2024 Q3 Form 10-Q Financial Statement

#000005513524000036 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $1.038B
YoY Change -14.71%
Cost Of Revenue $816.4M
YoY Change -16.4%
Gross Profit $221.7M
YoY Change -7.86%
Gross Profit Margin 21.36%
Selling, General & Admin $219.0M
YoY Change -5.6%
% of Gross Profit 98.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.10M
YoY Change 26.14%
% of Gross Profit 5.01%
Operating Expenses $219.0M
YoY Change -5.6%
Operating Profit $2.600M
YoY Change -58.06%
Interest Expense -$4.100M
YoY Change -783.33%
% of Operating Profit -157.69%
Other Income/Expense, Net -$4.400M
YoY Change 633.33%
Pretax Income -$1.800M
YoY Change -132.14%
Income Tax -$2.600M
% Of Pretax Income
Net Earnings $800.0K
YoY Change -89.33%
Net Earnings / Revenue 0.08%
Basic Earnings Per Share $0.02
Diluted Earnings Per Share $0.02
COMMON SHARES
Basic Shares Outstanding 35.60M shares
Diluted Shares Outstanding 36.00M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.80M
YoY Change -73.72%
Cash & Equivalents $32.80M
Short-Term Investments
Other Short-Term Assets $76.10M
YoY Change -4.64%
Inventory
Prepaid Expenses
Receivables $1.249B
Other Receivables $0.00
Total Short-Term Assets $1.358B
YoY Change -16.63%
LONG-TERM ASSETS
Property, Plant & Equipment $26.50M
YoY Change -7.99%
Goodwill $374.0M
YoY Change 147.52%
Intangibles $264.3M
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.80M
YoY Change -89.49%
Total Long-Term Assets $1.331B
YoY Change 37.71%
TOTAL ASSETS
Total Short-Term Assets $1.358B
Total Long-Term Assets $1.331B
Total Assets $2.689B
YoY Change 3.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $604.7M
YoY Change -12.7%
Accrued Expenses $214.5M
YoY Change -30.31%
Deferred Revenue
YoY Change
Short-Term Debt $200.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $841.0M
YoY Change -20.28%
LONG-TERM LIABILITIES
Long-Term Debt $228.2M
YoY Change
Other Long-Term Liabilities $9.000M
YoY Change -19.64%
Total Long-Term Liabilities $566.0M
YoY Change 89.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $841.0M
Total Long-Term Liabilities $566.0M
Total Liabilities $1.407B
YoY Change 3.98%
SHAREHOLDERS EQUITY
Retained Earnings $1.265B
YoY Change 2.9%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.282B
YoY Change
Total Liabilities & Shareholders Equity $2.689B
YoY Change 3.62%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $800.0K
YoY Change -89.33%
Depreciation, Depletion And Amortization $11.10M
YoY Change 26.14%
Cash From Operating Activities -$20.30M
YoY Change -155.01%
INVESTING ACTIVITIES
Capital Expenditures $2.400M
YoY Change -51.02%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.400M
YoY Change -56.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.70M
YoY Change -176.21%
NET CHANGE
Cash From Operating Activities -20.30M
Cash From Investing Activities -2.400M
Cash From Financing Activities 15.70M
Net Change In Cash -7.000M
YoY Change -164.81%
FREE CASH FLOW
Cash From Operating Activities -$20.30M
Capital Expenditures $2.400M
Free Cash Flow -$22.70M
YoY Change -170.94%

