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10-Q Filing

MARINE PRODUCTS CORP CIK: 1129155 Q3 2021
Filing Information
Form Type 10-Q
Accession Number 0001104659-21-131749
Period End Date 20210930
Filing Date 20211029
Fiscal Year 2021
Fiscal Period Q3
XBRL Instance mpx-20210930x10q_htm.xml
Balance Sheet 57 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $12.00K USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $16.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $9.63M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.80M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $31.57M USD Point-in-time
Accumulated depreciation, property plant and equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $30.07M USD Point-in-time
Accumulated depreciation, property plant and equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $31.41M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $29.01M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $12 in 2021 and $16 in 2020 AccountsReceivableNetCurrent $10.23M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $12 in 2021 and $16 in 2020 AccountsReceivableNetCurrent $4.71M USD Point-in-time
Inventories InventoryNet $42.31M USD Point-in-time
Inventories InventoryNet $76.75M USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $482.00K USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $1.95M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $2.49M USD Point-in-time
Total current assets AssetsCurrent $99.58M USD Point-in-time
Total current assets AssetsCurrent $80.54M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $31,408 in 2021 and $30,066 in 2020 PropertyPlantAndEquipmentNet $14.31M USD Point-in-time
Property, plant and equipment, net of accumulated depreciation of $31,408 in 2021 and $30,066 in 2020 PropertyPlantAndEquipmentNet $14.94M USD Point-in-time
Goodwill Goodwill $3.31M USD Point-in-time
Goodwill Goodwill $3.31M USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $465.00K USD Point-in-time
Other intangibles, net IntangibleAssetsNetExcludingGoodwill $465.00K USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $4.08M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $4.43M USD Point-in-time
Other assets OtherAssetsNoncurrent $17.69M USD Point-in-time
Other assets OtherAssetsNoncurrent $16.10M USD Point-in-time
Total assets Assets $139.79M USD Point-in-time
Total assets Assets $119.42M USD Point-in-time
Accounts payable AccountsPayableCurrent $6.08M USD Point-in-time
Accounts payable AccountsPayableCurrent $14.17M USD Point-in-time
Accrued expenses and other liabilities AccruedExpensesAndOtherCurrentLiabilities $15.58M USD Point-in-time
Accrued expenses and other liabilities AccruedExpensesAndOtherCurrentLiabilities $15.65M USD Point-in-time
Total current liabilities LiabilitiesCurrent $21.66M USD Point-in-time
Total current liabilities LiabilitiesCurrent $29.82M USD Point-in-time
Pension liabilities DefinedBenefitPensionPlanLiabilitiesNoncurrent $12.52M USD Point-in-time
Pension liabilities DefinedBenefitPensionPlanLiabilitiesNoncurrent $15.07M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $674.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $717.00K USD Point-in-time
Total liabilities Liabilities $34.90M USD Point-in-time
Total liabilities Liabilities $45.56M USD Point-in-time
Common stock CommonStockValue $3.39M USD Point-in-time
Common stock CommonStockValue $3.40M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $83.08M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $92.74M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.95M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.91M USD Point-in-time
Total stockholders' equity StockholdersEquity $94.23M USD Point-in-time
Total stockholders' equity StockholdersEquity $80.47M USD Point-in-time
Total stockholders' equity StockholdersEquity $84.52M USD Point-in-time
Total stockholders' equity StockholdersEquity $91.04M USD Point-in-time
Total stockholders' equity StockholdersEquity $88.73M USD Point-in-time
Total stockholders' equity StockholdersEquity $76.57M USD Point-in-time
Total stockholders' equity StockholdersEquity $77.21M USD Point-in-time
Total stockholders' equity StockholdersEquity $76.99M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $119.42M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $139.79M USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $221.48M USD 3 Qtrs
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $68.78M USD 1 Quarter
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $168.72M USD 3 Qtrs
Net sales RevenueFromContractWithCustomerIncludingAssessedTax $75.84M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $132.54M USD 3 Qtrs
Cost of goods sold CostOfGoodsAndServicesSold $52.54M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $172.36M USD 3 Qtrs
Cost of goods sold CostOfGoodsAndServicesSold $59.80M USD 1 Quarter
Gross profit GrossProfit $16.24M USD 1 Quarter
Gross profit GrossProfit $16.04M USD 1 Quarter
Gross profit GrossProfit $36.17M USD 3 Qtrs
Gross profit GrossProfit $49.11M USD 3 Qtrs
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $7.89M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $7.70M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $23.38M USD 3 Qtrs
