$CIX
COMPX INTERNATIONAL INC

2018 Q3 Form 10-Q Financial Statement

#000156459018025848 Filed on October 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $30.00M $27.00M
YoY Change 11.11% -4.93%
Cost Of Revenue $20.44M $18.79M
YoY Change 8.73% -1.14%
Gross Profit $9.600M $8.200M
YoY Change 17.07% -12.77%
Gross Profit Margin 32.0% 30.37%
Selling, General & Admin $5.074M $4.830M
YoY Change 5.05% -2.03%
% of Gross Profit 52.85% 58.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $858.0K $920.0K
YoY Change -6.74% -2.13%
% of Gross Profit 8.94% 11.22%
Operating Expenses $5.074M $4.830M
YoY Change 5.05% -1.83%
Operating Profit $4.500M $3.400M
YoY Change 32.35% -24.44%
Interest Expense $697.0K $550.0K
YoY Change 26.73% 511.11%
% of Operating Profit 15.49% 16.18%
Other Income/Expense, Net
YoY Change
Pretax Income $5.217M $3.910M
YoY Change 33.43% -14.25%
Income Tax $1.286M $1.420M
% Of Pretax Income 24.65% 36.32%
Net Earnings $3.900M $2.500M
YoY Change 56.0% -16.67%
Net Earnings / Revenue 13.0% 9.26%
Basic Earnings Per Share
Diluted Earnings Per Share $316.1K $201.1K
COMMON SHARES
Basic Shares Outstanding 12.44M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.74M $28.80M
YoY Change 51.89% -36.56%
Cash & Equivalents $43.74M $28.79M
Short-Term Investments
Other Short-Term Assets $908.0K $700.0K
YoY Change 29.71% 0.0%
Inventory $17.16M $15.30M
Prepaid Expenses
Receivables $13.35M $11.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $75.16M $56.60M
YoY Change 32.78% -23.2%
LONG-TERM ASSETS
Property, Plant & Equipment $31.54M $32.60M
YoY Change -3.24% -1.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $33.00M $36.70M
YoY Change -10.08% 242.99%
Other Assets $590.0K $600.0K
YoY Change -1.67% 0.0%
Total Long-Term Assets $88.88M $93.60M
YoY Change -5.05% 37.24%
TOTAL ASSETS
Total Short-Term Assets $75.16M $56.60M
Total Long-Term Assets $88.88M $93.60M
Total Assets $164.0M $150.2M
YoY Change 9.21% 5.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.277M $2.911M
YoY Change 12.57% -16.83%
Accrued Expenses $8.760M $8.500M
YoY Change 3.06% -2.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.23M $12.30M
YoY Change 7.52% -8.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $13.23M $12.30M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $16.52M $17.20M
YoY Change -3.97% -6.01%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $147.5M $133.0M
YoY Change
Total Liabilities & Shareholders Equity $164.0M $150.2M
YoY Change 9.21% 5.85%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $3.900M $2.500M
YoY Change 56.0% -16.67%
Depreciation, Depletion And Amortization $858.0K $920.0K
YoY Change -6.74% -2.13%
Cash From Operating Activities $6.705M $4.600M
YoY Change 45.76% -24.09%
INVESTING ACTIVITIES
Capital Expenditures -$672.0K -$530.0K
YoY Change 26.79% -20.9%
Acquisitions
YoY Change
Other Investing Activities $4.600M $2.800M
YoY Change 64.29% -126.17%
Cash From Investing Activities $3.928M $2.270M
YoY Change 73.04% -119.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -625.0K -620.0K
YoY Change 0.81% 0.0%
NET CHANGE
Cash From Operating Activities 6.705M 4.600M
Cash From Investing Activities 3.928M 2.270M
Cash From Financing Activities -625.0K -620.0K
Net Change In Cash 10.01M 6.250M
YoY Change 60.13% -205.4%
FREE CASH FLOW
Cash From Operating Activities $6.705M $4.600M
Capital Expenditures -$672.0K -$530.0K
Free Cash Flow $7.377M $5.130M
YoY Change 43.8% -23.77%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q3 us-gaap Inventory Net
InventoryNet
17159000
CY2018Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
13346000
CY2018Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
20435000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86943000
CY2017Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
18794000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
59552000
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
39000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3158000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12795000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2042000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30029000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
90827000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
60494000
us-gaap Profit Loss
ProfitLoss
12655000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2588000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
181000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-316000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2910000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1935000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1211000
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
718000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
29000
us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
44200000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1865000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
14088000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33153000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29655000
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
28790000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
43743000
CY2018Q3 us-gaap Due From Affiliate Noncurrent
DueFromAffiliateNoncurrent
33000000
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
26992000
cix Adjustments To Additional Paid In Capital Stock Issued
AdjustmentsToAdditionalPaidInCapitalStockIssued
139000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1865000
us-gaap Profit Loss
ProfitLoss
8951000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2747000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
62000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-252000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1386000
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
49700000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
475000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-599000
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-584000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
40000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8928000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2127000
us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
40400000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11427000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1864000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4363000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5431000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3233000
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-1900000
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
cix Terms Of Conversion
TermsOfConversion
The second amended and restated certificate of incorporation does not permit the reissuance or resale of any of the shares of Class B common stock which were converted, and on October 31, 2018, our board of directors approved the retirement of the 10,000,000 shares of Class B common stock.
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
70000
CY2018Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
70000
CY2017Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2730000
CY2018Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3001000
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9836000
CY2018Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
10864000
CY2017Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2816000
CY2018Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3294000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7413000
CY2018Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7037000
CY2017Q4 cix Accrued Customer Tooling Cost
AccruedCustomerToolingCost
290000
CY2018Q3 cix Accrued Customer Tooling Cost
AccruedCustomerToolingCost
421000
CY2017Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
289000
CY2018Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
638000
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
664000
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3525000
us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
IncomeTaxReconciliationDeductionsQualifiedProductionActivities
420000
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
400000
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
576000
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
76000
us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
31000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35

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