Tessco technologies inc (TESS)
Balance Sheet / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Apr'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
ASSETS
Current assets:
Cash and cash equivalents

0

108

17

30

1

-

9

19

19

42

245

158

8,540

8,354

10,754

12,571

16,882

7,474

5,966

6,377

7,524

9,536

2,656

6,236

11,467

8,281

3,230

377

4,468

2,594

16,985

14,268

18,211

14,451

13,448

3,893

8,178

Trade accounts receivable

82,545

91,624

81,254

93,966

90,374

97,895

92,815

87,862

87,862

85,036

92,945

79,792

64,778

70,981

70,595

61,316

58,315

67,211

66,164

63,476

59,572

63,877

80,665

80,678

67,495

63,605

75,059

80,843

82,177

99,081

93,744

97,070

88,748

123,617

71,195

83,375

65,708

Product inventory, net

70,773

84,144

101,407

71,845

74,644

89,669

86,367

72,323

72,323

66,500

73,229

72,105

63,984

63,129

72,251

58,295

53,903

65,931

75,099

78,019

72,363

65,114

81,838

73,015

61,955

62,372

66,221

66,462

60,913

65,045

76,289

57,615

53,360

68,446

56,665

51,457

45,709

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,822

3,875

3,865

-

6,890

6,932

6,922

6,913

6,175

6,220

6,206

6,227

3,135

3,135

3,135

3,135

5,004

5,004

5,004

2,545

Prepaid expenses and other current assets

6,880

9,081

7,555

5,562

5,965

4,918

5,585

4,489

4,489

4,544

4,429

4,685

3,864

4,992

5,594

5,954

5,917

5,531

6,868

8,378

10,868

10,352

3,478

4,736

2,336

2,420

2,613

3,292

3,482

2,962

4,149

3,932

2,308

-

-

-

-

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,884

2,122

1,721

1,668

Total current assets

160,199

184,958

190,234

171,404

170,986

192,482

184,777

164,693

164,693

156,123

170,849

156,742

141,167

147,458

159,196

138,138

135,019

149,970

157,974

160,117

150,328

155,770

175,571

171,589

150,168

142,854

153,345

157,183

157,268

172,819

194,304

176,021

165,763

213,404

148,437

145,451

123,811

Property and equipment, net

13,800

13,875

14,176

15,003

15,176

13,775

13,679

13,662

13,662

12,976

13,091

13,485

13,830

18,447

18,810

19,309

19,895

19,902

20,527

20,886

21,111

21,202

21,750

22,087

22,765

22,030

22,788

22,903

23,202

23,346

22,999

22,138

22,905

22,606

21,314

20,389

21,148

Goodwill

9,108

11,677

11,677

11,677

11,677

11,677

11,677

11,677

11,677

11,677

11,677

11,677

11,677

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

11,684

Intangible assets, net

9,145

-

-

5,097

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax assets

2,305

55

55

55

627

715

713

710

710

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease asset - right of use

14,577

13,718

4,398

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

495

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term assets

2,479

9,661

9,011

3,256

7,725

8,377

8,920

8,678

8,678

7,192

7,419

7,462

7,304

2,952

2,969

2,976

2,816

2,619

2,619

2,619

2,619

2,341

2,341

2,341

2,341

2,132

2,132

2,132

2,144

2,103

2,095

2,119

2,143

1,961

1,985

2,012

2,057

Total assets

211,616

233,947

229,554

206,495

206,193

227,028

219,768

199,423

199,423

187,969

203,037

189,369

173,980

180,543

192,660

172,108

169,416

184,177

192,806

195,308

186,240

190,999

211,347

207,702

186,960

178,701

189,950

193,903

194,300

209,954

231,083

211,964

202,497

249,656

183,421

179,538

158,701

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Trade accounts payable

60,618

72,745

90,769

73,059

67,565

87,662

82,483

67,041

67,041

62,383

69,170

63,111

53,581

58,616

69,843

49,443

41,986

49,158

56,449

60,051

51,804

51,081

73,526

71,855

50,756

44,074

58,815

59,368

65,209

88,408

108,433

98,369

78,344

132,640

75,754

74,904

62,913

Payroll, benefits and taxes

5,385

3,876

5,386

5,929

6,994

6,027

6,645

8,291

8,291

6,141

6,836

5,061

6,772

4,687

5,094

4,032

4,927

4,715

6,165

5,335

5,531

4,416

5,328

5,178

7,670

7,787

7,395

5,410

11,678

8,603

8,467

4,993

17,211

13,385

9,635

8,464

7,342

Income and sales tax liabilities

272

261

251

749

1,301

1,139

2,709

2,339

2,339

2,389

1,756

1,472

1,364

1,869

1,187

1,256

1,456

2,174

2,217

1,611

1,832

1,811

2,242

2,260

2,477

2,295

2,368

2,193

2,530

2,096

2,253

1,424

3,137

3,111

1,915

3,189

2,539

Accrued expenses and other current liabilities

3,042

3,204

2,778

2,652

2,949

2,935

2,795

1,397

1,370

1,074

1,973

1,925

2,228

3,000

3,659

3,877

3,874

4,270

5,150

6,824

8,688

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revolving line of credit

-

-

-

-

-

-

-

10,835

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,865

1,088

1,138

923

1,052

1,072

1,089

1,048

953

1,000

1,083

1,041

1,101

1,068

1,134

1,278

Revolving line of credit

29,356

35,279

20,115

14,378

16,905

19,741

15,770

-

10,835

5,937

