Franklin Wireless Corp. (FKWL) financial statements (2022 and earlier)

Company profile

Business Address 9707 WAPLES STREET, SUITE 150
SAN DIEGO, CA 92121
State of Incorp. NV
Fiscal Year End June 30
SIC 3661 - Telephone and Telegraph Apparatus (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments36,70245,79628,1626,44811,97614,285
Cash and cash equivalents36,70245,79628,1626,44811,97614,285
Receivables1,2472,59216,0354,1798,03211,072
Inventory, net of allowances, customer advances and progress billings1,92397611,7831,0531,6153,379
Inventory1,92397611,7831,0531,6153,379
Prepaid expense102   2828
Deposits current assets8941285179127
Other undisclosed current assets5,4395,4315,4045,4081919
Total current assets:45,50254,83661,41117,13921,75028,911
Noncurrent Assets
Operating lease, right-of-use asset5927531,140
Property, plant and equipment129152221132124220
Intangible assets, net (including goodwill)1,7491,5201,3981,3831,2701,383
Goodwill273273273273273273
Intangible assets, net (excluding goodwill)1,4761,2471,1251,1109971,109
Deferred costs  140465100360
Deferred income tax assets1,320388 
Other noncurrent assets135141283258140137
Other undisclosed noncurrent assets  7981,8181,7531,302
Total noncurrent assets:3,9252,9533,9814,0563,3873,401
TOTAL ASSETS:49,42757,78965,39221,19525,13732,312
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,18710,50542,5495,9207,86913,151
Accounts payable3,5299,71942,0835,6737,61012,863
Accrued liabilities657786466248259288
Customer advances and deposits 52
Other undisclosed current liabilities9666514351232 
Total current liabilities:5,15311,15642,9845,9218,10113,203
Noncurrent Liabilities
Long-term debt and lease obligation3154681,272   
Long-term debt, excluding current maturities  487   
Operating lease, liability315468784
Other undisclosed noncurrent liabilities(315)(468)(784)   
Total noncurrent liabilities:3154681,272   
Total liabilities:5,46811,62344,2565,9218,10113,203
Stockholders' equity
Stockholders' equity attributable to parent42,41044,68620,35414,78516,11418,108
Common stock141414141414
Treasury stock, value(3,555)(3,555)(4,513)(4,513)(4,513)(4,513)
Additional paid in capital13,18612,9727,4757,4427,4427,375
Accumulated other comprehensive loss(673)(473)(650)(635)(582)(614)
Retained earnings33,43835,72718,02812,47713,75415,846
Stockholders' equity attributable to noncontrolling interest1,5491,4797824899211,001
Total stockholders' equity:43,95946,16521,13615,27417,03519,109
TOTAL LIABILITIES AND EQUITY:49,42757,78965,39221,19525,13732,312

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

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
Revenues60,464184,11575,07236,46930,06648,566
Revenue, net 48,566
Cost of revenue(50,107)(151,651)(60,548)(30,729)(24,874)(39,347)
Cost of goods and services sold   (258)(150)(39,347)
Gross profit:10,35732,46414,5245,7395,1929,218
Operating expenses(8,817)(9,646)(7,446)(7,847)(7,884)(8,344)
Operating income (loss):1,54122,8187,078(2,107)(2,692)874
Nonoperating income495617221205332271
Other nonoperating income (expense)313(26)452(9)(20)
Interest and debt expense 487    
Income (loss) from continuing operations before equity method investments, income taxes:2,03623,9237,299(1,903)(2,360)1,146
Other undisclosed loss from continuing operations before income taxes (487)    
Income (loss) from continuing operations before income taxes:2,03623,4357,299(1,903)(2,360)1,146
Income tax expense (benefit)(966)(5,039)(1,380)429187(375)
Income (loss) before gain (loss) on sale of properties:1,07018,3965,919(1,474)(2,173)771
Other undisclosed net income954     
Net income (loss):2,02418,3965,919(1,474)(2,173)771
Net income attributable to noncontrolling interest29  5680103
Other undisclosed net income (loss) attributable to parent(420)(697)(368)142  
Net income (loss) attributable to parent:1,63317,6995,551(1,276)(2,092)874
Other undisclosed net income available to common stockholders, basic41     
Net income (loss) available to common stockholders, diluted:1,67317,6995,551(1,276)(2,092)874

Comprehensive Income ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
Net income (loss):2,02418,3965,919(1,474)(2,173)771
Other undisclosed comprehensive income (loss)(180)178(16)(53)112137
Comprehensive income (loss):1,84418,5745,903(1,527)(2,061)908
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(391)(697)(368)19880103
Other undisclosed comprehensive loss, net of tax, attributable to parent(128)   (160)(206)
Comprehensive income (loss), net of tax, attributable to parent:1,32617,8775,535(1,329)(2,141)805

Statements sources

The financial statements are based on the company's filings with the 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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