2021 Q2 Form 10-Q Financial Statement

#000004625021000029 Filed on July 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $181.2M $143.2M
YoY Change 26.59% -2.83%
Cost Of Revenue $142.3M $112.2M
YoY Change 26.8% -5.35%
Gross Profit $38.97M $30.98M
YoY Change 25.82% 7.57%
Gross Profit Margin 21.5% 21.64%
Selling, General & Admin $16.86M $15.04M
YoY Change 12.09% 1.36%
% of Gross Profit 43.25% 48.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.935M $5.484M
YoY Change 8.22% 2.45%
% of Gross Profit 15.23% 17.7%
Operating Expenses $16.86M $15.04M
YoY Change 12.09% 1.36%
Operating Profit $22.12M $15.94M
YoY Change 38.78% 14.16%
Interest Expense -$349.0K -$400.0K
YoY Change -12.75% -50.0%
% of Operating Profit -1.58% -2.51%
Other Income/Expense, Net $232.0K $477.0K
YoY Change -51.36% 307.69%
Pretax Income $22.00M $16.04M
YoY Change 37.21% 20.43%
Income Tax $5.373M $4.247M
% Of Pretax Income 24.42% 26.49%
Net Earnings $16.63M $11.79M
YoY Change 41.06% 20.2%
Net Earnings / Revenue 9.17% 8.23%
Basic Earnings Per Share $0.79 $0.56
Diluted Earnings Per Share $0.79 $0.55
COMMON SHARES
Basic Shares Outstanding 21.03M shares 21.03M shares
Diluted Shares Outstanding 21.18M shares 21.29M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.222M $4.500M
YoY Change 16.04% -19.64%
Cash & Equivalents $5.222M $4.510M
Short-Term Investments
Other Short-Term Assets $3.671M $3.100M
YoY Change 18.42% -35.42%
Inventory $67.94M $63.39M
Prepaid Expenses
Receivables $90.94M $69.45M
Other Receivables $0.00 $0.00
Total Short-Term Assets $167.8M $140.4M
YoY Change 19.49% 1.67%
LONG-TERM ASSETS
Property, Plant & Equipment $142.2M $127.1M
YoY Change 11.95% 2.84%
Goodwill $70.80M $58.40M
YoY Change 21.23% -0.07%
Intangibles $74.79M $59.38M
YoY Change 25.94% -7.87%
Long-Term Investments
YoY Change
Other Assets $8.024M $5.417M
YoY Change 48.13% 21.24%
Total Long-Term Assets $307.2M $259.1M
YoY Change 18.6% -0.69%
TOTAL ASSETS
Total Short-Term Assets $167.8M $140.4M
Total Long-Term Assets $307.2M $259.1M
Total Assets $475.0M $399.5M
YoY Change 18.91% 0.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.05M $31.07M
YoY Change 22.48% -2.82%
Accrued Expenses $9.974M $8.300M
YoY Change 20.17% 7.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.907M $9.907M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $66.51M $56.68M
YoY Change 17.34% 1.78%
LONG-TERM LIABILITIES
Long-Term Debt $85.87M $55.78M
YoY Change 53.95% -25.32%
Other Long-Term Liabilities $496.0K $6.277M
YoY Change -92.1% 21.91%
Total Long-Term Liabilities $86.36M $62.05M
YoY Change 39.18% -22.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.51M $56.68M
Total Long-Term Liabilities $86.36M $62.05M
Total Liabilities $199.8M $156.0M
YoY Change 28.06% -11.13%
SHAREHOLDERS EQUITY
Retained Earnings $227.9M $192.3M
YoY Change 18.55% 11.94%
Common Stock $47.28M $51.26M
YoY Change -7.77% -0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $275.2M $243.4M
YoY Change
Total Liabilities & Shareholders Equity $475.0M $399.5M
YoY Change 18.91% 0.13%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $16.63M $11.79M
YoY Change 41.06% 20.2%
Depreciation, Depletion And Amortization $5.935M $5.484M
YoY Change 8.22% 2.45%
Cash From Operating Activities $14.82M $1.553M
YoY Change 854.35% -84.64%
INVESTING ACTIVITIES
Capital Expenditures $2.155M $4.848M
YoY Change -55.55% -47.07%
Acquisitions
YoY Change
Other Investing Activities -$26.00K -$61.00K
YoY Change -57.38% -3.17%
Cash From Investing Activities -$2.129M -$4.787M
YoY Change -55.53% -47.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$10.47M $3.467M
YoY Change -401.93% -175.27%
NET CHANGE
Cash From Operating Activities $14.82M $1.553M
Cash From Investing Activities -$2.129M -$4.787M
Cash From Financing Activities -$10.47M $3.467M
Net Change In Cash $2.224M $233.0K
YoY Change 854.51% -106.49%
FREE CASH FLOW
Cash From Operating Activities $14.82M $1.553M
Capital Expenditures $2.155M $4.848M
Free Cash Flow $12.67M -$3.295M
YoY Change -484.4% -446.48%

