TESSCO Technologies Incorporated (TESS) Financial Statements (2024 and earlier)

Company Profile

Business Address 11126 MCCORMICK ROAD
HUNT VALLEY, MD 21031
State of Incorp. DE
Fiscal Year End March 31
Industry (SIC) 5065 - Electronic Parts and Equipment, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

3/31/2023
12/31/2022
MRQ
3/31/2022
3/31/2021
3/31/2020
3/31/2019
3/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,2721,7541,110503019
Cash and cash equivalents3,2721,7541,110503019
Receivables83,23979,84080,47882,86893,96687,862
Inventory, net of allowances, customer advances and progress billings70,85655,94553,06069,14871,84572,323
Inventory70,85655,94553,06069,14871,84572,323
Disposal group, including discontinued operation   1,197   
Other undisclosed current assets4,6612,9623,98111,7085,5634,489
Total current assets:162,027140,501139,826163,774171,405164,694
Noncurrent Assets
Operating lease, right-of-use asset7,0138,91011,28613,950
Nontrade receivables  3,119    
Property, plant and equipment10,55510,83612,57213,43415,00413,663
Intangible assets, net (including goodwill)40,73230,59619,13711,15711,67811,678
Goodwill     11,67811,678
Intangible assets, net (excluding goodwill)40,73230,59619,13711,157  
Deferred income tax assets    3,033
Other noncurrent assets9,4118,5526,2583,3618,3558,679
Other undisclosed noncurrent assets     55711
Total noncurrent assets:67,71062,01349,25244,93535,09134,730
TOTAL ASSETS:229,737202,513189,078208,709206,496199,424
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities73,91972,58367,44481,02680,40578,983
Taxes payable1,1888044517492,339
Employee-related liabilities5,2316,2804,2585,9308,291
Accounts payable66,25565,25559,41675,51373,06067,041
Accrued liabilities7,6659109458046671,312
Deferred revenue  1,9673,440
Debt347340 28,14314,37827
Deferred revenue and credits58
Other undisclosed current liabilities4,1753,1122,574 1,98610,835
Total current liabilities:78,44176,03671,985112,60996,76989,904
Noncurrent Liabilities
Long-term debt and lease obligation67,44549,65639,50711,481 2
Long-term debt, excluding current maturities67,44543,07030,583  2
Liabilities, other than long-term debt5,597899836916 1,465
Deferred income tax liabilities14614627 
Other liabilities706753809916 1,465
Operating lease, liability4,7466,5868,92411,481
Other undisclosed noncurrent liabilities     940 
Total noncurrent liabilities:73,04350,55540,34312,3979401,468
Total liabilities:151,484126,590112,328125,00697,70991,372
Equity
Equity, attributable to parent78,25375,92376,75083,703108,787108,052
Common stock10810610410110099
Treasury stock, value(287)(129)(63)(58,496)(57,614)(57,503)
Additional paid in capital70,36269,16667,22865,31962,66660,612
Retained earnings8,0716,7809,48176,779103,635104,844
Total equity:78,25375,92376,75083,703108,787108,052
TOTAL LIABILITIES AND EQUITY:229,737202,513189,078208,709206,496199,424

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

3/31/2023
12/31/2022
TTM
3/31/2022
3/31/2021
3/31/2020
3/31/2019
3/31/2018
Other undisclosed loss before gain (loss) on sale of properties(3,021)   
Revenues480,491417,545373,341540,298606,814580,275
Revenue, net580,275
Cost of revenue
(Cost of Goods and Services Sold)
(383,104)(339,508)(305,625)(448,475) (460,046)
Other undisclosed gross profit     (485,455) 
Gross profit:97,38778,03767,71691,823121,359120,228
Operating expenses(83,637)(81,543)(85,507)(119,980)(113,214)(112,327)
Operating income (loss):13,750(3,507)(17,792)(28,157)8,1457,902
Interest and debt expense   (556)   
Income (loss) from continuing operations before equity method investments, income taxes:13,750(3,507)(18,348)(28,157)8,1457,902
Other undisclosed income (loss) from continuing operations before income taxes(1,668)(877)130(1,116)(854)(429)
Income (loss) from continuing operations before income taxes:12,082(4,383)(18,218)(29,274)7,2917,473
Income tax expense (benefit)(797)1,0713,8457,705(1,745)(2,277)
Income (loss) from continuing operations:11,285(3,312)(14,373)(21,569)5,5465,195
Income (loss) before gain (loss) on sale of properties:7,839(3,312)(11,353)(21,569)5,5465,195
Income from discontinued operations   3,021   
Other undisclosed net income (loss) (3,832)6112,610   
Net income (loss):4,432(2,701)(8,743)(21,569)5,5465,195
Other undisclosed net loss attributable to parent (30)     
Net income (loss) attributable to parent:4,402(2,701)(8,743)(21,569)5,5465,195
Other undisclosed net income (loss) available to common stockholders, basic   (5,630) 0(0)
Net income (loss) available to common stockholders, diluted:4,402(2,701)(14,373)(21,569)5,5465,195

Comprehensive Income ($ in thousands)

3/31/2023
12/31/2022
TTM
3/31/2022
3/31/2021
3/31/2020
3/31/2019
3/31/2018
Net income (loss):4,432(2,701)(8,743)(21,569)5,5465,195
Comprehensive income (loss), net of tax, attributable to parent:4,432(2,701)(8,743)(21,569)5,5465,195

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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