,995	6,984	-9,447	-42	-42	2,143	-2,803	-1,154	-1,154	1,228	-4,333	4,047	-540	1,115	1,882	-2,647	-2,647	3,540	-2,236	2,114	-2,208	163	-1,040	-1,197	-1,197	930	-19	2,733	782	-223	108	2,058	253	59	-1,325	-867	-867	42	161	-1,174	-1,174	160	-180	2,229	-3,260	-871	631	-2,740	-2,740	-35	73	-491	-491	500	439	-1,619	-1,619	-518	1,680	581	747	2,749	-1,180	-414	5,097	4,012	-1,840	2,048	0	-4,164	139	5,123	4,392	-1,693	2,111	-8,978	7,400	-1,800	-3,700	-900	600	1,100	-4,700	-1,100	-3,700	-1,000	2,200	3,500	-2,600	-2,800	-200
Investments	0	-366	-374	-343	-560	-443	-316	-478	710	-1,546	-554	-332	-352	-462	-444	-342	0	-443	-471	-464	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-375	375	0	0	1,301	-1,501	0	1,521	360	400	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	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
Issuance Of Capital Stock	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	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	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	0	0	0	0	0	0
Net Borrowings	0	0	0	0	-1,352	1,808	2,614	4,825	-3,086	2,442	-1,553	3,646	-3,076	4,001	-2,245	1,453	-2,566	-1,996	2,854	-244	-2,672	-3,454	7,059	1,234	686	-2,607	2,294	-3,198	1,583	1,373	2,495	-1,874	241	214	-271	-434	1,954	-1,829	2,676	-712	1,846	-105	1,129	-1,377	1,600	-551	213	-2,737	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	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
Net Income	2,137	1,098	1,106	-1,843	-2,521	901	1,614	-3,052	-3,052	2,139	1,132	1,781	4,290	2,445	1,305	-92	-626	2,081	2,803	629	-533	1,680	-1,096	-358	-1,269	587	774	508	89	487	602	159	1,936	108	262	3,216	2,678	571	804	-220	3,454	523	58	1,497	1,327	859	636	459	1,192	247	509	253	1,194	325	612	304	304	157	236	466	466	-117	3	-250	1,450	-1,747	-1,738	-105	-105	-1,393	100	734	734	-1,141	116	551	487	149	-12,178	-790	-2,080	-345	608	1,278	2,535	1,212	1,069	-3,287	0	577	319	692	691	101	113	305	5,000	-2,500	-3,300	-3,000	-400	100	-1,000	-6,500	-5,500	-1,900	-1,200	1,400	1,300	200	900
Other Cashflows From Financing Activities	1	32,333	18,871	-3,379	-4,343	11,266	2,614	-2,473	-3,048	2,624	-1,556	3,581	-2,743	4,791	-1,786	-2,412	-2,412	-1,966	12,497	-3,773	-3,773	-3,488	7,078	699	788	-2,344	2,552	1,580	1,592	1,501	2,506	-2,154	163	-48	-324	1,364	1,533	-1,770	2,717	-653	2,115	16	1,120	4,456	-1,192	73	429	5	133	2,545	-85	351	-440	-215	2,375	460	-229	1,274	-181	737	737	-499	39	-1,097	2,715	758	-1,229	1,645	2,069	280	279	577	577	94	300	1,926	1,926	912	-1,785	-196	-588	-1,976	2,080	469	-4,364	-5,103	1,831	-2,048	0	4,164	-139	-5,064	0	584	-2,376	1,533	1,600	-2,000	-100	2,000	-100	100	-200	-100	-400	-3,000	-100	-2,200	-100	-100	-3,400
Other Cashflows From Investing Activities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	767	767	767	767	0	0	0	0	-95	-306	0	0	0	0	0	0	0	0	0	0	65	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	0	0	0	0	0	0	0	0	0	1,021	0	0	0	0	0	0	1,500	1,500	1,500	1,439	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-984	-156	329	3,346	0	88	261	3,467	3,200	4	361	421	-2,234	746	840	-195	0	482	-1,644	91	0	1,090	300	20	0	-185	474	30	0	841	380	258	-21	569	254	-47	0	291	262	173	17	-114	49	361	0	258	-43	152	535	-199	-1,322	1,195	-3,335	-430	-3,652	-2,198	0	-663	-215	117	0	-1	-36	0	477	2,339	4,047	517	0	2,591	-333	1,269	0	2,533	-100	-9	0	3	8,869	1	686	0	341	0	2,924	-902	0	4,272	0	-2	0	612	0	1	0	306	4,500	-100	-100	-500	-300	-300	600	400	6,000	700	3,300	2,100	-4,000	-3,100	-1,000
