$STCN
Steel Connect, Inc. Stock $stcn

$stcn Overview Financials Valuation SEC Filings Company Website

2019 Q2 Form 10-Q Financial Statement

#000162828019007673 Filed on June 06, 2019

Income Statement

Concept	2019 Q2	2018 Q2	2018 Q1
Revenue	$194.0M	$193.9M	$153.7M
YoY Change	0.04%	97.98%	30.77%
Cost Of Revenue	$157.1M	$154.9M	$137.9M
YoY Change	1.44%	73.27%	29.66%
Gross Profit	$36.86M	$39.01M	$15.82M
YoY Change	-5.5%	356.63%	41.3%
Gross Profit Margin	19.0%	20.11%	10.29%
Selling, General & Admin	$27.43M	$29.66M	$30.11M
YoY Change	-7.54%	111.35%	152.48%
% of Gross Profit	74.4%	76.04%	190.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$13.16M	$13.69M	$7.880M
YoY Change	-3.87%	628.19%	280.68%
% of Gross Profit	35.7%	35.1%	49.8%
Operating Expenses	$34.70M	$37.63M	$21.53M
YoY Change	-7.76%	172.94%	69.47%
Operating Profit	$2.157M	$1.380M	-$5.703M
YoY Change	56.3%	-126.32%	279.19%
Interest Expense	$10.29M	$10.68M	$6.575M
YoY Change	-3.61%	423.27%	211.76%
% of Operating Profit	477.24%	773.91%
Other Income/Expense, Net	-$10.39M	-$11.20M	-$8.200M
YoY Change	-7.25%	-1567.63%	662.79%
Pretax Income	-$8.229M	-$9.818M	-$13.90M
YoY Change	-16.18%	119.15%	439.08%
Income Tax	$1.420M	$715.0K	-$73.52M
% Of Pretax Income
Net Earnings	-$9.627M	-$10.33M	$59.82M
YoY Change	-6.83%	103.93%	-2158.43%
Net Earnings / Revenue	-4.96%	-5.33%	38.91%
Basic Earnings Per Share	-$0.17	-$0.18	$1.02
Diluted Earnings Per Share	-$0.17	-$0.18	$0.78
COMMON SHARES
Basic Shares Outstanding	61.39M shares	60.08M shares	58.34M
Diluted Shares Outstanding	61.39M shares	60.08M shares	79.08M

