2023 Q1 Form 10-K Financial Statement

#000114036123007960 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $328.0M $308.2M $1.372B
YoY Change 1.61% -0.54% 5.62%
Cost Of Revenue $236.8M $218.6M $989.3M
YoY Change 1.62% -1.16% 7.31%
Gross Profit $91.27M $89.56M $382.5M
YoY Change 1.59% 1.01% 1.49%
Gross Profit Margin 27.82% 29.06% 27.89%
Selling, General & Admin $69.63M $72.08M $276.6M
YoY Change 10.73% 12.21% 11.75%
% of Gross Profit 76.3% 80.47% 72.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.082M $7.403M $28.30M
YoY Change 1.87% 4.52% 3.87%
% of Gross Profit 7.76% 8.27% 7.4%
Operating Expenses $69.63M $72.01M $276.6M
YoY Change 10.73% 12.1% 11.75%
Operating Profit $20.75M $17.56M $104.1M
YoY Change -22.92% -28.15% -19.27%
Interest Expense $3.862M -$4.335M $10.62M
YoY Change 379.75% 545.09% 423.52%
% of Operating Profit 18.62% -24.69% 10.2%
Other Income/Expense, Net $225.0K -$75.00K $4.814M
YoY Change -84.47% -106.01% 37.78%
Pretax Income $17.11M $11.30M $98.33M
YoY Change -37.92% -54.4% -24.63%
Income Tax $4.372M $2.799M $25.21M
% Of Pretax Income 25.55% 24.77% 25.63%
Net Earnings $11.92M $7.933M $55.35M
YoY Change -38.71% -57.56% -39.1%
Net Earnings / Revenue 3.63% 2.57% 4.03%
Basic Earnings Per Share $0.55 $2.55
Diluted Earnings Per Share $0.54 $0.35 $2.50
COMMON SHARES
Basic Shares Outstanding 21.59M 21.57M 21.68M
Diluted Shares Outstanding 22.10M 22.14M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.20M $21.15M $21.15M
YoY Change 20.99% -2.78% -2.78%
Cash & Equivalents $24.20M $21.15M $21.15M
Short-Term Investments
Other Short-Term Assets $26.19M $25.24M $25.24M
YoY Change 49.92% 41.62% 41.62%
Inventory $542.7M $548.4M $548.4M
Prepaid Expenses
Receivables $210.8M $167.6M $167.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $803.9M $762.4M $762.4M
YoY Change -1.9% 7.2% 7.2%
LONG-TERM ASSETS
Property, Plant & Equipment $107.1M $107.1M $157.1M
YoY Change -26.25% 4.24% 9.57%
Goodwill $132.3M $132.1M
YoY Change 0.33%
Intangibles $98.39M $100.5M
YoY Change -5.39%
Long-Term Investments $42.72M $41.75M $41.75M
YoY Change -6.15% -5.31% -5.31%
Other Assets $27.46M $27.51M $59.22M
YoY Change -57.42% 8.3% -3.74%
Total Long-Term Assets $516.2M $492.5M $492.5M
YoY Change 5.13% 1.18% 1.18%
TOTAL ASSETS
Total Short-Term Assets $803.9M $762.4M $762.4M
Total Long-Term Assets $516.2M $492.5M $492.5M
Total Assets $1.320B $1.255B $1.255B
YoY Change 0.73% 4.76% 4.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $94.37M $89.25M $128.5M
YoY Change -32.3% -34.94% -6.34%
Accrued Expenses $138.2M $139.6M $139.6M
YoY Change -11.02% -14.94% -14.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $57.61M $55.03M $55.03M
YoY Change -76.83% -57.15% -57.15%
Total Short-Term Liabilities $321.4M $323.1M $323.1M
YoY Change -44.4% -32.17% -32.17%
LONG-TERM LIABILITIES
Long-Term Debt $215.5M $184.6M $184.6M
YoY Change 878895.24% 878895.24%
Other Long-Term Liabilities $150.4M $126.2M $126.2M
YoY Change 37.55% 15.81% 15.81%
Total Long-Term Liabilities $215.5M $184.6M $310.8M
YoY Change 878895.24% 185.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $321.4M $323.1M $323.1M
Total Long-Term Liabilities $215.5M $184.6M $310.8M
Total Liabilities $687.3M $633.9M $644.9M
YoY Change -1.6% 8.3% 8.14%
SHAREHOLDERS EQUITY
Retained Earnings $569.9M $564.2M
YoY Change 6.0%
Common Stock $154.5M $153.5M
YoY Change 0.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $621.6M $610.0M $610.0M
YoY Change
Total Liabilities & Shareholders Equity $1.320B $1.255B $1.255B
YoY Change 0.73% 4.76% 4.76%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $11.92M $7.933M $55.35M
YoY Change -38.71% -57.56% -39.1%
Depreciation, Depletion And Amortization $7.082M $7.403M $28.30M
YoY Change 1.87% 4.52% 3.87%
Cash From Operating Activities -$20.44M $47.94M -$27.53M
YoY Change -80.34% 646.06% -132.18%
INVESTING ACTIVITIES
Capital Expenditures $4.363M $6.457M $25.96M
YoY Change -167.65% -199.81% 0.31%
Acquisitions $1.934M
YoY Change -98.46%
Other Investing Activities -$13.00K -$1.873M -$73.00K
YoY Change 153.11% 62.22%
Cash From Investing Activities -$4.350M -$8.330M -$27.82M
YoY Change -32.55% 15.55% -81.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $29.66M
YoY Change 10.4%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.34M -36.52M 55.50M
YoY Change -74.76% 261.52% -19.58%
NET CHANGE
Cash From Operating Activities -20.44M 47.94M -27.53M
Cash From Investing Activities -4.350M -8.330M -27.82M
Cash From Financing Activities 27.34M -36.52M 55.50M
Net Change In Cash 3.046M 3.095M -605.0K
YoY Change -246.51% -128.44% -126.69%
FREE CASH FLOW
Cash From Operating Activities -$20.44M $47.94M -$27.53M
Capital Expenditures $4.363M $6.457M $25.96M
Free Cash Flow -$24.81M $41.48M -$53.49M
YoY Change -74.56% 221.71% -189.61%

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130465000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
107379000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25206000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31044000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26962000
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
73126000
CY2021 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
99421000
CY2020 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
80417000
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-17691000
CY2021 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-8467000
CY2020 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-23024000
CY2022 us-gaap Profit Loss
ProfitLoss
55435000
CY2021 us-gaap Profit Loss
ProfitLoss
90954000
CY2020 us-gaap Profit Loss
ProfitLoss
57393000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
458832000
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
450630000
CY2020Q4 us-gaap Noncurrent Assets
NoncurrentAssets
313234000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1371815000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1371815000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1371815000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1298816000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1298816000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1298816000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1128588000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1128588000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1128588000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
14135000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
12065000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
11669000
CY2022 smp Operating Lease Non Lease Components
OperatingLeaseNonLeaseComponents
2700000
CY2021 smp Operating Lease Non Lease Components
OperatingLeaseNonLeaseComponents
2000000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
19700000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17500000
CY2022 us-gaap Product Warranty Expense
ProductWarrantyExpense
112500000
CY2021 us-gaap Product Warranty Expense
ProductWarrantyExpense
91900000
CY2020 us-gaap Product Warranty Expense
ProductWarrantyExpense
87100000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17463000
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17663000
CY2022 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
112477000
CY2021 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
91908000
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
110273000
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
92108000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
19667000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17463000
CY2022 smp Number Of Key Officers
NumberOfKeyOfficers
1

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