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Unique Fabricating, Inc. (UFAB) SEC Filing 8-K Material Event for the period ending Thursday, March 7, 2019

Unique Fabricating, Inc.

CIK: 1617669 Ticker: UFAB
Exhibit 99.1


exhibit991image1.jpg

Unique Fabricating, Inc. Reports Fourth Quarter and Full Year 2018 Financial Results

Auburn Hills, MI - March 7, 2019 -- Unique Fabricating, Inc. ("Unique” or the "Company”)(NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced its financial results for the fourth quarter and 12 months ended December 30, 2018.
Full Year 2018 Financial Highlights and Subsequent Events
Revenue of $174.9 million in the full year 2018, down 0.2% compared to $175.3 million in the full year 2017
Net income of $3.7 million, or $0.38 per basic and $0.37 per diluted share in the full year 2018, compared to $6.5 million, or $0.67 per basic and $0.66 per diluted share in the full year 2017
Adjusted EBITDA of $17.1 million in the full year 2018, including $6.8 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards, compared to $18.0 million in the full year 2017, including $6.5 million for non-cash charges specifically related to depreciation and amortization and non-cash stock awards(1) 
Adjusted diluted earnings per share of $0.55 in the full year 2018 versus $0.69 in the full year 2017(1) 
Declared a quarterly cash dividend of $0.05 per share payable on March 7, 2019 for stockholders of record as of February 28, 2019


(1) For a reconciliation of GAAP to Non-GAAP results for Adjusted EBITDA and Adjusted diluted earnings per share please refer to the financial tables below.

“Unique grew sales in the fourth quarter and reached the higher-end of our revised revenue guidance range for the year despite lower than expected North American production volumes, as manufacturers continue to adjust production schedules to correspond with the continued consumer preferences for light trucks versus traditional passenger cars,” commented John Weinhardt, Chief Executive Officer. “Our growing presence in the light truck segment combined with the actions we took earlier in the year to enhance our operating efficiency enabled us to better respond to the changing market conditions. These moves were overshadowed by an increase in federal income tax on foreign sourced income as a result of the U.S. Tax Cuts and Jobs Act of 2017 and the timing of an interest rate swap we had entered into in accordance with the terms of the senior secured credit facility that we amended in November, both of which negatively impacted our earnings.”

“Subsequent to the fourth quarter, the Board decided to reduce the quarterly dividend to provide the Company with additional financial resources and to more aggressively reduce our long-term debt. We believe this decision to adjust our allocation to help decrease our financial leverage gives us greater flexibility, and enhanced operational and strategic options going forward,” Weinhardt added. “Our business continues to generate strong cash from operations with more than $9.4 million generated in 2018, a 25% increase over 2017. During 2019, we expect to significantly reduce our debt, thereby reducing our interest expense.”





“We continue to pursue operating initiatives that will reduce our costs, while improving our flexibility,” Weinhardt concluded. “We are cognizant of the challenges that our business and industry have faced over the last 12 months, and the negative impact it had on our performance, but we believe the adjustments we made in the second half of 2018 put us in a much better position to address any continued challenges in 2019. Based on our current visibility of awarded programs scheduled to launch in 2019 and 2020, we expect to continue to outperform the industry by leveraging our strong backlog and capturing ongoing incremental revenue opportunities.”

Fourth Quarter Financial Summary

Total revenue for the quarter ended December 30, 2018 decreased to $39.8 million, down 4.4%, or $1.8 million from $41.7 million during the same period last year. The decrease was primarily driven by the loss of business at two major non-automotive customers as a result of our decision to close our Ft. Smith, Arkansas facility, as well as extended plant holiday shutdowns by some of our customers to reduce vehicle inventory levels.

Gross profit for the quarter ended December 30, 2018 was $8.5 million, or 21.5% of total revenue, compared to $9.3 million, or 22.3% of total revenues, for the corresponding period last year. The decrease in gross profit was primarily related to the decline in revenues.

Net income for the quarter ended December 30, 2018 was $(0.2) million, or $(0.02) per basic and diluted share, compared to $2.1 million, or $0.21 per basic and diluted share, in the fourth quarter of 2017. The decrease in net income was primarily due to the lower sales resulting in a gross profit decline, higher interest expense due to higher outstanding debt balances and interest rates, as well as a non-cash unfavorable mark-to-market on a new interest rate swap, and unfavorable tax expense related to the GILTI provisions of the Tax Cuts on Jobs Act.

Adjusted EBITDA for the quarter ended December 30, 2018 was $3.2 million compared to $4.0 million in the fourth quarter of 2017. The decrease is primarily a result of the lower sales and gross margins as a percentage of sales described above. Please refer to the financial tables below for a reconciliation of GAAP to Non-GAAP results.

