2023 Q2 Form 10-Q Financial Statement

#000111448323000016 Filed on April 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $400.0M $378.8M
YoY Change 28.67%
Cost Of Revenue $293.7M $282.1M
YoY Change 28.02%
Gross Profit $106.3M $96.67M
YoY Change 30.49%
Gross Profit Margin 26.58% 25.52%
Selling, General & Admin $35.41M $41.89M
YoY Change -10.49%
% of Gross Profit 33.31% 43.33%
Research & Development $16.57M $19.09M
YoY Change 3.0%
% of Gross Profit 15.58% 19.75%
Depreciation & Amortization $24.44M $24.13M
YoY Change 8.43%
% of Gross Profit 22.99% 24.96%
Operating Expenses $61.60M $62.51M
YoY Change 4.45%
Operating Profit $44.72M $34.17M
YoY Change 98.77%
Interest Expense -$10.36M $17.25M
YoY Change -273.53%
% of Operating Profit -23.16% 50.5%
Other Income/Expense, Net -$1.290M -$760.0K
YoY Change 628.81%
Pretax Income $29.89M $16.00M
YoY Change 114.31%
Income Tax $5.921M $2.932M
% Of Pretax Income 19.81% 18.33%
Net Earnings $23.97M $13.07M
YoY Change 110.88%
Net Earnings / Revenue 5.99% 3.45%
Basic Earnings Per Share $0.72 $0.39
Diluted Earnings Per Share $0.71 $0.39
COMMON SHARES
Basic Shares Outstanding 33.28M shares 33.24M shares
Diluted Shares Outstanding 33.69M shares 33.58M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.62M $40.60M
YoY Change 50.44%
Cash & Equivalents $38.62M $40.60M
Short-Term Investments
Other Short-Term Assets $28.82M $29.61M
YoY Change 3.87%
Inventory $228.9M $225.3M
Prepaid Expenses
Receivables $316.5M $250.5M
Other Receivables $3.030M $2.056M
Total Short-Term Assets $615.9M $629.0M
YoY Change 24.48%
LONG-TERM ASSETS
Property, Plant & Equipment $427.7M $331.0M
YoY Change 56.18%
Goodwill $986.0M $986.9M
YoY Change 6.75%
Intangibles $797.6M $811.5M
YoY Change 0.66%
Long-Term Investments $13.87M $13.73M
YoY Change -28.61%
Other Assets $20.26M $27.66M
YoY Change -51.96%
Total Long-Term Assets $2.245B $2.245B
YoY Change 6.25%
TOTAL ASSETS
Total Short-Term Assets $615.9M $629.0M
Total Long-Term Assets $2.245B $2.245B
Total Assets $2.861B $2.874B
YoY Change 9.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.5M $124.3M
YoY Change 19.43%
Accrued Expenses $75.51M $69.92M
YoY Change 35.41%
Deferred Revenue $8.777M $6.366M
YoY Change 25.1%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $10.00M
YoY Change -67.21%
Total Short-Term Liabilities $199.8M $225.5M
YoY Change 15.46%
LONG-TERM LIABILITIES
Long-Term Debt $988.1M $992.5M
YoY Change 21.33%
Other Long-Term Liabilities $74.86M $14.86M
YoY Change 255.48%
Total Long-Term Liabilities $1.063B $1.007B
YoY Change 27.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $199.8M $225.5M
Total Long-Term Liabilities $1.063B $1.007B
Total Liabilities $1.416B $1.456B
YoY Change 13.83%
SHAREHOLDERS EQUITY
Retained Earnings $717.7M $693.8M
YoY Change 14.71%
Common Stock $715.7M $709.2M
YoY Change -0.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.446B $1.418B
YoY Change
Total Liabilities & Shareholders Equity $2.861B $2.874B
YoY Change 9.71%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $23.97M $13.07M
YoY Change 110.88%
Depreciation, Depletion And Amortization $24.44M $24.13M
YoY Change 8.43%
Cash From Operating Activities $56.14M $6.188M
YoY Change 209.15%
INVESTING ACTIVITIES
Capital Expenditures $32.72M $24.69M
YoY Change 201.22%
Acquisitions $0.00
YoY Change
Other Investing Activities $50.00K $0.00
YoY Change -89.25%
Cash From Investing Activities -$32.67M -$24.69M
YoY Change 214.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $390.9M
YoY Change
Cash From Financing Activities -25.52M $33.12M
YoY Change 2382.78%
NET CHANGE
Cash From Operating Activities 56.14M $6.188M
Cash From Investing Activities -32.67M -$24.69M
Cash From Financing Activities -25.52M $33.12M
Net Change In Cash -2.050M $16.33M
YoY Change -126.34%
FREE CASH FLOW
Cash From Operating Activities $56.14M $6.188M
Capital Expenditures $32.72M $24.69M
Free Cash Flow $23.42M -$18.51M
YoY Change 220.95%

