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Income Statement

Income Statement

  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Restated) Year Ending Dec 2020 (Restated) Year Ending Dec 2019 (Update)
Net Sales 666.50 658.21 546.19 717.95
Revenue 666.50 658.21 546.19 717.95
Total Revenue 666.50 658.21 546.19 717.95
Cost of Revenue 444.92 466.46 388.06 362.77
Cost of Revenue, Total 444.92 466.46 388.06 362.77
Gross Profit 221.58 191.75 158.13 355.17
Selling/General/Administrative Expense 175.47 151.86 131.64 138.73
Labor & Related Expense 14.30 12.63 2.57 11.50
Advertising Expense 0.90 2.00 1.60 54.50
Selling/General/Administrative Expenses, Total 190.67 166.50 135.82 204.73
Research & Development 8.70 8.19 5.74 30.93
Depreciation 11.88 8.99 6.82 5.48
Amortization of Intangibles, Operating 25.85 28.32 29.75 37.36
Depreciation/Amortization 37.73 37.31 36.57 42.84
Restructuring Charge -- -- -- 0.00
Impairment-Assets Held for Use 0.00 0.00 270.63 50.90
Impairment-Assets Held for Sale -- -- -- --
Other Unusual Expense (Income) -4.19 32.80 31.09 22.51
Unusual Expense (Income) -4.19 32.80 301.71 73.41
Total Operating Expense 677.83 711.26 867.90 714.68
Operating Income -11.34 -53.04 -321.71 3.27
Interest Expense - Non-Operating -0.22 -0.01 -0.21 -20.06
Interest Expense, Net Non-Operating -0.22 -0.01 -0.21 -20.06
Interest Income, Non-Operating -- -- -- 0.45
Investment Income, Non-Operating -- -- -- --
Interest/Investment Income, Non-Operating -- -- -- 0.45
Interest Income (Expense), Net Non-Operating -0.26 -0.42 0.16 -0.33
Interest Income (Expense), Net-Non-Operating, Total -0.48 -0.42 -0.05 -19.94
Other Non-Operating Income (Expense) -- -- -4.62 -0.23
Other, Net -- -- -4.62 -0.23
Net Income Before Taxes -11.81 -53.46 -326.38 -16.91
Income Tax – Total -14.93 -9.96 41.67 -65.05
Income After Tax 3.12 -43.51 -368.05 48.15
Minority Interest -- -- -- 0.00
Net Income Before Extraordinary Items 3.12 -43.51 -368.05 48.15
Discontinued Operations 524.73 52.00 25.96 0.00
Extraordinary Item -- -- -- --
Tax on Extraordinary Items -107.60 -0.74 -0.67 --
Total Extraordinary Items 417.13 51.26 25.29 0.00
Net Income 420.25 7.76 -342.76 48.15
Income Available to Common Excluding Extraordinary Items 3.12 -43.51 -368.05 48.15
Income Available to Common Stocks Including Extraordinary Items 420.25 7.76 -342.76 48.15
Basic Weighted Average Shares 47.99 48.58 47.98 48.26
Basic EPS Excluding Extraordinary Items 0.07 -0.90 -7.67 1.00
Basic EPS Including Extraordinary Items 8.76 0.16 -7.14 1.00
Diluted Net Income 420.25 7.76 -342.76 48.15
Diluted Weighted Average Shares 49.18 48.58 47.98 49.28
Diluted EPS Excluding Extraordinary Items 0.06 -0.90 -7.67 0.98
Diluted EPS Including Extraordinary Items 8.54 0.16 -7.14 0.98
DPS - Common Stock Primary Issue -- -- -- --
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00
Litigation Charge, Supplemental 5.06 10.94 -- --
Non-Recurring Items, Total 5.06 10.94 -- --
Total Special Items 0.88 43.74 301.71 73.41
Normalized Income Before Taxes -10.94 -9.73 -24.67 56.50
Effect of Special Items on Income Taxes 0.31 15.31 105.60 25.69
Income Taxes Excluding Impact of Special Items -14.63 5.35 147.26 -39.36
Normalized Income After Taxes 3.69 -15.08 -171.93 95.86
Normalized Income Available to Common 3.69 -15.08 -171.93 95.86
Basic Normalized EPS 0.08 -0.31 -3.58 1.99
Diluted Normalized EPS 0.08 -0.31 -3.58 1.95
Amortization of Intangibles, Supplemental 25.85 28.32 29.75 37.36
Depreciation, Supplemental 11.88 8.99 6.82 6.85
Interest Expense, Supplemental 0.22 0.01 0.21 20.06
Rental Expense, Supplemental 3.86 4.19 6.76 6.50
Stock-Based Compensation, Supplemental 23.05 20.75 10.07 16.30
Advertising Expense, Supplemental 0.90 2.00 1.60 54.50
Minority Interest, Supplemental -- -- -- 0.00
Research & Development Expense, Supplemental 8.70 8.19 5.74 30.93
Audit-Related Fees, Supplemental 2.34 2.17 -- 2.76
Audit-Related Fees 0.79 0.00 -- 0.00
Tax Fees, Supplemental 0.00 0.02 -- 0.02
All Other Fees Paid to Auditor, Supplemental 0.00 0.00 -- 0.01
Gross Margin 33.25 29.13 28.95 49.47
Operating Margin -1.70 -8.06 -58.90 0.45
Pretax Margin -1.77 -8.12 -59.76 -2.35
Effective Tax Rate -- -- -- --
Net Profit Margin 0.47 -6.61 -67.38 6.71
Normalized EBIT -10.46 -9.31 -20.00 76.67
Normalized EBITDA 27.27 28.00 16.57 120.88
Current Tax - Domestic -- -- -- -0.73
Current Tax - Foreign -- -- -- 0.33
Current Tax - Local 1.12 -0.72 0.03 2.90
Current Tax - Total 1.12 -0.72 0.03 2.50
Deferred Tax - Domestic -15.39 -7.71 41.44 -62.58
Deferred Tax - Foreign -- -- -- -0.01
Deferred Tax - Local -0.66 -1.53 0.20 -4.97
Deferred Tax - Total -16.06 -9.24 41.64 -67.56
Income Tax - Total -14.93 -9.96 41.67 -65.05
Defined Contribution Expense - Domestic 2.90 -- -- 2.40
Total Pension Expense 2.90 -- -- 2.40

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Avantax Wealth Management® is the holding company for the group of companies providing financial services under the Avantax® name. Securities offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Investment advisory services offered through Avantax Advisory ServicesSM and Avantax Planning PartnersSM. Insurance services offered through licensed agents of Avantax Insurance AgencySM, Avantax Insurance ServicesSM, and Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019, 972-870-6000.