Balance Sheet

Concept	2019 Q2	2018 Q2	2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$20.40M	$99.70M	$106.4M
YoY Change	-79.54%	-19.14%	-15.15%
Cash & Equivalents	$20.36M	$99.72M	$106.4M
Short-Term Investments		$0.00	$0.00
Other Short-Term Assets	$43.50M	$24.70M	$30.30M
YoY Change	76.11%	21.67%	57.81%
Inventory	$25.40M	$46.18M	$49.21M
Prepaid Expenses
Receivables	$113.2M	$99.68M	$110.8M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$202.4M	$270.2M	$292.8M
YoY Change	-25.08%	-0.53%	2.47%
LONG-TERM ASSETS
Property, Plant & Equipment	$97.26M	$103.8M	$105.4M
YoY Change	-6.28%	422.35%	402.36%
Goodwill	$257.1M	$255.4M	$255.4M
YoY Change	0.69%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$8.125M	$14.83M	$6.039M
YoY Change	-45.21%	200.36%	9.34%
Total Long-Term Assets	$532.3M	$572.8M	$577.6M
YoY Change	-7.07%	2209.36%	2079.25%
TOTAL ASSETS
Total Short-Term Assets	$202.4M	$270.2M	$292.8M
Total Long-Term Assets	$532.3M	$572.8M	$577.6M
Total Assets	$734.8M	$843.0M	$870.4M
YoY Change	-12.84%	184.36%	178.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$83.23M	$78.95M	$85.01M
YoY Change	5.43%	-2.71%	-6.73%
Accrued Expenses	$77.71M	$85.78M	$74.67M
YoY Change	-9.4%	114.36%	88.48%
Deferred Revenue	$2.900M
YoY Change
Short-Term Debt	$10.00M	$0.00	$0.00
YoY Change
Long-Term Debt Due	$5.729M	$5.727M	$5.725M
YoY Change	0.03%
Total Short-Term Liabilities	$220.5M	$293.0M	$222.2M
YoY Change	-24.74%	83.54%	29.24%
LONG-TERM LIABILITIES
Long-Term Debt	$369.9M	$384.5M	$386.0M
YoY Change	-3.8%	555.1%	570.1%
Other Long-Term Liabilities	$9.707M	$11.67M	$12.69M
YoY Change	-16.8%	26.18%	37.79%
Total Long-Term Liabilities	$386.7M	$396.2M	$478.7M
YoY Change	-2.41%	483.44%	616.5%
TOTAL LIABILITIES
Total Short-Term Liabilities	$220.5M	$293.0M	$222.2M
Total Long-Term Liabilities	$386.7M	$396.2M	$478.7M
Total Liabilities	$607.2M	$689.2M	$706.4M
YoY Change	-11.9%	202.89%	195.95%
SHAREHOLDERS EQUITY
Retained Earnings	-$7.388B	-$7.356B	-$7.345B
YoY Change	0.44%	-0.46%	-0.54%
Common Stock	$618.0K	$608.0K	$603.0K
YoY Change	1.64%	9.35%	8.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$92.39M	$118.7M	$128.7M
YoY Change
Total Liabilities & Shareholders Equity	$734.8M	$843.0M	$870.1M
YoY Change	-12.84%	184.36%	178.7%

Cashflow Statement

Concept	2019 Q2	2018 Q2	2018 Q1
OPERATING ACTIVITIES
Net Income	-$9.627M	-$10.33M	$59.82M
YoY Change	-6.83%	103.93%	-2158.43%
Depreciation, Depletion And Amortization	$13.16M	$13.69M	$7.880M
YoY Change	-3.87%	628.19%	280.68%
Cash From Operating Activities	-$19.08M	-$2.000M	$12.67M
YoY Change	854.0%	-53.05%	-0.08%
INVESTING ACTIVITIES
Capital Expenditures	-$2.890M	-$4.310M	-$6.840M
YoY Change	-32.95%	630.51%	365.31%
Acquisitions
YoY Change
Other Investing Activities	$30.00K	$360.0K	-$452.7M
YoY Change	-91.67%	-85.0%	-8609.02%
Cash From Investing Activities	-$2.860M	-$3.950M	-$459.5M
YoY Change	-27.59%	-318.23%	-12035.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-49.92M	-2.210M	432.7M
YoY Change	2158.82%	5425.0%	-6462.79%
NET CHANGE
Cash From Operating Activities	-19.08M	-2.000M	12.67M
Cash From Investing Activities	-2.860M	-3.950M	-459.5M
Cash From Financing Activities	-49.92M	-2.210M	432.7M
Net Change In Cash	-71.86M	-8.160M	-14.18M
YoY Change	780.64%	227.71%	-245.73%
FREE CASH FLOW
Cash From Operating Activities	-$19.08M	-$2.000M	$12.67M
Capital Expenditures	-$2.890M	-$4.310M	-$6.840M
Free Cash Flow	-$16.19M	$2.310M	$19.51M
YoY Change	-800.87%	-162.94%	37.88%

