2023 Q1 Form 10-K Financial Statement

#000156459023003422 Filed on March 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $45.84M $44.11M $194.0M
YoY Change 5.78% -3.67% 6.52%
Cost Of Revenue $29.56M $30.03M $130.4M
YoY Change 4.2% 0.98% 11.18%
Gross Profit $16.28M $14.08M $63.56M
YoY Change 8.77% -12.28% -1.92%
Gross Profit Margin 35.52% 31.93% 32.77%
Selling, General & Admin $14.09M $14.11M $57.29M
YoY Change 3.65% 8.51% 10.1%
% of Gross Profit 86.56% 100.18% 90.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $720.0K $1.274M $2.762M
YoY Change -29.82% 12.87% 8.0%
% of Gross Profit 4.42% 9.04% 4.35%
Operating Expenses $14.09M $14.11M $57.29M
YoY Change 3.65% 8.51% 10.1%
Operating Profit $2.188M -$25.70K $6.273M
YoY Change 59.59% -100.84% -50.88%
Interest Expense -$902.0K -$921.5K -$2.076M
YoY Change 195.74% 288.42% 128.61%
% of Operating Profit -41.22% -33.1%
Other Income/Expense, Net -$879.0K $107.6K -$246.4K
YoY Change -44050.0% 493.82% -107.44%
Pretax Income $1.309M -$839.6K $3.662M
YoY Change 22.57% -129.63% -75.87%
Income Tax $319.0K -$242.3K $627.7K
% Of Pretax Income 24.37% 17.14%
Net Earnings $990.0K -$597.2K $3.035M
YoY Change 19.28% -125.59% -77.78%
Net Earnings / Revenue 2.16% -1.35% 1.56%
Basic Earnings Per Share $0.28 $0.86
Diluted Earnings Per Share $0.28 -$0.17 $0.82
COMMON SHARES
Basic Shares Outstanding 3.538M 3.535M 3.528M
Diluted Shares Outstanding 3.541M 3.719M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.764M $6.100M $6.100M
YoY Change -47.92% 25.95% 25.95%
Cash & Equivalents $2.764M $6.100M $6.100M
Short-Term Investments
Other Short-Term Assets $4.960M $3.571M $3.571M
YoY Change 30.18% 35.55% 35.55%
Inventory $58.49M $63.33M $63.33M
Prepaid Expenses
Receivables $32.97M $32.60M $32.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $99.18M $105.6M $105.6M
YoY Change -5.03% 10.86% 10.87%
LONG-TERM ASSETS
Property, Plant & Equipment $26.40M $26.42M $29.05M
YoY Change -2.06% 9.94% 6.96%
Goodwill $8.189M $8.189M
YoY Change 70.61%
Intangibles $20.27M $20.79M
YoY Change 20.66%
Long-Term Investments
YoY Change
Other Assets $750.0K $750.0K $750.0K
YoY Change
Total Long-Term Assets $58.28M $58.78M $58.78M
YoY Change 19.83% 19.49% 19.49%
TOTAL ASSETS
Total Short-Term Assets $99.18M $105.6M $105.6M
Total Long-Term Assets $58.28M $58.78M $58.78M
Total Assets $157.5M $164.4M $164.4M
YoY Change 2.87% 13.8% 13.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.60M $10.51M $10.51M
YoY Change -3.13% 17.12% 17.13%
Accrued Expenses $1.216M $10.08M $8.849M
YoY Change -86.39% 1.7% -10.51%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $405.0K $404.6K $404.6K
YoY Change 4.11% 4.13% 4.13%
Total Short-Term Liabilities $24.03M $22.13M $22.13M
YoY Change 12.42% 9.13% 9.13%
LONG-TERM LIABILITIES
Long-Term Debt $40.14M $49.92M $60.61M
YoY Change -0.04% 51.09% 37.38%
Other Long-Term Liabilities $654.0K $622.4K $2.306M
YoY Change 9.0% 3.91% -2.47%
Total Long-Term Liabilities $40.79M $50.54M $62.92M
YoY Change 0.09% 50.25% 35.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.03M $22.13M $22.13M
Total Long-Term Liabilities $40.79M $50.54M $62.92M
Total Liabilities $77.35M $85.35M $85.35M
YoY Change 2.72% 26.71% 26.71%
SHAREHOLDERS EQUITY
Retained Earnings $71.46M $70.97M
YoY Change 1.73% 1.57%
Common Stock $12.72M $12.70M
YoY Change 0.49% 0.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.00M $16.00M
YoY Change 0.0% 0.0%
Treasury Stock Shares $1.545M $1.545M
Shareholders Equity $80.12M $79.03M $79.03M
YoY Change
Total Liabilities & Shareholders Equity $157.5M $164.4M $164.4M
YoY Change 2.87% 13.8% 13.8%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $990.0K -$597.2K $3.035M
YoY Change 19.28% -125.59% -77.78%
Depreciation, Depletion And Amortization $720.0K $1.274M $2.762M
YoY Change -29.82% 12.87% 8.0%
Cash From Operating Activities $7.676M $10.50M $2.892M
YoY Change -240.1% 385.7% -43.75%
INVESTING ACTIVITIES
Capital Expenditures $701.0K $1.005M $4.304M
YoY Change -235.33% -163.6% -32.46%
Acquisitions $9.622M
YoY Change
Other Investing Activities -$13.39K -$9.622M
YoY Change
Cash From Investing Activities -$701.0K -$1.019M -$14.23M
YoY Change 35.33% -35.55% 123.25%
FINANCING ACTIVITIES
Cash Dividend Paid $497.0K $1.903M
YoY Change 8.52% 6.19%
Common Stock Issuance & Retirement, Net $84.72K
YoY Change -97.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.32M -7.878M 14.28M
YoY Change -260.06% 711.91% 598.93%
NET CHANGE
Cash From Operating Activities 7.676M 10.50M 2.892M
Cash From Investing Activities -701.0K -1.019M -14.23M
Cash From Financing Activities -10.32M -7.878M 14.28M
Net Change In Cash -3.336M 1.602M 2.757M
YoY Change -818.97% -511.35% 307.87%
FREE CASH FLOW
Cash From Operating Activities $7.676M $10.50M $2.892M
Capital Expenditures $701.0K $1.005M $4.304M
Free Cash Flow $6.975M $9.493M -$1.413M
YoY Change -240.6% 153.69% 14.65%

