AstroNova Files 10-Q: Loan Details and Financial Updates

TL;DR

AstroNova 10-Q out: Euro loan due 2027, BoA credit tweaks. Keep an eye on debt.

AI Summary

AstroNova, Inc. filed its 10-Q for the period ending August 3, 2024. The filing details financial performance and includes information on various financial instruments and events, such as a Euro Government Grant Term Loan due between December 2024 and January 2027, and amendments to credit agreements with Bank of America. The company also reported on retained earnings and accumulated other comprehensive income as of April 27, 2024.

Why It Matters

This filing provides investors with crucial updates on AstroNova's financial health, including debt obligations and equity components, which can influence investment decisions.

Risk Assessment

Risk Level: medium — The filing mentions significant debt obligations and credit agreement amendments, indicating potential financial risks for the company.

Key Numbers

• 2027-01-31 — Loan Maturity (Indicates a significant debt obligation due in the near future.)
• 2024-08-03 — Reporting Period End (Defines the timeframe covered by the financial report.)

Key Players & Entities

• AstroNova, Inc. (company) — Filer of the 10-Q
• 20240803 (date) — End of the reporting period
• EuroGovernmentGrantTermLoanDueDecemberTwoThousandAndTwentyFourThroughJanuaryTwoThousandAndTwentySeven (dollar_amount) — A specific loan facility
• BankOfAmerica (company) — Lender involved in credit agreements
• 2027-01-31 (date) — Maturity date for a loan
• 2024-08-03 (date) — End of the fiscal quarter

FAQ

Filing Documents

• alot-20240803.htm (10-Q) — 2063KB
• alot-ex31_1.htm (EX-31.1) — 15KB
• alot-ex31_2.htm (EX-31.2) — 15KB
• alot-ex32_1.htm (EX-32.1) — 9KB
• alot-ex32_2.htm (EX-32.2) — 9KB
• 0000950170-24-107204.txt ( ) — 10045KB
• alot-20240803.xsd (EX-101.SCH) — 1415KB
• alot-20240803_htm.xml (XML) — 2011KB

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets – August 3, 2024 and January 31, 2024 1 Unaudited Condensed Consolidated Statements of Income (Loss) – Three and Six Months Ended August 3, 2024 and July 29, 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Income – Three and Six Months Ended August 3, 2024 and July 29, 2023 3 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity – Three and Six Months Ended August 3, 2024 and July 29, 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows – Six Months Ended August 3, 2024 and July 29, 2023 5 Notes to the Condensed Consolidated Financial Statements (unaudited) 6 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29 Part II. Other Information 30 Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 6. Exhibits 32

Signatures

Signatures 33 Pa rt I. FINANCIAL INFORMATION It em 1. Financial Statements ASTRONOVA, INC. CONDENSED CONSOL IDATED BALANCE SHEETS (In Thousands, Except Share Data) August 3, 2024 January 31, 2024 (Unaudited) ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 4,824 $ 4,527 Accounts Receivable, net 23,450 23,056 Inventories, net 50,569 46,371 Prepaid Expenses and Other Current Assets 4,218 2,720 Total Current Assets 83,061 76,674 Property, Plant and Equipment, net 18,750 14,185 Identifiable Intangibles, net 27,314 18,836 Goodwill 25,368 14,633 Deferred Tax Assets, net 10,854 6,882 Right of Use Asset 1,920 603 Other Assets 1,750 1,438 TOTAL ASSETS $ 169,017 $ 133,251 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts Payable $ 10,456 $ 8,068 Accrued Compensation 3,577 2,923 Other Accrued Expenses 4,369 2,706 Revolving Line of Credit 13,354 8,900 Current Portion of Long-Term Debt 6,513 2,842 Short-Term Debt 3,092 — Current Liability—Royalty Obligation 1,575 1,700 Current Liability—Excess Royalty Payment Due 798 935 Income Taxes Payable — 349 Deferred Revenue 785 1,338 Total Current Liabilities 44,519 29,761 NON-CURRENT LIABILITIES Long-Term Debt, net of current portion 22,675 10,050 Royalty Obligation, net of current portion 1,663 2,093 Lease Liabilities, net of current portion 1,633 415 Grant Deferred Revenue 1,476 — Contingent Liability Earn Out 1,629 — Income Taxes Payable 551 551 Deferred Tax Liabilities 3,121 99 TOTAL LIABILITIES 77,267 42,969 SHAREHOLDERS' EQUITY Preferred Stock, $ 10 Par Value, Authorized 100,000 shares, None Issued — — Common Stock, $ 0.05 Par Value, Authorized 13,000,000 shares; Issued 10,914,014 and 10,812,137 shares at August 3, 2024 and January 31, 2024, respectively 546 541 Additional Pai

View Full Filing

View this 10-Q filing on SEC EDGAR