Company Quick10K Filing
Great Lakes Dredge & Dock
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 65 $704
10-Q 2019-11-05 Quarter: 2019-09-30
10-Q 2019-08-02 Quarter: 2019-06-30
10-Q 2019-05-03 Quarter: 2019-03-31
10-K 2019-02-26 Annual: 2018-12-31
10-Q 2018-11-06 Quarter: 2018-09-30
10-Q 2018-08-01 Quarter: 2018-06-30
10-Q 2018-05-04 Quarter: 2018-03-31
10-K 2018-03-01 Annual: 2017-12-31
10-Q 2017-11-07 Quarter: 2017-09-30
10-Q 2017-08-03 Quarter: 2017-06-30
10-Q 2017-05-03 Quarter: 2017-03-31
10-K 2017-02-28 Annual: 2016-12-31
10-Q 2016-11-02 Quarter: 2016-09-30
10-Q 2016-08-04 Quarter: 2016-06-30
10-Q 2016-05-03 Quarter: 2016-03-31
10-K 2016-02-29 Annual: 2015-12-31
10-Q 2015-11-04 Quarter: 2015-09-30
10-Q 2015-08-04 Quarter: 2015-06-30
10-Q 2015-05-06 Quarter: 2015-03-31
10-K 2015-03-06 Annual: 2014-12-31
10-Q 2014-11-06 Quarter: 2014-09-30
10-Q 2014-08-06 Quarter: 2014-06-30
10-Q 2014-05-07 Quarter: 2014-03-31
10-K 2014-03-11 Annual: 2013-12-31
10-Q 2013-11-05 Quarter: 2013-09-30
10-Q 2013-08-09 Quarter: 2013-06-30
10-Q 2013-05-08 Quarter: 2013-03-31
10-K 2013-03-29 Annual: 2012-12-31
10-Q 2012-11-07 Quarter: 2012-09-30
10-Q 2012-08-07 Quarter: 2012-06-30
10-Q 2012-05-04 Quarter: 2012-03-31
10-Q 2011-11-04 Quarter: 2011-09-30
10-Q 2011-08-05 Quarter: 2011-06-30
10-Q 2011-05-10 Quarter: 2011-03-31
10-K 2011-03-15 Annual: 2010-12-31
10-Q 2010-11-09 Quarter: 2010-09-30
10-Q 2010-08-09 Quarter: 2010-06-30
10-Q 2010-05-07 Quarter: 2010-03-31
10-K 2010-03-09 Annual: 2009-12-31
8-K 2020-01-07 Officers, Exhibits
8-K 2019-11-05 Earnings, Exhibits
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-05-03 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-05-02 Shareholder Vote
8-K 2019-04-30 Earnings, Exhibits
8-K 2019-02-20 Earnings, Exhibits
8-K 2018-11-06 Earnings, Exhibits
8-K 2018-08-01 Earnings, Exhibits
8-K 2018-05-02 Earnings, Exhibits
8-K 2018-05-02 Shareholder Vote
8-K 2018-03-07 Officers
8-K 2018-02-20 Earnings, Exhibits
GLDD 2019-09-30
Part I - Financial Information
Item 1. Financial Statements.
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures 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-31.1 gldd-ex311_201.htm
EX-31.2 gldd-ex312_202.htm
EX-32.1 gldd-ex321_200.htm
EX-32.2 gldd-ex322_199.htm

Great Lakes Dredge & Dock Earnings 2019-09-30

GLDD 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
ROAD 740 509 183 762 113 42 82 733 15% 9.0 8%
GLDD 704 869 618 701 162 29 84 901 23% 10.8 3%
DCO 521 680 407 677 138 20 52 746 20% 14.5 3%
WLDN 422 341 194 354 107 6 20 485 30% 24.0 2%
MG 405 733 452 740 214 0 40 663 29% 16.4 0%
VSEC 384 827 480 709 0 36 72 664 0% 9.2 4%
STRL 349 500 325 1,034 103 26 46 362 10% 7.9 5%
HIL 157 281 186 400 126 -16 -5 184 31% -37.9 -6%
CVU 98 154 55 100 21 4 11 100 21% 9.3 3%
ORN 68 363 230 166 10 -110 -70 148 6% -2.1 -30%

10-Q 1 gldd-10q_20190930.htm 10-Q gldd-10q_20190930.htm

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                  to                 

Commission file number: 001-33225

Great Lakes Dredge & Dock Corporation

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

20-5336063

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

 

 

2122 York Road, Oak Brook, IL

 

60523

(Address of principal executive offices)

 

(Zip Code)

(630) 574-3000

(Registrant’s telephone number, including area code)

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock (Par Value $0.0001)

GLDD

Nasdaq Stock Market, LLC

 

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 (§232.405 of this chapter) 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 of the Exchange Act).    Yes      No  

 

As of October 31, 2019, 63,919,970 shares of the Registrant’s Common Stock, par value $.0001 per share, were outstanding.

