2019 Q2 Form 10-Q Financial Statement

#000010359519000006 Filed on June 04, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $395.5M $394.6M $418.3M
YoY Change 0.22% 0.67% 1.47%
Cost Of Revenue $284.8M $285.6M $304.8M
YoY Change -0.27% 0.69% 1.27%
Gross Profit $110.6M $109.8M $113.5M
YoY Change 0.71% 1.38% 2.0%
Gross Profit Margin 27.97% 27.83% 27.13%
Selling, General & Admin $97.40M $93.80M $97.20M
YoY Change 3.84% 2.51% 2.97%
% of Gross Profit 88.06% 85.41% 85.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.566M $6.083M $6.386M
YoY Change 7.94% 0.35% 2.45%
% of Gross Profit 5.94% 5.54% 5.63%
Operating Expenses $104.0M $99.90M $103.6M
YoY Change 4.1% 2.36% 2.98%
Operating Profit $6.694M $9.014M $9.833M
YoY Change -25.74% -16.06% -7.34%
Interest Expense $1.106M $1.133M $1.102M
YoY Change -2.38% 1.98% -1.08%
% of Operating Profit 16.52% 12.57% 11.21%
Other Income/Expense, Net
YoY Change
Pretax Income $6.990M $8.893M $9.595M
YoY Change -21.4% -14.1% -5.43%
Income Tax $2.020M $2.351M $84.00K
% Of Pretax Income 28.9% 26.44% 0.88%
Net Earnings $4.970M $6.542M $9.511M
YoY Change -24.03% 8.76% 58.73%
Net Earnings / Revenue 1.26% 1.66% 2.27%
Basic Earnings Per Share
Diluted Earnings Per Share $271.7K $355.2K $519.1K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.1M $79.90M $89.70M
YoY Change 30.29% -0.87% 7.94%
Cash & Equivalents $104.1M $86.45M $96.30M
Short-Term Investments
Other Short-Term Assets $17.01M $16.95M $18.42M
YoY Change 0.35% 11.36% -1.92%
Inventory $38.92M $41.25M $42.35M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $169.8M $172.6M $158.0M
YoY Change -1.6% -0.15% -11.7%
LONG-TERM ASSETS
Property, Plant & Equipment $214.6M $210.5M $205.4M
YoY Change 1.94% 3.7% 1.63%
Goodwill $12.06M $12.06M $12.06M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $28.60M $27.10M $27.10M
YoY Change 5.54% 0.0% 0.0%
Other Assets $14.50M $19.30M $19.60M
YoY Change -24.87% 150.65% 151.28%
Total Long-Term Assets $319.1M $291.7M $309.9M
YoY Change 9.38% 7.19% 14.33%
TOTAL ASSETS
Total Short-Term Assets $169.8M $172.6M $158.0M
Total Long-Term Assets $319.1M $291.7M $309.9M
Total Assets $488.9M $464.3M $467.9M
YoY Change 5.3% 4.34% 3.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $59.70M $56.90M $63.30M
YoY Change 4.92% 6.75% 5.15%
Accrued Expenses $19.10M $17.80M $16.60M
YoY Change 7.3% 10.56% 6.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $900.0K $1.000M
YoY Change 11.11% 0.0% 11.11%
Total Short-Term Liabilities $101.8M $95.13M $98.14M
YoY Change 7.03% 8.51% 5.27%
LONG-TERM LIABILITIES
Long-Term Debt $48.00M $48.50M $48.70M
YoY Change -1.03% 13.05% 12.99%
Other Long-Term Liabilities $23.50M $22.30M $26.80M
YoY Change 5.38% -37.88% -23.21%
Total Long-Term Liabilities $71.50M $70.80M $75.50M
YoY Change 0.99% -10.15% -3.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $101.8M $95.13M $98.14M
Total Long-Term Liabilities $71.50M $70.80M $75.50M
Total Liabilities $173.4M $165.9M $173.7M
YoY Change 4.52% -0.3% 1.46%
SHAREHOLDERS EQUITY
Retained Earnings $267.3M $253.7M $250.4M
YoY Change 5.33% 5.4% 5.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $315.6M $298.4M $294.2M
YoY Change
Total Liabilities & Shareholders Equity $488.9M $464.3M $467.9M
YoY Change 5.3% 4.34% 3.98%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $4.970M $6.542M $9.511M
YoY Change -24.03% 8.76% 58.73%
Depreciation, Depletion And Amortization $6.566M $6.083M $6.386M
YoY Change 7.94% 0.35% 2.45%
Cash From Operating Activities $3.890M $3.300M $30.65M
YoY Change 17.88% -70.3% 11.58%
INVESTING ACTIVITIES
Capital Expenditures -$5.190M -$9.150M -$6.100M
YoY Change -43.28% 35.56% -1.77%
Acquisitions $5.267M
YoY Change
Other Investing Activities -$690.0K -$540.0K -$5.470M
YoY Change 27.78% 10.2% 1063.83%
Cash From Investing Activities -$5.880M -$9.690M -$11.57M
YoY Change -39.32% 34.02% 72.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.420M -3.460M 2.620M
YoY Change -30.06% -46.27% -174.22%
NET CHANGE
Cash From Operating Activities 3.890M 3.300M 30.65M
Cash From Investing Activities -5.880M -9.690M -11.57M
Cash From Financing Activities -2.420M -3.460M 2.620M
Net Change In Cash -4.410M -9.850M 21.70M
YoY Change -55.23% 284.77% 25.8%
FREE CASH FLOW
Cash From Operating Activities $3.890M $3.300M $30.65M
Capital Expenditures -$5.190M -$9.150M -$6.100M
Free Cash Flow $9.080M $12.45M $36.75M
YoY Change -27.07% -30.29% 9.12%

