2022 Q3 Form 10-Q Financial Statement

#000095017022016419 Filed on August 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $75.93M $75.66M $71.89M
YoY Change 3.73% 19.18%
Cost Of Revenue $45.86M $47.89M $45.72M
YoY Change 5.6% 16.11%
Gross Profit $30.07M $27.78M $26.18M
YoY Change 1.0% 24.89%
Gross Profit Margin 39.6% 36.71% 36.41%
Selling, General & Admin $15.89M $14.37M $14.77M
YoY Change 2.14% 13.59%
% of Gross Profit 52.84% 51.72% 56.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $838.0K $802.0K $1.088M
YoY Change -24.98% -8.24%
% of Gross Profit 2.79% 2.89% 4.16%
Operating Expenses $15.89M $14.37M $14.77M
YoY Change 2.14% 13.59%
Operating Profit $14.18M $13.41M $12.00M
YoY Change -0.25% 51.46%
Interest Expense $28.00K -$28.00K $26.00K
YoY Change 12.0% -212.0%
% of Operating Profit 0.2% -0.21% 0.22%
Other Income/Expense, Net
YoY Change
Pretax Income $14.15M $13.38M $11.98M
YoY Change -0.27% 51.57%
Income Tax $3.938M $2.876M $3.248M
% Of Pretax Income 27.82% 21.49% 27.11%
Net Earnings $10.22M $10.51M $16.52M
YoY Change -3.01% 65.15%
Net Earnings / Revenue 13.45% 13.88% 22.98%
Basic Earnings Per Share $0.32 $0.33 $0.55
Diluted Earnings Per Share $0.32 $329.9K $0.50
COMMON SHARES
Basic Shares Outstanding 31.65M 31.45M 29.81M
Diluted Shares Outstanding 32.22M 31.84M 32.88M

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $61.68M $47.75M $52.94M
YoY Change 17.59% -6.55%
Cash & Equivalents $61.68M $47.75M $45.79M
Short-Term Investments
Other Short-Term Assets $3.033M $5.364M $3.168M
YoY Change 15.63% 98.67%
Inventory
Prepaid Expenses
Receivables $49.49M $50.51M $49.61M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $114.2M $103.6M $102.2M
YoY Change 11.65% 12.15%
LONG-TERM ASSETS
Property, Plant & Equipment $18.64M $19.64M $18.03M
YoY Change -6.55% -2.31%
Goodwill $83.51M $85.07M
YoY Change
Intangibles $159.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $501.0K $540.0K $620.0K
YoY Change -56.13% -61.43%
Total Long-Term Assets $103.7M $104.8M $105.4M
YoY Change -2.62% -2.04%
TOTAL ASSETS
Total Short-Term Assets $114.2M $103.6M $102.2M
Total Long-Term Assets $103.7M $104.8M $105.4M
Total Assets $217.9M $208.4M $207.5M
YoY Change 4.37% 4.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.400M $8.041M $7.677M
YoY Change 14.53% 64.1%
Accrued Expenses $26.56M $20.58M $29.53M
YoY Change -8.18% -0.58%
Deferred Revenue $14.25M $14.62M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.64M $47.96M $54.89M
YoY Change -7.11% 3.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.019M $1.180M $1.962M
YoY Change -58.91% -60.67%
Total Long-Term Liabilities $1.019M $1.180M $1.962M
YoY Change -58.91% -60.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.64M $47.96M $54.89M
Total Long-Term Liabilities $1.019M $1.180M $1.962M
Total Liabilities $61.06M $58.13M $63.69M
YoY Change -5.18% 3.43%
SHAREHOLDERS EQUITY
Retained Earnings $25.04M $11.27M
YoY Change
Common Stock $304.2M $300.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $157.9M $157.3M
YoY Change
Treasury Stock Shares $28.39M $28.36M
Shareholders Equity $156.8M $150.3M $143.9M
YoY Change
Total Liabilities & Shareholders Equity $217.9M $208.4M $207.5M
YoY Change 4.37% 4.54%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $10.22M $10.51M $16.52M
YoY Change -3.01% 65.15%
Depreciation, Depletion And Amortization $838.0K $802.0K $1.088M
YoY Change -24.98% -8.24%
Cash From Operating Activities $18.24M $6.054M $6.818M
YoY Change 32.61% 2.7%
INVESTING ACTIVITIES
Capital Expenditures -$1.274M $993.0K -$838.0K
YoY Change 43.63% 89.14%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.274M -$993.0K -$838.0K
YoY Change 43.63% 89.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.066M
YoY Change -17.49%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.024M -3.076M -5.485M
YoY Change -73.7% -17.22%
NET CHANGE
Cash From Operating Activities 18.24M 6.054M 6.818M
Cash From Investing Activities -1.274M -993.0K -838.0K
Cash From Financing Activities -3.024M -3.076M -5.485M
Net Change In Cash 13.94M 1.958M 495.0K
YoY Change 921.03% 18.67%
FREE CASH FLOW
Cash From Operating Activities $18.24M $6.054M $6.818M
Capital Expenditures -$1.274M $993.0K -$838.0K
Free Cash Flow $19.51M $5.061M $7.656M
YoY Change 33.28% -5.75%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.1020833333333333;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Amortization Of Deferred Sales Commissions
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49485000
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CY2022Q3 hckt Accrued Compensation And Benefits
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CY2022Q3 us-gaap Dividends Payable Current
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CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Restructuring Liabilities
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us-gaap Operating Lease Cost
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2496000
us-gaap Lessee Operating Lease Lease Not Yet Commenced Description
LesseeOperatingLeaseLeaseNotYetCommencedDescription
As of July 1, 2022, the Company does not have any additional operating leases that have not yet commenced
CY2022Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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10600000
CY2022Q3 us-gaap Stock Repurchase Program Authorized Amount1
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167200000
CY2022Q3 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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4000
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
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CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021Q3 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
110000
CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
38000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1600000
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
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0.44
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
3500000
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
136683000
CY2022Q3 us-gaap Noncurrent Assets
NoncurrentAssets
103691000
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
105365000
CY2022Q3 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
13500000
CY2021Q4 hckt Goodwill Included In Foreign Asset
GoodwillIncludedInForeignAsset
15100000

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