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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
31.50
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
23.01
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.73
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.15
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
25.30
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
24.60
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
22.83
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.33
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1617672
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1132174
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0279
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.00413
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Range Of Dividends Used
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRangeOfDividendsUsed
1.3 - 1.8%
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1806758
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3599153
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15436026
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1565553
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
12128507
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
747730
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6582918
CY2022 us-gaap Net Income Loss
NetIncomeLoss
3034766
CY2021 us-gaap Net Income Loss
NetIncomeLoss
13655679
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3527626
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3471374
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
191624
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
483861
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3719250
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3955235
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.93
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.45
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
296438
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
229250
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-825967
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-554681
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1380648
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-707251
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2087899
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6100000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4843000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
750000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
750000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7600000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4843000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
1239000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1265000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1281000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1098000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
545000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1760000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1239000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
918000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
691000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
155000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3003000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
190000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1130000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1683000
CY2022 dei Auditor Name
AuditorName
Marcum LLP
CY2022 dei Auditor Name
AuditorName
Marcum LLP
CY2022 dei Auditor Location
AuditorLocation
Boston, Massachusetts
CY2022 dei Auditor Firm
AuditorFirmId
688

Files In Submission

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acu-20221231_def.xml Edgar Link unprocessable
acu-20221231_cal.xml Edgar Link unprocessable
acu-20221231_pre.xml Edgar Link unprocessable
0001564590-23-003422-index-headers.html Edgar Link pending
0001564590-23-003422-index.html Edgar Link pending
0001564590-23-003422.txt Edgar Link pending
0001564590-23-003422-xbrl.zip Edgar Link pending
acu-10k_20221231.htm Edgar Link pending
acu-20221231.xsd Edgar Link pending
acu-ex21_6.htm Edgar Link pending
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acu-20221231_lab.xml Edgar Link unprocessable
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