2023 Q3 Form 10-Q Financial Statement

#000170803523000029 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $173.3M $184.1M
YoY Change -25.46% -18.24%
Cost Of Revenue $120.1M $123.1M
YoY Change -27.13% -25.54%
Gross Profit $53.18M $61.00M
YoY Change -21.41% 1.91%
Gross Profit Margin 30.68% 33.13%
Selling, General & Admin $16.95M $21.40M
YoY Change -21.04% -6.07%
% of Gross Profit 31.86% 35.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.77M $20.90M
YoY Change -9.32% 6.33%
% of Gross Profit 33.42% 34.27%
Operating Expenses $16.95M $27.70M
YoY Change -21.04% 21.58%
Operating Profit $31.93M $33.30M
YoY Change -17.15% 21.48%
Interest Expense $11.81M $2.200M
YoY Change 23.78% -75.25%
% of Operating Profit 36.99% 6.61%
Other Income/Expense, Net -$361.0K -$600.0K
YoY Change -80.72% 23.71%
Pretax Income $24.47M $34.90M
YoY Change -19.23% 31.49%
Income Tax $7.891M $8.800M
% Of Pretax Income 32.25% 25.21%
Net Earnings $16.57M $26.10M
YoY Change -22.28% 35.62%
Net Earnings / Revenue 9.56% 14.18%
Basic Earnings Per Share $0.14 $0.22
Diluted Earnings Per Share $0.14 $0.22
COMMON SHARES
Basic Shares Outstanding 116.6M shares 120.2M shares
Diluted Shares Outstanding 117.4M shares 119.9M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.30M $29.20M
YoY Change -68.45% -80.69%
Cash & Equivalents $38.32M $29.20M
Short-Term Investments
Other Short-Term Assets $34.00M $42.20M
YoY Change -26.25% 17.38%
Inventory $48.26M $47.60M
Prepaid Expenses
Receivables $83.79M $78.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $204.3M $197.2M
YoY Change -36.98% -44.7%
LONG-TERM ASSETS
Property, Plant & Equipment $580.8M $616.8M
YoY Change -0.11% 5.68%
Goodwill $403.4M $404.2M
YoY Change 0.55% 0.25%
Intangibles $119.5M $123.5M
YoY Change -9.69% -9.86%
Long-Term Investments $441.8M $438.4M
YoY Change 3.54% 2.83%
Other Assets $36.61M $33.90M
YoY Change 0.9% 9.27%
Total Long-Term Assets $1.609B $1.617B
YoY Change 0.06% 0.35%
TOTAL ASSETS
Total Short-Term Assets $204.3M $197.2M
Total Long-Term Assets $1.609B $1.617B
Total Assets $1.813B $1.814B
YoY Change -6.16% -7.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.31M $34.60M
YoY Change -37.9% -40.28%
Accrued Expenses $50.61M $59.40M
YoY Change -22.22% 0.96%
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 $100.4M $103.0M
YoY Change -25.43% -23.22%
LONG-TERM LIABILITIES
Long-Term Debt $860.7M $862.4M
YoY Change -0.8% -0.8%
Other Long-Term Liabilities $21.18M $43.80M
YoY Change 1.11% 113.97%
Total Long-Term Liabilities $881.8M $906.2M
YoY Change -0.75% 1.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.4M $103.0M
Total Long-Term Liabilities $881.8M $906.2M
Total Liabilities $1.135B $1.146B
YoY Change -4.81% -3.64%
SHAREHOLDERS EQUITY
Retained Earnings -$200.8M -$217.4M
YoY Change -24.87% -24.68%
Common Stock $1.407M $1.407M
YoY Change 0.86% 0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost) $226.7M $224.5M
YoY Change 161.81% 933.34%
Treasury Stock Shares
Shareholders Equity $677.9M $667.7M
YoY Change
Total Liabilities & Shareholders Equity $1.813B $1.814B
YoY Change -6.16% -7.82%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $16.57M $26.10M
YoY Change -22.28% 35.62%
Depreciation, Depletion And Amortization $17.77M $20.90M
YoY Change -9.32% 6.33%
Cash From Operating Activities $32.30M $36.99M
YoY Change -42.78% -20.34%
INVESTING ACTIVITIES
Capital Expenditures $14.40M $20.50M
YoY Change -205.38% -235.91%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$14.40M -$20.50M
YoY Change 2.11% 35.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.60M -46.33M
YoY Change -85.0% 395.03%
NET CHANGE
Cash From Operating Activities 32.30M 36.99M
Cash From Investing Activities -14.40M -20.50M
Cash From Financing Activities -10.60M -46.33M
Net Change In Cash 7.300M -29.85M
YoY Change -125.76% -235.74%
FREE CASH FLOW
Cash From Operating Activities $32.30M $36.99M
Capital Expenditures $14.40M $20.50M
Free Cash Flow $17.90M $16.48M
YoY Change -74.47% -73.2%

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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34909000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
26542000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34385000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
40137000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
9404927 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5002000 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5385000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1181000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1321000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9070000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12679000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2154000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3109000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118651402 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138035764 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
120335414 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137876185 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1269340 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1113796 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1496528 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1299474 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119920742 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139149560 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
121831942 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139175659 shares
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
26122000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
19245000 usd
us-gaap Net Income Loss
NetIncomeLoss
24651000 usd
us-gaap Net Income Loss
NetIncomeLoss
27120000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118651402 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138035764 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
120335414 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137876185 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119920742 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139149560 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
121831942 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139175659 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Income Taxes Paid
IncomeTaxesPaid
9955000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
19843000 usd
us-gaap Interest Paid Net
InterestPaidNet
19391000 usd
us-gaap Interest Paid Net
InterestPaidNet
15818000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
605000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2943000 usd
CY2023Q2 ecvt Treasury Stock Value Common Value Accrued
TreasuryStockValueCommonValueAccrued
0 usd
CY2022Q2 ecvt Treasury Stock Value Common Value Accrued
TreasuryStockValueCommonValueAccrued
1715000 usd
CY2023Q2 ecvt Excise Taxes Payable
ExciseTaxesPayable
630000 usd
CY2022Q2 ecvt Excise Taxes Payable
ExciseTaxesPayable
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6202000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4370000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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