2023 Q4 Form 10-Q Financial Statement

#000114036123049879 Filed on October 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $290.8M $386.4M
YoY Change -5.66% 1.32%
Cost Of Revenue $209.2M $271.7M
YoY Change -4.3% -1.07%
Gross Profit $81.53M $114.8M
YoY Change -8.97% 7.47%
Gross Profit Margin 28.04% 29.7%
Selling, General & Admin $70.33M $79.78M
YoY Change -2.43% 8.99%
% of Gross Profit 86.26% 69.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.561M $7.400M
YoY Change 2.13% 5.68%
% of Gross Profit 9.27% 6.45%
Operating Expenses $70.32M $79.78M
YoY Change -2.33% 8.99%
Operating Profit $11.21M $34.81M
YoY Change -36.18% 3.54%
Interest Expense -$2.521M $3.621M
YoY Change -41.85% -0.96%
% of Operating Profit -22.5% 10.4%
Other Income/Expense, Net -$433.0K $1.732M
YoY Change 477.33% 14.47%
Pretax Income $6.993M $32.92M
YoY Change -38.13% 4.59%
Income Tax -$288.0K $7.995M
% Of Pretax Income -4.12% 24.29%
Net Earnings $6.434M $6.659M
YoY Change -18.9% -24.72%
Net Earnings / Revenue 2.21% 1.72%
Basic Earnings Per Share $0.31
Diluted Earnings Per Share $0.29 $0.30
COMMON SHARES
Basic Shares Outstanding 21.73M 21.73M
Diluted Shares Outstanding 22.25M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.53M $28.50M
YoY Change 53.79% 62.62%
Cash & Equivalents $32.53M $28.49M
Short-Term Investments
Other Short-Term Assets $26.10M $24.20M
YoY Change 3.4% -6.6%
Inventory $525.3M $501.6M
Prepaid Expenses
Receivables $160.3M $208.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $744.2M $762.4M
YoY Change -2.39% -8.11%
LONG-TERM ASSETS
Property, Plant & Equipment $121.9M $113.0M
YoY Change 13.74% 8.46%
Goodwill $134.7M $134.4M
YoY Change 2.0% 2.8%
Intangibles $92.31M $94.32M
YoY Change -8.15% -5.45%
Long-Term Investments $24.05M $22.91M
YoY Change -42.39% -46.28%
Other Assets $35.27M $37.37M
YoY Change 28.2% 24.27%
Total Long-Term Assets $548.8M $537.5M
YoY Change 11.44% 9.91%
TOTAL ASSETS
Total Short-Term Assets $744.2M $762.4M
Total Long-Term Assets $548.8M $537.5M
Total Assets $1.293B $1.300B
YoY Change 3.04% -1.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.5M $103.2M
YoY Change 20.4% -0.63%
Accrued Expenses $145.6M $162.2M
YoY Change 4.29% 2.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.029M $52.43M
YoY Change -90.86% -9.82%
Total Short-Term Liabilities $304.3M $373.3M
YoY Change -5.84% -0.14%
LONG-TERM LIABILITIES
Long-Term Debt $151.2M $95.17M
YoY Change -18.1% -54.98%
Other Long-Term Liabilities $186.7M $185.9M
YoY Change 48.0% 51.05%
Total Long-Term Liabilities $151.2M $95.17M
YoY Change -18.1% -54.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $304.3M $373.3M
Total Long-Term Liabilities $151.2M $95.17M
Total Liabilities $642.2M $654.5M
YoY Change 1.31% -7.61%
SHAREHOLDERS EQUITY
Retained Earnings $573.2M $573.1M
YoY Change 1.59% 1.95%
Common Stock $149.6M $155.9M
YoY Change -2.52% 2.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $635.1M $629.3M
YoY Change
Total Liabilities & Shareholders Equity $1.293B $1.300B
YoY Change 3.04% -1.43%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $6.434M $6.659M
YoY Change -18.9% -24.72%
Depreciation, Depletion And Amortization $7.561M $7.400M
YoY Change 2.13% 5.68%
Cash From Operating Activities $11.37M $93.50M
YoY Change -76.29% 370.84%
INVESTING ACTIVITIES
Capital Expenditures $10.66M $8.500M
YoY Change 65.03% -235.01%
Acquisitions
YoY Change
Other Investing Activities $13.00K $2.800M
YoY Change -100.69% 23233.33%
Cash From Investing Activities -$10.64M -$5.700M
YoY Change 27.77% -9.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.386M -81.90M
YoY Change -103.8% 748.7%
NET CHANGE
Cash From Operating Activities 11.37M 93.50M
Cash From Investing Activities -10.64M -5.700M
Cash From Financing Activities 1.386M -81.90M
Net Change In Cash 2.110M 5.900M
YoY Change -31.83% 50.36%
FREE CASH FLOW
Cash From Operating Activities $11.37M $93.50M
Capital Expenditures $10.66M $8.500M
Free Cash Flow $711.0K $85.00M
YoY Change -98.29% 225.0%

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NumberOfTypesOfRestrictedStock
2
smp Number Of Former Union Employees Covered By The Plan
NumberOfFormerUnionEmployeesCoveredByThePlan
14
CY2023Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
24859000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
64494000
CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-18200000
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-14294000
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-28201000
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-17076000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
6659000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
8846000
us-gaap Net Income Loss
NetIncomeLoss
27714000
us-gaap Net Income Loss
NetIncomeLoss
47418000
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.14
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.08
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.58
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.97
CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.83
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.67
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-1.3
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.79
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.18
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21727000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21427000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21676000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21719000
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.12
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.06
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.52
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.91
CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.82
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.66
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-1.27
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.77
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.3
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.4
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.14
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21727000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21427000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21676000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21719000
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
527000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
421000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
522000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
434000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22254000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21848000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22198000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22153000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
386413000
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
381373000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1067516000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1063616000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
34806000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
33615000
us-gaap Operating Income Loss
OperatingIncomeLoss
82730000
us-gaap Operating Income Loss
OperatingIncomeLoss
88423000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
386413000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
381373000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1067516000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1063616000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
386413000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
381373000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1067516000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1063616000
CY2023Q2 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
11000000
CY2023Q3 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
10500000
CY2023Q3 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
10500000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
500000
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23500000
CY2022Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
30000000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23586000
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23766000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
19667000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
17463000
CY2023Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
36844000
CY2022Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
35450000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
92684000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
88371000
CY2023Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
36905000
CY2022Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
29235000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
88826000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
75853000
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23525000
CY2022Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29981000
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23525000
CY2022Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
29981000

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