10-Q Filing

MASTERCRAFT BOAT HOLDINGS, INC. CIK: 1638290 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-053346`
Period End Date	20200930
Filing Date	20201112
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	mcft-10q_20201004_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 32 Cash Flow Statement 44 Stockholders Equity 12

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$247.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$330.00K	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`	$8.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.32M	USD	Point-in-time
Accounts receivable, net of allowances of $330 and $247, respectively	`AccountsReceivableNetCurrent`	$12.99M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	18.95M	shares	Point-in-time
Accounts receivable, net of allowances of $330 and $247, respectively	`AccountsReceivableNetCurrent`	$6.14M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	18.87M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.80M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$4.92M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	18.95M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	18.87M	shares	Point-in-time
Inventories, net (Note 3)	`InventoryNet`	$25.64M	USD	Point-in-time
Inventories, net (Note 3)	`InventoryNet`	$32.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.72M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$40.66M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$40.48M	USD	Point-in-time
Goodwill (Note 4)	`Goodwill`	$29.59M	USD	Point-in-time
Goodwill (Note 4)	`Goodwill`	$29.59M	USD	Point-in-time
Goodwill (Note 4)	`Goodwill`	$29.59M	USD	Point-in-time
Other intangible assets, net (Note 4)	`OtherIntangibleAssetsNet`	$63.85M	USD	Point-in-time
Other intangible assets, net (Note 4)	`OtherIntangibleAssetsNet`	$62.86M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$16.12M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$16.08M	USD	Point-in-time
Deferred debt issuance costs, net	`DeferredFinanceCostsNoncurrentNet`	$392.00K	USD	Point-in-time
Deferred debt issuance costs, net	`DeferredFinanceCostsNoncurrentNet`	$425.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$694.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$752.00K	USD	Point-in-time
Total assets	`Assets`	$207.92M	USD	Point-in-time
Total assets	`Assets`	$211.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.68M	USD	Point-in-time
Accrued expenses and other current liabilities (Note 5)	`AccruedExpensesAndOtherLiabilitiesCurrent`	$35.98M	USD	Point-in-time
Accrued expenses and other current liabilities (Note 5)	`AccruedExpensesAndOtherLiabilitiesCurrent`	$35.89M	USD	Point-in-time
Current portion of long-term debt, net of unamortized debt issuance costs (Note 6)	`LongTermDebtCurrent`	$8.93M	USD	Point-in-time
Current portion of long-term debt, net of unamortized debt issuance costs (Note 6)	`LongTermDebtCurrent`	$8.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$55.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$60.51M	USD	Point-in-time
Long-term debt, net of unamortized debt issuance costs (Note 6)	`LongTermDebtNoncurrent`	$99.67M	USD	Point-in-time
Long-term debt, net of unamortized debt issuance costs (Note 6)	`LongTermDebtNoncurrent`	$87.43M	USD	Point-in-time
Unrecognized tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$4.14M	USD	Point-in-time
Unrecognized tax positions	`LiabilityForUncertainTaxPositionsNoncurrent`	$3.68M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$221.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$277.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$152.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$159.05M	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, 18,952,338 shares at October 4, 2020 and 18,871,637 shares at June 30, 2020	`CommonStockValue`	$189.00K	USD	Point-in-time
Common stock, $.01 par value per share authorized, 100,000,000 shares; issued and outstanding, 18,952,338 shares at October 4, 2020 and 18,871,637 shares at June 30, 2020	`CommonStockValue`	$189.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$116.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$116.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.93M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$58.92M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$81.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$72.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$48.87M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$211.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$207.92M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$103.75M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$109.79M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$84.26M	USD	1 Quarter
COST OF SALES	`CostOfGoodsAndServicesSold`	$77.52M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$26.23M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$25.53M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$2.91M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$4.06M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.93M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.79M	USD	1 Quarter
Amortization of other intangible assets	`AmortizationOfIntangibleAssets`	$987.00K	USD	1 Quarter
Amortization of other intangible assets	`AmortizationOfIntangibleAssets`	$987.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.83M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$13.40M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$12.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.34M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.02M	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.38M	USD	1 Quarter
INCOME BEFORE INCOME TAX EXPENSE	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.35M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$2.82M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$2.73M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$8.62M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$9.57M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.46	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.46	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Basic earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	18.77M	shares	1 Quarter
Basic earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	18.72M	shares	1 Quarter
Diluted earnings per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.77M	shares	1 Quarter
Diluted earnings per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.87M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$8.62M	USD	1 Quarter
Net income	`ProfitLoss`	$9.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.37M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$512.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$640.00K	USD	1 Quarter
Unrecognized tax benefits	`UnrecognizedTaxExpenseBenefit`	$207.00K	USD	1 Quarter
Unrecognized tax benefits	`UnrecognizedTaxExpenseBenefit`	$458.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$159.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$142.00K	USD	1 Quarter
Changes in certain operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$6.93M	USD	1 Quarter
Changes in certain operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$6.74M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$321.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$546.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.37M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.24M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.04M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.33M	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$14.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.31M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.04M	USD	1 Quarter
Principal payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$10.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$2.35M	USD	1 Quarter
Principal payments on insurance premium financing	`PrincipalPaymentsOnInsurancePremiumFinancing`	$282.00K	USD	1 Quarter
Cash paid for withholding taxes on vested stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$154.00K	USD	1 Quarter
Cash paid for withholding taxes on vested stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$343.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-343.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.79M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-7.46M	USD	1 Quarter
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$585.00K	USD	1 Quarter
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.83M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.86M	USD	Point-in-time
CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.32M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.83M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.41M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.86M	USD	Point-in-time
CASH AND CASH EQUIVALENTS END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.32M	USD	Point-in-time
Cash payments for interest	`InterestPaidNet`	$828.00K	USD	1 Quarter
Cash payments for interest	`InterestPaidNet`	$835.00K	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$280.00K	USD	1 Quarter
Cash payments for income taxes	`IncomeTaxesPaidNet`	$3.50M	USD	1 Quarter
Capital expenditures in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$321.00K	USD	1 Quarter
Capital expenditures in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$242.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$58.92M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$81.11M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$72.32M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$48.87M	USD	Point-in-time
Share-based compensation activity	`StockIssuedDuringPeriodValueShareBasedCompensation`	$486.00K	USD	1 Quarter
Share-based compensation activity	`StockIssuedDuringPeriodValueShareBasedCompensation`	$170.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$8.62M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$9.57M	USD	1 Quarter
Balance, ending	`StockholdersEquity`	$58.92M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$81.11M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$72.32M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$48.87M	USD	Point-in-time

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