2023 Q2 Form 10-Q Financial Statement
#000106299323010692 Filed on May 10, 2023
Income Statement
| Concept | 2023 Q2 | 2022 Q2 |
|---|---|---|
| Revenue | $223.9M | $240.2M |
| YoY Change | -6.78% | 15.67% |
| Cost Of Revenue | $195.7M | $211.7M |
| YoY Change | -7.59% | 19.16% |
| Gross Profit | $28.20M | $28.43M |
| YoY Change | -0.8% | -5.23% |
| Gross Profit Margin | 12.6% | 11.84% |
| Selling, General & Admin | $25.43M | $21.75M |
| YoY Change | 16.91% | 4.08% |
| % of Gross Profit | 90.17% | 76.51% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $9.998M | $9.413M |
| YoY Change | 6.21% | 17.03% |
| % of Gross Profit | 35.45% | 33.11% |
| Operating Expenses | $25.43M | $24.39M |
| YoY Change | 4.26% | -1.25% |
| Operating Profit | $2.503M | $4.040M |
| YoY Change | -38.04% | -23.77% |
| Interest Expense | $5.812M | -$2.058M |
| YoY Change | -382.41% | -223.98% |
| % of Operating Profit | 232.2% | -50.94% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | -$3.309M | $1.099M |
| YoY Change | -401.09% | -60.89% |
| Income Tax | -$4.686M | $445.0K |
| % Of Pretax Income | 40.49% | |
| Net Earnings | $1.377M | $4.220M |
| YoY Change | -67.37% | 152.39% |
| Net Earnings / Revenue | 0.62% | 1.76% |
| Basic Earnings Per Share | $0.01 | $0.04 |
| Diluted Earnings Per Share | $0.01 | $39.29K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 110.0K shares | 107.6M shares |
| Diluted Shares Outstanding | 113.1K shares | 108.4K shares |
Balance Sheet
| Concept | 2023 Q2 | 2022 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $910.0K | $495.0K |
| YoY Change | 83.84% | -38.13% |
| Cash & Equivalents | $910.0K | $495.0K |
| Short-Term Investments | ||
| Other Short-Term Assets | $15.24M | $16.04M |
| YoY Change | -4.99% | -12.83% |
| Inventory | $200.6M | $218.0M |
| Prepaid Expenses | ||
| Receivables | $86.12M | $98.22M |
| Other Receivables | $3.896M | $8.130M |
| Total Short-Term Assets | $306.7M | $340.9M |
| YoY Change | -10.01% | 21.78% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $339.5M | $289.1M |
| YoY Change | 17.45% | 30.68% |
| Goodwill | $3.998M | |
| YoY Change | ||
| Intangibles | $133.2M | |
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $5.013M | $6.057M |
| YoY Change | -17.24% | -19.24% |
| Total Long-Term Assets | $571.4M | $445.0M |
| YoY Change | 28.42% | 22.34% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $306.7M | $340.9M |
| Total Long-Term Assets | $571.4M | $445.0M |
| Total Assets | $878.1M | $785.8M |
| YoY Change | 11.75% | 22.1% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $118.2M | $135.5M |
| YoY Change | -12.8% | 26.3% |
| Accrued Expenses | $13.20M | $10.10M |
| YoY Change | 30.63% | -19.17% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $43.81M | $17.86M |
| YoY Change | 145.23% | 139.4% |
| Total Short-Term Liabilities | $175.6M | $163.5M |
| YoY Change | 7.4% | 26.05% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $282.4M | $231.8M |
| YoY Change | 21.81% | 78.24% |
| Other Long-Term Liabilities | $76.67M | $41.22M |
| YoY Change | 86.01% | 83.2% |
| Total Long-Term Liabilities | $282.4M | $273.0M |
| YoY Change | 3.42% | 109.93% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $175.6M | $163.5M |
| Total Long-Term Liabilities | $282.4M | $273.0M |
| Total Liabilities | $534.6M | $447.3M |
| YoY Change | 19.53% | 44.1% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$155.0M | |
| YoY Change | ||
| Common Stock | $21.87M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $343.5M | $338.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $878.1M | $785.8M |
| YoY Change | 11.75% | 22.09% |
Cashflow Statement
| Concept | 2023 Q2 | 2022 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $1.377M | $4.220M |
| YoY Change | -67.37% | 152.39% |
| Depreciation, Depletion And Amortization | $9.998M | $9.413M |
| YoY Change | 6.21% | 17.03% |
| Cash From Operating Activities | $3.867M | $15.54M |
| YoY Change | -75.12% | -321.57% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $25.84M | -$25.72M |
| YoY Change | -200.47% | -376.67% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $385.0K | $1.204M |
| YoY Change | -68.02% | -110.01% |
| Cash From Investing Activities | -$25.46M | -$24.52M |
| YoY Change | 3.83% | 14.96% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | $818.0K | $609.0K |
