2024 Q3 Form 10-Q Financial Statement
#000008474824000053 Filed on July 26, 2024
Income Statement
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| Revenue | $210.3M | $214.2M |
| YoY Change | -8.23% | -7.2% |
| Cost Of Revenue | $136.2M | $141.1M |
| YoY Change | -8.46% | -6.68% |
| Gross Profit | $74.10M | $73.10M |
| YoY Change | -7.79% | -8.19% |
| Gross Profit Margin | 35.24% | 34.13% |
| Selling, General & Admin | $45.10M | $50.90M |
| YoY Change | 1.72% | 10.35% |
| % of Gross Profit | 60.86% | 69.63% |
| Research & Development | $8.100M | $9.500M |
| YoY Change | 3.49% | 17.31% |
| % of Gross Profit | 10.93% | 13.0% |
| Depreciation & Amortization | $12.70M | $12.30M |
| YoY Change | 10.95% | -10.37% |
| % of Gross Profit | 17.14% | 16.83% |
| Operating Expenses | $53.20M | $60.40M |
| YoY Change | 1.99% | 11.39% |
| Operating Profit | $14.60M | $11.30M |
| YoY Change | -46.17% | -59.49% |
| Interest Expense | $0.00 | -$200.0K |
| YoY Change | -100.0% | -92.95% |
| % of Operating Profit | 0.0% | -1.77% |
| Other Income/Expense, Net | -$1.500M | $300.0K |
| YoY Change | -297.11% | -139.63% |
| Pretax Income | $13.50M | $11.90M |
| YoY Change | -48.47% | -52.67% |
| Income Tax | $2.800M | $3.800M |
| % Of Pretax Income | 20.74% | 31.93% |
| Net Earnings | $10.70M | $8.100M |
| YoY Change | -43.79% | -54.66% |
| Net Earnings / Revenue | 5.09% | 3.78% |
| Basic Earnings Per Share | $0.58 | $0.44 |
| Diluted Earnings Per Share | $0.58 | $0.44 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 18.60M shares | 18.66M shares |
| Diluted Shares Outstanding | 18.60M shares | 18.60M shares |
Balance Sheet
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $146.4M | $119.9M |
| YoY Change | 15.77% | -15.24% |
| Cash & Equivalents | $146.4M | $119.9M |
| Short-Term Investments | ||
| Other Short-Term Assets | $31.70M | $35.50M |
| YoY Change | -0.39% | 1.07% |
| Inventory | $154.4M | $150.8M |
| Prepaid Expenses | ||
| Receivables | $156.3M | $160.0M |
| Other Receivables | $4.300M | $4.300M |
| Total Short-Term Assets | $521.2M | $502.1M |
| YoY Change | -6.06% | -13.84% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $406.8M | $383.3M |
| YoY Change | 14.86% | 7.2% |
| Goodwill | $365.7M | $356.3M |
| YoY Change | 3.83% | -0.65% |
| Intangibles | $117.7M | $117.2M |
| YoY Change | -5.46% | -10.23% |
| Long-Term Investments | $9.700M | $9.700M |
| YoY Change | -6.24% | -23.98% |
| Other Assets | $8.700M | $8.200M |
| YoY Change | -48.66% | -48.06% |
| Total Long-Term Assets | $1.019B | $985.0M |
| YoY Change | 5.46% | -0.06% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $521.2M | $502.1M |
| Total Long-Term Assets | $1.019B | $985.0M |
| Total Assets | $1.540B | $1.487B |
| YoY Change | 1.26% | -5.18% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $47.20M | $49.90M |
| YoY Change | 0.74% | -2.6% |
| Accrued Expenses | $63.20M | $53.50M |
| YoY Change | 10.97% | -1.67% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $122.5M | $116.5M |
| YoY Change | 5.48% | -1.75% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% |
| Other Long-Term Liabilities | $10.10M | $9.800M |
| YoY Change | -44.91% | -44.23% |
| Total Long-Term Liabilities | $10.10M | $9.800M |
| YoY Change | -89.73% | -93.36% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $122.5M | $116.5M |
| Total Long-Term Liabilities | $10.10M | $9.800M |
| Total Liabilities | $132.6M | $126.3M |
| YoY Change | -38.17% | -52.55% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $1.182B | $1.171B |
| YoY Change | 4.4% | 5.22% |
| Common Stock | $174.3M | $171.0M |
| YoY Change | 3.99% | 4.37% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $1.301B | $1.261B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.540B | $1.487B |
| YoY Change | 1.26% | -5.18% |
Cashflow Statement
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $10.70M | $8.100M |
| YoY Change | -43.79% | -54.66% |
| Depreciation, Depletion And Amortization | $12.70M | $12.30M |
| YoY Change | 10.95% | -10.37% |
| Cash From Operating Activities | $42.40M | $22.90M |
| YoY Change | 1.0% | 45.8% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $17.20M | $14.10M |
| YoY Change | 158.34% | 22.92% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% |
| Cash From Investing Activities | -$17.20M | -$14.10M |
| YoY Change | 198.66% | 53.83% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -200.0K | -6.900M |
| YoY Change | -99.6% | -88.52% |
| NET CHANGE | ||
| Cash From Operating Activities | 42.40M | 22.90M |
| Cash From Investing Activities | -17.20M | -14.10M |
| Cash From Financing Activities | -200.0K | -6.900M |
| Net Change In Cash | 25.00M | 1.900M |
| YoY Change | -279.86% | -103.55% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $42.40M | $22.90M |
| Capital Expenditures | $17.20M | $14.10M |
| Free Cash Flow | $25.20M | $8.800M |
| YoY Change | -28.66% | 107.79% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
18600000 | shares |
| CY2024Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
