2020 Q4 Form 10-K Financial Statement

#000089975121000006 Filed on March 04, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2018 Q4
Revenue $326.9M $301.8M $363.4M
YoY Change 8.32% -16.95% -3.36%
Cost Of Revenue $290.9M $285.8M $328.9M
YoY Change 1.78% -13.1% -0.78%
Gross Profit $36.00M $18.33M $36.69M
YoY Change 96.38% -50.03% 2.05%
Gross Profit Margin 11.01% 6.07% 10.1%
Selling, General & Admin $31.10M $31.10M $32.50M
YoY Change 0.0% -4.31% -7.41%
% of Gross Profit 86.39% 169.65% 88.58%
Research & Development $2.200M $2.400M $2.900M
YoY Change -8.33% -17.24% 20.83%
% of Gross Profit 6.11% 13.09% 7.9%
Depreciation & Amortization $14.30M $13.10M $14.20M
YoY Change 9.16% -7.75% -1.39%
% of Gross Profit 39.72% 71.46% 38.7%
Operating Expenses $33.30M $33.50M $35.40M
YoY Change -0.6% -5.37% -5.6%
Operating Profit $2.700M -$15.17M $1.289M
YoY Change -117.8% -1276.73% -183.32%
Interest Expense -$8.600M -$6.400M -$10.40M
YoY Change 34.38% -38.46% -59.69%
% of Operating Profit -318.52% -806.83%
Other Income/Expense, Net $1.400M $800.0K $200.0K
YoY Change 75.0% 300.0% -111.11%
Pretax Income -$14.90M -$23.10M -$11.10M
YoY Change -35.5% 108.11% -63.61%
Income Tax $4.600M $2.700M $3.000M
% Of Pretax Income
Net Earnings -$17.20M -$24.84M -$12.29M
YoY Change -30.74% 102.06% -59.41%
Net Earnings / Revenue -5.26% -8.23% -3.38%
Basic Earnings Per Share -$0.41 -$0.23
Diluted Earnings Per Share -$280.1K -$0.41 -$0.23
COMMON SHARES
Basic Shares Outstanding 61.38M shares 60.29M shares 59.92M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.4M $66.80M $81.70M
YoY Change 75.75% -18.24% -43.11%
Cash & Equivalents $117.4M $66.80M $81.69M
Short-Term Investments
Other Short-Term Assets $2.422M $342.0K $5.318M
YoY Change 608.19% -93.57% -2.9%
Inventory $293.7M $333.4M $395.7M
Prepaid Expenses $24.01M $27.74M $26.01M
Receivables $193.0M $185.2M $241.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $658.6M $651.5M $779.5M
YoY Change 1.1% -16.42% -0.47%
LONG-TERM ASSETS
Property, Plant & Equipment $319.9M $367.6M $384.9M
YoY Change -12.99% -4.49% -8.64%
Goodwill
YoY Change
Intangibles $1.975M $9.766M $11.65M
YoY Change -79.78% -16.15% -23.75%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $26.48M $69.00M $84.03M
YoY Change -61.62% -17.88% 2.61%
Total Long-Term Assets $53.43M $95.25M $86.90M
YoY Change -43.9% 9.6% 1.44%
TOTAL ASSETS
Total Short-Term Assets $658.6M $651.5M $779.5M
Total Long-Term Assets $53.43M $95.25M $86.90M
Total Assets $1.032B $1.114B $1.251B
YoY Change -7.4% -10.94% -3.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $167.2M $158.6M $212.1M
YoY Change 5.4% -25.21% 8.51%
Accrued Expenses $7.500M $6.700M
YoY Change 11.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $31.70M $61.30M $51.89M
YoY Change -48.29% 18.15% 18.86%
Total Short-Term Liabilities $329.7M $327.2M $375.1M
YoY Change 0.78% -12.78% 0.58%
LONG-TERM LIABILITIES
Long-Term Debt $435.7M $438.5M $409.6M
YoY Change -0.64% 7.06% 0.59%
Other Long-Term Liabilities $63.43M $78.03M $67.29M
YoY Change -18.71% 15.95% -8.07%
Total Long-Term Liabilities $63.43M $78.03M $476.9M
YoY Change -18.71% -83.64% -0.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $329.7M $327.2M $375.1M
Total Long-Term Liabilities $63.43M $78.03M $476.9M
Total Liabilities $830.6M $850.3M $861.3M
YoY Change -2.32% -1.28% -0.63%
SHAREHOLDERS EQUITY
Retained Earnings -$135.0M -$74.33M -$29.05M
YoY Change 81.65% 155.9% -34.01%
Common Stock $532.7M $532.1M $519.5M
YoY Change 0.13% 2.42% -2.3%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.199M $4.234M $7.831M
YoY Change -71.68% -45.93% -9.01%
Treasury Stock Shares 100.0K shares 400.0K shares 800.0K shares
Shareholders Equity $179.3M $234.9M $279.0M
YoY Change
Total Liabilities & Shareholders Equity $1.032B $1.114B $1.251B
YoY Change -7.4% -10.94% -3.01%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$17.20M -$24.84M -$12.29M
YoY Change -30.74% 102.06% -59.41%
Depreciation, Depletion And Amortization $14.30M $13.10M $14.20M
YoY Change 9.16% -7.75% -1.39%
Cash From Operating Activities $9.800M $14.20M -$3.500M
YoY Change -30.99% -505.71% -125.18%
INVESTING ACTIVITIES
Capital Expenditures -$8.300M -$10.10M -$12.50M
YoY Change -17.82% -19.2% 38.89%
Acquisitions
YoY Change
Other Investing Activities $16.20M $14.20M $600.0K
YoY Change 14.08% 2266.67% -300.0%
Cash From Investing Activities $7.800M $4.000M -$11.90M
YoY Change 95.0% -133.61% 27.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.700M -31.90M 400.0K
YoY Change -85.27% -8075.0% -102.53%
NET CHANGE
Cash From Operating Activities 9.800M 14.20M -3.500M
Cash From Investing Activities 7.800M 4.000M -11.90M
Cash From Financing Activities -4.700M -31.90M 400.0K
Net Change In Cash 12.90M -13.70M -15.00M
YoY Change -194.16% -8.67% 33.93%
FREE CASH FLOW
Cash From Operating Activities $9.800M $14.20M -$3.500M
Capital Expenditures -$8.300M -$10.10M -$12.50M
Free Cash Flow $18.10M $24.30M $9.000M
YoY Change -25.51% 170.0% -60.7%

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Use of estimatesThe policies utilized by the Company in the preparation of the financial statements conform to United States generally accepted accounting principles (US GAAP or GAAP) and require management to make estimates, assumptions, and judgments that affect the reported amount of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual amounts could differ from these estimates and assumptions
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6011000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Noncurrent
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4752000 USD
CY2020Q4 us-gaap Other Assets Noncurrent
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26484000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
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P0Y
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CY2020 us-gaap Finite Lived Intangible Asset Useful Life
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CY2019Q4 us-gaap Finite Lived Trademarks Gross
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CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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FiniteLivedIntangibleAssetsGross
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14461000 USD
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1975000 USD
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9766000 USD
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2300000 USD
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2200000 USD
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2300000 USD
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472000 USD
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144000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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139000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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123000 USD
