Company Quick10K Filing
Dynamic Materials
Price44.40 EPS4
Shares15 P/E12
MCap659 P/FCF19
Net Debt16 EBIT74
TEV675 TEV/EBIT9
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-07-23
10-Q 2020-03-31 Filed 2020-04-23
10-K 2019-12-31 Filed 2020-02-24
10-Q 2019-09-30 Filed 2019-10-25
10-Q 2019-06-30 Filed 2019-07-25
10-Q 2019-03-31 Filed 2019-04-25
10-K 2018-12-31 Filed 2019-02-21
10-Q 2018-09-30 Filed 2018-10-25
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-04-26
10-K 2017-12-31 Filed 2018-03-08
10-Q 2017-09-30 Filed 2017-10-26
10-Q 2017-06-30 Filed 2017-07-27
10-Q 2017-03-31 Filed 2017-04-27
10-K 2016-12-31 Filed 2017-03-09
10-Q 2016-09-30 Filed 2016-10-27
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-04-29
10-K 2015-12-31 Filed 2016-03-11
10-Q 2015-09-30 Filed 2015-10-30
10-Q 2015-06-30 Filed 2015-07-28
10-Q 2015-03-31 Filed 2015-04-28
10-K 2014-12-31 Filed 2015-03-16
10-Q 2014-09-30 Filed 2014-10-28
10-Q 2014-06-30 Filed 2014-07-29
10-Q 2014-03-31 Filed 2014-04-29
10-K 2013-12-31 Filed 2014-03-07
10-Q 2013-09-30 Filed 2013-10-30
10-Q 2013-06-30 Filed 2013-07-30
10-Q 2013-03-31 Filed 2013-04-30
10-K 2012-12-31 Filed 2013-03-14
10-Q 2012-09-30 Filed 2012-10-30
10-Q 2012-06-30 Filed 2012-07-31
10-Q 2012-03-31 Filed 2012-05-01
10-K 2011-12-31 Filed 2012-03-09
10-Q 2011-09-30 Filed 2011-11-01
10-Q 2011-06-30 Filed 2011-08-02
10-Q 2011-03-31 Filed 2011-04-28
10-K 2010-12-31 Filed 2011-02-28
10-Q 2010-09-30 Filed 2010-10-28
10-Q 2010-06-30 Filed 2010-07-29
10-Q 2010-03-31 Filed 2010-04-29
10-K 2009-12-31 Filed 2010-03-12
8-K 2020-07-28 Officers, Exhibits
8-K 2020-07-23 Earnings, Exhibits
8-K 2020-06-25 Enter Agreement, Regulation FD, Exhibits
8-K 2020-05-20
8-K 2020-04-23
8-K 2020-04-17
8-K 2020-04-16
8-K 2020-04-01
8-K 2020-02-20
8-K 2019-12-17
8-K 2019-10-24
8-K 2019-08-30
8-K 2019-07-25
8-K 2019-05-10
8-K 2019-04-25
8-K 2019-04-03
8-K 2019-02-27
8-K 2019-02-21
8-K 2018-10-25
8-K 2018-08-22
8-K 2018-07-26
8-K 2018-06-01
8-K 2018-04-26
8-K 2018-03-08
8-K 2018-02-27

BOOM 10Q Quarterly Report

Part I - Financial Information
Item 1. Condensed Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosure About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10.1 ex101-firstamendmentag.htm
EX-31.1 boom-exx311q2x06302020.htm
EX-31.2 boom-exx312q2x06302020.htm
EX-32.1 boom-exx321q2x06302020.htm
EX-32.2 boom-exx322q2x06302020.htm

Dynamic Materials Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
2902321741165802012201420172020
Assets, Equity
1158861347-202012201420172020
Rev, G Profit, Net Income
20136-1-8-152012201420172020
Ops, Inv, Fin

boom-20200630
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
 
Form 10-Q
 (Mark One)
 
      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020
 
OR
 
         TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934

FOR THE TRANSITION PERIOD FROM                   TO                   .
 
Commission file number 001-14775

 DMC GLOBAL INC.
(Exact name of Registrant as Specified in its Charter)
Delaware
 
84-0608431
(State of Incorporation or Organization) (I.R.S. Employer Identification No.)
11800 Ridge Parkway, Suite 300, Broomfield, Colorado 80021
(Address of principal executive offices, including zip code)
 
(303) 665-5700
(Registrant’s telephone number, including area code)
 

Title of each classTrading SymbolName of exchange on which registered
Common Stock, $0.05 Par Value
BOOMThe Nasdaq Global Select Market


Indicate by check mark whether the registrant:  (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes    No 
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes    No 
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 
Large accelerated filer ☐
 
Accelerated filer
   
Non-accelerated filer ☐
 
Smaller reporting company
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 under the Act).  Yes    No 
 
The number of shares of Common Stock outstanding was 14,769,263 as of July 23, 2020.





