INVACARE CORPORATION IVC Income Statement

Invacare corporation (IVC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Net Sales
218,440	232,913	235,774	235,858	223,419	244,576	244,559	246,152	237,060	250,351	250,906	233,517	231,723	246,740	268,145	275,037	257,552	283,265	283,776	286,273	289,024	318,199	320,520	326,943	304,501	321,730	336,578	344,760	331,437	326,481	361,518	372,719	355,100	131,000	456,519	466,412	428,498	437,476	430,828
Cost of Revenue
155,452	164,952	168,189	170,792	161,964	176,352	178,970	178,806	170,543	182,007	180,166	168,495	166,578	178,010	194,703	201,442	189,692	202,462	206,137	208,986	211,929	229,829	235,873	235,365	221,708	235,652	242,371	251,203	237,853	235,337	252,106	256,935	244,503	46,216	325,442	331,494	305,492	305,909	304,338
Gross Profit
62,988	67,961	67,585	65,066	61,455	68,224	65,589	67,346	66,517	68,344	70,740	65,022	65,145	68,730	73,442	73,595	67,860	80,803	77,639	77,287	77,095	88,370	84,647	91,578	82,793	86,078	94,207	93,557	93,584	91,144	109,412	115,784	110,597	84,784	131,077	134,918	123,006	131,567	126,490
Selling, General and Administrative Expense
61,738	63,026	63,539	68,255	65,241	66,934	69,945	73,763	71,264	72,661	75,921	75,721	72,513	74,520	77,705	78,722	72,834	77,521	77,463	82,422	81,240	86,737	98,181	100,345	96,802	92,430	97,579	104,088	103,235	98,368	103,281	104,461	100,713	71,106	104,135	112,417	105,777	101,946	104,421
Gain on sale of business
9,590	-	-	-	0	-	-	-	-	-	-	-	-	-	7,386	-	-	-	24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of an intangible asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,253	-	638	-	167	-	-	-	0	-	-	-	-	-	-	-	-
Restructuring Charges
1,392	8,188	1,628	1,321	692	1,816	920	344	401	3,301	703	4,987	3,283	1,148	508	689	102	1,031	11	689	240	2,705	4,077	2,090	2,240	2,338	1,884	2,592	2,522	7,162	1,175	2,006	561	8,515	1,311	431	0	0	0
Operating Income (Loss)
9,448	-3,840	2,418	-4,510	-4,478	-1,109	-5,276	-6,761	-5,148	-7,938	-5,884	-15,686	-10,651	-6,938	2,615	-5,816	-5,076	2,251	189	-5,824	-4,385	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on Convertible Debt Derivatives
0	0	0	-1,470	273	-7,790	-4,080	-21	-103	957	2,550	1,051	-901	1,014	-1,192	-486	-604	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-280	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	312	-	-2	-7,462	-11,855	-4,881	-3,711	-14,048
Interest expense
6,676	7,049	6,992	7,721	7,314	7,295	7,115	6,964	6,962	6,900	6,844	4,645	4,518	4,647	4,481	4,374	2,373	1,713	1,021	710	692	2,603	549	1,046	689	507	639	815	1,117	975	2,114	2,299	2,351	3,618	1,644	2,233	2,611	5,172	5,770
Interest Income, Other
60	-	-	-	129	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	113	119	-	64	85	136	249	199	137	49	88	58	79	74	54	43	42	42	38	78	38	323	68	145	58	74	107	76	166	143	301	42	625	279	267	185	163
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest
2,832	-16,706	-4,741	-10,642	-11,936	-550	-8,226	-13,568	-11,758	-15,596	-15,141	-21,333	-14,180	-12,541	-595	-9,630	-6,791	581	-790	-6,492	-5,039	-8,385	-26,375	-11,580	-16,870	-10,408	-6,004	-13,864	-13,183	-16,058	3,008	6,849	7,273	-47,895	17,150	8,261	10,004	20,923	2,414
Income Tax Expense (Benefit)
2,100	1,977	3,300	2,075	1,950	695	3,800	2,975	2,350	2,066	3,450	2,175	2,600	5,099	4,425	1,950	1,825	3,510	7,000	1,725	2,475	-1,700	2,350	2,875	2,025	7,455	270	10,625	-7,475	-113	2,445	11,155	1,668	4,780	4,350	-2,400	2,550	5,325	3,025
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,929	-7,790	-8,217	-7,514	-6,685	-28,725	-14,455	-18,895	-17,863	-6,274	-24,489	-5,708	-15,945	563	-4,306	5,605	-	-	-	-	-	-
