OTC · Financial Statements

American Defense Systems, Inc. (ADFS) Financial Statements

$0.00 OTC: ADFS Market Cap $9342

American Defense Systems, Inc. most recently reported annual revenue of $9.0M, net profit of $9.0M. Revenue declined at an average annual rate of 18.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

American Defense Systems, Inc.: Revenue fell from $25.0M in 2006 to $9.0M in 2011, a change of -64.0% over 5 years; net profit was positive in 3 of 6 reported years; operating margin moved from 9.8% to -37.9%, a shift of -47.8 percentage points; the most recent year shows net profit of $9.0M.

Income Statement — 6 Years (USD millions)

Metric	2006	2007	2008	2009	2010	2011
Revenue	$25.0M	$36.0M	$36.0M	$46.0M	$40.0M	$9.0M
Operating Expenses	$23.0M	$33.0M	$40.0M	$53.0M	$44.0M	$12.0M
Operating Profit	$2.0M	$3.0M	$-4.0M	$-7.0M	$-5.0M	$-3.0M
Operating Margin	9.8%	9.4%	-11.4%	-15.7%	-11.4%	-37.9%
Other Income	$0	$0	$2.0M	$-8.0M	$-4.0M	$10.0M
Interest	$0	$0	$1.0M	$5.0M	$3.0M	$0
Depreciation	$0	$0	$1.0M	$1.0M	$1.0M	$1.0M
Profit Before Tax	$3.0M	$4.0M	$0	$-15.0M	$-9.0M	$7.0M
Tax	$-20.7M	$10.3M	$205.3M	$-5.0M	$-42.3M	$0
Net Profit	$3.0M	$3.0M	$-2.0M	$-16.0M	$-9.0M	$9.0M
EPS	$0.08	$0.08	$-0.04	$-0.38	$-0.19	$0.17
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Dec '09	Mar '10	Jun '10	Sep '10	Dec '10	Mar '11	Jun '11	Sep '11	Dec '11	Mar '12	Jun '12	Sep '12
Revenue	$10.0M	$15.0M	$11.0M	$9.0M	$4.0M	$3.0M	$2.0M	$3.0M	$2.0M	$2.0M	$2.0M	$2.0M
Operating Expenses	$16.0M	$14.0M	$14.0M	$8.0M	$7.0M	$4.0M	$3.0M	$4.0M	$1.0M	$2.0M	$2.0M	$2.0M
Operating Profit	$-6.0M	$1.0M	$-3.0M	$1.0M	$-3.0M	$-1.0M	$-1.0M	$-2.0M	$1.0M	$0	$0	$0
Operating Margin	-59.6%	6.1%	-22.3%	6.2%	-88.7%	-50.0%	-73.8%	-58.8%	41.8%	-20.4%	-2.5%	-4.2%
Interest	$2.0M	$1.0M	$1.0M	$1.0M	$0	$0	$0	$0	$0	$0	$0	$0
Profit Before Tax	$-7.0M	$-1.0M	$-4.0M	$0	$-4.0M	$9.0M	$-1.0M	$-2.0M	$1.0M	$0	$0	$0
Tax	$-10.7M	$-123.7M	$-20.2M	$-228.1M	$0	$-31.2M	$-26.6M	$0	$0	$0	$0	$0
Net Profit	$-8.0M	$-1.0M	$-4.0M	$0	$-4.0M	$12.0M	$-2.0M	$-2.0M	$1.0M	$0	$0	$0
EPS	$-0.18	$-0.02	$-0.08	$-0.01	$-0.09	$0.22	$-0.03	$-0.03	$0.01	$-0.01	$0.00	$0.00

Over the 6 years reported for American Defense Systems, Inc., cash stood at $0 in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.67 times.

Balance Sheet — 6 Years (USD millions)

Metric	2006	2007	2008	2009	2010	2011
Total Assets	$13.0M	$24.0M	$25.0M	$18.0M	$10.0M	$3.0M
Current Assets	$12.0M	$21.0M	$17.0M	$11.0M	$5.0M	$2.0M
Cash	$5.0M	$1.0M	$1.0M	$0	$0	$0
Inventory	$0	$1.0M	$1.0M	$1.0M	$0	$0
Receivables	$4.0M	$7.0M	$5.0M	$3.0M	$1.0M	$1.0M
Fixed Assets	$1.0M	$1.0M	$4.0M	$3.0M	$2.0M	$0
Capital Work in Progress	$0	$0	$0	$0	$0	$0
Investments	$0	$0	$0	$0	$0	$0
Other Assets	$0	$2.0M	$0	$0	$1.0M	$0
Total Liabilities	$4.0M	$10.0M	$15.0M	$20.0M	$20.0M	$3.0M
Current Liabilities	$4.0M	$10.0M	$3.0M	$7.0M	$19.0M	$3.0M
Borrowings	$0	$0	$0	$0	$0	$0
Other Liabilities	$4.0M	$10.0M	$15.0M	$20.0M	$20.0M	$3.0M
Equity	$0	$0	$0	$0	$0	$0
Reserves	$9.0M	$13.0M	$10.0M	$-2.0M	$-10.0M	$0

For American Defense Systems, Inc., operating cash flow was positive in 3 of 6 reported years; free cash flow in the latest year was negative at $2.0M; free cash flow was positive in 2 of 6 years.

Cash Flow Statement — 6 Years (USD millions)

Metric	2006	2007	2008	2009	2010	2011
Operating Cash Flow	$1.0M	$-2.0M	$-9.0M	$1.0M	$1.0M	$-2.0M
Investing Cash Flow	$-1.0M	$-2.0M	$-7.0M	$-1.0M	$-1.0M	$1.0M
Financing Cash Flow	$0	$0	$0	$-1.0M	$0	$0
Net Cash Flow	$2.0M	$-3.0M	$-1.0M	$0	$0	$0
Free Cash Flow	$1.0M	$-3.0M	$-12.0M	$1.0M	$0	$-2.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.00
EV / EBITDA	-0.02
FCF Yield	-18280.28%
Quick Ratio	0.69
Interest Coverage	-13.97
Return 1Y	0.00%
Return 3Y	-50.00%
Return 5Y	—

American Defense Systems, Inc. (ADFS) financials — frequently asked questions

What is American Defense Systems, Inc.'s annual revenue?

American Defense Systems, Inc. (ADFS) reported annual revenue of $9.0M in its most recent fiscal year.

What is American Defense Systems, Inc.'s net profit?

American Defense Systems, Inc. (ADFS) reported net profit of $9.0M in its most recent fiscal year.

What is ADFS EV/EBITDA?

American Defense Systems, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is -0.02. A negative value means EBITDA was negative over the period, so the ratio is not a meaningful valuation measure.

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