$STCN
Steel Connect, Inc. Stock $stcn

$stcn Overview Financials Valuation SEC Filings Company Website

2020 Q2 Form 10-Q Financial Statement

#000162828020009133 Filed on June 08, 2020

Income Statement

Concept	2020 Q2	2019 Q2	2019 Q1
Revenue	$177.4M	$194.0M	$206.2M
YoY Change	-8.58%	0.04%	34.14%
Cost Of Revenue	$143.9M	$157.1M	$168.7M
YoY Change	-8.44%	1.44%	22.31%
Gross Profit	$33.47M	$36.86M	$37.54M
YoY Change	-9.2%	-5.5%	137.27%
Gross Profit Margin	18.87%	19.0%	18.21%
Selling, General & Admin	$25.87M	$27.43M	$27.63M
YoY Change	-5.67%	-7.54%	-8.25%
% of Gross Profit	77.3%	74.4%	73.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$12.40M	$13.16M	$12.71M
YoY Change	-5.78%	-3.87%	61.29%
% of Gross Profit	37.05%	35.7%	33.85%
Operating Expenses	$32.40M	$34.70M	$35.42M
YoY Change	-6.63%	-7.76%	64.53%
Operating Profit	$1.067M	$2.157M	$2.126M
YoY Change	-50.53%	56.3%	-137.28%
Interest Expense	$8.523M	$10.29M	$10.98M
YoY Change	-17.2%	-3.61%	67.06%
% of Operating Profit	798.78%	477.24%	516.65%
Other Income/Expense, Net	-$5.741M	-$10.39M	-$12.47M
YoY Change	-44.72%	-7.25%	52.12%
Pretax Income	-$4.674M	-$8.229M	-$10.35M
YoY Change	-43.2%	-16.18%	-25.57%
Income Tax	$1.485M	$1.420M	$1.405M
% Of Pretax Income
Net Earnings	-$6.159M	-$9.627M	-$11.75M
YoY Change	-36.02%	-6.83%	-119.65%
Net Earnings / Revenue	-3.47%	-4.96%	-5.7%
Basic Earnings Per Share	-$0.11	-$0.17	-$0.20
Diluted Earnings Per Share	-$0.11	-$0.17	-$0.20
COMMON SHARES
Basic Shares Outstanding	61.82M shares	61.39M shares	60.94M shares
Diluted Shares Outstanding	61.82M shares	61.39M shares	60.94M shares

Balance Sheet

Concept	2020 Q2	2019 Q2	2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$90.20M	$20.40M	$92.90M
YoY Change	342.16%	-79.54%	-12.69%
Cash & Equivalents	$90.19M	$20.36M	$92.90M
Short-Term Investments
Other Short-Term Assets	$41.50M	$43.50M	$42.60M
YoY Change	-4.6%	76.11%	40.59%
Inventory	$19.52M	$25.40M	$29.43M
Prepaid Expenses
Receivables	$83.00M	$113.2M	$103.4M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$234.3M	$202.4M	$268.3M
YoY Change	15.71%	-25.08%	-8.36%
LONG-TERM ASSETS
Property, Plant & Equipment	$85.10M	$97.26M	$100.5M
YoY Change	-12.5%	-6.28%	-4.69%
Goodwill	$257.1M	$257.1M	$257.1M
YoY Change	0.0%	0.69%	0.69%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$7.900M	$8.125M	$8.095M
YoY Change	-2.77%	-45.21%	34.05%
Total Long-Term Assets	$550.4M	$532.3M	$542.8M
YoY Change	3.4%	-7.07%	-6.04%
TOTAL ASSETS
Total Short-Term Assets	$234.3M	$202.4M	$268.3M
Total Long-Term Assets	$550.4M	$532.3M	$542.8M
Total Assets	$784.7M	$734.8M	$811.0M
YoY Change	6.79%	-12.84%	-6.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$74.27M	$83.23M	$84.60M
YoY Change	-10.77%	5.43%	-0.48%
Accrued Expenses	$107.9M	$77.71M	$88.34M
YoY Change	38.87%	-9.4%	18.3%
Deferred Revenue	$3.810M	$2.900M
YoY Change	31.38%
Short-Term Debt	$25.00M	$10.00M	$0.00
YoY Change	150.0%
Long-Term Debt Due	$4.016M	$5.729M	$5.729M
YoY Change	-29.9%	0.03%	0.07%
Total Short-Term Liabilities	$274.4M	$220.5M	$276.2M
YoY Change	24.46%	-24.74%	24.33%
LONG-TERM LIABILITIES
Long-Term Debt	$375.7M	$369.9M	$380.2M
YoY Change	1.56%	-3.8%	-1.48%
Other Long-Term Liabilities	$9.464M	$9.707M	$10.02M
YoY Change	-2.5%	-16.8%	-21.04%
Total Long-Term Liabilities	$430.9M	$386.7M	$405.1M
YoY Change	11.44%	-2.41%	-15.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$274.4M	$220.5M	$276.2M
Total Long-Term Liabilities	$430.9M	$386.7M	$405.1M
Total Liabilities	$705.3M	$607.2M	$681.3M
YoY Change	16.17%	-11.9%	-3.56%
SHAREHOLDERS EQUITY
Retained Earnings	-$7.433B	-$7.388B	-$7.378B
YoY Change	0.61%	0.44%	0.45%
Common Stock	$624.0K	$618.0K	$618.0K
YoY Change	0.97%	1.64%	2.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$44.15M	$92.39M	$94.54M
YoY Change
Total Liabilities & Shareholders Equity	$784.7M	$734.8M	$811.0M
YoY Change	6.79%	-12.84%	-6.79%

