2019 Q4 Form 10-K Financial Statement

#000156459020005707 Filed on February 21, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 2018 Q4
Revenue $107.6M $424.6M $104.4M
YoY Change 3.01% -2.1% 8.03%
Cost Of Revenue $66.40M $261.1M $64.30M
YoY Change 3.27% -3.79% 11.63%
Gross Profit $41.13M $163.5M $40.15M
YoY Change 2.43% 0.73% 2.94%
Gross Profit Margin 38.24% 38.51% 38.45%
Selling, General & Admin $24.80M $101.4M $24.80M
YoY Change 0.0% -3.89% -1.2%
% of Gross Profit 60.3% 62.0% 61.77%
Research & Development $11.90M
YoY Change 7.21%
% of Gross Profit 7.28%
Depreciation & Amortization $6.140M $11.57M $5.830M
YoY Change 5.32% 1.89% -6.42%
% of Gross Profit 14.93% 7.07% 14.52%
Operating Expenses $24.80M $113.3M $24.80M
YoY Change 0.0% -2.83% -1.59%
Operating Profit $16.33M $62.15M $15.35M
YoY Change 6.34% 9.28% 11.21%
Interest Expense $0.00 -$300.0K -$200.0K
YoY Change -100.0% -75.0% 0.0%
% of Operating Profit 0.0% -0.48% -1.3%
Other Income/Expense, Net -$200.0K -$300.0K
YoY Change
Pretax Income $16.20M $61.61M $14.60M
YoY Change 10.96% 95.06% 13.18%
Income Tax $3.900M $14.43M $3.300M
% Of Pretax Income 24.07% 23.42% 22.6%
Net Earnings $12.27M $47.18M $11.24M
YoY Change 9.21% 69.76% 55.39%
Net Earnings / Revenue 11.41% 11.11% 10.76%
Basic Earnings Per Share $0.42 $1.63 $0.39
Diluted Earnings Per Share $0.42 $1.61 $0.39
COMMON SHARES
Basic Shares Outstanding 29.11M 29.03K 29.11M shares
Diluted Shares Outstanding 29.22K

Balance Sheet

Concept 2019 Q4 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.90M $48.90M $13.10M
YoY Change 273.28% 273.28% 16.96%
Cash & Equivalents $48.87M $48.90M $13.09M
Short-Term Investments
Other Short-Term Assets $7.900M $7.900M $4.500M
YoY Change 75.56% 75.56% 9.76%
Inventory $81.95M $81.90M $80.80M
Prepaid Expenses
Receivables $61.37M $61.40M $66.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $200.1M $200.1M $164.7M
YoY Change 21.52% 21.49% 3.81%
LONG-TERM ASSETS
Property, Plant & Equipment $85.76M $85.80M $90.32M
YoY Change -5.05% -4.98% -3.5%
Goodwill $71.30M $71.30M
YoY Change 0.0% 5.75%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.88M $16.60M $8.872M
YoY Change 78.93% 50.91% -10.36%
Total Long-Term Assets $221.8M $221.8M $228.0M
YoY Change -2.73% -2.72% -2.18%
TOTAL ASSETS
Total Short-Term Assets $200.1M $200.1M $164.7M
Total Long-Term Assets $221.8M $221.8M $228.0M
Total Assets $421.9M $421.9M $392.7M
YoY Change 7.44% 7.44% 0.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.52M $11.40M $22.47M
YoY Change 40.3% -49.33% -21.44%
Accrued Expenses $12.80M $12.80M $13.80M
YoY Change -7.25% -7.25% -10.97%
Deferred Revenue
YoY Change
Short-Term Debt $4.480M $4.500M $18.06M
YoY Change -75.19% -75.14% -59.46%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $57.25M $57.20M $60.02M
YoY Change -4.61% -4.67% -35.54%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $22.98M $32.70M $13.97M
YoY Change 64.47% 26.74% 243.04%
Total Long-Term Liabilities $22.98M $32.70M $13.97M
YoY Change 64.47% 26.74% 243.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $57.25M $57.20M $60.02M
Total Long-Term Liabilities $22.98M $32.70M $13.97M
Total Liabilities $80.23M $90.80M $73.99M
YoY Change 8.43% 1.79% -23.87%
SHAREHOLDERS EQUITY
Retained Earnings $285.9M $257.3M
YoY Change 11.1% 5.36%
Common Stock $79.16M $75.28M
YoY Change 5.15% 8.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.24M $29.36M
YoY Change 16.6% 18.57%
Treasury Stock Shares $8.082M $8.080M
Shareholders Equity $331.1M $331.1M $303.5M
YoY Change
Total Liabilities & Shareholders Equity $421.9M $421.9M $392.7M
YoY Change 7.44% 7.44% 0.25%

Cashflow Statement

Concept 2019 Q4 2019 2018 Q4
OPERATING ACTIVITIES
Net Income $12.27M $47.18M $11.24M
YoY Change 9.21% 69.76% 55.39%
Depreciation, Depletion And Amortization $6.140M $11.57M $5.830M
YoY Change 5.32% 1.89% -6.42%
Cash From Operating Activities $19.57M $80.71M $20.47M
YoY Change -4.4% 33.74% 435.86%
INVESTING ACTIVITIES
Capital Expenditures -$1.910M $7.496M -$1.420M
YoY Change 34.51% -13.27% -59.66%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.910M -$7.496M -$1.420M
YoY Change 34.51% -55.09% -74.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.207M
YoY Change 8.59%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.650M -37.71M -16.79M
YoY Change -60.39% -10.51% -3328.85%
NET CHANGE
Cash From Operating Activities 19.57M 80.71M 20.47M
Cash From Investing Activities -1.910M -7.496M -1.420M
Cash From Financing Activities -6.650M -37.71M -16.79M
Net Change In Cash 11.01M 35.79M 2.260M
YoY Change 387.17% 1761.86% -291.53%
FREE CASH FLOW
Cash From Operating Activities $19.57M $80.71M $20.47M
Capital Expenditures -$1.910M $7.496M -$1.420M
Free Cash Flow $21.48M $73.22M $21.89M
YoY Change -1.87% 41.6% 198.23%

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1443000
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1215000
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4402000
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3826000
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867000
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4176000
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1102000
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1844000
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359000
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1725000
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4402000
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-13657000
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16273000
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292000
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1053000
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3200000
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2800000
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7500000
CY2017 us-gaap Amortization Of Intangible Assets
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6800000
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0
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4206000
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3367000
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CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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13173000
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<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:7.03%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.</p>
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37198298
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448000
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3400000
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548653
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CY2017 us-gaap Lease And Rental Expense
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876000
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500000
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62639000
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31584000
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52745000
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-1032000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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4268000
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2088000
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61607000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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1205000

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