$SGMA
SIGMATRON INTERNATIONAL INC

2019 Q1 Form 10-Q Financial Statement

#000091535819000003 Filed on March 15, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q2 2018 Q1
Revenue $68.85M $68.21M $65.73M
YoY Change 4.74% 3.58% 5.75%
Cost Of Revenue $63.32M $61.37M $59.84M
YoY Change 5.83% 5.88% 5.94%
Gross Profit $5.529M $6.845M $5.897M
YoY Change -6.24% -13.35% 3.7%
Gross Profit Margin 8.03% 10.03% 8.97%
Selling, General & Admin $5.540M $5.900M $5.638M
YoY Change -1.74% 4.61% 5.38%
% of Gross Profit 100.19% 86.19% 95.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.330M $1.390M $1.390M
YoY Change -4.32% 29.91% 1.46%
% of Gross Profit 24.05% 20.31% 23.57%
Operating Expenses $5.540M $8.410M $5.638M
YoY Change -1.74% 49.11% 5.38%
Operating Profit -$10.71K -$1.565M $259.7K
YoY Change -104.13% -169.27% -22.94%
Interest Expense $627.1K -$460.0K $423.6K
YoY Change 48.04% 35.29% -256.88%
% of Operating Profit 163.13%
Other Income/Expense, Net $36.64K $20.00K $48.05K
YoY Change -23.75% -91.67% 60.17%
Pretax Income -$601.1K -$5.919M -$115.9K
YoY Change 418.79% -374.63% -230.14%
Income Tax -$5.607K -$2.030M -$147.2K
% Of Pretax Income
Net Earnings -$595.5K -$4.392M $31.34K
YoY Change -2000.33% -448.59% -162.68%
Net Earnings / Revenue -0.86% -6.44% 0.05%
Basic Earnings Per Share -$0.14 -$1.04 $0.01
Diluted Earnings Per Share -$0.14 -$1.04 $0.01
COMMON SHARES
Basic Shares Outstanding 4.230M 4.215M 4.210M
Diluted Shares Outstanding 4.230M 4.215M 4.357M

Balance Sheet

Concept 2019 Q1 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.000M $1.700M $2.500M
YoY Change -20.0% -51.43% -19.35%
Cash & Equivalents $2.026M $1.722M $2.543M
Short-Term Investments
Other Short-Term Assets $2.300M $1.900M $2.400M
YoY Change -4.17% -36.67% 4.35%
Inventory $95.42M $86.93M $86.30M
Prepaid Expenses
Receivables $29.60M $26.64M $26.70M
Other Receivables $3.300M $1.136M $4.000M
Total Short-Term Assets $132.6M $120.0M $121.9M
YoY Change 8.78% 10.12% 26.19%
LONG-TERM ASSETS
Property, Plant & Equipment $33.70M $35.29M $35.70M
YoY Change -5.6% 6.94% 6.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.900M $1.713M $1.400M
YoY Change 35.71% 0.79% 16.67%
Total Long-Term Assets $38.50M $41.20M $44.20M
YoY Change -12.9% -2.37% 4.25%
TOTAL ASSETS
Total Short-Term Assets $132.6M $120.0M $121.9M
Total Long-Term Assets $38.50M $41.20M $44.20M
Total Assets $171.1M $161.2M $166.1M
YoY Change 3.01% 6.63% 19.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.70M $49.30M $46.30M
YoY Change 15.98% 9.8% 22.16%
Accrued Expenses $2.569M $2.931M $6.900M
YoY Change -62.77% -63.82% 15.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $691.7K $655.2K $2.900M
YoY Change -76.15% -68.8% 61.11%
Total Short-Term Liabilities $63.14M $59.38M $56.60M
YoY Change 11.55% 6.8% 21.72%
LONG-TERM LIABILITIES
Long-Term Debt $45.54M $36.78M $43.30M
YoY Change 5.18% 20.21% 49.31%
Other Long-Term Liabilities $1.120M $1.131M $2.000M
YoY Change -44.0% -37.19% 0.0%
Total Long-Term Liabilities $50.67M $43.04M $45.30M
YoY Change 11.86% 32.84% 46.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.14M $59.38M $56.60M
Total Long-Term Liabilities $50.67M $43.04M $45.30M
Total Liabilities $113.8M $102.4M $102.9M
YoY Change 10.6% 14.69% 31.08%
SHAREHOLDERS EQUITY
Retained Earnings $33.79M $35.64M
YoY Change
Common Stock $23.49M $23.17M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.28M $58.81M $63.20M
YoY Change
Total Liabilities & Shareholders Equity $171.1M $161.2M $166.1M
YoY Change 3.01% 6.63% 19.5%

