$NAII
NATURAL ALTERNATIVES INTERNATIONAL INC

2020 Q4 Form 10-Q Financial Statement

#000143774921002328 Filed on February 09, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $48.08M $29.10M $29.20M
YoY Change 65.22% -19.25% -20.08%
Cost Of Revenue $38.41M $24.04M $24.81M
YoY Change 59.76% -18.8% -15.52%
Gross Profit $9.674M $5.061M $4.384M
YoY Change 91.15% -21.36% -38.8%
Gross Profit Margin 20.12% 17.39% 15.02%
Selling, General & Admin $4.282M $4.363M $4.439M
YoY Change -1.86% 3.17% 0.0%
% of Gross Profit 44.26% 86.21% 101.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.190M $1.000M $972.0K
YoY Change 19.0% 23.46% 22.73%
% of Gross Profit 12.3% 19.76% 22.17%
Operating Expenses $4.282M $4.363M $4.439M
YoY Change -1.86% 3.17% 0.0%
Operating Profit $5.392M $698.0K -$55.00K
YoY Change 672.49% -68.37% -102.02%
Interest Expense -$800.0K -$120.0K $180.0K
YoY Change 566.67% -121.43% -61.7%
% of Operating Profit -14.84% -17.19%
Other Income/Expense, Net -$806.0K -$124.0K $177.0K
YoY Change 550.0% -122.84% -64.39%
Pretax Income $4.586M $574.0K $122.0K
YoY Change 698.95% -79.13% -96.21%
Income Tax $954.0K $98.00K $26.00K
% Of Pretax Income 20.8% 17.07% 21.31%
Net Earnings $3.632M $476.0K $96.00K
YoY Change 663.03% -78.18% -96.25%
Net Earnings / Revenue 7.55% 1.64% 0.33%
Basic Earnings Per Share $0.58 $0.07 $0.01
Diluted Earnings Per Share $0.57 $0.07 $0.01
COMMON SHARES
Basic Shares Outstanding 6.270M 6.795M 6.841M
Diluted Shares Outstanding 6.405M 6.886M 6.985M

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.60M $26.90M $28.50M
YoY Change 6.32% -11.22% 3.26%
Cash & Equivalents $28.63M $26.90M $28.50M
Short-Term Investments
Other Short-Term Assets $3.100M $3.500M $4.800M
YoY Change -11.43% -10.26% 54.84%
Inventory $34.47M $22.65M $24.84M
Prepaid Expenses
Receivables $17.06M $14.23M $13.75M
Other Receivables $200.0K $1.200M $1.000M
Total Short-Term Assets $83.42M $68.52M $73.05M
YoY Change 21.74% -3.69% 4.49%
LONG-TERM ASSETS
Property, Plant & Equipment $22.41M $20.61M $21.23M
YoY Change 8.71% 1.36% 10.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.397M $863.0K $814.0K
YoY Change 61.88% -35.84% -11.52%
Total Long-Term Assets $42.10M $41.00M $41.22M
YoY Change 2.69% 89.09% 104.07%
TOTAL ASSETS
Total Short-Term Assets $83.42M $68.52M $73.05M
Total Long-Term Assets $42.10M $41.00M $41.22M
Total Assets $125.5M $109.5M $114.3M
YoY Change 14.61% 17.98% 26.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.38M $5.437M $9.774M
YoY Change 127.64% -43.74% -2.88%
Accrued Expenses $2.809M $3.292M $2.421M
YoY Change -14.67% 95.26% 5.17%
Deferred Revenue
YoY Change
Short-Term Debt $10.00M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $32.69M $11.20M $14.94M
YoY Change 191.81% -23.4% -3.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.30M $21.30M $21.80M
YoY Change -4.69% 3313.46% 890.91%
Total Long-Term Liabilities $20.30M $21.30M $21.80M
YoY Change -4.69% 3313.46% 890.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.69M $11.20M $14.94M
Total Long-Term Liabilities $20.30M $21.30M $21.80M
Total Liabilities $53.03M $33.40M $37.83M
YoY Change 58.77% 88.71% 107.57%
SHAREHOLDERS EQUITY
Retained Earnings $62.07M $58.50M $57.80M
YoY Change 6.1% 5.26% 8.24%
Common Stock $88.00K $87.00K $87.00K
YoY Change 1.15% 2.35% 2.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.20M $9.287M $7.970M
YoY Change 63.7% 32.41% 20.94%
Treasury Stock Shares $2.523M $1.801M $1.643M
Shareholders Equity $72.49M $76.12M $77.41M
YoY Change
Total Liabilities & Shareholders Equity $125.5M $109.5M $114.3M
YoY Change 14.61% 17.98% 26.82%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $3.632M $476.0K $96.00K
YoY Change 663.03% -78.18% -96.25%
Depreciation, Depletion And Amortization $1.190M $1.000M $972.0K
YoY Change 19.0% 23.46% 22.73%
Cash From Operating Activities $4.570M $220.0K $4.593M
YoY Change 1977.27% -93.6% -3.22%
INVESTING ACTIVITIES
Capital Expenditures $3.034M $1.633M $1.118M
YoY Change 85.79% -187.8% 40.45%
Acquisitions
YoY Change
Other Investing Activities $0.00 $20.00K $0.00
YoY Change -100.0% -98.67% -100.0%
Cash From Investing Activities -$1.550M -$500.0K -$1.118M
YoY Change 210.0% 38.89% 43.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.00K
YoY Change -148.39%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.760M -1.310M -15.00K
YoY Change 34.35% 211.9% -148.39%
NET CHANGE
Cash From Operating Activities 4.570M 220.0K 4.593M
Cash From Investing Activities -1.550M -500.0K -1.118M
Cash From Financing Activities -1.760M -1.310M -15.00K
Net Change In Cash 1.260M -1.590M 3.460M
YoY Change -179.25% -159.77% -13.5%
FREE CASH FLOW
Cash From Operating Activities $4.570M $220.0K $4.593M
Capital Expenditures $3.034M $1.633M $1.118M
Free Cash Flow $1.536M -$1.413M $3.475M
YoY Change -208.7% -126.66% -12.03%

