$ATRO
ASTRONICS CORP

2013 Q4 Form 10-Q Financial Statement

#000119312513427957 Filed on November 05, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q4
Revenue $105.5M $89.68M $67.42M
YoY Change 56.42% 30.16% 19.54%
Cost Of Revenue $80.30M $65.90M $49.90M
YoY Change 60.92% 26.28% 18.53%
Gross Profit $25.17M $23.79M $17.55M
YoY Change 43.43% 42.28% 22.73%
Gross Profit Margin 23.87% 26.52% 26.03%
Selling, General & Admin $14.30M $11.43M $9.600M
YoY Change 48.96% 26.16% 50.0%
% of Gross Profit 56.81% 48.07% 54.7%
Research & Development $12.40M
YoY Change -3.13%
% of Gross Profit 52.13%
Depreciation & Amortization $4.510M $3.080M $1.950M
YoY Change 131.28% 44.6% 62.5%
% of Gross Profit 17.92% 12.95% 11.11%
Operating Expenses $14.20M $23.83M $9.600M
YoY Change 47.92% 9.02% 50.0%
Operating Profit $10.97M $12.35M $7.951M
YoY Change 38.01% 61.36% 0.65%
Interest Expense -$2.000M -$1.600M -$200.0K
YoY Change 900.0% 433.33% -50.0%
% of Operating Profit -18.23% -12.95% -2.52%
Other Income/Expense, Net
YoY Change
Pretax Income $8.902M $10.75M $7.690M
YoY Change 15.76% 45.6% 2.53%
Income Tax $2.500M $3.592M $2.000M
% Of Pretax Income 28.08% 33.42% 26.01%
Net Earnings $6.389M $7.155M $5.655M
YoY Change 12.98% 45.13% -15.6%
Net Earnings / Revenue 6.06% 7.98% 8.39%
Basic Earnings Per Share $0.30 $0.34 $0.33
Diluted Earnings Per Share $0.29 $0.32 $0.31
COMMON SHARES
Basic Shares Outstanding 17.54M shares 20.95M shares
Diluted Shares Outstanding 22.06M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.60M $68.20M $7.400M
YoY Change 637.84% 797.37% -64.08%
Cash & Equivalents $54.64M $68.19M $7.380M
Short-Term Investments
Other Short-Term Assets $6.088M $7.869M $6.533M
YoY Change -6.81% 29.0% -2.49%
Inventory $85.27M $67.26M $48.62M
Prepaid Expenses $4.264M
Receivables $60.94M $48.59M $45.47M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $211.2M $191.9M $108.0M
YoY Change 95.54% 78.18% 3.46%
LONG-TERM ASSETS
Property, Plant & Equipment $70.90M $59.60M $53.54M
YoY Change 32.43% 22.14% 30.19%
Goodwill $101.0M $92.62M $21.92M
YoY Change 360.69% 27.57%
Intangibles $102.7M $83.09M $16.52M
YoY Change 521.56%
Long-Term Investments
YoY Change
Other Assets $5.474M $5.608M $2.977M
YoY Change 83.88% -52.87% -66.55%
Total Long-Term Assets $280.1M $240.9M $104.0M
YoY Change 169.36% 141.65% 47.48%
TOTAL ASSETS
Total Short-Term Assets $211.2M $191.9M $108.0M
Total Long-Term Assets $280.1M $240.9M $104.0M
Total Assets $491.3M $432.8M $212.0M
YoY Change 131.74% 108.69% 21.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.26M $16.71M $10.59M
YoY Change 138.43% 17.65% 5.92%
Accrued Expenses $24.67M $16.92M $15.63M
YoY Change 57.78% 16.67% 31.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $12.28M $10.59M $9.268M
YoY Change 32.49% 27.6% 74.87%
Total Short-Term Liabilities $85.24M $56.46M $47.97M
YoY Change 77.7% 18.12% 48.51%
LONG-TERM LIABILITIES
Long-Term Debt $188.0M $188.1M $20.72M
YoY Change 807.75% 649.31% -29.54%
Other Long-Term Liabilities $7.704M $18.06M $2.929M
YoY Change 163.02% 6.86% -65.54%
Total Long-Term Liabilities $195.7M $206.1M $23.64M
YoY Change 727.88% 390.8% -37.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.24M $56.46M $47.97M
Total Long-Term Liabilities $195.7M $206.1M $23.64M
Total Liabilities $319.8M $284.6M $86.86M
YoY Change 268.16% 216.92% 23.9%
SHAREHOLDERS EQUITY
Retained Earnings $134.1M $106.9M
YoY Change 25.47%
Common Stock $41.01M $175.0K $23.03M
YoY Change 78.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $171.5M $148.2M $125.1M
YoY Change
Total Liabilities & Shareholders Equity $491.3M $432.8M $212.0M
YoY Change 131.74% 108.69% 27.47%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q4
OPERATING ACTIVITIES
Net Income $6.389M $7.155M $5.655M
YoY Change 12.98% 45.13% -15.6%
Depreciation, Depletion And Amortization $4.510M $3.080M $1.950M
YoY Change 131.28% 44.6% 62.5%
Cash From Operating Activities $15.40M $16.83M $7.040M
YoY Change 118.75% 105.75% -27.87%
INVESTING ACTIVITIES
Capital Expenditures -$2.040M -$1.160M -$6.150M
YoY Change -66.83% -80.89% 4.24%
Acquisitions
YoY Change
Other Investing Activities -$23.94M -$135.9M -$40.00K
YoY Change 59750.0% 1179.66%
Cash From Investing Activities -$25.98M -$137.1M -$6.190M
YoY Change 319.71% 721.21% 4.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.060M 171.9M -1.040M
YoY Change 194.23% 2072.95% -255.22%
NET CHANGE
Cash From Operating Activities 15.40M 16.83M 7.040M
Cash From Investing Activities -25.98M -137.1M -6.190M
Cash From Financing Activities -3.060M 171.9M -1.040M
Net Change In Cash -13.64M 51.65M -190.0K
YoY Change 7078.95% -8708.33% -104.19%
FREE CASH FLOW
Cash From Operating Activities $15.40M $16.83M $7.040M
Capital Expenditures -$2.040M -$1.160M -$6.150M
Free Cash Flow $17.44M $17.99M $13.19M
YoY Change 32.22% 26.25% -15.77%

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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="MARGIN-TOP: 18pt; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> <b><i>18) Recent Accounting Pronouncements</i></b></p> <p style="MARGIN-TOP: 6pt; TEXT-INDENT: 4%; FONT-FAMILY: Times New Roman; MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt"> The Company&#x2019;s management has reviewed recent accounting pronouncements issued through the date of the issuance of financial statements. In management&#x2019;s opinion, none of these new pronouncements apply or will have a material effect on the Company&#x2019;s financial statements.</p> </div>
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