Cashflow Statement

Concept	2020 Q2	2019 Q2	2019 Q1
OPERATING ACTIVITIES
Net Income	-$6.159M	-$9.627M	-$11.75M
YoY Change	-36.02%	-6.83%	-119.65%
Depreciation, Depletion And Amortization	$12.40M	$13.16M	$12.71M
YoY Change	-5.78%	-3.87%	61.29%
Cash From Operating Activities	$45.18M	-$19.08M	$12.93M
YoY Change	-336.79%	854.0%	2.05%
INVESTING ACTIVITIES
Capital Expenditures	-$1.110M	-$2.890M	-$4.940M
YoY Change	-61.59%	-32.95%	-27.78%
Acquisitions
YoY Change
Other Investing Activities	-$10.00K	$30.00K	$0.00
YoY Change	-133.33%	-91.67%	-100.0%
Cash From Investing Activities	-$1.120M	-$2.860M	-$4.950M
YoY Change	-60.84%	-27.59%	-98.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	17.93M	-49.92M	-1.960M
YoY Change	-135.92%	2158.82%	-100.45%
NET CHANGE
Cash From Operating Activities	45.18M	-19.08M	12.93M
Cash From Investing Activities	-1.120M	-2.860M	-4.950M
Cash From Financing Activities	17.93M	-49.92M	-1.960M
Net Change In Cash	61.99M	-71.86M	6.020M
YoY Change	-186.26%	780.64%	-142.45%
FREE CASH FLOW
Cash From Operating Activities	$45.18M	-$19.08M	$12.93M
Capital Expenditures	-$1.110M	-$2.890M	-$4.940M
Free Cash Flow	$46.29M	-$16.19M	$17.87M
YoY Change	-385.92%	-800.87%	-8.41%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	us-gaap	Investment Income Interest InvestmentIncomeInterest	38000	USD
CY2019Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	7278000	USD
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	23168000	USD
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--07-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2020
	dei	Document Period End Date DocumentPeriodEndDate	2020-04-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0000914712
CY2020Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	62383678	shares
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Registrant Name EntityRegistrantName	Steel Connect, Inc.
	dei	Entity Shell Company EntityShellCompany	false
	dei	Entity Small Business EntitySmallBusiness	true
CY2019Q3	mlnk	Accrued Contract Labor Current AccruedContractLaborCurrent	1650000	USD
CY2019Q3	mlnk	Accrued Taxes AccruedTaxes	59057000	USD
CY2020Q2	mlnk	Accrued Taxes AccruedTaxes	56722000	USD
CY2020Q2	mlnk	Accrued Taxes AccruedTaxes	56700000	USD
CY2020Q2	mlnk	Accrued Contract Labor Current AccruedContractLaborCurrent	826000	USD
CY2019Q3	mlnk	Accrued Pricing Liabilities Current AccruedPricingLiabilitiesCurrent	14300000	USD
CY2019Q3	mlnk	Accrued Pricing Liabilities Current AccruedPricingLiabilitiesCurrent	14309000	USD
CY2020Q2	mlnk	Accrued Pricing Liabilities Current AccruedPricingLiabilitiesCurrent	14300000	USD
CY2020Q2	mlnk	Accrued Pricing Liabilities Current AccruedPricingLiabilitiesCurrent	14309000	USD
CY2019Q3	mlnk	Accrued Taxes AccruedTaxes	59100000	USD
CY2019Q3	mlnk	Customer Postage Deposits Current CustomerPostageDepositsCurrent	11816000	USD
CY2020Q2	mlnk	Customer Postage Deposits Current CustomerPostageDepositsCurrent	7697000	USD
CY2020Q2	mlnk	Deferred Employer Paid Portion Of Social Security Taxes DeferredEmployerPaidPortionOfSocialSecurityTaxes	4000000	USD
	mlnk	Income Loss From Equity Method Investments And Impairment Of Investments IncomeLossFromEquityMethodInvestmentsAndImpairmentOfInvestments	42000	USD
	mlnk	Income Loss From Equity Method Investments And Impairment Of Investments IncomeLossFromEquityMethodInvestmentsAndImpairmentOfInvestments	0	USD
	mlnk	Increase Decrease In Accounts Payable Accrued Restructuring And Accrued Expenses IncreaseDecreaseInAccountsPayableAccruedRestructuringAndAccruedExpenses	-2795000	USD
	mlnk	Increase Decrease In Accounts Payable Accrued Restructuring And Accrued Expenses IncreaseDecreaseInAccountsPayableAccruedRestructuringAndAccruedExpenses	-14547000	USD
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CY2019Q3	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	1034000	USD
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	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	2741000	USD
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	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	703000	USD
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CY2020Q2	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	3810000	USD
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	us-gaap	Depreciation Depreciation	16331000	USD
	us-gaap	Depreciation Depreciation	17240000	USD
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	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-239000	USD
	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-798000	USD
CY2019Q3	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	22584000	USD
CY2020Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	21526000	USD
CY2020Q2	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	1000	USD
	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	9000	USD
	us-gaap	Finance Lease Interest Payment On Liability FinanceLeaseInterestPaymentOnLiability	7000	USD
CY2020Q2	us-gaap	Finance Lease Liability FinanceLeaseLiability	193000	USD
CY2020Q2	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	70000	USD
