$FLXS
FLEXSTEEL INDUSTRIES INC

2018 Q3 Form 10-Q Financial Statement

#000089710118001048 Filed on October 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $113.5M $119.8M
YoY Change -5.3% 6.9%
Cost Of Revenue $91.70M $93.69M
YoY Change -2.13% 9.71%
Gross Profit $21.79M $26.14M
YoY Change -16.64% -1.73%
Gross Profit Margin 19.2% 21.81%
Selling, General & Admin $20.20M $18.24M
YoY Change 10.75% -3.0%
% of Gross Profit 92.68% 69.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.903M $1.847M
YoY Change 3.03% -9.01%
% of Gross Profit 8.73% 7.07%
Operating Expenses $20.20M $18.24M
YoY Change 10.75% -3.0%
Operating Profit $1.595M $9.739M
YoY Change -83.62% 24.86%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $181.0K $100.0K
YoY Change 81.0%
Pretax Income $1.776M $9.880M
YoY Change -82.02% 26.67%
Income Tax $480.0K $3.700M
% Of Pretax Income 27.03% 37.45%
Net Earnings $1.296M $6.180M
YoY Change -79.03% 28.75%
Net Earnings / Revenue 1.14% 5.16%
Basic Earnings Per Share $0.16 $0.79
Diluted Earnings Per Share $0.16 $0.78
COMMON SHARES
Basic Shares Outstanding 7.875M 7.830M
Diluted Shares Outstanding 7.921M 7.937M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.30M $47.40M
YoY Change -12.87% 11.01%
Cash & Equivalents $23.35M $33.45M
Short-Term Investments $18.00M $14.00M
Other Short-Term Assets $8.478M $9.300M
YoY Change -8.84% 29.17%
Inventory $90.28M $104.2M
Prepaid Expenses
Receivables $43.58M $45.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $183.6M $206.8M
YoY Change -11.2% 15.27%
LONG-TERM ASSETS
Property, Plant & Equipment $99.18M $69.90M
YoY Change 41.89% 4.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.506M $3.300M
YoY Change -24.06% -43.1%
Total Long-Term Assets $103.5M $73.20M
YoY Change 41.41% 1.1%
TOTAL ASSETS
Total Short-Term Assets $183.6M $206.8M
Total Long-Term Assets $103.5M $73.20M
Total Assets $287.1M $280.0M
YoY Change 2.55% 11.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.50M $18.70M
YoY Change 4.28% 40.6%
Accrued Expenses $24.30M $23.90M
YoY Change 1.67% 16.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.79M $42.60M
YoY Change 2.79% 26.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.701M $2.300M
YoY Change -26.04% -42.5%
Total Long-Term Liabilities $1.701M $2.300M
YoY Change -26.04% -42.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.79M $42.60M
Total Long-Term Liabilities $1.701M $2.300M
Total Liabilities $45.49M $44.90M
YoY Change 1.31% 19.1%
SHAREHOLDERS EQUITY
Retained Earnings $209.1M
YoY Change
Common Stock $7.884M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $241.7M $235.1M
YoY Change
Total Liabilities & Shareholders Equity $287.1M $280.0M
YoY Change 2.55% 11.2%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $1.296M $6.180M
YoY Change -79.03% 28.75%
Depreciation, Depletion And Amortization $1.903M $1.847M
YoY Change 3.03% -9.01%
Cash From Operating Activities $9.898M $1.532M
YoY Change 546.08% -86.36%
INVESTING ACTIVITIES
Capital Expenditures $10.43M $5.075M
YoY Change 105.6% -213.03%
Acquisitions
YoY Change
Other Investing Activities -$1.970M $10.15M
YoY Change -119.41% 25275.0%
Cash From Investing Activities -$12.40M $5.075M
YoY Change -344.37% -214.04%
FINANCING ACTIVITIES
Cash Dividend Paid $1.729M $1.565M
YoY Change 10.48%
Common Stock Issuance & Retirement, Net $43.00K $3.000K
YoY Change 1333.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.897M -2.035M
YoY Change -6.78% 126.11%
NET CHANGE
Cash From Operating Activities 9.898M 1.532M
Cash From Investing Activities -12.40M 5.075M
Cash From Financing Activities -1.897M -2.035M
Net Change In Cash -4.401M 4.572M
YoY Change -196.26% -22.24%
FREE CASH FLOW
Cash From Operating Activities $9.898M $1.532M
Capital Expenditures $10.43M $5.075M
Free Cash Flow -$536.0K -$3.543M
YoY Change -84.87% -122.54%

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CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
26.77
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
45.46
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
45.21
CY2018Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
32.80
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
241698000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
241658000
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21000
CY2018Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3000
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
107000
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
46000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7937000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7921000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7830000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7875000
CY2017Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
2000
CY2018Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
6000

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