Facts In Submission

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	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--07-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2019
	dei	Document Period End Date DocumentPeriodEndDate	2019-04-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000914712
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	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.75
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Registrant Name EntityRegistrantName	Steel Connect, Inc.
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Trading Symbol TradingSymbol	STCN
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CY2019Q1	us-gaap	Debt Instrument Redemption Price Percentage DebtInstrumentRedemptionPricePercentage	1
CY2019Q1	us-gaap	Debt Instrument Redemption Price Percentage DebtInstrumentRedemptionPricePercentage	1.00
CY2019Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards Domestic DeferredTaxAssetsOperatingLossCarryforwardsDomestic	2100000000	USD
CY2019Q2	us-gaap	Deferred Tax Assets Operating Loss Carryforwards State And Local DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal	150600000	USD
CY2019Q2	us-gaap	Defined Benefit Plan Weighted Average Asset Allocations DefinedBenefitPlanWeightedAverageAssetAllocations	1
	us-gaap	Depreciation Depreciation	11388000	USD
	us-gaap	Depreciation Depreciation	16331000	USD
CY2018Q2	us-gaap	Dividends Preferred Stock Stock DividendsPreferredStockStock	529000	USD
CY2019Q2	us-gaap	Dividends Preferred Stock Stock DividendsPreferredStockStock	525000	USD
CY2018Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.18
CY2019Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.17
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.50
CY2018Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.18
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	0.75
CY2019Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.17
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.50
CY2018Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.18
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.63
CY2019Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.17
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.50
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	714000	USD
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-239000	USD
CY2018Q3	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	25603000	USD
CY2019Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	20113000	USD
CY2019Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions	500000	USD
CY2018Q2	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	700000	USD
CY2018Q2	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	720000	USD
	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-1351000	USD
	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-1400000	USD
CY2019Q2	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-33000	USD
	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-600000	USD
	us-gaap	Foreign Currency Transaction Gain Loss Realized ForeignCurrencyTransactionGainLossRealized	-601000	USD
CY2018Q2	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	0	USD
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	12692000	USD
CY2019Q2	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	0	USD
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	85000	USD
CY2018Q3	us-gaap	Goodwill Goodwill	254352000	USD
CY2019Q2	us-gaap	Goodwill Goodwill	257128000	USD
CY2018Q2	us-gaap	Gross Profit GrossProfit	39005000	USD
	us-gaap	Gross Profit GrossProfit	63902000	USD
CY2019Q2	us-gaap	Gross Profit GrossProfit	36861000	USD
	us-gaap	Gross Profit GrossProfit	112604000	USD
CY2018Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-9818000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-28072000	USD
CY2019Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-8229000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-24831000	USD
CY2018Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	200000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	601000	USD
CY2019Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	22000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	42000	USD
CY2018Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	715000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-71719000	USD
CY2019Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1420000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3956000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-30600000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	15111000	USD
	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	75775000	USD
	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-1563000	USD
	us-gaap	Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable	9123000	USD
	us-gaap	Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable	-2059000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-16350000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-859000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	13882000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	6252000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-1483000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-3548000	USD
CY2018Q2	us-gaap	Interest Expense InterestExpense	10680000	USD
	us-gaap	Interest Expense InterestExpense	19362000	USD
CY2019Q2	us-gaap	Interest Expense InterestExpense	10294000	USD
	us-gaap	Interest Expense InterestExpense	32335000	USD
CY2018Q3	us-gaap	Interest Payable Current InterestPayableCurrent	1437000	USD
CY2019Q2	us-gaap	Interest Payable Current InterestPayableCurrent	287000	USD
CY2018Q3	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	8431000	USD
CY2019Q2	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	2682000	USD
CY2018Q3	us-gaap	Inventory Net InventoryNet	47786000	USD
CY2019Q2	us-gaap	Inventory Net InventoryNet	25404000	USD
CY2018Q3	us-gaap	Inventory Net InventoryNet	26553000	USD
CY2018Q3	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	23208000	USD
