$ACU
ACME UNITED CORP

2022 Q3 Form 10-Q Financial Statement

#000156459022028456 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $49.74M $56.77M $43.33M
YoY Change 3.8% 26.59% -0.44%
Cost Of Revenue $33.82M $38.23M $28.37M
YoY Change 9.38% 33.22% 1.53%
Gross Profit $15.93M $18.55M $14.97M
YoY Change -6.35% 14.83% -3.97%
Gross Profit Margin 32.01% 32.67% 34.54%
Selling, General & Admin $14.97M $14.57M $13.60M
YoY Change 6.61% 17.86% 7.75%
% of Gross Profit 94.02% 78.56% 90.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.221M $1.057M $1.026M
YoY Change 21.86% 10.22% 75.68%
% of Gross Profit 7.67% 5.7% 6.85%
Operating Expenses $14.97M $14.57M $13.60M
YoY Change 6.61% 17.86% 7.75%
Operating Profit $953.0K $3.976M $1.371M
YoY Change -67.81% 4.94% -53.81%
Interest Expense -$714.0K -$423.0K -$305.0K
YoY Change 213.16% 89.69% 38.01%
% of Operating Profit -74.92% -10.64% -22.25%
Other Income/Expense, Net -$209.0K -$148.0K $2.000K
YoY Change 207.35% -104.3% -100.67%
Pretax Income $30.00K $3.405M $1.068M
YoY Change -98.87% -51.4% -60.0%
Income Tax -$34.00K $667.0K $238.0K
% Of Pretax Income -113.33% 19.59% 22.28%
Net Earnings $64.00K $2.738M $830.0K
YoY Change -96.87% -62.13% -59.43%
Net Earnings / Revenue 0.13% 4.82% 1.92%
Basic Earnings Per Share $0.02 $0.78 $0.24
Diluted Earnings Per Share $17.38K $0.71 $215.7K
COMMON SHARES
Basic Shares Outstanding 3.525M 3.521M 3.521M
Diluted Shares Outstanding 3.692M 3.841M 3.848M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.218M $1.760M $5.307M
YoY Change -20.51% -45.68% 37.59%
Cash & Equivalents $4.218M $1.760M $5.307M
Short-Term Investments
Other Short-Term Assets $3.990M $3.663M $3.810M
YoY Change 62.33% 63.97% 53.82%
Inventory $66.21M $65.04M $60.72M
Prepaid Expenses
Receivables $40.15M $46.99M $34.61M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $114.6M $117.4M $104.4M
YoY Change 23.66% 29.86% 19.61%
LONG-TERM ASSETS
Property, Plant & Equipment $28.93M $26.28M $26.95M
YoY Change 9.72% 1.51% 8.51%
Goodwill $8.189M $8.189M
YoY Change
Intangibles $21.30M $21.62M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.500M $1.500M
YoY Change
Total Long-Term Assets $59.92M $60.38M $48.64M
YoY Change 22.82% 23.97% 1.33%
TOTAL ASSETS
Total Short-Term Assets $114.6M $117.4M $104.4M
Total Long-Term Assets $59.92M $60.38M $48.64M
Total Assets $174.5M $177.8M $153.1M
YoY Change 23.37% 27.8% 13.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.77M $21.42M $10.94M
YoY Change 75.82% 167.06% 34.2%
Accrued Expenses $12.26M $10.13M $8.937M
YoY Change 0.78% -5.68% -21.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $389.0K $389.0K $389.0K
YoY Change 45.69% 45.69% 45.69%
Total Short-Term Liabilities $24.42M $33.02M $21.38M
YoY Change 27.68% 69.46% 3.41%
LONG-TERM LIABILITIES
Long-Term Debt $67.93M $50.26M $40.15M
YoY Change 57.38% 18.75% -1.17%
Other Long-Term Liabilities $3.154M $1.869M $600.0K
YoY Change 21.49% 1599.09% 445.45%
Total Long-Term Liabilities $71.09M $52.13M $40.75M
YoY Change 55.35% 47292.73% 0.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.42M $33.02M $21.38M
Total Long-Term Liabilities $71.09M $52.13M $40.75M
Total Liabilities $95.50M $97.99M $75.30M
YoY Change 47.19% 51.49% 6.53%
SHAREHOLDERS EQUITY
Retained Earnings $72.06M $72.49M $70.25M
YoY Change 9.15% 17.78%
Common Stock $12.69M $12.66M $12.66M
YoY Change 0.64% 4.2%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.00M $16.00M $16.00M
YoY Change 10.15% 10.15%
Treasury Stock Shares $1.545M $1.545M $1.545M
Shareholders Equity $78.98M $79.82M $77.77M
YoY Change
Total Liabilities & Shareholders Equity $174.5M $177.8M $153.1M
YoY Change 23.37% 27.8% 13.13%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $64.00K $2.738M $830.0K
YoY Change -96.87% -62.13% -59.43%
Depreciation, Depletion And Amortization $1.221M $1.057M $1.026M
YoY Change 21.86% 10.22% 75.68%
Cash From Operating Activities -$2.436M $308.0K -$5.479M
YoY Change -185.9% -35.7% 1530.65%
INVESTING ACTIVITIES
Capital Expenditures -$838.0K -$2.243M -$518.0K
YoY Change -41.85% 19.88% -135.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$9.609M
YoY Change
Cash From Investing Activities -$838.0K -$11.85M -$518.0K
YoY Change -41.85% 533.46% -65.0%
FINANCING ACTIVITIES
Cash Dividend Paid $458.0K
YoY Change 5.05%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.135M 9.570M 6.450M
YoY Change 720.19% 1216.37% 319.38%
NET CHANGE
Cash From Operating Activities -2.436M 308.0K -5.479M
Cash From Investing Activities -838.0K -11.85M -518.0K
Cash From Financing Activities 6.135M 9.570M 6.450M
Net Change In Cash 2.861M -1.974M 464.0K
YoY Change 33.5% 196.84% -249.68%
FREE CASH FLOW
Cash From Operating Activities -$2.436M $308.0K -$5.479M
Capital Expenditures -$838.0K -$2.243M -$518.0K
Free Cash Flow -$1.598M $2.551M -$4.961M
YoY Change -137.36% 8.55% 173.18%

