2021 Q3 Form 10-Q Financial Statement

#000155837021012209 Filed on September 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q3
Revenue $54.18M $57.92M $45.38M
YoY Change 19.38% 56.01% -22.43%
Cost Of Revenue $41.20M $43.13M $34.31M
YoY Change 20.08% 41.78% -16.94%
Gross Profit $12.97M $14.79M $11.07M
YoY Change 17.21% 120.51% -35.6%
Gross Profit Margin 23.95% 25.54% 24.39%
Selling, General & Admin $10.33M $11.27M $9.627M
YoY Change 7.31% 6.36% -23.55%
% of Gross Profit 79.63% 76.2% 86.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.034M $1.046M $1.250M
YoY Change -17.28% -1.32% 37.36%
% of Gross Profit 7.97% 7.07% 11.29%
Operating Expenses $10.33M $11.27M $9.627M
YoY Change 7.31% 6.36% -23.55%
Operating Profit $2.643M $3.521M $1.442M
YoY Change 83.29% -190.51% -68.63%
Interest Expense $2.000K $2.000K $19.00K
YoY Change -89.47% -93.75% 5.56%
% of Operating Profit 0.08% 0.06% 1.32%
Other Income/Expense, Net $11.00K -$160.0K -$223.0K
YoY Change -104.93% -79.82% 189.61%
Pretax Income $2.677M $3.384M $1.225M
YoY Change 118.53% -172.12% -73.63%
Income Tax $1.109M $947.0K -$937.0K
% Of Pretax Income 41.43% 27.98% -76.49%
Net Earnings $1.568M $2.437M $2.162M
YoY Change -27.47% -162.06% -38.07%
Net Earnings / Revenue 2.89% 4.21% 4.76%
Basic Earnings Per Share $0.23 $0.37 $0.32
Diluted Earnings Per Share $0.23 $0.36 $0.32
COMMON SHARES
Basic Shares Outstanding 6.601M 6.596M 6.595M
Diluted Shares Outstanding 6.618M 6.612M 6.604M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.47M $73.89M $47.10M
YoY Change 70.85% 63.11% -28.74%
Cash & Equivalents $80.47M $73.89M $47.09M
Short-Term Investments
Other Short-Term Assets $191.0K $248.0K $334.0K
YoY Change -42.81% -98.45% -97.41%
Inventory $149.3M $145.3M $154.8M
Prepaid Expenses $14.09M $14.46M $14.56M
Receivables $31.80M $37.04M $32.05M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $276.3M $271.4M $249.2M
YoY Change 10.87% 12.18% -7.97%
LONG-TERM ASSETS
Property, Plant & Equipment $10.99M $11.39M $12.40M
YoY Change -11.37% -54.64% -8.17%
Goodwill $4.921M
YoY Change
Intangibles $1.645M $1.721M $1.767M
YoY Change -6.9%
Long-Term Investments $9.348M $9.175M $8.700M
YoY Change 7.45% 13.27% 4.82%
Other Assets $9.348M $9.175M $8.695M
YoY Change 7.51% 439.71% 334.75%
Total Long-Term Assets $43.43M $44.47M $50.09M
YoY Change -13.3% -10.16% 42.7%
TOTAL ASSETS
Total Short-Term Assets $276.3M $271.4M $249.2M
Total Long-Term Assets $43.43M $44.47M $50.09M
Total Assets $319.7M $315.8M $299.3M
YoY Change 6.83% 8.38% -2.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.86M $37.81M $31.83M
YoY Change 31.5% 26.03% -29.58%
Accrued Expenses $4.529M $4.132M $4.744M
YoY Change -4.53% -73.68% -71.07%
Deferred Revenue $8.194M $8.321M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $69.02M $65.17M $50.56M
YoY Change 36.5% 40.76% -21.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.73M $13.97M $14.50M
YoY Change -5.3% -2.34% 150.0%
Total Long-Term Liabilities $13.80M $14.06M $14.71M
YoY Change -6.15% -1.71% 153.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.02M $65.17M $50.56M
Total Long-Term Liabilities $13.80M $14.06M $14.71M
Total Liabilities $82.82M $79.23M $65.27M
YoY Change 26.89% 30.52% -6.63%
SHAREHOLDERS EQUITY
Retained Earnings $174.4M $173.8M $176.9M
YoY Change -1.42%
Common Stock $660.0K $660.0K $657.0K
YoY Change 0.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $236.9M $236.6M $234.0M
YoY Change
Total Liabilities & Shareholders Equity $319.7M $315.8M $299.3M
YoY Change 6.83% 8.38% -2.15%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q3
OPERATING ACTIVITIES
Net Income $1.568M $2.437M $2.162M
YoY Change -27.47% -162.06% -38.07%
Depreciation, Depletion And Amortization $1.034M $1.046M $1.250M
YoY Change -17.28% -1.32% 37.36%
Cash From Operating Activities $8.514M $8.900M $5.020M
YoY Change 69.6% -526.04% -441.03%
INVESTING ACTIVITIES
Capital Expenditures $325.0K $378.0K $89.00K
YoY Change 265.17% 86.21% -93.3%
Acquisitions
YoY Change
Other Investing Activities $28.00K $42.00K $0.00
YoY Change -30.0% -100.0%
Cash From Investing Activities -$580.0K -$699.0K -$324.0K
YoY Change 79.01% 104.39% -77.07%
FINANCING ACTIVITIES
Cash Dividend Paid $951.0K $924.0K $875.0K
YoY Change 8.69% 5.12% 6.97%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -951.0K -924.0K -3.896M
YoY Change -75.59% -80.71% 376.28%
NET CHANGE
Cash From Operating Activities 8.514M 8.900M 5.020M
Cash From Investing Activities -580.0K -699.0K -324.0K
Cash From Financing Activities -951.0K -924.0K -3.896M
Net Change In Cash 6.583M 7.335M 1.822M
YoY Change 261.31% -200.2% -144.69%
FREE CASH FLOW
Cash From Operating Activities $8.514M $8.900M $5.020M
Capital Expenditures $325.0K $378.0K $89.00K
Free Cash Flow $8.189M $8.522M $4.931M
YoY Change 66.07% -471.82% -276.11%

