2021 Q1 Form 10-Q Financial Statement

#000000695521000012 Filed on March 26, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $120.7M $133.4M
YoY Change -9.55% -16.52%
Cost Of Revenue $65.88M $71.29M
YoY Change -7.6% -19.42%
Gross Profit $54.78M $62.09M
YoY Change -11.78% -12.93%
Gross Profit Margin 45.4% 46.55%
Selling, General & Admin $45.88M $50.25M
YoY Change -8.68% -5.91%
% of Gross Profit 83.76% 80.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.500M $5.300M
YoY Change 3.77% -52.68%
% of Gross Profit 10.04% 8.54%
Operating Expenses $45.88M $50.25M
YoY Change -8.68% -8.98%
Operating Profit $5.707M $8.567M
YoY Change -33.38% -31.13%
Interest Expense -$1.300M -$4.600M
YoY Change -71.74% -36.11%
% of Operating Profit -22.78% -53.69%
Other Income/Expense, Net -$784.0K $787.0K
YoY Change -199.62% -252.82%
Pretax Income $3.585M $4.724M
YoY Change -24.11% -0.9%
Income Tax $1.000K $806.0K
% Of Pretax Income 0.03% 17.06%
Net Earnings $3.182M $2.162M
YoY Change 47.18% -21.47%
Net Earnings / Revenue 2.64% 1.62%
Basic Earnings Per Share $0.05 $0.04
Diluted Earnings Per Share $0.05 $0.04
COMMON SHARES
Basic Shares Outstanding 59.94M shares 60.13M shares
Diluted Shares Outstanding 60.27M shares 60.51M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $115.3M $163.4M
YoY Change -29.44% -4.11%
Cash & Equivalents $115.3M $163.4M
Short-Term Investments
Other Short-Term Assets $35.70M $38.20M
YoY Change -6.54% -65.59%
Inventory $71.77M $78.05M
Prepaid Expenses
Receivables $94.98M $113.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $325.4M $398.2M
YoY Change -18.26% -39.04%
LONG-TERM ASSETS
Property, Plant & Equipment $61.26M $63.07M
YoY Change -2.87% -24.14%
Goodwill $284.7M $271.8M
YoY Change 4.75% -43.39%
Intangibles $58.98M $66.50M
YoY Change -11.31% -55.68%
Long-Term Investments
YoY Change
Other Assets $78.59M $79.79M
YoY Change -1.5% 118.6%
Total Long-Term Assets $483.6M $481.2M
YoY Change 0.49% -35.83%
TOTAL ASSETS
Total Short-Term Assets $325.4M $398.2M
Total Long-Term Assets $483.6M $481.2M
Total Assets $809.0M $879.3M
YoY Change -8.0% -37.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.74M $62.29M
YoY Change -20.16% -49.14%
Accrued Expenses $21.80M $32.50M
YoY Change -32.92% -13.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $115.3M $129.6M
YoY Change -11.04% -53.42%
LONG-TERM LIABILITIES
Long-Term Debt $210.0M $286.4M
YoY Change -26.67% -37.14%
Other Long-Term Liabilities $81.46M $87.53M
YoY Change -6.93% 73.72%
Total Long-Term Liabilities $291.5M $373.9M
YoY Change -22.05% -26.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $115.3M $129.6M
Total Long-Term Liabilities $291.5M $373.9M
Total Liabilities $427.6M $525.0M
YoY Change -18.55% -35.78%
SHAREHOLDERS EQUITY
Retained Earnings $925.5M $923.6M
YoY Change 0.2% -19.85%
Common Stock $213.6M $206.2M
YoY Change 3.58% 8.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $667.7M $658.0M
YoY Change 1.48% 6.52%
Treasury Stock Shares 22.80M shares 22.30M shares
Shareholders Equity $381.4M $354.4M
YoY Change
Total Liabilities & Shareholders Equity $809.0M $879.3M
YoY Change -8.0% -37.33%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $3.182M $2.162M
YoY Change 47.18% -21.47%
Depreciation, Depletion And Amortization $5.500M $5.300M
YoY Change 3.77% -52.68%
Cash From Operating Activities $4.500M -$5.800M
YoY Change -177.59% -73.87%
INVESTING ACTIVITIES
Capital Expenditures -$3.700M -$3.800M
YoY Change -2.63% -65.77%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$33.00M
YoY Change -101.82% -183.97%
Cash From Investing Activities -$3.100M -$36.70M
YoY Change -91.55% -230.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $45.00M
YoY Change
Cash From Financing Activities -46.60M -1.200M
YoY Change 3783.33% -97.06%
NET CHANGE
Cash From Operating Activities 4.500M -5.800M
Cash From Investing Activities -3.100M -36.70M
Cash From Financing Activities -46.60M -1.200M
Net Change In Cash -45.20M -43.70M
YoY Change 3.43% 25.57%
FREE CASH FLOW
Cash From Operating Activities $4.500M -$5.800M
Capital Expenditures -$3.700M -$3.800M
Free Cash Flow $8.200M -$2.000M
YoY Change -510.0% -81.98%

Facts In Submission

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DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
-0.03
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1046000 shares
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
-0.01
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
-0.10
CY2021Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-0.01
CY2020Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-0.03
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
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-0.01
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
-0.10
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
932000 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1024000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1211000 shares
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
367946000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
3182000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
9157000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
81000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
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2647000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
1706000 USD
CY2021Q1 epac Stock Value Issuedto Acquired Forand Distributed From Rabbi Trust
StockValueIssuedtoAcquiredForandDistributedFromRabbiTrust
86000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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381393000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
353253000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
2162000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3052000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
126000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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0 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3093000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
122000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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1425000 USD
CY2020Q1 epac Stock Value Issuedto Acquired Forand Distributed From Rabbi Trust
StockValueIssuedtoAcquiredForandDistributedFromRabbiTrust
86000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
354365000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
359226000 USD
us-gaap Net Income Loss
NetIncomeLoss
7780000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
10786000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
182000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5227000 USD
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
1981000 USD
epac Stock Value Issuedto Acquired Forand Distributed From Rabbi Trust
StockValueIssuedtoAcquiredForandDistributedFromRabbiTrust
173000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
381393000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
301179000 USD
us-gaap Net Income Loss
NetIncomeLoss
4283000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
57875000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
257000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1756000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.171
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.212
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.146
epac Earningsfrom Foreign Jurisdictions Percent
EarningsfromForeignJurisdictionsPercent
0.70
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.171
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
17805000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9630000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2631000 USD
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
4063000 USD
epac Stock Value Issuedto Acquired Forand Distributed From Rabbi Trust
StockValueIssuedtoAcquiredForandDistributedFromRabbiTrust
172000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
354365000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3585000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4724000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10664000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
12046000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
806000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2258000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
120654000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
133386000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
240084000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
280060000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5707000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
8567000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
14777000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
22937000 USD
CY2021Q1 us-gaap Assets
Assets
809001000 USD
CY2020Q3 us-gaap Assets
Assets
824294000 USD
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
11700000 USD
CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
11900000 USD
CY2021Q1 epac Contractual Obligation Future Minimum Payments Due Through Endof Lease
ContractualObligationFutureMinimumPaymentsDueThroughEndofLease
6100000 USD
CY2021Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
397000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3766000 USD
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3894000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
7471000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
8147000 USD
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
310000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
810000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
765000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
865000 USD
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
564000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
1747000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
1033000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
7486000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
8141000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1360000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4532000 USD

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