2021 Q4 Form 10-K Financial Statement

#000155837022003285 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $683.2M $2.296B $516.8M
YoY Change 32.2% 24.15% 24.8%
Cost Of Revenue $489.6M $1.716B $398.1M
YoY Change 22.98% 19.38% 23.29%
Gross Profit $193.6M $580.2M $118.7M
YoY Change 63.1% 40.79% 30.15%
Gross Profit Margin 28.34% 25.27% 22.97%
Selling, General & Admin $80.30M $311.9M $72.90M
YoY Change 10.15% 9.98% -0.27%
% of Gross Profit 41.48% 53.76% 61.42%
Research & Development $17.00M
YoY Change 6.25%
% of Gross Profit 2.93%
Depreciation & Amortization $15.10M $59.30M $17.60M
YoY Change -14.2% -13.43% 10.0%
% of Gross Profit 7.8% 10.22% 14.83%
Operating Expenses $80.30M $328.9M $72.90M
YoY Change 10.15% 9.78% -0.27%
Operating Profit $113.3M $318.6M $46.90M
YoY Change 141.58% 71.2% 87.6%
Interest Expense -$5.800M $32.50M -$14.80M
YoY Change -60.81% -10.22% 28.7%
% of Operating Profit -5.12% 10.2% -31.56%
Other Income/Expense, Net $6.300M $900.0K -$5.000M
YoY Change -226.0% -47.06% 92.31%
Pretax Income $113.3M $257.8M $26.30M
YoY Change 330.8% 156.26% 189.01%
Income Tax $24.90M $60.10M -$5.300M
% Of Pretax Income 21.98% 23.31% -20.15%
Net Earnings $52.00M $127.2M $24.50M
YoY Change 112.24% 130.43% 126.85%
Net Earnings / Revenue 7.61% 5.54% 4.74%
Basic Earnings Per Share $4.46
Diluted Earnings Per Share $1.825M $4.46 $859.6K
COMMON SHARES
Basic Shares Outstanding 28.50M
Diluted Shares Outstanding 28.50M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $701.0M $701.0M $523.0M
YoY Change 34.03% 34.03% -0.55%
Cash & Equivalents $698.4M $698.4M $518.6M
Short-Term Investments $2.600M $2.600M $4.400M
Other Short-Term Assets $109.8M $109.8M $36.00M
YoY Change 205.0% 120.04% 69.81%
Inventory $458.7M $458.7M $538.2M
Prepaid Expenses
Receivables $342.7M $342.7M $304.9M
Other Receivables $61.00M $61.00M $37.40M
Total Short-Term Assets $1.673B $1.673B $1.453B
YoY Change 15.12% 15.12% 1.96%
LONG-TERM ASSETS
Property, Plant & Equipment $563.6M $619.5M $590.4M
YoY Change -4.54% -13.05% 4.87%
Goodwill $379.7M $379.7M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $105.2M $105.2M $106.2M
YoY Change -0.94% -0.94% 10.17%
Other Assets $200.0M $154.5M $231.0M
YoY Change -13.42% -11.76% 6.7%
Total Long-Term Assets $1.332B $1.332B $1.436B
YoY Change -7.24% -7.24% 4.89%
TOTAL ASSETS
Total Short-Term Assets $1.673B $1.673B $1.453B
Total Long-Term Assets $1.332B $1.332B $1.436B
Total Assets $3.005B $3.005B $2.889B
YoY Change 4.01% 4.01% 3.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $152.7M $171.5M $117.6M
YoY Change 29.85% 18.11% -18.73%
Accrued Expenses $264.8M $150.8M $143.0M
YoY Change 85.17% 11.95% 9.58%
Deferred Revenue $125.8M $20.10M
YoY Change 525.87% 95.15%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.100M $3.100M $2.400M
YoY Change 29.17% 29.17% -51.02%
Total Short-Term Liabilities $463.5M $463.5M $318.1M
YoY Change 45.71% 45.71% -1.36%
LONG-TERM LIABILITIES
Long-Term Debt $649.9M $649.9M $786.2M
YoY Change -17.34% -17.34% -0.41%
Other Long-Term Liabilities $257.5M $683.7M $174.5M
YoY Change 47.56% -7.82% 27.28%
Total Long-Term Liabilities $1.383B $1.334B $1.564B
YoY Change -11.57% -12.72% 4.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $463.5M $463.5M $318.1M
Total Long-Term Liabilities $1.383B $1.334B $1.564B
Total Liabilities $1.847B $2.176B $1.882B
YoY Change -1.89% -1.41% 3.75%
SHAREHOLDERS EQUITY
Retained Earnings $401.1M $282.9M
YoY Change 41.78% 18.17%
Common Stock $300.0K $300.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $49.60M $49.60M
YoY Change 0.0% 0.0%
Treasury Stock Shares $1.100M $1.100M
Shareholders Equity $829.5M $829.5M $682.5M
YoY Change
Total Liabilities & Shareholders Equity $3.005B $3.005B $2.889B
YoY Change 4.01% 4.01% 3.4%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $52.00M $127.2M $24.50M
YoY Change 112.24% 130.43% 126.85%
Depreciation, Depletion And Amortization $15.10M $59.30M $17.60M
YoY Change -14.2% -13.43% 10.0%
Cash From Operating Activities $270.5M $459.7M $107.0M
YoY Change 152.8% 202.04% 66.67%
INVESTING ACTIVITIES
Capital Expenditures -$24.90M $64.10M -$25.20M
YoY Change -1.19% -2.14% 14.55%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$2.100M $4.800M
YoY Change -102.08% -22.22% -4.0%
Cash From Investing Activities -$25.00M -$37.40M -$20.40M
YoY Change 22.55% -34.39% 20.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.500M
YoY Change 50.0%
Debt Paid & Issued, Net $102.3M
YoY Change 74.87%
Cash From Financing Activities -64.90M -189.1M -70.90M
YoY Change -8.46% 54.37% 319.53%
NET CHANGE
Cash From Operating Activities 270.5M 459.7M 107.0M
Cash From Investing Activities -25.00M -37.40M -20.40M
Cash From Financing Activities -64.90M -189.1M -70.90M
Net Change In Cash 180.6M 222.6M 15.70M
YoY Change 1050.32% -1748.89% -48.18%
FREE CASH FLOW
Cash From Operating Activities $270.5M $459.7M $107.0M
Capital Expenditures -$24.90M $64.10M -$25.20M
Free Cash Flow $295.4M $395.6M $132.2M
YoY Change 123.45% 356.29% 53.36%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Management’s estimates.</span> The preparation of our Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires us to make estimates and assumptions that affect the reported amounts of our assets and liabilities and disclosures of contingent assets and liabilities at each balance sheet date and the reported amounts of our revenues and expenses during each reporting period. Actual results may differ significantly from previously-estimated amounts under different assumptions or conditions. </p>
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4500000
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