Sale Purchase Of Stock	0	0	0	-181	0	0	0	0	0	0	-3	-65	0	-2	0	0	-19	0	0	0	0	-52	0	89	2	-89	-32	12	1	-12	3	0	89	-89	-18	169	1	-148	-21	18	-160	-147	-74	-11	-11	73	3	5	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	-373	-473	-78	-19	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
Stock Based Compensation	80	83	-39	-239	-239	305	130	208	208	221	183	99	24	17	70	70	0	65	51	47	0	75	15	47	0	48	75	58	0	88	95	88	128	98	106	121	0	159	123	252	100	182	131	101	0	139	124	153	0	0	0	0	0	0	0	0	0	0	-340	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-64	0	61	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
Total Cash From Financing Activities	-1,504	2,816	-3,704	-5,758	-5,758	1,808	2,614	-3,048	-3,048	2,349	-1,556	3,581	-3,076	3,999	-2,245	-2,585	-2,585	-1,996	2,854	-4,123	-4,123	-3,506	7,059	591	591	-2,695	2,262	1,589	1,589	1,482	2,498	-2,160	246	-143	-330	1,506	1,506	-1,945	2,658	-694	1,715	-177	1,055	1,621	1,621	-478	216	-2,732	-637	1,003	-317	-1,534	-205	-247	1,386	369	369	637	-192	782	782	-37	39	-1,063	3,014	758	-1,229	2,069	2,069	280	279	489	489	155	382	1,926	1,926	803	-1,734	-128	-301	-2,183	1,616	414	-4,076	-5,033	1,840	-2,048	1,987	4,164	-139	-5,061	0	583	-2,376	1,533	1,600	-2,000	0	2,000	0	100	0	0	0	-3,000	100	300	0	-200	23,400
Total Cash From Operating Activities	5,181	-5,104	3,808	-882	-882	-634	-530	1,510	1,510	110	-1,384	2,393	1,578	-1,549	7,317	4,575	4,575	2,754	-1,720	4,277	4,277	7,373	-8,983	360	360	2,549	-2,447	-752	-752	1,649	-3,973	4,419	-203	1,448	2,203	-2,405	-2,405	3,950	-1,920	2,472	-1,948	471	-646	-903	-903	1,186	190	2,972	1,148	-43	184	2,246	490	472	-866	-576	-576	215	342	-1,050	-1,050	1,025	-101	2,375	-3,085	-661	714	-2,587	-2,587	123	178	-251	-251	631	590	-1,373	-1,373	-328	2,203	882	847	3,139	-635	7	5,910	4,211	-1,774	2,584	0	-4,056	943	5,599	6,333	-1,244	2,666	-373	800	-1,800	-3,600	-800	700	1,200	-4,500	-700	-3,500	-900	2,300	3,500	-2,500	-2,700	-100
Total Cashflows From Investing Activities	0	0	0	0	-560	-443	-316	-478	710	-1,546	-554	-332	-352	-462	-444	-342	-342	-443	-471	-464	-282	-389	-464	280	-402	-406	-356	-284	-497	-727	-360	-372	-337	-333	-321	-584	-242	-785	-316	-358	5	-288	-394	-1,858	-654	-656	-209	-239	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	0	0	662	0	0	0	0	0	0	0	35	422	978	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Cost Of Revenue	209,268	210,256	208,197	185,329	203,626	184,904	144,601	104,781	90,015	91,671	84,361	75,531	51,028	42,165	40,019	48,688	41,468	37,463	31,939	33,644	42,338	40,331	40,883	72,970	81,288	105,400	119,800	94,900	81,200
Depreciation And Amortization	2,876	2,679	3,713	4,420	2,456	2,109	2,126	2,100	1,905	1,753	1,496	1,167	1,069	1,018	1,081	939	768	746	1,031	1,399	1,529	1,844	3,847	3,564	2,182	1,100	1,000	500	600
Discontinued Operations	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
Ebit	9,806	8,326	4,183	9,722	10,191	4,135	4,491	2,330	3,508	3,581	3,203	4,130	2,885	2,831	322	2,141	-1,947	-1,062	631	-4,649	262	8,607	8,053	1,790	4,135	-5,300	-8,800	4,400	5,900
Ebitda	12,682	11,005	7,896	14,142	12,647	6,244	6,617	4,430	5,413	5,334	4,699	5,297	3,954	3,849	1,403	3,080	-1,179	-316	1,662	-3,250	1,791	10,451	11,900	5,354	6,317	-4,200	-7,800	4,900	6,500
Effect Of Accounting Charges	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