 

 

 


 

Great Lakes Dredge & Dock Corporation and Subsidiaries

Quarterly Report Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

For the Quarterly Period ended September 30, 2019

INDEX

 

 

 

 

 

Page

 

 

 

 

 

 

 

Part I Financial Information (Unaudited)

 

3

 

 

 

 

 

Item 1

 

Financial Statements

 

3

 

 

 

 

 

 

 

Condensed Consolidated Balance Sheets at September 30, 2019 and December 31, 2018

 

3

 

 

 

 

 

 

 

Condensed Consolidated Statements of Operations for the Three and Nine Months ended September 30, 2019 and 2018

 

4

 

 

 

 

 

 

 

Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months ended September 30, 2019 and 2018

 

5

 

 

 

 

 

 

 

Condensed Consolidated Statements of Equity for the Three and Nine Months Ended September 30, 2019 and 2018

 

6

 

 

 

 

 

 

 

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2019 and 2018

 

7

 

 

 

 

 

 

 

Notes to Condensed Consolidated Financial Statements

 

9

 

 

 

 

 

Item 2

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

21

 

 

 

 

 

Item 3

 

Quantitative and Qualitative Disclosures About Market Risk

 

28

 

 

 

 

 

Item 4

 

Controls and Procedures

 

28

 

 

 

 

 

 

 

Part II Other Information

 

29

 

 

 

 

 

Item 1

 

Legal Proceedings

 

29

 

 

 

 

 

Item 1A

 

Risk Factors

 

29

 

 

 

 

 

Item 2

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

29

 

 

 

 

 

Item 3

 

Defaults Upon Senior Securities

 

29

 

 

 

 

 

Item 4

 

Mine Safety Disclosures

 

29

 

 

 

 

 

Item 5

 

Other Information

 

29

 

 

 

 

 

Item 6

 

Exhibits

 

30

 

 

 

 

 

 

 

Signature

 

31

 

 

 

 

 

 

 

 

2


 

PART I — Financial Information

Item 1.

Financial Statements.

GREAT LAKES DREDGE & DOCK CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands, except per share amounts)  

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

ASSETS

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

180,855

 

 

$

34,458

 

Accounts receivable—net

 

 

31,043

 

 

 

64,779

 

Contract revenues in excess of billings

 

 

25,383

 

 

 

17,953

 

Inventories

 

 

27,547

 

 

 

28,112

 

Prepaid expenses and other current assets

 

 

31,626

 

 

 

36,617

 

Assets held for sale

 

 

 

 

 

24,779

 

Total current assets

 

 

296,454

 

 

 

206,698

 

 

 

 

 

 

 

 

 

 

PROPERTY AND EQUIPMENT—Net

 

 

374,798

 

 

 

369,863

 

OPERATING LEASE ASSETS

 

 

72,039

 

 

 

 

GOODWILL AND OTHER INTANGIBLE ASSETS—Net

 

 

76,576

 

 

 

76,576

 

INVENTORIES—Noncurrent

 

 

63,007

 

 

 

61,264

 

OTHER

 

 

9,894

 

 

 

15,870

 

TOTAL

 

$

892,768

 

 

$

730,271

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

Accounts payable

 

$

77,074

 

 

$

71,537

 

Accrued expenses

 

 

49,891

 

 

 

48,351

 

Operating lease liabilities

 

 

20,847

 

 

 

 

Billings in excess of contract revenues

 

 

69,387

 

 

 

17,793

 

Revolving credit facility

 

 

 

 

 

11,500

 

Liabilities held for sale

 

 

 

 

 

13,940

 

Total current liabilities

 

 

217,199

 

 

 

163,121

 

 

 

 

 

 

 

 

 

 

LONG-TERM DEBT

 

 

322,619

 

 

 

321,950

 

OPERATING LEASE LIABILITIES—Noncurrent

 

 

50,969

 

 

 

 

DEFERRED INCOME TAXES

 

 

36,526

 

 

 

22,846

 

OTHER

 

 

3,631

 

 

 

7,426

 

Total liabilities

 

 

630,944

 

 

 

515,343

 

 

 

 

 

 

 

 

 

 

COMMITMENTS AND CONTINGENCIES (Note 10)

 

 

 

 

 

 

 

 

EQUITY:

 

 

 

 

 

 

 

 

Common stock—$.0001 par value; 90,000 authorized, 63,916 and 62,830 shares issued; 63,916 and 62,552 shares outstanding at September 30, 2019 and December 31, 2018, respectively.

