2023 Q2 Form 10-Q Financial Statement

#000170803523000013 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $184.1M $160.9M
YoY Change -18.24% -10.48%
Cost Of Revenue $123.1M $124.4M
YoY Change -25.54% -5.76%
Gross Profit $61.00M $36.49M
YoY Change 1.91% -23.55%
Gross Profit Margin 33.13% 22.68%
Selling, General & Admin $21.40M $21.12M
YoY Change -6.07% -10.27%
% of Gross Profit 35.08% 57.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.90M $16.69M
YoY Change 6.33% -14.6%
% of Gross Profit 34.27% 45.74%
Operating Expenses $27.70M $21.12M
YoY Change 21.58% -10.27%
Operating Profit $33.30M $8.658M
YoY Change 21.48% -47.32%
Interest Expense $2.200M $9.832M
YoY Change -75.25% 16.36%
% of Operating Profit 6.61% 113.56%
Other Income/Expense, Net -$600.0K $427.0K
YoY Change 23.71% -405.0%
Pretax Income $34.90M -$524.0K
YoY Change 31.49% -103.85%
Income Tax $8.800M $947.0K
% Of Pretax Income 25.21%
Net Earnings $26.10M -$1.471M
YoY Change 35.62% -118.68%
Net Earnings / Revenue 14.18% -0.91%
Basic Earnings Per Share $0.22 -$0.01
Diluted Earnings Per Share $0.22 -$0.01
COMMON SHARES
Basic Shares Outstanding 120.2M shares 123.2M shares
Diluted Shares Outstanding 119.9M shares 122.2M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.20M $61.60M
YoY Change -80.69% -52.52%
Cash & Equivalents $29.20M $61.62M
Short-Term Investments
Other Short-Term Assets $42.20M $47.30M
YoY Change 17.38% 77.18%
Inventory $47.60M $45.83M
Prepaid Expenses
Receivables $78.20M $66.61M
Other Receivables $0.00 $0.00
Total Short-Term Assets $197.2M $221.4M
YoY Change -44.7% -26.78%
LONG-TERM ASSETS
Property, Plant & Equipment $616.8M $583.7M
YoY Change 5.68% -0.85%
Goodwill $404.2M $403.8M
YoY Change 0.25% -0.38%
Intangibles $123.5M $126.7M
YoY Change -9.86% -10.53%
Long-Term Investments $438.4M $437.2M
YoY Change 2.83% 0.25%
Other Assets $33.90M $29.75M
YoY Change 9.27% -1.63%
Total Long-Term Assets $1.617B $1.609B
YoY Change 0.35% -1.49%
TOTAL ASSETS
Total Short-Term Assets $197.2M $221.4M
Total Long-Term Assets $1.617B $1.609B
Total Assets $1.814B $1.830B
YoY Change -7.82% -5.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.60M $34.13M
YoY Change -40.28% -35.02%
Accrued Expenses $59.40M $57.77M
YoY Change 0.96% 33.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.000M $9.000M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $103.0M $109.0M
YoY Change -23.22% -3.63%
LONG-TERM LIABILITIES
Long-Term Debt $862.4M $864.1M
YoY Change -0.8% -0.8%
Other Long-Term Liabilities $43.80M $26.77M
YoY Change 113.97% 18.94%
Total Long-Term Liabilities $906.2M $890.9M
YoY Change 1.84% -0.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $103.0M $109.0M
Total Long-Term Liabilities $906.2M $890.9M
Total Liabilities $1.146B $1.156B
YoY Change -3.64% -1.17%
SHAREHOLDERS EQUITY
Retained Earnings -$217.4M -$243.5M
YoY Change -24.68% -20.9%
Common Stock $1.407M $1.406M
YoY Change 0.79% 0.72%
Preferred Stock
YoY Change
Treasury Stock (at cost) $224.5M $180.3M
YoY Change 933.34% 1299.83%
Treasury Stock Shares
Shareholders Equity $667.7M $674.2M
YoY Change
Total Liabilities & Shareholders Equity $1.814B $1.830B
YoY Change -7.82% -5.44%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $26.10M -$1.471M
YoY Change 35.62% -118.68%
Depreciation, Depletion And Amortization $20.90M $16.69M
YoY Change 6.33% -14.6%
Cash From Operating Activities $36.99M $4.114M
YoY Change -20.34% -35.95%
INVESTING ACTIVITIES
Capital Expenditures $20.50M $18.70M
YoY Change -235.91% 73.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$20.50M -$18.70M
YoY Change 35.91% 29.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.33M -$33.57M
YoY Change 395.03% 1213.89%
NET CHANGE
Cash From Operating Activities 36.99M $4.114M
Cash From Investing Activities -20.50M -$18.70M
Cash From Financing Activities -46.33M -$33.57M
Net Change In Cash -29.85M -$49.30M
YoY Change -235.74% 342.52%
FREE CASH FLOW
Cash From Operating Activities $36.99M $4.114M
Capital Expenditures $20.50M $18.70M
Free Cash Flow $16.48M -$14.58M
YoY Change -73.2% 237.05%

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CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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884250000 usd
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DebtInstrumentUnamortizedDiscount
7152000 usd
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DebtInstrumentUnamortizedDiscount
7472000 usd
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3970000 usd
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CY2023Q1 us-gaap Interest Expense
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CY2022Q1 us-gaap Interest Expense
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-1.807
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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13595000 usd
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CY2022Q1 us-gaap Allocated Share Based Compensation Expense
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1788000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
284956 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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1621000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2955000 usd
CY2023Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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122178867 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
136000 usd
CY2022Q1 us-gaap Income Taxes Paid
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CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
650000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4674000 usd

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