Extraordinary Items	0	0	0	0	0	0	-1,841	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	53,479	51,012	47,522	45,188	49,250	44,287	36,780	29,543	29,264	30,350	27,598	27,235	22,496	20,989	17,530	20,923	19,248	19,853	19,647	17,726	22,521	29,281	30,008	36,559	35,237	16,400	8,400	25,000	23,600
Income Before Tax	7,133	4,903	4,108	9,274	9,411	3,040	4,154	2,197	3,294	3,423	3,032	4,001	2,699	2,542	726	471	-2,340	-623	1,288	-11,502	-481	8,296	7,278	1,244	2,653	-4,200	-17,900	6,200	5,300
Income Tax Expense	2,357	2,777	2,108	312	3,578	1,402	2,977	441	819	-948	-1,118	550	362	263	169	532	157	99	242	853	58	2,998	3,123	-78	3,148	100	-2,800	2,400	1,800
Interest Expense	1,919	965	585	690	1,046	1,095	337	133	214	158	171	129	197	310	178	328	315	237	191	0	269	0	0	2,126	0	0	0	0	0
Interest Income	0	0	0	0	1,046	1,095	337	133	214	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-2,895	-2,858	-3,779	16,463	3,414	3,189	2,100	1,583	1,583	1,103	898	521	123	112	55	0	47	0	168	0	0	0	0	0	0	0	0	0	0
Net Income	3,902	2,126	2,000	8,962	5,833	-1,551	-923	173	892	3,268	3,350	2,930	2,214	2,167	502	102	-2,544	-621	878	-12,268	-539	5,298	-1,714	1,322	-495	-4,300	-15,100	3,800	3,500
Net Income Applicable To Common Shares	0	-732	-1,779	3,367	2,419	-1,551	-923	173	892	2,165	2,354	4,030	2,214	2,167	502	102	0	0	878	0	0	5,298	4,155	1,322	0	0	0	0	0
Net Income From Continuing Ops	2,138	2,126	2,000	8,962	1,903	-199	-1,521	173	892	3,268	3,252	4,551	2,337	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-1,618	-965	-585	-690	-1,046	-1,095	-337	-133	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	242	266	406	401	128	243	292	299	123	11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	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
Operating Income	9,806	8,326	4,183	9,722	10,191	3,729	4,090	2,202	3,265	3,289	2,904	4,007	2,885	2,831	322	1,470	-1,986	-724	1,055	-12,036	25	8,633	7,946	2,580	4,225	-4,700	-13,300	5,300	5,900
Other Items	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
Other Operating Expenses	252,941	253,424	247,058	220,795	242,685	225,462	177,291	132,122	116,014	118,732	109,055	98,759	70,639	60,323	57,227	68,141	62,702	58,040	50,531	63,406	64,834	60,979	62,945	106,949	112,300	126,500	141,500	114,600	98,900
Preferred Stock And Other Adjustments	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
Reconciled Depreciation	2,573	2,679	3,203	4,178	3,083	2,109	2,126	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	1,200	1,200	1,200	1,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	19,549	9,298	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
Selling General Administrative	43,528	21,586	27,480	33,336	36,869	38,449	30,564	25,241	24,094	25,308	23,198	22,061	18,542	17,140	16,127	18,514	20,466	19,831	17,561	19,742	20,967	18,804	19,380	30,415	0	0	0	0	0
Tax Provision	2,641	2,777	2,108	312	3,578	1,402	2,977	441	819	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	43,673	43,168	38,861	35,466	39,059	40,558	32,690	27,341	25,999	27,061	24,694	23,228	19,611	18,158	17,208	19,453	21,234	20,577	18,592	29,762	22,496	20,648	22,062	33,979	31,012	21,100	21,700	19,700	17,700
Total Other Income Expense Net	-2,673	-3,423	-75	-448	-780	406	401	128	243	292	299	123	11	21	582	-671	-39	338	424	-7,387	-237	26	-107	790	90	600	-4,500	900	-600
Total Revenue	262,747	261,268	255,719	230,517	252,876	229,191	181,381	134,324	119,279	122,021	111,959	102,766	73,524	63,154	57,549	69,611	60,716	57,316	51,586	51,370	64,859	69,612	70,891	109,529	116,525	121,800	128,200	119,900	104,800

