2021 Q4 Form 8-K Financial Statement

#000162828022020196 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $31.76M $2.879B $23.28M
YoY Change 36.43% 3.64% 62.12%
Cost Of Revenue $18.70M $2.332B $14.30M
YoY Change 30.77% 2.1% 54.59%
Gross Profit $13.06M $547.0M $8.980M
YoY Change 45.43% 10.73% 75.73%
Gross Profit Margin 41.12% 19.0% 38.57%
Selling, General & Admin $4.510M $17.20M $3.790M
YoY Change 19.0% 22.86% 13.81%
% of Gross Profit 34.53% 3.14% 42.2%
Research & Development $2.540M $48.00M $2.380M
YoY Change 6.72% 17.07% 19.6%
% of Gross Profit 19.45% 8.78% 26.5%
Depreciation & Amortization $58.00M
YoY Change 9.43%
% of Gross Profit 10.6%
Operating Expenses $7.040M $48.00M $6.170M
YoY Change 14.1% 17.07% 15.98%
Operating Profit $6.020M $236.0M $2.810M
YoY Change 114.23% 30.39% -1438.1%
Interest Expense -$300.0K $35.00M -$140.0K
YoY Change 114.29% -45.31% -566.67%
% of Operating Profit -4.98% 14.83% -4.98%
Other Income/Expense, Net -$1.000M
YoY Change -80.0%
Pretax Income $5.710M $200.0M $2.640M
YoY Change 116.29% 78.57% -1566.67%
Income Tax $890.0K $46.00M
% Of Pretax Income 15.59% 23.0%
Net Earnings $4.820M $154.0M $2.640M
YoY Change 82.58% 81.18% -980.0%
Net Earnings / Revenue 15.18% 5.35% 11.34%
Basic Earnings Per Share $1.06
Diluted Earnings Per Share $0.09 $1.06 $0.06
COMMON SHARES
Basic Shares Outstanding 145.0M shares 210.0M shares
Diluted Shares Outstanding 210.0M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.70M $78.80M $36.30M
YoY Change 116.8% 117.08% 163.04%
Cash & Equivalents $240.0M $78.70M $61.00M
Short-Term Investments $100.0K
Other Short-Term Assets $22.00M $1.800M $33.00M
YoY Change -33.33% 12.5% 8150.0%
Inventory $205.0M $48.90M $247.0M
Prepaid Expenses $23.00M $33.00M
Receivables $156.0M $33.70M $102.0M
Other Receivables $1.900M $500.0K $1.600M
Total Short-Term Assets $1.389B $163.7M $1.263B
YoY Change 9.98% 99.39% 2531.25%
LONG-TERM ASSETS
Property, Plant & Equipment $31.20M $31.20M $24.50M
YoY Change 27.35% 27.35% 45.83%
Goodwill $1.071B $1.057B
YoY Change 1.32% 0.0%
Intangibles
YoY Change
Long-Term Investments $3.000M $3.000M
YoY Change
Other Assets $137.0M $5.700M $134.0M
YoY Change 2.24%
Total Long-Term Assets $1.680B $40.10M $1.693B
YoY Change -0.77% 61.69% 9917.75%
TOTAL ASSETS
Total Short-Term Assets $1.389B $163.7M $1.263B
Total Long-Term Assets $1.680B $40.10M $1.693B
Total Assets $3.069B $203.8M $2.956B
YoY Change 3.82% 90.65% 4454.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $479.0M $19.90M $478.0M
YoY Change 0.21% 87.74% 3493.98%
Accrued Expenses $2.300M $15.70M $1.900M
YoY Change 21.05% 34.19% 58.33%
Deferred Revenue $174.0M $177.0M
YoY Change -1.69%
Short-Term Debt $15.00M $0.00 $27.00M
YoY Change -44.44% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $989.0M $37.80M $975.0M
YoY Change 1.44% 48.82% 5918.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $74.00M $9.900M $92.00M
YoY Change -19.57% 4.21% 1160.27%
Total Long-Term Liabilities $487.0M $9.900M $554.0M
YoY Change -12.09% 4.21% 7489.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $989.0M $37.80M $975.0M
Total Long-Term Liabilities $487.0M $9.900M $554.0M
Total Liabilities $1.476B $47.80M $1.529B
YoY Change -3.47% 36.96% 6406.38%
SHAREHOLDERS EQUITY
Retained Earnings -$2.983B -$3.137B
YoY Change -4.91%
Common Stock $1.000M $1.000M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.593B $156.1M $1.427B
YoY Change
Total Liabilities & Shareholders Equity $3.069B $203.8M $2.956B
YoY Change 3.82% 90.65% 4454.7%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $4.820M $154.0M $2.640M
YoY Change 82.58% 81.18% -980.0%
Depreciation, Depletion And Amortization $58.00M
YoY Change 9.43%
Cash From Operating Activities $178.0M
YoY Change 42.4%
INVESTING ACTIVITIES
Capital Expenditures $60.00M
YoY Change 7.14%
Acquisitions $14.00M
YoY Change
Other Investing Activities -$3.020M
YoY Change -15200.0%
Cash From Investing Activities $39.00M
YoY Change -155.71%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$38.00M
YoY Change -52.5%
NET CHANGE
Cash From Operating Activities $178.0M
Cash From Investing Activities $39.00M
Cash From Financing Activities -$38.00M
Net Change In Cash $179.0M
YoY Change -845.83%
FREE CASH FLOW
Cash From Operating Activities $178.0M
Capital Expenditures $60.00M
Free Cash Flow $118.0M
YoY Change 71.01%

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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2021Q4 us-gaap Long Term Debt
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CY2021Q4 us-gaap Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year
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CY2020 drs Defined Benefit Plan Expected Current Year Employer Contributions Deferred Cares Act
