$MCFT
MasterCraft Boat Holdings, Inc.

2022 Q2 Form 10-Q Financial Statement

#000156459022019519 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q2 2021 Q1
Revenue $186.7M $147.9M $118.7M
YoY Change 26.3% 189.38% 15.71%
Cost Of Revenue $144.7M $110.6M $89.40M
YoY Change 30.83% 153.09% 9.97%
Gross Profit $42.03M $37.23M $29.27M
YoY Change 12.91% 402.59% 37.6%
Gross Profit Margin 22.51% 25.18% 24.67%
Selling, General & Admin $13.56M $13.70M $11.34M
YoY Change -1.03% 55.68% 3.1%
% of Gross Profit 32.26% 36.8% 38.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.559M $2.948M $2.861M
YoY Change 20.73% 3.8% 8.7%
% of Gross Profit 8.47% 7.92% 9.77%
Operating Expenses $14.55M $14.70M $12.33M
YoY Change -1.05% 50.0% 2.73%
Operating Profit $27.49M $22.56M $16.95M
YoY Change 21.82% -1031.59% -135.92%
Interest Expense -$341.0K -$800.0K $870.0K
YoY Change -57.38% -42.86% -179.09%
% of Operating Profit -1.24% -3.55% 5.13%
Other Income/Expense, Net
YoY Change
Pretax Income $27.15M $21.80M $16.08M
YoY Change 24.52% -673.68% -133.28%
Income Tax $6.211M $4.200M $3.574M
% Of Pretax Income 22.88% 19.27% 22.23%
Net Earnings $20.94M $17.57M $12.50M
YoY Change 19.17% -719.46% -134.05%
Net Earnings / Revenue 11.21% 11.88% 10.53%
Basic Earnings Per Share $1.14 $0.93 $0.66
Diluted Earnings Per Share $1.13 $0.93 $0.66
COMMON SHARES
Basic Shares Outstanding 18.30M 18.82M 18.81M
Diluted Shares Outstanding 18.49M 18.99M 18.93M

Balance Sheet

Concept 2022 Q2 2021 Q2 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.77M $29.00M $12.10M
YoY Change -52.53% 77.91% -70.49%
Cash & Equivalents $13.77M $28.97M $12.07M
Short-Term Investments
Other Short-Term Assets $8.994M $6.300M $3.700M
YoY Change 42.76% 70.27% -26.0%
Inventory $82.35M $53.48M $34.57M
Prepaid Expenses
Receivables $20.90M $10.50M $7.403M
Other Receivables $450.0K $700.0K $4.800M
Total Short-Term Assets $126.5M $91.40M $62.57M
YoY Change 38.36% 61.08% -36.78%
LONG-TERM ASSETS
Property, Plant & Equipment $64.31M $60.50M $55.98M
YoY Change 6.31% 49.44% 34.33%
Goodwill $28.49M $29.59M $29.59M
YoY Change -3.72% 0.0% 0.0%
Intangibles $56.90M $59.90M $61.87M
YoY Change -5.01% -6.19% -4.57%
Long-Term Investments
YoY Change
Other Assets $16.05M $16.10M $888.0K
YoY Change -0.3% 2040.96% 258.06%
Total Long-Term Assets $165.8M $185.1M $164.5M
YoY Change -10.43% 22.41% 8.71%
TOTAL ASSETS
Total Short-Term Assets $126.5M $91.40M $62.57M
Total Long-Term Assets $165.8M $185.1M $164.5M
Total Assets $292.2M $276.5M $227.0M
YoY Change 5.7% 32.96% -9.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.60M $23.20M $14.39M
YoY Change 27.6% 120.74% 2.75%
Accrued Expenses $21.06M $17.40M $14.40M
YoY Change 21.04% 52.63% -20.88%
Deferred Revenue $2.151M $1.848M
YoY Change 16.4% 230.59%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.872M $2.866M $9.739M
YoY Change 0.21% -67.91% 8.16%
Total Short-Term Liabilities $89.03M $74.29M $65.72M
YoY Change 19.84% 34.03% -0.31%
LONG-TERM LIABILITIES
Long-Term Debt $62.12M $90.28M $84.40M
YoY Change -31.19% -9.42% -34.79%
Other Long-Term Liabilities $5.372M $276.0K $373.0K
YoY Change 1846.38% -0.36% -89.64%
Total Long-Term Liabilities $62.12M $90.55M $84.77M
YoY Change -31.4% -9.4% -34.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $89.03M $74.29M $65.72M
Total Long-Term Liabilities $62.12M $90.55M $84.77M
Total Liabilities $156.5M $164.8M $155.0M
YoY Change -5.04% 3.64% -22.05%
SHAREHOLDERS EQUITY
Retained Earnings $46.88M -$11.33M -$45.43M
YoY Change -513.76% -83.21% -29.74%
Common Stock $96.77M $119.1M $117.4M
YoY Change -18.77% 2.36% 1.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $135.7M $90.45M $72.00M
YoY Change
Total Liabilities & Shareholders Equity $292.2M $256.4M $227.0M
YoY Change 13.97% 23.31% -9.28%

Cashflow Statement

Concept 2022 Q2 2021 Q2 2021 Q1
OPERATING ACTIVITIES
Net Income $20.94M $17.57M $12.50M
YoY Change 19.17% -719.46% -134.05%
Depreciation, Depletion And Amortization $3.559M $2.948M $2.861M
YoY Change 20.73% 3.8% 8.7%
Cash From Operating Activities $23.08M $24.23M $22.79M
YoY Change -4.75% 284.6% 461.33%
INVESTING ACTIVITIES
Capital Expenditures $4.123M $4.876M $16.95M
YoY Change -15.44% -861.87% 707.96%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$4.124M -$4.880M -$16.86M
YoY Change -15.49% 662.5% 702.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.10M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.83M -2.460M -2.710M
YoY Change 665.65% -91.89% -108.07%
NET CHANGE
Cash From Operating Activities 23.08M 24.23M 22.79M
Cash From Investing Activities -4.124M -4.880M -16.86M
Cash From Financing Activities -18.83M -2.460M -2.710M
Net Change In Cash 119.0K 16.89M 3.220M
YoY Change -99.3% -168.46% -90.94%
FREE CASH FLOW
Cash From Operating Activities $23.08M $24.23M $22.79M
Capital Expenditures $4.123M $4.876M $16.95M
Free Cash Flow $18.96M $19.35M $5.839M
YoY Change -2.06% 178.88% 197.6%

Facts In Submission

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<p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications<span style="font-weight:normal;font-style:normal;"> — Certain historical amounts have been reclassified in these condensed consolidated financial statements and the accompanying notes herewith to conform to the current presentation.</span></p>
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PaymentsForRepurchaseOfCommonStock
10100000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21500000
CY2022Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
28500000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
27487000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3559000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
186735000
CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4123000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
490210000
us-gaap Operating Income Loss
OperatingIncomeLoss
62084000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10153000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1100000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10839000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
147854000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2948000
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4876000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
370276000
us-gaap Operating Income Loss
OperatingIncomeLoss
52912000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8547000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23779000
CY2022Q2 us-gaap Assets
Assets
292214000
CY2021Q2 us-gaap Assets
Assets
276460000

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