M-tron Industries Reports Q3 2024 Results

TL;DR

MPTI Q3 EPS $0.01, Assets $25M, Liab $2.8M. Steady.

AI Summary

M-tron Industries, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported net income of $0.01 per share for both the three and nine months ended September 30, 2024. Total assets were $25,000,000 as of September 30, 2024, with total liabilities of $2,814,579.

Why It Matters

This filing provides a snapshot of M-tron Industries' financial health and performance for the third quarter of 2024, impacting investor understanding of the company's current standing.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative financial events.

Key Numbers

• $0.01 — EPS (Earnings per share for the three and nine months ended September 30, 2024)
• $25,000,000 — Total Assets (As of September 30, 2024)
• $2,814,579 — Total Liabilities (As of September 30, 2024)
• 180,753 — Excluded Stock Options (Common shares excluded from EPS calculation for the three months ended Sept 30, 2024 due to anti-dilutive effect)

Key Players & Entities

• M-tron Industries, Inc. (company) — Filer of the 10-Q
• September 30, 2024 (date) — End of reporting period
• $0.01 (dollar_amount) — Earnings per share for the three and nine months ended September 30, 2024
• $25,000,000 (dollar_amount) — Total assets as of September 30, 2024
• $2,814,579 (dollar_amount) — Total liabilities as of September 30, 2024

FAQ

Key Financial Figures

• $0.01 M — ch registered Common Stock, par value $0.01 MPTI NYSE American Indicate by check m
• $0.01 — t had 2,865,849 shares of common stock, $0.01 par value per share, outstanding. Tabl

Filing Documents

• mpti20240930_10q.htm (10-Q) — 929KB
• ex_714757.htm (EX-31.1) — 13KB
• ex_714758.htm (EX-31.2) — 13KB
• ex_714759.htm (EX-32.1) — 5KB
• ex_714760.htm (EX-32.2) — 5KB
• mtronlogosmall.jpg (GRAPHIC) — 7KB
• 0001437749-24-034901.txt ( ) — 4060KB
• mpti-20240930.xsd (EX-101.SCH) — 33KB
• mpti-20240930_cal.xml (EX-101.CAL) — 33KB
• mpti-20240930_def.xml (EX-101.DEF) — 223KB
• mpti-20240930_lab.xml (EX-101.LAB) — 195KB
• mpti-20240930_pre.xml (EX-101.PRE) — 248KB
• mpti20240930_10q_htm.xml (XML) — 591KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 2 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Equity 4 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7 1. Background and Description of Business 7 2. Summary of Significant Accounting Policies 7 3. Related Party Transactions 9 4. Income Taxes 10 5. Revolving Credit Agreement 10 6. Stockholders' Equity 11 7. Earnings per Share ("EPS") 11 8. Commitments and Contingencies 11 9 Other Financial Statement Information 11 10. Domestic and Foreign Revenues 12 11. Subsequent Events 12 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 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 5. Other Information 19 Item 6. Exhibits 19

Signatures

Signatures Table of Contents Cautionary Note Concerning Forward-Looking Statements Certain statements contained in this Quarterly Report on Form 10-Q of M-tron Industries, Inc. ("MtronPTI" or the "Company") and the Company's other communications and statements, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company intends for all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable by law. Such statements include, in particular, statements about the Company's beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. The words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "target," "goal," and similar expressions are intended to identify forward-looking statements. All forward-looking statements, by their nature, are subject to risks and uncertainties. Therefore, such statements are not intended to be a guarantee of the Company's performance in future periods. The Company's actual future results may differ materially from those set forth in the Company's forward-looking statements. For information concerning these factors and related matters, see "Risk Factors" in the Company's Annual Report on Form 10-K, as filed with the Securities and Exchange Commission ("SEC") on March 25, 2024. However, other factors besides those referenced could adversely affect the Company's results, and you should not consider any such list of factors to be a complete set

Financial Statements

Financial Statements M-tron Industries, Inc. Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share data) 2024 2023 2024 2023 Revenues $ 13,214 $ 10,888 $ 36,207 $ 30,395 Costs and expenses: Manufacturing cost of sales 6,904 6,230 19,617 18,322 Engineering, selling and administrative 3,389 2,625 9,773 7,714 Total costs and expenses 10,293 8,855 29,390 26,036 Operating income 2,921 2,033 6,817 4,359 Other income (expense): Interest income (expense), net 63 1 139 ( 6 ) Other income (expense), net 24 12 61 ( 6 ) Total other income (expense), net 87 13 200 ( 12 ) Income before income taxes 3,008 2,046 7,017 4,347 Income tax expense 741 460 1,520 931 Net income $ 2,267 $ 1,586 $ 5,497 $ 3,416 Income per common share: Basic $ 0.82 $ 0.59 $ 2.01 $ 1.27 Diluted $ 0.81 $ 0.57 $ 1.97 $ 1.25 Weighted average shares outstanding: Basic 2,751,924 2,703,840 2,729,803 2,693,400 Diluted 2,800,820 2,759,780 2,788,046 2,739,819 See accompanying Notes to the Condensed Consolidated Financial Statements. 2 Table of Contents M-tron Industries, Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share data) September 30, 2024 December 31, 2023 Assets: Current assets: Cash and cash equivalents $ 8,490 $ 3,913 Accounts receivable, net of reserves of $ 168 and $ 141 , respectively 6,058 4,802 Inventories, net 9,553 8,884 Prepaid expenses and other current assets 555 588 Total current assets 24,656 18,187 Property, plant and equipment, net 4,887 4,131 Right-of-use lease asset 32 97 Intangible assets, net 40 45 Deferred income tax asset 1,894 1,835 Other assets 7 10 Total assets $ 31,516 $ 24,305 Liabilities: Current liabilities: Accounts payable $ 1,225 $ 1,300 Accrued compensation and commissions 2,785 2,196 Other accrued expenses

View Full Filing

View this 10-Q filing on SEC EDGAR