Cashflow Statement

Concept 2019 Q1 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$595.5K -$4.392M $31.34K
YoY Change -2000.33% -448.59% -162.68%
Depreciation, Depletion And Amortization $1.330M $1.390M $1.390M
YoY Change -4.32% 29.91% 1.46%
Cash From Operating Activities -$990.0K $2.770M -$4.680M
YoY Change -78.85% -401.09% -314.68%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$80.00K -$420.0K
YoY Change -80.95% -73.33% -67.94%
Acquisitions
YoY Change
Other Investing Activities $0.00 $250.0K
YoY Change -100.0%
Cash From Investing Activities -$80.00K -$330.0K -$170.0K
YoY Change -52.94% 10.0% -87.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.370M -3.260M 4.950M
YoY Change -72.32% -301.23% -550.0%
NET CHANGE
Cash From Operating Activities -990.0K 2.770M -4.680M
Cash From Investing Activities -80.00K -330.0K -170.0K
Cash From Financing Activities 1.370M -3.260M 4.950M
Net Change In Cash 300.0K -820.0K 100.0K
YoY Change 200.0% -305.0% -143.48%
FREE CASH FLOW
Cash From Operating Activities -$990.0K $2.770M -$4.680M
Capital Expenditures -$80.00K -$80.00K -$420.0K
Free Cash Flow -$910.0K $2.850M -$4.260M
YoY Change -78.64% -559.68% -222.06%

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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
139554
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
36638
CY2018Q2 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
2117500
us-gaap Operating Income Loss
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2565863
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
259660
us-gaap Operating Income Loss
OperatingIncomeLoss
721159
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-10711
CY2018Q2 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
600000
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1713481
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1130557
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1120062
CY2018Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1135810
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
151926
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
51198
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3651304
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
1605256
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1948748
us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
251395
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
96017
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15613799
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
14963270
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
7000000
CY2018 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
350000
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5539831
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17291102
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
35288997
us-gaap Repayments Of Lines Of Credit
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7345462
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
5856146
us-gaap Repayments Of Long Term Capital Lease Obligations
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1536508
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1783543
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3671000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
210000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
630000
us-gaap Restricted Stock Expense
RestrictedStockExpense
152434
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
35636038
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
33789964
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
217267198
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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68852050
us-gaap Revenues
Revenues
209917090
CY2018Q1 us-gaap Revenues
Revenues
65733723
us-gaap Revenues
Revenues
217267198
CY2019Q1 us-gaap Revenues
Revenues
68852050
us-gaap Selling General And Administrative Expense
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17192099
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5637680
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
117914
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
347
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
465232
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
58809951
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
57282923
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
83659
CY2018Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
166612
CY2019Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
166612
us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-style:italic;font-size:11pt;">Management Estimates and Uncertainties </font><font style="display: inline;font-size:11pt;">- &nbsp;</font><font style="display: inline;color:#000000;font-size:11pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#x201C;GAAP&#x201D;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;Significant estimates made in preparing the consolidated financial statements include depreciation and amortization periods, the allowance for doubtful accounts, reserves for inventory, lower of cost or market adjustment for inventory, contingent consideration, deferred taxes, uncertain tax positions, valuation allowance for deferred taxes and valuation of long-lived assets.&nbsp;&nbsp;Actual results could materially differ from these estimates.</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4325197
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4356509
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4227891
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4230008
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4202331
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4209566
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4227891
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4230008

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