Marine Products Corporation (MPX) Financial Statements (2024 and earlier)

Company Profile

Business Address 2801 BUFORD HIGHWAY NE, SUITE 300
ATLANTA, GA 30329
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 373 - Ship And Boat Building And Repairing (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
ASSETS
Current Assets
Receivables2,83610,94212,58411,0945,36811,590
Inventory, net of allowances, customer advances and progress billings61,61169,78461,49666,83973,01582,812
Inventory61,61169,78461,49666,83973,01582,812
Other undisclosed current assets74,79964,48968,68865,03246,61530,336
Total current assets:139,246145,215142,768142,965124,998124,738
Noncurrent Assets
Operating lease, right-of-use asset 295     
Property, plant and equipment22,45621,35621,01916,23114,96514,327
Long-term investments and receivables (11)(11)(12)  
Accounts and financing receivable, after allowance for credit loss (11)(11)(12)  
Intangible assets, net (including goodwill)3,7733,7733,7733,7733,7733,773
Goodwill3,3083,3083,3083,3083,3083,308
Intangible assets, net (excluding goodwill)465465465465465465
Deferred income tax assets8,5907,8337,9196,9356,0275,520
Other noncurrent assets4,35818,55614,79814,27313,95213,319
Other undisclosed noncurrent assets15,084111112  
Total noncurrent assets:54,55651,51847,50941,21238,71736,939
TOTAL ASSETS:193,802196,733190,277184,177163,715161,677
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities22,56728,28428,41734,22723,59031,985
Taxes payable790
Employee-related liabilities4,845
Accounts payable6,07112,0668,56512,5308,25014,641
Accrued liabilities16,49616,21819,85221,69715,34011,709
Deferred revenue      2,086
Other undisclosed current liabilities      (3,355)
Total current liabilities:22,56728,28428,41734,22723,59030,716
Noncurrent Liabilities
Liabilities, other than long-term debt19,64718,33618,16317,08415,74414,768
Liability, pension and other postretirement and postemployment benefits17,99816,71416,51415,53514,44013,706
Other liabilities1,6491,6221,6491,5491,3041,062
Total noncurrent liabilities:19,64718,33618,16317,08415,74414,768
Total liabilities:42,21446,62046,58051,31139,33445,484
Equity
Equity, attributable to parent151,588150,113143,697132,866124,381116,193
Common stock3,4473,4473,4473,4443,4223,422
Accumulated other comprehensive loss  (12)(12)(109)(1,995)(2,509)
Retained earnings148,141146,678140,262129,531122,954115,280
Total equity:151,588150,113143,697132,866124,381116,193
TOTAL LIABILITIES AND EQUITY:193,802196,733190,277184,177163,715161,677

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

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Revenues70,87177,786116,158118,914108,509100,061
Cost of revenue
(Cost of Goods and Services Sold)
(57,408)(58,548)(87,502)(89,892)(81,189)(75,056)
Gross profit:13,46319,23828,65629,02227,32025,005
Operating expenses(7,644)(6,827)(12,173)(14,533)(12,472)(10,326)
Operating income:5,81912,41116,48314,48914,84814,679
Nonoperating income
(Investment Income, Nonoperating)
79486072348328676
Income from continuing operations before income taxes:6,61313,27117,20614,97215,13414,755
Income tax expense(1,191)(2,868)(2,885)(3,423)(3,277)(3,283)
Income from continuing operations:5,42210,40314,32111,54911,85711,472
Income before gain (loss) on sale of properties:11,472
Net income attributable to parent:5,42210,40314,32111,54911,85711,472
Other undisclosed net loss available to common stockholders, basic(133)(249)(343)(274)(256)(254)
Net income available to common stockholders, diluted:5,28910,15413,97811,27511,60111,218

Comprehensive Income ($ in thousands)

3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
Net income:5,42210,40314,32111,54911,85711,472
Comprehensive income:5,42210,40314,32111,54911,85711,472
Other undisclosed comprehensive income, net of tax, attributable to parent 12 971,88651423
Comprehensive income, net of tax, attributable to parent:5,43410,40314,41813,43512,37111,495

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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