CAUTIONARY NOTE ABOUT FORWARD-LOOKING STATEMENTS
 
This quarterly report on Form 10-Q contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. We intend the forward-looking statements throughout this quarterly report on Form 10-Q to be covered by the safe harbor provisions for forward-looking statements. Statements contained in this report which are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projected results. These statements can sometimes be identified by our use of forward-looking words such as “may,” “believe,” “plan,” “anticipate,” “estimate,” “expect,” “intend,” and other phrases of similar meaning. Such statements include the planned reduction in spending and our 2020 capital budget and our expected liquidity position over the next three quarters. The forward-looking information is based on information available as of the date of this quarterly report and on numerous assumptions and developments that are not within our control. Although we believe that our expectations as expressed in these forward-looking statements are reasonable, we cannot assure you that our expectations will turn out to be correct. Factors that could cause actual results to differ materially include, but are not limited to, those factors referenced in our Annual Report on Form 10-K for the year ended December 31, 2019 and such things as the following: impacts of COVID-19 and any preventative or protective actions taken by governmental authorities, including economic recessions or depressions; the ability to obtain new contracts at attractive prices; the size and timing of customer orders and shipments; product pricing and margins; our ability to realize sales from our backlog; fluctuations in customer demand; fluctuations in foreign currencies; competitive factors; the timely completion of contracts; the timing and size of expenditures; the timely receipt of government approvals and permits; the price and availability of metal and other raw material; fluctuations in tariffs or quotas; changes in laws and regulations, both domestic and foreign, impacting our business and the business of the end-market users we serve; the adequacy of local labor supplies at our facilities; current or future limits on manufacturing capacity at our various operations; our ability to successfully integrate acquired businesses; the impact of pending or future litigation or regulatory matters; the availability and cost of funds; our ability to access our borrowing capacity under our credit facility; and changes in global economic conditions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof. We undertake no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.



INDEX
 
  Page
   
 
 
 
 
 
 
   
   
   
   
   
   
   
   
   
   
   
   
 

3

Table of Contents

Part I - FINANCIAL INFORMATION

ITEM 1.  Condensed Consolidated Financial Statements
DMC GLOBAL INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands, Except Share and Per Share Data)
June 30, 2020December 31, 2019
(unaudited)
ASSETS  
Current assets:  
Cash and cash equivalents$17,248  $20,353  
Accounts receivable, net of allowance for doubtful accounts of $2,882 and $967, respectively
33,684  60,855  
Inventories59,760  53,728  
Prepaid expenses and other8,419  9,417  
Total current assets119,111  144,353  
Property, plant and equipment175,832  174,741  
Less - accumulated depreciation(69,379) (66,507) 
Property, plant and equipment, net106,453  108,234  
Purchased intangible assets, net4,784  5,880  
Deferred tax assets4,157  3,836  
Other assets17,512  15,118  
Total assets$252,017  $277,421  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$21,473  $34,758  
Accrued expenses5,780  6,903  
Dividend payable  1,866  
Accrued income taxes5,727  9,651  
Accrued employee compensation and benefits6,714  10,668  
Contract liabilities5,226  2,736  
Current portion of long-term debt3,125  3,125  
Other current liabilities1,846  1,716  
Total current liabilities49,891  71,423  
Long-term debt9,595  11,147  
Deferred tax liabilities2,747  3,786  
Other long-term liabilities19,501  18,924  
Total liabilities81,734  105,280  
Commitments and contingencies (Note 11)
Stockholders’ equity
Preferred stock, $0.05 par value; 4,000,000 shares authorized; no issued and outstanding shares
    
Common stock, $0.05 par value; 25,000,000 shares authorized; 14,769,310 and 14,652,675 shares outstanding, respectively
765  756  
Additional paid-in capital88,501  85,639  
Retained earnings115,576  119,002  
Other cumulative comprehensive loss(26,038) (25,803) 
Treasury stock, at cost, and company stock held for deferred compensation, at par; 527,981 and 464,532 shares, respectively
(8,521) (7,453) 
Total stockholders’ equity170,283  172,141  
Total liabilities and stockholders’ equity$252,017  $277,421  
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
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DMC GLOBAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in Thousands, Except Share and Per Share Data)
(unaudited)