CY2020Q2	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	123000	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Due FinanceLeaseLiabilityPaymentsDue	208000	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Due After Year Five FinanceLeaseLiabilityPaymentsDueAfterYearFive	0	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Due Year Five FinanceLeaseLiabilityPaymentsDueYearFive	0	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Due Year Four FinanceLeaseLiabilityPaymentsDueYearFour	37000	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Due Year Three FinanceLeaseLiabilityPaymentsDueYearThree	76000	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Due Year Two FinanceLeaseLiabilityPaymentsDueYearTwo	76000	USD
CY2020Q2	us-gaap	Finance Lease Liability Payments Remainder Of Fiscal Year FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear	19000	USD
CY2020Q2	us-gaap	Finance Lease Liability Undiscounted Excess Amount FinanceLeaseLiabilityUndiscountedExcessAmount	15000	USD
	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	83000	USD
CY2020Q2	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	2000	USD
	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	38000	USD
CY2020Q2	us-gaap	Finance Lease Weighted Average Discount Rate Percent FinanceLeaseWeightedAverageDiscountRatePercent	0.038
CY2020Q2	us-gaap	Finance Lease Weighted Average Remaining Lease Term1 FinanceLeaseWeightedAverageRemainingLeaseTerm1	P2Y8M25D
CY2019Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	50732000	USD
CY2020Q2	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	71451000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	213250000	USD
CY2019Q2	us-gaap	Funds Held For Clients FundsHeldForClients	10070000	USD
CY2020Q2	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	213250000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	162518000	USD
CY2020Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	141799000	USD
CY2020Q2	us-gaap	Funds Held For Clients FundsHeldForClients	17198000	USD
CY2019Q3	us-gaap	Goodwill Goodwill	257128000	USD
CY2020Q2	us-gaap	Goodwill Goodwill	257128000	USD
CY2019Q2	us-gaap	Gross Profit GrossProfit	36861000	USD
	us-gaap	Gross Profit GrossProfit	112604000	USD
CY2020Q2	us-gaap	Gross Profit GrossProfit	33470000	USD
	us-gaap	Gross Profit GrossProfit	122965000	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
CY2020Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-4674000	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-896000	USD
CY2019Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	22000	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	42000	USD
CY2020Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	0	USD
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	0	USD
CY2019Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1420000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3956000	USD
CY2020Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1485000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	4028000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	15111000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-28492000	USD
	us-gaap	Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable	-2059000	USD
	us-gaap	Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable	-793000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-859000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-3847000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	4689000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	-2882000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-3548000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-7538000	USD
CY2019Q2	us-gaap	Interest Expense InterestExpense	10294000	USD
	us-gaap	Interest Expense InterestExpense	32335000	USD
CY2020Q2	us-gaap	Interest Expense InterestExpense	8523000	USD
	us-gaap	Interest Expense InterestExpense	26425000	USD
CY2019Q3	us-gaap	Interest Payable Current InterestPayableCurrent	467000	USD
CY2020Q2	us-gaap	Interest Payable Current InterestPayableCurrent	180000	USD
CY2019Q3	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1765000	USD
CY2020Q2	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1153000	USD
CY2019Q3	us-gaap	Inventory Net InventoryNet	23674000	USD
CY2020Q2	us-gaap	Inventory Net InventoryNet	19522000	USD
CY2019Q3	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	21322000	USD
CY2020Q2	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	18060000	USD
CY2019Q3	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	587000	USD
CY2020Q2	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	309000	USD
CY2019Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	22000	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	517000	USD
CY2020Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	8000	USD
CY2020Q2	us-gaap	Lease Cost LeaseCost	4646000	USD
	us-gaap	Lease Cost LeaseCost	14820000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	69014000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	23622000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	5482000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	7786000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	12426000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	15644000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	4054000	USD
CY2020Q2	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	9268000	USD
CY2019Q3	us-gaap	Liabilities Liabilities	643685000	USD
CY2020Q2	us-gaap	Liabilities Liabilities	705340000	USD
CY2019Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	731563000	USD
