2024 Q3 Form 10-Q Financial Statement

#000010838524000038 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $131.4M $129.5M
YoY Change -3.99% -7.03%
Cost Of Revenue $10.46M $9.769M
YoY Change -17.66% -20.2%
Gross Profit $121.0M $119.8M
YoY Change -2.54% -5.76%
Gross Profit Margin 92.04% 92.46%
Selling, General & Admin $45.40M $60.41M
YoY Change -26.66% -9.92%
% of Gross Profit 37.53% 50.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $959.0K $1.006M
YoY Change -63.12% -5.89%
% of Gross Profit 0.79% 0.84%
Operating Expenses $93.02M $106.8M
YoY Change -10.12% -6.88%
Operating Profit $27.93M $12.93M
YoY Change 35.57% 4.63%
Interest Expense $10.46M $9.769M
YoY Change -16.63% -20.2%
% of Operating Profit 37.44% 75.57%
Other Income/Expense, Net
YoY Change
Pretax Income $27.93M $12.93M
YoY Change 33.49% 4.63%
Income Tax $5.800M $2.980M
% Of Pretax Income 20.77% 23.05%
Net Earnings $22.13M $9.947M
YoY Change 37.59% 4.28%
Net Earnings / Revenue 16.84% 7.68%
Basic Earnings Per Share $4.05 $1.82
Diluted Earnings Per Share $3.99 $1.79
COMMON SHARES
Basic Shares Outstanding 5.855M shares 5.845M shares
Diluted Shares Outstanding 5.549M shares 5.568M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.746M $11.12M
YoY Change -48.16% -30.46%
Cash & Equivalents $9.746M $11.12M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.746M $11.12M
YoY Change -48.16% -30.46%
LONG-TERM ASSETS
Property, Plant & Equipment $102.0M $103.1M
YoY Change 330.66% -0.24%
Goodwill $7.371M $7.371M
YoY Change 0.0% 0.0%
Intangibles $9.107M $10.06M
YoY Change -30.79% -29.23%
Long-Term Investments
YoY Change
Other Assets $32.23M $32.42M
YoY Change -23.08% -25.07%
Total Long-Term Assets $1.039B $1.037B
YoY Change -4.37% -5.53%
TOTAL ASSETS
Total Short-Term Assets $9.746M $11.12M
Total Long-Term Assets $1.039B $1.037B
Total Assets $1.049B $1.048B
YoY Change -5.11% -5.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.90M $49.95M
YoY Change -11.85% 8.84%
Accrued Expenses $82.86M $83.14M
YoY Change -0.05% 1.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $126.8M $133.1M
YoY Change -5.83% 1.06%
LONG-TERM LIABILITIES
Long-Term Debt $504.9M $492.7M
YoY Change -9.98% -15.83%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $504.9M $492.7M
YoY Change -9.98% -15.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $126.8M $133.1M
Total Long-Term Liabilities $504.9M $492.7M
Total Liabilities $631.7M $625.8M
YoY Change -9.2% -12.73%
SHAREHOLDERS EQUITY
Retained Earnings $148.7M $136.7M
YoY Change 21.13% 28.11%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $417.5M $422.6M
YoY Change
Total Liabilities & Shareholders Equity $1.049B $1.048B
YoY Change -5.11% -5.88%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $22.13M $9.947M
YoY Change 37.59% 4.28%
Depreciation, Depletion And Amortization $959.0K $1.006M
YoY Change -63.12% -5.89%
Cash From Operating Activities $53.70M $48.41M
YoY Change -15.31% -18.95%
INVESTING ACTIVITIES
Capital Expenditures $1.045M $1.084M
YoY Change -30.32% -34.65%
Acquisitions
YoY Change
Other Investing Activities -$57.12M -$34.79M
YoY Change 65.57% -29.9%
Cash From Investing Activities -$58.17M -$35.87M
YoY Change 61.58% -30.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.098M -$13.26M
YoY Change -112.65% 47.93%
NET CHANGE
Cash From Operating Activities 53.70M $48.41M
Cash From Investing Activities -58.17M -$35.87M
Cash From Financing Activities 3.098M -$13.26M
Net Change In Cash -1.373M -$720.3K
YoY Change -147.36% 38.49%
FREE CASH FLOW
Cash From Operating Activities $53.70M $48.41M
Capital Expenditures $1.045M $1.084M
Free Cash Flow $52.65M $47.33M
YoY Change -14.94% -18.5%

Facts In Submission

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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification</span></div>From time to time, prior period amounts will be reclassified to conform to the current presentation. Such reclassifications have no impact on previously reported net income or shareholders' equity
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CY2024Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
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CY2024Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1277149256 usd
CY2024Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
1274819257 usd
CY2024Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1277149256 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff
20281 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
11268 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
322944 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
4275700 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
39259261 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff
0 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
43889454 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff
6706 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
24375 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
153427 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
5421080 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
45116366 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff
1088 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
50723042 usd
CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
102962811 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
125552733 usd
CY2024Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
45419007 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
43889454 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
5150999 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
38738455 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
109643363 usd
CY2024Q2 us-gaap Proceeds Accounts Receivable Previously Written Off Recovery
ProceedsAccountsReceivablePreviouslyWrittenOffRecovery
2600000 usd
CY2024Q2 wrld Uncollected Accrued Interest Reversed
UncollectedAccruedInterestReversed
6064388 usd
CY2023Q2 wrld Uncollected Accrued Interest Reversed
UncollectedAccruedInterestReversed
6298480 usd
CY2024Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
69141602 usd
CY2024Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
70746701 usd
CY2024Q2 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
2730140 usd
CY2023Q2 us-gaap Financing Receivable Nonaccrual Interest Income
FinancingReceivableNonaccrualInterestIncome
3615689 usd
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.099
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6179179 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6141171 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1088833 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1030675 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
7268012 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
7171846 usd
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
6288260 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2024Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3046251 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P7Y1M6D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.061
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
17584266 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
20369096 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16013979 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12940749 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9224712 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
26848053 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
102980855 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19844451 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
83136404 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5480205 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5772733 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5480205 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5772733 shares
CY2024Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
87613 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
118566 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5567818 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5891299 shares
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
259355 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
309371 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
268670 shares
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
1
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
66258763 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
56194780 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10063983 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
66258763 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
55189030 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11069733 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2800000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3200000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2700000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
900000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
400000 usd
CY2024Q2 wrld Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
100000 usd
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
725800 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
494727745 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2024Q2 wrld Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
0 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
494727745 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1100000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1100000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
900000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
900000 usd
CY2024Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
400000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
330800 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
13800 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.228
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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