LIFECORE BIOMEDICAL, INC. DE (LFCR) Financial Statements (2024 and earlier)

Company Profile

Business Address 3515 LYMAN BOULEVARD
CHASKA, MN 55318
State of Incorp. DE
Fiscal Year End May 31
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

5/31/2023
5/31/2022
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,6431,2953601,0802,8995,409
Cash and cash equivalents1,6431,2953601,0802,8995,409
Receivables48,17270,01376,20669,56553,87747,083
Inventory, net of allowances, customer advances and progress billings66,84569,66366,31154,13231,81925,290
Inventory66,84569,66366,31154,13231,81925,290
Disposal group, including discontinued operation     518 
Other undisclosed current assets7,0527,35014,2308,2647,9503,498
Total current assets:123,712148,321157,107133,04197,06381,280
Noncurrent Assets
Operating lease, right-of-use asset8,58020,82725,321
Property, plant and equipment118,531179,559192,338200,027159,624133,220
Intangible assets, net (including goodwill), including:10,100102,75684,419151,91792,38093,618
Goodwill13,88169,38669,38676,74254,51054,779
Intangible assets, net (excluding goodwill)9,77533,37015,03375,17537,87038,839
Other undisclosed intangible assets, net (including goodwill) (13,556)     
Other noncurrent assets3,0023,6112,1562,9345,1642,918
Other undisclosed noncurrent assets13,88147,85079,97231,17250,47247,572
Total noncurrent assets:154,094354,603384,206386,050307,640277,328
TOTAL ASSETS:277,806502,924541,313519,091404,703358,608
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities32,68767,86970,65974,73653,35243,204
Employee-related liabilities 12,3049,03410,6879,9788,211
Accounts payable15,80247,56951,64753,97334,66825,868
Accrued liabilities16,8857,9969,97810,0768,7069,125
Deferred revenue9191,130352
Debt101,46129,12111,6799,8935,0254,940
Disposal group, including discontinued operation    65458 
Other liabilities    1,7385,280 
Deferred revenue and credits 310
Contract with customer, liability499
Other undisclosed current liabilities41,7433,76881,69850,16024,2603,000
Total current liabilities:176,810101,888164,388137,09188,37551,454
Noncurrent Liabilities
Long-term debt and lease obligation12188,513127,74190,72541,00146,030
Long-term debt, excluding current maturities 164,902101,36387,19337,36042,299
Capital lease obligations3,5323,6413,731
Finance lease, liability123,3063,436
Liabilities, other than long-term debt10,2879,73918,14019,39317,48524,581
Deferred revenue   
Deferred tax liabilities, net19,39317,48524,581
Deferred income tax liabilities1266,14013,588
Other liabilities1903,5994,552   
Operating lease, liability9,97120,30522,942
Derivative instruments and hedges, liabilities      
Other undisclosed noncurrent liabilities   1,7385,2808,391
Total noncurrent liabilities:10,299198,252145,881111,85663,76679,002
Total liabilities:187,109300,140310,269248,947152,141130,456
Temporary equity, carrying amount      
Equity
Equity, attributable to parent90,697202,784231,044270,144252,562226,609
Common stock302929292827
Additional paid in capital167,352165,533162,578160,341142,087141,680
Accumulated other comprehensive income (loss) (586)(1,358)(2,808)641,148432
Retained earnings (accumulated deficit)(76,099)38,58071,245109,710109,29984,470
Equity, attributable to noncontrolling interest      1,543
Total equity:90,697202,784231,044270,144252,562228,152
TOTAL LIABILITIES AND EQUITY:277,806502,924541,313519,091404,703358,608

Income Statement (P&L) ($ in thousands)

5/31/2023
5/31/2022
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
Revenues185,786544,161590,366557,559524,227532,257
Revenue, net 532,257
Cost of revenue
(Cost of Goods and Services Sold)
(135,416)(462,687)(515,378)(476,556)(445,889)(449,071)
Gross profit:50,37081,47474,98881,00378,33883,186
Operating expenses(109,018)(94,970)(113,525)(75,528)(64,751)(67,681)
Operating income (loss):(58,648)(13,496)(38,537)5,47513,58715,505
Nonoperating income (expense)722(10,516)(3,167)3,3954,7612,566
Investment income, nonoperating811,1731,2281,7951,8611,666
Other nonoperating income (expense)641(11,689)(4,395)1,6002,900900
Interest and debt expense(17,357)(1,110)(358)  (1,233)
Income (loss) from continuing operations before equity method investments, income taxes:(75,283)(25,122)(42,062)8,87018,34816,838
Other undisclosed income (loss) from continuing operations before income taxes5,814(15,344)(9,245)(5,230)(1,950)(1,826)
Income (loss) from continuing operations before income taxes:(69,469)(40,466)(51,307)3,64016,39815,012
Income tax expense (benefit)5,9457,80113,116(1,518)9,363(4,335)
Income (loss) from continuing operations:(63,524)(32,665)(38,191)2,12225,76110,677
Income (loss) before gain (loss) on sale of properties:(32,665)(38,191)41124,92310,677
Loss from discontinued operations(51,155)  (1,711)(838) 
Net income (loss):(114,679)(32,665)(38,191)41124,92310,677
Net loss attributable to noncontrolling interest     (94)(87)
Net income (loss) available to common stockholders, diluted:(114,679)(32,665)(38,191)41124,82910,590

Comprehensive Income ($ in thousands)

5/31/2023
5/31/2022
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
Net income (loss):(114,679)(32,665)(38,191)41124,92310,677
Other comprehensive income (loss)4451,450(2,872)(1,084)716432
Other undisclosed comprehensive loss     (94)(87)
Comprehensive income (loss):(114,234)(31,215)(41,063)(673)25,54511,022
Comprehensive loss, net of tax, attributable to noncontrolling interest     (94)(87)
Other undisclosed comprehensive income, net of tax, attributable to parent327     
Comprehensive income (loss), net of tax, attributable to parent:(113,907)(31,215)(41,063)(673)25,45110,935

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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