CY2019Q2	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	22262000	USD
CY2018Q3	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	16147000	USD
CY2019Q2	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	460000	USD
CY2018Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	174000	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	517000	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	430000	USD
CY2019Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	22000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	1334000	USD
CY2018Q3	us-gaap	Liabilities Liabilities	684230000	USD
CY2019Q2	us-gaap	Liabilities Liabilities	607166000	USD
CY2018Q3	us-gaap	Liabilities Liabilities	680900000	USD
CY2018Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	827050000	USD
CY2019Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	734750000	USD
CY2018Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	829858000	USD
CY2018Q3	us-gaap	Liabilities Current LiabilitiesCurrent	276356000	USD
CY2019Q2	us-gaap	Liabilities Current LiabilitiesCurrent	220499000	USD
CY2018Q3	us-gaap	Liabilities Current LiabilitiesCurrent	273026000	USD
CY2018Q3	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	407874000	USD
CY2019Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	386667000	USD
CY2018Q3	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	0	USD
CY2019Q2	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	10000000	USD
CY2019Q2	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	10000000	USD
CY2018Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	5727000	USD
CY2019Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	5729000	USD
CY2018Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	383111000	USD
CY2019Q2	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	369938000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	430379000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-57758000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-447708000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-11779000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	2995000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3616000	USD
CY2018Q2	us-gaap	Net Income Loss NetIncomeLoss	-10333000	USD
	us-gaap	Net Income Loss NetIncomeLoss	44248000	USD
CY2019Q2	us-gaap	Net Income Loss NetIncomeLoss	-9627000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-28745000	USD
CY2018Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-10862000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	43449000	USD
CY2019Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-10152000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-30343000	USD
CY2018Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-10862000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	49485000	USD
CY2019Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-10152000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-30343000	USD
CY2018Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-11198000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-19919000	USD
CY2019Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-10386000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-32650000	USD
CY2018Q3	us-gaap	Notes Payable NotesPayable	64530000	USD
CY2018Q3	us-gaap	Notes Payable Fair Value Disclosure NotesPayableFairValueDisclosure	66658000	USD
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	5	segment
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	5	segment
CY2018Q2	us-gaap	Operating Expenses OperatingExpenses	37625000	USD
	us-gaap	Operating Expenses OperatingExpenses	72055000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	0	USD
CY2019Q2	us-gaap	Operating Expenses OperatingExpenses	34704000	USD
	us-gaap	Operating Expenses OperatingExpenses	104785000	USD
CY2018Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	1380000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-8153000	USD
CY2019Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	2157000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	7819000	USD
CY2018Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	20260000	USD
CY2019Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	18653000	USD
CY2018Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	8821000	USD
CY2019Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	8125000	USD
CY2018Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-1411000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	2515000	USD
CY2019Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-608000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-276000	USD
CY2018Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-1437000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	2531000	USD
CY2019Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-605000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-426000	USD
CY2018Q2	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	0	USD
	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	-26000	USD
CY2019Q2	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	0	USD
	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	64000	USD
CY2018Q2	us-gaap	Other Comprehensive Income Other Net Of Tax OtherComprehensiveIncomeOtherNetOfTax	-1412000	USD
	us-gaap	Other Comprehensive Income Other Net Of Tax OtherComprehensiveIncomeOtherNetOfTax	-1512000	USD
CY2019Q2	us-gaap	Other Comprehensive Income Other Net Of Tax OtherComprehensiveIncomeOtherNetOfTax	-81000	USD
	us-gaap	Other Comprehensive Income Other Net Of Tax OtherComprehensiveIncomeOtherNetOfTax	-231000	USD
CY2018Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-26000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-10000	USD
CY2019Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	3000	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-86000	USD
CY2018Q3	us-gaap	Other Intangible Assets Net OtherIntangibleAssetsNet	192964000	USD
CY2019Q2	us-gaap	Other Intangible Assets Net OtherIntangibleAssetsNet	169796000	USD
CY2018Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	42029000	USD
