2022 Q2 Form 10-Q Financial Statement

#000001784322000008 Filed on April 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $563.7M $489.0M $396.0M
YoY Change 33.7% 38.96% 13.53%
Cost Of Revenue $491.7M $449.5M $382.9M
YoY Change 11.42% 33.58% 11.7%
Gross Profit $72.00M $39.50M $13.10M
YoY Change -465.48% 208.59% 118.33%
Gross Profit Margin 12.77% 8.08% 3.31%
Selling, General & Admin $47.40M $38.40M $44.60M
YoY Change -1.04% -19.67% 5.69%
% of Gross Profit 65.83% 97.22% 340.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.90M $33.20M $32.80M
YoY Change 2.81% 3.75% 14.69%
% of Gross Profit 45.69% 84.05% 250.38%
Operating Expenses $47.40M $38.40M $44.60M
YoY Change -1.04% -19.67% 5.69%
Operating Profit $24.60M $1.100M -$31.50M
YoY Change -136.39% -102.75% -64.61%
Interest Expense -$18.10M $11.20M $10.10M
YoY Change 158.57% 25.84% 27.85%
% of Operating Profit -73.58% 1018.18%
Other Income/Expense, Net $4.900M $1.800M $6.600M
YoY Change -508.33% -121.69% 407.69%
Pretax Income $5.400M -$8.300M -$35.00M
YoY Change -106.84% -85.49% -63.39%
Income Tax $2.800M -$800.0K -$5.600M
% Of Pretax Income 51.85%
Net Earnings $2.600M -$7.500M -$29.40M
YoY Change -104.55% -81.48% -65.37%
Net Earnings / Revenue 0.46% -1.53% -7.42%
Basic Earnings Per Share -$0.16 -$0.61
Diluted Earnings Per Share $53.61K -$0.16 -$0.61
COMMON SHARES
Basic Shares Outstanding 48.28M shares 48.60M shares 48.60M shares
Diluted Shares Outstanding 48.60M shares 48.60M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $154.2M $393.9M $96.90M
YoY Change -46.35% 61.3% -64.3%
Cash & Equivalents $154.2M $393.9M $96.90M
Short-Term Investments
Other Short-Term Assets $86.80M $143.1M $105.7M
YoY Change -9.21% 56.39% 23.19%
Inventory $496.1M $526.5M $534.7M
Prepaid Expenses
Receivables $382.3M $336.2M $307.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.119B $1.400B $1.044B
YoY Change 0.18% 21.67% -9.4%
LONG-TERM ASSETS
Property, Plant & Equipment $1.421B $1.426B $1.430B
YoY Change -2.52% 9.12% 7.8%
Goodwill $241.4M $241.4M $241.4M
YoY Change 0.0% 0.0% 0.0%
Intangibles $35.20M $37.50M $39.50M
YoY Change -18.33% -16.48% -13.0%
Long-Term Investments
YoY Change
Other Assets $109.8M $120.1M $119.5M
YoY Change 3.1% -54.27% -56.28%
Total Long-Term Assets $1.813B $1.831B $1.836B
YoY Change -2.21% -1.62% -2.95%
TOTAL ASSETS
Total Short-Term Assets $1.119B $1.400B $1.044B
Total Long-Term Assets $1.813B $1.831B $1.836B
Total Assets $2.932B $3.230B $2.880B
YoY Change -1.31% 7.28% -5.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $242.1M $214.0M $170.3M
YoY Change 70.01% 58.4% 57.1%
Accrued Expenses $133.5M $119.8M $124.0M
YoY Change -18.55% -10.73% -21.22%
Deferred Revenue $14.40M $14.00M $12.80M
YoY Change 67.44% 102.9% 132.73%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $300.0M $0.00
YoY Change
Total Short-Term Liabilities $375.6M $633.8M $294.3M
YoY Change 22.62% 135.35% 10.72%
LONG-TERM LIABILITIES
Long-Term Debt $691.8M $690.9M $695.0M
YoY Change -0.39% -0.49% 0.14%
Other Long-Term Liabilities $98.00M $102.4M $105.7M
YoY Change -2.0% 6.33% -4.34%
Total Long-Term Liabilities $789.8M $793.3M $800.7M
YoY Change -0.59% 0.34% -0.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $375.6M $633.8M $294.3M
Total Long-Term Liabilities $789.8M $793.3M $800.7M
Total Liabilities $1.602B $1.883B $1.547B
YoY Change 1.45% 15.54% -9.6%
SHAREHOLDERS EQUITY
Retained Earnings $1.211B $1.218B $1.236B
YoY Change -6.8% -10.83% -12.78%
Common Stock $600.4M $598.6M $596.0M
YoY Change -0.38% -0.15% -0.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $307.4M $307.7M $308.0M
YoY Change -3.15% -3.09% -3.02%
Treasury Stock Shares 7.739M shares 7.747M shares 7.756M shares
Shareholders Equity $1.331B $1.347B $1.333B
YoY Change
Total Liabilities & Shareholders Equity $2.932B $3.230B $2.880B
YoY Change -1.31% 7.28% -5.39%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $2.600M -$7.500M -$29.40M
YoY Change -104.55% -81.48% -65.37%
Depreciation, Depletion And Amortization $32.90M $33.20M $32.80M
YoY Change 2.81% 3.75% 14.69%
Cash From Operating Activities $107.0M $35.30M -$89.30M
YoY Change 43.43% 828.95% -206.82%
INVESTING ACTIVITIES
Capital Expenditures -$32.80M -$25.10M -$19.00M
YoY Change 49.09% 34.95% -28.57%
Acquisitions
YoY Change
Other Investing Activities $400.0K $0.00 $1.800M
YoY Change -100.0% -53.85%
Cash From Investing Activities -$32.40M -$25.10M -$17.20M
YoY Change 47.27% 35.68% -24.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -315.7M 285.7M -10.00M
YoY Change 3223.16% -2673.87% 2.04%
NET CHANGE
Cash From Operating Activities 107.0M 35.30M -89.30M
Cash From Investing Activities -32.40M -25.10M -17.20M
Cash From Financing Activities -315.7M 285.7M -10.00M
Net Change In Cash -241.1M 295.9M -116.5M
YoY Change -659.4% -1246.9% -327.98%
FREE CASH FLOW
Cash From Operating Activities $107.0M $35.30M -$89.30M
Capital Expenditures -$32.80M -$25.10M -$19.00M
Free Cash Flow $139.8M $60.40M -$70.30M
YoY Change 44.72% 169.64% -163.79%