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OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax
302000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
99000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
285000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
404000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
608000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-99000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-285000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-102000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-306000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
43000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
141000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
43000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
131000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
43000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
141000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
172000 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
260000 USD
CY2018Q3 us-gaap Other Liabilities
OtherLiabilities
20080000 USD
CY2019Q2 us-gaap Other Liabilities
OtherLiabilities
20098000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
632000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
729000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
297000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
9656000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
9658000 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
4835000 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21883000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18815000 USD
CY2018Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
8482000 USD
CY2019Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
3417000 USD
CY2018Q3 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.65
CY2019Q2 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.65
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
6860000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-23875000 USD
us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-27263000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
22172000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Longterm Investments
ProceedsFromSaleMaturityAndCollectionOfLongtermInvestments
24937000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
130000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
102000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1008000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
214566000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
214577000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
695000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1354000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
258104000 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
267256000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
395437000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1201045000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
395458000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1225137000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2515000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2387000 USD
CY2018Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
837000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
2564000 USD
CY2019Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
871000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
2514000 USD
CY2018Q2 us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
43000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
49000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
127000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1008000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1008000 USD
vlgea Conversionof Stock Conversion Ratio
ConversionofStockConversionRatio
1
vlgea Dividends Common Stock Cash Percent Class Ais Entitled Greaterthan Class B
DividendsCommonStockCashPercentClassAisEntitledGreaterthanClassB
0.54
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
286820000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
294185000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
298402000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
303145000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
311540000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
315571000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
632000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
729000 USD
vlgea Change In Patronage Dividend Receivable
ChangeInPatronageDividendReceivable
-4293000 USD
vlgea Change In Patronage Dividend Receivable
ChangeInPatronageDividendReceivable
-3575000 USD
CY2017Q4 vlgea Interest On Unrelated Party Note Receivable Percentage
InterestOnUnrelatedPartyNoteReceivablePercentage
0.01403
CY2019Q2 vlgea Letters Of Credit
LettersOfCredit
3000000 USD
vlgea Numberof Classesof Common Stock
NumberofClassesofCommonStock
2 class_common_stock
vlgea Numberof Defined Benefit Pension Plans
NumberofDefinedBenefitPensionPlans
4 pension_plan
CY2018Q3 vlgea Patronage Dividend Receivable
PatronageDividendReceivable
11937000 USD
CY2019Q2 vlgea Patronage Dividend Receivable
PatronageDividendReceivable
8362000 USD
CY2018Q2 vlgea Percentageof Total Sales
PercentageofTotalSales
1
vlgea Percentageof Total Sales
PercentageofTotalSales
1
CY2019Q2 vlgea Percentageof Total Sales
PercentageofTotalSales
1
vlgea Percentageof Total Sales
PercentageofTotalSales
1
CY2017Q4 vlgea Third Party Contributionto Investment Fund
ThirdPartyContributiontoInvestmentFund
2375000 USD

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