Sparton (SPA) Financials

Summary - Funding Rounds

Founding Date

1900
Sparton is a subsidiary of Ultra Electronics

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

336.1 m382.1 m419.4 m

Revenue growth, %

14%10%

Cost of goods sold

307.5 m339.2 m

Gross profit

74.7 m80.1 m

Gross profit Margin, %

20%19%

General and administrative expense

55.2 m

Operating expense total

55.2 m

EBIT

19.9 m17.3 m(51.8 m)

EBIT margin, %

6%5%(12%)

Interest expense

2.5 m3.8 m

Interest income

3 k

Pre tax profit

15 m(55.5 m)

Income tax expense

4 m(17.2 m)

Net Income

13 m11 m(38.3 m)

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q1, 2016Q3, 2016Q2, 2017Q3, 2017Q3, 2018

Revenue

74.2 m84.6 m83.9 m77 m85.6 m93.1 m106.7 m103.5 m100.4 m102.2 m97.4 m95.4 m274.5 m

Cost of goods sold

62 m69.6 m67.5 m64.2 m70.5 m74.4 m85.6 m85 m83.1 m83.1 m81.5 m78.5 m221.8 m

Gross profit

12.2 m15 m16.4 m12.8 m15.2 m18.6 m21.1 m18.5 m17.3 m19.1 m15.9 m16.9 m52.7 m

Gross profit Margin, %

16%18%20%17%18%20%20%18%17%19%16%18%19%

R&D expense

100 k

General and administrative expense

7.6 m8.7 m8.8 m10.6 m10.8 m11.9 m13.6 m14.3 m13.4 m13.7 m13 m12.9 m42.5 m

Operating expense total

7.6 m8.7 m8.8 m10.7 m10.8 m11.9 m16.6 m18.1 m16 m16.4 m15.7 m15.4 m49.7 m

Depreciation and amortization

5.6 m

EBIT

3.4 m5.3 m6.3 m829 k2.7 m4.9 m4.5 m454 k1.3 m2.7 m221 k1.5 m3 m

EBIT margin, %

5%6%8%1%3%5%4%0%1%3%0%2%1%

Interest expense

158 k202 k187 k746 k357 k458 k885 k900 k1.2 m956 k1.1 m1.1 m4.2 m

Interest income

2 k2 k2 k

Pre tax profit

3.4 m5.2 m6.3 m231 k2.3 m4.5 m3.7 m(412 k)167 k1.7 m(857 k)475 k(1.2 m)

Income tax expense

1.1 m1.7 m2 m35 k767 k318 k1.3 m(680 k)59 k612 k50 k46 k10 m

Net Income

2.3 m3.5 m4.2 m196 k1.6 m4.1 m2.4 m268 k108 k1.1 m(907 k)429 k(11.3 m)

Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016

Cash

8 m14.9 m132 k

Accounts Receivable

137.9 m

Inventories

2.7 m5.5 m5.8 m

Current Assets

116.6 m175.6 m130.6 m

PP&E

28.5 m32.6 m33.3 m

Goodwill

28.2 m74.2 m12.7 m

Total Assets

199 m337.6 m246 m

Accounts Payable

16.5 m29.9 m38.3 m

Short-term debt

900 k217 k

Current Liabilities

41.1 m58.6 m62.4 m

Total Debt

217 k

Total Liabilities

167.4 m

Additional Paid-in Capital

19.5 m16 m16.4 m

Retained Earnings

78.9 m89.9 m51.7 m

Total Equity

116.9 m78.6 m

Debt to Equity Ratio

0 x

Debt to Assets Ratio

0 x

Financial Leverage

2.9 x3.1 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q1, 2016Q3, 2016Q2, 2017Q3, 2017Q3, 2018

Cash

2.7 m1 m7.5 m6.5 m3.2 m5.6 m2.2 m4.8 m718 k834 k589 k1 m792 k

Current Assets

114.6 m105.1 m112 m112.5 m109 m125.5 m160.7 m150.2 m122.6 m154.7 m113.5 m119 m135.6 m