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CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q1 itgr Long Term Debt Maturity After Year Four
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7900000 usd
CY2023Q1 us-gaap Restructuring Charges
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CY2023Q1 itgr Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
382000 usd
CY2022Q2 itgr Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
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CY2023Q1 us-gaap Other General Expense
OtherGeneralExpense
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CY2022Q2 us-gaap Other General Expense
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CY2023Q1 itgr Restructuring And Other Charges Net
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1529000 usd
CY2022Q2 itgr Restructuring And Other Charges Net
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3335000 usd
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
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CY2022Q2 us-gaap Restructuring Charges
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1103000 usd
CY2023Q1 us-gaap Restructuring Costs
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CY2022Q2 us-gaap Restructuring Costs
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CY2022Q4 us-gaap Restructuring Reserve
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CY2023Q1 us-gaap Restructuring Charges
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CY2023Q1 us-gaap Payments For Restructuring
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2279000 usd
CY2023Q1 us-gaap Restructuring Reserve
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1151000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16000000 usd
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CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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13900000 usd
CY2023Q1 itgr Discrete Tax Benefits
DiscreteTaxBenefits
100000 usd
CY2022Q2 itgr Discrete Tax Benefits
DiscreteTaxBenefits
500000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
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7900000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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7800000 usd
CY2023Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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1900000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
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77000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Period Increase Decrease
StandardProductWarrantyAccrualPeriodIncreaseDecrease
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CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
84000 usd
CY2023Q1 us-gaap Net Income Loss
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13065000 usd
CY2022Q2 us-gaap Net Income Loss
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11367000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33258000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33091000 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
317000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
211000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33575000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33302000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2023Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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2723000 usd
CY2022Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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2256000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
378785000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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310912000 usd
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
282112000 usd
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
229437000 usd
CY2023Q1 us-gaap Operating Expenses
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62507000 usd
CY2022Q2 us-gaap Operating Expenses
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CY2023Q1 us-gaap Interest Expense
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17254000 usd
CY2022Q2 us-gaap Interest Expense
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5968000 usd
CY2023Q1 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
3900000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
11756000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2415000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
54000 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
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CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
493000 usd
CY2023Q1 itgr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslation
241000 usd
CY2022Q2 itgr Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Foreign Currency Translation
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityForeignCurrencyTranslation
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CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
11732000 usd
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1976000 usd
CY2023Q1 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
8097000 usd
CY2022Q4 us-gaap Equity Method Investments Fair Value Disclosure
EquityMethodInvestmentsFairValueDisclosure
8252000 usd
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
5637000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
5637000 usd
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
13734000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
13889000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-155000 usd
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2404000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
378785000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
310912000 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
34166000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22497000 usd
CY2023Q1 itgr Unallocated Other Expense
UnallocatedOtherExpense
18169000 usd
CY2022Q2 itgr Unallocated Other Expense
UnallocatedOtherExpense
8549000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
15997000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13948000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
80929000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
71927000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6366000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5616000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1300000 usd
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
900000 usd

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