$MPAD
MICROPAC INDUSTRIES INC

2024 Q4 Form 10-Q Financial Statement

#000121465924017291 Filed on October 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $12.63M
YoY Change 95.62%
Cost Of Revenue $5.542M
YoY Change 21.11%
Gross Profit $7.091M
YoY Change 276.78%
Gross Profit Margin 56.13%
Selling, General & Admin $2.792M
YoY Change 38.42%
% of Gross Profit 39.37%
Research & Development $716.0K
YoY Change 57.71%
% of Gross Profit 10.1%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.508M
YoY Change 41.97%
Operating Profit $3.583M
YoY Change -708.32%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $3.668M
YoY Change -773.03%
Income Tax $697.0K
% Of Pretax Income 19.0%
Net Earnings $2.971M
YoY Change -660.57%
Net Earnings / Revenue 23.52%
Basic Earnings Per Share $1.15
Diluted Earnings Per Share $1.12
COMMON SHARES
Basic Shares Outstanding 2.578M shares 2.578M shares
Diluted Shares Outstanding 2.652M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $11.22M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $12.24M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $34.18M
YoY Change 18.27%
LONG-TERM ASSETS
Property, Plant & Equipment $23.67M
YoY Change -2.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $24.14M
YoY Change -1.23%
TOTAL ASSETS
Total Short-Term Assets $34.18M
Total Long-Term Assets $24.14M
Total Assets $58.32M
YoY Change 9.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.101M
YoY Change -10.12%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $443.0K
YoY Change 3.26%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.081M
YoY Change 10.39%
LONG-TERM LIABILITIES
Long-Term Debt $15.00M
YoY Change -2.69%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $15.00M
YoY Change -2.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.081M
Total Long-Term Liabilities $15.00M
Total Liabilities $19.08M
YoY Change -0.16%
SHAREHOLDERS EQUITY
Retained Earnings $38.96M
YoY Change 13.85%
Common Stock $308.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.250M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $39.24M
YoY Change
Total Liabilities & Shareholders Equity $58.32M
YoY Change 9.33%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $2.971M
YoY Change -660.57%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Small Business
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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2024
dei Document Fiscal Period Focus
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dei Current Fiscal Year End Date
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us-gaap Operating Income Loss
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dei Entity Central Index Key
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dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
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dei Document Period End Date
DocumentPeriodEndDate
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dei Document Transition Report
DocumentTransitionReport
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
MICROPAC INDUSTRIES, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
75-1225149
dei Entity Address Address Line1
EntityAddressAddressLine1
1655 State Hwy 66
dei Entity Address City Or Town
EntityAddressCityOrTown
Garland
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
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dei City Area Code
CityAreaCode
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dei Local Phone Number
LocalPhoneNumber
272-3571
dei Entity Current Reporting Status
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Assets
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Assets
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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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 Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
919000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3926000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10299000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15375000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11218000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11449000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1037000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
177000 usd
us-gaap Interest Paid Net
InterestPaidNet
407000 usd
us-gaap Interest Paid Net
InterestPaidNet
405000 usd
MPAD Accrued Additions Property Plant Equipment
AccruedAdditionsPropertyPlantEquipment
22000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
34796000 usd
CY2023Q1 us-gaap Dividends
Dividends
258000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-56000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
32482000 usd
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
39000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
215000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
34736000 usd
CY2023Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
20000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-530000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
34226000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
35268000 usd
CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
39000 usd
CY2024Q1 us-gaap Dividends
Dividends
258000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
177000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
35226000 usd
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
39000 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
846000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
36111000 usd
CY2024Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
153000 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
2971000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
39235000 usd
CY2024Q3 us-gaap Revenues
Revenues
12633000 usd
CY2023Q3 us-gaap Revenues
Revenues
6458000 usd
us-gaap Revenues
Revenues
26815000 usd
us-gaap Revenues
Revenues
20091000 usd
CY2024Q3 us-gaap Revenues
Revenues
12633000 usd
CY2023Q3 us-gaap Revenues
Revenues
6458000 usd
us-gaap Revenues
Revenues
26815000 usd
CY2024Q3 MPAD Domestic Direct
DomesticDirect
4298000 usd
CY2024Q3 MPAD Domestic Distrbution
DomesticDistrbution
7993000 usd
CY2024Q3 MPAD International Distribution
InternationalDistribution
342000 usd
CY2024Q3 us-gaap Revenues
Revenues
12633000 usd
CY2023Q3 MPAD Domestic Direct
DomesticDirect
4349000 usd
