$SGMA
SIGMATRON INTERNATIONAL INC

2020 Q3 Form 10-Q Financial Statement

#000091535820000018 Filed on September 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $0.00 $74.01M
YoY Change -100.0% 3.64%
Cost Of Revenue $56.25M $67.05M
YoY Change -16.1% 2.17%
Gross Profit $4.272M $6.960M
YoY Change -38.62% 20.23%
Gross Profit Margin 9.4%
Selling, General & Admin $5.060M $5.827M
YoY Change -13.18% -1.8%
% of Gross Profit 118.43% 83.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.360M $1.330M
YoY Change 2.26% -2.21%
% of Gross Profit 31.83% 19.11%
Operating Expenses $5.060M $5.827M
YoY Change -13.18% -1.8%
Operating Profit -$787.3K $1.133M
YoY Change -169.49% -881.06%
Interest Expense $338.3K $591.2K
YoY Change -42.79% 6.82%
% of Operating Profit 52.18%
Other Income/Expense, Net $4.098K $66.36K
YoY Change -93.82% -364.78%
Pretax Income -$1.122M $608.1K
YoY Change -284.41% -184.04%
Income Tax -$220.8K $247.1K
% Of Pretax Income 40.63%
Net Earnings -$900.7K $361.0K
YoY Change -349.47% -168.56%
Net Earnings / Revenue 0.49%
Basic Earnings Per Share -$0.21 $0.09
Diluted Earnings Per Share -$0.21 $0.09
COMMON SHARES
Basic Shares Outstanding 4.251M 4.242M
Diluted Shares Outstanding 4.251M 4.242M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.800M $1.500M
YoY Change 86.67% -16.67%
Cash & Equivalents $2.846M $1.488M
Short-Term Investments
Other Short-Term Assets $1.200M $2.400M
YoY Change -50.0% 33.33%
Inventory $85.21M $74.26M
Prepaid Expenses
Receivables $28.02M $31.93M
Other Receivables $4.137M $1.875M
Total Short-Term Assets $123.2M $113.1M
YoY Change 8.9% -10.01%
LONG-TERM ASSETS
Property, Plant & Equipment $33.63M $32.68M
YoY Change 2.91% -5.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.483M $6.983M
YoY Change 35.81% 132.75%
Total Long-Term Assets $45.66M $42.67M
YoY Change 7.0% 4.84%
TOTAL ASSETS
Total Short-Term Assets $123.2M $113.1M
Total Long-Term Assets $45.66M $42.67M
Total Assets $168.8M $155.8M
YoY Change 8.38% -6.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.70M $36.20M
YoY Change 23.48% -28.6%
Accrued Expenses $2.597M $2.723M
YoY Change -4.63% -59.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.114M $691.7K
YoY Change 494.77% -76.94%
Total Short-Term Liabilities $60.80M $48.76M
YoY Change 24.69% -19.93%
LONG-TERM LIABILITIES
Long-Term Debt $41.21M $40.50M
YoY Change 1.75% -10.79%
Other Long-Term Liabilities $842.7K $1.192M
YoY Change -29.28% -37.28%
Total Long-Term Liabilities $50.06M $48.38M
YoY Change 3.47% 2.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.80M $48.76M
Total Long-Term Liabilities $50.06M $48.38M
Total Liabilities $110.9M $97.14M
YoY Change 14.12% -10.14%
SHAREHOLDERS EQUITY
Retained Earnings $34.31M $35.13M
YoY Change -2.33%
Common Stock $23.68M $23.52M
YoY Change 0.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.99M $58.65M
YoY Change
Total Liabilities & Shareholders Equity $168.8M $155.8M
YoY Change 8.38% -6.38%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$900.7K $361.0K
YoY Change -349.47% -168.56%
Depreciation, Depletion And Amortization $1.360M $1.330M
YoY Change 2.26% -2.21%
Cash From Operating Activities -$5.143M $4.071M
YoY Change -226.33% -218.3%
INVESTING ACTIVITIES
Capital Expenditures -$970.0K -$680.0K
YoY Change 42.65% -4.23%
Acquisitions
YoY Change
Other Investing Activities $1.132M
YoY Change
Cash From Investing Activities -$2.099M -$684.7K
YoY Change 206.54% -3.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.308M -2.904M
YoY Change -213.9% -168.64%
NET CHANGE
Cash From Operating Activities -5.143M 4.071M
Cash From Investing Activities -2.099M -684.7K
Cash From Financing Activities 3.308M -2.904M
Net Change In Cash -3.933M 481.9K
YoY Change -916.18% 477.16%
FREE CASH FLOW
Cash From Operating Activities -$5.143M $4.071M
Capital Expenditures -$970.0K -$680.0K
Free Cash Flow -$4.173M $4.751M
YoY Change -187.83% -273.95%

