2024 Q3 Form 10-Q Financial Statement

#000114036124035244 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $399.3M $389.8M
YoY Change 3.33% 10.41%
Cost Of Revenue $277.9M $278.4M
YoY Change 2.3% 10.55%
Gross Profit $121.4M $111.4M
YoY Change 5.76% 10.05%
Gross Profit Margin 30.4% 28.59%
Selling, General & Admin $81.20M $83.89M
YoY Change 1.78% 13.6%
% of Gross Profit 66.91% 75.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.389M $7.318M
YoY Change -0.15% 3.85%
% of Gross Profit 6.09% 6.57%
Operating Expenses $81.20M $83.89M
YoY Change 1.78% 13.67%
Operating Profit $37.14M $24.99M
YoY Change 6.7% -9.05%
Interest Expense -$3.145M -$2.752M
YoY Change -186.85% -16.17%
% of Operating Profit -8.47% -11.01%
Other Income/Expense, Net $2.129M $2.199M
YoY Change 22.92% 174.19%
Pretax Income $36.12M $24.43M
YoY Change 9.74% -1.07%
Income Tax $9.267M $6.109M
% Of Pretax Income 25.65% 25.0%
Net Earnings $3.810M $17.06M
YoY Change -42.78% 86.75%
Net Earnings / Revenue 0.95% 4.38%
Basic Earnings Per Share $0.18 $0.78
Diluted Earnings Per Share $0.17 $0.77
COMMON SHARES
Basic Shares Outstanding 21.71M 21.81M
Diluted Shares Outstanding 22.15M shares 22.19M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.35M $26.16M
YoY Change -7.55% 13.63%
Cash & Equivalents $26.35M $26.16M
Short-Term Investments
Other Short-Term Assets $28.87M $24.88M
YoY Change 19.31% -10.83%
Inventory $520.9M $526.3M
Prepaid Expenses
Receivables $217.1M $239.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $793.2M $816.7M
YoY Change 4.04% 3.65%
LONG-TERM ASSETS
Property, Plant & Equipment $138.5M $131.9M
YoY Change 22.54% -27.05%
Goodwill $134.7M $134.5M
YoY Change 0.26% 1.57%
Intangibles $85.84M $87.60M
YoY Change -9.0% -9.03%
Long-Term Investments $23.91M $25.62M
YoY Change 4.39% -38.36%
Other Assets $33.01M $38.66M
YoY Change -11.66% -38.97%
Total Long-Term Assets $557.3M $557.7M
YoY Change 3.69% 8.44%
TOTAL ASSETS
Total Short-Term Assets $793.2M $816.7M
Total Long-Term Assets $557.3M $557.7M
Total Assets $1.351B $1.374B
YoY Change 3.89% 5.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $112.4M $105.1M
YoY Change 8.88% -25.94%
Accrued Expenses $184.6M $173.0M
YoY Change 13.82% 17.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.685M $5.030M
YoY Change -94.88% -91.44%
Total Short-Term Liabilities $352.5M $332.2M
YoY Change -5.58% -4.68%
LONG-TERM LIABILITIES
Long-Term Debt $140.2M $203.2M
YoY Change 47.28% 23.51%
Other Long-Term Liabilities $204.4M $184.7M
YoY Change 9.96% 24.15%
Total Long-Term Liabilities $140.2M $203.2M
YoY Change 47.28% -35.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $352.5M $332.2M
Total Long-Term Liabilities $140.2M $203.2M
Total Liabilities $697.1M $720.0M
YoY Change 6.52% 7.07%
SHAREHOLDERS EQUITY
Retained Earnings $583.9M $586.4M
YoY Change 1.89% 2.38%
Common Stock $151.7M $150.6M
YoY Change -2.72% -2.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $638.8M $640.0M
YoY Change
Total Liabilities & Shareholders Equity $1.351B $1.374B
YoY Change 3.89% 5.54%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $3.810M $17.06M
YoY Change -42.78% 86.75%
Depreciation, Depletion And Amortization $7.389M $7.318M
YoY Change -0.15% 3.85%
Cash From Operating Activities $88.34M $35.58M
YoY Change -5.52% -40.52%
INVESTING ACTIVITIES
Capital Expenditures $11.20M $12.85M
YoY Change 31.71% 149.9%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.000K
YoY Change -100.0% -94.34%
Cash From Investing Activities -$11.20M -$12.85M
YoY Change 96.4% 152.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -76.14M -21.91M
YoY Change -7.03% -61.17%
NET CHANGE
Cash From Operating Activities 88.34M 35.58M
Cash From Investing Activities -11.20M -12.85M
Cash From Financing Activities -76.14M -21.91M
Net Change In Cash 1.004M 816.0K
YoY Change -82.98% -147.75%
FREE CASH FLOW
Cash From Operating Activities $88.34M $35.58M
Capital Expenditures $11.20M $12.85M
Free Cash Flow $77.14M $22.72M
YoY Change -9.24% -58.44%

