10-Q Filing

MASTERCRAFT BOAT HOLDINGS, INC. CIK: 1638290 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-008759`
Period End Date	20170930
Filing Date	20171113
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	mcft-20171001.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 7

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$112.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$82.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$212.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.04M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.68M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.00K	USD	Point-in-time
Accounts receivable net of allowances of $112 and $82, respectively	`AccountsReceivableNetCurrent`	$6.71M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	18.68M	shares	Point-in-time
Accounts receivable net of allowances of $112 and $82, respectively	`AccountsReceivableNetCurrent`	$3.50M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	18.64M	shares	Point-in-time
Inventories, net	`InventoryNet`	$11.68M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.57M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	18.64M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	18.68M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.62M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.58M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$14.83M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$14.63M	USD	Point-in-time
Intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$16.62M	USD	Point-in-time
Intangible assets - net	`IntangibleAssetsNetExcludingGoodwill`	$16.64M	USD	Point-in-time
Goodwill	`Goodwill`	$29.59M	USD	Point-in-time
Goodwill	`Goodwill`	$29.59M	USD	Point-in-time
Deferred debt issuance costs net	`DeferredFinanceCostsNoncurrentNet`	$481.00K	USD	Point-in-time
Deferred debt issuance costs net	`DeferredFinanceCostsNoncurrentNet`	$451.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$125.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$125.00K	USD	Point-in-time
Total assets	`Assets`	$83.32M	USD	Point-in-time
Total assets	`Assets`	$94.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.01M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$780.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$2.78M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$20.37M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$21.41M	USD	Point-in-time
Current portion of long term debt, net of unamortized debt issuance costs	`LongTermDebtCurrent`	$3.69M	USD	Point-in-time
Current portion of long term debt, net of unamortized debt issuance costs	`LongTermDebtCurrent`	$4.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.01M	USD	Point-in-time
Long-term debt, net of unamortized debt issuance costs ( Note 7)	`LongTermDebtNoncurrent`	$30.79M	USD	Point-in-time
Long-term debt, net of unamortized debt issuance costs ( Note 7)	`LongTermDebtNoncurrent`	$29.38M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$953.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$361.00K	USD	Point-in-time
Unrecognized tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$2.93M	USD	Point-in-time
Unrecognized tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$3.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$71.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.96M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.01 par value per share authorized, 100,000,000 shares; issued and outstanding, 18,678,441 shares at October 1, 2017 and 18,637,445 shares at June 30, 2017	`CommonStockValue`	$186.00K	USD	Point-in-time
Common stock, $.01 par value per share authorized, 100,000,000 shares; issued and outstanding, 18,678,441 shares at October 1, 2017 and 18,637,445 shares at June 30, 2017	`CommonStockValue`	$186.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$112.94M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-101.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-94.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$94.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$83.32M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$60.69M	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$65.05M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$42.88M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$46.89M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$18.16M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$17.81M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$2.74M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$2.05M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.09M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.33M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$27.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$27.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.17M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$11.06M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$11.63M	USD	1 Quarter
Interest expense	`InterestExpense`	$611.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$491.00K	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.57M	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.02M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$3.53M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$4.04M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$7.05M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$6.98M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Basic earnings per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.62M	shares	1 Quarter
Basic earnings per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.59M	shares	1 Quarter
Diluted earnings per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.69M	shares	1 Quarter
Diluted earnings per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.59M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$7.05M	USD	1 Quarter
Net income	`ProfitLoss`	$6.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$797.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$732.00K	USD	1 Quarter
Inventory obsolescence reserve	`InventoryWriteDown`	$210.00K	USD	1 Quarter
Inventory obsolescence reserve	`InventoryWriteDown`	$130.00K	USD	1 Quarter
Deferred issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$87.00K	USD	1 Quarter
Deferred issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$94.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$119.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$264.00K	USD	1 Quarter
Unrecognized tax benefits	`UnrecognizedTaxExpenseBenefit`	$288.00K	USD	1 Quarter
Unrecognized tax benefits	`UnrecognizedTaxExpenseBenefit`	$115.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-592.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.23M	USD	1 Quarter
Net provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$30.00K	USD	1 Quarter
Net provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$27.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-462.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$23.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$898.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$186.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$248.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-301.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.67M	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-860.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilitiesCurrent`	$-1.04M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilitiesCurrent`	$-684.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.04M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.17M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$505.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$455.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-505.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-455.00K	USD	1 Quarter
Payments of costs directly associated with offerings	`PaymentsOfStockIssuanceCosts`	$72.00K	USD	1 Quarter
Cash paid for withholding taxes on vested stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$43.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$1.25M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$976.00K	USD	1 Quarter
Payments on revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$3.13M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.45M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.02M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.64M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$139.00K	USD	1 Quarter
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$212.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$12.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$73.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$212.00K	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$12.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$73.00K	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$373.00K	USD	1 Quarter
Cash payments for interest	`InterestPaidNet`	$592.00K	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$1.83M	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$3.80M	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$11.76M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$19.03M	USD	Point-in-time
Equity-based compensation activity	`StockIssuedDuringPeriodValueShareBasedCompensation`	$221.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.98M	USD	1 Quarter
Balance, ending	`StockholdersEquity`	$11.76M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$19.03M	USD	Point-in-time

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