CY2019Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	43753000	USD
CY2018Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	38699000	USD
CY2018Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	10507000	USD
CY2019Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	9707000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	13137000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-832000	USD
CY2018Q2	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	-692000	USD
	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	-987000	USD
CY2019Q2	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	-114000	USD
	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	-832000	USD
CY2018Q3	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	10509000	USD
CY2019Q2	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	6014000	USD
	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	612000	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	469221000	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	13610000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	11840000	USD
CY2018Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	1598000	USD
CY2019Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2018Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4965000	shares
CY2019Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4965000	shares
CY2018Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2019Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2018Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2019Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2018Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2019Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2018Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	13415000	USD
CY2019Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	33399000	USD
CY2018Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	37456000	USD
	us-gaap	Proceeds From Contributions From Affiliates ProceedsFromContributionsFromAffiliates	601000	USD
	us-gaap	Proceeds From Contributions From Affiliates ProceedsFromContributionsFromAffiliates	42000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	3000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	15000	USD
	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	35000000	USD
	us-gaap	Proceeds From Issuance Of Preferred Stock And Preference Stock ProceedsFromIssuanceOfPreferredStockAndPreferenceStock	0	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	0	USD
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	14940000	USD
	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	6000000	USD
	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	10000000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	20747000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	19000	USD
	us-gaap	Proceeds From Sale Of Trading Securities Heldforinvestment ProceedsFromSaleOfTradingSecuritiesHeldforinvestment	13775000	USD
	us-gaap	Proceeds From Sale Of Trading Securities Heldforinvestment ProceedsFromSaleOfTradingSecuritiesHeldforinvestment	0	USD
	us-gaap	Profit Loss ProfitLoss	44248000	USD
	us-gaap	Profit Loss ProfitLoss	-28745000	USD
CY2018Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	106632000	USD
CY2019Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	97260000	USD
CY2018Q3	us-gaap	Redeemable Noncontrolling Interest Equity Preferred Carrying Amount RedeemableNoncontrollingInterestEquityPreferredCarryingAmount	35192000	USD
CY2019Q2	us-gaap	Redeemable Noncontrolling Interest Equity Preferred Carrying Amount RedeemableNoncontrollingInterestEquityPreferredCarryingAmount	35198000	USD
CY2018Q2	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	529000	USD
	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	799000	USD
CY2019Q2	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	525000	USD
	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	1598000	USD
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	0	USD
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	63925000	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	178000	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	114000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1500000	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	13376000	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	0	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	3700000	USD
CY2018Q3	us-gaap	Restricted Cash RestrictedCash	11688000	USD
CY2019Q2	us-gaap	Restricted Cash RestrictedCash	10070000	USD
CY2018Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7363569000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	9657000	USD
CY2019Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7387774000	USD
CY2018Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7357431000	USD
CY2018Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	193921000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	450181000	USD
CY2019Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	194003000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	615359000	USD
CY2019Q2	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	2900000	USD
CY2019Q2	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	100000	USD
CY2019Q2	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P12Y
CY2019Q2	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2018Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	29661000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	72676000	USD
CY2019Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	27426000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	81702000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1174000	USD
CY2019Q2	us-gaap	Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit	0	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	0	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Gross StockIssuedDuringPeriodValueRestrictedStockAwardGross	47000	USD
CY2017Q3	us-gaap	Stockholders Equity StockholdersEquity	62971000	USD
