2019 Q3 Form 10-Q Financial Statement

#000010541819000031 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $876.2M $888.0M $871.1M
YoY Change 0.82% 1.94% 2.21%
Cost Of Revenue $643.4M $651.3M $630.8M
YoY Change 1.05% 3.25% 1.22%
Gross Profit $232.8M $236.7M $240.3M
YoY Change 0.21% -1.51% 4.92%
Gross Profit Margin 26.57% 26.65% 27.59%
Selling, General & Admin $215.3M $210.8M $214.3M
YoY Change 0.23% -1.63% 2.63%
% of Gross Profit 92.47% 89.07% 89.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.60M $23.20M $23.30M
YoY Change 0.43% -0.43% 10.95%
% of Gross Profit 10.14% 9.8% 9.7%
Operating Expenses $215.3M $210.8M $214.3M
YoY Change 0.23% -1.63% 2.63%
Operating Profit $17.54M $26.30M $26.04M
YoY Change 0.01% 1.0% 28.67%
Interest Expense $1.500M $1.100M $100.0K
YoY Change 36.36% 1000.0% -87.5%
% of Operating Profit 8.55% 4.18% 0.38%
Other Income/Expense, Net -$39.00K -$428.0K
YoY Change
Pretax Income $18.97M $26.95M $26.14M
YoY Change 1.79% 3.08% 23.9%
Income Tax $4.652M $6.473M $7.047M
% Of Pretax Income 24.52% 24.02% 26.96%
Net Earnings $14.32M $20.48M $19.10M
YoY Change 0.79% 7.23% 61.33%
Net Earnings / Revenue 1.63% 2.31% 2.19%
Basic Earnings Per Share
Diluted Earnings Per Share $531.6K $762.1K $710.0K
COMMON SHARES
Basic Shares Outstanding 26.90M 26.90M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.1M $127.2M $109.2M
YoY Change 25.0% 16.48% 22.42%
Cash & Equivalents $76.58M $51.65M $34.62M
Short-Term Investments $60.54M $75.50M $74.60M
Other Short-Term Assets $21.30M $16.40M $17.40M
YoY Change -1.84% -5.75% 2.96%
Inventory $263.2M $266.3M $273.4M
Prepaid Expenses $16.44M
Receivables $53.10M $54.37M $52.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $492.6M $464.3M $452.9M
YoY Change 5.17% 2.53% -1.29%
LONG-TERM ASSETS
Property, Plant & Equipment $1.075B $877.2M $886.2M
YoY Change 21.99% -1.01% 1.85%
Goodwill $52.33M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.145B $1.138B $959.4M
YoY Change 19.76% 18.57% 2.0%
TOTAL ASSETS
Total Short-Term Assets $492.6M $464.3M $452.9M
Total Long-Term Assets $1.145B $1.138B $959.4M
Total Assets $1.637B $1.602B $1.412B
YoY Change 14.96% 13.43% 0.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $183.4M $168.1M $192.2M
YoY Change -4.38% -12.55% 12.46%
Accrued Expenses $84.80M $24.88M $54.80M
YoY Change 100.52% -54.6% 9.82%
Deferred Revenue $5.783M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $284.7M $260.8M $258.6M
YoY Change 8.83% 0.85% 14.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $211.8M $8.163M $53.40M
YoY Change 1338.76% -84.71% 19.46%
Total Long-Term Liabilities $211.8M $8.163M $53.40M
YoY Change 1338.76% -84.71% -53.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $284.7M $260.8M $258.6M
Total Long-Term Liabilities $211.8M $8.163M $53.40M
Total Liabilities $589.3M $559.8M $400.7M
YoY Change 44.89% 39.71% -14.53%
SHAREHOLDERS EQUITY
Retained Earnings $1.182B
YoY Change
Common Stock $9.949M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $150.9M
YoY Change
Treasury Stock Shares $6.149M $6.149M
Shareholders Equity $1.048B $1.042B $1.012B
YoY Change
Total Liabilities & Shareholders Equity $1.637B $1.602B $1.412B
YoY Change 14.96% 13.43% 0.92%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $14.32M $20.48M $19.10M
YoY Change 0.79% 7.23% 61.33%
Depreciation, Depletion And Amortization $23.60M $23.20M $23.30M
YoY Change 0.43% -0.43% 10.95%
Cash From Operating Activities $61.00M $46.30M $33.40M
YoY Change 118.64% 38.62% 328.21%
INVESTING ACTIVITIES
Capital Expenditures -$25.70M -$19.90M -$24.70M
YoY Change 28.5% -19.43% 34.97%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $1.700M $1.600M
YoY Change -150.0% 6.25% -46.67%
Cash From Investing Activities -$27.70M -$18.20M -$23.10M
YoY Change 72.05% -21.21% 50.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.300M -8.400M -26.00M
YoY Change 2.47% -67.69% 1429.41%
NET CHANGE
Cash From Operating Activities 61.00M 46.30M 33.40M
Cash From Investing Activities -27.70M -18.20M -23.10M
Cash From Financing Activities -8.300M -8.400M -26.00M
Net Change In Cash 25.00M 19.70M -15.70M
YoY Change 575.68% -225.48% 70.65%
FREE CASH FLOW
Cash From Operating Activities $61.00M $46.30M $33.40M
Capital Expenditures -$25.70M -$19.90M -$24.70M
Free Cash Flow $86.70M $66.20M $58.10M
YoY Change 81.0% 13.94% 122.61%