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CY2019 us-gaap Product Warranty Accrual Warranties Issued
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4965000 USD
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CY2019Q4 us-gaap Product Warranty Accrual
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CY2019Q4 us-gaap Derivative Liabilities Noncurrent
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78025000 USD
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400000 USD
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30700000 USD
CY2020Q2 twi Paymentrelatedtoredeemablenoncontrollinginterestagreement
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16000000.0 USD
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CY2019 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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6566000 USD
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6566000 USD
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CY2019 twi Reclassificationof Ct Afrom Redeemable Noncontrollinginterest
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CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Reclassification From Aoci To Retained Earnings Tax Effect
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CY2020 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2020 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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3454000 USD
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3454000 USD
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CY2020 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
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413000 USD
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-22690000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020 us-gaap Common Stock Dividends Per Share Cash Paid
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0.005
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0.02
CY2020 us-gaap Dividends Common Stock
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300000 USD
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0.643
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20823000 USD
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9900000 USD
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1600000 USD
CY2020 us-gaap Unusual Or Infrequent Item Insurance Proceeds
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8600000 USD
CY2020 us-gaap Production Related Impairments Or Charges
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13800000 USD
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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6000000.0 USD
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1700000 USD
CY2020 us-gaap Inventory Write Down
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1000000.0 USD
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9700000 USD
CY2019 us-gaap Royalty Expense
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9900000 USD
CY2018 us-gaap Royalty Expense
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10100000 USD
CY2020 us-gaap Gain Loss Related To Litigation Settlement
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8600000 USD
CY2020 us-gaap Gain Loss On Sale Of Properties
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4855000 USD
CY2020 us-gaap Rental Income Nonoperating
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2336000 USD
CY2019 us-gaap Rental Income Nonoperating
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1697000 USD
CY2018 us-gaap Rental Income Nonoperating
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1804000 USD
CY2020 us-gaap Income Loss From Equity Method Investments
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720000 USD
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2394000 USD
CY2018 us-gaap Income Loss From Equity Method Investments
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3993000 USD
CY2020 us-gaap Gain Loss On Sale Of Other Assets
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440000 USD
CY2019 us-gaap Gain Loss On Sale Of Other Assets
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871000 USD
CY2018 us-gaap Gain Loss On Sale Of Other Assets
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428000 USD
CY2020 us-gaap Gain Loss On Investments
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0 USD
CY2019 us-gaap Gain Loss On Investments
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0 USD
CY2018 us-gaap Gain Loss On Investments
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687000 USD
CY2020 us-gaap Gain Loss On Sale Of Investments
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-703000 USD
CY2019 us-gaap Gain Loss On Sale Of Investments
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4695000 USD
CY2020 us-gaap Other Nonoperating Income Expense
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2551000 USD
CY2019 us-gaap Other Nonoperating Income Expense
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CY2018 us-gaap Other Nonoperating Income Expense
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10179000 USD
CY2020 us-gaap Nonoperating Income Expense
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18799000 USD
CY2019 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
8393000 USD
CY2018 us-gaap Nonoperating Income Expense
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17091000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-36761000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-52234000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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-298000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-21370000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
4190000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
20105000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-58131000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-48044000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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19807000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
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-4050000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
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-4599000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Current State And Local Tax Expense Benefit
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326000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
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622000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
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CY2020 us-gaap Current Foreign Tax Expense Benefit
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