Three months ended June 30,Six months ended June 30,
 2020201920202019
Net sales$43,203  $110,954  $116,766  $211,089  
Cost of products sold36,599  68,881  85,696  132,611  
Gross profit6,604  42,073  31,070  78,478  
Costs and expenses:    
General and administrative expenses6,707  9,460  14,831  18,628  
Selling and distribution expenses5,488  7,239  14,015  13,548  
Amortization of purchased intangible assets353  397  707  795  
Restructuring expenses, net and asset impairments2,046  324  3,162  402  
Total costs and expenses14,594  17,420  32,715  33,373  
Operating (loss) income(7,990) 24,653  (1,645) 45,105  
Other (expense) income:    
Other (expense) income, net(85) 343  32  322  
Interest expense, net(156) (409) (394) (782) 
(Loss) income before income taxes(8,231) 24,587  (2,007) 44,645  
Income tax (benefit) provision(2,583) 7,343  (514) 12,231  
Net (loss) income$(5,648) $17,244  $(1,493) $32,414  
Net (loss) income per share    
Basic$(0.38) $1.17  $(0.10) $2.20  
Diluted$(0.38) $1.15  $(0.10) $2.17  
Weighted average shares outstanding:    
Basic14,832,242  14,647,019  14,745,661  14,624,718  
Diluted14,832,242  14,899,987  14,745,661  14,849,816  
Dividends declared per common share$  $0.02  $0.125  $0.04  
 
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
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DMC GLOBAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(Amounts in Thousands)
(unaudited)

 
Three months ended June 30,Six months ended June 30,
 2020201920202019
Net (loss) income$(5,648) $17,244  $(1,493) $32,414  
Change in cumulative foreign currency translation adjustment605  1,538  (235) 1,119  
Total comprehensive (loss) income$(5,043) $18,782  $(1,728) $33,533  
 
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
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DMC GLOBAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Amounts in Thousands, Except Share Data)
(unaudited)


     OtherTreasury Stock and 
   Additional CumulativeCompany Stock Held for 
 Common StockPaid-InRetainedComprehensive Deferred Compensation 
 SharesAmountCapitalEarningsLossSharesAmountTotal
Balances, March 31, 202015,260,835  $763  $86,832  $121,224  $(26,643) (509,593) (8,487) $173,689  
Net loss—  —  —  (5,648) —  —  —  $(5,648) 
Change in cumulative foreign currency translation adjustment—  —  —  —  605  —  —  $605  
Shares issued in connection with stock compensation plans36,456  2  261  —  —  —  —  $263  
Stock-based compensation—  —  1,408  —  —  —  —  $1,408  
Treasury stock activity—  —  —  —  —  (18,388) (34) $(34) 
Balances, June 30, 202015,297,291  $765  $88,501  $115,576  $(26,038) (527,981) $(8,521) $170,283  


     Other 
   Additional Cumulative 
 Common StockPaid-InRetainedComprehensiveTreasury Stock 
 SharesAmountCapitalEarningsLossSharesAmountTotal
Balances, March 31, 201915,089,080  $755  $81,122  $104,162  $(35,433) (103,384) (1,695) 148,911  
Net income—  —  —  17,244  —  —  —  17,244  
Change in cumulative foreign currency translation adjustment—  —  —  —  1,538  —  —  1,538  
Shares issued in connection with stock compensation plans18,834  1  357  —  —  —  —  358  
Stock-based compensation—  —  1,360  —  —  —  —  1,360  
Dividends declared—  —  —  (299) —  —  —  (299) 
Treasury stock activity—  —  14  —  —  (357,439) (5,625) (5,611) 
Balances, June 30, 201915,107,914  $756  $82,853  $121,107  $(33,895) (460,823) $(7,320) $163,501  

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DMC GLOBAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Amounts in Thousands, Except Share Data)
(unaudited)
     OtherTreasury Stock and 
   Additional CumulativeCompany Stock Held for 
 Common StockPaid-InRetainedComprehensive Deferred Compensation 
 SharesAmountCapitalEarningsLossSharesAmountTotal
Balances, December 31, 201915,117,207  $756  $85,639  $119,002  $(25,803) (464,532) $(7,453) $172,141  
Net loss—  —  —  (1,493) —  —  —  (1,493) 
Change in cumulative foreign currency translation adjustment—  —  —  —  (235) —  —  (235) 
Shares issued in connection with stock compensation plans180,084  9  254  —  —  —  —  263  
Adjustment for cumulative effect from change in accounting principle (ASU 2016-13)—  —  —  (50) —  —  —  (50) 
Stock-based compensation—  —  2,608  —  —  —  —  2,608  
Dividends declared—  —  —  (1,883) —  —  —  (1,883) 
Treasury stock activity—  —  —  —  —  (63,449) (1,068) (1,068) 
Balances, June 30, 202015,297,291  $765  $88,501  $115,576  $(26,038) (527,981) $(8,521) $170,283  

     Other 
   Additional Cumulative 
 Common StockPaid-InRetainedComprehensiveTreasury Stock 
 SharesAmountCapitalEarningsLossSharesAmountTotal
Balances, December 31, 201814,987,962  $749  $80,077  $89,291  $(35,014) (82,186) $(817) $134,286  
Net income—  —  —  32,414  —  —  —  32,414  
Change in cumulative foreign currency translation adjustment—  —  —  —  1,119  —  —  1,119  
Shares issued in connection with stock compensation plans119,952  7  351  —  —  7,502  —  358  
Stock-based compensation—