$SGMA
SIGMATRON INTERNATIONAL INC

2019 Q4 Form 10-Q Financial Statement

#000091535819000018 Filed on December 11, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $74.86M $77.00M
YoY Change -2.79% 5.54%
Cost Of Revenue $67.73M $70.31M
YoY Change -3.67% 6.76%
Gross Profit $7.129M $6.694M
YoY Change 6.5% -5.76%
Gross Profit Margin 9.52% 8.69%
Selling, General & Admin $5.700M $5.817M
YoY Change -2.01% 3.1%
% of Gross Profit 79.95% 86.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.310M $1.350M
YoY Change -2.96% -2.88%
% of Gross Profit 18.37% 20.17%
Operating Expenses $5.700M $5.817M
YoY Change -2.01% 3.1%
Operating Profit $1.429M $876.9K
YoY Change 62.98% -39.99%
Interest Expense $462.8K $602.9K
YoY Change -23.24% 74.41%
% of Operating Profit 32.38% 68.75%
Other Income/Expense, Net $10.86K $128.0K
YoY Change -91.51% 257.33%
Pretax Income $977.3K $402.1K
YoY Change 143.08% -65.08%
Income Tax $316.1K $1.126M
% Of Pretax Income 32.35% 280.06%
Net Earnings $661.2K -$723.9K
YoY Change -191.33% -198.35%
Net Earnings / Revenue 0.88% -0.94%
Basic Earnings Per Share $0.15 -$0.18
Diluted Earnings Per Share $0.15 -$0.17
COMMON SHARES
Basic Shares Outstanding 4.243M 4.230M
Diluted Shares Outstanding 4.279M 4.230M

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.500M $1.700M
YoY Change 105.88% -29.17%
Cash & Equivalents $3.470M $1.729M
Short-Term Investments
Other Short-Term Assets $2.100M $1.700M
YoY Change 23.53% 0.0%
Inventory $71.42M $89.40M
Prepaid Expenses
Receivables $29.92M $33.95M
Other Receivables $694.5K $1.627M
Total Short-Term Assets $108.7M $130.0M
YoY Change -16.4% 13.27%
LONG-TERM ASSETS
Property, Plant & Equipment $32.02M $34.41M
YoY Change -6.94% -3.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.016M $1.679M
YoY Change 377.27% -1.21%
Total Long-Term Assets $42.95M $39.50M
YoY Change 8.73% -11.63%
TOTAL ASSETS
Total Short-Term Assets $108.7M $130.0M
Total Long-Term Assets $42.95M $39.50M
Total Assets $151.7M $169.5M
YoY Change -10.54% 6.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.00M $52.70M
YoY Change -33.59% 15.82%
Accrued Expenses $2.639M $2.076M
YoY Change 27.15% -70.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $691.7K $1.237M
YoY Change -44.1% -66.56%
Total Short-Term Liabilities $47.93M $63.68M
YoY Change -24.72% 11.71%
LONG-TERM LIABILITIES
Long-Term Debt $35.65M $42.97M
YoY Change -17.04% 18.05%
Other Long-Term Liabilities $1.227M $1.111M
YoY Change 10.44% -30.55%
Total Long-Term Liabilities $44.42M $48.18M
YoY Change -7.81% 26.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.93M $63.68M
Total Long-Term Liabilities $44.42M $48.18M
Total Liabilities $92.35M $111.9M
YoY Change -17.44% 16.15%
SHAREHOLDERS EQUITY
Retained Earnings $35.79M $34.39M
YoY Change 4.09%
Common Stock $23.52M $23.29M
YoY Change 0.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.31M $57.68M
YoY Change
Total Liabilities & Shareholders Equity $151.7M $169.5M
YoY Change -10.54% 6.29%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $661.2K -$723.9K
YoY Change -191.33% -198.35%
Depreciation, Depletion And Amortization $1.310M $1.350M
YoY Change -2.96% -2.88%
Cash From Operating Activities $7.320M -$450.0K
YoY Change -1726.67% -85.98%
INVESTING ACTIVITIES
Capital Expenditures $90.00K -$820.0K
YoY Change -110.98% -238.98%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $90.00K -$820.0K
YoY Change -110.98% -238.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.440M 1.190M
YoY Change -557.14% -61.61%
NET CHANGE
Cash From Operating Activities 7.320M -450.0K
Cash From Investing Activities 90.00K -820.0K
Cash From Financing Activities -5.440M 1.190M
Net Change In Cash 1.970M -80.00K
YoY Change -2562.5% -116.67%
FREE CASH FLOW
Cash From Operating Activities $7.320M -$450.0K
Capital Expenditures $90.00K -$820.0K
Free Cash Flow $7.230M $370.0K
YoY Change 1854.05% -109.74%

