$SWBI
SMITH & WESSON BRANDS, INC.

2016 Q3 Form 10-Q Financial Statement

#000156459017018410 Filed on September 07, 2017

View on sec.gov

Income Statement

Concept 2016 Q3
Revenue $207.0M
YoY Change 40.06%
Cost Of Revenue $119.4M
YoY Change 34.3%
Gross Profit $87.57M
YoY Change 48.75%
Gross Profit Margin 42.31%
Selling, General & Admin $32.89M
YoY Change 23.39%
% of Gross Profit 37.56%
Research & Development $2.152M
YoY Change -10.18%
% of Gross Profit 2.46%
Depreciation & Amortization $10.30M
YoY Change -6.36%
% of Gross Profit 11.76%
Operating Expenses $35.05M
YoY Change 20.62%
Operating Profit $52.52M
YoY Change 76.15%
Interest Expense -$2.012M
YoY Change -127.75%
% of Operating Profit -3.83%
Other Income/Expense, Net -$2.012M
YoY Change -72.08%
Pretax Income $50.51M
YoY Change 123.4%
Income Tax $17.90M
% Of Pretax Income 35.43%
Net Earnings $35.22M
YoY Change 144.39%
Net Earnings / Revenue 17.02%
Basic Earnings Per Share $0.63
Diluted Earnings Per Share $0.62
COMMON SHARES
Basic Shares Outstanding 56.05M
Diluted Shares Outstanding 56.88M

Balance Sheet

Concept 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $215.0M
YoY Change 288.09%
Cash & Equivalents $215.0M
Short-Term Investments
Other Short-Term Assets $6.100M
YoY Change -76.72%
Inventory $87.60M
Prepaid Expenses
Receivables $55.70M
Other Receivables $1.300M
Total Short-Term Assets $365.8M
YoY Change 63.88%
LONG-TERM ASSETS
Property, Plant & Equipment $145.3M
YoY Change 8.24%
Goodwill $76.36M
YoY Change
Intangibles $60.35M
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.937M
YoY Change -31.32%
Total Long-Term Assets $288.9M
YoY Change -0.69%
TOTAL ASSETS
Total Short-Term Assets $365.8M
Total Long-Term Assets $288.9M
Total Assets $654.7M
YoY Change 27.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.75M
YoY Change 33.58%
Accrued Expenses $30.25M
YoY Change -23.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $6.300M
YoY Change 0.0%
Total Short-Term Liabilities $126.5M
YoY Change 41.94%
LONG-TERM LIABILITIES
Long-Term Debt $165.2M
YoY Change -3.22%
Other Long-Term Liabilities $10.64M
YoY Change -1.47%
Total Long-Term Liabilities $10.64M
YoY Change -94.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $126.5M
Total Long-Term Liabilities $10.64M
Total Liabilities $314.3M
YoY Change 3.36%
SHAREHOLDERS EQUITY
Retained Earnings $273.9M
YoY Change
Common Stock $239.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $172.3M
YoY Change
Treasury Stock Shares $15.56M
Shareholders Equity $340.4M
YoY Change
Total Liabilities & Shareholders Equity $654.7M
YoY Change 27.35%

Cashflow Statement

Concept 2016 Q3
OPERATING ACTIVITIES
Net Income $35.22M
YoY Change 144.39%
Depreciation, Depletion And Amortization $10.30M
YoY Change -6.36%
Cash From Operating Activities $38.10M
YoY Change 129.17%
INVESTING ACTIVITIES
Capital Expenditures $15.78M
YoY Change 98.69%
Acquisitions
YoY Change
Other Investing Activities $4.800M
YoY Change 433.33%
Cash From Investing Activities -$11.10M
YoY Change 55.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.575M
YoY Change -98.43%
Cash From Financing Activities -3.200M
YoY Change -186.02%
NET CHANGE
Cash From Operating Activities 38.10M
Cash From Investing Activities -11.10M
Cash From Financing Activities -3.200M
Net Change In Cash 23.80M
YoY Change 80.37%
FREE CASH FLOW
Cash From Operating Activities $38.10M
Capital Expenditures $15.78M
Free Cash Flow $22.32M
YoY Change 157.04%

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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:12pt;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 a leading manufacturer, designer, and provider of consumer products for the shooting, hunting, and rugged outdoor enthusiast. 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. We are also a leading provider of shooting, hunting, and rugged outdoor products and accessories, including knives and cutting tools, sighting lasers, shooting supplies, tree saws, and survival gear.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In our Firearms segment, which operates under the Smith &amp; Wesson name, we manufacture a wide array of handguns (including revolvers and pistols), long guns (including modern sporting rifles, bolt action rifles, and muzzleloaders), handcuffs, and firearm-related products 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 sell our firearm products under the Smith &amp; Wesson, M&amp;P, Performance Center, and Thompson/Center Arms brands. We manufacture our firearm products at our facilities in Springfield, Massachusetts; Houlton, Maine; and Deep River, Connecticut. We also sell our manufacturing services to other businesses under our Smith &amp; Wesson and Deep River Plastics 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;">In our Outdoor Products &amp; Accessories segment, which currently operates under the names of Battenfeld Technologies, Inc., or BTI, BTI Tools, Ultimate Survival Technologies, or UST, and Crimson Trace, we design, source, distribute, and manufacture reloading, gunsmithing, and gun cleaning supplies, high-quality stainless steel cutting tools and accessories, flashlights, tree saws and related trimming accessories, shooting supplies, rests, and other related accessories, apparel, vault accessories, laser grips and laser sights, and a full range of products for survival and emergency preparedness. We sell our outdoor products and accessories under the following brands: Caldwell, Wheeler, Tipton, Frankford Arsenal, Smith &amp; Wesson, M&amp;P, Thompson/Center, Lockdown, Hooyman, BOG-POD, Golden Rod, Non-Typical, Crimson Trace, Imperial, Schrade, Old Timer, UST, and KeyGear. We develop and market our outdoor products and accessories at our facilities in Columbia, Missouri; Wilsonville, Oregon; Kingsport, Tennessee; and Jacksonville, Florida.</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;">On August 1, 2016, we acquired substantially all of the net assets of Taylor Brands, LLC; on August 26, 2016, we acquired all of the issued and outstanding stock of Crimson Trace Corporation; and on November 18, 2016, we acquired substantially all of the net assets of Ultimate Survival Technologies, Inc., which acquisitions we refer to collectively as the 2017 Acquisitions. See Note 3 &#8211; <font style="font-style:italic;">Acquisitions</font> for more information regarding these transactions. </p></div>
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Files In Submission

Name View Source Status
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0001564590-17-018410-index.html Edgar Link pending
0001564590-17-018410.txt Edgar Link pending
0001564590-17-018410-xbrl.zip Edgar Link pending
aobc-10q_20170731.htm Edgar Link pending
aobc-20170731.xml Edgar Link completed
aobc-20170731.xsd Edgar Link pending
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