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CY2020Q4 us-gaap Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year
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CY2021 us-gaap Defined Contribution Plan Cost Recognized
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CY2020 us-gaap Restructuring Charges
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CY2019 us-gaap Restructuring Charges
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CY2021 us-gaap Income Loss From Equity Method Investments
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CY2020 us-gaap Income Loss From Equity Method Investments
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CY2019 us-gaap Income Loss From Equity Method Investments
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CY2021 us-gaap Restructuring Charges
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CY2020 us-gaap Restructuring Charges
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CY2019 us-gaap Restructuring Charges
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CY2021 us-gaap Restructuring Charges
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CY2019Q4 us-gaap Restructuring Reserve
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CY2020 us-gaap Restructuring Charges
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CY2020 drs Restructuring Reserve Reversal And Utilization
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CY2020Q4 us-gaap Restructuring Reserve
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CY2021 us-gaap Restructuring Charges
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CY2021 drs Restructuring Reserve Reversal And Utilization
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CY2021Q4 us-gaap Restructuring Reserve
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CY2019Q4 us-gaap Standard Product Warranty Accrual
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CY2020 us-gaap Standard Product Warranty Accrual Warranties Issued
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CY2020 drs Standard Product Warrant Accrual Decrease For Payments And Increase Decrease For Preexisting Warranties
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CY2020Q4 us-gaap Standard Product Warranty Accrual
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CY2021 us-gaap Standard Product Warranty Accrual Warranties Issued
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CY2021 drs Standard Product Warrant Accrual Decrease For Payments And Increase Decrease For Preexisting Warranties
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CY2021Q4 us-gaap Standard Product Warranty Accrual
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CY2020Q4 us-gaap Assets
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CY2021 drs Segment Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Depreciation
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CY2020 us-gaap Depreciation
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CY2021Q4 us-gaap Assets
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CY2020 drs Segment Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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CY2021 us-gaap Amortization Of Intangible Assets
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CY2021 us-gaap Interest Expense
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CY2021 drs Sale Of Stock Anticipated Stock Issued Issuance Costs
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CY2021 us-gaap Income Tax Expense Benefit
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CY2019 drs Sale Of Stock Anticipated Stock Issued Issuance Costs
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CY2021 drs Acquisition And Divestiture Related Costs
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CY2020 drs Acquisition And Divestiture Related Costs
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CY2019 drs Acquisition And Divestiture Related Costs
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CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2021 drs Covid19 Response Costs
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CY2021 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2020 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2021 drs Other Nonoperating Income Expense Nonrecurring Events
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CY2021 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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CY2019 us-gaap Net Income Loss
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