	2024-03-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31	1997-12-31	1997-09-30	1997-06-30	1997-03-31	1996-12-31	1996-09-30	1996-06-30	1996-03-31	1995-12-31	1995-09-30	1995-06-30	1995-03-31
Cost Of Revenue	50,653	53,960	52,840	50,242	51,252	56,992	54,851	49,377	49,377	54,813	55,170	48,838	47,851	46,849	41,072	49,010	49,012	53,929	54,159	44,750	44,750	46,546	48,759	39,038	39,038	39,960	33,765	35,472	35,472	26,162	22,705	20,442	23,808	21,555	22,299	22,938	22,938	23,703	23,225	21,806	23,109	21,228	21,883	22,717	22,718	19,899	17,635	15,278	16,344	12,515	10,987	11,186	12,175	10,730	10,403	9,262	9,262	10,373	9,310	10,248	10,248	12,237	13,719	12,484	11,730	10,483	8,757	9,610	9,610	8,856	9,142	7,525	7,525	7,595	8,169	9,170	9,170	6,963	8,716	8,694	8,561	11,380	11,146	11,251	9,229	10,760	10,591	-12,890	10,606	18,958	15,990	16,721	16,708	14,105	19,177	28,388	24,500	19,600	20,100	21,200	26,200	28,200	29,800	32,300	31,500	29,600	26,400	26,300	26,500	21,700	20,300	-	-	-	-
Depreciation And Amortization	869	981	361	723	0	633	656	510	510	509	534	530	2,569	530	-183	627	-33	1,007	1,601	514	514	522	531	600	600	487	534	641	641	487	484	488	491	470	476	493	493	430	418	412	396	389	408	299	299	298	293	277	261	280	265	262	293	229	237	281	0	271	267	271	0	239	221	208	197	180	194	181	0	170	183	219	0	261	272	394	394	275	368	362	367	385	399	378	499	467	461	976	0	983	968	1,117	0	809	837	982	600	300	300	300	200	300	300	300	200	300	200	-300	200	200	100	-	-	-	-
Discontinued Operations	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	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	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	0	0	0	0	0	0	-	-	-	-
Ebit	3,118	1,705	2,255	3,150	2,241	1,720	2,357	-2,797	-4,134	2,812	1,882	2,793	2,980	3,484	2,735	1,184	648	3,058	4,422	1,905	743	2,433	970	1,931	1,021	906	1,106	771	352	508	860	192	2,347	238	546	1,925	1,387	636	1,078	-58	2,230	395	330	1,907	1,737	936	781	470	1,530	401	555	397	1,651	365	775	122	0	319	13	294	0	719	981	147	1,391	-1,329	-1,742	215	0	-1,124	-683	202	0	-1,010	104	647	557	-1,356	-2,721	-1,219	-2,487	-484	1,028	2,205	3,737	2,009	1,868	4,291	0	1,243	861	764	0	698	714	-3,465	4,000	-2,700	-3,600	-3,000	-800	100	-1,300	-5,300	2,200	-3,200	-2,500	1,900	1,600	-100	1,500	-	-	-	-
Ebitda	3,987	2,686	2,616	3,873	2,208	2,353	3,013	-2,287	-3,624	3,321	2,416	3,323	5,549	4,014	2,552	1,811	615	4,065	6,023	2,419	1,257	2,955	1,501	2,531	1,621	1,393	1,640	1,412	993	995	1,344	680	2,838	708	1,022	2,418	1,880	1,066	1,496	354	2,626	784	738	2,206	2,036	1,234	1,074	747	1,791	681	820	659	1,944	594	1,012	403	250	590	280	565	994	958	1,202	355	1,588	-1,149	-1,548	396	-103	-954	-500	421	1,020	-749	376	1,041	951	-1,081	-2,353	-857	-2,120	-99	1,427	2,583	4,236	2,476	2,329	5,267	0	2,226	1,829	1,881	0	1,507	1,551	-2,483	4,600	-2,400	-3,300	-2,700	-600	400	-1,000	-5,000	2,400	-2,900	-2,300	1,600	1,800	100	1,600	-72,600	28,200	26,300	24,000
Effect Of Accounting Charges	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	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	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	0	0	0	0	0	0	-	-	-	-
Extraordinary Items	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	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	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	0	0	0	0	0	0	-	-	-	-
