2023 Q3 Form 10-Q Financial Statement

#000091577923000091 Filed on September 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $232.5M $209.9M
YoY Change 35.26% 29.38%
Cost Of Revenue $161.4M $157.7M
YoY Change 10.44% 19.24%
Gross Profit $71.15M $52.14M
YoY Change 175.83% 74.18%
Gross Profit Margin 30.6% 24.85%
Selling, General & Admin $22.53M $25.55M
YoY Change -5.64% 13.41%
% of Gross Profit 31.66% 48.99%
Research & Development $8.403M $8.334M
YoY Change 12.96% 7.81%
% of Gross Profit 11.81% 15.98%
Depreciation & Amortization $4.669M $4.450M
YoY Change 16.0% 15.58%
% of Gross Profit 6.56% 8.53%
Operating Expenses $30.93M $33.88M
YoY Change -1.22% 11.98%
Operating Profit $40.22M $18.26M
YoY Change -828.68% -5825.08%
Interest Expense -$4.234M -$199.0K
YoY Change 6956.67% -637.84%
% of Operating Profit -10.53% -1.09%
Other Income/Expense, Net -$3.979M -$4.876M
YoY Change 432.66% 883.06%
Pretax Income $28.10M $13.19M
YoY Change -544.14% -1795.12%
Income Tax $8.900M -$8.211M
% Of Pretax Income 31.68% -62.26%
Net Earnings $19.20M $21.40M
YoY Change -460.42% -2015.76%
Net Earnings / Revenue 8.26% 10.2%
Basic Earnings Per Share $0.42
Diluted Earnings Per Share $0.42 $0.46
COMMON SHARES
Basic Shares Outstanding 45.65M shares 45.70M shares
Diluted Shares Outstanding 46.20M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.31M $24.52M
YoY Change 309.79% 15.84%
Cash & Equivalents $45.78M $23.98M
Short-Term Investments $539.0K $534.0K
Other Short-Term Assets $18.42M $10.38M
YoY Change 49.78% -34.39%
Inventory $144.8M $149.4M
Prepaid Expenses
Receivables $125.6M $156.8M
Other Receivables $975.0K $1.541M
Total Short-Term Assets $386.7M $342.7M
YoY Change 12.69% 7.9%
LONG-TERM ASSETS
Property, Plant & Equipment $72.08M $72.15M
YoY Change -0.44% 8.06%
Goodwill $3.332M $3.239M
YoY Change -57.59% -59.14%
Intangibles
YoY Change
Long-Term Investments $10.80M $27.93M
YoY Change -32.58% 65.1%
Other Assets $16.84M $20.73M
YoY Change 26.58% 55.52%
Total Long-Term Assets $121.4M $125.4M
YoY Change -6.79% 1.74%
TOTAL ASSETS
Total Short-Term Assets $386.7M $342.7M
Total Long-Term Assets $121.4M $125.4M
Total Assets $508.0M $468.1M
YoY Change 7.33% 6.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.45M $67.52M
YoY Change -24.28% -11.52%
Accrued Expenses $31.99M $36.01M
YoY Change -5.84% 2.99%
Deferred Revenue $89.32M $91.55M
YoY Change -7.35% 1.28%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.500M $0.00
YoY Change
Total Short-Term Liabilities $204.4M $210.2M
YoY Change -9.0% -1.65%
LONG-TERM LIABILITIES
Long-Term Debt $41.42M $17.75M
YoY Change 71.68%
Other Long-Term Liabilities $5.463M $39.12M
YoY Change -30.86% 492.79%
Total Long-Term Liabilities $82.55M $56.87M
YoY Change 33.19% 59.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $204.4M $210.2M
Total Long-Term Liabilities $82.55M $56.87M
Total Liabilities $287.0M $267.2M
YoY Change 0.13% 7.19%
SHAREHOLDERS EQUITY
Retained Earnings $122.6M $103.4M
YoY Change 34.32% 7.04%
Common Stock $63.68M $63.02M
YoY Change 2.08% 1.99%
Preferred Stock
YoY Change
Treasury Stock (at cost) $10.29M $10.29M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $221.0M $200.9M
YoY Change
Total Liabilities & Shareholders Equity $508.0M $468.1M
YoY Change 7.33% 6.18%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $19.20M $21.40M
YoY Change -460.42% -2015.76%
Depreciation, Depletion And Amortization $4.669M $4.450M
YoY Change 16.0% 15.58%
Cash From Operating Activities $19.25M $24.51M
YoY Change -184.37% -1660.22%
INVESTING ACTIVITIES
Capital Expenditures $4.547M $3.576M
YoY Change -57.33% -134.54%
Acquisitions
YoY Change
Other Investing Activities -$1.159M -$865.0K
YoY Change -509.54% -21.79%
Cash From Investing Activities -$5.706M -$4.441M
YoY Change -44.99% -61.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $21.00K
YoY Change
Debt Paid & Issued, Net $102.0K
YoY Change
Cash From Financing Activities $16.36M -5.930M
YoY Change -32.21% 3105.41%
NET CHANGE
Cash From Operating Activities $19.25M 24.51M
Cash From Investing Activities -$5.706M -4.441M
Cash From Financing Activities $16.36M -5.930M
Net Change In Cash $29.66M 14.14M
YoY Change -430.33% -207.01%
FREE CASH FLOW
Cash From Operating Activities $19.25M $24.51M
Capital Expenditures $4.547M $3.576M
Free Cash Flow $14.70M $20.94M
YoY Change -143.93% 138.41%

