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 | 3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | 3/31/2018 | 3/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,754 | 1,110 | 50 | 30 | 19 | 8,540 | |||
| Cash and cash equivalents | 1,754 | 1,110 | 50 | 30 | 19 | 8,540 | |||
| Receivables | 79,840 | 80,478 | 82,868 | 93,966 | 87,862 | 64,779 | |||
| Inventory, net of allowances, customer advances and progress billings | 55,945 | 53,060 | 69,148 | 71,845 | 72,323 | 63,984 | |||
| Inventory | 55,945 | 53,060 | 69,148 | 71,845 | 72,323 | 63,984 | |||
| Disposal group, including discontinued operation | 1,197 | ||||||||
| Other undisclosed current assets | 2,962 | 3,981 | 11,708 | 5,563 | 4,489 | 3,864 | |||
| Total current assets: | 140,501 | 139,826 | 163,774 | 171,405 | 164,694 | 141,167 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 8,910 | 11,286 | 13,950 | ✕ | ✕ | ✕ | |||
| Nontrade receivables | 3,119 | ||||||||
| Property, plant and equipment | 10,836 | 12,572 | 13,434 | 15,004 | 13,663 | 18,089 | |||
| Intangible assets, net (including goodwill) | 30,596 | 19,137 | 11,157 | 11,678 | 11,678 | 11,678 | |||
| Goodwill | 11,678 | 11,678 | 11,678 | ||||||
| Intangible assets, net (excluding goodwill) | 30,596 | 19,137 | 11,157 | ||||||
| Deferred income tax assets | 3,033 | ✕ | ✕ | ✕ | |||||
| Other noncurrent assets | 8,552 | 6,258 | 3,361 | 8,355 | 8,679 | 3,046 | |||
| Other undisclosed noncurrent assets | 55 | 711 | |||||||
| Total noncurrent assets: | 62,013 | 49,252 | 44,935 | 35,091 | 34,730 | 32,813 | |||
| TOTAL ASSETS: | 202,513 | 189,078 | 208,709 | 206,496 | 199,424 | 173,981 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 72,583 | 67,444 | 81,026 | 80,405 | 78,983 | 63,311 | |||
| Taxes payable | ✕ | 1,188 | 804 | 451 | 749 | 2,339 | 1,365 | ||
| Employee-related liabilities | ✕ | 5,231 | 6,280 | 4,258 | 5,930 | 8,291 | 6,772 | ||
| Accounts payable | 65,255 | 59,416 | 75,513 | 73,060 | 67,041 | 53,581 | |||
| Accrued liabilities | 910 | 945 | 804 | 667 | 1,312 | 1,593 | |||
| Deferred revenue | 1,967 | 3,440 | ✕ | ✕ | ✕ | ||||
| Debt | 340 | 28,143 | 14,378 | 27 | 27 | ||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | 58 | 635 | ||
| Other undisclosed current liabilities | 3,112 | 2,574 | 1,986 | 10,835 | |||||
| Total current liabilities: | 76,036 | 71,985 | 112,609 | 96,769 | 89,904 | 63,973 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 49,656 | 39,507 | 11,481 | 2 | 30 | ||||
| Long-term debt, excluding current maturities | 43,070 | 30,583 | 2 | 30 | |||||
| Liabilities, other than long-term debt | 899 | 836 | 916 | 1,465 | 1,575 | ||||
| Deferred income tax liabilities | 146 | 27 | ✕ | ✕ | ✕ | ||||
| Other liabilities | 753 | 809 | 916 | 1,465 | 1,575 | ||||
| Operating lease, liability | 6,586 | 8,924 | 11,481 | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 940 | 387 | |||||||
| Total noncurrent liabilities: | 50,555 | 40,343 | 12,397 | 940 | 1,468 | 1,991 | |||
| Total liabilities: | 126,590 | 112,328 | 125,006 | 97,709 | 91,372 | 65,964 | |||
| Equity | |||||||||
| Equity, attributable to parent | 75,923 | 76,750 | 83,703 | 108,787 | 108,052 | 108,016 | |||
| Common stock | 106 | 104 | 101 | 100 | 99 | 98 | |||
| Treasury stock, value | (129) | (63) | (58,496) | (57,614) | (57,503) | (57,438) | |||
| Additional paid in capital | 69,166 | 67,228 | 65,319 | 62,666 | 60,612 | 59,006 | |||
| Retained earnings | 6,780 | 9,481 | 76,779 | 103,635 | 104,844 | 106,350 | |||
| Total equity: | 75,923 | 76,750 | 83,703 | 108,787 | 108,052 | 108,016 | |||
| TOTAL LIABILITIES AND EQUITY: | 202,513 | 189,078 | 208,709 | 206,496 | 199,424 | 173,981 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2023 | 3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | 3/31/2018 | 3/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 417,545 | 373,341 | 540,298 | 606,814 | 580,275 | 533,295 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | 580,275 | 533,295 | |
| Cost of revenue (Cost of Goods and Services Sold) | (339,508) | (305,625) | (448,475) | (460,046) | (421,527) | |||
| Other undisclosed gross profit | (485,455) | |||||||
| Gross profit: | 78,037 | 67,716 | 91,823 | 121,359 | 120,228 | 111,768 | ||
| Operating expenses | (81,543) | (85,507) | (119,980) | (113,214) | (112,327) | (109,223) | ||
| Operating income (loss): | (3,507) | (17,792) | (28,157) | 8,145 | 7,902 | 2,545 | ||
| Interest and debt expense | (556) | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (3,507) | (18,348) | (28,157) | 8,145 | 7,902 | 2,545 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (877) | 130 | (1,116) | (854) | (429) | (59) | ||
| Income (loss) from continuing operations before income taxes: | (4,383) | (18,218) | (29,274) | 7,291 | 7,473 | 2,486 | ||
| Income tax expense (benefit) | 1,071 | 3,845 | 7,705 | (1,745) | (2,277) | (1,041) | ||
| Income (loss) from continuing operations: | (3,312) | (14,373) | (21,569) | 5,546 | 5,195 | 1,445 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (3,312) | (11,353) | (21,569) | 5,546 | 5,195 | 1,445 | |
| Income from discontinued operations | 3,021 | |||||||
| Other undisclosed net income | 611 | 2,610 | ||||||
| Net income (loss) attributable to parent: | (2,701) | (8,743) | (21,569) | 5,546 | 5,195 | 1,445 | ||
| Other undisclosed net income (loss) available to common stockholders, basic | (5,630) | 0 | (0) | (0) | ||||
| Net income (loss) available to common stockholders, diluted: | (2,701) | (14,373) | (21,569) | 5,546 | 5,195 | 1,445 | ||
Comprehensive Income ($ in thousands)
| 3/31/2023 | 3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | 3/31/2018 | 3/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (2,701) | (8,743) | (21,569) | 5,546 | 5,195 | 1,445 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (2,701) | (8,743) | (21,569) | 5,546 | 5,195 | 1,445 | ||
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.