2022 Q2 Form 10-Q Financial Statement

#000000894722000132 Filed on July 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q2
Revenue $314.4M $224.7M $229.8M
YoY Change 36.8% 14.84% 7.75%
Cost Of Revenue $229.9M $169.4M $171.9M
YoY Change 33.77% 13.03% 0.48%
Gross Profit $84.46M $55.22M $57.93M
YoY Change 45.8% 20.64% 37.24%
Gross Profit Margin 26.86% 24.58% 25.2%
Selling, General & Admin $44.55M $31.01M $27.22M
YoY Change 63.68% 13.58% -2.42%
% of Gross Profit 52.74% 56.15% 46.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.12M $11.44M $11.08M
YoY Change 36.4% 10.03% -5.26%
% of Gross Profit 17.9% 20.72% 19.13%
Operating Expenses $44.55M $31.01M $27.22M
YoY Change 63.68% 13.58% -2.42%
Operating Profit $39.91M $24.21M $30.71M
YoY Change 29.95% 31.08% 114.5%
Interest Expense $7.473M -$1.314M $1.697M
YoY Change 340.37% -42.87% -35.57%
% of Operating Profit 18.72% -5.43% 5.53%
Other Income/Expense, Net -$798.0K $762.0K $969.0K
YoY Change -182.35% -862.0% -166.55%
Pretax Income $31.64M $25.46M $29.98M
YoY Change 5.52% 55.22% 193.16%
Income Tax $7.562M $3.834M $7.647M
% Of Pretax Income 23.9% 15.06% 25.5%
Net Earnings $24.08M $21.62M $22.34M
YoY Change 7.79% 33.8% 303.12%
Net Earnings / Revenue 7.66% 9.62% 9.72%
Basic Earnings Per Share $0.97 $0.89
Diluted Earnings Per Share $0.96 $867.9K $0.88
COMMON SHARES
Basic Shares Outstanding 24.71M shares 25.05M shares
Diluted Shares Outstanding 25.68M shares 25.27M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.0M $15.08M $12.40M
YoY Change 714.3% 1.91% -53.02%
Cash & Equivalents $101.0M $15.08M $12.40M
Short-Term Investments
Other Short-Term Assets $18.37M $3.706M $16.84M
YoY Change 9.1% -61.4% 77.25%
Inventory $189.4M $126.1M $99.95M
Prepaid Expenses
Receivables $255.7M $167.0M $134.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $720.4M $386.5M $334.9M
YoY Change 115.1% 26.71% -0.04%
LONG-TERM ASSETS
Property, Plant & Equipment $491.7M $230.8M $207.7M
YoY Change 136.76% 11.47% -3.38%
Goodwill $918.9M $385.6M $354.8M
YoY Change 158.96% 8.97% -0.27%
Intangibles $594.2M $81.56M $93.11M
YoY Change 538.17% -10.8% -9.79%
Long-Term Investments
YoY Change
Other Assets $5.217M $5.191M
YoY Change
Total Long-Term Assets $2.062B $746.5M $704.3M
YoY Change 192.75% 7.54% -1.59%
TOTAL ASSETS
Total Short-Term Assets $720.4M $386.5M $334.9M
Total Long-Term Assets $2.062B $746.5M $704.3M
Total Assets $2.782B $1.133B $1.039B
YoY Change 167.72% 13.39% -1.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $185.6M $43.99M $48.83M
YoY Change 280.18% 5.89% 6.4%
Accrued Expenses $93.71M $59.83M $60.07M
YoY Change 56.02% 6.28% 34.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.00M $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $334.4M $150.5M $131.2M
YoY Change 154.9% 29.06% -45.25%
LONG-TERM LIABILITIES
Long-Term Debt $1.595B $226.5M $185.4M
YoY Change 760.02% 26.94% 97.46%
Other Long-Term Liabilities $74.80M $5.366M $6.030M
YoY Change 1140.51% -40.17% -20.7%
Total Long-Term Liabilities $1.670B $231.9M $191.5M
YoY Change 772.0% 23.73% 88.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $334.4M $150.5M $131.2M
Total Long-Term Liabilities $1.670B $231.9M $191.5M
Total Liabilities $2.095B $465.7M $401.8M
YoY Change 421.3% 23.87% -3.2%
SHAREHOLDERS EQUITY
Retained Earnings $604.0M $584.2M $559.2M
YoY Change 8.02% 6.74% -2.5%
Common Stock $110.2M $110.5M $100.7M
YoY Change 9.49% 9.35% 7.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $687.6M $667.4M $637.4M
YoY Change
Total Liabilities & Shareholders Equity $2.782B $1.133B $1.039B
YoY Change 167.72% 13.39% -1.1%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q2
OPERATING ACTIVITIES
Net Income $24.08M $21.62M $22.34M
YoY Change 7.79% 33.8% 303.12%
Depreciation, Depletion And Amortization $15.12M $11.44M $11.08M
YoY Change 36.4% 10.03% -5.26%
Cash From Operating Activities $23.31M $36.34M $11.06M
YoY Change 110.8% 11.48% -198.89%
INVESTING ACTIVITIES
Capital Expenditures $7.809M -$9.274M $7.489M
YoY Change 4.27% 0.8% -30.96%
Acquisitions $1.299B $0.00
YoY Change
Other Investing Activities -$1.298B -$61.14M $23.00K
YoY Change -5645665.22% 1289.45%
Cash From Investing Activities -$1.306B -$70.41M -$7.466M
YoY Change 17396.5% 417.72% -31.17%
FINANCING ACTIVITIES
Cash Dividend Paid $4.192M $4.245M
YoY Change -1.25% -4.07%
Common Stock Issuance & Retirement, Net $0.00 $6.264M
YoY Change -100.0%
Debt Paid & Issued, Net $87.56M $0.00
YoY Change
Cash From Financing Activities $1.369B 30.08M -$5.610M
YoY Change -24501.78% -224.29% -150.83%
NET CHANGE
Cash From Operating Activities $23.31M 36.34M $11.06M
Cash From Investing Activities -$1.306B -70.41M -$7.466M
Cash From Financing Activities $1.369B 30.08M -$5.610M
Net Change In Cash $85.92M -3.989M -$2.434M
YoY Change -3629.83% -23.29% -76.31%
FREE CASH FLOW
Cash From Operating Activities $23.31M $36.34M $11.06M
Capital Expenditures $7.809M -$9.274M $7.489M
Free Cash Flow $15.51M $45.62M $3.571M
YoY Change 334.19% 9.13% -116.21%

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FinanceLeaseLiabilityToBePaidAfterYearFour
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CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q2 azz Lessee Operating Lease Liability And Finance Lease Liability Payments Due
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CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q2 us-gaap Operating Lease Liability
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CY2022Q2 azz Lessee Operating Lease Liability And Finance Lease Liability
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CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
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22200000 USD
CY2022Q2 azz Environmental Liability Current
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1700000 USD

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