2019 Q4 Form 10-Q Financial Statement

#000010359519000020 Filed on December 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $407.4M $401.6M
YoY Change 1.46% 3.67%
Cost Of Revenue $293.9M $289.4M
YoY Change 1.53% 2.44%
Gross Profit $113.5M $112.1M
YoY Change 1.28% 6.99%
Gross Profit Margin 27.87% 27.92%
Selling, General & Admin $103.1M $96.30M
YoY Change 7.06% 3.33%
% of Gross Profit 90.8% 85.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.438M $6.898M
YoY Change 7.83% 10.63%
% of Gross Profit 6.55% 6.15%
Operating Expenses $110.5M $103.2M
YoY Change 7.07% 3.72%
Operating Profit $2.968M $8.922M
YoY Change -66.73% 66.7%
Interest Expense $567.0K $1.116M
YoY Change -49.19% 1.0%
% of Operating Profit 19.1% 12.51%
Other Income/Expense, Net
YoY Change
Pretax Income $3.660M $8.984M
YoY Change -59.26% 74.55%
Income Tax $1.093M $2.715M
% Of Pretax Income 29.86% 30.22%
Net Earnings $2.567M $6.269M
YoY Change -59.05% 107.86%
Net Earnings / Revenue 0.63% 1.56%
Basic Earnings Per Share
Diluted Earnings Per Share $141.3K $344.3K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.90M $88.80M
YoY Change -12.27% 19.03%
Cash & Equivalents $77.94M $88.83M
Short-Term Investments
Other Short-Term Assets $16.83M $20.80M
YoY Change -19.05% 15.8%
Inventory $40.68M $39.30M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $151.8M $189.5M
YoY Change -19.91% 24.47%
LONG-TERM ASSETS
Property, Plant & Equipment $224.5M $216.3M
YoY Change 3.79% 5.95%
Goodwill $12.65M $12.06M
YoY Change 4.92% 0.0%
Intangibles
YoY Change
Long-Term Investments $28.80M $28.60M
YoY Change 0.7% 5.54%
Other Assets $16.90M $13.90M
YoY Change 21.58% 69.51%
Total Long-Term Assets $429.9M $294.3M
YoY Change 46.06% -0.78%
TOTAL ASSETS
Total Short-Term Assets $151.8M $189.5M
Total Long-Term Assets $429.9M $294.3M
Total Assets $581.7M $483.9M
YoY Change 20.22% 7.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.60M $57.60M
YoY Change 12.15% 1.59%
Accrued Expenses $30.40M $17.70M
YoY Change 71.75% 11.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $1.500M
YoY Change -66.67% 50.0%
Total Short-Term Liabilities $120.4M $100.4M
YoY Change 19.99% 11.39%
LONG-TERM LIABILITIES
Long-Term Debt $30.50M $48.70M
YoY Change -37.37% 14.86%
Other Long-Term Liabilities $108.3M $28.30M
YoY Change 282.69% -2.41%
Total Long-Term Liabilities $138.8M $77.00M
YoY Change 80.26% 7.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $120.4M $100.4M
Total Long-Term Liabilities $138.8M $77.00M
Total Liabilities $259.2M $177.3M
YoY Change 46.19% 9.78%
SHAREHOLDERS EQUITY
Retained Earnings $273.6M $261.2M
YoY Change 4.77% 6.98%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $322.4M $306.6M
YoY Change
Total Liabilities & Shareholders Equity $581.7M $483.9M
YoY Change 20.22% 7.79%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $2.567M $6.269M
YoY Change -59.05% 107.86%
Depreciation, Depletion And Amortization $7.438M $6.898M
YoY Change 7.83% 10.63%
Cash From Operating Activities $3.375M $6.125M
YoY Change -44.9% -374.79%
INVESTING ACTIVITIES
Capital Expenditures $22.35M $8.571M
YoY Change 160.75% 29.3%
Acquisitions
YoY Change
Other Investing Activities -$800.0K -$740.0K
YoY Change 8.11% 85.0%
Cash From Investing Activities -$23.15M -$9.314M
YoY Change 148.5% 32.43%
FINANCING ACTIVITIES
Cash Dividend Paid $3.220M $3.222M
YoY Change -0.06% 0.12%
Common Stock Issuance & Retirement, Net $20.00K $565.0K
YoY Change -96.46% 266.88%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$3.410M -$4.085M
YoY Change -16.52% 14.04%
NET CHANGE
Cash From Operating Activities $3.375M $6.125M
Cash From Investing Activities -$23.15M -$9.314M
Cash From Financing Activities -$3.410M -$4.085M
Net Change In Cash -$23.18M -$7.274M
YoY Change 218.67% -43.37%
FREE CASH FLOW
Cash From Operating Activities $3.375M $6.125M
Capital Expenditures $22.35M $8.571M
Free Cash Flow -$18.97M -$2.446M
YoY Change 675.72% -72.39%