Gross Profit	14,446	13,373	13,096	14,138	13,391	12,840	12,948	10,646	10,646	12,610	12,006	12,259	11,509	12,016	9,872	12,043	12,041	12,511	14,064	12,250	12,250	11,842	10,465	10,982	10,982	8,792	8,957	9,071	9,071	7,276	7,027	6,169	8,468	6,714	7,168	9,114	9,114	7,306	7,699	6,230	8,698	6,525	6,813	8,236	8,235	6,524	6,708	5,769	7,255	5,049	4,957	5,232	6,564	4,944	5,211	4,929	4,929	4,335	4,168	5,728	5,728	5,034	5,191	4,970	6,702	3,882	3,749	6,229	6,229	3,853	3,777	5,680	5,680	3,465	4,631	6,782	6,782	3,720	3,217	4,109	3,594	5,235	6,205	7,488	9,020	7,015	6,951	5,215	30,008	8,421	7,519	9,740	36,559	8,227	9,113	10,237	11,900	1,600	1,500	2,100	3,600	5,700	4,900	900	2,500	2,000	3,000	6,900	7,100	5,200	6,000	26,300	28,200	26,300	24,000
Income Before Tax	1,347	1,325	1,644	2,818	-508	1,576	2,328	-2,981	-2,981	2,688	1,753	2,646	2,772	3,315	1,929	743	741	2,842	4,235	1,696	1,696	2,100	-1,359	1,711	1,712	796	1,052	749	749	457	829	164	2,320	190	464	1,895	1,895	592	1,037	-101	2,136	367	309	1,874	1,874	932	694	501	1,482	376	533	307	1,515	406	620	139	139	371	223	608	608	25	-142	-20	1,299	-1,549	-1,693	-268	-268	-1,285	93	933	933	-1,039	97	534	534	161	-10,941	-1,255	-2,965	-553	976	2,061	3,989	1,801	1,726	4,658	3,762	928	528	64	63	231	209	5,115	-2,900	-2,500	-3,400	-2,800	-500	100	-1,100	-4,900	-8,300	-2,700	-2,000	2,200	2,200	300	1,500	-	-	-	-
Income Tax Expense	551	227	538	1,041	835	676	715	72	72	549	621	865	-1,518	870	624	833	833	760	1,428	1,067	1,067	419	-262	2,069	2,070	210	278	241	241	-31	226	5	385	83	200	-1,321	-1,321	21	233	119	-1,318	-139	250	376	377	73	58	42	290	17	29	24	189	40	17	-77	-77	24	73	528	528	25	-185	164	-63	79	74	-73	-73	73	54	197	197	15	15	70	70	15	1,236	-465	-885	-208	368	783	1,454	588	657	2,076	1,718	349	209	-628	-131	131	96	520	3,400	-100	-200	100	-200	200	-200	1,600	-2,800	-800	-800	800	900	100	600	-1,100	-1,000	-700	-700
Interest Expense	671	380	478	390	371	270	178	184	184	124	129	147	208	169	84	441	441	216	187	209	209	333	354	220	220	110	54	22	22	51	31	28	27	47	82	30	30	44	41	43	91	28	20	33	33	33	12	51	37	55	24	81	172	36	67	23	23	49	45	236	74	92	81	81	222	66	93	75	75	65	46	89	89	29	33	40	93	29	64	34	60	69	72	68	132	145	38	48	109	126	173	708	708	467	495	456	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Interest Income	0	0	0	0	371	0	0	0	0	0	0	0	0	0	0	228	441	216	187	201	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Minority Interest	0	-839	-467	-911	-678	-932	-464	-780	-1,338	-959	16,580	864	16,463	1,301	11,951	624	533	1,175	1,284	8,926	1,162	1,060	666	301	911	340	431	418	419	546	320	298	906	199	235	243	539	189	227	149	348	192	189	169	170	281	-82	152	12	112	-5	30	132	41	0	0	-135	190	-40	40	-117	117	40	66	-72	119	-45	45	-33	33	-17	17	2	89	-111	111	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	-	-	-	-
Net Income	2,137	259	639	1,777	-351	900	1,613	-4,390	-4,390	1,180	514	917	2,030	1,144	-103	-624	-626	907	1,523	-533	-533	621	-1,763	-1,269	-1,269	246	343	89	89	-58	283	-139	1,028	-92	29	2,678	2,678	383	577	-369	3,106	331	-130	1,327	1,327	578	718	307	1,206	247	509	253	1,194	325	612	304	304	157	236	466	466	-117	3	-250	1,450	-1,747	-1,739	-105	-105	-1,392	100	734	734	-1,142	116	487	487	210	-12,177	-790	-2,080	-345	608	1,278	2,535	1,213	1,069	-3,287	-577	579	319	692	691	100	113	305	-2,800	-2,500	-3,300	-3,000	-400	100	-1,000	-6,500	-5,500	-1,900	-1,200	1,400	1,300	200	900	1,100	1,000	700	700