18600000 | shares |
| CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1260800000 | usd |
| CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1205600000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
15900000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
14400000 | usd | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
23600000 | usd | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
28400000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
8800000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7000000.0 | usd | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-8600000 | usd | |
| us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-8900000 | usd | |
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
800000 | usd | |
| us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
900000 | usd | |
| us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
1200000 | usd | |
| us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
1500000 | usd | |
| CY2024Q2 | us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
1400000 | usd |
| CY2023Q2 | us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
3900000 | usd |
| us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
1500000 | usd | |
| us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
14400000 | usd | |
| CY2024Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
0 | usd |
| CY2023Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
200000 | usd |
| us-gaap |
Professional Fees
ProfessionalFees
|
0 | usd | |
| us-gaap |
Professional Fees
ProfessionalFees
|
500000 | usd | |
| CY2024Q2 | us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
0 | usd |
| CY2023Q2 | us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
6200000 | usd |
| us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
0 | usd | |
| us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
6700000 | usd | |
| CY2024Q2 | us-gaap |
Insured Event Gain Loss
InsuredEventGainLoss
|
0 | usd |
| CY2023Q2 | us-gaap |
Insured Event Gain Loss
InsuredEventGainLoss
|
6000000.0 | usd |
| us-gaap |
Insured Event Gain Loss
InsuredEventGainLoss
|
0 | usd | |
| us-gaap |
Insured Event Gain Loss
InsuredEventGainLoss
|
6200000 | usd | |
| CY2024Q2 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | usd |
| CY2023Q2 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
500000 | usd |
| us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | usd | |
| us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
500000 | usd | |
| CY2024Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
0 | usd |
| CY2023Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
6500000 | usd |
| us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
0 | usd | |
| us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
6700000 | usd | |
| CY2023Q2 | us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
6200000 | usd |
| us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
6700000 | usd | |
| CY2023Q2 | us-gaap |
Professional Fees
ProfessionalFees
|
200000 | usd |
| us-gaap |
Professional Fees
ProfessionalFees
|
500000 | usd | |
| CY2024Q2 | us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
0 | usd |
| CY2023Q2 | us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
3000000.0 | usd |
| us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
500000 | usd | |
| us-gaap |
Interest Expense Long Term Debt
InterestExpenseLongTermDebt
|
6400000 | usd | |
| CY2024Q2 | us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
300000 | usd |
| CY2023Q2 | us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
0 | usd |
| us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
600000 | usd | |
| us-gaap |
Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
|
300000 | usd | |
| CY2024Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
100000 | usd |
| CY2023Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
100000 | usd |
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
200000 | usd | |
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
400000 | usd | |
| CY2024Q2 | us-gaap |
Interest Income Other
InterestIncomeOther
|
200000 | usd |
| CY2023Q2 | us-gaap |
Interest Income Other
InterestIncomeOther
|
300000 | usd |
| us-gaap |
Interest Income Other
InterestIncomeOther
|
300000 | usd | |
| us-gaap |
Interest Income Other
InterestIncomeOther
|
800000 | usd | |
| CY2024Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-200000 | usd |
| CY2023Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-2800000 | usd |
| us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-1000000.0 | usd | |
| us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-6300000 | usd | |
| CY2024Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.319 | |
| CY2023Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.289 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.323 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.332 | ||
| CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false |
