2020 Q2 Form 10-Q Financial Statement

#000076682920000125 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2018 Q3
Revenue $147.2M $103.0M $124.9M
YoY Change 42.97% 3.91% 0.22%
Cost Of Revenue $22.00M $10.60M $16.80M
YoY Change 107.55% -7.83% -8.2%
Gross Profit $125.2M $92.40M $108.1M
YoY Change 35.5% 5.48% 1.69%
Gross Profit Margin 85.05% 89.74% 86.58%
Selling, General & Admin $17.40M $12.70M $12.20M
YoY Change 37.01% 11.4% 7.02%
% of Gross Profit 13.9% 13.74% 11.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.10M $15.80M $14.20M
YoY Change 46.2% 11.27% 12.7%
% of Gross Profit 18.45% 17.1% 13.14%
Operating Expenses $89.10M $68.60M $73.80M
YoY Change 29.88% 10.47% 9.99%
Operating Profit $36.07M $21.97M $25.83M
YoY Change 64.17% -3.63% -32.47%
Interest Expense $13.18M $6.714M $6.077M
YoY Change 96.31% 10.36% 9.67%
% of Operating Profit 36.54% 30.56% 23.53%
Other Income/Expense, Net $1.048M $517.0K $538.0K
YoY Change 102.71% -23.86% 49.86%
Pretax Income $23.93M $17.95M $19.89M
YoY Change 33.29% 5.99% -39.84%
Income Tax $4.210M $4.192M $4.103M
% Of Pretax Income 17.59% 23.35% 20.63%
Net Earnings $19.72M $13.54M $15.79M
YoY Change 45.67% 5.18% -19.2%
Net Earnings / Revenue 13.4% 13.15% 12.65%
Basic Earnings Per Share $0.69 $0.48 $0.77
Diluted Earnings Per Share $0.69 $0.47 $0.76
COMMON SHARES
Basic Shares Outstanding 28.51M shares 28.44M shares 20.63M shares
Diluted Shares Outstanding 28.68M shares 28.53M shares 20.73M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.30M $421.8M $13.30M
YoY Change -94.48% 4639.33% 75.0%
Cash & Equivalents $23.32M $421.8M $13.33M
Short-Term Investments
Other Short-Term Assets $11.43M $5.163M $5.522M
YoY Change 121.4% -18.15% 5.72%
Inventory
Prepaid Expenses
Receivables $44.88M $24.35M $22.60M
Other Receivables $4.800M $3.800M $800.0K
Total Short-Term Assets $145.5M $503.9M $80.37M
YoY Change -71.12% 588.67% -7.75%
LONG-TERM ASSETS
Property, Plant & Equipment $43.83M $43.55M $44.31M
YoY Change 0.64% -2.37% -2.36%
Goodwill $628.3M
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.50M $0.00
YoY Change -100.0%
Other Assets $7.374M $4.834M $4.263M
YoY Change 52.54% 76.68% -45.05%
Total Long-Term Assets $3.064B $86.58M $108.9M
YoY Change 3439.42% -16.97% -28.56%
TOTAL ASSETS
Total Short-Term Assets $145.5M $503.9M $80.37M
Total Long-Term Assets $3.064B $86.58M $108.9M
Total Assets $3.210B $2.004B $2.004B
YoY Change 60.21% 33.57% 32.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.30M $28.25M $26.96M
YoY Change -14.01% 7.91% -12.08%
Accrued Expenses $51.10M $32.20M $38.90M
YoY Change 58.7% 2.88% 7.16%
Deferred Revenue
YoY Change
Short-Term Debt $146.7M $55.00M $76.00M
YoY Change 166.73% -6.78% 484.62%
Long-Term Debt Due $22.35M
YoY Change
Total Short-Term Liabilities $258.0M $127.1M $151.7M
YoY Change 103.03% 2.01% 62.37%
LONG-TERM LIABILITIES
Long-Term Debt $1.316B $510.9M $431.3M
YoY Change 157.6% 18.46% 0.08%
Other Long-Term Liabilities $22.68M $12.45M $13.57M
YoY Change 82.1% -3.99% 5.57%
Total Long-Term Liabilities $1.339B $523.3M $444.9M
YoY Change 155.8% 17.8% 0.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $258.0M $127.1M $151.7M
Total Long-Term Liabilities $1.339B $523.3M $444.9M
Total Liabilities $1.597B $650.4M $596.6M
YoY Change 145.49% 14.34% 11.04%
SHAREHOLDERS EQUITY
Retained Earnings $387.0M $396.3M $390.9M
YoY Change -2.35% 4.05% 6.56%
Common Stock $508.1M $497.7M $84.07M
YoY Change 2.1% 489.67% 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $895.1M $894.0M $475.0M
YoY Change
Total Liabilities & Shareholders Equity $3.210B $2.004B $1.537B
YoY Change 60.21% 33.57% 1.67%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2018 Q3
OPERATING ACTIVITIES
Net Income $19.72M $13.54M $15.79M
YoY Change 45.67% 5.18% -19.2%
Depreciation, Depletion And Amortization $23.10M $15.80M $14.20M
YoY Change 46.2% 11.27% 12.7%
Cash From Operating Activities $24.40M $24.60M $28.30M
YoY Change -0.81% 7.89% -8.71%
INVESTING ACTIVITIES
Capital Expenditures -$37.20M -$37.30M -$38.50M
YoY Change -0.27% 7.18% -5.64%
Acquisitions
YoY Change
Other Investing Activities -$1.500M -$900.0K -$100.0K
YoY Change 66.67% -18.18% -93.75%
Cash From Investing Activities -$38.60M -$38.10M -$38.60M
YoY Change 1.31% 6.42% -9.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.200M 15.80M 14.70M
YoY Change -41.77% 5.33% 50.0%
NET CHANGE
Cash From Operating Activities 24.40M 24.60M 28.30M
Cash From Investing Activities -38.60M -38.10M -38.60M
Cash From Financing Activities 9.200M 15.80M 14.70M
Net Change In Cash -5.000M 2.300M 4.400M
YoY Change -317.39% 15.0% -358.82%
FREE CASH FLOW
Cash From Operating Activities $24.40M $24.60M $28.30M
Capital Expenditures -$37.20M -$37.30M -$38.50M
Free Cash Flow $61.60M $61.90M $66.80M
YoY Change -0.48% 7.47% -6.96%

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us-gaap Depreciation Depletion And Amortization
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9403000 USD
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3931000 USD
us-gaap Increase Decrease In Accrued Taxes Payable
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1942000 USD
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13903000 USD