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $20.90M USD 3 Qtrs
Operating income OperatingIncomeLoss $15.28M USD 3 Qtrs
Operating income OperatingIncomeLoss $8.34M USD 1 Quarter
Operating income OperatingIncomeLoss $25.73M USD 3 Qtrs
Operating income OperatingIncomeLoss $8.35M USD 1 Quarter
Interest income InvestmentIncomeInterest $10.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $22.00K USD 3 Qtrs
Interest income InvestmentIncomeInterest $4.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $86.00K USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $15.36M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $25.75M USD 3 Qtrs
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.36M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $8.35M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $1.66M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $1.82M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $5.17M USD 3 Qtrs
Income tax provision IncomeTaxExpenseBenefit $2.91M USD 3 Qtrs
Net income NetIncomeLoss $4.21M USD 1 Quarter
Net income NetIncomeLoss $20.58M USD 3 Qtrs
Net income NetIncomeLoss $5.79M USD 1 Quarter
Net income NetIncomeLoss $6.54M USD 1 Quarter
Net income NetIncomeLoss $8.10M USD 1 Quarter
Net income NetIncomeLoss $6.69M USD 1 Quarter
Net income NetIncomeLoss $12.45M USD 3 Qtrs
Net income NetIncomeLoss $1.71M USD 1 Quarter
Basic EarningsPerShareBasic $0.37 USD 3 Qtrs
Basic EarningsPerShareBasic $0.20 USD 1 Quarter
Basic EarningsPerShareBasic $0.61 USD 3 Qtrs
Basic EarningsPerShareBasic $0.19 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.37 USD 3 Qtrs
Diluted EarningsPerShareDiluted $0.61 USD 3 Qtrs
Diluted EarningsPerShareDiluted $0.19 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.20 USD 1 Quarter
Dividends paid per share CommonStockDividendsPerShareCashPaid $0.28 USD 3 Qtrs
Dividends paid per share CommonStockDividendsPerShareCashPaid $0.34 USD 3 Qtrs
Dividends paid per share CommonStockDividendsPerShareCashPaid $0.12 USD 1 Quarter
Dividends paid per share CommonStockDividendsPerShareCashPaid $0.08 USD 1 Quarter
Cash Flow Statement 52 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $12.45M USD 3 Qtrs
Net income ProfitLoss $20.58M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $1.34M USD 3 Qtrs
Depreciation and amortization DepreciationDepletionAndAmortization $1.51M USD 3 Qtrs
Stock-based compensation expense ShareBasedCompensation $1.70M USD 3 Qtrs
Stock-based compensation expense ShareBasedCompensation $2.66M USD 3 Qtrs
Gain on sale of assets GainLossOnDispositionOfAssets1 $30.00K USD 3 Qtrs
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-367.00K USD 3 Qtrs
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-234.00K USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $1.91M USD 3 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $5.52M USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $34.44M USD 3 Qtrs
Inventories IncreaseDecreaseInInventories $1.34M USD 3 Qtrs
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $547.00K USD 3 Qtrs
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-173.00K USD 3 Qtrs
Income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $-701.00K USD 3 Qtrs
Income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $482.00K USD 3 Qtrs
Other non-current assets IncreaseDecreaseInOtherNoncurrentAssets $1.53M USD 3 Qtrs
Other non-current assets IncreaseDecreaseInOtherNoncurrentAssets $788.00K USD 3 Qtrs
Accounts payable IncreaseDecreaseInAccountsPayable $5.71M USD 3 Qtrs
Accounts payable IncreaseDecreaseInAccountsPayable $8.09M USD 3 Qtrs
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-316.00K USD 3 Qtrs
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $737.00K USD 3 Qtrs
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $378.00K USD 3 Qtrs
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $1.72M USD 3 Qtrs
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $1.29M USD 3 Qtrs
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $2.49M USD 3 Qtrs
Net cash (used for) provided by operating activities NetCashProvidedByUsedInOperatingActivities $22.64M USD 3 Qtrs
Net cash (used for) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-8.62M USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $720.00K USD 3 Qtrs
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $1.46M USD 3 Qtrs
Proceed from sale of assets ProceedsFromSaleOfProductiveAssets $34.00K USD 3 Qtrs
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-1.42M USD 3 Qtrs
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-720.00K USD 3 Qtrs
Payment of dividends PaymentsOfDividends $11.55M USD 3 Qtrs
Payment of dividends PaymentsOfDividends $9.49M USD 3 Qtrs
Cash paid for common stock purchased and retired PaymentsForRepurchaseOfCommonStock $1.05M USD 3 Qtrs
Cash paid for common stock purchased and retired PaymentsForRepurchaseOfCommonStock $2.52M USD 3 Qtrs
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-12.00M USD 3 Qtrs
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-12.60M USD 3 Qtrs
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $9.21M USD 3 Qtrs
Net (decrease) increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-21.94M USD 3 Qtrs