 

 

6

 

 

 

6

 

Treasury stock, at cost

 

 

 

 

 

(1,433

)

Additional paid-in capital

 

 

301,874

 

 

 

295,135

 

Accumulated deficit

 

 

(39,064

)

 

 

(74,971

)

Accumulated other comprehensive loss

 

 

(992

)

 

 

(3,809

)

Total equity

 

 

261,824

 

 

 

214,928

 

TOTAL

 

$

892,768

 

 

$

730,271

 

See notes to unaudited condensed consolidated financial statements.

3


 

Great Lakes Dredge & Dock Corporation and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands, except per share amounts)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenues

 

$

169,775

 

 

$

178,671

 

 

$

547,223

 

 

$

447,564

 

Costs of contract revenues

 

 

137,942

 

 

 

139,087

 

 

 

428,027

 

 

 

371,718

 

Gross profit

 

 

31,833

 

 

 

39,584

 

 

 

119,196

 

 

 

75,846

 

General and administrative expenses

 

 

13,488

 

 

 

14,343

 

 

 

42,926

 

 

 

39,668

 

(Gain) loss on sale of assets—net

 

 

(27

)

 

 

1,521

 

 

 

333

 

 

 

265

 

Operating income

 

 

18,372

 

 

 

23,720

 

 

 

75,937

 

 

 

35,913

 

Interest expense—net

 

 

(6,335

)

 

 

(8,058

)

 

 

(21,074

)

 

 

(25,702

)

Other income (expense)

 

 

(22

)

 

 

71

 

 

 

273

 

 

 

(1,961

)

Income from continuing operations before income taxes

 

 

12,015

 

 

 

15,733

 

 

 

55,136

 

 

 

8,250

 

Income tax provision

 

 

(3,204

)

 

 

(3,853

)

 

 

(14,280

)

 

 

(2,196

)

Income from continuing operations

 

 

8,811

 

 

 

11,880

 

 

 

40,856

 

 

 

6,054

 

Loss from discontinued operations, net of income taxes

 

 

(859

)

 

 

(178

)

 

 

(7,490

)

 

 

(4,647

)

Net income

 

$

7,952

 

 

$

11,702

 

 

$

33,366

 

 

$

1,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share attributable to continuing operations

 

$

0.14

 

 

$

0.19

 

 

$

0.64

 

 

$

0.10

 

Basic loss per share attributable to discontinued operations, net of tax

 

 

(0.02

)

 

 

 

 

 

(0.12

)

 

 

(0.08

)

Basic earnings per share

 

$

0.12

 

 

$

0.19

 

 

$

0.52

 

 

$

0.02

 

Basic weighted average shares

 

 

63,861

 

 

 

62,358

 

 

 

63,449

 

 

 

62,147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share attributable to continuing operations

 

$

0.14

 

 

$

0.19

 

 

$

0.63

 

 

$

0.10

 

Diluted loss per share attributable to discontinued operations, net of tax

 

 

(0.02

)

 

 

 

 

 

(0.12

)

 

 

(0.08

)

Diluted earnings per share

 

$

0.12

 

 

$

0.19

 

 

$

0.51

 

 

$

0.02

 

Diluted weighted average shares

 

 

65,071

 

 

 

63,260

 

 

 

64,860

 

 

 

63,340

 

 

See notes to unaudited condensed consolidated financial statements.

 

 

4


 

Great Lakes Dredge & Dock Corporation and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

(in thousands)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

7,952

 

 

$

11,702

 

 

$

33,366

 

 

$

1,407

 

Currency translation adjustment—net of tax (1)

 

 

 

 

 

(14

)

 

 

 

 

 

1,290

 

Net change in cash flow derivative hedges—net of tax (2)

 

 

(160

)

 

 

(201

)

 

 

2,817

 

 

 

(1,062

)

Other comprehensive income (loss)—net of tax

 

 

(160

)

 

 

(215

)

 

 

2,817

 

 

 

228

 

Comprehensive income

 

$

7,792

 

 

$

11,487

 

 

$

36,183

 

 

$

1,635

 

 

(1)

Net of income tax benefit (provision) of $21 and $(551) for the three and nine months ended September 30, 2018, respectively.

(2)

Net of income tax provision of $57 and $242 for the three months ended September 30, 2019 and 2018, respectively. Net of income tax benefit (provision) of $998 and $(1,191) for the nine months ended September 30, 2019 and 2018 respectively.

See notes to unaudited condensed consolidated financial statements.