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5000000 USD
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2881000 USD
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us-gaap Net Cash Provided By Used In Financing Activities
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2348000 USD
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247299000 USD
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553000 USD
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2735000 USD
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us-gaap Revenues
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us-gaap Revenues
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180647000 USD
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718000 USD
us-gaap Allocated Share Based Compensation Expense
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1260000 USD
us-gaap Allocated Share Based Compensation Expense
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1604000 USD
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43531000 USD
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58023000 USD
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57699000 USD
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13597000 USD
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43826000 USD
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44102000 USD
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us-gaap Defined Benefit Plan Service Cost
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4780000 USD
us-gaap Defined Benefit Plan Service Cost
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2958000 USD
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5720000 USD
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4225000 USD
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2310000 USD
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us-gaap Defined Benefit Plan Expected Return On Plan Assets
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4619000 USD
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4865000 USD
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4799000 USD
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260747000 USD
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8594000 USD
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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22753000 USD
CY2020Q2 us-gaap Interest Expense
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CY2020Q2 us-gaap Income Tax Expense Benefit
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UtilitiesOperatingExpense
80994000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21971000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
13538000 USD
CY2019Q2 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
15101000 USD
CY2019Q2 us-gaap Interest Expense
InterestExpense
6714000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4192000 USD
CY2019Q2 us-gaap Assets
Assets
2003650000 USD
us-gaap Regulated Operating Revenue
RegulatedOperatingRevenue
262963000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
211466000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
51497000 USD
us-gaap Net Income Loss
NetIncomeLoss
22138000 USD
us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
44135000 USD
us-gaap Interest Expense
InterestExpense
26464000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4648000 USD
CY2020Q2 us-gaap Assets
Assets
3209977000 USD
us-gaap Regulated Operating Revenue
RegulatedOperatingRevenue
180647000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
146268000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
34379000 USD
us-gaap Net Income Loss
NetIncomeLoss
19411000 USD
us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
30246000 USD
us-gaap Interest Expense
InterestExpense
12505000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6237000 USD
CY2018Q3 us-gaap Assets
Assets
2003650000 USD
CY2020Q2 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
7282000 USD
CY2020Q2 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
3739000 USD
CY2019Q4 us-gaap Life Insurance Corporate Or Bank Owned Amount
LifeInsuranceCorporateOrBankOwnedAmount
7086000 USD
CY2019Q4 us-gaap Cash Surrender Value Of Life Insurance
CashSurrenderValueOfLifeInsurance
3829000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
1338333000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
1305869000 USD
CY2020Q1 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
6658000 USD
CY2020Q2 sjw Balancingand Memorandum Revenue Account Increase Decrease
BalancingandMemorandumRevenueAccountIncreaseDecrease
1629000 USD
CY2020Q2 sjw Balancingand Memorandum Revenue Account Refunds Collections
BalancingandMemorandumRevenueAccountRefundsCollections
0 USD
CY2020Q2 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
8287000 USD
CY2019Q1 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
23481000 USD
CY2019Q2 sjw Balancingand Memorandum Revenue Account Increase Decrease
BalancingandMemorandumRevenueAccountIncreaseDecrease
3253000 USD
CY2019Q2 sjw Balancingand Memorandum Revenue Account Refunds Collections
