$239.9 M

HDNG Mkt cap, 25-May-2018

$79.9 M

Hardinge Revenue Q1, 2018
Hardinge Gross profit (Q1, 2018)28.1 M
Hardinge Gross profit margin (Q1, 2018), %35.2%
Hardinge Net income (Q1, 2018)1.8 M
Hardinge EBIT (Q1, 2018)2.6 M
Hardinge Cash, 31-Mar-201839.5 M

Hardinge Income Statement

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

329.5 m311.6 m315.2 m292 m317.9 m

Revenue growth, %

(5%)1%(7%)

Cost of goods sold

236.2 m224.8 m224.9 m194.5 m210.4 m

Gross profit

93.2 m86.9 m90.4 m97.5 m107.6 m

Gross profit Margin, %

28%28%29%33%34%

General and administrative expense

79.6 m80 m

Operating expense total

79.6 m80 m

EBIT

7 m(447 k)4.9 m3.4 m8.9 m

EBIT margin, %

2%0%2%1%3%

Interest expense

1.1 m737 k655 k555 k417 k

Interest income

64 k59 k156 k227 k166 k

Pre tax profit

5.9 m(1.1 m)4.4 m3.1 m8.7 m

Income tax expense

1.5 m1.2 m1.8 m1.8 m2.8 m

Net Income

9.9 m(2.1 m)2.6 m1.2 m5.8 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

82.3 m70.9 m78.9 m68.9 m69.1 m82.4 m76.8 m67.8 m70.2 m67.2 m64.6 m78.2 m79.9 m

Cost of goods sold

59.2 m51.6 m56.9 m50.2 m50.9 m58.9 m55 m45.1 m46.6 m44.1 m43.2 m51.6 m51.7 m

Gross profit

23 m19.2 m22 m18.7 m18.2 m23.5 m21.8 m22.7 m23.6 m23.2 m21.4 m26.6 m28.1 m

Gross profit Margin, %

28%27%28%27%26%28%28%34%34%34%33%34%35%

General and administrative expense

20.1 m19.1 m20.1 m20.1 m19.6 m21.1 m19.9 m20.6 m19.6 m20 m18 m20.1 m20.4 m

Operating expense total

20.1 m19.1 m20.1 m20.1 m19.6 m21.1 m19.9 m20.6 m19.6 m20 m18 m20.1 m20.4 m

EBIT

3 m(291 k)1.6 m(6.9 m)(1.4 m)2.4 m756 k(1.2 m)301 k(640 k)(1.8 m)2.2 m2.6 m

EBIT margin, %

4%0%2%(10%)(2%)3%1%(2%)0%(1%)(3%)3%3%

Interest expense

325 k243 k155 k171 k157 k154 k161 k153 k132 k142 k105 k104 k49 k

Interest income

14 k20 k12 k15 k17 k23 k40 k67 k69 k56 k40 k38 k51 k

Pre tax profit

2.6 m(514 k)1.5 m(7 m)(1.6 m)2.3 m635 k(1.3 m)238 k(726 k)(1.9 m)2.1 m2.7 m

Income tax expense

1.2 m157 k144 k544 k(149 k)666 k962 k(86 k)93 k657 k198 k(396 k)917 k

Net Income

1.5 m(453 k)1.3 m(7.6 m)(1.4 m)1.6 m(327 k)(1.2 m)145 k(1.4 m)(2 m)2.5 m1.8 m

Hardinge Balance Sheet

Annual

usdY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016FY, 2017

Cash

20.4 m30.9 m21.7 m26.9 m34.7 m16.3 m32.8 m28.3 m45 m

Accounts Receivable

57.1 m62.9 m56.9 m55.6 m61.8 m

Inventories

107 m104.5 m

Current Assets

221.5 m204.7 m211.5 m200.7 m228.7 m

PP&E

74.7 m65.9 m62 m57 m50.8 m

Goodwill

9.9 m6.7 m6.6 m6.6 m6.7 m

Total Assets

344 m311.3 m311.3 m297.6 m318.9 m

Accounts Payable

24.4 m25.6 m24.7 m24.9 m26.4 m

Short-term debt

7.9 m4 m5.7 m2.9 m

Current Liabilities

84.7 m70.3 m82.3 m72.8 m83.3 m

Long-term debt

18.8 m12.3 m6.1 m3 m

Non-Current Liabilities

55.7 m71.4 m67.9 m68.8 m56.7 m

Total Debt

5.6 m26.6 m16.2 m11.8 m5.9 m

Total Liabilities

140.4 m141.7 m150.2 m141.6 m

Common Stock

125 k128 k128 k129 k130 k

Additional Paid-in Capital

115 m120.5 m120.5 m121 m122.1 m

Retained Earnings

90.9 m87.8 m89.4 m89.6 m94.9 m

Total Equity

203.6 m161.1 m155.9 m178.9 m

Debt to Equity Ratio

0.1 x0.1 x0 x

Debt to Assets Ratio

0.1 x0.1 x0 x0 x

Financial Leverage

1.7 x1.9 x1.9 x1.8 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

15.8 m32.5 m22.3 m15 m18.3 m22.8 m18.5 m29.3 m23.4 m22.9 m26.7 m26.4 m39.5 m

Accounts Receivable

52.5 m51.5 m55.3 m53.6 m55.6 m56.2 m55.7 m49.9 m45 m47.2 m46.6 m55.1 m62.1 m

Inventories

132.8 m112.1 m119.3 m123.2 m116.3 m122.3 m119.2 m117.1 m118.1 m120.4 m115.9 m118.5 m109.4 m

Current Assets

218 m213 m212.1 m207.5 m207 m217 m208.5 m209 m200.1 m205.1 m202.5 m213.7 m229.9 m