CY2020Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	784666000	USD
CY2019Q3	us-gaap	Liabilities Current LiabilitiesCurrent	256850000	USD
CY2020Q2	us-gaap	Liabilities Current LiabilitiesCurrent	274430000	USD
CY2019Q3	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	386835000	USD
CY2020Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	430910000	USD
CY2019Q3	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	6000000	USD
CY2020Q2	us-gaap	Lines Of Credit Current LinesOfCreditCurrent	25000000	USD
CY2019Q3	us-gaap	Long Term Debt LongTermDebt	381669000	USD
CY2020Q2	us-gaap	Long Term Debt LongTermDebt	379627000	USD
CY2019Q3	us-gaap	Long Term Debt Current LongTermDebtCurrent	5732000	USD
CY2020Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	4016000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-57758000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	13372000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-11779000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-11302000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3616000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	60051000	USD
CY2019Q2	us-gaap	Net Income Loss NetIncomeLoss	-9627000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-28745000	USD
CY2020Q2	us-gaap	Net Income Loss NetIncomeLoss	-6159000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-4924000	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
CY2020Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-6684000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-6516000	USD
CY2019Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-10386000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-32650000	USD
CY2020Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-5741000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-23878000	USD
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	2	segment
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	2	segment
CY2019Q2	us-gaap	Operating Expenses OperatingExpenses	34704000	USD
	us-gaap	Operating Expenses OperatingExpenses	104785000	USD
CY2020Q2	us-gaap	Operating Expenses OperatingExpenses	32403000	USD
	us-gaap	Operating Expenses OperatingExpenses	99983000	USD
CY2019Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	2157000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	7819000	USD
CY2020Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	1067000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	22982000	USD
CY2020Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	2837000	USD
	us-gaap	Operating Lease Cost OperatingLeaseCost	12469000	USD
CY2020Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	59746000	USD
CY2020Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	14034000	USD
CY2020Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	45712000	USD
	us-gaap	Operating Lease Payments OperatingLeasePayments	11677000	USD
CY2020Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	58487000	USD
CY2020Q2	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.044
CY2020Q2	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P6Y4M0D
CY2019Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	21203000	USD
CY2020Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	20048000	USD
CY2019Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	7325000	USD
CY2020Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	7900000	USD
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-86000	USD
	us-gaap	Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent	-96000	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
CY2020Q2	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-3064000	USD
	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-2387000	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
CY2020Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-3193000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-2614000	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
CY2020Q2	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	129000	USD
	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	131000	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
CY2020Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	0	USD
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-96000	USD
CY2019Q3	us-gaap	Other Intangible Assets Net OtherIntangibleAssetsNet	162518000	USD
CY2020Q2	us-gaap	Other Intangible Assets Net OtherIntangibleAssetsNet	141799000	USD
CY2019Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	38919000	USD
CY2020Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	56925000	USD
CY2019Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	10898000	USD
CY2020Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	9464000	USD
CY2019Q3	us-gaap	Other Long Term Debt Noncurrent OtherLongTermDebtNoncurrent	368505000	USD
CY2020Q2	us-gaap	Other Long Term Debt Noncurrent OtherLongTermDebtNoncurrent	366939000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-832000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	2509000	USD
CY2019Q2	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	-114000	USD
	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	-832000	USD
CY2020Q2	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	2774000	USD
	us-gaap	Other Nonoperating Gains Losses OtherNonoperatingGainsLosses	2509000	USD