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $9.63M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $19.80M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $31.57M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $29.01M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $9.63M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $19.80M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $31.57M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $29.01M USD Point-in-time
Income tax payments, net IncomeTaxesPaidNet $6.25M USD 3 Qtrs
Income tax payments, net IncomeTaxesPaidNet $1.74M USD 3 Qtrs
Stockholders Equity 49 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $94.23M USD Point-in-time
Balance StockholdersEquity $80.47M USD Point-in-time
Balance StockholdersEquity $84.52M USD Point-in-time
Balance StockholdersEquity $91.04M USD Point-in-time
Balance StockholdersEquity $88.73M USD Point-in-time
Balance StockholdersEquity $76.57M USD Point-in-time
Balance StockholdersEquity $77.21M USD Point-in-time
Balance StockholdersEquity $76.99M USD Point-in-time
Stock issued for stock incentive plans, net StockIssuedDuringPeriodValueShareBasedCompensation $572.00K USD 1 Quarter
Stock issued for stock incentive plans, net StockIssuedDuringPeriodValueShareBasedCompensation $553.00K USD 1 Quarter
Stock issued for stock incentive plans, net StockIssuedDuringPeriodValueShareBasedCompensation $1.50M USD 1 Quarter
Stock issued for stock incentive plans, net StockIssuedDuringPeriodValueShareBasedCompensation $581.00K USD 1 Quarter
Stock issued for stock incentive plans, net StockIssuedDuringPeriodValueShareBasedCompensation $576.00K USD 1 Quarter
Stock issued for stock incentive plans, net StockIssuedDuringPeriodValueShareBasedCompensation $571.00K USD 1 Quarter
Stock purchased and retired StockRepurchasedAndRetiredDuringPeriodValue $1.43M USD 1 Quarter
Stock purchased and retired StockRepurchasedAndRetiredDuringPeriodValue $1.05M USD 1 Quarter
Stock purchased and retired StockRepurchasedAndRetiredDuringPeriodValue $1.00K USD 1 Quarter
Stock purchased and retired StockRepurchasedAndRetiredDuringPeriodValue $29.00K USD 1 Quarter
Stock purchased and retired StockRepurchasedAndRetiredDuringPeriodValue $1.05M USD 1 Quarter
Net income NetIncomeLoss $4.21M USD 1 Quarter
Net income NetIncomeLoss $20.58M USD 3 Qtrs
Net income NetIncomeLoss $5.79M USD 1 Quarter
Net income NetIncomeLoss $6.54M USD 1 Quarter
Net income NetIncomeLoss $8.10M USD 1 Quarter
Net income NetIncomeLoss $6.69M USD 1 Quarter
Net income NetIncomeLoss $12.45M USD 3 Qtrs
Net income NetIncomeLoss $1.71M USD 1 Quarter
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-19.00K USD 1 Quarter
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-19.00K USD 1 Quarter
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-157.00K USD 3 Qtrs
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-42.00K USD 3 Qtrs
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-14.00K USD 1 Quarter
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-119.00K USD 1 Quarter
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-14.00K USD 1 Quarter
Pension adjustment, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-14.00K USD 1 Quarter
Dividends paid DividendsCommonStockCash $2.72M USD 1 Quarter
Dividends paid DividendsCommonStockCash $4.07M USD 1 Quarter
Dividends paid DividendsCommonStockCash $4.08M USD 1 Quarter
Dividends paid DividendsCommonStockCash $4.08M USD 1 Quarter
Dividends paid DividendsCommonStockCash $2.70M USD 1 Quarter
Dividends paid DividendsCommonStockCash $3.40M USD 1 Quarter
Balance StockholdersEquity $94.23M USD Point-in-time
Balance StockholdersEquity $80.47M USD Point-in-time
Balance StockholdersEquity $84.52M USD Point-in-time
Balance StockholdersEquity $91.04M USD Point-in-time
Balance StockholdersEquity $88.73M USD Point-in-time
Balance StockholdersEquity $76.57M USD Point-in-time
Balance StockholdersEquity $77.21M USD Point-in-time
Balance StockholdersEquity $76.99M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $4.21M USD 1 Quarter
Net income NetIncomeLoss $20.58M USD 3 Qtrs
Net income NetIncomeLoss $5.79M USD 1 Quarter
Net income NetIncomeLoss $6.54M USD 1 Quarter
Net income NetIncomeLoss $8.10M USD 1 Quarter
Net income NetIncomeLoss $6.69M USD 1 Quarter
Net income NetIncomeLoss $12.45M USD 3 Qtrs
Net income NetIncomeLoss $1.71M USD 1 Quarter
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-19.00K USD 1 Quarter
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-19.00K USD 1 Quarter
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-157.00K USD 3 Qtrs
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-42.00K USD 3 Qtrs
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-14.00K USD 1 Quarter
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-119.00K USD 1 Quarter
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-14.00K USD 1 Quarter
Pension adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-14.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $6.70M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $12.61M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTax $20.62M USD 3 Qtrs
Comprehensive income ComprehensiveIncomeNetOfTax $6.55M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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