$AOUT
American Outdoor Brands, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021047481 Filed on September 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $60.77M $50.47M
YoY Change 20.41% 51.94%
Cost Of Revenue $31.79M $26.74M
YoY Change 18.88% 36.76%
Gross Profit $28.98M $23.73M
YoY Change 22.13% 73.65%
Gross Profit Margin 47.69% 47.02%
Selling, General & Admin $23.24M $20.04M
YoY Change 15.98% 2.48%
% of Gross Profit 80.18% 84.43%
Research & Development $1.521M $1.230M
YoY Change 23.66% -7.66%
% of Gross Profit 5.25% 5.18%
Depreciation & Amortization $4.179M $5.388M
YoY Change -22.44% -9.85%
% of Gross Profit 14.42% 22.7%
Operating Expenses $24.76M $21.27M
YoY Change 16.42% 1.83%
Operating Profit $4.223M $2.464M
YoY Change 71.39% -134.13%
Interest Expense -$46.00K $336.0K
YoY Change -113.69%
% of Operating Profit -1.09% 13.64%
Other Income/Expense, Net $83.00K $420.0K
YoY Change -80.24% -55.18%
Pretax Income $4.306M $2.884M
YoY Change 49.31% -145.91%
Income Tax $849.0K $1.100M
% Of Pretax Income 19.72% 38.14%
Net Earnings $3.457M $1.789M
YoY Change 93.24% -135.9%
Net Earnings / Revenue 5.69% 3.54%
Basic Earnings Per Share $0.25 $0.13
Diluted Earnings Per Share $0.24 $0.13
COMMON SHARES
Basic Shares Outstanding 14.08M 13.98M
Diluted Shares Outstanding 14.30M 0.000

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.34M $0.00
YoY Change
Cash & Equivalents $56.34M $0.00
Short-Term Investments
Other Short-Term Assets $9.022M $3.500M
YoY Change 157.77%
Inventory $92.04M $69.59M
Prepaid Expenses
Receivables $33.53M $41.99M
Other Receivables $0.00 $100.0K
Total Short-Term Assets $190.9M $115.2M
YoY Change 65.75%
LONG-TERM ASSETS
Property, Plant & Equipment $35.93M $9.994M
YoY Change 259.56%
Goodwill $64.30M $64.30M
YoY Change 0.0%
Intangibles $50.32M $65.41M
YoY Change -23.07%
Long-Term Investments
YoY Change
Other Assets $7.157M $19.00K
YoY Change 37568.42%
Total Long-Term Assets $157.7M $145.6M
YoY Change 8.34%
TOTAL ASSETS
Total Short-Term Assets $190.9M $115.2M
Total Long-Term Assets $157.7M $145.6M
Total Assets $348.7M $260.8M
YoY Change 33.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.18M $15.11M
YoY Change 33.55%
Accrued Expenses $12.32M $11.00M
YoY Change 12.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $40.44M $30.96M
YoY Change 30.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.41M $183.0K
YoY Change 13239.89%
Total Long-Term Liabilities $24.41M $183.0K
YoY Change 13239.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.44M $30.96M
Total Long-Term Liabilities $24.41M $183.0K
Total Liabilities $64.85M $33.44M
YoY Change 93.96%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $283.8M $227.3M
YoY Change
Total Liabilities & Shareholders Equity $348.7M $260.8M
YoY Change 33.7%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $3.457M $1.789M
YoY Change 93.24% -135.9%
Depreciation, Depletion And Amortization $4.179M $5.388M
YoY Change -22.44% -9.85%
Cash From Operating Activities -$3.165M $564.0K
YoY Change -661.17% -144.83%
INVESTING ACTIVITIES
Capital Expenditures $859.0K $879.0K
YoY Change -2.28% 103.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$986.0K -$984.0K
YoY Change 0.2% 108.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -307.0K 186.0K
YoY Change -265.05% -89.4%
NET CHANGE
Cash From Operating Activities -3.165M 564.0K
Cash From Investing Activities -986.0K -984.0K
Cash From Financing Activities -307.0K 186.0K
Net Change In Cash -4.458M -234.0K
YoY Change 1805.13% -1036.0%
FREE CASH FLOW
Cash From Operating Activities -$3.165M $564.0K
Capital Expenditures $859.0K $879.0K
Free Cash Flow -$4.024M -$315.0K
YoY Change 1177.46% -81.37%

Facts In Submission

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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Reclassification</span></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:6pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">We have adjusted the accompanying consolidated balance sheet as of April 30, 2021 to reclassify $4.8 million from accounts receivable, net, to other current assets, to conform with our current presentation. This reclassification had no impact on the previously reported net income or comprehensive income.</span></p>
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IndefiniteLivedIntangibleAssetsExcludingGoodwill
430000
CY2021Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
430000
CY2021Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
162946000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
112625000
CY2021Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
50321000
CY2021Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
162754000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
109111000
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
53643000
CY2021Q3 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3500000
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4000000.0
CY2021Q3 us-gaap Goodwill
Goodwill
64300000
CY2021Q3 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
0
CY2020Q3 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
0
CY2021Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
109300000
CY2021Q3 us-gaap Goodwill Gross
GoodwillGross
173600000
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
79745000
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
62465000
CY2021Q3 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
4833000
CY2021Q2 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
4629000
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
420000
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
445000
CY2021Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
7044000
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
6757000
CY2021Q3 us-gaap Inventory Net
InventoryNet
92042000
CY2021Q2 us-gaap Inventory Net
InventoryNet
74296000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3457000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14083000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1789000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13975000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
218000
CY2021Q3 aout Per Common Share Effect Of Dilutive Stock Award
PerCommonShareEffectOfDilutiveStockAward
-0.01
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3457000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14301000
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1789000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13975000
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2021Q3 aout Share Based Compensation Arrangement By Share Based Payment Awards Performance Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardsPerformancePeriod
P3Y
CY2021Q3 aout Share Based Compensation Percentage Of Target Award Granted For Calculating Maximum Aggregate Award Of Performance Share
ShareBasedCompensationPercentageOfTargetAwardGrantedForCalculatingMaximumAggregateAwardOfPerformanceShare
2
CY2021Q3 aout Percentage Of Stock Outperform In Order For Target Awards To Vest
PercentageOfStockOutperformInOrderForTargetAwardsToVest
0.05
CY2021Q3 aout Accrued Freight
AccruedFreight
4852000
CY2021Q2 aout Accrued Freight
AccruedFreight
2466000
CY2021Q3 aout Accrued Sales Allowances Current
AccruedSalesAllowancesCurrent
3222000
CY2021Q2 aout Accrued Sales Allowances Current
AccruedSalesAllowancesCurrent
2931000
CY2021Q3 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
1254000
CY2021Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
1578000
CY2021Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1099000
CY2021Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
1052000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
787000
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
701000
CY2021Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
701000
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
717000
CY2021Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
272000
CY2021Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
153000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
135000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
12322000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9843000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
849000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1100000
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.197
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.380
CY2021Q3 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
190000
CY2020Q3 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
377000
CY2021Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q3 aout Number Of Distinct Brands
NumberOfDistinctBrands
20
CY2021Q3 aout Number Of Brand Lanes
NumberOfBrandLanes
4

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