Dorman Products, Inc. 10-Q Filing

Ticker: DORM · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 868780

Dorman Products, Inc. 10-Q Filing Summary
FieldDetail
CompanyDorman Products, Inc. (DORM)
Form Type10-Q
Filed DateAug 2, 2024
Pages16
Reading Time19 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 10-Q filing submitted by Dorman Products, Inc. (ticker: DORM) to the SEC on Aug 2, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $0.01 (ich registered Common stock, par value $0.01 per share DORM The Nasdaq Stock Market).

How long is this filing?

Dorman Products, Inc.'s 10-Q filing is 16 pages with approximately 4,830 words. Estimated reading time is 19 minutes.

Where can I view the full 10-Q filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 4,830 words · 19 min read · ~16 pages · Grade level 13.5 · Accepted 2024-08-02 07:33:07

Key Financial Figures

  • $0.01 — ich registered Common stock, par value $0.01 per share DORM The Nasdaq Stock Market

Filing Documents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION ITEM 1.

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Statements of Operations and Comprehensive Income 3 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 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 15 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 ITEM 4.

Controls and Procedures

Controls and Procedures 25

— OTHER INFORMATION

PART II — OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 26 ITEM 1A.

Risk Factors

Risk Factors 26 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 ITEM 3. Defaults Upon Senior Securities 26 ITEM 4. Mine Safety Disclosures 26 ITEM 5. Other Information 27 ITEM 6. Exhibits 27 Exhibit Index 27

Signatures

Signatures 28 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements DORMAN PRODUCTS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Six Months Ended (in thousands, except per share data) June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales $ 502,951 $ 480,568 $ 971,652 $ 947,306 Cost of goods sold 303,550 317,062 590,805 639,323 Gross profit 199,401 163,506 380,847 307,983 Selling, general and administrative expenses 126,949 108,308 253,957 234,671 Income from operations 72,452 55,198 126,890 73,312 Interest expense, net 10,202 12,565 20,807 24,518 Other (income) expense, net ( 136 ) ( 396 ) ( 96 ) ( 753 ) Income before income taxes 62,386 43,029 106,179 49,547 Provision for income taxes 14,976 10,259 25,941 11,094 Net income $ 47,410 $ 32,770 $ 80,238 $ 38,453 Other comprehensive income: Change in foreign currency translation adjustment $ ( 519 ) $ 566 $ ( 1,618 ) $ 685 Comprehensive Income $ 46,891 $ 33,336 $ 78,620 $ 39,138 Earnings per share: Basic $ 1.53 $ 1.04 $ 2.58 $ 1.22 Diluted $ 1.53 $ 1.04 $ 2.58 $ 1.22 Weighted average shares outstanding: Basic 30,957 31,466 31,048 31,451 Diluted 31,071 31,528 31,160 31,533 See accompanying Notes to Condensed Consolidated Financial Statements 3 Table of Contents DORMAN PRODUCTS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED ) (in thousands, except for share data) June 29, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 47,467 $ 36,814 Accounts receivable, less allowance for doubtful accounts of $ 1,583 and $ 3,518 526,183 526,867 Inventories 620,371 637,375 Prepaids and other current assets 39,014 32,653 Total current assets 1,233,035 1,233,709 Property, plant and equipment, net 165,766 160,113 Operating lease right-of-use assets 102,461 103,476 Goodwill 443,020 443,889 Intangible assets, net 290,277 301,556 Other assets 51,156 49,664 Total assets $ 2,285,715 $ 2,292,407 Liabilities and shareholders'

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