13,278

8,338

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

9,145

0

-

-

-

0

-

-

-

0

Lease liability, current

2,553

2,486

2,852

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of long-term debt

-

-

-

-

9

16

22

-

27

26

26

26

26

26

26

26

251

251

250

250

250

250

250

250

250

250

249

249

249

249

249

249

249

248

285

322

359

Total current liabilities

101,228

117,853

122,153

96,768

95,725

117,522

110,427

89,904

89,904

77,952

93,041

79,935

63,972

68,199

79,811

58,636

52,495

60,569

70,233

74,072

68,107

66,424

82,435

80,683

62,078

55,459

69,901

77,455

80,717

100,310

120,403

106,120

99,983

150,488

88,658

88,014

74,432

Lease liability

12,095

11,393

1,568

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term liabilities

-

-

-

-

-

-

-

1,467

-

-

-

-

-

-

-

-

-

-

-

-

-

75,829

92,165

90,579

72,132

65,544

80,296

87,998

91,497

109,385

129,124

114,808

108,845

158,541

96,699

96,075

79,821

Deferred tax liabilities

-

-

-

-

-

-

-

-

-

344

373

380

386

-

-

-

379

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

397

364

372

-

3,360

3,360

3,360

-

4,260

4,260

4,260

4,260

3,951

3,951

3,951

3,951

2,243

2,243

2,243

2,243

3,407

3,407

3,407

949

Long-term liabilities

806

821

947

939

-

-

-

-

2

9

16

22

29

36

43

49

1,706

1,769

1,831

1,894

1,957

2,020

2,082

2,145

2,208

2,270

2,331

2,395

2,458

2,520

2,583

2,645

2,708

2,770

2,832

2,895

2,959

Other long-term liabilities

-

-

-

-

1,005

1,470

1,475

-

1,465

1,541

1,749

1,736

1,574

1,708

1,990

2,159

2,306

2,444

2,764

2,906

3,033

3,123

3,386

3,490

3,584

3,862

4,112

4,194

4,370

4,310

3,894

3,799

3,910

1,874

1,799

1,757

1,481

Total liabilities

114,130

130,068

124,669

97,708

96,731

118,992

111,903

91,372

91,372

79,848

95,180

82,075

65,964

70,342

82,209

61,217

56,888

68,142

78,189

82,233

73,098

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commitment and Contingencies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

-

-

0

Shareholders’ equity:
Preferred stock, $0.01 par value per share, 500,000 shares authorized and no shares issued and outstanding

-

-

-

-

-

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, $0.01 par value per share, 15,000,000 shares authorized, 14,320,019 shares issued and 8,543,200 shares outstanding as of December 29, 2019, and 14,190,027 shares issued and 8,468,529 shares outstanding as of March 31, 2019

101

101

100

99

99

99

99

99

99

98

98

98

98

98

98

98

97

97

97

97

96

95

95

95

94

94

94

93

91

91

91

90

88

86

86

86

84

Additional paid-in capital

64,854

64,504

63,148

62,666

62,140

61,729

61,062

60,611

60,611

60,170

59,801

59,337

59,006

58,661

58,473

58,246

58,113

57,866

57,679

57,234

56,517

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Treasury stock, at cost, 5,776,819 shares as of December 29, 2019 and 5,721,498 shares as of March 31, 2019

58,496

58,484

57,803

57,614

57,614

57,614

57,614

57,503

57,503

57,503

57,502

57,502

57,437

-

-

-

57,245

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Additional paid-in capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

56,475

56,129

55,679

53,987

53,407

52,843

52,146

50,481

49,582

48,653

47,673

45,135

43,750

42,963

41,891

40,668

Treasury stock, at cost, 5,710,383 shares outstanding as of December 25, 2016 and 5,698,270 shares outstanding as of March 27, 2016

-

-

-

-

-

-

-

-

-

-

-

-

-

57,432

57,432

57,432

-

57,134

57,134

57,134

56,307

56,106

51,727

51,488

50,084

49,866

49,866

49,816

48,438

48,304

48,075

48,075

46,276

45,044

45,044

44,851

44,388

Retained earnings

91,026

97,757

99,439

103,635

104,835

103,821

104,317

104,843

104,843

105,354

105,459

105,360

106,349

108,873

109,312

109,979

111,561

115,205

113,973

112,878

112,836

114,705

114,683

112,836

110,830

109,522

106,583

103,482

100,667

99,198

101,290

97,466

94,704

92,322

88,716

86,340

82,540

Accumulated other comprehensive loss, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-3

-24

Total shareholders’ equity

97,486

103,878

104,884

108,787

109,461

108,036

107,865

108,051

108,051

108,120

107,857

107,293

108,016

110,201

110,451

110,891

112,527

116,034

114,616

113,075

113,142

115,170

119,181

117,122

114,828

113,157

109,653

105,905

102,802

100,568

101,959

97,155

93,651

91,115

86,722

83,463

78,880

Total liabilities and shareholders’ equity

211,616

233,947

229,554

206,495

206,193

227,028

219,768

199,423

199,423

187,969

203,037

189,369

173,980

180,543

192,660

172,108

169,416

184,177

192,806

195,308

186,240

190,999

211,347

207,702

186,960

178,701

189,950

193,903

194,300

209,954

231,083

211,964

202,497

249,656

183,421

179,538

158,701