2019 Q1 Form 10-Q Financial Statement
#000106299320002162 Filed on May 06, 2020
Income Statement
| Concept | 2019 Q1 |
|---|---|
| Revenue | $180.8M |
| YoY Change | -42.19% |
| Cost Of Revenue | $277.1M |
| YoY Change | -0.67% |
| Gross Profit | $13.71M |
| YoY Change | -59.31% |
| Gross Profit Margin | 7.58% |
| Selling, General & Admin | $26.20M |
| YoY Change | -7.38% |
| % of Gross Profit | 191.16% |
| Research & Development | |
| YoY Change | |
| % of Gross Profit | |
| Depreciation & Amortization | $8.300M |
| YoY Change | 1.95% |
| % of Gross Profit | 60.56% |
| Operating Expenses | $29.30M |
| YoY Change | 3.58% |
| Operating Profit | -$15.59M |
| YoY Change | -388.99% |
| Interest Expense | -$7.600M |
| YoY Change | -192.46% |
| % of Operating Profit | |
| Other Income/Expense, Net | |
| YoY Change | |
| Pretax Income | $35.10M |
| YoY Change | -670.27% |
| Income Tax | $9.500M |
| % Of Pretax Income | 27.07% |
| Net Earnings | $25.65M |
| YoY Change | -687.88% |
| Net Earnings / Revenue | 14.19% |
| Basic Earnings Per Share | $0.27 |
| Diluted Earnings Per Share | $0.26 |
| COMMON SHARES | |
| Basic Shares Outstanding | 87.48M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q1 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $6.000M |
| YoY Change | 106.9% |
| Cash & Equivalents | $6.015M |
| Short-Term Investments | |
| Other Short-Term Assets | $31.50M |
| YoY Change | -17.97% |
| Inventory | $329.9M |
| Prepaid Expenses | |
| Receivables | $120.3M |
| Other Receivables | $7.100M |
| Total Short-Term Assets | $494.8M |
| YoY Change | -6.34% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $239.0M |
| YoY Change | 45.29% |
| Goodwill | |
| YoY Change | |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | $3.300M |
| YoY Change | -58.75% |
| Total Long-Term Assets | $426.9M |
| YoY Change | -5.47% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $494.8M |
| Total Long-Term Assets | $426.9M |
| Total Assets | $921.7M |
| YoY Change | -5.94% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $127.9M |
| YoY Change | -21.39% |
| Accrued Expenses | $17.40M |
| YoY Change | |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $224.0M |
| YoY Change | -5.33% |
| Long-Term Debt Due | $1.800M |
| YoY Change | -17.81% |
| Total Short-Term Liabilities | $381.6M |
| YoY Change | -8.36% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $228.4M |
| YoY Change | 1.25% |
| Other Long-Term Liabilities | $60.20M |
| YoY Change | 2408.33% |
| Total Long-Term Liabilities | $288.6M |
| YoY Change | 27.94% |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $381.6M |
| Total Long-Term Liabilities | $288.6M |
| Total Liabilities | $687.2M |
| YoY Change | 4.25% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | |
| YoY Change | |
| Common Stock | |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $234.6M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $921.7M |
| YoY Change | -5.94% |
Cashflow Statement
| Concept | 2019 Q1 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | $25.65M |
| YoY Change | -687.88% |
| Depreciation, Depletion And Amortization | $8.300M |
| YoY Change | 1.95% |
| Cash From Operating Activities | $990.0K |
| YoY Change | -86.81% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | -$7.970M |
| YoY Change | -218.34% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | $64.88M |
| YoY Change | |
| Cash From Investing Activities | $56.90M |
| YoY Change | -1042.83% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | |
| YoY Change | |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | -$55.10M |
| YoY Change | 2954.16% |
| NET CHANGE | |
| Cash From Operating Activities | 990.0K |
| Cash From Investing Activities | 56.90M |
| Cash From Financing Activities | -$55.10M |
| Net Change In Cash | -$55.10M |
| YoY Change | 16445.65% |
| FREE CASH FLOW | |
| Cash From Operating Activities | $990.0K |
| Capital Expenditures | -$7.970M |
| Free Cash Flow | $8.960M |
| YoY Change | 1062.13% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
| CY2020Q1 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
L5N 2X7 | |
| CY2020Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
00-0000000 | |
| CY2020Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
89170844 | shares |
| CY2020Q1 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
1298000 | USD |
| CY2019Q1 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
43512000 | USD |
| CY2019Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-54000 | USD |
| CY2020Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
88225036 | shares |
| CY2019Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
88089733 | shares |
| CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
-163000 | USD |
| CY2020Q1 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
-2286000 | USD |
| CY2019Q1 | us-gaap |
Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
|
45579000 | USD |
| CY2020Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
-20654000 | USD |
| CY2019Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
-4801000 | USD |
| CY2019Q1 | stkl |
Proceeds On Notes Receivable From Sale Of Business
ProceedsOnNotesReceivableFromSaleOfBusiness
|
64876000 | USD |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-9689000 | USD |
| CY2019Q1 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-54661000 | USD |
| CY2019Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
1852000 | USD |
| CY2020Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
101000 | USD |
| CY2019Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
228000 | USD |
| CY2019Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
314000 | USD |
| CY2020Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-4000 | USD |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-55097000 | USD |
| CY2020Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div> <div> <p style="text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;"><i><b>Basis of Presentation</b></i></span></span></p> <p style="text-align: justify;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">These interim consolidated financial statements of SunOpta Inc. (the "Company" or "SunOpta") have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated under the Securities Exchange Act of 1934, as amended, and in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information. Accordingly, these condensed interim consolidated financial statements do not include all of the disclosures required by U.S. GAAP for annual financial statements. In the opinion of management, all adjustments considered necessary for fair presentation have been included and all such adjustments are of a normal, recurring nature. Operating results for the quarter ended March 28, 2020 are not necessarily indicative of the results that may be expected for the full fiscal year ending January 2, 2021, or for any other period. The interim consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries and have been prepared on a basis consistent with the annual consolidated financial statements for the year ended December 28, 2019. For further information, refer to the consolidated financial statements, and notes thereto, included in the Company's Annual Report on Form 10-K for the fiscal year ended December 28, 2019.</span></span></p> <p style="font-size: 10pt; font-family: Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman,Times,serif;">As described in note 13, in the fourth quarter of 2019, the Company changed its segment reporting to reflect changes to its operating structure. All segment information presented in these consolidated financial statements for the quarter ended March 30, 2019 has been restated to reflect the new segment reporting structure.</span></span></p> </div> </div> | |
| CY2020Q1 | us-gaap |
Operating Cycle
OperatingCycle
|
The fiscal year of the Company consists of a 52- or 53-week period ending on the Saturday closest to December 31. Fiscal year 2020 is a 53-week period ending on January 2, 2021, with quarterly periods ending on March 28, June 27 and September 26, 2020. Fiscal year 2019 was a 52-week period ending on December 28, 2019, with quarterly periods ending on March 30, June 29 and September 28, 2019. | |
| CY2020Q1 | us-gaap |
Inventory Recall Expense
InventoryRecallExpense
|
0 | USD |
| CY2019Q1 | us-gaap |
Inventory Recall Expense
InventoryRecallExpense
|
260000 | USD |
| CY2020Q1 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
1298000 | USD |
| CY2020Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2000000 | USD |
| CY2019Q1 | us-gaap |
Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
|
2100000 | USD |
| CY2019Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.27 | |
| CY2020Q1 | us-gaap |
Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
|
11333333 | shares |
| CY2019Q1 | us-gaap |
Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
|
11333333 | shares |
| CY2019Q1 | us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-4211000 | USD |
| CY2019Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4621000 | USD |
| CY2019Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
-4801000 | USD |
| CY2020Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
77000 | USD |
| CY2019Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | USD |
| CY2020Q1 | us-gaap |
Dividends Preferred Stock Paidinkind
DividendsPreferredStockPaidinkind
|
1700000 | USD |
| CY2019Q1 | us-gaap |
Dividends Preferred Stock Paidinkind
DividendsPreferredStockPaidinkind
|
0 | USD |
| CY2020Q1 | stkl |
Dividends Preferred Stock Cash Accrued And Unpaid
DividendsPreferredStockCashAccruedAndUnpaid
|
0 | USD |
| CY2020Q1 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
1298000 | USD |
