10-Q Filing

MASTERCRAFT BOAT HOLDINGS, INC. CIK: 1638290 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-009082`
Period End Date	20180930
Filing Date	20181109
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	mcft-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 32 Cash Flow Statement 58 Stockholders Equity 7

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$117.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$51.00K	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
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.09M	USD	Point-in-time
Accounts receivable net of allowances of $117 and $51, respectively	`AccountsReceivableNetCurrent`	$5.51M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	18.68M	shares	Point-in-time
Accounts receivable net of allowances of $117 and $51, respectively	`AccountsReceivableNetCurrent`	$9.31M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	18.72M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$676.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	18.72M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	18.68M	shares	Point-in-time
Inventories, net	`InventoryNet`	$20.47M	USD	Point-in-time
Inventories, net	`InventoryNet`	$21.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.59M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$37.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.40M	USD	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$23.93M	USD	Point-in-time
Property, plant and equipment net	`PropertyPlantAndEquipmentNet`	$22.27M	USD	Point-in-time
Intangible assets net	`IntangibleAssetsNetExcludingGoodwill`	$51.05M	USD	Point-in-time
Intangible assets net	`IntangibleAssetsNetExcludingGoodwill`	$50.52M	USD	Point-in-time
Goodwill	`Goodwill`	$65.79M	USD	Point-in-time
Goodwill	`Goodwill`	$65.79M	USD	Point-in-time
Deferred debt issuance costs net	`DeferredFinanceCostsNoncurrentNet`	$383.00K	USD	Point-in-time
Deferred debt issuance costs net	`DeferredFinanceCostsNoncurrentNet`	$361.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$253.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$252.00K	USD	Point-in-time
Total assets	`Assets`	$182.25M	USD	Point-in-time
Total assets	`Assets`	$176.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.61M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$705.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$27.87M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$29.55M	USD	Point-in-time
Current portion of long term debt, net of unamortized debt issuance costs	`LongTermDebtCurrent`	$5.07M	USD	Point-in-time
Current portion of long term debt, net of unamortized debt issuance costs	`LongTermDebtCurrent`	$5.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$53.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.91M	USD	Point-in-time
Long term debt, net of unamortized debt issuance costs	`LongTermDebtNoncurrent`	$70.09M	USD	Point-in-time
Long term debt, net of unamortized debt issuance costs	`LongTermDebtNoncurrent`	$68.08M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.43M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$205.00K	USD	Point-in-time
Unrecognized tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$2.10M	USD	Point-in-time
Unrecognized tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$1.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$124.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$124.07M	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, 18,721,420 shares at September 30, 2018 and 18,682,338 shares at June 30, 2018	`CommonStockValue`	$187.00K	USD	Point-in-time
Common stock, $.01 par value per share authorized, 100,000,000 shares; issued and outstanding, 18,721,420 shares at September 30, 2018 and 18,682,338 shares at June 30, 2018	`CommonStockValue`	$187.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$114.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$114.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-56.34M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.72M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$58.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$52.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$176.92M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$182.25M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$93.64M	USD	1 Quarter
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$65.05M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$46.89M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$70.44M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$18.16M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$23.20M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$2.74M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$4.29M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.33M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$530.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$27.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.59M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.10M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$11.06M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$11.61M	USD	1 Quarter
Interest expense	`InterestExpense`	$920.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$491.00K	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.69M	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.57M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$2.23M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$3.53M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$7.05M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$8.46M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	1 Quarter
Basic earnings per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.62M	shares	1 Quarter
Basic earnings per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.65M	shares	1 Quarter
Diluted earnings per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.77M	shares	1 Quarter
Diluted earnings per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.69M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$7.05M	USD	1 Quarter
Net income	`ProfitLoss`	$8.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$732.00K	USD	1 Quarter
Inventory obsolescence reserve	`InventoryWriteDown`	$13.00K	USD	1 Quarter
Inventory obsolescence reserve	`InventoryWriteDown`	$130.00K	USD	1 Quarter
Amortization of deferred issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$87.00K	USD	1 Quarter
Amortization of deferred issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$127.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$384.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$264.00K	USD	1 Quarter
Change in interest rate cap fair value	`UnrealizedGainLossOnDerivatives`	$2.00K	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`	$-284.00K	USD	1 Quarter
Net provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$30.00K	USD	1 Quarter
Net provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$66.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$3.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.86M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.27M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$23.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$186.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$290.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.38M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.00M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.67M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilitiesCurrent`	$-2.34M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilitiesCurrent`	$-1.04M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.37M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.17M	USD	1 Quarter
Disposal of equipment	`PaymentsForProceedsFromProductiveAssets`	$-3.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.42M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$505.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.42M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-505.00K	USD	1 Quarter
Cash paid for withholding taxes on vested stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$105.00K	USD	1 Quarter
Cash paid for withholding taxes on vested stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$43.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$1.66M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$976.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.02M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.76M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.82M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$8.64M	USD	1 Quarter
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.91M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.09M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.91M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.09M	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$373.00K	USD	1 Quarter
Cash payments for interest	`InterestPaidNet`	$1.02M	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$1.83M	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$3.77M	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$58.17M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$52.52M	USD	Point-in-time
Equity-based compensation activity	`StockIssuedDuringPeriodValueShareBasedCompensation`	$279.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.46M	USD	1 Quarter
Balance, ending	`StockholdersEquity`	$58.17M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$52.52M	USD	Point-in-time

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