Facts In Submission

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us-gaap Lease Cost
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2019Q2 us-gaap Liabilities
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CY2019Q4 us-gaap Liabilities
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CY2019Q2 us-gaap Liabilities And Stockholders Equity
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CY2019Q2 us-gaap Liabilities Current
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CY2019Q4 us-gaap Liabilities Current
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CY2019Q4 us-gaap Liabilities Noncurrent
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CY2019Q2 us-gaap Long Term Debt
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CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2019Q2 us-gaap Long Term Debt Noncurrent
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CY2019Q4 us-gaap Long Term Debt Noncurrent
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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CY2019Q3 us-gaap Net Income Loss
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us-gaap Nonoperating Income Expense
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CY2018Q4 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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CY2019Q4 us-gaap Nonoperating Income Expense
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us-gaap Number Of Operating Segments
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1
us-gaap Operating Income Loss
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731870
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2019Q4 us-gaap Operating Income Loss
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CY2019Q2 us-gaap Operating Lease Liability
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CY2019Q4 us-gaap Operating Lease Liability
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CY2019Q4 us-gaap Operating Lease Liability Current
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2292681
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
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CY2019Q2 us-gaap Operating Lease Right Of Use Asset
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CY2019Q4 us-gaap Other Assets Fair Value Disclosure
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CY2019Q4 us-gaap Other Assets Noncurrent
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CY2019Q2 us-gaap Other Liabilities Noncurrent
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CY2019Q4 us-gaap Other Receivables Net Current
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments To Acquire Machinery And Equipment
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us-gaap Payments To Acquire Machinery And Equipment
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CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
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2436894
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Revisions </font><font style="display: inline;font-size:11pt;">- Previously reported cash flows from financing activities for the six month period ended October&nbsp;31, 2018 have been revised to reflect the classification of payments and borrowings under the Company&#x2019;s revolving line of credit presented in the condensed consolidated statement of cash flows. The revision had no impact </font><font style="display: inline;font-size:11pt;">on</font><font style="display: inline;font-size:11pt;"> total cash flows from financing activities, net loss or net loss per share, or the condensed consolidated balance sheets or statements of operations or stockholders&#x2019; equity. See Note B, &#x201C;Summary of Significant Accounting Policies&#x201D; in the Company&#x2019;s 2019 10-K for additional information on these revisions.</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
172159933
us-gaap Proceeds From Lines Of Credit
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170235836
CY2019Q2 us-gaap Property Plant And Equipment Net
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33232769
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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us-gaap Repayments Of Lines Of Credit
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165255327
us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Notes Payable
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140000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
140000
us-gaap Restricted Stock Expense
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116300
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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148415148
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
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77001091
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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1630006
us-gaap Selling General And Administrative Expense
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11751271
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5817155
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11527614
CY2019Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
347318
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
465232
CY2018Q2 us-gaap Stockholders Equity
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CY2018Q3 us-gaap Stockholders Equity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
57675703
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
58287449
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
59309652
CY2018Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
116300
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
CY2018Q4 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
CY2019Q4 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
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, 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
4226833
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4230008
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4251590
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4278901
us-gaap Weighted Average Number Of Shares Outstanding Basic
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4226833
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4230008
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4242196
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4242508
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Statement Of Financial Position Extensible List
FinanceLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:PropertyPlantAndEquipmentNet

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