Facts In Submission

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us-gaap Prior Period Reclassification Adjustment Description
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<div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt; font-style: italic; font-weight: bold;">Reclassification</div> <div><br/> </div> <div style="text-align: left; font-family: 'Times New Roman'; font-size: 10pt;">Certain prior period amounts in the accompanying consolidated financial statements and related notes have been reclassified to conform to the 2024 presentation.</div>
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FIFOInventoryNet
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CY2023Q4 smp Unreturned Customer Inventories
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18240000
CY2024Q2 smp Fifo Inventory Net With Unreturned Customer Inventories
FIFOInventoryNetWithUnreturnedCustomerInventories
526302000
CY2023Q4 smp Fifo Inventory Net With Unreturned Customer Inventories
FIFOInventoryNetWithUnreturnedCustomerInventories
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us-gaap Amortization Of Intangible Assets
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 smp Lessee Sundry Payables And Accrued Expenses
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CY2024Q2 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Liability
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2024Q2 us-gaap Lessee Operating Lease Renewal Term
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 smp Lessee Sundry Payables And Accrued Expenses
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CY2024Q2 us-gaap Operating Lease Liability Noncurrent
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q2 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2024Q2 smp Variable And Other Lease Expense
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CY2023Q2 smp Variable And Other Lease Expense
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smp Variable And Other Lease Expense
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CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q2 us-gaap Operating Lease Cost
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CY2023Q2 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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CY2024Q2 smp Variable And Other Lease Expense
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CY2023Q2 smp Variable And Other Lease Expense
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CY2024Q2 us-gaap Lease Cost
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CY2023Q2 us-gaap Lease Cost
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us-gaap Lease Cost
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us-gaap Operating Lease Payments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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30830000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9344000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16919000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14317000
CY2024Q2 smp Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
62086000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
130825000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24793000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
106032000
CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q2 us-gaap Long Term Debt Current
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CY2023Q4 us-gaap Long Term Debt Noncurrent
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CY2024Q2 us-gaap Lease Cost
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CY2023Q2 us-gaap Lease Cost
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us-gaap Operating Lease Payments
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9344000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2024Q2 smp Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2024Q2 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Deferred Finance Costs Net
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Deferred Finance Costs Net
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CY2024Q2 smp Amortization Of Financing Costs Remainder Of Fiscal Year
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200000
CY2024Q2 smp Amortization Of Financing Costs Next Twelve Months
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500000
CY2024Q2 smp Amortization Of Financing Costs Year Two
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500000
CY2024Q2 smp Amortization Of Financing Costs Year Three
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CY2024Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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CY2024Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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500000
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500000
CY2024Q2 smp Amortization Of Financing Costs Year Three
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100000
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CY2024Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2024Q2 us-gaap Income Loss From Continuing Operations
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us-gaap Income Loss From Continuing Operations
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
432000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
490000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22186000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22183000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22278000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22140000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
389829000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
353075000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
721232000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
681103000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
24986000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
27178000
us-gaap Operating Income Loss
OperatingIncomeLoss
39605000
us-gaap Operating Income Loss
OperatingIncomeLoss
47924000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
389829000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
353075000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
721232000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
681103000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
389829000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
353075000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
721232000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21768000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21689000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21846000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21650000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
418000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
494000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
432000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
490000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22186000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22183000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22278000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22140000
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
389829000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
353075000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
721232000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
681103000
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
24986000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
27178000
us-gaap Operating Income Loss
OperatingIncomeLoss
39605000
us-gaap Operating Income Loss
OperatingIncomeLoss
47924000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
389829000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
353075000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
721232000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
681103000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
389829000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
353075000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
721232000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
681103000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
681103000
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23092000
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
20600000
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
21134000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
19667000
CY2024Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
37003000
CY2023Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
30047000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
65680000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
55840000
CY2024Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
32552000
CY2023Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
27061000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
59271000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
51921000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
27543000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23586000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
27543000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23586000
CY2024Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23092000
CY2023Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
20600000
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
21134000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
19667000
CY2024Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
37003000
CY2023Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
30047000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
65680000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
55840000
CY2024Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
32552000
CY2023Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
27061000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
59271000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
51921000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
27543000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
23586000

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