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us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-556000
CY2018Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
73000
us-gaap Interest Expense Debt
InterestExpenseDebt
33000
CY2019Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
14000
us-gaap Interest Paid Net
InterestPaidNet
318000
us-gaap Investment Income Net
InvestmentIncomeNet
-187000
CY2018Q2 us-gaap Investment Income Net
InvestmentIncomeNet
178000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-51127000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46394000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
84227000
us-gaap Net Income Loss
NetIncomeLoss
35286000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
19095000
us-gaap Net Income Loss
NetIncomeLoss
34780000
CY2019Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
16439000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2800000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
514000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
321000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Operating Income Loss
OperatingIncomeLoss
48876000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
26037000
us-gaap Operating Income Loss
OperatingIncomeLoss
41848000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
25869000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
11415000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
199011000
CY2018Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0384
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0357
CY2018Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M9D
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M7D
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-406000
CY2018Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-42000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1075000
CY2019Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
454000
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-42000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
454000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
15000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax
0
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
172000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
14000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-423000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-179000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
15201000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16139000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
586000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1662000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
46367000
CY2019Q2 wmk Cost Of Sales Including Warehousing And Distribution Expenses
CostOfSalesIncludingWarehousingAndDistributionExpenses
651297000
wmk Increase Decrease In Accounts Receivable And Prepaid Expenses
IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses
-5436000
CY2019Q2 wmk Intangible Assets Assets And Other Assets Net Excluding Goodwill
IntangibleAssetsAssetsAndOtherAssetsNetExcludingGoodwill
18079000
wmk Payments For Serp Investments
PaymentsForSerpInvestments
1414000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
34988000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1747206000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
871100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1764686000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
887967000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1000600000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1011583000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1029485000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
1042076000
CY2019Q2 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
1192933000
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
6149364
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
6149364
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-1238000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26898443
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26898443
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26898443
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26898443
wmk Cost Of Sales Including Warehousing And Distribution Expenses
CostOfSalesIncludingWarehousingAndDistributionExpenses
1272004000
CY2018Q2 wmk Cost Of Sales Including Warehousing And Distribution Expenses
CostOfSalesIncludingWarehousingAndDistributionExpenses
630805000
wmk Cost Of Sales Including Warehousing And Distribution Expenses
CostOfSalesIncludingWarehousingAndDistributionExpenses
1298463000
wmk Investment Income Loss And Interest Expense
InvestmentIncomeLossAndInterestExpense
-427000
CY2018Q2 wmk Investment Income Loss And Interest Expense
InvestmentIncomeLossAndInterestExpense
105000
wmk Investment Income Loss And Interest Expense
InvestmentIncomeLossAndInterestExpense
3975000
CY2019Q2 wmk Investment Income Loss And Interest Expense
InvestmentIncomeLossAndInterestExpense
1079000

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