$MMSI
MERIT MEDICAL SYSTEMS INC

2022 Q1 Form 10-Q Financial Statement

#000085698222000030 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $275.4M $248.9M
YoY Change 10.65% 2.21%
Cost Of Revenue $154.5M $137.0M
YoY Change 12.76% -1.95%
Gross Profit $120.9M $111.9M
YoY Change 8.05% 7.81%
Gross Profit Margin 43.9% 44.95%
Selling, General & Admin $84.02M $81.02M
YoY Change 3.69% 2.81%
% of Gross Profit 69.49% 72.41%
Research & Development $17.39M $16.27M
YoY Change 6.84% 9.43%
% of Gross Profit 14.38% 14.54%
Depreciation & Amortization $20.47M $21.40M
YoY Change -4.36% -8.23%
% of Gross Profit 16.93% 19.13%
Operating Expenses $105.7M $97.70M
YoY Change 8.16% -4.61%
Operating Profit $15.23M $14.19M
YoY Change 7.32% 942.14%
Interest Expense $1.002M $1.537M
YoY Change -34.81% -51.11%
% of Operating Profit 6.58% 10.83%
Other Income/Expense, Net -$1.062M -$1.500M
YoY Change -29.2% -55.28%
Pretax Income $14.17M $12.69M
YoY Change 11.64% -737.25%
Income Tax $3.626M $1.736M
% Of Pretax Income 25.59% 13.68%
Net Earnings $10.55M $10.96M
YoY Change -3.77% -447.43%
Net Earnings / Revenue 3.83% 4.4%
Basic Earnings Per Share $0.19 $0.20
Diluted Earnings Per Share $0.18 $0.19
COMMON SHARES
Basic Shares Outstanding 56.59M 55.72M
Diluted Shares Outstanding 57.53M 56.98M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.88M $58.50M
YoY Change -7.91% 16.77%
Cash & Equivalents $53.88M $58.52M
Short-Term Investments
Other Short-Term Assets $23.36M $17.30M
YoY Change 35.01% -12.63%
Inventory $231.5M $200.3M
Prepaid Expenses
Receivables $155.9M $150.3M
Other Receivables $13.55M $12.10M
Total Short-Term Assets $478.1M $438.5M
YoY Change 9.03% -5.19%
LONG-TERM ASSETS
Property, Plant & Equipment $371.9M $378.2M
YoY Change -1.66% -1.74%
Goodwill $361.5M $362.5M
YoY Change -0.29% 2.91%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.71M $37.29M
YoY Change 11.86% 1.96%
Total Long-Term Assets $1.152B $1.213B
YoY Change -5.08% -5.71%
TOTAL ASSETS
Total Short-Term Assets $478.1M $438.5M
Total Long-Term Assets $1.152B $1.213B
Total Assets $1.630B $1.652B
YoY Change -1.33% -5.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $58.10M $53.00M
YoY Change 9.62% -5.36%
Accrued Expenses $122.4M $132.2M
YoY Change -7.4% 51.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $9.375M $7.500M
YoY Change 25.0% 0.0%
Total Short-Term Liabilities $203.8M $207.7M
YoY Change -1.85% 25.64%
LONG-TERM LIABILITIES
Long-Term Debt $243.1M $312.9M
YoY Change -22.3% -28.59%
Other Long-Term Liabilities $14.55M $33.76M
YoY Change -56.9% -52.38%
Total Long-Term Liabilities $257.7M $346.6M
YoY Change -25.67% -31.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.8M $207.7M
Total Long-Term Liabilities $257.7M $346.6M
Total Liabilities $573.2M $675.0M
YoY Change -15.08% -16.61%
SHAREHOLDERS EQUITY
Retained Earnings $416.8M $368.8M
YoY Change 13.03% 1.17%
Common Stock $646.4M $615.1M
YoY Change 5.08% 4.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.057B $976.7M
YoY Change
Total Liabilities & Shareholders Equity $1.630B $1.652B
YoY Change -1.33% -5.58%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $10.55M $10.96M
YoY Change -3.77% -447.43%
Depreciation, Depletion And Amortization $20.47M $21.40M
YoY Change -4.36% -8.23%
Cash From Operating Activities $12.01M $35.23M
YoY Change -65.91% 22.06%
INVESTING ACTIVITIES
Capital Expenditures $9.526M $6.171M
YoY Change 54.37% -55.76%
Acquisitions $358.0K
YoY Change
Other Investing Activities -$342.0K $500.0K
YoY Change -168.4% 66.67%
Cash From Investing Activities -$9.868M -$6.348M
YoY Change 55.45% -57.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.641M $5.520M
YoY Change -70.27% 337.75%
Debt Paid & Issued, Net $70.90M $40.57M
YoY Change 74.76% 65.32%
Cash From Financing Activities -14.24M -26.25M
YoY Change -45.74% 321.01%
NET CHANGE
Cash From Operating Activities 12.01M 35.23M
Cash From Investing Activities -9.868M -6.348M
Cash From Financing Activities -14.24M -26.25M
Net Change In Cash -11.99M 1.603M
YoY Change -847.79% -72.17%
FREE CASH FLOW
Cash From Operating Activities $12.01M $35.23M
Capital Expenditures $9.526M $6.171M
Free Cash Flow $2.484M $29.06M
YoY Change -91.45% 94.86%

Facts In Submission

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