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1500000 USD
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6900000 USD
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0 USD
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5600000 USD
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ForeignCurrencyTransactionGainLossBeforeTax
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200000 USD
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2200000 USD
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0 USD
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us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements1
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0 USD
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us-gaap Other Nonoperating Income
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1800000 USD
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us-gaap Other Nonoperating Income Expense
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12500000 USD
us-gaap Other Nonoperating Income Expense
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CY2022Q1 us-gaap Income Tax Expense Benefit
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CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.096
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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 Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2021Q1 crs Effective Income Tax Rate Reconciliation Pension Settlement Amount
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CY2021Q1 us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
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CY2021Q1 us-gaap Income Tax Reconciliation Prior Year Income Taxes
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CY2021Q1 crs Effective Income Tax Rate Reconciliation Excluding Non Deductible Expense Impairment Losses Percent
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0.293
crs Effective Income Tax Rate Reconciliation Pension Settlement Costs Amount
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us-gaap Income Tax Reconciliation Nondeductible Expense Restructuring Charges
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1200000 USD
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52800000 USD
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crs Operating Loss Carryforward Income Tax Expense Benefit Cares Act
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2 segment
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1054000000 USD
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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CY2022Q1 us-gaap Depreciation Depletion And Amortization
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33200000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
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32000000.0 USD
us-gaap Depreciation Depletion And Amortization
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98500000 USD
us-gaap Depreciation Depletion And Amortization
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91600000 USD
CY2022Q1 us-gaap Payments To Acquire Productive Assets
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25100000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
18600000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
58500000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
78500000 USD
CY2022Q1 us-gaap Assets
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3230200000 USD
CY2021Q2 us-gaap Assets
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CY2022Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
25400000 USD
CY2022Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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28400000 USD
CY2021Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
85500000 USD
CY2021Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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96100000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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23100000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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30300000 USD
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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117300000 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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131000000.0 USD

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