 

 

5


 

Great Lakes Dredge & Dock Corporation and Subsidiaries

Condensed Consolidated Statements of Equity

(Unaudited)

(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

Shares of

 

 

 

 

 

 

Shares of

 

 

 

 

 

 

Additional

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Common

 

 

Common

 

 

Treasury

 

 

Treasury

 

 

Paid-In

 

 

Accumulated

 

 

Comprehensive

 

 

 

 

 

 

 

Stock

 

 

Stock

 

 

Stock

 

 

Stock

 

 

Capital

 

 

Deficit

 

 

Income (Loss)

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE—January 1, 2019

 

 

62,830

 

 

$

6

 

 

 

(278

)

 

$

(1,433

)

 

$

295,135

 

 

$

(74,971

)

 

$

(3,809

)

 

$

214,928

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative effect of recent accounting pronouncements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,802

 

 

 

 

 

 

2,802

 

Share-based compensation

 

 

60

 

 

 

 

 

 

 

 

 

 

 

 

6,720

 

 

 

 

 

 

 

 

 

6,720

 

Vesting of restricted stock units, including impact of shares withheld for taxes

 

 

605

 

 

 

 

 

 

 

 

 

 

 

 

(3,164

)

 

 

 

 

 

 

 

 

(3,164

)

Exercise of options and purchases from employee stock plans

 

 

699

 

 

 

 

 

 

 

 

 

 

 

 

4,355

 

 

 

 

 

 

 

 

 

4,355

 

Cancellation of treasury stock

 

 

(278

)

 

 

 

 

 

278

 

 

 

1,433

 

 

 

(1,172

)

 

 

(261

)

 

 

 

 

 

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

33,366

 

 

 

 

 

 

33,366

 

Other comprehensive income—net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,817

 

 

 

2,817

 

BALANCE—September 30, 2019

 

 

63,916

 

 

$

6

 

 

 

 

 

$

 

 

$

301,874

 

 

$

(39,064

)

 

$

(992

)

 

$

261,824

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE—January 1, 2018

 

 

61,897

 

 

$

6

 

 

 

(278

)

 

$

(1,433

)

 

$

289,821

 

 

$

(67,101

)

 

$

3

 

 

$

221,296

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cumulative effect of recent accounting pronouncements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,577

)

 

 

 

 

 

(1,577

)

Share-based compensation

 

 

105

 

 

 

 

 

 

 

 

 

 

 

 

3,294

 

 

 

 

 

 

 

 

 

3,294

 

Vesting of restricted stock units, including impact of shares withheld for taxes

 

 

492

 

 

 

 

 

 

 

 

 

 

 

 

(1,075

)

 

 

 

 

 

 

 

 

(1,075

)

Exercise of options and purchases from employee stock plans

 

 

236

 

 

 

 

 

 

 

 

 

 

 

 

862

 

 

 

 

 

 

 

 

 

862

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,407

 

 

 

 

 

 

1,407

 

Other comprehensive income—net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

228

 

 

 

228

 

BALANCE—September 30, 2018

 

 

62,730

 

 

$

6

 

 

 

(278

)

 

$

(1,433

)

 

$

292,902

 

 

$

(67,271

)

 

$

231

 

 

$

224,435

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

Shares of

 

 

 

 

 

 

Shares of

 

 

 

 

 

 

Additional

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

Common

 

 

Common

 

 

Treasury

 

 

Treasury

 

 

Paid-In

 

 

Accumulated

 

 

Comprehensive

 

 

 

 

 

 

 

Stock

 

 

Stock

 

 

Stock

 

 

Stock

 

 

Capital

 

 

Deficit

 

 

Income (Loss)

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE—July 1, 2019

 

 

63,769

 

 

$

6

 

 

 

 

 

$

 

 

$

299,320

 

 

$

(47,016

)

 

$

(832

)

 

$

251,478

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation

 

 

15

 

 

 

 

 

 

 

 

 

 

 

 

2,190

 

 

 

 

 

 

 

 

 

2,190

 

Vesting of restricted stock units, including impact of shares withheld for taxes

 

 

51

 

 

 

 

 

 

 

 

 

 

 

 

(235

)

 

 

 

 

 

 

 

 

(235

)

Exercise of options and purchases from employee stock plans

 

 

81

 

 

 

 

 

 

 

 

 

 

 

 

599

 

 

 

 

 

 

 

 

 

599

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7,952

 

 

 

 

 

 

7,952

 

Other comprehensive income—net of tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(160

)

 

 

(160

)

BALANCE—September 30, 2019

 

 

63,916

 

 

$

6

 

 

 

 

 

$

 

 

$

301,874

 

 

$

(39,064

)

 

$

(992

)

 

$

261,824

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BALANCE—July 1, 2018

 

 

62,583

 

 

$

6

 

 

 

(278

)