CY2019Q3	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	6794000	USD
CY2020Q2	us-gaap	Other Sundry Liabilities Current OtherSundryLiabilitiesCurrent	9919000	USD
	us-gaap	Payments For Proceeds From Businesses And Interest In Affiliates PaymentsForProceedsFromBusinessesAndInterestInAffiliates	-42000	USD
	us-gaap	Payments For Proceeds From Businesses And Interest In Affiliates PaymentsForProceedsFromBusinessesAndInterestInAffiliates	0	USD
	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	1598000	USD
	us-gaap	Payments Of Dividends Preferred Stock And Preference Stock PaymentsOfDividendsPreferredStockAndPreferenceStock	1563000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	0	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	914000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	11840000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	11477000	USD
CY2019Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2020Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2019Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4965000	shares
CY2020Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4965000	shares
CY2019Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2020Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2019Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2020Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2019Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2020Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2019Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	31445000	USD
CY2020Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	24341000	USD
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	14940000	USD
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	0	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	15000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	8000	USD
	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	10000000	USD
	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	19000000	USD
	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	0	USD
	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	163000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	19000	USD
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	12000	USD
	us-gaap	Profit Loss ProfitLoss	-28745000	USD
	us-gaap	Profit Loss ProfitLoss	-4924000	USD
CY2019Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	91268000	USD
CY2020Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	85102000	USD
CY2019Q3	us-gaap	Redeemable Noncontrolling Interest Equity Preferred Carrying Amount RedeemableNoncontrollingInterestEquityPreferredCarryingAmount	35186000	USD
CY2020Q2	us-gaap	Redeemable Noncontrolling Interest Equity Preferred Carrying Amount RedeemableNoncontrollingInterestEquityPreferredCarryingAmount	35175000	USD
CY2019Q2	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	525000	USD
	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	1598000	USD
CY2020Q2	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	525000	USD
	us-gaap	Redeemable Preferred Stock Dividends RedeemablePreferredStockDividends	1592000	USD
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	63925000	USD
	us-gaap	Repayments Of Convertible Debt RepaymentsOfConvertibleDebt	0	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	114000	USD
	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	83000	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	3700000	USD
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	0	USD
	us-gaap	Repayments Of Other Long Term Debt RepaymentsOfOtherLongTermDebt	13376000	USD
	us-gaap	Repayments Of Other Long Term Debt RepaymentsOfOtherLongTermDebt	3076000	USD
CY2019Q3	us-gaap	Restricted Cash RestrictedCash	13516000	USD
CY2020Q2	us-gaap	Restricted Cash RestrictedCash	17198000	USD
CY2019Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7426287000	USD
CY2020Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-7432803000	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
CY2020Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	177351000	USD
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	617956000	USD
CY2020Q2	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	3800000	USD
CY2020Q2	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	100000	USD
CY2020Q2	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P12Y
CY2020Q2	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2019Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	27426000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	81617000	USD
CY2020Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	25872000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	79264000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	1174000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	581000	USD
CY2020Q2	us-gaap	Short Term Lease Cost ShortTermLeaseCost	1802000	USD
	us-gaap	Short Term Lease Cost ShortTermLeaseCost	2254000	USD
CY2020Q2	us-gaap	Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit	0	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
CY2019Q3	us-gaap	Stockholders Equity StockholdersEquity	52692000	USD
CY2020Q1	us-gaap	Stockholders Equity StockholdersEquity	53815000	USD
CY2020Q2	us-gaap	Stockholders Equity StockholdersEquity	44151000	USD
