2022 Q1 Form 10-Q Financial Statement

#000004587622000052 Filed on May 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $452.8M $447.3M
YoY Change 1.24% 12.14%
Cost Of Revenue $377.0M $421.1M
YoY Change -10.47% 33.05%
Gross Profit $75.78M $89.90M
YoY Change -15.71% 44.3%
Gross Profit Margin 16.74% 20.1%
Selling, General & Admin $69.15M $71.61M
YoY Change -3.44% -1.22%
% of Gross Profit 91.26% 79.66%
Research & Development $56.00K $157.0K
YoY Change -64.33% -87.54%
% of Gross Profit 0.07% 0.17%
Depreciation & Amortization $33.60M $32.75M
YoY Change 2.61% -9.74%
% of Gross Profit 44.35% 36.43%
Operating Expenses $69.21M $71.77M
YoY Change -3.57% -2.7%
Operating Profit $7.748M $19.12M
YoY Change -59.47% 563.59%
Interest Expense $15.09M $16.26M
YoY Change -7.16% 28.52%
% of Operating Profit 194.79% 85.03%
Other Income/Expense, Net $2.410M $4.000M
YoY Change -39.75% 150.0%
Pretax Income -$4.822M $2.085M
YoY Change -331.27% -124.6%
Income Tax $1.221M $2.101M
% Of Pretax Income 100.77%
Net Earnings -$39.84M $135.0K
YoY Change -29610.37% 35.0%
Net Earnings / Revenue -8.8% 0.03%
Basic Earnings Per Share -$0.50 $0.00
Diluted Earnings Per Share -$0.50 $0.00
COMMON SHARES
Basic Shares Outstanding 79.36M shares 79.09M shares
Diluted Shares Outstanding 79.36M shares 79.09M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.22M $79.30M
YoY Change 7.46% 19.25%
Cash & Equivalents $85.22M $79.31M
Short-Term Investments
Other Short-Term Assets $13.10M $14.22M
YoY Change -7.88% -73.51%
Inventory $76.85M $171.6M
Prepaid Expenses $32.39M $55.23M
Receivables $385.9M $417.8M
Other Receivables $26.13M $33.00M
Total Short-Term Assets $892.5M $846.3M
YoY Change 5.45% 24.32%
LONG-TERM ASSETS
Property, Plant & Equipment $654.8M $655.5M
YoY Change -0.11% 22.9%
Goodwill $878.9M $900.3M
YoY Change -2.37% 23.69%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.81M $57.73M
YoY Change -11.99% 14.38%
Total Long-Term Assets $2.159B $2.144B
YoY Change 0.7% 28.66%
TOTAL ASSETS
Total Short-Term Assets $892.5M $846.3M
Total Long-Term Assets $2.159B $2.144B
Total Assets $3.051B $2.990B
YoY Change 2.04% 27.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $189.9M $210.0M
YoY Change -9.57% 15.53%
Accrued Expenses $66.83M $66.70M
YoY Change 0.2% 45.32%
Deferred Revenue $41.09M
YoY Change -14.08%
Short-Term Debt $7.292M $5.062M
YoY Change 44.05% 5.02%
Long-Term Debt Due $17.38M $6.720M
YoY Change 158.62% 143.65%
Total Short-Term Liabilities $593.6M $518.7M
YoY Change 14.43% 15.08%
LONG-TERM LIABILITIES
Long-Term Debt $1.422B $1.334B
YoY Change 6.6% 68.98%
Other Long-Term Liabilities $48.42M $56.87M
YoY Change -14.85% -26.21%
Total Long-Term Liabilities $1.471B $1.391B
YoY Change 5.72% 60.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $593.6M $518.7M
Total Long-Term Liabilities $1.471B $1.391B
Total Liabilities $2.270B $2.274B
YoY Change -0.15% 43.16%
SHAREHOLDERS EQUITY
Retained Earnings $1.755B $1.798B
YoY Change -2.4% -1.44%
Common Stock $364.0M $351.7M
YoY Change 3.51% 1.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $848.3M $846.2M
YoY Change 0.24% 0.38%
Treasury Stock Shares
Shareholders Equity $722.8M $660.0M
YoY Change
Total Liabilities & Shareholders Equity $3.051B $2.990B
YoY Change 2.04% 27.4%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$39.84M $135.0K
YoY Change -29610.37% 35.0%
Depreciation, Depletion And Amortization $33.60M $32.75M
YoY Change 2.61% -9.74%
Cash From Operating Activities -$34.32M -$23.17M
YoY Change 48.08% 100.88%
INVESTING ACTIVITIES
Capital Expenditures $32.96M $27.38M
YoY Change 20.36% -1.84%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$124.0K -$46.00K
YoY Change 169.57%
Cash From Investing Activities -$26.91M -$24.97M
YoY Change 7.79% -234.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.566M $374.5M
YoY Change -99.31% 867.55%
Cash From Financing Activities $63.20M $51.51M
YoY Change 22.7% 302.59%
NET CHANGE
Cash From Operating Activities -$34.32M -$23.17M
Cash From Investing Activities -$26.91M -$24.97M
Cash From Financing Activities $63.20M $51.51M
Net Change In Cash $2.425M $2.656M
YoY Change -8.7% -70.67%
FREE CASH FLOW
Cash From Operating Activities -$34.32M -$23.17M
Capital Expenditures $32.96M $27.38M
Free Cash Flow -$67.27M -$50.56M
YoY Change 33.07% 28.21%

