$SWBI
SMITH & WESSON BRANDS, INC.

2015 Q1 Form 10-Q Financial Statement

#000156459016013986 Filed on March 03, 2016

View on sec.gov

Income Statement

Concept 2015 Q1
Revenue $130.6M
YoY Change -10.51%
Cost Of Revenue $86.70M
YoY Change -0.61%
Gross Profit $43.82M
YoY Change -25.28%
Gross Profit Margin 33.57%
Selling, General & Admin $26.30M
YoY Change 0.86%
% of Gross Profit 60.01%
Research & Development $1.900M
YoY Change 30.49%
% of Gross Profit 4.34%
Depreciation & Amortization $8.200M
YoY Change 67.35%
% of Gross Profit 18.71%
Operating Expenses $28.20M
YoY Change 2.43%
Operating Profit $15.62M
YoY Change -49.79%
Interest Expense -$3.000M
YoY Change -269.4%
% of Operating Profit -19.2%
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income $12.68M
YoY Change -56.85%
Income Tax $4.600M
% Of Pretax Income 36.29%
Net Earnings $8.121M
YoY Change -60.93%
Net Earnings / Revenue 6.22%
Basic Earnings Per Share $0.15
Diluted Earnings Per Share $0.15
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.00M
YoY Change 30.24%
Cash & Equivalents $59.01M
Short-Term Investments
Other Short-Term Assets $24.10M
YoY Change 28.19%
Inventory $97.00M
Prepaid Expenses
Receivables $61.00M
Other Receivables $1.900M
Total Short-Term Assets $242.9M
YoY Change 14.47%
LONG-TERM ASSETS
Property, Plant & Equipment $135.5M
YoY Change 24.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.70M
YoY Change -22.89%
Total Long-Term Assets $304.3M
YoY Change 127.25%
TOTAL ASSETS
Total Short-Term Assets $242.9M
Total Long-Term Assets $304.3M
Total Assets $547.2M
YoY Change 58.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.90M
YoY Change -53.94%
Accrued Expenses $33.50M
YoY Change 209.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $59.20M
YoY Change -32.89%
LONG-TERM LIABILITIES
Long-Term Debt $275.0M
YoY Change 175.0%
Other Long-Term Liabilities $10.70M
YoY Change -3.59%
Total Long-Term Liabilities $285.7M
YoY Change 2474.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.20M
Total Long-Term Liabilities $285.7M
Total Liabilities $377.6M
YoY Change 82.26%
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 $169.6M
YoY Change
Total Liabilities & Shareholders Equity $547.2M
YoY Change 58.1%

Cashflow Statement

Concept 2015 Q1
OPERATING ACTIVITIES
Net Income $8.121M
YoY Change -60.93%
Depreciation, Depletion And Amortization $8.200M
YoY Change 67.35%
Cash From Operating Activities $33.30M
YoY Change 10.26%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M
YoY Change -86.28%
Acquisitions
YoY Change
Other Investing Activities -$135.6M
YoY Change -135700.0%
Cash From Investing Activities -$138.7M
YoY Change 513.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0M
YoY Change -753.59%
NET CHANGE
Cash From Operating Activities 33.30M
Cash From Investing Activities -138.7M
Cash From Financing Activities 100.0M
Net Change In Cash -5.400M
YoY Change -29.87%
FREE CASH FLOW
Cash From Operating Activities $33.30M
Capital Expenditures -$3.100M
Free Cash Flow $36.40M
YoY Change -31.06%

Facts In Submission

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<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">(1)&#160;Organization: </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">We are one of the world&#8217;s leading manufacturers of firearms. We manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and single shot rifles), handcuffs, and firearm-related products and accessories for sale to a wide variety of customers, including gun enthusiasts, collectors, hunters, sportsmen, competitive shooters, individuals desiring home and personal protection, law enforcement and security agencies and officers, and military agencies in the United States and throughout the world. We are one of the largest manufacturers of handguns, modern sporting rifles, and handcuffs in the United States and an active participant in the hunting rifle market. As a result of an acquisition, we are now also a leading provider of shooting, reloading, gunsmithing, and gun cleaning supplies. We sell our products under the Smith&#160;&amp; Wesson<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font>, M&amp;P<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font>, Thompson/Center Arms<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">TM</sup></font>, Caldwell<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font> Shooting Supplies, Wheeler<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font> Engineering, Tipton<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font> Gun Cleaning Supplies, Frankford Arsenal<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font>, Lockdown<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font> Vault Accessories, Hooyman Saws<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">TM</sup></font>, BOG-POD<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font>, and Golden Rod<font style="font-size:8.5pt;"><sup style="font-size:85%; vertical-align:top">&#174;</sup></font> Moisture Control brands. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut, and we develop and market our accessories products at our facility in Columbia, Missouri. We plan to continue to capitalize on the goodwill developed through our historic 163 year old &#8220;Smith&#160;&amp; Wesson&#8221; brand as well as our other well-known brands by expanding consumer awareness of the products we produce. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On May&#160;5, 2014, we acquired substantially all of the net assets of Tri-Town Precision Plastics, Inc., or TTPP, which we refer to as the DRP Acquisition. <font style="color:#000000;">On December 11, 2014, we acquired all of the issued and outstanding stock of Battenfeld Acquisition Company Inc., including its wholly owned subsidiary, Battenfeld Technologies, Inc., or BTI, which we refer to as the BTI Acquisition. See Note 3 &#8211; </font><font style="font-style:italic;color:#000000;">Acquisitions </font><font style="color:#000000;">below for more information regarding these transactions. These acquisitions have been accounted for in accordance with ASC 805-20, </font><font style="font-style:italic;color:#000000;">Business Combinations,</font><font style="color:#000000;"> and, accordingly, the results of operations from the acquired businesses have been included in our consolidated financial statements following the acquisition dates.</font></p></div>
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P3Y
swhc Share Based Compensation Percentage Of Target Award Granted For Calculating Maximum Aggregate Award Of Performance Share
ShareBasedCompensationPercentageOfTargetAwardGrantedForCalculatingMaximumAggregateAwardOfPerformanceShare
2.00
CY2015 swhc Percentage Of Stock Outperform In Order For Target Award To Vest
PercentageOfStockOutperformInOrderForTargetAwardToVest
0.05
CY2014 swhc Percentage Of Stock Outperform In Order For Target Award To Vest
PercentageOfStockOutperformInOrderForTargetAwardToVest
0.10
CY2013 swhc Percentage Of Stock Outperform In Order For Target Award To Vest
PercentageOfStockOutperformInOrderForTargetAwardToVest
0.10
CY2016Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
675000
CY2015Q2 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
675000
CY2014Q2 us-gaap Escrow Deposit
EscrowDeposit
3000000
CY2014Q2 swhc Escrow Deposit Remaining Amount
EscrowDepositRemainingAmount
250000

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0001564590-16-013986.txt Edgar Link pending
0001564590-16-013986-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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swhc-10q_20160131.htm Edgar Link pending
swhc-20160131.xml Edgar Link completed
swhc-20160131.xsd Edgar Link pending
swhc-20160131_cal.xml Edgar Link unprocessable
swhc-20160131_def.xml Edgar Link unprocessable
swhc-20160131_lab.xml Edgar Link unprocessable
swhc-20160131_pre.xml Edgar Link unprocessable
swhc-ex311_6.htm Edgar Link pending
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