CY2019Q3	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	888000	USD
CY2020Q2	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	1094000	USD
CY2020Q2	us-gaap	Unrecognized Tax Benefits Income Tax Penalties Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued	200000	USD
CY2019Q3	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	200000	USD
CY2020Q2	us-gaap	Unrecognized Tax Benefits Interest On Income Taxes Accrued UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued	200000	USD
CY2020Q2	us-gaap	Variable Lease Cost VariableLeaseCost	4000	USD
	us-gaap	Variable Lease Cost VariableLeaseCost	50000	USD
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
CY2020Q2	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	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
CY2020Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	61815000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	61583000	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
CY2020Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	61815000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	61583000	shares
CY2019Q3	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	4549000	USD
CY2020Q2	us-gaap	Workers Compensation Liability Current WorkersCompensationLiabilityCurrent	4698000	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 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 ("U.S. GAAP") 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, 2019</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 on October 15, 2019, as amended by Amendment No. 1 filed on November 26, 2019. The results for the three and </font><font style="font-family:inherit;font-size:10pt;">nine months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">April 30, 2020</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 consolidated 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 </font><font style="font-family:inherit;font-size:10pt;">nine months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">April 30, 2020</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 style="line-height:120%;padding-top:13px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the three months ended October 31, 2019, the Company recorded a </font><font style="font-family:inherit;font-size:10pt;">$6.4 million</font><font style="font-family:inherit;font-size:10pt;"> adjustment to correct an out-of-period misstatement related to the Company's estimate for certain tax related liabilities. Had this correction been recorded for the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">July 31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company's selling, general and administrative expenses and net loss for that period would have been reduced to </font><font style="font-family:inherit;font-size:10pt;">$137.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$60.3 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. The Company's accrued expenses as of </font><font style="font-family:inherit;font-size:10pt;">July 31, 2019</font><font style="font-family:inherit;font-size:10pt;"> would have been reduced to </font><font style="font-family:inherit;font-size:10pt;">$106.3 million</font><font style="font-family:inherit;font-size:10pt;">.</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;">Certain reclassifications have been made to conform prior-period amounts to the current-period presentation.</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. (the "Company") together with its consolidated subsidiaries, operates through its wholly-owned subsidiaries, IWCO Direct Holdings, Inc. ("IWCO Direct" or "IWCO") and ModusLink Corporation ("ModusLink" or "Supply Chain").</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® 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;">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;">Historically, the Company has financed its operations and met its capital requirements primarily through funds generated from operations, the sale of its 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 current cash and cash equivalents, ModusLink's credit agreement with MidCap Financial Trust ("MidCap"), IWCO's revolving credit facility, and cash, if any, provided by operating activities. The Company's expectations regarding its ability to use its existing cash to continue funding its operations are based on assumptions that may prove to be inaccurate, and the Company may require capital resources sooner than currently expected. While the Company believes it will be able to access this additional liquidity based on existing information, the assumptions underlying this belief may also later prove to be inaccurate.</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;">As of </font><font style="font-family:inherit;font-size:10pt;">April 30, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">July 31, 2019</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;">$90.