Facts In Submission

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us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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kelya Proceeds From Investments In Equity Securities Operating Activities
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us-gaap Derivative Gain On Derivative
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us-gaap Payments To Acquire Productive Assets
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Proceeds From Life Insurance Policies
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us-gaap Proceeds From Life Insurance Policies
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kelya Proceeds From Investment In Equity Securities Investing Activities
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kelya Proceeds From Investment In Equity Securities Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Debt
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us-gaap Finance Lease Principal Payments
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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167600000 usd
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162400000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40400000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Restricted Cash Current
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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40400000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain reclassifications have been made to the prior year's consolidated financial statements to conform to the current year's presentation. Specifically, as discussed in the Segment Disclosures footnote, the Company has made a change to its reportable segments during the first quarter of 2024. We have also reclassified the presentation of our retirement plan assets, which represents our investment in life insurance contracts, and intangibles, net from the other assets line item to separate line items within our consolidated balance sheet.
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1038100000 usd
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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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
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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
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kelya Accounts Receivable Allowance For Credit Loss Disposal Of Assets
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kelya Accounts Receivable Allowance For Credit Loss Disposal Of Assets
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us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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us-gaap Restructuring Charges
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us-gaap Severance Costs1
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CY2024Q3 us-gaap Restructuring Reserve
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CY2024Q3 us-gaap Restructuring Reserve
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CY2023Q4 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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us-gaap Goodwill Impairment Loss
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CY2024Q3 us-gaap Goodwill
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6600000 usd
us-gaap Net Income Loss
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us-gaap Net Income Loss
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25000000.0 usd
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CY2024Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2023Q4 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
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ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
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us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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700000 usd
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CY2023Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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30400000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24500000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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35500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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36200000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
CY2023Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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400000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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300000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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36000000.0 shares
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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35800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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35900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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36500000 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2023Q4 us-gaap Earnings Per Share Basic
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0.18
us-gaap Earnings Per Share Basic
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0.86
us-gaap Earnings Per Share Basic
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0.68
CY2024Q3 us-gaap Earnings Per Share Diluted
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0.02
CY2023Q4 us-gaap Earnings Per Share Diluted
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0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
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0.67
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
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CY2024Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2023Q4 us-gaap Allocated Share Based Compensation Expense
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us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Consideration
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CY2024Q2 us-gaap Proceeds From Sale Of Other Productive Assets
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CY2024Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
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CY2024Q3 us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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CY2024Q3 us-gaap Investment Income Interest
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CY2023Q4 us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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CY2024Q3 us-gaap Interest Expense Nonoperating
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us-gaap Interest Expense Nonoperating
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us-gaap Interest Expense Nonoperating
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CY2024Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2023Q4 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
500000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-200000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1500000 usd
CY2024Q3 kelya Other Nonoperating Income Expense Miscellaneous
OtherNonoperatingIncomeExpenseMiscellaneous
-300000 usd
CY2023Q4 kelya Other Nonoperating Income Expense Miscellaneous
OtherNonoperatingIncomeExpenseMiscellaneous
0 usd
kelya Other Nonoperating Income Expense Miscellaneous
OtherNonoperatingIncomeExpenseMiscellaneous
-8200000 usd
kelya Other Nonoperating Income Expense Miscellaneous
OtherNonoperatingIncomeExpenseMiscellaneous
2100000 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4400000 usd
CY2023Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1600000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-9100000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000000.0 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2600000 usd
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4900000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2500000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5000000 usd
CY2024Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
3800000 usd
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
6400000 usd
CY2024Q3 us-gaap Loss Contingency Receivable
LossContingencyReceivable
1100000 usd
CY2023Q4 us-gaap Loss Contingency Receivable
LossContingencyReceivable
200000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2024Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2023Q4 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
1600000 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2024Q3 kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
14500000 usd
CY2023Q4 kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
10000000.0 usd
kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
37200000 usd
kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
29700000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2600000 usd
CY2023Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
100000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
41600000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
17000000.0 usd
CY2024Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
0 usd
CY2023Q4 us-gaap Gain Loss On Investments
GainLossOnInvestments
0 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
1200000 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
0 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4400000 usd
CY2023Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1600000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-9100000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000000.0 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1800000 usd
CY2023Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1700000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
33700000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20000000.0 usd
CY2024Q3 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2023Q4 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
1600000 usd
us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
DisposalGroupNotDiscontinuedOperationGainLossOnDisposal
0 usd
CY2024Q3 kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
14500000 usd
CY2023Q4 kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
10000000.0 usd
kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
37200000 usd
kelya Depreciation And Amortization Including Hosted Software Implementation Costs
DepreciationAndAmortizationIncludingHostedSoftwareImplementationCosts
29700000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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