Net Income Applicable To Common Shares	0	0	639	0	-2,521	-32	1,149	674	-4,390	1,180	514	917	2,030	1,144	-103	298	-630	907	1,523	616	-533	621	-1,763	124	-1,268	246	343	-244	87	-58	283	-139	1,029	-92	29	-74	2,138	195	350	-518	1,564	122	370	298	2,427	578	718	307	1,206	247	509	253	1,194	325	612	36	304	157	236	0	466	-3	3	0	1,450	0	0	0	0	-100	100	777	734	-116	116	1,169	487	213	0	0	0	-608	608	1,278	2,535	1,212	1,069	482	2,044	1,041	703	367	691	101	114	416	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Net Income From Continuing Ops	0	1,098	1,106	1,777	327	900	1,613	1,454	-3,053	2,139	1,132	2,554	4,290	1,119	1,305	2,742	-1,404	1,267	1,449	591	-815	1,950	-1,488	154	-1,532	268	85	-342	87	-58	283	-139	1,029	-92	29	-74	2,677	383	577	-369	1,912	314	559	467	2,597	859	636	459	0	359	504	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	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	-	-	-	-
Net Interest Income	0	-380	-478	-390	371	-270	-178	-149	-184	-124	-129	-147	-208	-169	-84	-228	-441	-216	-187	-199	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Non Operating Income Net Other	0	0	125	0	0	0	0	0	0	0	-5	75	41	143	50	8	-2	11	192	65	-7	109	232	72	126	78	135	62	-54	78	80	24	173	8	33	29	90	89	68	45	221	5	60	13	87	29	-75	82	0	30	2	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	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	-	-	-	-
Non Recurring	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	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	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	0	0	0	0	0	0	-	-	-	-
Operating Income	3,118	1,541	1,997	3,150	1,698	1,720	2,357	-3,098	-3,098	2,675	1,887	2,718	2,939	3,341	1,963	1,186	1,184	3,047	4,230	1,912	-63	2,324	-1,237	1,806	1,806	828	971	826	826	430	780	168	2,172	229	513	1,835	1,835	547	1,010	-103	2,001	390	269	1,820	1,820	936	781	470	1,530	401	555	397	1,651	365	775	122	122	319	13	488	488	418	460	104	1,379	-1,406	-1,671	11	11	-1,172	-272	612	612	-1,010	117	637	637	-583	-10,870	-1,220	-2,696	-484	1,038	2,167	3,929	1,977	1,816	4,291	3,978	1,243	860	768	767	698	708	825	500	-2,600	-3,500	-2,900	-700	-100	-1,200	-5,100	-3,100	-3,000	-2,200	1,900	1,900	200	1,500	-72,600	28,200	26,300	24,000
Other Items	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	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	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	0	0	0	0	0	0	-	-	-	-
Other Operating Expenses	61,981	65,792	63,939	61,230	0	68,112	65,442	58,643	58,133	64,748	65,289	58,379	56,421	55,524	48,981	59,867	59,869	63,393	63,993	57,063	57,063	56,064	58,486	48,214	48,214	47,924	41,751	43,717	43,717	33,008	28,952	26,443	30,104	28,040	28,954	30,217	30,217	30,462	29,914	28,139	29,806	27,363	28,427	29,133	29,133	25,487	23,562	20,577	22,069	17,163	15,389	16,021	17,088	15,309	14,839	14,069	14,069	14,389	13,465	15,488	15,488	16,853	18,450	17,350	17,053	15,771	14,177	15,828	15,828	13,881	13,191	12,593	12,593	12,070	12,683	15,315	15,315	11,266	22,803	14,023	14,851	17,099	16,313	16,572	14,320	15,798	15,726	11,966	0	26,136	22,649	25,693	0	21,634	27,582	37,800	35,900	23,800	25,100	26,200	30,500	34,000	35,900	38,300	37,100	34,600	31,600	31,300	31,700	26,700	24,800	98,900	-	-	-
Preferred Stock And Other Adjustments	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	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	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	0	0	0	0	0	0	-	-	-	-
Reconciled Depreciation	0	981	361	665	510	507	507	510	1,630	509	534	530	2,569	530	-183	1,262	-33	1,007	1,601	514	514	523	530	600	600	487	534	641	641	487	484	488	491	470	476	493	493	430	418	412	396	389	408	299	299	298	293	277	261	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	394	394	275	368	362	367	385	399	378	499	467	461	976	0	983	968	1,117	0	809	837	982	600	300	300	300	200	300	300	300	200	300	200	0	200	200	100	-	-	-	-