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CY2021Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2129000 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4787000 USD
CY2021Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2600000 USD
CY2020Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2479000 USD
CY2021Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1467000 USD
CY2020Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
54000 USD
CY2021Q2 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
3401000 USD
CY2020Q2 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
0 USD
CY2021Q2 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-3000000 USD
CY2020Q2 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
6000000 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10468000 USD
CY2020Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3467000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2224000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
233000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2998000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4277000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5222000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4510000 USD
CY2021Q2 us-gaap Interest Paid Net
InterestPaidNet
292000 USD
CY2020Q2 us-gaap Interest Paid Net
InterestPaidNet
288000 USD
CY2021Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
497000 USD
CY2020Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
334000 USD
CY2021Q2 us-gaap Revenues
Revenues
181241000 USD
CY2020Q2 us-gaap Revenues
Revenues
143172000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21034302 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21031456 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
144018 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
253890 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21178320 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21285346 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
75325000 USD
CY2021Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
69438000 USD
CY2021Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
7382000 USD
CY2021Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
5574000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
67943000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
63864000 USD
CY2021Q2 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
51000000.0 USD
CY2021Q1 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
46800000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
70800000 USD
CY2021Q1 us-gaap Goodwill
Goodwill
70700000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
109631000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
36071000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
73560000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
109631000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34490000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
75141000 USD
CY2021Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1227000 USD
CY2021Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1227000 USD
CY2021Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1227000 USD
CY2021Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1227000 USD
CY2021Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
110858000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
36071000 USD
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
74787000 USD
CY2021Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
110858000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34490000 USD
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
76368000 USD
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
96000000 USD
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
99000000 USD
CY2021Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
225000 USD
CY2021Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
248000 USD
CY2021Q2 hwkn Totaldebtnetofdebtissuancecosts
Totaldebtnetofdebtissuancecosts
95775000 USD
CY2021Q1 hwkn Totaldebtnetofdebtissuancecosts
Totaldebtnetofdebtissuancecosts
98752000 USD
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
9907000 USD
CY2021Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
9907000 USD
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
85868000 USD
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
88845000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.244
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.265
CY2021Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
10 years
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 USD
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000 USD
CY2021Q2 hwkn Number Of Operating Segments Aggregated
NumberOfOperatingSegmentsAggregated
0 Segment
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y6M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y8M23D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.026
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.027
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1803000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1544000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1343000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1299000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1242000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5969000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13200000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1673000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
11527000 USD
CY2021Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1600000 shares
CY2021Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100954 shares
CY2021Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100954 shares
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3400000 USD
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3400000 USD
CY2020Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2021Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
450552 shares
CY2021Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2021Q2 us-gaap Description Of Basis Of Accounting For Transactions Between Reportable Segments
DescriptionOfBasisOfAccountingForTransactionsBetweenReportableSegments
no
CY2021Q2 us-gaap Segment Reporting Disclosure Of Major Customers
SegmentReportingDisclosureOfMajorCustomers
No
CY2021Q2 us-gaap Revenues
Revenues
181241000 USD
CY2021Q2 us-gaap Gross Profit
GrossProfit
38974000 USD
CY2021Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16856000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22118000 USD
CY2020Q2 us-gaap Revenues
Revenues
143172000 USD
CY2020Q2 us-gaap Gross Profit
GrossProfit
30976000 USD
CY2020Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15038000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
15938000 USD
CY2021Q2 us-gaap Quarterly Financial Information Segment Reporting Segment Assets Material Change
QuarterlyFinancialInformationSegmentReportingSegmentAssetsMaterialChange
No

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