$CVGI
Commercial Vehicle Group, Inc.

2017 Q1 Form 10-Q Financial Statement

#000162828017004997 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $173.4M $180.3M
YoY Change -3.81% -18.16%
Cost Of Revenue $151.9M $154.6M
YoY Change -1.73% -19.16%
Gross Profit $21.50M $25.70M
YoY Change -16.34% -11.59%
Gross Profit Margin 12.4% 14.26%
Selling, General & Admin $16.62M $16.79M
YoY Change -1.02% -4.28%
% of Gross Profit 77.29% 65.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.916M $4.411M
YoY Change -11.22% -1.5%
% of Gross Profit 18.21% 17.16%
Operating Expenses $16.62M $16.79M
YoY Change -1.02% -4.28%
Operating Profit $4.557M $8.580M
YoY Change -46.89% -23.38%
Interest Expense $4.565M $4.857M
YoY Change -6.01% -4.71%
% of Operating Profit 100.18% 56.61%
Other Income/Expense, Net
YoY Change
Pretax Income -$8.000K $3.723M
YoY Change -100.21% -38.98%
Income Tax -$636.0K $1.160M
% Of Pretax Income 31.16%
Net Earnings $628.0K $2.563M
YoY Change -75.5% -28.65%
Net Earnings / Revenue 0.36% 1.42%
Basic Earnings Per Share $0.02 $0.09
Diluted Earnings Per Share $0.02 $0.09
COMMON SHARES
Basic Shares Outstanding 29.87M shares 29.45M shares
Diluted Shares Outstanding 30.19M shares 29.51M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.0M $97.80M
YoY Change 21.68% 20.44%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $16.54M $11.08M
YoY Change 49.34% 41.45%
Inventory $76.44M $71.41M
Prepaid Expenses
Receivables $113.8M $135.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $325.8M $315.4M
YoY Change 3.3% -6.35%
LONG-TERM ASSETS
Property, Plant & Equipment $65.03M $67.78M
YoY Change -4.06% -5.09%
Goodwill $7.955M $7.838M
YoY Change 1.49% -3.83%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.259M $4.518M
YoY Change -50.0% -49.82%
Total Long-Term Assets $120.3M $121.4M
YoY Change -0.87% -5.89%
TOTAL ASSETS
Total Short-Term Assets $325.8M $315.4M
Total Long-Term Assets $120.3M $121.4M
Total Assets $446.2M $436.8M
YoY Change 2.14% -6.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.12M $61.92M
YoY Change 19.7% -29.17%
Accrued Expenses $46.30M $51.40M
YoY Change -9.92% 22.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $66.34M
YoY Change
Total Short-Term Liabilities $186.8M $113.7M
YoY Change 64.35% -12.54%
LONG-TERM LIABILITIES
Long-Term Debt $167.0M $232.6M
YoY Change -28.2% -6.96%
Other Long-Term Liabilities $3.239M $3.767M
YoY Change -14.02% 19.36%
Total Long-Term Liabilities $170.3M $3.767M
YoY Change 4419.62% -98.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.8M $113.7M
Total Long-Term Liabilities $170.3M $3.767M
Total Liabilities $376.1M $367.2M
YoY Change 2.44% -9.48%
SHAREHOLDERS EQUITY
Retained Earnings -$112.8M -$119.9M
YoY Change -5.94% -4.79%
Common Stock $238.3M $235.8M
YoY Change 1.08% 1.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.753M $7.039M
YoY Change 10.14% 6.3%
Treasury Stock Shares 1.014M shares 879.4K shares
Shareholders Equity $70.00M $69.60M
YoY Change
Total Liabilities & Shareholders Equity $446.2M $436.8M
YoY Change 2.14% -6.23%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $628.0K $2.563M
YoY Change -75.5% -28.65%
Depreciation, Depletion And Amortization $3.916M $4.411M
YoY Change -11.22% -1.5%
Cash From Operating Activities -$7.382M $6.921M
YoY Change -206.66% -56.72%
INVESTING ACTIVITIES
Capital Expenditures $4.461M $1.664M
YoY Change 168.09% -38.6%
Acquisitions
YoY Change
Other Investing Activities $100.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$4.357M -$1.664M
YoY Change 161.84% -38.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00
YoY Change
NET CHANGE
Cash From Operating Activities -$7.382M $6.921M
Cash From Investing Activities -$4.357M -$1.664M
Cash From Financing Activities $0.00
Net Change In Cash -$11.74M $5.257M
YoY Change -323.3% -60.47%
FREE CASH FLOW
Cash From Operating Activities -$7.382M $6.921M
Capital Expenditures $4.461M $1.664M
Free Cash Flow -$11.84M $5.257M
YoY Change -325.28% -60.41%

Facts In Submission

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CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
-957000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
109000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
-740000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
34000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
-217000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
34000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-217000 USD
CY2016Q1 us-gaap Other General Expense
OtherGeneralExpense
888000 USD
CY2017Q1 us-gaap Other General Expense
OtherGeneralExpense
3125000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2728000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3239000 USD
CY2016Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
195000 USD
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
568000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1664000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4461000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
700000 USD
CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
18938000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
19069000 USD
CY2016Q1 us-gaap Pension Contributions
PensionContributions
759000 USD
CY2017Q1 us-gaap Pension Contributions
PensionContributions
734000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
104000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
2563000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
628000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
66041000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
65027000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1308000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
809000 USD
CY2015 us-gaap Restructuring Charges
RestructuringCharges
800000 USD
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
300000 USD
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
273000 USD
CY2016 us-gaap Restructuring Charges
RestructuringCharges
3500000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
748000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
700000 USD
CY2015Q4 us-gaap Restructuring Reserve
RestructuringReserve
585000 USD
CY2016Q1 us-gaap Restructuring Reserve
RestructuringReserve
663000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
2274000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
2454000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-113378000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-112750000 USD
CY2016Q1 us-gaap Revenues
Revenues
180291000 USD
CY2017Q1 us-gaap Revenues
Revenues
173416000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16790000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16619000 USD
CY2016Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
233154000 USD
CY2017Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
233352000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
708000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
636000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5552000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4853000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
18000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1283000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-36000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
602000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
67690000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
70036000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1014413 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1014413 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
7753000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
7753000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
600000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
600000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
200000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
200000 USD
CY2017Q1 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29509000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30194000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29449000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29872000 shares

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