2021 Form 10-K Financial Statement
#000119312522060946 Filed on March 01, 2022
Income Statement
| Concept | 2021 | 2020 | 2019 |
|---|---|---|---|
| Revenue | $359.4M | $296.6M | $263.0M |
| YoY Change | 21.16% | 12.78% | -9.69% |
| Cost Of Revenue | $181.2M | $165.1M | $140.0M |
| YoY Change | 9.73% | 17.93% | -8.05% |
| Gross Profit | $178.2M | $131.4M | $123.0M |
| YoY Change | 35.62% | 6.83% | -11.49% |
| Gross Profit Margin | 49.59% | 44.3% | 46.77% |
| Selling, General & Admin | $69.48M | $63.20M | $62.60M |
| YoY Change | 9.94% | 0.96% | 0.6% |
| % of Gross Profit | 38.99% | 48.1% | 50.89% |
| Research & Development | $53.11M | $50.90M | $46.60M |
| YoY Change | 4.35% | 9.23% | 5.23% |
| % of Gross Profit | 29.81% | 38.74% | 37.89% |
| Depreciation & Amortization | $11.71M | $11.06M | $10.33M |
| YoY Change | 5.83% | 7.07% | 11.63% |
| % of Gross Profit | 6.57% | 8.42% | 8.4% |
| Operating Expenses | $122.6M | $114.1M | $109.2M |
| YoY Change | 7.45% | 4.49% | 2.14% |
| Operating Profit | $55.60M | $17.30M | $13.80M |
| YoY Change | 221.4% | 25.36% | -56.95% |
| Interest Expense | $716.0K | $300.0K | $200.0K |
| YoY Change | 138.67% | 50.0% | |
| % of Operating Profit | 1.29% | 1.73% | 1.45% |
| Other Income/Expense, Net | $559.0K | $800.0K | $900.0K |
| YoY Change | -30.13% | -11.11% | 2.97% |
| Pretax Income | $56.81M | $18.50M | $14.90M |
| YoY Change | 207.05% | 24.16% | -54.76% |
| Income Tax | $176.0K | $500.0K | $800.0K |
| % Of Pretax Income | 0.31% | 2.7% | 5.37% |
| Net Earnings | $56.63M | $17.90M | $14.10M |
| YoY Change | 216.34% | 26.95% | -55.56% |
| Net Earnings / Revenue | 15.76% | 6.04% | 5.36% |
| Basic Earnings Per Share | $1.30 | $0.42 | |
| Diluted Earnings Per Share | $1.259M | $407.7K | $338.1K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 43.65M | 42.19M | 40.33M |
| Diluted Shares Outstanding | 44.97M | 43.87M | 41.68M |
Balance Sheet
| Concept | 2021 | 2020 | 2019 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $227.6M | $211.9M | $84.70M |
| YoY Change | 7.42% | 150.18% | 19.97% |
| Cash & Equivalents | $182.4M | $161.7M | $84.70M |
| Short-Term Investments | $45.22M | $50.20M | |
| Other Short-Term Assets | $6.708M | $6.800M | $7.100M |
| YoY Change | -1.35% | -4.23% | 102.86% |
| Inventory | $67.32M | $57.30M | $49.20M |
| Prepaid Expenses | |||
| Receivables | $55.10M | $41.00M | $38.10M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $356.8M | $316.9M | $179.1M |
| YoY Change | 12.58% | 76.94% | 8.48% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $116.0M | $74.80M | $57.00M |
| YoY Change | 55.05% | 31.23% | 13.1% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $2.639M | $2.500M | $2.500M |
| YoY Change | 5.56% | 0.0% | 0.0% |
| Other Assets | $1.499M | $1.500M | $1.700M |
| YoY Change | -0.07% | -11.76% | -32.0% |
| Total Long-Term Assets | $120.4M | $79.30M | $61.60M |
| YoY Change | 51.89% | 28.73% | 10.0% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $356.8M | $316.9M | $179.1M |
| Total Long-Term Assets | $120.4M | $79.30M | $61.60M |
| Total Assets | $477.2M | $396.2M | $240.7M |
| YoY Change | 20.45% | 64.6% | 8.86% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $21.19M | $14.10M | $9.000M |
| YoY Change | 50.28% | 56.67% | -44.1% |
| Accrued Expenses | $18.46M | $18.30M | $14.60M |
| YoY Change | 0.89% | 25.34% | 8.15% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $49.09M | $40.50M | $29.90M |
| YoY Change | 21.22% | 35.45% | -16.94% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $4.207M | $4.600M | $4.900M |
| YoY Change | -8.54% | -6.12% | 390.0% |
| Total Long-Term Liabilities | $4.207M | $4.600M | $4.900M |
| YoY Change | -8.54% | -6.12% | 390.0% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $49.09M | $40.50M | $29.90M |
| Total Long-Term Liabilities | $4.207M | $4.600M | $4.900M |
| Total Liabilities | $53.61M | $45.40M | $35.20M |
| YoY Change | 18.07% | 28.98% | -5.88% |
| 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 | $423.6M | $350.8M | $205.6M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $477.2M | $396.2M | $240.7M |
| YoY Change | 20.45% | 64.6% | 8.86% |
Cashflow Statement
| Concept | 2021 | 2020 | 2019 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $56.63M | $17.90M | $14.10M |
| YoY Change | 216.34% | 26.95% | -55.56% |
| Depreciation, Depletion And Amortization | $11.71M | $11.06M | $10.33M |
| YoY Change | 5.83% | 7.07% | 11.63% |
| Cash From Operating Activities | $54.44M | $34.55M | $22.21M |
| YoY Change | 57.58% | 55.56% | -38.6% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$47.76M | -$28.65M | -$12.49M |
| YoY Change | 66.71% | 129.38% | -168.58% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $4.100M | -$49.97M | $0.00 |
| YoY Change | -108.2% | -100.0% | |
| Cash From Investing Activities | -$43.66M | -$78.62M | -$12.48M |
| YoY Change | -44.47% | 529.97% | -31.58% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 10.09M | 121.0M | 4.370M |
| YoY Change | -91.66% | 2669.79% | -47.89% |
| NET CHANGE | |||
| Cash From Operating Activities | 54.44M | 34.55M | 22.21M |
| Cash From Investing Activities | -43.66M | -78.62M | -12.48M |
| Cash From Financing Activities | 10.09M | 121.0M | 4.370M |
| Net Change In Cash | 20.87M | 76.97M | 14.10M |
| YoY Change | -72.88% | 445.89% | -46.42% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $54.44M | $34.55M | $22.21M |
| Capital Expenditures | -$47.76M | -$28.65M | -$12.49M |
| Free Cash Flow | $102.2M | $63.20M | $34.70M |
| YoY Change | 61.72% | 82.13% | 93.21% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1315000 | |
| CY2020 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1683000 | |
| CY2019 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1347000 | |
| CY2021 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
44966000 | |
| CY2020 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
43869000 | |
| CY2019 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
41677000 | |
| CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List
OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2021-01-31#OperatingLeaseRightOfUseAsset | |
| CY2021 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-425000 | |
| CY2020 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
200000 | |
| CY2019 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
33000 | |
| CY2021 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-732000 | |
| CY2020 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-6000 | |
| CY2019 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-20000 | |
| CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
43651000 | |
| CY2020 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
42186000 | |
| CY2019 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40330000 |
