- Net sales were $38.5 million compared to $41.3 million.
- Product sales were $37.6 million compared to $33.8 million.
- Gross margin was 15.0% compared to 13.5%.
- Operating income was $1.4 million compared to $1.7 million.
- Net income was $0.9 million, or $0.11 per diluted share, compared with $1.0 million, or $0.13 per diluted share.
- Net sales were $122.6 million compared to $125.8 million.
- Product sales were $110.7 million compared to $113.2 million.
- Gross margin was 16.0% compared to 16.5%.
- Operating income was $7.2 million compared to $8.4 million.
- Net income was $4.7 million, or $0.61 per diluted share, compared with $5.4 million, or $0.70 per diluted share.
Financial Position at September 30, 2017:
- Cash and cash equivalents of $27.5 million.
- Total assets of $138.7 million.
- Total debt of $7.5 million.
- Stockholders' equity of $102.0 million.
|CORE MOLDING TECHNOLOGIES, INC.|
|Condensed Consolidated Statements of Income (Unaudited)|
|(in thousands, expect per share data)|
|Three Months Ended||Nine Months Ended|
|September 30,||September 30,|
|Total net sales||38,494||41,336||122,608||125,810|
|Total cost of sales||32,730||35,755||103,001||105,043|
|Total selling, general and administrative expense||4,358||3,924||12,450||12,361|
|Income before income taxes||1,344||1,590||6,966||8,173|
|Income tax expense||489||561||2,262||2,794|
|Net income per common share:|
|Weighted average shares outstanding:|
|Condensed Consolidated Balance Sheets|
|As of9/30/2017(Unaudited)||As of12/31/2016|
|Accounts Receivable, net||24,293||19,551|
|Other Current Assets||2,177||1,140|
|Property, Plant and Equipment, net||68,111||70,601|
|Goodwill and Intangibles, net||2,928||2,966|
|Other Long-term Assets||862||-|
|Liabilities and Stockholders' Equity:|
|Current Portion of Long-term Debt||$||3,000||$||3,000|
|Compensation and Related Benefits||4,847||5,004|
|Tooling in Progress||1,184||1,084|
|Accrued Liabilities and Other||1,873||2,658|
|Deferred Tax Liability||992||992|
|Post Retirement Benefits Liability||8,638||8,667|
|Total Liabilities and Stockholders' Equity||$||138,705||$||133,455|