2021 Form 10-K Financial Statement

#000114036122011156 Filed on March 25, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $199.6M $59.93M $195.3M
YoY Change 2.15% 14.61% -1.43%
Cost Of Revenue $131.7M $119.9M
YoY Change 9.86% -13.9%
Gross Profit $67.86M $75.47M
YoY Change -10.09% 28.02%
Gross Profit Margin 34.01% 38.63%
Selling, General & Admin $47.50M $12.13M $46.80M
YoY Change 1.49% 5.66% 2.86%
% of Gross Profit 69.99% 62.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.06M $19.60M $19.39M
YoY Change 24.09% 10.73% 12.18%
% of Gross Profit 35.46% 25.7%
Operating Expenses $192.9M $44.56M $178.2M
YoY Change 8.23% -11.13% -9.31%
Operating Profit -$1.495M $11.51M
YoY Change -112.98% -253.68%
Interest Expense $1.387M -$360.0K $1.610M
YoY Change -13.85% -29.41% -24.41%
% of Operating Profit 13.98%
Other Income/Expense, Net $13.68M $11.55M
YoY Change 18.42% -1.75%
Pretax Income $5.302M $15.02M $15.50M
YoY Change -65.8% 815.85% -3909.09%
Income Tax $1.021M $3.170M $3.334M
% Of Pretax Income 19.26% 21.11% 21.51%
Net Earnings $4.281M $11.85M $12.17M
YoY Change -64.82% 833.07% -3252.59%
Net Earnings / Revenue 2.15% 19.77% 6.23%
Basic Earnings Per Share $0.19 $0.58
Diluted Earnings Per Share $0.19 $580.6K $0.56
COMMON SHARES
Basic Shares Outstanding 20.40M 20.41M 20.44M
Diluted Shares Outstanding 20.40M 21.82M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $24.75M $19.32M $19.30M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.143M $4.800M $4.800M
YoY Change -13.69% -12.73% -12.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $283.4M $1.238M $279.3M
YoY Change 1.47% 0.0% 3.98%
Other Assets $1.755M $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $402.3M $405.2M $405.2M
YoY Change -0.72% 7.3% 7.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $4.378M $5.100M $5.100M
YoY Change -14.16% -10.53% -10.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.47M $26.40M $26.40M
YoY Change -3.54% 11.86% 11.86%
LONG-TERM LIABILITIES
Long-Term Debt $33.74M $33.70M $33.70M
YoY Change 0.11% 0.0% 0.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $33.74M $33.70M $33.70M
YoY Change 0.11% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.47M $26.40M $26.40M
Total Long-Term Liabilities $33.74M $33.70M $33.70M
Total Liabilities $261.0M $260.1M $260.1M
YoY Change 0.35% 0.35% 0.35%
SHAREHOLDERS EQUITY
Retained Earnings $47.79M
YoY Change 32.68%
Common Stock $22.40M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.339M
YoY Change -3.18%
Treasury Stock Shares $1.986M
Shareholders Equity $141.3M $145.1M $145.1M
YoY Change
Total Liabilities & Shareholders Equity $402.3M $405.2M $405.2M
YoY Change -0.72% 7.3% 7.31%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $4.281M $11.85M $12.17M
YoY Change -64.82% 833.07% -3252.59%
Depreciation, Depletion And Amortization $24.06M $19.60M $19.39M
YoY Change 24.09% 10.73% 12.18%
Cash From Operating Activities $1.088M $9.870M $8.971M
YoY Change -87.87% 71.35% -596.46%
INVESTING ACTIVITIES
Capital Expenditures $107.0K -$40.00K $233.0K
YoY Change -54.08% 33.33% 237.68%
Acquisitions
YoY Change
Other Investing Activities $5.407M $950.0K -$1.830M
YoY Change -395.46% -103.34% -159.42%
Cash From Investing Activities $5.300M $910.0K -$2.064M
YoY Change -356.78% -103.2% -168.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -954.0K -400.0K -481.0K
YoY Change 98.34% -4.76% -48.78%
NET CHANGE
Cash From Operating Activities 1.088M 9.870M 8.971M
Cash From Investing Activities 5.300M 910.0K -2.064M
Cash From Financing Activities -954.0K -400.0K -481.0K
Net Change In Cash 5.434M 10.38M 6.426M
YoY Change -15.44% -144.88% 2343.35%
FREE CASH FLOW
Cash From Operating Activities $1.088M $9.870M $8.971M
Capital Expenditures $107.0K -$40.00K $233.0K
Free Cash Flow $981.0K $9.910M $8.738M
YoY Change -88.77% 71.16% -565.78%

