2022 Q4 Form 10-Q Financial Statement

#000150433722000030 Filed on October 31, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $526.8M $538.8M $450.5M
YoY Change 7.55% 19.6% -1.51%
Cost Of Revenue $491.4M $454.8M $398.2M
YoY Change 14.52% 14.21% 5.18%
Gross Profit $35.40M $84.00M $52.30M
YoY Change -41.68% 60.61% -33.63%
Gross Profit Margin 6.72% 15.59% 11.61%
Selling, General & Admin $33.40M $32.90M $28.30M
YoY Change 9.87% 16.25% -3.41%
% of Gross Profit 94.35% 39.17% 54.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.90M $26.20M $25.90M
YoY Change 1.97% 1.16% -6.5%
% of Gross Profit 73.16% 31.19% 49.52%
Operating Expenses $34.10M $32.90M $28.30M
YoY Change -289.44% 16.25% -3.41%
Operating Profit $1.300M $48.90M $13.80M
YoY Change -98.35% 254.35% -71.95%
Interest Expense -$7.300M $8.000M $8.500M
YoY Change -17.98% -5.88% -27.35%
% of Operating Profit -561.54% 16.36% 61.59%
Other Income/Expense, Net -$1.400M -$9.400M -$12.20M
YoY Change -44.0% -22.95% -31.84%
Pretax Income -$8.100M $39.50M $1.700M
YoY Change -151.59% 2223.53% -94.57%
Income Tax -$2.300M $18.90M -$300.0K
% Of Pretax Income 47.85% -17.65%
Net Earnings -$5.900M $20.60M $1.900M
YoY Change -161.46% 984.21% -91.12%
Net Earnings / Revenue -1.12% 3.82% 0.42%
Basic Earnings Per Share $1.23 $0.12
Diluted Earnings Per Share -$0.34 $1.21 $0.11
COMMON SHARES
Basic Shares Outstanding 16.76M shares 16.74M shares 16.69M shares
Diluted Shares Outstanding 17.09M shares 16.97M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.70M $50.80M $27.80M
YoY Change 113.1% 82.73% -41.47%
Cash & Equivalents $53.70M $50.80M $27.80M
Short-Term Investments
Other Short-Term Assets $19.90M $12.10M $10.00M
YoY Change 17.75% 21.0% 17.65%
Inventory $324.0M $326.8M $286.4M
Prepaid Expenses
Receivables $178.2M $178.3M $156.5M
Other Receivables $2.900M $2.000M $1.600M
Total Short-Term Assets $586.3M $570.2M $483.6M
YoY Change 20.34% 17.91% -1.71%
LONG-TERM ASSETS
Property, Plant & Equipment $1.017B $1.023B $1.110B
YoY Change -5.98% -7.8% -7.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.1M $110.3M $124.9M
YoY Change -17.34% -11.69% 575.14%
Total Long-Term Assets $1.117B $1.133B $1.235B
YoY Change -7.12% -8.19% -7.52%
TOTAL ASSETS
Total Short-Term Assets $586.3M $570.2M $483.6M
Total Long-Term Assets $1.117B $1.133B $1.235B
Total Assets $1.704B $1.704B $1.718B
YoY Change 0.79% -0.84% -5.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $213.0M $189.0M $171.4M
YoY Change 26.56% 10.27% 21.99%
Accrued Expenses $98.10M $85.40M $70.90M
YoY Change 45.33% 20.45% 49.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $900.0K $1.000M $1.600M
YoY Change -43.75% -37.5% -5.88%
Total Short-Term Liabilities $312.0M $295.1M $256.9M
YoY Change 22.79% 14.87% 7.22%
LONG-TERM LIABILITIES
Long-Term Debt $564.9M $564.9M $676.5M
YoY Change -11.4% -16.5% -13.88%
Other Long-Term Liabilities $94.00M $71.30M $81.80M
YoY Change 27.72% -12.84% 261.95%
Total Long-Term Liabilities $564.9M $564.9M $676.5M
YoY Change -11.4% -16.5% -16.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $312.0M $295.1M $256.9M
Total Long-Term Liabilities $564.9M $564.9M $676.5M
Total Liabilities $1.132B $1.134B $1.227B
YoY Change -3.97% -7.51% -7.84%
SHAREHOLDERS EQUITY
Retained Earnings $576.8M $582.7M $521.2M
YoY Change 8.69% 11.8% -2.82%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $572.1M $569.2M $491.6M
YoY Change
Total Liabilities & Shareholders Equity $1.704B $1.704B $1.718B
YoY Change 0.79% -0.84% -5.96%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$5.900M $20.60M $1.900M
YoY Change -161.46% 984.21% -91.12%
Depreciation, Depletion And Amortization $25.90M $26.20M $25.90M
YoY Change 1.97% 1.16% -6.5%
Cash From Operating Activities $17.50M $13.30M $16.30M
YoY Change -45.48% -18.4% -70.74%
INVESTING ACTIVITIES
Capital Expenditures $13.60M $6.700M $8.900M
YoY Change -260.0% -24.72% -8.25%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$13.60M -$6.700M -$8.900M
YoY Change -383.33% -24.72% -8.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $25.30M $40.50M
YoY Change -37.53% -87.25%
Cash From Financing Activities -1.000M -$25.70M -$40.50M
YoY Change -97.47% -36.54% -13.28%
NET CHANGE
Cash From Operating Activities 17.50M $13.30M $16.30M
Cash From Investing Activities -13.60M -$6.700M -$8.900M
Cash From Financing Activities -1.000M -$25.70M -$40.50M
Net Change In Cash 2.900M -$19.10M -$33.10M
YoY Change -211.54% -42.3% 4628.57%
FREE CASH FLOW
Cash From Operating Activities $17.50M $13.30M $16.30M
Capital Expenditures $13.60M $6.700M $8.900M
Free Cash Flow $3.900M $6.600M $7.400M
YoY Change -90.39% -10.81% -83.91%

