2024 Q4 Form 10-Q Financial Statement

#000121390024095907 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $251.8M $318.1M
YoY Change -20.84% -5.57%
Cost Of Revenue $245.9M $314.0M
YoY Change -21.69% -11.98%
Gross Profit $5.960M $4.161M
YoY Change 43.23% -120.97%
Gross Profit Margin 2.37% 1.31%
Selling, General & Admin $7.510M $8.488M
YoY Change -11.52% 14.66%
% of Gross Profit 126.01% 203.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.058M $5.640M
YoY Change 7.41% -9.9%
% of Gross Profit 101.64% 135.54%
Operating Expenses $7.510M $8.488M
YoY Change -11.52% 14.66%
Operating Profit -$720.0K -$4.327M
YoY Change -83.36% -84.12%
Interest Expense -$1.867M -$2.000M
YoY Change -6.65% 488.24%
% of Operating Profit
Other Income/Expense, Net $146.0K $26.00K
YoY Change 461.54% -105.7%
Pretax Income -$2.441M -$3.489M
YoY Change -30.04% -87.56%
Income Tax
% Of Pretax Income
Net Earnings -$2.441M -$3.489M
YoY Change -30.04% -87.56%
Net Earnings / Revenue -0.97% -1.1%
Basic Earnings Per Share -$0.04 -$0.05
Diluted Earnings Per Share -$0.04 -$0.05
COMMON SHARES
Basic Shares Outstanding 76.65M shares 76.49M shares 75.91M shares
Diluted Shares Outstanding 73.84M shares 73.19M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.59M $26.20M
YoY Change 28.21% -7.93%
Cash & Equivalents $33.59M $26.16M
Short-Term Investments
Other Short-Term Assets $6.568M $6.213M
YoY Change 5.71% -30.7%
Inventory $48.01M $57.09M
Prepaid Expenses
Receivables $52.04M $66.07M
Other Receivables $0.00 $0.00
Total Short-Term Assets $145.2M $168.2M
YoY Change -13.71% -9.72%
LONG-TERM ASSETS
Property, Plant & Equipment $238.9M $248.9M
YoY Change -4.01% 6.6%
Goodwill $5.970M
YoY Change 0.0%
Intangibles $8.057M $8.645M
YoY Change -6.8%
Long-Term Investments
YoY Change
Other Assets $6.029M $6.013M
YoY Change 0.27% -11.42%
Total Long-Term Assets $272.3M $292.9M
YoY Change -7.05% 9.14%
TOTAL ASSETS
Total Short-Term Assets $145.2M $168.2M
Total Long-Term Assets $272.3M $292.9M
Total Assets $417.4M $461.1M
YoY Change -9.48% 1.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.21M $23.99M
YoY Change -28.28% 37.14%
Accrued Expenses $14.26M $16.64M
YoY Change -14.35% -24.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.10M $58.42M
YoY Change -22.79% 7.16%
LONG-TERM LIABILITIES
Long-Term Debt $83.34M $75.88M
YoY Change 9.84% 65.35%
Other Long-Term Liabilities $9.302M $8.870M
YoY Change 4.87% -11.9%
Total Long-Term Liabilities $92.64M $84.75M
YoY Change 9.32% 51.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.10M $58.42M
Total Long-Term Liabilities $92.64M $84.75M
Total Liabilities $153.5M $163.1M
YoY Change -5.9% 36.3%
SHAREHOLDERS EQUITY
Retained Earnings -$782.1M -$744.6M
YoY Change 5.03% 6.19%
Common Stock $77.00K $76.00K
YoY Change 1.32% 2.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $263.9M $298.0M
YoY Change
Total Liabilities & Shareholders Equity $417.4M $461.1M
YoY Change -9.48% 1.42%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.441M -$3.489M
YoY Change -30.04% -87.56%
Depreciation, Depletion And Amortization $6.058M $5.640M
YoY Change 7.41% -9.9%
Cash From Operating Activities $18.57M $23.13M
YoY Change -19.72% -222.67%
INVESTING ACTIVITIES
Capital Expenditures $491.0K $6.640M
YoY Change -92.61% -142.92%
Acquisitions
YoY Change
Other Investing Activities $400.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$91.00K -$6.640M
YoY Change -98.63% 803.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.394M -6.720M
YoY Change 24.91% -70.44%
NET CHANGE
Cash From Operating Activities 18.57M 23.13M
Cash From Investing Activities -91.00K -6.640M
Cash From Financing Activities -8.394M -6.720M
Net Change In Cash 10.08M 9.770M
YoY Change 3.2% -123.08%
FREE CASH FLOW
Cash From Operating Activities $18.57M $23.13M
Capital Expenditures $491.0K $6.640M
Free Cash Flow $18.08M $16.49M
YoY Change 9.62% -587.29%

