2019 Q4 Form 10-Q Financial Statement

#000143774920001698 Filed on February 04, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q2 2018 Q4
Revenue $174.6M $183.9M $197.2M
YoY Change -11.45% -10.54% -0.67%
Cost Of Revenue $77.05M $88.29M
YoY Change -12.73% -2.64%
Gross Profit $97.52M $100.8M $108.9M
YoY Change -10.42% -9.32% 0.99%
Gross Profit Margin 55.86% 54.8% 55.22%
Selling, General & Admin $88.50M $92.73M
YoY Change -4.57% 2.75%
% of Gross Profit 90.74% 85.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.454M $4.925M
YoY Change -9.56% -0.59%
% of Gross Profit 4.57% 4.52%
Operating Expenses $88.50M $92.73M
YoY Change -4.57% 2.75%
Operating Profit $9.204M -$4.649M $16.13M
YoY Change -42.93% -129.23% -8.04%
Interest Expense $63.00K $152.0K
YoY Change -58.55%
% of Operating Profit 0.68% 0.94%
Other Income/Expense, Net $63.00K
YoY Change
Pretax Income $9.267M $16.28M
YoY Change -43.08% -7.96%
Income Tax $2.200M $4.090M
% Of Pretax Income 23.74% 25.12%
Net Earnings $7.086M -$3.310M $12.19M
YoY Change -41.87% -128.84% -17.98%
Net Earnings / Revenue 4.06% -1.8% 6.18%
Basic Earnings Per Share $0.27 -$0.12 $0.46
Diluted Earnings Per Share $0.27 -$0.12 $0.45
COMMON SHARES
Basic Shares Outstanding 26.58M 26.57M
Diluted Shares Outstanding 26.61M 26.71M 26.92M

Balance Sheet

Concept 2019 Q4 2019 Q2 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $28.31M $20.82M $38.76M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $139.0M $162.4M $159.2M
Prepaid Expenses
Receivables $13.14M $14.25M $9.234M
Other Receivables
Total Short-Term Assets $199.4M $216.3M $223.1M
YoY Change -10.6% 0.87% -5.65%
LONG-TERM ASSETS
Property, Plant & Equipment $245.3M $245.2M $263.0M
YoY Change -6.73% -8.46% -0.16%
Goodwill $25.39M $25.39M
YoY Change 0.0%
Intangibles $19.74M $19.74M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $422.5M $294.1M $311.4M
YoY Change 35.68% -6.95% -2.25%
TOTAL ASSETS
Total Short-Term Assets $199.4M $216.3M $223.1M
Total Long-Term Assets $422.5M $294.1M $311.4M
Total Assets $621.9M $510.4M $534.5M
YoY Change 16.36% -3.79% -3.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.41M
YoY Change -3.51%
Accrued Expenses $47.81M
YoY Change 60.29%
Deferred Revenue $47.51M $56.71M $54.24M
YoY Change -12.42% -7.4%
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $137.4M $122.8M $140.2M
YoY Change -1.99% 1.29% 10.61%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $3.155M $22.01M
YoY Change 9.8%
Total Long-Term Liabilities $3.155M $22.01M
YoY Change 9.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $137.4M $122.8M $140.2M
Total Long-Term Liabilities $3.155M $22.01M
Total Liabilities $259.1M $146.4M $164.8M
YoY Change 57.2% -0.1% 8.21%
SHAREHOLDERS EQUITY
Retained Earnings $656.2M $647.7M $653.2M
YoY Change 0.46% -3.18% -1.81%
Common Stock $378.6M $378.4M $379.0M
YoY Change -0.12% 0.26% 0.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $666.6M $656.6M $656.6M
YoY Change 1.53% 0.01% 3.47%
Treasury Stock Shares $23.01M $22.46M
Shareholders Equity $362.8M $363.9M $369.6M
YoY Change
Total Liabilities & Shareholders Equity $621.9M $510.4M $534.5M
YoY Change 16.36% -3.79% -3.7%

Cashflow Statement

Concept 2019 Q4 2019 Q2 2018 Q4
OPERATING ACTIVITIES
Net Income $7.086M -$3.310M $12.19M
YoY Change -41.87% -128.84% -17.98%
Depreciation, Depletion And Amortization $4.454M $4.925M
YoY Change -9.56% -0.59%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"> <tr style="vertical-align: top;"> <td style="width: 27pt;"> <div style=" font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)</div></div> </td> <td> <div style=" font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><div style="display: inline; font-weight: bold;">Organization and Nature of Business</div><div style="display: inline; font-weight: bold;"> </div></div> </td> </tr> </table> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Founded in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1932</div> and incorporated in Delaware in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1989,</div> Ethan Allen Interiors Inc., through its wholly-owned subsidiary, Ethan Allen Global, Inc., and Ethan Allen Global, Inc.&#x2019;s subsidiaries (collectively, &#x201c;we,&#x201d; &#x201c;us,&#x201d; &#x201c;our,&#x201d; &#x201c;Ethan Allen&#x201d; or the &#x201c;Company&#x201d;), is a leading interior design company, manufacturer and retailer in the home furnishings marketplace. Today we are a global luxury international home fashion brand that is vertically integrated from design through delivery, which affords our customers a value proposition of style, quality and price. We provide complimentary interior design service to our customers and sell a full range of furniture products and decorative accents through a retail network of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300</div> design centers in the United States and abroad as well as online at&nbsp;ethanallen.com. The design centers represent a mix of independent licensees and Company-owned and operated locations. Our Company operates retail design centers located in the United States and Canada. The independently operated design centers are located in the United States, Asia, the Middle East and Europe. We also own and operate <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> manufacturing facilities including <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> manufacturing plants in the United States, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> manufacturing plants in Mexico and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> manufacturing plant in Honduras.</div></div>
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