Research Development	0	0	0	1,200	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	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	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	0	0	-	-	-	-
Selling And Marketing Expenses	0	0	0	19,549	0	0	0	0	0	0	0	0	1	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	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	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	-	-	-	-
Selling General Administrative	0	11,284	10,605	8,366	11,183	10,614	10,084	9,254	8,756	9,426	9,585	8,050	8,050	8,145	7,370	10,230	10,230	8,940	9,306	8,394	11,799	8,996	9,196	8,458	8,577	7,477	7,452	7,058	7,605	6,360	5,763	5,513	5,805	6,014	6,179	6,096	6,787	6,329	6,271	5,921	5,945	5,747	6,135	5,371	6,115	5,290	5,634	5,022	5,464	4,368	4,137	4,573	4,620	4,349	4,198	3,973	4,526	3,745	3,888	3,968	4,969	4,377	4,510	4,658	5,126	5,196	5,138	5,006	6,037	4,857	3,866	5,071	4,849	4,214	4,242	4,256	5,751	4,028	4,996	4,967	5,923	5,333	4,768	4,943	4,592	4,570	4,675	4,967	5,569	4,825	4,209	4,777	7,869	6,707	7,563	8,276	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Tax Provision	0	227	538	1,041	-835	676	715	551	72	549	621	865	-1,518	870	624	335	833	760	1,428	558	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-
Total Operating Expenses	11,328	11,832	11,099	10,988	62,945	11,120	10,591	9,266	8,756	9,935	10,119	9,541	8,570	8,675	7,909	10,857	10,857	9,464	9,834	12,313	12,313	9,518	9,727	9,176	9,176	7,964	7,986	8,245	8,245	6,846	6,247	6,001	6,296	6,485	6,655	7,279	7,279	6,759	6,689	6,333	6,697	6,135	6,544	6,416	6,415	5,588	5,927	5,299	5,725	4,648	4,402	4,835	4,913	4,579	4,436	4,807	4,807	4,016	4,155	5,240	5,240	4,616	4,731	4,866	5,323	5,288	5,420	6,218	6,218	5,025	4,049	5,068	5,068	4,475	4,514	6,145	6,145	4,303	14,087	5,329	6,290	5,719	5,167	5,321	5,091	5,038	5,135	924	0	7,178	6,659	8,972	0	7,529	8,405	9,412	11,400	4,200	5,000	5,000	4,300	5,800	6,100	6,000	5,600	5,000	5,200	5,000	5,200	5,000	4,500	-98,900	-	-	-
Total Other Income Expense Net	-1,771	164	125	-332	-2,577	-144	-29	-4,177	117	137	-5	75	41	143	50	-2	443	11	192	1,968	-1,759	109	-1,743	125	94	78	135	-55	77	78	80	24	175	8	33	90	-60	89	68	45	226	5	60	87	-54	29	-75	82	-11	30	2	-9	36	77	-88	40	-17	101	255	194	-120	-301	-521	-43	-12	-77	71	-204	279	-48	411	410	-321	-29	13	-10	103	773	-8,148	-1	-209	-69	10	-38	192	-32	-52	367	0	-315	-332	4	0	-467	-5	4,290	-3,400	100	100	100	200	200	100	200	-5,200	200	300	300	300	300	0	-	-	-	-
Total Revenue	65,099	67,333	65,936	64,380	64,643	69,832	67,799	60,023	60,023	67,423	67,176	61,097	59,360	58,865	50,944	61,053	61,053	66,440	68,223	57,000	57,000	58,388	59,224	50,020	50,020	48,752	42,722	44,543	44,543	33,438	29,732	26,611	32,276	28,269	29,467	32,052	32,052	31,009	30,924	28,036	31,807	27,753	28,696	30,953	30,953	26,423	24,343	21,047	23,599	17,564	15,944	16,418	18,739	15,674	15,614	14,191	14,191	14,708	13,478	15,976	15,976	17,271	18,910	17,454	18,432	14,365	12,506	15,839	15,839	12,709	12,919	13,205	13,205	11,060	12,800	15,952	15,952	10,683	11,933	12,803	12,155	16,615	17,351	18,739	18,249	17,775	17,542	-7,675	20,833	27,379	23,509	26,461	26,461	22,332	28,290	38,625	36,400	21,200	21,600	23,300	29,800	33,900	34,700	33,200	34,000	31,600	29,400	33,200	33,600	26,900	26,300	26,300	28,200	26,300	24,000

