| Metric | Q1 2024 | Q4 2023 | Q1 2023 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $655M | $788M | $767M | -16.9% | -14.6% |
| Op. Income | $22M | $34M | $26M | -36.3% | -16.5% |
| Gross Margin | 16.0% | 15.7% | 15.0% | 0.3pp | 1.0pp |
| Net Margin | -4.3% | -2.8% | -3.2% | -1.5pp | -1.1pp |
| EPS (Diluted) | $-0.60 | $-0.47 | $-0.50 | -27.7% | -20.0% |
| Free Cash Flow | -$70M | $95M | -$79M | -173.6% | 11.6% |
| Item | Amount |
|---|---|
| REVENUE | $655M |
| Cost of Revenue | $550M |
| GROSS PROFIT | $105M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $83M |
| Other Expenses | $0 |
| Operating Expenses | $83M |
| Cost & Expenses | $633M |
| OPERATING INCOME | $22M |
| Interest Income | $0 |
| Interest Expense | $15M |
| Other Income/Expenses | -$48M |
| INCOME BEFORE TAX | -$26M |
| Income Tax Expense | $2M |
| Net Income from Continuing Ops | -$28M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$28M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$28M |
| D&A | $29M |
| EBIT | -$11M |
| EBITDA | $18M |
| EPS | -$1 |
| EPS Diluted | -$1 |
| Item | Amount |
|---|---|
| Net Income | -$28M |
| Depreciation & Amortization | $29M |
| Stock-Based Compensation | $2M |
| Deferred Income Tax | $300.0K |
| Other Non-Cash Items | $12M |
| Change in Working Capital | -$67M |
| OPERATING CASH FLOW | -$52M |
| Capital Expenditure | -$18M |
| Acquisitions (Net) | -$200.0K |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$16M |
| Net Debt Issuance | $30M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$2M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | $26M |
| FREE CASH FLOW | -$70M |
| Net Change in Cash | -$43M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10M |
| Short-Term Investments | $0 |
| Net Receivables | $303M |
| Inventory | $181M |
| Other Current Assets | $56M |
| TOTAL CURRENT ASSETS | $550M |
| PP&E (Net) | $694M |
| Goodwill | $100M |
| Intangible Assets | $18M |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $62M |
| TOTAL NON-CURRENT ASSETS | $874M |
| TOTAL ASSETS | $1.4B |
| Account Payables | $360M |
| Short-Term Debt | $72M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $174M |
| TOTAL CURRENT LIABILITIES | $631M |
| Long-Term Debt | $474M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $6M |
| Other Non-Current Liabilities | $143M |
| TOTAL NON-CURRENT LIABILITIES | $703M |
| TOTAL LIABILITIES | $1.3B |
| Common Stock | $1M |
| Additional Paid-In Capital | $838M |
| Retained Earnings | -$605M |
| Treasury Stock | -$29M |
| Accum. Other Comp. Income | -$117M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $89M |
| Minority Interest | $0 |
| TOTAL EQUITY | $89M |
| TOTAL LIABILITIES & EQUITY | $1.4B |
| Total Debt | $652M |
| Net Debt | $642M |