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364000 USD
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4610000 USD
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19070000 USD
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400000 USD
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6900000 USD
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Penaltiesperday
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CY2019Q4 hsc Penalties
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CY2019Q4 hsc Penalties
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CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-1565000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79363000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79088000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79363000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79088000 shares
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.09
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.02
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.09
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.02
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
4273000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
4376000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2124000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
7622000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
300000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
900000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
1009000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
18000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
462000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
815000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
15092000 USD
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-32506000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
16256000 USD
CY2021Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
1700000 USD
CY2022Q1 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
600000 USD
CY2021Q1 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
3300000 USD
CY2022Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1423700000 USD
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1394200000 USD
CY2022Q1 us-gaap Revenues
Revenues
452797000 USD
CY2021Q1 us-gaap Revenues
Revenues
447265000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7748000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
19118000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
33604000 USD
CY2021Q1 hsc Depreciation Excluding Industrial Segment
DepreciationExcludingIndustrialSegment
31537000 USD
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
8586000 USD
CY2021Q1 hsc Amortization Excluding Discontinued Operations
AmortizationExcludingDiscontinuedOperations
8882000 USD
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
32452000 USD
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
27017000 USD
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7748000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
19118000 USD
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
644000 USD
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
547000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
15092000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
16256000 USD
CY2022Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
532000 USD
CY2021Q1 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
5258000 USD
CY2022Q1 us-gaap Pension Expense Reversal Of Expense Noncash
PensionExpenseReversalOfExpenseNoncash
-2410000 USD
CY2021Q1 us-gaap Pension Expense Reversal Of Expense Noncash
PensionExpenseReversalOfExpenseNoncash
-3934000 USD
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4822000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2085000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
452797000 USD
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
452797000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
447265000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
447265000 USD
CY2022Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
3700000 USD
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
3100000 USD
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4000000 USD
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4100000 USD
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3000000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2000000 USD
CY2022Q1 us-gaap Severance Costs1
SeveranceCosts1
-308000 USD
CY2021Q1 us-gaap Severance Costs1
SeveranceCosts1
510000 USD
CY2022Q1 hsc Business Exit Costs Excluding Severance
BusinessExitCostsExcludingSeverance
581000 USD
CY2021Q1 hsc Business Exit Costs Excluding Severance
BusinessExitCostsExcludingSeverance
238000 USD
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
59000 USD
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
22000 USD
CY2022Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1812000 USD
CY2021Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1693000 USD
CY2022Q1 hsc Other Miscellaneous Income Expense
OtherMiscellaneousIncomeExpense
-301000 USD
CY2021Q1 hsc Other Miscellaneous Income Expense
OtherMiscellaneousIncomeExpense
68000 USD
CY2022Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
1179000 USD
CY2021Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
991000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-5057000 USD
CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-6286000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1229000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-1066000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2295000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
7136000 USD
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-4872000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
12008000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-482000 USD
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
12490000 USD

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