Facts In Submission

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2683000 usd
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Estimates and Assumptions</span></i> – The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates are required as part of determining the allowance for credit losses, net realizable value of inventory, long-lived asset impairments, valuation allowances on deferred income taxes, the potential outcome of future tax consequences of events recognized in the Company’s financial statements or tax returns, and the valuation of assets acquired and liabilities assumed as a result of business combinations. Actual results and outcomes may materially differ from management’s estimates and assumptions.</p>
us-gaap Number Of Operating Segments
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CY2024Q3 us-gaap Revenues
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Revenues
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Revenues
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Revenues
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CY2024Q3 us-gaap Cost Of Goods And Services Sold
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245854000 usd
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CostOfGoodsAndServicesSold
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us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
931137000 usd
CY2024Q3 us-gaap Gross Profit
GrossProfit
5960000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
4161000 usd
us-gaap Gross Profit
GrossProfit
11113000 usd
us-gaap Gross Profit
GrossProfit
18178000 usd
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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DepreciationDepletionAndAmortization
6058000 usd
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DepreciationDepletionAndAmortization
5647000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17860000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17382000 usd
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1867000 usd
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InvestmentIncomeInvestmentExpense
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InvestmentIncomeInvestmentExpense
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us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
5299000 usd
CY2024Q3 us-gaap Assets
Assets
417411000 usd
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Assets
454241000 usd
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InventoryValuationReserves
203000000 usd
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InventoryValuationReserves
2201000 usd
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
27766000 usd
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InventoryFinishedGoods
35765000 usd
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
4788000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
5063000 usd
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InventoryRawMaterials
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InventoryRawMaterials
10313000 usd
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OtherInventory
5602000 usd
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OtherInventory
1470000 usd
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InventoryNet
48014000 usd
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InventoryNet
52611000 usd
CY2024Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2566000 usd
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UnrealizedGainLossOnDerivatives
2711000 usd
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UnrealizedGainLossOnDerivatives
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UnrealizedGainLossOnDerivatives
2463000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
90572000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
90690000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3291000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
3893000 usd
CY2024Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
3939000 usd
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
4700000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
83342000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
82097000 usd
CY2024Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
27200000 usd
CY2024Q3 alto Line Of Credit Facility Available For Capital Improvement Project
LineOfCreditFacilityAvailableForCapitalImprovementProject
65000000 usd
CY2024Q3 us-gaap Significant Supply Commitment Remaining Minimum Amount Committed
SignificantSupplyCommitmentRemainingMinimumAmountCommitted
6797000 usd
alto Indexed Price Sales Contract
IndexedPriceSalesContract
44000 t
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
8616000 usd
CY2024Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
36000 usd
CY2024Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
46000 usd
CY2024Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
3000 usd
CY2024Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
13000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
108000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
138000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
9000 usd
CY2023Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
20897000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-2441000 usd
CY2024Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
319000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2760000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2760000 usd
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73835000 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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73835000 shares
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-3489000 usd
CY2023Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
319000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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-3808000 usd
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73191000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73191000 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Net Income Loss
NetIncomeLoss
-17272000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
950000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-18222000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-18222000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73364000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73364000 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Net Income Loss
NetIncomeLoss
-9060000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
946000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-10006000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10006000 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73464000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73464000 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
usd
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
CY2024Q3 alto Income From Cash Grant
IncomeFromCashGrant
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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alto Proceeds From Sale Of Assets Note Receivable
ProceedsFromSaleOfAssetsNoteReceivable
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alto Rou Assets Obtained In Exchange For New Lease Obligations
ROUAssetsObtainedInExchangeForNewLeaseObligations
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CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2024Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0000778164

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