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$32.5 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. As of </font><font style="font-family:inherit;font-size:10pt;">April 30, 2020</font><font style="font-family:inherit;font-size:10pt;">, the Company had a working capital deficit of </font><font style="font-family:inherit;font-size:10pt;">$40.2 million</font><font style="font-family:inherit;font-size:10pt;">, which includes accrued pricing liabilities and certain tax related liabilities which the Company believes will not require a cash outlay in the next twelve months. As of </font><font style="font-family:inherit;font-size:10pt;">April 30, 2020</font><font style="font-family:inherit;font-size:10pt;">, ModusLink had a readily available borrowing capacity under its revolving credit facility of </font><font style="font-family:inherit;font-size:10pt;">$5.7 million</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:inherit;font-size:10pt;">April 30, 2020</font><font style="font-family:inherit;font-size:10pt;">, IWCO Direct had </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> available borrowing capacity under its revolving facility as it had fully borrowed the </font><font style="font-family:inherit;font-size:10pt;">$25.0 million</font><font style="font-family:inherit;font-size:10pt;"> under the facility as part of a comprehensive precautionary approach to increase the Company's cash position and maximize its financial flexibility in light of the current volatility in global markets resulting from the novel Coronavirus ("COVID-19") outbreak. The Company believes it will generate sufficient cash to meet its debt covenants under its credit facilities to which certain of its subsidiaries are a party and that it will be able to obtain cash through its current and future credit facilities, if needed.</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;font-style:italic;">Impact of COVID-19</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;">In March 2020, the World Health Organization categorized the novel Coronavirus ("COVID-19") as a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. The spread of the outbreak has caused significant disruptions in the U.S. and global economies, and economists expect the impact will be significant during the remainder of 2020. The Company is subject to risks and uncertainties as a result of the COVID-19 pandemic. The Company continues to evaluate the global risks and the slowdown in business activity related to COVID-19, including the potential impacts on its employees, customers, suppliers and financial results. The effects of COVID-19 required temporary closures of certain of ModusLink's facilities for short periods of time. Additionally, although IWCO is operating as an essential business, it has reduced operating levels and labor shifts due to lower sales volume. As of the filing of this quarterly report on Form 10-Q, all of the Company's facilities were open and able to operate at normal capacities.</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;">Additionally, to help mitigate the financial impact of the COVID-19 pandemic, the Company has initiated cost reduction actions, including deferral of board fees, hiring freezes, staffing and force reductions, Company-wide salary reductions, bonus payment deferrals and temporary 401(k) match suspension. The Company continues its focus on cash management and liquidity, which includes elimination of discretionary spending, aggressive working capital management, strict approvals for capital expenditures and borrowing from its revolving credit facilities as a precautionary measure to preserve financial flexibility (as further discussed above in this Note 1 and in Note 8 - "Debt"). The Company will evaluate further actions if circumstances warrant.</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;">Currently, the Company anticipates that the impact of the rapid deterioration of the U.S and global economies will most likely continue and have an adverse impact on the Company's business. However, as the situation surrounding COVID-19 remains fluid, it is difficult to predict the duration of the pandemic and the impact on the Company's business, operations, financial condition and cash flows. The severity of the impact on the Company's business for the remainder of fiscal 2020 and beyond will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the extent and severity of the impact on the Company's customers and suppliers, the continued disruption to the demand for our businesses' products and services, and the impact of the global business and economic environment on liquidity and the availability of capital, all of which are uncertain and cannot be predicted. The Company's future results of operations and liquidity could also be adversely impacted by delays in payments of outstanding receivables beyond normal payment terms, supply chain disruptions and uncertain demand, and the effect of any initiatives or programs that the Company may undertake to address financial and operational challenges faced by its customers. There is also no certainty that federal, state or local regulations regarding safety measures to address the spread of COVID-19 will not adversely impact the Company's operations.</font></div></div>

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$STCN
Steel Connect, Inc. Stock $stcn

2020 Q2 Form 10-Q Financial Statement

#000162828020009133 Filed on June 08, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$STCN Steel Connect, Inc. Stock $stcn

2020 Q2 Form 10-Q Financial Statement

#000162828020009133 Filed on June 08, 2020

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$STCN
Steel Connect, Inc. Stock $stcn