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CY2020 us-gaap Supplementary Insurance Information Amortization Of Deferred Policy Acquisition Costs
SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCosts
19393000
CY2020 us-gaap Supplementary Insurance Information Other Operating Expense
SupplementaryInsuranceInformationOtherOperatingExpense
40576000
CY2021 us-gaap Premiums Percentage Assumed To Net
PremiumsPercentageAssumedToNet
0.120
CY2020Q4 srt Life Insurance In Force Gross
LifeInsuranceInForceGross
294392000
CY2020Q4 srt Life Insurance In Force Ceded
LifeInsuranceInForceCeded
11032000
CY2020Q4 srt Life Insurance In Force Assumed
LifeInsuranceInForceAssumed
0
CY2020Q4 srt Life Insurance In Force Net
LifeInsuranceInForceNet
283360000
CY2020 us-gaap Direct Premiums Earned
DirectPremiumsEarned
238209000
CY2020 us-gaap Ceded Premiums Earned
CededPremiumsEarned
77814000
CY2020 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
23144000
CY2020 us-gaap Premiums Earned Net
PremiumsEarnedNet
183539000
CY2020 us-gaap Premiums Percentage Assumed To Net
PremiumsPercentageAssumedToNet
0.126
CY2020 us-gaap Supplementary Insurance Information Premiums Written
SupplementaryInsuranceInformationPremiumsWritten
64366000
CY2021Q4 srt Life Insurance In Force Gross
LifeInsuranceInForceGross
416480000
CY2021Q4 srt Life Insurance In Force Ceded
LifeInsuranceInForceCeded
9487000
CY2021Q4 srt Life Insurance In Force Assumed
LifeInsuranceInForceAssumed
0
CY2021Q4 srt Life Insurance In Force Net
LifeInsuranceInForceNet
406993000
CY2021 us-gaap Direct Premiums Earned
DirectPremiumsEarned
235806000
CY2021 us-gaap Ceded Premiums Earned
CededPremiumsEarned
73666000
CY2021 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
22076000
CY2021 us-gaap Premiums Earned Net
PremiumsEarnedNet
184216000
CY2021Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Deferred Policy Acquisition Costs
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDeferredPolicyAcquisitionCosts
2390000
CY2021Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Reserves For Unpaid Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersReservesForUnpaidClaimsAndClaimsAdjustmentExpense
57256000
CY2021Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Unearned Premiums
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersUnearnedPremiums
23780000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Earned Premiums
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersEarnedPremiums
67982000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Net Investment Income
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersNetInvestmentIncome
3570000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
48678000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
4245000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Amortization Of Deferred Policy Acquisition Costs
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersAmortizationOfDeferredPolicyAcquisitionCosts
10599000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Paid Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPaidClaimsAndClaimsAdjustmentExpense
40370000
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Premiums Written
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPremiumsWritten
69403000
CY2020Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Deferred Policy Acquisition Costs
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDeferredPolicyAcquisitionCosts
2299000
CY2020Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Reserves For Unpaid Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersReservesForUnpaidClaimsAndClaimsAdjustmentExpense
54883000
CY2020Q4 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Unearned Premiums
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersUnearnedPremiums
22932000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Earned Premiums
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersEarnedPremiums
62372000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Net Investment Income
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersNetInvestmentIncome
3586000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
39859000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
520000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Amortization Of Deferred Policy Acquisition Costs
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersAmortizationOfDeferredPolicyAcquisitionCosts
9590000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Paid Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPaidClaimsAndClaimsAdjustmentExpense
37645000
CY2020 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Premiums Written
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPremiumsWritten
64366000

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