Net earnings from discontinued operations (net of tax of $1,200)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-216	50	843	919	2,229	1,198	1,448	1,567	8,652	2,301	2,329	2,628	-	-	-	-	-	-
Gain on sale (net of tax of $0; $0 and $140)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	260	-2,485	13,579	0	0	9,863	21,178	10,580	39,322	0	0	0	0	-	-	-	-	-	-
Total Net Earnings from Discontinued Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	260	-2,701	13,629	843	919	12,092	22,376	12,028	40,889	8,652	2,301	2,329	2,628	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
732	-18,683	-8,041	-12,717	-13,886	-1,245	-12,026	-16,543	-14,108	-17,662	-18,591	-23,508	-16,780	-17,640	-5,020	-11,580	-8,616	-2,929	-7,790	-8,217	-7,254	-9,386	-15,096	-13,612	-17,976	-5,771	16,102	-12,461	35,181	-7,293	2,864	-1,977	8,233	-35,028	12,800	10,661	7,454	15,598	-611
Dividends Declared per Common Share
0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	0.01	0.01	-	0.01	-	-	0.01	0.01
Net Earnings (Loss) per Share—Basic
Net loss from continuing operations - Basic (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.09	-0.24	-0.26	-0.23	-0.21	-0.90	-0.45	-0.59	-0.55	-0.20	-0.77	-0.18	-0.51	0.02	-0.14	0.18	-	-	-	-	-	-
Net earnings (loss) from discontinued operations - Basic (in dollars per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.01	-0.09	0.43	0.03	0.03	0.38	0.70	0.38	1.28	0.28	0.07	0.07	0.08	-	-	-	-	-	-
Earnings Per Share, Basic
0.02	-0.55	-0.24	-0.38	-0.42	-0.04	-0.36	-0.50	-0.43	-0.53	-0.57	-0.72	-0.52	-0.54	-0.15	-0.36	-0.27	-0.08	-0.24	-0.26	-0.23	-0.29	-0.47	-0.43	-0.56	-0.17	0.50	-0.39	1.10	-0.22	0.09	-0.07	0.26	-1.09	0.40	0.33	0.23	0.48	-0.02
Weighted Average Number of Shares Outstanding, Basic
33,784	33,663	33,660	33,749	33,304	33,184	33,232	33,169	32,911	32,833	32,867	32,833	32,475	32,872	32,465	32,176	32,371	32,253	32,175	32,131	32,125	32,000	32,006	32,017	32,013	31,954	31,902	31,902	31,902	31,050	31,877	31,818	31,819	31,835	31,873	31,950	32,174	32,431	32,386
Net Earnings (Loss) per Share—Assuming Dilution
Net loss from continuing operations assuming dilution (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.09	-0.24	-0.26	-0.23	-0.21	-0.90	-0.45	-0.59	-0.55	-0.20	-0.77	-0.18	-0.51	0.02	-0.14	0.18	-	-	-	-	-	-
Net earnings (loss) from discontinued operations assuming dilution (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.01	-0.09	0.42	0.03	0.03	0.37	0.70	0.38	1.28	0.28	0.07	0.07	0.08	-	-	-	-	-	-
Earnings Per Share, Diluted
0.02	-0.55	-0.24	-0.38	-0.42	-0.04	-0.36	-0.50	-0.43	-0.53	-0.57	-0.72	-0.52	-0.54	-0.15	-0.36	-0.27	-0.08	-0.24	-0.26	-0.23	-0.29	-0.47	-0.43	-0.56	-0.18	0.50	-0.39	1.10	-0.22	0.09	-0.07	0.26	-1.08	0.40	0.32	0.23	0.48	-0.02
Weighted Average Number of Shares Outstanding, Diluted
33,853	33,819	33,668	33,764	33,317	32,611	33,766	33,996	33,799	33,595	33,372	33,193	32,704	32,620	32,610	32,530	32,600	32,740	32,715	32,888	32,389	32,077	32,194	32,216	32,301	32,148	32,066	32,024	31,934	31,939	31,901	31,822	31,822	31,208	32,191	33,006	33,015	32,524	32,386
Other comprehensive income (loss):
Foreign currency translation adjustments
-4,194	4,542	-9,057	-9,086	5,102	-14,942	-4,294	-23,438	11,816	-108	27,439	26,311	949	-24,862	-3,408	10,307	10,769	-25,862	4,518	-6,682	-53,378	-30,384	-22,836	-4,936	6,648	10,415	9,790	-7,738	-1,498	14,664	15,764	-40,386	334	-	-	-	-	-	-
Amortization of prior service costs and unrecognized(losses) gains
-169	-320	-201	-101	26	4,804	-98	290	-47	4,485	-168	-426	-295	-1,051	-333	-6	-190	-2,122	-66	719	94	-2,931	30	15	708	1,476	359	236	-300	-932	-38	130	-228	-795	-16	-15	-25	-	-
Amounts arising during the year, primarily addition of new participants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-784	-	-	0	0	-	0	-154	0	-166	0	0	-133	-35	-1,409	-170	-265	-204	-	-