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	262,747
Cost of Revenue	-209,268
Gross Profit	53,479	53,479

Operating Income (+$)
Gross Profit	53,479
Operating Expense	-43,673
Operating Income	9,806	9,806

Operating Expense (+$)
Research Development	0
Selling General Administrative	43,528
Selling And Marketing Expenses	0
Operating Expense	43,673	43,528

Net Interest Income (+$)
Interest Income	0
Interest Expense	-1,919
Other Finance Cost	-301
Net Interest Income	-1,618

Pretax Income (+$)
Operating Income	9,806
Net Interest Income	-1,618
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	7,133	12,479 EBIT - interestExpense = 7,887 6,259 5,821
Interest Expense	1,919
Earnings Before Interest and Taxes (EBIT)	9,806	9,052
Earnings Before Interest and Taxes (EBITDA)	12,682

After tax Income (+$)
Income Before Tax	7,133
Tax Provision	-2,641
Net Income From Continuing Ops	2,138	4,492
Net Income	3,902
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	252,941
Total Other Income/Expenses Net	-2,673	1,618

Technical Analysis of SPAR Group Inc
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of SPAR Group Inc. The general trend of SPAR Group Inc is UNKNOWN with 0.0% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine SPAR Group Inc's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator State	Bullish trend		Bearish trend
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of SPAR Group Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 1.97 < 1.97 < 1.97.

The bearish price targets are: 1.44 > 1.44 > 1.4.

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SPAR Group Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of SPAR Group Inc. The current mas is .

Directionalities and relatives.

Moving Average	Amount of candles	Trend	Price +/-	vs. MA 50	vs. MA 100	vs. MA 200

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

SPAR Group Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of SPAR Group Inc.

SPAR Group Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of SPAR Group Inc. The current adx is .

SPAR Group Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of SPAR Group Inc.

SPAR Group Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of SPAR Group Inc.

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

SPAR Group Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of SPAR Group Inc.

SPAR Group Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of SPAR Group Inc.

SPAR Group Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of SPAR Group Inc.

SPAR Group Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of SPAR Group Inc.

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of SPAR Group Inc.

SPAR Group Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of SPAR Group Inc.

SPAR Group Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of SPAR Group Inc.

SPAR Group Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of SPAR Group Inc.

SPAR Group Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for SPAR Group Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-27	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-11-29	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2023-11-30	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2023-12-01	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2023-12-05	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-07	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-08	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2023-12-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-13	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2023-12-14	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-15	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2023-12-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2023-12-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-27	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-01-02	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-01-03	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-04	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-01-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-01-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-11	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-12	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-16	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-18	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-01-22	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-23	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-24	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-25	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-31	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-01	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-06	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-02-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-09	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-02-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-13	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-20	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-02-21	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-02-23	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-27	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-29	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-03-01	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-03-04	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-06	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-07	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-03-12	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-18	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-03-20	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-03-22	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-26	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-27	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-28	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-01	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-04-02	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-03	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-05	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-09	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-04-15	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-17	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of SPAR Group Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Open	Greater than	Close	1.770
Total			1/1 (100.0%)

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Quick analysis of SPAR Group Inc (30 sec.)

What can you expect buying and holding a share of SPAR Group Inc? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of SPAR Group Inc (5 min.)

$1.74

$1.72

$-50.75 - $5.44

$-49.02 - $7.16

2. Growth of SPAR Group Inc (5 min.)

Is SPAR Group Inc growing?

How much money is SPAR Group Inc making?

How much money comes from the company's main activities?

3. Financial Health of SPAR Group Inc (5 min.)

4. Comparing to competitors in the Specialty Business Services industry (5 min.)

Industry Rankings (Specialty Business Services)

What can you expect buying and holding a share of SPAR Group Inc? (5 min.)

What can you expect buying and holding a share of SPAR Group Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of SPAR Group Inc

About SPAR Group Inc

Financial Health

Valuation

1.1. Profitability of SPAR Group Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Specialty Business Services)

1.1.2. Return on Assets

Trends

Compared to industry (Specialty Business Services)

1.1.3. Return on Equity

Trends

Compared to industry (Specialty Business Services)

1.2. Operating Efficiency of SPAR Group Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Specialty Business Services)

1.2.2. Operating Ratio

Trends

Compared to industry (Specialty Business Services)

1.3. Liquidity of SPAR Group Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Specialty Business Services)

1.3.2. Quick Ratio

Trends

Compared to industry (Specialty Business Services)

1.4. Solvency of SPAR Group Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Specialty Business Services)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Specialty Business Services)

2. Market Valuation of SPAR Group Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Specialty Business Services)

SPAR Group Inc
Buy, Hold or Sell?