PP&E

28.6 m28.6 m28.6 m29.3 m28.8 m29.8 m32.9 m33.8 m32.9 m34 m32.9 m33.8 m33.8 m

Goodwill

18.8 m30.2 m28.7 m32 m37.9 m54.7 m72.5 m77.3 m12.7 m76.8 m12.7 m12.7 m12.7 m

Total Assets

176.6 m182.6 m193.2 m207.1 m209.1 m243.5 m319.7 m312.4 m234.8 m313.4 m223.2 m227.5 m224.6 m

Accounts Payable

16.1 m16.9 m20.4 m17.9 m16.1 m22.2 m26.5 m26.8 m34.7 m38.3 m29.8 m35.4 m28.4 m

Short-term debt

139 k141 k1.7 m267 k165 k267 k268 k218 k

Current Liabilities

46.3 m51.6 m49.3 m47.7 m35.6 m44.4 m53.9 m51.2 m52.5 m61.8 m51.1 m53.6 m51 m

Long-term debt

138.8 m133.8 m123.4 m

Total Debt

139 k141 k1.7 m138.8 m133.8 m267 k123.6 m267 k268 k218 k

Total Liabilities

79 m80.7 m86.7 m97.2 m101.5 m131.6 m200 m192.1 m155.7 m192.6 m144 m148.3 m153.7 m

Additional Paid-in Capital

17.9 m18.7 m19.1 m19.2 m15.5 m15.8 m16.5 m16.9 m16.8 m16.1 m17.7 m17.2 m18.1 m

Retained Earnings

68.2 m71.7 m76 m79.1 m80.7 m84.8 m92.3 m92.6 m51.8 m93.7 m50.9 m51.3 m41.7 m

Total Equity

119.7 m120.3 m79.1 m120.7 m79.2 m79.2 m70.9 m

Financial Leverage

2.7 x2.6 x3 x2.6 x2.8 x2.9 x3.2 x

Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016

Net Income

13 m11 m(38.3 m)

Depreciation and Amortization

8.1 m6.6 m9.6 m

Accounts Receivable

4.9 m(7 m)23.8 m

Accounts Payable

(2.7 m)(11.3 m)8 m

Cash From Operating Activities

12.5 m4.5 m48.1 m

Purchases of PP&E

(3.5 m)(5.8 m)(6.1 m)

Cash From Investing Activities

(39 m)(104.1 m)(4.8 m)

Long-term Borrowings

(40.6 m)(102.3 m)

Cash From Financing Activities

28.5 m106.5 m(58.1 m)

Interest Paid

631 k1.7 m3.5 m

Income Taxes Paid

7.1 m7.2 m766 k

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q1, 2016Q3, 2016Q2, 2017Q3, 2017Q3, 2018

Net Income

2.3 m3.5 m4.2 m196 k1.6 m4.1 m2.4 m2.7 m108 k3.8 m(799 k)(370 k)(11.3 m)

Depreciation and Amortization

1.3 m1.5 m1.5 m3.7 m8 m3.7 m11.8 m7.4 m11 m10 m

Accounts Receivable

11 m14.4 m(1.4 m)9.5 m(637 k)(1.3 m)(20.4 m)

Accounts Payable

17.9 m16.1 m22.2 m(2.2 m)(6.5 m)(10.2 m)6.8 m(11.6 m)(9.3 m)(1.8 m)

Cash From Operating Activities

4.4 m13.1 m3.2 m21.3 m14.7 m15.5 m(18.4 m)

Purchases of PP&E

(1.5 m)(3.3 m)(1.1 m)(5.2 m)(2.6 m)(4.8 m)(3.8 m)

Cash From Investing Activities

(1.5 m)(2.5 m)(4.3 m)

Long-term Borrowings

(67 m)(128.3 m)

Cash From Financing Activities

(15.7 m)(20.7 m)(1.5 m)(31.1 m)(11.6 m)(9.8 m)21.9 m

Interest Paid

663 k1.5 m1.1 m2.4 m2 m2.4 m3.3 m

Income Taxes Paid

2 k766 k766 k354 k553 k675 k
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