$CVGI
Commercial Vehicle Group, Inc.

2015 Q1 Form 10-Q Financial Statement

#000119312515178987 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $220.3M $198.1M
YoY Change 11.22% 11.39%
Cost Of Revenue $191.2M $173.8M
YoY Change 10.05% 8.78%
Gross Profit $29.07M $24.30M
YoY Change 19.63% 34.42%
Gross Profit Margin 13.2% 12.27%
Selling, General & Admin $17.54M $18.47M
YoY Change -5.05% 2.91%
% of Gross Profit 60.33% 76.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.478M $4.337M
YoY Change 3.25% 0.44%
% of Gross Profit 15.4% 17.84%
Operating Expenses $17.54M $18.47M
YoY Change -5.05% 2.91%
Operating Profit $11.20M $5.448M
YoY Change 105.54% -2095.6%
Interest Expense $5.097M $5.108M
YoY Change -0.22% -4.59%
% of Operating Profit 45.52% 93.76%
Other Income/Expense, Net
YoY Change
Pretax Income $6.101M $340.0K
YoY Change 1694.41% -106.04%
Income Tax $2.508M $848.0K
% Of Pretax Income 41.11% 249.41%
Net Earnings $3.592M -$506.0K
YoY Change -809.88% -89.03%
Net Earnings / Revenue 1.63% -0.26%
Basic Earnings Per Share $0.12 -$0.02
Diluted Earnings Per Share $0.12 -$0.02
COMMON SHARES
Basic Shares Outstanding 29.15M shares 28.86M shares
Diluted Shares Outstanding 29.21M shares 28.86M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.20M $73.90M
YoY Change 9.88% 13.17%
Cash & Equivalents $73.95M
Short-Term Investments
Other Short-Term Assets $7.831M $7.783M
YoY Change 0.62% -15.12%
Inventory $81.32M $82.50M
Prepaid Expenses
Receivables $157.2M $137.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $336.8M $310.2M
YoY Change 8.58% 6.57%
LONG-TERM ASSETS
Property, Plant & Equipment $71.41M $75.40M
YoY Change -5.29% -9.92%
Goodwill $8.150M $8.417M
YoY Change -3.17% -6.3%
Intangibles $20.23M
YoY Change -10.66%
Long-Term Investments
YoY Change
Other Assets $9.003M $11.50M
YoY Change -21.69% -21.06%
Total Long-Term Assets $129.0M $139.9M
YoY Change -7.81% -9.15%
TOTAL ASSETS
Total Short-Term Assets $336.8M $310.2M
Total Long-Term Assets $129.0M $139.9M
Total Assets $465.8M $450.1M
YoY Change 3.48% 1.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.43M $79.75M
YoY Change 9.64% 21.38%
Accrued Expenses $41.80M $40.77M
YoY Change 2.53% 23.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $130.0M $120.5M
YoY Change 7.83% 22.07%
LONG-TERM LIABILITIES
Long-Term Debt $250.0M $250.0M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $3.156M $2.574M
YoY Change 22.61% -58.04%
Total Long-Term Liabilities $253.2M $252.6M
YoY Change 0.23% -1.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $130.0M $120.5M
Total Long-Term Liabilities $253.2M $252.6M
Total Liabilities $405.6M $389.7M
YoY Change 4.09% 2.14%
SHAREHOLDERS EQUITY
Retained Earnings -$125.9M -$137.6M
YoY Change -8.52% 6.45%
Common Stock $232.9M $229.9M
YoY Change 1.27% 2.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.622M $6.095M
YoY Change 8.65% 15.79%
Treasury Stock Shares 779.5K shares 689.2K shares
Shareholders Equity $60.11M $60.40M
YoY Change
Total Liabilities & Shareholders Equity $465.8M $450.1M
YoY Change 3.48% 1.13%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $3.592M -$506.0K
YoY Change -809.88% -89.03%
Depreciation, Depletion And Amortization $4.478M $4.337M
YoY Change 3.25% 0.44%
Cash From Operating Activities $15.99M $1.295M
YoY Change 1134.75% -146.33%
INVESTING ACTIVITIES
Capital Expenditures $2.710M $1.475M
YoY Change 83.73% -35.7%
Acquisitions
YoY Change
Other Investing Activities $20.00K $10.00K
YoY Change 100.0% -104.0%
Cash From Investing Activities -$2.690M -$1.464M
YoY Change 83.74% -42.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 1.041M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 15.99M 1.295M
Cash From Investing Activities -2.690M -1.464M
Cash From Financing Activities 0.000 1.041M
Net Change In Cash 13.30M 872.0K
YoY Change 1425.23% -116.33%
FREE CASH FLOW
Cash From Operating Activities $15.99M $1.295M
Capital Expenditures $2.710M $1.475M
Free Cash Flow $13.28M -$180.0K
YoY Change -7477.78% -96.46%

Facts In Submission

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CY2015Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
28000
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29149000 shares
CY2015Q1 us-gaap Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
39000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3008000
CY2015Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-5161000
CY2015Q1 us-gaap Gross Profit
GrossProfit
29074000
CY2015Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
661000
CY2015Q1 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-161000
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-3008000
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2947000
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2913000
CY2015Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-46000
CY2015Q1 us-gaap Profit Loss
ProfitLoss
3593000
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
95000
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-2947000
CY2015Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1340000
CY2015Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-108000
CY2015Q1 us-gaap Pension Contributions
PensionContributions
640000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
11198000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
645000
CY2015Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1136000
CY2015Q1 us-gaap Standard Product Warranty Accrual Currency Translation Increase Decrease
StandardProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-39000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6101000
CY2015Q1 us-gaap Revenues
Revenues
220303000
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2710000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
3592000
CY2015Q1 us-gaap Interest Paid
InterestPaid
43000
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19211000
CY2015Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
665000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-3008000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
646000
CY2015Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
209000
CY2015Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2015Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2094000
CY2015Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4478000
CY2015Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2209000
CY2015Q1 us-gaap Interest Expense
InterestExpense
5097000
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17540000
CY2015Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
223000
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
825000
CY2015Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
0
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
336000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11096000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2508000
CY2015Q1 us-gaap Cost Of Revenue
CostOfRevenue
191229000
CY2015Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
94000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
0
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
-34000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0
CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
60000
CY2015Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
719000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-2689000
CY2015Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-61000
CY2015Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-34000
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-61000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17197000
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000
CY2015Q1 us-gaap Other General Expense
OtherGeneralExpense
679000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
665000
CY2015Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1000
CY2015Q1 us-gaap Defined Benefit Plan Expected Contributions In Current Fiscal Year
DefinedBenefitPlanExpectedContributionsInCurrentFiscalYear
3000000
CY2015Q1 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
28000
CY2015Q1 cvgi Capital Expenditures
CapitalExpenditures
2919000

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