Deferred tax adjustment resulting from defined benefit plan activity
-18	6	-38	-22	6	-1	3	-33	82	100	-21	-15	3	194	-87	11	16	57	-24	-22	33	-408	8	7	180	156	71	80	48	-336	13	-37	11	552	40	75	35	-	-
Valuation reserve associated with defined benefit plan activity
-18	6	-38	-22	6	-1	3	-33	82	100	-21	-15	3	283	-87	11	16	60	-24	-22	33	-251	6	9	14	82	69	74	50	72	13	-41	11	-225	-6	-4	-17	-	-
Foreign currency translation adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-11,852	25,560	35,433	-	-
Current period (gain) loss on cash flow hedges
-142	-1,432	-315	1,685	-509	-262	437	1,966	-247	-621	-191	-1,907	631	-172	159	-2,559	1,165	2,327	-630	-986	2,020	-464	809	483	-584	-696	-104	-694	1,577	-1,454	-1,322	253	793	2,810	-816	-374	-1,315	-	-
Deferred tax loss (benefit) related to (gain) loss on cash flow hedges
0	-128	-12	160	-21	-109	20	261	-110	7	-8	-271	166	-84	29	-292	203	170	-78	-11	96	-18	347	-159	-84	-47	15	-39	81	-126	-38	-23	134	-629	188	359	31	-	-
Other Comprehensive Loss
-4,505	2,918	-9,561	-7,662	4,640	-10,291	-3,975	-21,443	11,632	3,749	27,088	24,249	1,119	-25,912	-3,611	8,034	11,541	-25,824	3,900	-7,722	-51,360	-33,604	-22,346	-4,277	6,690	10,568	9,874	-8,163	134	12,540	14,518	-40,377	1,186	-34,397	-12,632	25,336	33,938	-	-
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
-3,773	-15,765	-17,602	-20,379	-9,246	-11,536	-16,001	-37,986	-2,476	-13,913	8,497	741	-15,661	-43,552	-8,631	-3,546	2,925	-28,753	-3,890	-15,939	-58,614	-42,990	-37,442	-17,889	-11,286	4,797	25,976	-20,624	35,315	5,247	17,382	-42,354	9,419	-69,425	168	35,997	41,392	-	-
Net Sales, as a Percent of Net Sales
100.00%	-	100.00%	100.00%	100.00%	-	100.00%	100.00%	100.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Products Sold, as a Percent of Net Sales
71.20%	-	71.30%	72.40%	72.50%	-	73.20%	72.60%	71.90%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit, as a Percent of Net Sales
28.80%	-	28.70%	27.60%	27.50%	-	26.80%	27.40%	28.10%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative expenses, as a Percent of Net Sales
28.30%	-	26.90%	28.90%	29.20%	-	28.60%	30.00%	30.10%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of business, as a Percent of Net Sales
-4.40%	-	-	-	0.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charges related to restructuring activities, as a Percent of Net Sales
0.60%	-	0.70%	0.60%	0.30%	-	0.40%	0.10%	0.20%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Gain (Loss), as a Percent of Net Sales
4.30%	-	1.00%	-1.90%	-2.00%	-	-2.20%	-2.70%	-2.20%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss (gain) on convertible debt derivatives, as a Percent of Net Sales
0.00%	-	0.00%	-0.60%	0.10%	-	-1.70%	0.00%	0.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss (gain) on on debt extinguishment, as a Percent of Net Sales
-	-	0.10%	-	-	-	0.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense, as a Percent of Net Sales
3.10%	-	3.00%	3.30%	3.30%	-	2.90%	2.80%	2.90%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income, as a Percent of Net Sales
0.00%	-	0.00%	-0.10%	-0.10%	-	0.00%	-0.10%	-0.10%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) Before Income Taxes, as a Percent of Net Sales
1.30%	-	-2.00%	-4.50%	-5.30%	-	-3.40%	-5.50%	-5.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income Tax Provision, as a Percent of Net Sales
1.00%	-	1.40%	0.90%	0.90%	-	1.60%	1.20%	1.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Gain (Loss), as a percent of Net Sales
0.30%	-	-3.40%	-5.40%	-6.20%	-	-4.90%	-6.70%	-6.00%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-