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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-102000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-101000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
43000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
44000 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
316000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
316000 USD
CY2019Q3 us-gaap Other Liabilities
OtherLiabilities
18659000 USD
CY2019Q4 us-gaap Other Liabilities
OtherLiabilities
6518000 USD
CY2018Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
565000 USD
CY2019Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000 USD
CY2018Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
3222000 USD
CY2019Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
3220000 USD
CY2018Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8571000 USD
CY2019Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22349000 USD
CY2019Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
4759000 USD
CY2019Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
4672000 USD
CY2019Q3 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.64
CY2019Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.64
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-743000 USD
CY2019Q4 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-796000 USD
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
224890000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
224489000 USD
CY2018Q4 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
298000 USD
CY2019Q4 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
170000 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
270753000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
273614000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
401550000 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
407402000 USD
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
821000 USD
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
833000 USD
CY2018Q4 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
821000 USD
CY2019Q4 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
863000 USD
CY2019Q4 us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
30000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
303145000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
306550000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
318672000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
322447000 USD
CY2018Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
565000 USD
CY2019Q4 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
20000 USD
CY2019Q4 us-gaap Variable Lease Cost
VariableLeaseCost
3695000 USD
CY2018Q4 vlgea Capital Leases Income Statement Depreciation Expense
CapitalLeasesIncomeStatementDepreciationExpense
107000 USD
CY2018Q4 vlgea Change In Patronage Dividend Receivable
ChangeInPatronageDividendReceivable
4351000 USD
CY2019Q4 vlgea Change In Patronage Dividend Receivable
ChangeInPatronageDividendReceivable
4367000 USD
CY2019Q4 vlgea Conversionof Stock Conversion Ratio
ConversionofStockConversionRatio
1
CY2019Q4 vlgea Dividends Common Stock Cash Percent Class Ais Entitled Greaterthan Class B
DividendsCommonStockCashPercentClassAisEntitledGreaterthanClassB
0.54
CY2019Q4 vlgea Lease Liability
LeaseLiability
132428000 USD
CY2019Q4 vlgea Lease Liability Payments Due
LeaseLiabilityPaymentsDue
186140000 USD
CY2019Q4 vlgea Lease Liability Payments Due After Year Five
LeaseLiabilityPaymentsDueAfterYearFive
103737000 USD
CY2019Q4 vlgea Lease Liability Payments Due Year Five
LeaseLiabilityPaymentsDueYearFive
15058000 USD
CY2019Q4 vlgea Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
17193000 USD
CY2019Q4 vlgea Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
17347000 USD
CY2019Q4 vlgea Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
18142000 USD
CY2019Q4 vlgea Lease Liability Payments Remainder Of Fiscal Year
LeaseLiabilityPaymentsRemainderOfFiscalYear
14663000 USD
CY2019Q4 vlgea Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
53712000 USD
CY2019Q4 vlgea Lessee Lease Lease Not Yet Commenced Liability
LesseeLeaseLeaseNotYetCommencedLiability
9280000 USD
CY2019Q4 vlgea Lessee Lease Number Of Contracts
LesseeLeaseNumberOfContracts
27 contract
CY2019Q4 vlgea Numberof Classesof Common Stock
NumberofClassesofCommonStock
2 class_common_stock
CY2019Q4 vlgea Numberof Defined Benefit Pension Plans
NumberofDefinedBenefitPensionPlans
4 pension_plan
CY2019Q3 vlgea Patronage Dividend Receivable
PatronageDividendReceivable
11908000 USD
CY2019Q4 vlgea Patronage Dividend Receivable
PatronageDividendReceivable
16275000 USD

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