CY2018Q1	us-gaap	Stockholders Equity StockholdersEquity	128697000	USD
CY2018Q2	us-gaap	Stockholders Equity StockholdersEquity	118658000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	107628000	USD
CY2019Q1	us-gaap	Stockholders Equity StockholdersEquity	94537000	USD
CY2019Q2	us-gaap	Stockholders Equity StockholdersEquity	92386000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	113766000	USD
CY2018Q2	us-gaap	Trading Securities Realized Gain Loss TradingSecuritiesRealizedGainLoss	0	USD
	us-gaap	Trading Securities Realized Gain Loss TradingSecuritiesRealizedGainLoss	1876000	USD
CY2019Q2	us-gaap	Trading Securities Realized Gain Loss TradingSecuritiesRealizedGainLoss	0	USD
	us-gaap	Trading Securities Realized Gain Loss TradingSecuritiesRealizedGainLoss	0	USD
CY2019Q2	us-gaap	Unrecognized Tax Benefits Income Tax Penalties Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued	100000	USD
CY2018Q3	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	100000	USD
CY2019Q2	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	100000	USD
CY2018Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	20653000	shares
CY2019Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
CY2018Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	60076000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	78934000	shares
CY2019Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	61393000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	61111000	shares
CY2018Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	60076000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	58281000	shares
CY2019Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	61393000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	61111000	shares
CY2018Q3	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	6126000	USD
CY2019Q2	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	5078000	USD
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of a normal recurring nature) considered necessary for fair presentation have been included. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes for the year ended </font><font style="font-family:inherit;font-size:10pt;">July 31, 2018</font><font style="font-family:inherit;font-size:10pt;">, which are contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on December 4, 2018. The results for the three and nine months ended </font><font style="font-family:inherit;font-size:10pt;">April 30, 2019</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results to be expected for the full fiscal year. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All significant intercompany transactions and balances have been eliminated in consolidation.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company considers events or transactions that occur after the balance sheet date but before the issuance of financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. For the period ended </font><font style="font-family:inherit;font-size:10pt;">April 30, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company evaluated subsequent events for potential recognition and disclosure through the date these financial statements were filed.</font></div></div>
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF OPERATIONS</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Steel Connect, Inc. (“Steel Connect” or the “Company”) together with its consolidated subsidiaries, operates through its wholly owned subsidiaries, ModusLink Corporation and ModusLink PTS, Inc. (together “ModusLink” or “Supply Chain“), and IWCO Direct Holdings, Inc. (“IWCO Direct” or “IWCO”). The Company was formerly known as ModusLink Global Solutions, Inc. until it changed its name to Steel Connect, Inc. effective February 27, 2018.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ModusLink is a supply chain business process management company serving clients in markets such as consumer electronics, communications, computing, medical devices, software, and retail. ModusLink designs and executes elements in its clients’ global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. The Company also produces and licenses an entitlement management solution for activation, provisioning, entitlement subscription and data collection from physical goods (connected products) and digital products.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ModusLink has an integrated network of strategically located facilities with </font><font style="font-family:inherit;font-size:10pt;">20</font><font style="font-family:inherit;font-size:10pt;"> sites operating in </font><font style="font-family:inherit;font-size:10pt;">21</font><font style="font-family:inherit;font-size:10pt;"> languages in various countries, including numerous sites throughout North America, Europe and Asia. The Company previously operated under the names ModusLink Global Solutions, Inc., CMGI, Inc. and CMG Information Services, Inc. and was incorporated in Delaware in 1986.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">IWCO Direct delivers data-driven marketing solutions for its customers. Its full range of services includes strategy, creative and execution for omnichannel marketing campaigns, along with postal logistics programs for direct mail. Through its Mail-Gard</font><font style="font-family:inherit;font-size:9pt;">®</font><font style="font-family:inherit;font-size:10pt;"> division, IWCO Direct also offers business continuity and disaster recovery services to protect against unexpected business interruptions, along with providing print and mail outsourcing services.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">IWCO has administrative offices in Chanhassen, MN. and has </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> facilities in Chanhassen, MN., </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> facility in Little Falls, MN., </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> facility in Warminster, PA. and </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> facilities in Hamburg PA.