2021 Q3 Form 10-K Financial Statement

#000156276221000364 Filed on October 21, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 2020 Q3
Revenue $909.6M $3.620B $810.6M
YoY Change 12.22% 8.73% 1.16%
Cost Of Revenue $748.5M $2.975B $670.9M
YoY Change 11.56% 7.23% 1.08%
Gross Profit $161.1M $644.5M $139.7M
YoY Change 15.36% 16.26% 1.56%
Gross Profit Margin 17.71% 17.81% 17.23%
Selling, General & Admin $128.2M $485.5M $110.5M
YoY Change 16.03% 12.51% 5.04%
% of Gross Profit 79.57% 75.32% 79.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.63M $64.98M $16.30M
YoY Change 2.04% 6.14% 11.64%
% of Gross Profit 10.32% 10.08% 11.67%
Operating Expenses $128.2M $485.5M $110.5M
YoY Change 16.03% 12.51% 5.04%
Operating Profit $32.92M $158.0M $29.18M
YoY Change 12.82% 29.03% -9.76%
Interest Expense -$828.0K $7.210M -$1.900M
YoY Change -56.42% -5.44% 216.67%
% of Operating Profit -2.52% 4.56% -6.51%
Other Income/Expense, Net -$1.471M -$5.603M $1.000M
YoY Change -247.1% 571.82% 150.0%
Pretax Income $30.16M $33.82M $28.10M
YoY Change 7.34% 36.52% -11.64%
Income Tax $10.70M $48.97M $7.900M
% Of Pretax Income 35.49% 144.8% 28.11%
Net Earnings $19.46M $97.96M $20.08M
YoY Change -3.06% 25.42% -2.89%
Net Earnings / Revenue 2.14% 2.71% 2.48%
Basic Earnings Per Share $3.18 $0.65
Diluted Earnings Per Share $639.7K $3.18 $0.65
COMMON SHARES
Basic Shares Outstanding 30.40M
Diluted Shares Outstanding 30.40M

Balance Sheet

Concept 2021 Q3 2021 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $252.3M $252.3M $346.0M
YoY Change -27.08% -27.08% 189.06%
Cash & Equivalents $202.1M $202.1M $299.5M
Short-Term Investments $50.23M $50.23M $46.50M
Other Short-Term Assets $28.18M $28.18M $17.70M
YoY Change 59.19% 59.19% -13.66%
Inventory $389.7M $389.7M $309.5M
Prepaid Expenses
Receivables $12.36M $12.36M $13.20M
Other Receivables $14.66M $14.66M $12.60M
Total Short-Term Assets $697.2M $697.2M $699.0M
YoY Change -0.26% -0.26% 42.1%
LONG-TERM ASSETS
Property, Plant & Equipment $730.2M $853.9M $692.3M
YoY Change 5.48% 5.18% 3.15%
Goodwill $45.10M $45.21M
YoY Change -0.25% -1.94%
Intangibles
YoY Change
Long-Term Investments $10.54M $10.54M $10.60M
YoY Change -0.55% -0.53% -0.89%
Other Assets $57.33M $44.02M $54.26M
YoY Change 5.66% 29.08% 20.61%
Total Long-Term Assets $1.009B $1.009B $957.8M
YoY Change 5.3% 5.3% 19.06%
TOTAL ASSETS
Total Short-Term Assets $697.2M $697.2M $699.0M
Total Long-Term Assets $1.009B $1.009B $957.8M
Total Assets $1.706B $1.706B $1.657B
YoY Change 2.96% 2.96% 27.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $388.8M $388.8M $373.2M
YoY Change 4.19% 4.18% 30.38%
Accrued Expenses $90.16M $90.16M $79.30M
YoY Change 13.69% 13.69% 37.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $65.14M
YoY Change -100.0% -100.0% 763.97%
Long-Term Debt Due $19.40M $19.40M $19.44M
YoY Change -0.22% -0.03% -24.88%
Total Short-Term Liabilities $533.6M $533.6M $568.3M
YoY Change -6.11% -6.11% 39.47%
LONG-TERM LIABILITIES
Long-Term Debt $110.1M $110.1M $112.6M
YoY Change -2.22% -2.21% 76.75%
Other Long-Term Liabilities $10.93M $144.3M $12.18M
YoY Change -10.28% 2.01% 40.26%
Total Long-Term Liabilities $121.0M $254.5M $124.8M
YoY Change -3.01% 0.14% 72.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $533.6M $533.6M $568.3M
Total Long-Term Liabilities $121.0M $254.5M $124.8M
Total Liabilities $789.6M $790.4M $824.1M
YoY Change -4.19% -4.2% 65.44%
SHAREHOLDERS EQUITY
Retained Earnings $658.9M $582.5M
YoY Change 13.12% 10.78%
Common Stock $465.0M $454.5M
YoY Change 2.32% 2.57%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.08M $28.41M
YoY Change -8.17% -26.57%
Treasury Stock Shares $712.7K $746.9K
Shareholders Equity $915.3M $915.3M $831.7M
YoY Change
Total Liabilities & Shareholders Equity $1.706B $1.706B $1.657B
YoY Change 2.96% 2.96% 27.8%

