2023 Q3 Form 10-Q Financial Statement

#000117633423000140 Filed on July 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $176.7M $195.6M
YoY Change -22.94% -26.73%
Cost Of Revenue $75.78M $97.25M
YoY Change -50.2% -38.03%
Gross Profit $100.9M $98.39M
YoY Change 30.86% -10.61%
Gross Profit Margin 57.11% 50.29%
Selling, General & Admin $10.42M $8.447M
YoY Change 1.47% -15.05%
% of Gross Profit 10.33% 8.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.22M $12.55M
YoY Change -10.92% -15.22%
% of Gross Profit 12.11% 12.75%
Operating Expenses $10.42M $8.447M
YoY Change 1.47% -15.05%
Operating Profit $14.70M $17.33M
YoY Change -220.09% -19.36%
Interest Expense -$14.70M -$14.92M
YoY Change 10.41% 21.49%
% of Operating Profit -99.97% -86.1%
Other Income/Expense, Net -$14.98M -$15.25M
YoY Change 7.69% 18.72%
Pretax Income -$273.0K $2.077M
YoY Change -98.96% -75.97%
Income Tax $788.0K $996.0K
% Of Pretax Income 47.95%
Net Earnings -$1.061M $1.081M
YoY Change -96.22% -83.64%
Net Earnings / Revenue -0.6% 0.55%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.03 $0.03
COMMON SHARES
Basic Shares Outstanding 38.91M shares 38.91M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.0K $57.00K
YoY Change 122.22% 32.56%
Cash & Equivalents $54.00K $57.00K
Short-Term Investments
Other Short-Term Assets $7.647M $6.926M
YoY Change -55.37% -76.56%
Inventory $41.70M $50.87M
Prepaid Expenses
Receivables $60.50M $57.02M
Other Receivables $2.096M $2.356M
Total Short-Term Assets $111.9M $117.2M
YoY Change -51.82% -50.64%
LONG-TERM ASSETS
Property, Plant & Equipment $365.3M $354.5M
YoY Change 1.56% -2.02%
Goodwill $16.67M $16.67M
YoY Change -0.9% -0.9%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.933M $1.899M
YoY Change -33.23% -24.25%
Total Long-Term Assets $396.0M $385.6M
YoY Change 0.08% -3.28%
TOTAL ASSETS
Total Short-Term Assets $111.9M $117.2M
Total Long-Term Assets $396.0M $385.6M
Total Assets $507.9M $502.8M
YoY Change -19.12% -20.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.91M $48.47M
YoY Change -40.71% -53.91%
Accrued Expenses $23.30M $33.70M
YoY Change 39.06% 22.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $80.98M $88.78M
YoY Change -73.95% -39.97%
LONG-TERM LIABILITIES
Long-Term Debt $439.8M $436.5M
YoY Change 28.39% -10.8%
Other Long-Term Liabilities $7.973M $7.482M
YoY Change -4.21% 1.89%
Total Long-Term Liabilities $447.8M $444.0M
YoY Change 27.62% -10.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.98M $88.78M
Total Long-Term Liabilities $447.8M $444.0M
Total Liabilities $572.9M $566.6M
YoY Change -16.64% -15.06%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$65.00M -$63.76M
YoY Change
Total Liabilities & Shareholders Equity $507.9M $502.8M
YoY Change -19.12% -20.96%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.061M $1.081M
YoY Change -96.22% -83.64%
Depreciation, Depletion And Amortization $12.22M $12.55M
YoY Change -10.92% -15.22%
Cash From Operating Activities $7.300M $49.51M
YoY Change -116.15% 65044.74%
INVESTING ACTIVITIES
Capital Expenditures $8.300M $9.497M
YoY Change 29.99% -314.96%
Acquisitions
YoY Change
Other Investing Activities -$800.0K $305.0K
YoY Change -29.95% 34.36%
Cash From Investing Activities -$9.100M -$9.192M
YoY Change 20.9% 119.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.800M -40.32M
YoY Change -96.59% -1148.31%
NET CHANGE
Cash From Operating Activities 7.300M 49.51M
Cash From Investing Activities -9.100M -9.192M
Cash From Financing Activities 1.800M -40.32M
Net Change In Cash 0.000000008149 -0.000000007451
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities $7.300M $49.51M
Capital Expenditures $8.300M $9.497M
Free Cash Flow -$1.000M $40.01M
YoY Change -98.06% 790.36%