Facts In Submission

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CY2021Q3 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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17000
CY2021Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
17000
CY2020Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
23000
CY2020Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
23000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
51000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
51000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-28000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-28000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1551000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1551000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2139000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2139000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4617000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4617000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2630000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-2630000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6601000
CY2021Q3 hurc Weighted Average Number Of Diluted Shares Outstanding Before Dilutive Effect
WeightedAverageNumberOfDilutedSharesOutstandingBeforeDilutiveEffect
6601000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6595000
CY2020Q3 hurc Weighted Average Number Of Diluted Shares Outstanding Before Dilutive Effect
WeightedAverageNumberOfDilutedSharesOutstandingBeforeDilutiveEffect
6595000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6591000
hurc Weighted Average Number Of Diluted Shares Outstanding Before Dilutive Effect
WeightedAverageNumberOfDilutedSharesOutstandingBeforeDilutiveEffect
6591000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6705000
hurc Weighted Average Number Of Diluted Shares Outstanding Before Dilutive Effect
WeightedAverageNumberOfDilutedSharesOutstandingBeforeDilutiveEffect
6705000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
17000
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
9000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
14000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6601000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6618000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6595000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6604000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6591000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6605000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6705000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6705000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1600000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1400000
CY2021Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
37815000
CY2020Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
30390000
CY2021Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16901000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
12635000
CY2021Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
94610000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
106839000
CY2021Q3 us-gaap Inventory Net
InventoryNet
149326000
CY2020Q4 us-gaap Inventory Net
InventoryNet
149864000
us-gaap Lease Cost
LeaseCost
3900000
us-gaap Lease Cost
LeaseCost
3700000
us-gaap Operating Lease Payments
OperatingLeasePayments
3827000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3003000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1208000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4116000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2775000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1210000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
821000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1750000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11880000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
378000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
11502000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.016
hurc Number Of Guarantees
NumberOfGuarantees
12
CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
1000000.0
hurc Term Of Product Warranty
TermOfProductWarranty
P1Y
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1200000
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1760000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1495000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1474000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1384000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1988000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
21000
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
25000
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1332000
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1271000
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
0
hurc Employee Retention Credit
EmployeeRetentionCredit
2900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2300000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.36
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.46
CY2021Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
268000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
204000
CY2021Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
41000
hurc Unrecognized Tax Benefits Expiration Term
UnrecognizedTaxBenefitsExpirationTerm
expire between August 2021 and August 2024
CY2021Q3 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
93600000
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
70800000

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