Cashflow Statement

Concept 2021 Q3 2021 2020 Q3
OPERATING ACTIVITIES
Net Income $19.46M $97.96M $20.08M
YoY Change -3.06% 25.42% -2.89%
Depreciation, Depletion And Amortization $16.63M $64.98M $16.30M
YoY Change 2.04% 6.14% 11.64%
Cash From Operating Activities $47.20M $127.2M $85.20M
YoY Change -44.6% -50.95% 48.69%
INVESTING ACTIVITIES
Capital Expenditures -$39.82M $113.2M -$10.60M
YoY Change 275.7% 12.81% -80.26%
Acquisitions
YoY Change
Other Investing Activities $17.09M -$3.547M -$6.600M
YoY Change -359.0% -88.52%
Cash From Investing Activities -$22.73M -$116.7M -$17.20M
YoY Change 32.15% -11.04% -67.97%
FINANCING ACTIVITIES
Cash Dividend Paid $21.99M
YoY Change 2.14%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $19.99M
YoY Change 31.85%
Cash From Financing Activities -6.181M -95.14M -25.90M
YoY Change -76.14% -225.9% 146.67%
NET CHANGE
Cash From Operating Activities 47.20M 127.2M 85.20M
Cash From Investing Activities -22.73M -116.7M -17.20M
Cash From Financing Activities -6.181M -95.14M -25.90M
Net Change In Cash 18.29M -88.29M 42.10M
YoY Change -56.56% -144.7% -710.14%
FREE CASH FLOW
Cash From Operating Activities $47.20M $127.2M $85.20M
Capital Expenditures -$39.82M $113.2M -$10.60M
Free Cash Flow $87.02M $13.99M $95.80M
YoY Change -9.16% -91.2% -13.69%

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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTax
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ProfitLoss
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ProfitLoss
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ProfitLoss
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ProceedsFromSaleOfPropertyPlantAndEquipment
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ProceedsFromSaleOfPropertyPlantAndEquipment
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<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Use of Estimates</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> The novel coronavirus (COVID-19) pandemic continues to significantly impact the economies of the countries where the Company operates due to elevated infection rates and government restrictions. The Company has assessed the impact that COVID-19 has had on our estimates, assumptions and accounting policies and made additional disclosures, if and as necessary.</span>
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2404000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1373000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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205000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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204000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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204000
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7762000
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3173000
CY2020Q3 us-gaap Value Added Tax Receivable Current
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1749000
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28437000
CY2020Q3 us-gaap Value Added Tax Receivable Noncurrent
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25851000
CY2021Q3 us-gaap Value Added Tax Receivable
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31610000
CY2020Q3 us-gaap Value Added Tax Receivable
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11491000
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18872000
CY2020Q3 us-gaap Income Taxes Receivable Noncurrent
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20116000
CY2021Q3 us-gaap Income Tax Receivable
IncomeTaxReceivable
30363000
CY2020Q3 us-gaap Income Tax Receivable
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31060000
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OtherAssetImpairmentCharges
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CY2021 us-gaap Other Asset Impairment Charges
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-1370000
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-1476000
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13
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75
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500
CY2021 psmt Platinum Membership Rebate
PlatinumMembershipRebate
0.02
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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2404000
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2410000
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2404000
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54958000
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30195000
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2282000
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2190000
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1282000
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77267000
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30259000
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3.18
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2.55
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2.40
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747000
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RestrictedStockUnitExpense
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CY2020 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2019 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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16127000
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193971000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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170518000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
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75.02
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17478000
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10914000
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12302000
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62282
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56503
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
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75462
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5542000
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3651000
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4604000
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116040000
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111110000
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24771000
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41168000
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40553000
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