2022 Q1 Form 10-Q Financial Statement

#000180297422000011 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $216.6M $173.2M
YoY Change 25.06% -12.3%
Cost Of Revenue $216.1M $150.5M
YoY Change 43.59% -15.54%
Gross Profit $500.0K $22.70M
YoY Change -97.8% 17.01%
Gross Profit Margin 0.23% 13.11%
Selling, General & Admin $18.70M $14.60M
YoY Change 28.08% -0.68%
% of Gross Profit 3740.0% 64.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.500M $3.600M
YoY Change 25.0% 5.57%
% of Gross Profit 900.0% 15.86%
Operating Expenses $18.70M $14.60M
YoY Change 28.08% -0.68%
Operating Profit -$18.20M $8.100M
YoY Change -324.69% 72.34%
Interest Expense $900.0K $900.0K
YoY Change 0.0% -132.14%
% of Operating Profit 11.11%
Other Income/Expense, Net $1.600M $0.00
YoY Change -100.0%
Pretax Income -$15.90M $9.500M
YoY Change -267.37% 352.38%
Income Tax -$2.500M $7.300M
% Of Pretax Income 76.84%
Net Earnings -$13.40M $2.200M
YoY Change -709.09% 57.14%
Net Earnings / Revenue -6.19% 1.27%
Basic Earnings Per Share -$0.19 $0.03
Diluted Earnings Per Share -$0.19 $0.03
COMMON SHARES
Basic Shares Outstanding 70.63M shares 70.55M shares
Diluted Shares Outstanding 70.63M shares 70.61M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.30M $91.10M
YoY Change -72.23% 196.74%
Cash & Equivalents $25.30M $91.10M
Short-Term Investments
Other Short-Term Assets $14.20M $9.100M
YoY Change 56.04% 18.18%
Inventory $79.30M $48.00M
Prepaid Expenses
Receivables $101.2M $70.20M
Other Receivables $9.200M $14.50M
Total Short-Term Assets $245.7M $232.9M
YoY Change 5.5% 29.03%
LONG-TERM ASSETS
Property, Plant & Equipment $436.1M $402.9M
YoY Change 8.24% 18.47%
Goodwill $76.40M
YoY Change
Intangibles
YoY Change
Long-Term Investments $51.90M $49.60M
YoY Change 4.64% -21.02%
Other Assets $18.70M $75.30M
YoY Change -75.17% -4.8%
Total Long-Term Assets $635.3M $559.1M
YoY Change 13.63% 11.93%
TOTAL ASSETS
Total Short-Term Assets $245.7M $232.9M
Total Long-Term Assets $635.3M $559.1M
Total Assets $881.0M $792.0M
YoY Change 11.24% 16.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.40M $42.60M
YoY Change 37.09% -12.88%
Accrued Expenses $41.00M $32.10M
YoY Change 27.73% 84.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.800M $8.800M
YoY Change 0.0% 8.64%
Total Short-Term Liabilities $115.1M $84.90M
YoY Change 35.57% 9.13%
LONG-TERM LIABILITIES
Long-Term Debt $152.9M $167.4M
YoY Change -8.66% -4.89%
Other Long-Term Liabilities $17.90M $27.30M
YoY Change -34.43% 4.6%
Total Long-Term Liabilities $170.8M $194.7M
YoY Change -12.28% -3.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.1M $84.90M
Total Long-Term Liabilities $170.8M $194.7M
Total Liabilities $359.7M $314.9M
YoY Change 14.23% 2.57%
SHAREHOLDERS EQUITY
Retained Earnings $295.6M
YoY Change
Common Stock $100.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $521.3M $477.1M
YoY Change
Total Liabilities & Shareholders Equity $881.0M $792.0M
YoY Change 11.24% 16.47%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$13.40M $2.200M
YoY Change -709.09% 57.14%
Depreciation, Depletion And Amortization $4.500M $3.600M
YoY Change 25.0% 5.57%
Cash From Operating Activities -$41.40M -$9.700M
YoY Change 326.8% -22.65%
INVESTING ACTIVITIES
Capital Expenditures $20.90M $22.40M
YoY Change -6.7% -352.25%
Acquisitions
YoY Change
Other Investing Activities $200.0K $200.0K
YoY Change 0.0% -110.05%
Cash From Investing Activities -$20.10M -$20.60M
YoY Change -2.43% 89.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.200M $2.200M
YoY Change 0.0%
Cash From Financing Activities -$2.500M -$2.500M
YoY Change 0.0% -72.91%
NET CHANGE
Cash From Operating Activities -$41.40M -$9.700M
Cash From Investing Activities -$20.10M -$20.60M
Cash From Financing Activities -$2.500M -$2.500M
Net Change In Cash -$64.00M -$32.70M
YoY Change 95.72% 0.18%
FREE CASH FLOW
Cash From Operating Activities -$41.40M -$9.700M
Capital Expenditures $20.90M $22.40M
Free Cash Flow -$62.30M -$32.10M
YoY Change 94.08% 777.05%

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0 USD
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800000 USD
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500000 USD
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400000 USD
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1600000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
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300000 USD
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100000 USD
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400000 USD
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13700000 USD
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7600000 USD
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CY2022Q1 us-gaap Interest Expense
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CY2021Q1 us-gaap Interest Expense
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900000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
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IncomeTaxExpenseBenefit
7300000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
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4500000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
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3600000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1600000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2300000 USD
CY2022Q1 us-gaap Share Based Compensation
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800000 USD
CY2021Q1 us-gaap Share Based Compensation
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800000 USD
CY2022Q1 avo Sale Of Assets And Asset Impairment Charges
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100000 USD
CY2021Q1 avo Sale Of Assets And Asset Impairment Charges
SaleOfAssetsAndAssetImpairmentCharges
0 USD
CY2022Q1 avo Farming Costs For Non Productive Orchards
FarmingCostsForNonProductiveOrchards
500000 USD
CY2021Q1 avo Farming Costs For Non Productive Orchards
FarmingCostsForNonProductiveOrchards
0 USD
CY2022Q1 avo Software Implementation Costs Noncapitalizable
SoftwareImplementationCostsNoncapitalizable
1500000 USD
CY2021Q1 avo Software Implementation Costs Noncapitalizable
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0 USD
CY2022Q1 us-gaap Business Combination Acquisition Related Costs
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400000 USD
CY2021Q1 us-gaap Business Combination Acquisition Related Costs
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0 USD
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1600000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD

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