$AVD
AMERICAN VANGUARD CORP

2020 Q2 Form 10-Q Financial Statement

#000156459020038321 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $104.6M $113.1M
YoY Change -7.56% 5.66%
Cost Of Revenue $64.20M $71.45M
YoY Change -10.15% 12.08%
Gross Profit $40.31M $41.65M
YoY Change -3.23% -3.8%
Gross Profit Margin 38.55% 36.83%
Selling, General & Admin $27.50M $28.50M
YoY Change -3.51% 4.01%
% of Gross Profit 68.23% 68.42%
Research & Development $6.100M $6.900M
YoY Change -11.59% -5.48%
% of Gross Profit 15.13% 16.57%
Depreciation & Amortization $1.839M $1.577M
YoY Change 16.61% -23.26%
% of Gross Profit 4.56% 3.79%
Operating Expenses $33.60M $35.36M
YoY Change -4.98% 1.85%
Operating Profit $6.706M $6.291M
YoY Change 6.6% -26.67%
Interest Expense -$1.300M $1.925M
YoY Change -167.53% 99.28%
% of Operating Profit -19.39% 30.6%
Other Income/Expense, Net
YoY Change
Pretax Income $5.500M $4.366M
YoY Change 25.97% -42.65%
Income Tax $1.565M $1.224M
% Of Pretax Income 28.45% 28.03%
Net Earnings $3.887M $3.106M
YoY Change 25.14% -44.53%
Net Earnings / Revenue 3.72% 2.75%
Basic Earnings Per Share $0.13 $0.11
Diluted Earnings Per Share $0.13 $0.11
COMMON SHARES
Basic Shares Outstanding 29.41M 29.00M
Diluted Shares Outstanding 29.85M 29.54M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.600M $6.300M
YoY Change 36.51% -11.27%
Cash & Equivalents $8.600M $6.307M
Short-Term Investments
Other Short-Term Assets $12.50M $11.70M
YoY Change 6.84% 3.54%
Inventory $181.0M $193.4M
Prepaid Expenses $11.72M
Receivables $123.4M $118.4M
Other Receivables $11.30M $12.68M
Total Short-Term Assets $336.8M $342.9M
YoY Change -1.78% 18.86%
LONG-TERM ASSETS
Property, Plant & Equipment $59.16M $66.10M
YoY Change -10.5% 36.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.80M $23.10M
YoY Change -14.29% -10.3%
Total Long-Term Assets $324.5M $322.9M
YoY Change 0.5% 18.06%
TOTAL ASSETS
Total Short-Term Assets $336.8M $342.9M
Total Long-Term Assets $324.5M $322.9M
Total Assets $661.3M $665.8M
YoY Change -0.68% 18.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.60M $62.20M
YoY Change -15.43% -4.07%
Accrued Expenses $65.00M $53.90M
YoY Change 20.59% -0.36%
Deferred Revenue $4.347M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $131.8M $129.3M
YoY Change 1.93% -8.08%
LONG-TERM LIABILITIES
Long-Term Debt $159.4M $164.6M
YoY Change -3.15% 121.66%
Other Long-Term Liabilities $16.00M $10.98M
YoY Change 45.69% 13.91%
Total Long-Term Liabilities $159.4M $10.98M
YoY Change 1351.53% -86.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.8M $129.3M
Total Long-Term Liabilities $159.4M $10.98M
Total Liabilities $321.7M $332.0M
YoY Change -3.09% 37.3%
SHAREHOLDERS EQUITY
Retained Earnings $268.7M
YoY Change 7.45%
Common Stock $88.94M
YoY Change 7.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.16M
YoY Change 119.62%
Treasury Stock Shares $3.061M $3.061M
Shareholders Equity $339.7M $333.8M
YoY Change
Total Liabilities & Shareholders Equity $661.3M $665.8M
YoY Change -0.68% 18.47%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $3.887M $3.106M
YoY Change 25.14% -44.53%
Depreciation, Depletion And Amortization $1.839M $1.577M
YoY Change 16.61% -23.26%
Cash From Operating Activities $19.76M -$11.83M
YoY Change -267.03% -191.28%
INVESTING ACTIVITIES
Capital Expenditures -$3.410M -$3.850M
YoY Change -11.43% 129.17%
Acquisitions
YoY Change
Other Investing Activities -$5.080M -$50.00K
YoY Change 10060.0% -93.83%
Cash From Investing Activities -$8.490M -$3.900M
YoY Change 117.69% 56.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.430M 14.65M
YoY Change -164.37% -190.54%
NET CHANGE
Cash From Operating Activities 19.76M -11.83M
Cash From Investing Activities -8.490M -3.900M
Cash From Financing Activities -9.430M 14.65M
Net Change In Cash 1.840M -1.080M
YoY Change -270.37% -81.09%
FREE CASH FLOW
Cash From Operating Activities $19.76M -$11.83M
Capital Expenditures -$3.410M -$3.850M
Free Cash Flow $23.17M -$7.980M
YoY Change -390.35% -154.51%

Facts In Submission

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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
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-1227000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-16000
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.10
CY2017Q2 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
950000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1565000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1224000
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.286
CY2019Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.280
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1360000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2584000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.234
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.268
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2604000
CY2019 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
3
CY2019 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
37972000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
981000
CY2019 avd Business Combination Deferred Consideration Paid
BusinessCombinationDeferredConsiderationPaid
3051000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
19867000
CY2019Q4 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
14000
CY2019 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
60904000
CY2019Q4 avd Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Working Capital And Fixed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedWorkingCapitalAndFixedAssets
10432000
CY2019Q4 avd Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indemnification Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndemnificationAssets
3384000
CY2019Q4 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
10000000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
1407000
CY2019Q4 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
6000

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