BalancingandMemorandumRevenueAccountRefundsCollections
-5106000 USD
CY2019Q2 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
21628000 USD
CY2020Q1 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
8390000 USD
CY2020Q2 sjw Balancingand Memorandum Cost Recovery Account Increase Decrease
BalancingandMemorandumCostRecoveryAccountIncreaseDecrease
938000 USD
CY2020Q2 sjw Balancingand Memorandum Cost Recovery Account Refunds Collections
BalancingandMemorandumCostRecoveryAccountRefundsCollections
0 USD
CY2020Q2 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
9328000 USD
CY2019Q1 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
7995000 USD
CY2019Q2 sjw Balancingand Memorandum Cost Recovery Account Increase Decrease
BalancingandMemorandumCostRecoveryAccountIncreaseDecrease
-856000 USD
CY2019Q2 sjw Balancingand Memorandum Cost Recovery Account Refunds Collections
BalancingandMemorandumCostRecoveryAccountRefundsCollections
-590000 USD
CY2019Q2 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
6549000 USD
CY2020Q1 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
15048000 USD
CY2020Q2 sjw Balancingand Memorandum Account Increase Decrease
BalancingandMemorandumAccountIncreaseDecrease
2567000 USD
CY2020Q2 sjw Balancingand Memorandum Account Refunds Collections
BalancingandMemorandumAccountRefundsCollections
0 USD
CY2020Q2 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
17615000 USD
CY2019Q1 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
31476000 USD
CY2019Q2 sjw Balancingand Memorandum Account Increase Decrease
BalancingandMemorandumAccountIncreaseDecrease
2397000 USD
CY2019Q2 sjw Balancingand Memorandum Account Refunds Collections
BalancingandMemorandumAccountRefundsCollections
-5696000 USD
CY2019Q2 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
28177000 USD
CY2019Q4 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
-1940000 USD
sjw Balancingand Memorandum Revenue Account Increase Decrease
BalancingandMemorandumRevenueAccountIncreaseDecrease
3386000 USD
sjw Balancingand Memorandum Revenue Account Refunds Collections
BalancingandMemorandumRevenueAccountRefundsCollections
6841000 USD
CY2020Q2 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
8287000 USD
CY2018Q4 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
25549000 USD
sjw Balancingand Memorandum Revenue Account Increase Decrease
BalancingandMemorandumRevenueAccountIncreaseDecrease
3865000 USD
sjw Balancingand Memorandum Revenue Account Refunds Collections
BalancingandMemorandumRevenueAccountRefundsCollections
-7786000 USD
CY2019Q2 sjw Balancingand Memorandum Revenue Account Net
BalancingandMemorandumRevenueAccountNet
21628000 USD
CY2019Q4 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
7223000 USD
sjw Balancingand Memorandum Cost Recovery Account Increase Decrease
BalancingandMemorandumCostRecoveryAccountIncreaseDecrease
2121000 USD
sjw Balancingand Memorandum Cost Recovery Account Refunds Collections
BalancingandMemorandumCostRecoveryAccountRefundsCollections
-16000 USD
CY2020Q2 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
9328000 USD
CY2018Q4 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
8864000 USD
sjw Balancingand Memorandum Cost Recovery Account Increase Decrease
BalancingandMemorandumCostRecoveryAccountIncreaseDecrease
-1414000 USD
sjw Balancingand Memorandum Cost Recovery Account Refunds Collections
BalancingandMemorandumCostRecoveryAccountRefundsCollections
-901000 USD
CY2019Q2 sjw Balancingand Memorandum Cost Recovery Account Net
BalancingandMemorandumCostRecoveryAccountNet
6549000 USD
CY2019Q4 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
5283000 USD
sjw Balancingand Memorandum Account Increase Decrease
BalancingandMemorandumAccountIncreaseDecrease
5507000 USD
sjw Balancingand Memorandum Account Refunds Collections
BalancingandMemorandumAccountRefundsCollections
6825000 USD
CY2020Q2 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
17615000 USD
CY2018Q4 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
34413000 USD
sjw Balancingand Memorandum Account Increase Decrease
BalancingandMemorandumAccountIncreaseDecrease
2451000 USD
sjw Balancingand Memorandum Account Refunds Collections
BalancingandMemorandumAccountRefundsCollections
-8687000 USD
CY2019Q2 sjw Balancing And Memorandum Account Net
BalancingAndMemorandumAccountNet
28177000 USD
CY2020Q2 sjw Regulatory Balancingand Memorandum Accounts Net Under Collected
RegulatoryBalancingandMemorandumAccountsNetUnderCollected
1759000 USD
CY2020Q2 sjw Regulatory Balancingand Memorandum Accounts Review Authorized Revenue Threshold Percentage
RegulatoryBalancingandMemorandumAccountsReviewAuthorizedRevenueThresholdPercentage
0.02
CY2020Q2 us-gaap Net Regulatory Assets
NetRegulatoryAssets
138230000 USD
CY2019Q4 us-gaap Net Regulatory Assets
NetRegulatoryAssets
120417000 USD
CY2020Q2 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
5691000 USD
CY2019Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
6472000 USD
CY2020Q2 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
132539000 USD
CY2019Q4 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
113945000 USD

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