Facts In Submission

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CY2022Q2 us-gaap Finite Lived Customer Lists Gross
FiniteLivedCustomerListsGross
18370118
CY2021Q4 us-gaap Finite Lived Customer Lists Gross
FiniteLivedCustomerListsGross
16137118
CY2022Q2 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
2271980
CY2021Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
2271980
CY2022Q2 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
1170111
CY2021Q4 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
250111
CY2022Q2 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
379921
CY2021Q4 us-gaap Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
379921
CY2022Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
32176828
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
27033828
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10552204
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9803299
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
21624624
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
17230529
CY2022Q2 us-gaap Goodwill
Goodwill
8188829
CY2021Q4 us-gaap Goodwill
Goodwill
4799829
CY2022Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
29813452
CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
22030358
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
79823000
acu Adjustments To Additional Paid In Capital Cash Settlement Of Stock Options
AdjustmentsToAdditionalPaidInCapitalCashSettlementOfStockOptions
211000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
8977000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1000000
CY2021Q4 us-gaap Secured Debt Current
SecuredDebtCurrent
389000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9909000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
20275000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
33037000
CY2021Q4 acu Mortgage Payable Non Current
MortgagePayableNonCurrent
11081000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2365000
CY2022Q2 us-gaap Land
Land
1977000
CY2022Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-423000
CY2022Q2 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
16088000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
21625000
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
21421000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1080000
CY2022Q2 us-gaap Secured Debt Current
SecuredDebtCurrent
389000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10129000
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
33019000
CY2022Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
30493000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
48558000
CY2022Q2 us-gaap Assets
Assets
177815000
CY2022Q2 acu Mortgage Payable Non Current
MortgagePayableNonCurrent
10897000
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3521373
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
12657000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
72491000
CY2022Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1544872
CY2022Q2 us-gaap Treasury Stock Value
TreasuryStockValue
15996000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-1927000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
79823000
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
177815000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
79823000
us-gaap Depreciation
Depreciation
1176000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
744000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
742000
us-gaap Share Based Compensation
ShareBasedCompensation
886000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
54000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
12468000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
9072000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
11021000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2007000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
991000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
12651000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
346000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
182000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1215000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-8739000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5171000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
143000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
950000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
10000
acu Adjustments To Additional Paid In Capital Cash Settlement Of Stock Options
AdjustmentsToAdditionalPaidInCapitalCashSettlementOfStockOptions
108000
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
782000
acu Payments Related To Cash Settlement Of Share Based Compensation
PaymentsRelatedToCashSettlementOfShareBasedCompensation
211000
acu Repayments On Mortgage
RepaymentsOnMortgage
133000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2698000
us-gaap Payments Of Dividends
PaymentsOfDividends
871000
acu Payments Related To Cash Settlement Of Share Based Compensation
PaymentsRelatedToCashSettlementOfShareBasedCompensation
108000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16020000
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
599000
CY2021Q4 us-gaap Liabilities
Liabilities
67357000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
12655000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
69873000
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
15996000

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