Facts In Submission

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CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
176079031
CY2020Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
168847482
CY2020Q2 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2020Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
47155191
CY2020Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
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CY2020Q2 us-gaap Long Term Debt
LongTermDebt
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CY2020Q3 us-gaap Long Term Debt
LongTermDebt
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CY2020Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
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CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
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CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
256296
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
38551535
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
124755
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
401870
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1669211
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
457953
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3864016
CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
38537064
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
41211579
CY2019Q3 us-gaap Net Cash Provided By Used In Financing Activities
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-2904247
CY2020Q3 us-gaap Net Cash Provided By Used In Financing Activities
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3308008
CY2020Q3 us-gaap Net Cash Provided By Used In Investing Activities
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-2098756
CY2020Q3 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019Q3 us-gaap Net Income Loss
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361025
CY2020Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Nonoperating Income Expense
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CY2020Q3 us-gaap Nonoperating Income Expense
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CY2020Q3 us-gaap Number Of Operating Segments
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1
CY2019Q3 us-gaap Operating Income Loss
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CY2020Q3 us-gaap Operating Income Loss
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CY2019Q3 us-gaap Operating Lease Cost
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594494
CY2020Q3 us-gaap Operating Lease Cost
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CY2020Q3 us-gaap Operating Lease Liability
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8162694
CY2020Q2 us-gaap Operating Lease Liability Current
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CY2020Q3 us-gaap Operating Lease Liability Current
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CY2020Q2 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiabilityCurrent
CY2020Q3 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiabilityCurrent
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
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5281811
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
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5949279
CY2020Q2 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiabilityNoncurrent
CY2020Q3 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiabilityNoncurrent
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
62155
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
54021
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7235166
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7962685
CY2020Q2 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssetsNoncurrent
CY2020Q3 us-gaap Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
us-gaap:OtherAssetsNoncurrent
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
810769
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2020Q2 us-gaap Other Receivables Net Current
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CY2020Q3 us-gaap Other Receivables Net Current
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4137033
CY2020Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1131900
CY2019Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5959
CY2020Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
8055
CY2020Q3 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
966856
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P59M9D
CY2020Q3 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
600000
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
8891090
CY2020Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9482870
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1510943
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1222861
CY2019Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
82796750
CY2020Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
76661576
CY2018Q2 us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
350000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33935760
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33632655
CY2019Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
84852276
CY2020Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
73725348
CY2019Q3 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
70000
CY2020Q3 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
80416
CY2020Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
15229
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
35214021
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
34313355
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
74009981
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
60524956
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
334530
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5827326
CY2020Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5059525
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
465232
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
513232
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1350
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1350
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
58648469
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
58875799
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
57990362
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2270000
CY2020Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
15229
CY2020Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
CY2020Q3 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;">- 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 net realizable value for inventory, deferred income, 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 style="margin:0pt;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">&#xFEFF;</font> </p> <p style="margin:0pt;font-family:Times New Roman;font-size: 11pt"> <font style="display: inline;font-size:11pt;">The potential impact of future disruptions, continued economic uncertainty over COVID-19 may have a significant adverse impact on the timing of delivery of customer orders and the levels of future customer orders.&nbsp;&nbsp;It is reasonably possible that these potential adverse impacts may result in the recognition of material impairments of the Company&#x2019;s long-lived assets or other related charges in future periods.</font> </p> <p><font size="1"> </font></p> </div> </div>
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
73897
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
78347
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4241883
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4250986
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4241883
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4250986

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