2024 Q2 Form 10-Q Financial Statement

#000035282524000108 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $140.8M $124.3M
YoY Change -4.89% 7.65%
Cost Of Revenue $110.3M $98.07M
YoY Change -4.76% 6.37%
Gross Profit $30.52M $26.25M
YoY Change -5.36% 12.7%
Gross Profit Margin 21.68% 21.11%
Selling, General & Admin $24.90M $22.75M
YoY Change 1.5% 6.19%
% of Gross Profit 81.56% 86.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.485M $2.374M
YoY Change -9.69% -5.23%
% of Gross Profit 11.42% 9.04%
Operating Expenses $24.90M $22.75M
YoY Change 1.5% 6.19%
Operating Profit $4.504M $2.283M
YoY Change -29.06% 353.88%
Interest Expense -$1.493M $1.125M
YoY Change -194.85% -18.95%
% of Operating Profit -33.15% 49.28%
Other Income/Expense, Net $152.0K $3.536M
YoY Change -121.14% -293.54%
Pretax Income $3.163M $4.694M
YoY Change -22.02% -273.08%
Income Tax $346.0K $289.0K
% Of Pretax Income 10.94% 6.16%
Net Earnings $2.847M $4.436M
YoY Change -19.37% -306.13%
Net Earnings / Revenue 2.02% 3.57%
Basic Earnings Per Share $0.26 $0.41
Diluted Earnings Per Share $0.26 $0.40
COMMON SHARES
Basic Shares Outstanding 10.96M shares 11.00M shares
Diluted Shares Outstanding 11.06M shares 10.99M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.021M $3.148M
YoY Change 3.63% 19.29%
Cash & Equivalents $4.021M $3.148M
Short-Term Investments
Other Short-Term Assets $10.91M $12.06M
YoY Change -10.43% 1.85%
Inventory $80.09M $85.76M
Prepaid Expenses
Receivables $96.45M $82.01M
Other Receivables $0.00 $0.00
Total Short-Term Assets $191.5M $183.0M
YoY Change -6.04% -1.19%
LONG-TERM ASSETS
Property, Plant & Equipment $88.92M $90.23M
YoY Change -4.1% -5.49%
Goodwill $32.02M $32.00M
YoY Change 1.96% 3.67%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.774M $2.993M
YoY Change 56.14% 29.85%
Total Long-Term Assets $141.8M $143.4M
YoY Change -4.06% -5.14%
TOTAL ASSETS
Total Short-Term Assets $191.5M $183.0M
Total Long-Term Assets $141.8M $143.4M
Total Assets $333.3M $326.4M
YoY Change -5.21% -2.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.92M $43.37M
YoY Change 4.52% -10.68%
Accrued Expenses $12.89M $15.86M
YoY Change -13.66% 21.04%
Deferred Revenue $7.532M $11.46M
YoY Change -52.83% -21.28%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $167.0K $159.0K
YoY Change 63.73% 35.9%
Total Short-Term Liabilities $80.43M $84.18M
YoY Change -12.23% -4.88%
LONG-TERM LIABILITIES
Long-Term Debt $87.01M $77.93M
YoY Change -2.68% -2.57%
Other Long-Term Liabilities $6.504M $6.648M
YoY Change -13.8% -13.82%
Total Long-Term Liabilities $6.504M $6.648M
YoY Change -13.8% -13.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.43M $84.18M
Total Long-Term Liabilities $6.504M $6.648M
Total Liabilities $86.93M $90.83M
YoY Change -12.35% -5.6%
SHAREHOLDERS EQUITY
Retained Earnings $131.9M $129.1M
YoY Change 5.92% 6.65%
Common Stock $111.0K $111.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $147.1M $144.6M
YoY Change
Total Liabilities & Shareholders Equity $333.3M $326.4M
YoY Change -5.21% -2.97%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $2.847M $4.436M
YoY Change -19.37% -306.13%
Depreciation, Depletion And Amortization $3.485M $2.374M
YoY Change -9.69% -5.23%
Cash From Operating Activities -$4.954M -$21.86M
YoY Change -51.74% -415.41%
INVESTING ACTIVITIES
Capital Expenditures $2.054M $2.292M
YoY Change 158.04% 227.9%
Acquisitions
YoY Change
Other Investing Activities $380.0K $3.501M
YoY Change -90.13% -34.68%
Cash From Investing Activities -$1.674M $1.209M
YoY Change -154.8% -74.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.517M $21.30M
YoY Change -11.14% -277.16%
NET CHANGE
Cash From Operating Activities -4.954M -$21.86M
Cash From Investing Activities -1.674M $1.209M
Cash From Financing Activities 7.517M $21.30M
Net Change In Cash 889.0K $588.0K
YoY Change -28.82% -341.98%
FREE CASH FLOW
Cash From Operating Activities -$4.954M -$21.86M
Capital Expenditures $2.054M $2.292M
Free Cash Flow -$7.008M -$24.16M
YoY Change -36.64% -487.55%

Facts In Submission

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CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
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CY2024Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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CY2024Q1 fstr Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Adjustment For Incentive Awards Expected To Vest Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
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CY2024Q1 fstr Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
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CY2023Q4 us-gaap Derivative Assets
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CY2024Q1 us-gaap Assets Fair Value Disclosure
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CY2024Q1 fstr Number Of Defined Contribution Plans
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CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
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CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
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CY2024Q1 fstr Litigation Settlement Amount Awarded To Other Party Scheduled Payment Remainder Of Year
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CY2017Q2 fstr Number Of Companies Receiving General Notice Letter
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CY2024Q1 fstr Present Value Of Proposed Remedial Work
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CY2024Q1 fstr Undiscovered Remedial Work
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CY2024Q1 fstr Remedial Work Anticipated Clean Up Period
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P13Y
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CY2024Q1 fstr Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
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financial condition
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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