Facts In Submission

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ShortTermLeaseCost
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LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
13072000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
11330000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
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LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
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CY2023Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
5188000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
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CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
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LesseeOperatingLeaseLiabilityPaymentsDue
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CY2023Q2 us-gaap Finance Lease Liability Payments Due
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CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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12432000 usd
CY2023Q2 mmlp Non Cancelable Revenue Arrangements Future Minimum Revenues Year One
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17842000 usd
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NonCancelableRevenueArrangementsFutureMinimumRevenuesThereafter
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4992000 usd
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38914806 shares
mmlp Limited Partners Capital Account Distribution Period
LimitedPartnersCapitalAccountDistributionPeriod
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NetIncomeLoss
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NetIncomeLoss
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18084000 usd
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GeneralPartnersCapitalAccountPeriodDistributionNetAmount
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CY2023Q2 mmlp Distributions Payable To The General Partner Interest In Excess Of Loss Allocable To The General Partner Interest
DistributionsPayableToTheGeneralPartnerInterestInExcessOfLossAllocableToTheGeneralPartnerInterest
-18000 usd
CY2022Q2 mmlp Distributions Payable To The General Partner Interest In Excess Of Loss Allocable To The General Partner Interest
DistributionsPayableToTheGeneralPartnerInterestInExcessOfLossAllocableToTheGeneralPartnerInterest
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mmlp Distributions Payable To The General Partner Interest In Excess Of Loss Allocable To The General Partner Interest
DistributionsPayableToTheGeneralPartnerInterestInExcessOfLossAllocableToTheGeneralPartnerInterest
88000 usd
mmlp Distributions Payable To The General Partner Interest In Excess Of Loss Allocable To The General Partner Interest
DistributionsPayableToTheGeneralPartnerInterestInExcessOfLossAllocableToTheGeneralPartnerInterest
-354000 usd
CY2023Q2 mmlp Income Loss Allocable To Unvested Restricted Unit Income
IncomeLossAllocableToUnvestedRestrictedUnitIncome
4000 usd
CY2022Q2 mmlp Income Loss Allocable To Unvested Restricted Unit Income
IncomeLossAllocableToUnvestedRestrictedUnitIncome
21000 usd
mmlp Income Loss Allocable To Unvested Restricted Unit Income
IncomeLossAllocableToUnvestedRestrictedUnitIncome
-12000 usd
mmlp Income Loss Allocable To Unvested Restricted Unit Income
IncomeLossAllocableToUnvestedRestrictedUnitIncome
51000 usd
CY2023Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1055000 usd
CY2022Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
6453000 usd
us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-3913000 usd
us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
17671000 usd
CY2023Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
38772266 shares
CY2023Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
38772266 shares
CY2022Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
38729118 shares
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21490000 usd
CY2022Q2 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
38729118 shares
us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
38771037 shares
us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
38725701 shares
CY2023Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
5334 shares
CY2022Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
21035 shares
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0 shares
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
27496 shares
CY2023Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
38777600 shares
CY2022Q2 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
38750153 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
38771037 shares
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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38753197 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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1122000 usd
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2060000 usd
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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3000000 shares
CY2022 mmlp Business And Strategic Development Support Charges Paid
BusinessAndStrategicDevelopmentSupportChargesPaid
263000 usd
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BusinessAndStrategicDevelopmentSupportChargesPaid
263000 usd
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4 segment
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195636000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
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12547000 usd
CY2023Q2 us-gaap Operating Income Loss
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17329000 usd
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DepreciationDepletionAndAmortization
14800000 usd
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Assets
502817000 usd
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Assets
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CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
996000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2037000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2831000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

Files In Submission

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0001176334-23-000140.txt Edgar Link pending
0001176334-23-000140-xbrl.zip Edgar Link pending
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exhibit31_2q22023.htm Edgar Link pending
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