$TISI
TEAM INC

2023 Q3 Form 10-Q Financial Statement

#000031883323000030 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $206.7M $239.5M
YoY Change -16.57% -4.69%
Cost Of Revenue $153.9M $178.6M
YoY Change -5.17% -1.51%
Gross Profit $52.79M $60.92M
YoY Change -5.77% -12.92%
Gross Profit Margin 25.54% 25.44%
Selling, General & Admin $54.05M $56.32M
YoY Change 2.88% -22.57%
% of Gross Profit 102.38% 92.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.400M $5.500M
YoY Change -1.82% -42.58%
% of Gross Profit 10.23% 9.03%
Operating Expenses $54.05M $56.32M
YoY Change -6.41% -22.57%
Operating Profit -$1.258M $4.596M
YoY Change -27.24% -265.32%
Interest Expense -$10.10M -$16.69M
YoY Change -62.11% -9.68%
% of Operating Profit -363.16%
Other Income/Expense, Net $266.0K $13.00K
YoY Change -91.76% -99.12%
Pretax Income -$11.06M -$13.66M
YoY Change -56.02% -30.93%
Income Tax $1.100M $2.100M
% Of Pretax Income
Net Earnings -$12.13M -$15.75M
YoY Change -46.95% -26.91%
Net Earnings / Revenue -5.87% -6.58%
Basic Earnings Per Share -$2.78 -$3.61
Diluted Earnings Per Share -$2.74 -$3.61
COMMON SHARES
Basic Shares Outstanding 4.368M shares 4.362M shares
Diluted Shares Outstanding 4.368M shares 4.362M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.50M $30.44M
YoY Change -61.87% -54.87%
Cash & Equivalents $21.48M $30.44M
Short-Term Investments
Other Short-Term Assets $9.927M $6.582M
YoY Change -43.11% -56.69%
Inventory $38.87M $37.86M
Prepaid Expenses $16.53M $15.02M
Receivables $185.8M $197.0M
Other Receivables $40.20M $39.82M
Total Short-Term Assets $312.8M $326.8M
YoY Change -28.24% -17.03%
LONG-TERM ASSETS
Property, Plant & Equipment $170.8M $177.0M
YoY Change -16.2% -15.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.388M $10.70M
YoY Change -222.08% 44.42%
Total Long-Term Assets $248.6M $259.9M
YoY Change -10.48% -21.23%
TOTAL ASSETS
Total Short-Term Assets $312.8M $326.8M
Total Long-Term Assets $248.6M $259.9M
Total Assets $561.5M $586.7M
YoY Change -21.33% -18.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.04M $36.27M
YoY Change -8.25% -5.56%
Accrued Expenses $104.8M $101.9M
YoY Change -19.2% -20.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.300M $4.547M
YoY Change -98.95% -99.07%
Total Short-Term Liabilities $159.1M $158.6M
YoY Change -77.01% -76.29%
LONG-TERM LIABILITIES
Long-Term Debt $295.8M $306.3M
YoY Change 6049.69% 6479.34%
Other Long-Term Liabilities $4.228M $2.713M
YoY Change -89.88% -22.02%
Total Long-Term Liabilities $4.228M $2.713M
YoY Change -90.92% -22.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $159.1M $158.6M
Total Long-Term Liabilities $4.228M $2.713M
Total Liabilities $496.8M $506.8M
YoY Change -33.08% -29.93%
SHAREHOLDERS EQUITY
Retained Earnings -$354.3M -$342.1M
YoY Change -21.03% -19.64%
Common Stock $1.311M $1.311M
YoY Change -89.89% -89.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $64.62M $79.87M
YoY Change
Total Liabilities & Shareholders Equity $561.5M $586.7M
YoY Change -21.33% -18.94%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$12.13M -$15.75M
YoY Change -46.95% -26.91%
Depreciation, Depletion And Amortization $5.400M $5.500M
YoY Change -1.82% -42.58%
Cash From Operating Activities $1.550M -$5.854M
YoY Change -77.94% 72.94%
INVESTING ACTIVITIES
Capital Expenditures $2.360M $2.381M
YoY Change -133.71% -134.34%
Acquisitions
YoY Change
Other Investing Activities $80.00K $0.00
YoY Change -96.09% -100.0%
Cash From Investing Activities -$2.280M -$2.381M
YoY Change -53.99% -50.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.880M 6.719M
YoY Change 426.03% -70.56%
NET CHANGE
Cash From Operating Activities 1.550M -5.854M
Cash From Investing Activities -2.280M -2.381M
Cash From Financing Activities -7.880M 6.719M
Net Change In Cash -8.610M -1.516M
YoY Change -1602.62% -110.39%
FREE CASH FLOW
Cash From Operating Activities $1.550M -$5.854M
Capital Expenditures $2.360M $2.381M
Free Cash Flow -$810.0K -$8.235M
YoY Change -105.77% -332.1%

Facts In Submission

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts in prior periods have been reclassified to conform to the current year presentation, including the separate presentation and reporting of discontinued operations. Such reclassifications did not have any effect on our financial condition or results of operations as previously reported.</span>
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DebtInstrumentRepaidPrincipal
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