2023 Q2 Form 10-Q Financial Statement

#000143774923013129 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $67.77M $56.93M $72.38M
YoY Change -21.34% 22.28%
Cost Of Revenue $51.12M $45.88M $52.26M
YoY Change -12.21% 25.16%
Gross Profit $16.65M $11.05M $20.12M
YoY Change -45.07% 15.4%
Gross Profit Margin 24.56% 19.41% 27.8%
Selling, General & Admin $9.769M $10.28M $10.53M
YoY Change -2.31% 6.58%
% of Gross Profit 58.68% 93.04% 52.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.402M $1.396M $1.473M
YoY Change -5.23% 29.89%
% of Gross Profit 8.42% 12.63% 7.32%
Operating Expenses $10.39M $10.28M $10.53M
YoY Change -2.31% 6.58%
Operating Profit $6.258M $149.0K $9.023M
YoY Change -98.35% 26.57%
Interest Expense -$1.580M $1.375M $560.0K
YoY Change 145.54% 139.32%
% of Operating Profit -25.25% 922.82% 6.21%
Other Income/Expense, Net $7.000K $18.00K $43.00K
YoY Change -58.14% 22.86%
Pretax Income $4.685M -$1.208M $8.506M
YoY Change -114.2% 22.74%
Income Tax $1.043M -$256.0K $1.852M
% Of Pretax Income 22.26% 21.77%
Net Earnings $3.642M -$952.0K $6.654M
YoY Change -114.31% 22.27%
Net Earnings / Revenue 5.37% -1.67% 9.19%
Basic Earnings Per Share $0.27 -$0.07 $0.49
Diluted Earnings Per Share $0.26 -$0.07 $0.49
COMMON SHARES
Basic Shares Outstanding 13.73M 13.61M 13.51M
Diluted Shares Outstanding 13.84M 13.65M 13.65M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $577.0K $6.064M $6.392M
YoY Change -5.13% 8.34%
Cash & Equivalents $577.0K $6.064M $6.392M
Short-Term Investments
Other Short-Term Assets $3.925M $4.879M $12.72M
YoY Change -61.63% 217.9%
Inventory $111.7M $122.5M $114.6M
Prepaid Expenses $3.925M $4.879M $12.72M
Receivables $54.98M $50.47M $67.30M
Other Receivables $1.518M $175.0K $0.00
Total Short-Term Assets $172.7M $184.0M $201.0M
YoY Change -8.44% 29.0%
LONG-TERM ASSETS
Property, Plant & Equipment $32.93M $24.68M $28.81M
YoY Change -14.34% 51.95%
Goodwill $42.33M $42.33M $38.84M
YoY Change 8.98% 18.79%
Intangibles $29.88M $30.50M $36.21M
YoY Change -15.76% 62.98%
Long-Term Investments
YoY Change
Other Assets $3.278M $376.0K $294.0K
YoY Change 27.89% 151.28%
Total Long-Term Assets $108.4M $109.5M $106.0M
YoY Change 3.3% 39.28%
TOTAL ASSETS
Total Short-Term Assets $172.7M $184.0M $201.0M
Total Long-Term Assets $108.4M $109.5M $106.0M
Total Assets $281.1M $293.6M $307.1M
YoY Change -4.39% 32.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.68M $17.23M $27.38M
YoY Change -37.06% 20.61%
Accrued Expenses $10.90M $10.50M $19.88M
YoY Change -47.17% 62.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.143M $7.143M $7.143M
YoY Change 0.0%
Total Short-Term Liabilities $32.72M $35.87M $56.09M
YoY Change -36.05% 48.9%
LONG-TERM LIABILITIES
Long-Term Debt $76.81M $88.08M $92.85M
YoY Change -5.14% 97.94%
Other Long-Term Liabilities $8.629M $407.0K $448.0K
YoY Change -9.15% 0.0%
Total Long-Term Liabilities $85.44M $88.49M $93.30M
YoY Change -5.15% 97.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.72M $35.87M $56.09M
Total Long-Term Liabilities $85.44M $88.49M $93.30M
Total Liabilities $122.7M $137.3M $155.4M
YoY Change -11.69% 72.6%
SHAREHOLDERS EQUITY
Retained Earnings $144.7M $142.6M $138.0M
YoY Change 3.3% 7.86%
Common Stock $13.74M $13.73M $13.59M
YoY Change 1.07% -2.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $158.4M $156.3M $151.6M
YoY Change
Total Liabilities & Shareholders Equity $281.1M $293.6M $307.1M
YoY Change -4.39% 32.38%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $3.642M -$952.0K $6.654M
YoY Change -114.31% 22.27%
Depreciation, Depletion And Amortization $1.402M $1.396M $1.473M
YoY Change -5.23% 29.89%
Cash From Operating Activities $8.380M $4.516M -$2.872M
YoY Change -257.24% -71.96%
INVESTING ACTIVITIES
Capital Expenditures $364.0K $704.0K $730.0K
YoY Change -3.56% -49.69%
Acquisitions $0.00 $34.62M
YoY Change -100.0%
Other Investing Activities $0.00 -$34.62M
YoY Change -100.0% -86640.0%
Cash From Investing Activities -$364.0K -$704.0K -$35.35M
YoY Change -98.01% 2408.59%
FINANCING ACTIVITIES
Cash Dividend Paid $2.059M $2.038M
YoY Change 1.03% 4.51%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $34.89M $30.38M
YoY Change 14.85% -5.78%
Cash From Financing Activities -13.50M -$1.715M $40.24M
YoY Change -104.26% 186.89%
NET CHANGE
Cash From Operating Activities 8.380M $4.516M -$2.872M
Cash From Investing Activities -364.0K -$704.0K -$35.35M
Cash From Financing Activities -13.50M -$1.715M $40.24M
Net Change In Cash -5.487M $2.097M $2.018M
YoY Change 3.91% -15.0%
FREE CASH FLOW
Cash From Operating Activities $8.380M $4.516M -$2.872M
Capital Expenditures $364.0K $704.0K $730.0K
Free Cash Flow $8.016M $3.812M -$3.602M
YoY Change -205.83% -69.2%

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