Facts In Submission

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NetCashProvidedByUsedInInvestingActivities
-3031000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1616000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4683000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4808000
us-gaap Net Income Loss
NetIncomeLoss
5890000
us-gaap Net Income Loss
NetIncomeLoss
572000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
3632000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-124000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1127000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
53000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
5392000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
698000
us-gaap Operating Income Loss
OperatingIncomeLoss
7477000
us-gaap Operating Income Loss
OperatingIncomeLoss
643000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17956000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18782000
CY2020Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
826000
CY2019Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
791000
us-gaap Operating Lease Payments
OperatingLeasePayments
1646000
us-gaap Operating Lease Payments
OperatingLeasePayments
1566000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17034000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18354000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0325
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0324
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y292D
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1397000
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1106000
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y73D
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
87809000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
58298000
CY2020Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-854000
CY2019Q4 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-903000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-1974000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-516000
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-15000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-12000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3501000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1332000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3034000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1633000
CY2020Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3034000
CY2019Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1633000
CY2020Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
734000
CY2020Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
696000
us-gaap Pension Expense
PensionExpense
38000
us-gaap Pension Expense
PensionExpense
9000
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3060000
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2275000
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
10000000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
64986000
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
61952000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22409000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21523000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
62071000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
56181000
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48083000
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
29103000
CY2019Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
CY2020Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
CY2020Q4 us-gaap Royalty Expense
RoyaltyExpense
100000
us-gaap Royalty Expense
RoyaltyExpense
300000
CY2019Q4 us-gaap Royalty Expense
RoyaltyExpense
200000
us-gaap Royalty Expense
RoyaltyExpense
400000
CY2020Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4282000
CY2019Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4363000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8202000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8802000
us-gaap Share Based Compensation
ShareBasedCompensation
698000
us-gaap Share Based Compensation
ShareBasedCompensation
892000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
30442
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
30442
CY2020Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
100000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
100000
CY2019Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
CY2019Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
CY2020Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
71131000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
72488000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
77405000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
76120000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
71375000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
76084000
us-gaap Tax Cuts And Jobs Act Of2017 Reclassification From Aoci To Retained Earnings Tax Effect
TaxCutsAndJobsActOf2017ReclassificationFromAociToRetainedEarningsTaxEffect
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2523254
CY2020Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2104305
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
15203000
CY2020Q2 us-gaap Treasury Stock Value
TreasuryStockValue
11702000
CY2020Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1758000
CY2019Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1317000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3501000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1332000
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0
CY2020Q4 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
0
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6405308
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6885934
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6438143
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6935580
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6270419
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6795269
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6344256
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6818249

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