PP&E

74.7 m73 m71.9 m68.2 m65.4 m66.3 m63.8 m62.3 m60.4 m59.7 m56.9 m57.2 m51.7 m

Goodwill

14.8 m9.9 m11.6 m6.7 m6.7 m6.7 m6.6 m6.6 m6.6 m6.6 m6.7 m6.7 m6.6 m

Total Assets

345.6 m333.6 m334.6 m319.9 m313.1 m324 m312.1 m309.5 m298.2 m302.8 m299.8 m310.3 m321.1 m

Accounts Payable

26.3 m22.6 m28 m26.6 m27.1 m30.5 m25.4 m24.5 m22.5 m24.3 m26 m26 m27.7 m

Short-term debt

4.6 m4.2 m3.5 m3.7 m4.2 m4.7 m4.5 m5.5 m4.9 m4.8 m2.9 m4.6 m

Current Liabilities

88.9 m72.3 m71.1 m73.3 m74.4 m81 m77.6 m79 m71.6 m77.1 m74.3 m81.6 m81.3 m

Long-term debt

24 m16.7 m15.6 m13.8 m10.7 m9.7 m8.7 m5.4 m4.6 m3.8 m2.3 m

Non-Current Liabilities

86.7 m53.5 m52.4 m49.4 m69.3 m68.5 m66.1 m66.9 m64.5 m62.4 m67.3 m63.6 m54.2 m

Total Debt

28.6 m20.9 m19.1 m17.5 m15 m14.4 m13.2 m10.8 m9.5 m8.6 m5.2 m4.6 m

Common Stock

125 k128 k128 k128 k128 k129 k129 k128 k129 k129 k129 k129 k130 k

Additional Paid-in Capital

114.4 m119.8 m120.4 m120.3 m120.9 m121 m121 m120.5 m120.7 m121.2 m121.2 m121.5 m122.5 m

Retained Earnings

85 m90.2 m91.3 m83.5 m86.1 m87.4 m86.9 m87.9 m87.8 m86.1 m87.2 m89.5 m96.7 m

Total Equity

170 m207.7 m174.5 m168.3 m163.6 m162.1 m163.4 m158.2 m165.1 m185.6 m

Financial Leverage

2 x1.6 x1.9 x1.9 x1.9 x1.8 x1.9 x1.9 x1.9 x1.7 x

Hardinge Cash Flow

Annual

usdFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

9.9 m(2.1 m)2.6 m1.2 m5.8 m

Depreciation and Amortization

9.6 m9.8 m8.5 m8.8 m8.9 m

Accounts Receivable

(68 k)(7.9 m)3.9 m(284 k)(3 m)

Inventories

(1.3 m)(1.4 m)252 k6.5 m

Accounts Payable

(4.1 m)2.2 m450 k141 k611 k

Cash From Operating Activities

25.8 m3.2 m26.7 m5.3 m25.1 m

Cash From Investing Activities

(31.7 m)(8.5 m)(4.1 m)(2.4 m)(2.6 m)

Long-term Borrowings

(9.3 m)(4.5 m)(5.8 m)(6.1 m)

Dividends Paid

(944 k)(1 m)(1 m)(1.1 m)(526 k)

Cash From Financing Activities

13.7 m(12.1 m)(5.7 m)(6.5 m)(7.4 m)

Free Cash Flow

29.7 m6.4 m30.9 m2.8 m21.9 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

3.8 m(453 k)896 k(6.7 m)(1.4 m)178 k(149 k)(1.2 m)(1.1 m)(2.5 m)(2 m)475 k1.8 m

Depreciation and Amortization

6.8 m2.5 m5 m7.3 m2.3 m4.6 m6.8 m2 m4.1 m6.1 m2.2 m4.4 m2.1 m

Accounts Receivable

5.2 m5.5 m1.9 m2.7 m6.6 m6.7 m6 m7.6 m11.8 m9.8 m9.8 m2.3 m1 m

Inventories

1.4 m1.7 m(4.7 m)(10.1 m)(4.8 m)(8.5 m)(8.7 m)(4.9 m)(7.7 m)(9.5 m)(8.2 m)(8.3 m)(3 m)

Accounts Payable

(2.4 m)(1.5 m)3.5 m2.7 m2.1 m5.1 m990 k(514 k)(2.2 m)(586 k)1.1 m745 k734 k

Cash From Operating Activities

8.4 m(998 k)353 k(837 k)3.8 m10.5 m9 m(5.4 m)(6 m)(4.3 m)(1.1 m)(258 k)(3.8 m)

Cash From Investing Activities

(36.3 m)(277 k)(4.3 m)(7.2 m)(699 k)(2 m)(3.1 m)(404 k)(955 k)(1.5 m)(477 k)(952 k)(1.4 m)

Long-term Borrowings

(2.9 m)(5.8 m)(7.6 m)(8.4 m)(1.5 m)(2.4 m)(3.2 m)(1 m)(2.3 m)(3.2 m)(762 k)(1.5 m)

Dividends Paid

(701 k)(249 k)(503 k)(757 k)(255 k)(525 k)(781 k)(274 k)(536 k)(792 k)(258 k)(516 k)

Cash From Financing Activities

17.3 m(839 k)(8.4 m)(11 m)(1.6 m)(3.1 m)(4.2 m)1.9 m(2.6 m)(4 m)(948 k)(2.6 m)

Free Cash Flow

6.2 m(1.3 m)(771 k)(2.7 m)3.1 m8.6 m5.9 m(5.8 m)(7 m)(5.9 m)(1.6 m)(1.2 m)(5.2 m)

Hardinge Ratios

USDY, 2018

Financial Leverage

1.7 x
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