Scott's Liquid Gold, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Scott's Liquid Gold, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Scott's Liquid Gold - Inc. (HKHC) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Scott's Liquid Gold, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing pertains to the fiscal quarter ending March 31, 2024. The company's SIC code is 2844 for Perfumes, Cosmetics & Other Toilet Preparations. The filing was made on May 8, 2024. The company's principal executive offices are located in Denver, CO.

Why It Matters

For investors and stakeholders tracking Scott's Liquid Gold - Inc., this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operational status for the first quarter of 2024. Investors and analysts can use this report to assess the company's financial health, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: low — Scott's Liquid Gold - Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant new risks beyond typical business operations.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 20240331 — Reporting Period End Date (Conformed period of report)
• 20240508 — Filing Date (Filed as of date)
• 2844 — SIC Code (Standard Industrial Classification)
• 001-13458 — SEC File Number (SEC file number)

Key Players & Entities

• Scott's Liquid Gold - Inc. (company) — Filer name
• 20240331 (date) — Conformed period of report
• 20240508 (date) — Filed as of date
• 2844 (industry_code) — Standard Industrial Classification
• DENVER (location) — Business address city
• CO (location) — Business address state
• 001-13458 (filing_id) — SEC file number
• slgd (ticker) — Ticker symbol

FAQ

Industry Context

Scott's Liquid Gold operates within the Perfumes, Cosmetics & Other Toilet Preparations industry.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and future outlook.
3. Check for any new risk factors or legal proceedings disclosed in the report.

Year-Over-Year Comparison

This is a 10-Q filing for the first quarter of 2024, providing an update from previous filings.

Key Financial Figures

• $0.10 — 13,006,162 shares of its common stock, $0.10 par value per share, outstanding. CAU

Filing Documents

• slgd-20240331.htm (10-Q) — 887KB
• slgd-ex31_1.htm (EX-31.1) — 12KB
• slgd-ex32_1.htm (EX-32.1) — 7KB
• 0000950170-24-055614.txt (&nbsp;) — 4393KB
• slgd-20240331.xsd (EX-101.SCH) — 748KB
• slgd-20240331_htm.xml (XML) — 644KB

Financial Statements

Financial Statements 1 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 13 Item 4.

Controls and Procedures

Controls and Procedures 15 PART II Item 1A.

Risk Factors

Risk Factors 17 Item 6. Exhibits 17 P ART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS . SCOTT'S LIQUID GOLD-INC. & SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except per share data) Three Months Ended March 31, 2024 2023 Net sales $ 859 $ 852 Cost of sales 501 487 Gross profit 358 365 Operating expenses: Advertising 17 109 Selling 188 406 General and administrative 674 622 Intangible asset amortization - 45 Total operating expenses 879 1,182 Loss from operations ( 521 ) ( 817 ) Interest income 29 - Interest expense - ( 152 ) Loss before income taxes and discontinued operations ( 492 ) ( 969 ) Income tax benefit - 4 Loss from continuing operations ( 492 ) ( 965 ) Income from discontinued operations - 1,334 Net (loss) income $ ( 492 ) $ 369 Basic and diluted net loss per common shares: Loss from continuing operations $ ( 0.04 ) $ ( 0.08 ) Income from discontinued operations $ - $ 0.11 Net (loss) income $ ( 0.04 ) $ 0.03 Weighted average shares outstanding: Basic and diluted 13,006 12,797 See accompanying notes to these Condensed Consolidated Financial Statements. 1 SCOTT'S LIQUID GOLD-INC. & SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except par value amounts) March 31, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash $ 3,027 $ 3,677 Restricted cash 250 250 Accounts receivable, net 357 307 Due from buyers 145 145 Inventories 428 365 Prepaid expenses 143 207 Total current assets 4,350 4,951 Operating lease right-of-use assets 1,326 1,376 Other assets 36 40 Total assets $ 5,712 $ 6,367 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 323 $ 544 Accrued expenses 5 19 Due to buyers 92 - Operating lease liabilities, current por

View Full Filing

View this 10-Q filing on SEC EDGAR