CY2023Q3 MPAD Domestic Distrbution
DomesticDistrbution
1845000 usd
CY2023Q3 MPAD International Distribution
InternationalDistribution
264000 usd
CY2023Q3 us-gaap Revenues
Revenues
6458000 usd
MPAD Domestic Direct
DomesticDirect
13312000 usd
MPAD Domestic Distrbution
DomesticDistrbution
12244000 usd
MPAD International Distribution
InternationalDistribution
1259000 usd
us-gaap Revenues
Revenues
26815000 usd
MPAD Domestic Direct
DomesticDirect
13065000 usd
MPAD Domestic Distrbution
DomesticDistrbution
5965000 usd
MPAD International Distribution
InternationalDistribution
1061000 usd
us-gaap Revenues
Revenues
20091000 usd
CY2024Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
9643000 usd
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
8021000 usd
CY2022Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
3644000 usd
CY2024Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
400000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
307000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
408000 usd
CY2024Q3 us-gaap Deferred Revenue
DeferredRevenue
223000 usd
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
618000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
1192000 usd
MPAD Deferred Revenue Recognized
DeferredRevenueRecognized
601305 usd
CY2020Q1 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P3Y
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
165000 usd
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
165000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
0 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
14000 usd
CY2020Q1 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0325 pure
CY2024Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2023Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0 usd
CY2024Q3 MPAD Gain On Sale Of Manufacturing Facility
GainOnSaleOfManufacturingFacility
706000 usd
CY2024Q3 MPAD Sale Of Manufacturing Facility
SaleOfManufacturingFacility
444000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zlJJUMgSMVX2" style="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_869_z5VBqfGnnoja">Use of Estimates</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b></b></p>
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
156000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
156000 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
156000 usd
CY2024Q3 MPAD Fair Value Financial Assets Liabilities Recurring Basis
FairValueFinancialAssetsLiabilitiesRecurringBasis
0 usd
CY2023Q4 MPAD Fair Value Financial Assets Liabilities Recurring Basis
FairValueFinancialAssetsLiabilitiesRecurringBasis
0 usd
CY2024Q3 MPAD Fair Value Non Financial Assets Non Recurring Basis
FairValueNonFinancialAssetsNonRecurringBasis
0 usd
CY2023Q4 MPAD Fair Value Non Financial Assets Non Recurring Basis
FairValueNonFinancialAssetsNonRecurringBasis
0 usd
CY2024Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
0 usd
us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2025-04-23
CY2024Q3 us-gaap Notes Payable
NotesPayable
15567000 usd
CY2024Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
122000 usd
CY2024Q3 MPAD Net Debt
NetDebt
15445000 usd
CY2024Q3 us-gaap Debt Current
DebtCurrent
443000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
15002000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
109000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
447000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
463000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
478000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
495000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
13575000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
15567000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2578315 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2578315 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2578315 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2578315 shares
CY2024Q3 MPAD Restricted Stock Units
RestrictedStockUnits
73587 shares
CY2023Q3 MPAD Restricted Stock Units
RestrictedStockUnits
35650 shares
MPAD Restricted Stock Units
RestrictedStockUnits
73587 shares
MPAD Restricted Stock Units
RestrictedStockUnits
35650 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2651902 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2613965 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2651902 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2613965 shares
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2023-12-05
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2024-01-10
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2024-02-09
us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2022-12-07
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.10
us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2023-01-11
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2023-02-10
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
153000 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
20000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
231000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
59000 usd
CY2024Q3 MPAD Stockbased Unvested Compensation Expense For First Year
StockbasedUnvestedCompensationExpenseForFirstYear
78000 usd
CY2024Q3 MPAD Stockbased Unvested Compensation Expense For Second Year
StockbasedUnvestedCompensationExpenseForSecondYear
309000 usd
CY2024Q3 MPAD Stockbased Unvested Compensation Expense For Third Year
StockbasedUnvestedCompensationExpenseForThirdYear
153000 usd
CY2024Q3 MPAD Stockbased Unvested Compensation Expense
StockbasedUnvestedCompensationExpense
540000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001214659-24-017291-index.html Edgar Link pending
0001214659-24-017291.txt Edgar Link pending
0001214659-24-017291-xbrl.zip Edgar Link pending
ex31_1.htm Edgar Link pending
ex31_2.htm Edgar Link pending
ex32_1.htm Edgar Link pending
ex32_2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mpad-20240824.xsd Edgar Link pending
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report.css Edgar Link pending
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v10724310q.htm Edgar Link pending
v10724310q_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable
mpad-20240824_pre.xml Edgar Link unprocessable
mpad-20240824_cal.xml Edgar Link unprocessable
mpad-20240824_def.xml Edgar Link unprocessable
mpad-20240824_lab.xml Edgar Link unprocessable