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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Reorganization Items
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CY2022Q3 us-gaap Other Cost And Expense Operating
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2022Q3 us-gaap Reorganization Items
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0 usd
CY2021Q3 us-gaap Reorganization Items
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us-gaap Reorganization Items
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CY2022Q1 us-gaap Reorganization Items
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CY2021Q3 us-gaap Reorganization Items
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CY2021Q2 us-gaap Other Cost And Expense Operating
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CY2022Q3 us-gaap Amortization Of Financing Costs
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CY2021Q3 us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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CY2022Q3 us-gaap Interest Income Other
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CY2021Q3 us-gaap Interest Income Other
InterestIncomeOther
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us-gaap Interest Income Other
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us-gaap Interest Income Other
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600000 usd
CY2022Q3 us-gaap Interest Income Expense Nonoperating Net
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CY2022Q3 us-gaap Write Off Of Deferred Debt Issuance Cost
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0 usd
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500000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
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500000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
500000 usd
CY2022Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
1400000 usd
CY2021Q3 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
2800000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
4300000 usd
us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent
7800000 usd
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9400000 usd
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2021Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2500000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1700000 usd
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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3500000 usd
CY2022Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
16400000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
900000 shares
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4000000.0 usd
CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
3800000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
9600000 usd
us-gaap Share Based Compensation
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6900000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2021Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1800000 usd
CY2022Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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16754000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16689000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17093000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16971000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17085000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16689000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
600000 shares
CY2022Q3 us-gaap Revenues
Revenues
538800000 usd
CY2021Q3 us-gaap Revenues
Revenues
450500000 usd
us-gaap Revenues
Revenues
1553300000 usd
us-gaap Revenues
Revenues
1282800000 usd
CY2022Q3 us-gaap Other Operating Income Expense Net
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CY2021Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
48900000 usd
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2022Q3 us-gaap Revenues
Revenues
538800000 usd
CY2021Q3 us-gaap Revenues
Revenues
450500000 usd
us-gaap Revenues
Revenues
1553300000 usd
us-gaap Revenues
Revenues
1282800000 usd

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