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Historically, the Company has financed its operations and met its capital requirements primarily through funds generated from operations, the sale of our securities, borrowings from lending institutions, and sale of facilities that were not fully utilized. The Company believes it has access to adequate resources to meet its needs for normal operating costs, capital expenditures, mandatory debt redemptions and working capital for its existing business for at least twelve months from the date of this filing. These resources include cash and cash equivalents, a credit agreement with PNC Bank (the “Credit Agreement”) the possible securitization of European and domestic trade receivables, the revolving credit facility and cash, if any, provided by operating activities.</font></div><div style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;">April 30, 2019</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">July 31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company had cash and cash equivalents of </font><font style="font-family:inherit;font-size:10pt;">$20.4 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$92.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. As of </font><font style="font-family:inherit;font-size:10pt;">April 30, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had a deficiency in working capital which was primarily driven by the Company's </font><font style="font-family:inherit;font-size:10pt;">$10.0 million</font><font style="font-family:inherit;font-size:10pt;"> outstanding on the revolving credit facility, accrued pricing liabilities which the Company believes will not require a cash outlay in the next twelve months and the additional liabilities assumed because of the acquisition of IWCO Direct during December 2017 (the "IWCO Acquisition"). At </font><font style="font-family:inherit;font-size:10pt;">April 30, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had a readily available borrowing capacity under its revolving credit and security agreement with PNC Bank, National Association of </font><font style="font-family:inherit;font-size:10pt;">$12.5 million</font><font style="font-family:inherit;font-size:10pt;">. At </font><font style="font-family:inherit;font-size:10pt;">April 30, 2019</font><font style="font-family:inherit;font-size:10pt;">, IWCO had a readily available borrowing capacity under its revolving credit facility by and among MLGS Merger Company, Inc. (“MLGS”), Instant Web, LLC and Cerberus Business Finance, LLC of </font><font style="font-family:inherit;font-size:10pt;">$15.0 million</font><font style="font-family:inherit;font-size:10pt;">. Per that certain financing agreement by and among MLGS, Instant Web, LLC, IWCO and Cerberus Business Finance, LLC (the “Financing Agreement”) and the credit facilities provided thereunder, IWCO is permitted to make distributions to Steel Connect, an aggregate amount not to exceed </font><font style="font-family:inherit;font-size:10pt;">$5.0 million</font><font style="font-family:inherit;font-size:10pt;"> in any fiscal year and pay reasonable documented expenses incurred by Steel Connect. Steel Connect is entitled to receive additional cash remittances under a “U.S. Federal Income Tax Sharing Agreement.” The Company believes it will generate sufficient cash to meet its debt covenants under the Credit Agreement and the Financing Agreement to which certain of its subsidiaries are a party and that it will be able to obtain cash through its current credit facilities and through securitization of certain trade receivables, if needed. As discussed below, the Company's </font><font style="font-family:inherit;font-size:10pt;">5.25%</font><font style="font-family:inherit;font-size:10pt;"> Convertible Senior Notes (the "Notes") matured on March 1, 2019, with a balance due of </font><font style="font-family:inherit;font-size:10pt;">$65.6 million</font><font style="font-family:inherit;font-size:10pt;">, including interest to the March 1, 2019 maturity date. The total </font><font style="font-family:inherit;font-size:10pt;">$65.6</font><font style="font-family:inherit;font-size:10pt;"> million balance due was paid in full by the Company from available cash on-hand and </font><font style="font-family:inherit;font-size:10pt;">$14.9</font><font style="font-family:inherit;font-size:10pt;"> million from the proceeds of the </font><font style="font-family:inherit;font-size:10pt;">7.50%</font><font style="font-family:inherit;font-size:10pt;"> Convertible Senior Note (the "SPHG Note") transaction entered into on February 28, 2019 (the "SPHG Note Transaction"). The Company’s historical operating results and working capital deficit indicate substantial doubt exists related to the Company’s ability to continue as a going concern. The Company believes that the resources it has in place and has access to, as discussed above, are probable of occurring and mitigating the substantial doubt raised by the Company’s historical operating results and satisfying the Company’s estimated liquidity needs </font><font style="font-family:inherit;font-size:10pt;">12 months</font><font style="font-family:inherit;font-size:10pt;"> from the issuance of the financial statements. However, the Company cannot predict, with certainty, the outcome of its actions to generate liquidity, including the availability of additional debt refinancing or factoring of receivables, or whether such actions would generate the expected liquidity as currently planned.</font></div></div>

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$STCN
Steel Connect, Inc. Stock $stcn

2019 Q2 Form 10-Q Financial Statement

#000162828019007673 Filed on June 06, 2019

Income Statement

Balance Sheet

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Files In Submission

$STCN Steel Connect, Inc. Stock $stcn

2019 Q2 Form 10-Q Financial Statement

#000162828019007673 Filed on June 06, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$STCN
Steel Connect, Inc. Stock $stcn