| YoY Change | 34.32% | -82.19% |
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | $10.05M | $2.395M |
| YoY Change | 319.54% | -41.37% |
| Cash From Financing Activities | $21.82M | 9.243M |
| YoY Change | 136.08% | -67.96% |
| NET CHANGE | ||
| Cash From Operating Activities | $3.867M | 15.54M |
| Cash From Investing Activities | -$25.46M | -24.52M |
| Cash From Financing Activities | $21.82M | 9.243M |
| Net Change In Cash | $231.0K | 268.0K |
| YoY Change | -13.81% | -46.72% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $3.867M | $15.54M |
| Capital Expenditures | $25.84M | -$25.72M |
| Free Cash Flow | -$21.98M | $41.27M |
| YoY Change | -153.25% | -352.97% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q2 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
| CY2023Q2 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
| CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
187000 | usd |
| CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.01 | |
| CY2023Q2 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-143000 | usd |
| CY2023Q2 | stkl |
Segment Operating Income Loss
SegmentOperatingIncomeLoss
|
2538000 | usd |
| CY2022Q2 | stkl |
Segment Operating Income Loss
SegmentOperatingIncomeLoss
|
4006000 | usd |
| CY2023Q2 | stkl |
Other Expense Income Net
OtherExpenseIncomeNet
|
35000 | usd |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1189000 | usd |
| CY2022Q4 | us-gaap |
Assets
Assets
|
855852000 | usd |
| CY2023Q2 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
00-0000000 | |
| CY2023Q2 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
| CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2503000 | usd |
| CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
1377000 | usd |
| CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
0.01 | |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0 | |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
0 | |
| CY2022Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0.03 | |
| CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
319207000 | usd |
| CY2023Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
329354000 | usd |
| CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
313328000 | usd |
| CY2022Q2 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
134000 | usd |
| CY2022Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
116000 | usd |
| CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
1377000 | usd |
| CY2022Q2 | us-gaap |
Profit Loss
ProfitLoss
|
4568000 | usd |
| CY2023Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
0 | usd |
| CY2023Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-25457000 | usd |
| CY2022Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-24518000 | usd |
| CY2022Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
375000 | usd |
| CY2022Q2 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-10305000 | usd |
| CY2023Q2 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
18693000 | usd |
| CY2023Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-6490000 | usd |
| CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.01 | |
| CY2023Q2 | stkl |
Supplier Finance Program Obligation
SupplierFinanceProgramObligation
|
19600000 | usd |
| CY2023Q2 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
120117000 | usd |
| CY2022Q4 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
124079000 | usd |
| CY2023Q2 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure |
| CY2022Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.157 | pure |
| CY2023Q2 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
7560000 | usd |
| CY2023Q2 | stkl |
Change In Accrued Withholding Taxes On Stockbased Awards Included In Accounts Payable And Accrued Liabilities
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|
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Change In Accrued Withholding Taxes On Stockbased Awards Included In Accounts Payable And Accrued Liabilities
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|
0 | usd |
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Revenues
Revenues
|
240173000 | usd |
| CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3309000 | usd |
| CY2023Q2 | us-gaap |
Assets
Assets
|
878125000 | usd |
