2021 Q4 Form 10-K Financial Statement

#000155837022001243 Filed on February 16, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $805.7M $2.208B $360.6M
YoY Change 123.43% 50.45% -34.37%
Cost Of Revenue $490.8M $1.580B $341.6M
YoY Change 43.67% 14.61% -30.64%
Gross Profit $314.9M $367.1M $19.00M
YoY Change 1557.48% -211.2% -17.91%
Gross Profit Margin 39.09% 16.63% 5.27%
Selling, General & Admin $25.66M $92.34M $18.40M
YoY Change 39.47% 12.07% -15.98%
% of Gross Profit 8.15% 25.15% 96.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.89M $120.3M $27.50M
YoY Change 30.49% -1.01% -8.03%
% of Gross Profit 11.4% 32.78% 144.74%
Operating Expenses $83.16M $92.34M $45.30M
YoY Change 83.57% 12.07% -2.79%
Operating Profit $231.8M $343.8M -$26.30M
YoY Change -981.24% -200.89% 277.87%
Interest Expense $20.73M $23.97M -$6.200M
YoY Change -434.27% 66.1% 93.75%
% of Operating Profit 8.94% 6.97%
Other Income/Expense, Net -$1.087M -$4.339M -$800.0K
YoY Change 35.88% 12.47% -900.0%
Pretax Income $227.2M $339.4M -$78.30M
YoY Change -390.14% -198.5% 789.77%
Income Tax $573.0K $1.874M $200.0K
% Of Pretax Income 0.25% 0.55%
Net Earnings $226.6M $337.6M -$78.50M
YoY Change -388.67% -197.96% 818.02%
Net Earnings / Revenue 28.13% 15.29% -21.77%
Basic Earnings Per Share $22.04
Diluted Earnings Per Share $11.92M $19.20 -$5.164M
COMMON SHARES
Basic Shares Outstanding 15.32M 15.32M 15.15M
Diluted Shares Outstanding 17.58M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $339.7M $339.7M $284.3M
YoY Change 19.49% 19.6% -1.53%
Cash & Equivalents $325.2M $325.2M $187.5M
Short-Term Investments $14.46M $14.46M $96.77M
Other Short-Term Assets $52.80M $53.91M $58.00M
YoY Change -8.96% -15.77% -40.75%
Inventory $156.7M $156.7M $126.0M
Prepaid Expenses
Receivables $324.3M $324.3M $110.9M
Other Receivables $8.271M $8.271M $3.000M
Total Short-Term Assets $882.9M $882.9M $588.1M
YoY Change 50.11% 50.15% -16.78%
LONG-TERM ASSETS
Property, Plant & Equipment $1.120B $1.139B $1.007B
YoY Change 11.19% 10.57% 2.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.40M $15.40M $71.78M
YoY Change -78.54% -78.61% -32.02%
Other Assets $78.84M $79.98M $55.25M
YoY Change 42.71% 142.37% -22.09%
Total Long-Term Assets $1.234B $1.234B $1.134B
YoY Change 8.81% 8.84% -2.3%
TOTAL ASSETS
Total Short-Term Assets $882.9M $882.9M $588.1M
Total Long-Term Assets $1.234B $1.234B $1.134B
Total Assets $2.117B $2.117B $1.722B
YoY Change 22.91% 22.95% -7.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $132.0M $132.0M $103.7M
YoY Change 27.22% 26.91% -22.03%
Accrued Expenses $167.3M $166.4M $155.3M
YoY Change 7.76% 8.04% -1.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $224.0M $224.0M $32.00M
YoY Change 599.9% 599.9% 52.38%
Total Short-Term Liabilities $522.3M $522.3M $290.1M
YoY Change 80.06% 80.12% -6.72%
LONG-TERM LIABILITIES
Long-Term Debt $337.6M $341.7M $477.2M
YoY Change -29.25% -29.1% 64.52%
Other Long-Term Liabilities $81.69M $569.2M $98.91M
YoY Change -17.41% -14.66% 20.47%
Total Long-Term Liabilities $419.3M $911.0M $576.1M
YoY Change -27.22% -20.72% 54.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $522.3M $522.3M $290.1M
Total Long-Term Liabilities $419.3M $911.0M $576.1M
Total Liabilities $1.433B $1.433B $1.439B
YoY Change -0.39% -0.4% 17.25%
SHAREHOLDERS EQUITY
Retained Earnings $712.5M $378.9M
YoY Change 88.04% -48.2%
Common Stock $784.6M $767.7M
YoY Change 2.2% 5.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $827.4M $827.4M
YoY Change 0.0% 0.0%
Treasury Stock Shares $10.09M $10.09M
Shareholders Equity $683.9M $683.9M $283.6M
YoY Change
Total Liabilities & Shareholders Equity $2.117B $2.117B $1.722B
YoY Change 22.91% 22.95% -7.78%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $226.6M $337.6M -$78.50M
YoY Change -388.67% -197.96% 818.02%
Depreciation, Depletion And Amortization $35.89M $120.3M $27.50M
YoY Change 30.49% -1.01% -8.03%
Cash From Operating Activities $146.7M $238.3M $5.200M
YoY Change 2721.19% 289.95% -93.93%
INVESTING ACTIVITIES
Capital Expenditures -$33.39M $245.4M -$80.30M
YoY Change -58.41% -14.13% -37.75%
Acquisitions
YoY Change
Other Investing Activities $25.01M $105.4M -$33.80M
YoY Change -174.0% 72.52% -176.99%
Cash From Investing Activities -$8.381M -$141.2M -$114.1M
YoY Change -92.65% -37.52% 34.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.834M 35.78M 131.7M
YoY Change -102.15% -82.57% -675.11%
NET CHANGE
Cash From Operating Activities 146.7M 238.3M 5.200M
Cash From Investing Activities -8.381M -141.2M -114.1M
Cash From Financing Activities -2.834M 35.78M 131.7M
Net Change In Cash 135.5M 132.9M 22.80M
YoY Change 494.24% 228.63% -201.79%
FREE CASH FLOW
Cash From Operating Activities $146.7M $238.3M $5.200M
Capital Expenditures -$33.39M $245.4M -$80.30M
Free Cash Flow $180.1M -$7.156M $85.50M
YoY Change 110.64% -96.82% -60.16%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Accounting Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of 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 revenues and expenses in the accompanying consolidated financial statements and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.</p>
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