Facts In Submission

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171920000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
171920000 usd
CY2023Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
50539000 usd
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
46789000 usd
CY2023Q3 dakt Increase Decrease In Contract With Customer Asset Including Foreign Currency Exchange
IncreaseDecreaseInContractWithCustomerAssetIncludingForeignCurrencyExchange
3750000 usd
CY2023Q3 dakt Contract Assets Percent Change
ContractAssetsPercentChange
0.080
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
89318000 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
91549000 usd
CY2023Q3 dakt Increase Decrease In Contract With Customer Liability Current
IncreaseDecreaseInContractWithCustomerLiabilityCurrent
-2231000 usd
CY2023Q3 dakt Contract Liabilities Current Percent Change
ContractLiabilitiesCurrentPercentChange
-0.024
CY2023Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
14541000 usd
CY2023Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
13096000 usd
CY2023Q3 dakt Increase Decrease In Contract With Customer Liability Noncurrent
IncreaseDecreaseInContractWithCustomerLiabilityNoncurrent
1445000 usd
CY2023Q3 dakt Contract Liabilities Noncurrent Percent Change
ContractLiabilitiesNoncurrentPercentChange
0.110
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
59506000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
386622000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
320898000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
232531000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
171920000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
71147000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
25794000 usd
CY2023Q3 us-gaap Selling Expense
SellingExpense
12929000 usd
CY2022Q3 us-gaap Selling Expense
SellingExpense
14433000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9599000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9441000 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8403000 usd
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7439000 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
30931000 usd
CY2022Q3 us-gaap Operating Expenses
OperatingExpenses
31313000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
40216000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-5519000 usd
CY2023Q3 us-gaap Investment Income Net
InvestmentIncomeNet
-881000 usd
CY2022Q3 us-gaap Investment Income Net
InvestmentIncomeNet
-60000 usd
CY2023Q3 dakt Increase Decrease In Fair Value Of Convertible Note
IncreaseDecreaseInFairValueOfConvertibleNote
7260000 usd
CY2022Q3 dakt Increase Decrease In Fair Value Of Convertible Note
IncreaseDecreaseInFairValueOfConvertibleNote
0 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3979000 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-747000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28096000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6326000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4669000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4025000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
171920000 usd
CY2023Q3 us-gaap Noncurrent Assets
NoncurrentAssets
72080000 usd
CY2023Q2 us-gaap Noncurrent Assets
NoncurrentAssets
72147000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
3239000 usd
CY2023Q3 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
93000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
3332000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
40000000 usd
CY2023Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
17750000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4338000 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 usd
CY2023Q3 dakt Long Term Debt Change In Fair Value Of Convertible Note
LongTermDebtChangeInFairValueOfConvertibleNote
7260000 usd
CY2023Q2 dakt Long Term Debt Change In Fair Value Of Convertible Note
LongTermDebtChangeInFairValueOfConvertibleNote
0 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
1500000 usd
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
41422000 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
17750000 usd
CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023Q2 dakt Termination Penalty On Extinguishment Of Debt
TerminationPenaltyOnExtinguishmentOfDebt
0 usd
CY2023Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
25000000 usd
CY2023Q3 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 usd
CY2023Q3 dakt Increase Decrease In Fair Value Of Convertible Note
IncreaseDecreaseInFairValueOfConvertibleNote
-7260000 usd
CY2023Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
32260000 usd
CY2023Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
47260000 usd
CY2023Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
17750000 usd
CY2023Q3 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
32260000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1125000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1500000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1500000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10875000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
25000000 usd
CY2023Q3 dakt Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
40000000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
32541000 usd
CY2023Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4375000 usd
CY2023Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2744000 usd
CY2023Q3 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
398000 usd
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34570000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.317
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.158
CY2023Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
521000 usd
CY2023Q3 dakt Related Party Transaction Threshold To Be Considered Related Party Transaction
RelatedPartyTransactionThresholdToBeConsideredRelatedPartyTransaction
120000 usd

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