Adjusted diluted earnings per share for the quarter ended December 30, 2018 was $0.00 compared to $0.17 in the fourth quarter of 2017. Please refer to the financial tables below for a reconciliation of GAAP to Non-GAAP results.

Further non-cash purchase accounting impacts associated with the Company's acquisitions are detailed in the Purchase Accounting Impacts and Other Effects table below accompanying this release.

Year to Date Financial Summary

Total revenue for the full year 2018 decreased to $174.9 million, down 0.2%, or $0.4 million from $175.3 million during the same period last year. The decrease was primarily driven by an overexposure to the traditional passenger car segment as well as a modest decline in North American auto production year over year of approximately 1%. The loss of business at two of our non-automotive customers reference earlier was also a contributing factor. Despite the decline in auto production during 2018 when compared to 2017 however, our sales to the automotive market increased by 2 percent year-over-year.

Gross profit for the full year 2018 was $39.3 million, or 22.5% of total revenue, compared to $40.1 million, or 22.9% of total revenues, for the corresponding period last year. The decrease in gross profit as a percentage of sales was primarily related to the operational inefficiencies experienced from moving the manufacturing of products previously produced in the Ft. Smith, Arkansas facility to other manufacturing facilities of the Company during the third quarter, partially offset by savings realized from the plant closures we completed during 2018.

Restructuring expense for the full year 2018 of $1.2 million was related to the previously announced manufacturing facility closures in Port Huron, Michigan and Fort Smith, Arkansas and compares to $0 in the same period last year.

Net income for full year 2018 was $3.7 million, or $0.38 per basic and $0.37 per diluted share, respectively, compared to $6.5 million, or $0.67 per basic and $0.66 per diluted share, respectively, in the corresponding period last year. The decrease in net income was primarily due to the restructuring expenses, gross profit decreases described above, and higher interest expense due to higher interest rates and higher average outstanding debt balances in the fifty-two weeks ended December 30, 2018, as well as the unfavorable mark-to-market on the new interest rate swap entered into during the fourth quarter.




Adjusted EBITDA for the full year 2018 was $17.1 million compared to $18.0 million in the same period last year. The decrease is primarily a result of the lower margins described above. Please refer to the financial tables below for a reconciliation of GAAP to Non-GAAP results.

Adjusted diluted earnings per share for the full year 2018 was $0.55 compared to $0.69 in the same period last year. Please refer to the financial tables below for a reconciliation of GAAP to Non-GAAP results.

Further non-cash purchase accounting impacts associated with the Company's acquisitions are detailed in the Purchase Accounting Impacts and Other Effects table below accompanying this release.
Balance Sheet Summary
As of December 30, 2018 and December 31, 2017, the Company had approximately $1.4 million in cash and cash equivalents. Total debt outstanding as of December 30, 2018 was $55.9 million compared to $53.6 million as of December 31, 2017.

As of December 30, 2018, the Company had $11.6 million of available unused capacity, further subject to borrowing base restrictions and outstanding letters of credit, under its $30.0 million Revolving Line of Credit.
2019 Outlook
For the full year 2019, Unique Fabricating is updating its outlook based on current North American industry production forecasts published in February 2019, and the mix of production by light vehicle platform contained in such research.

Revenue
$167.0 million to $172.0 million
Adjusted diluted earnings per share
$0.45 to $0.55
Adjusted EBITDA
$16.6 million to $18.1 million

The Company does not present a quantitative reconciliation of its forward-looking non-GAAP financial measures to the most directly comparable GAAP measures due to the inherent difficulty, without unreasonable efforts, in forecasting and quantifying with reasonable accuracy significant items required for this reconciliation.
Dividend
Unique paid a quarterly cash dividend of $0.05 per share on March 7, 2019 to its stockholders of record as of the close of business on February 28, 2019. This compares to $0.15 per share paid in the previous quarter.
Quarterly Results Conference Call
Unique Fabricating will host a conference call and live webcast to discuss these results today at 9:00 a.m. Eastern Time. To access the call, please dial 1-877-705-6003 (toll-free) or 1-201-493-6725 and reference conference ID 13687665. The conference call will also be webcast live on the Investor Relations section of the company's website at http://uniquefab.investorroom.com
    
Following the conclusion of the live call, a replay of the webcast will be available on the Investor Relations section of the Company's website for at least 90 days. A telephonic replay of the conference call will also be available from 12:00PM ET on March 7, 2019 until 11:59PM ET on March 14, 2019 by dialing 1-844-512-2921 (United States) or 1-412-317-6671 (international) and using the pin number 13687665.
About Unique Fabricating, Inc.
Unique Fabricating, Inc. (NYSE MKT: UFAB) engineers and manufactures components for customers in the automotive and industrial appliance markets. The Company’s solutions are comprised of multi-material foam, rubber, and plastic components and utilized in noise, vibration and harshness (NVH) management, acoustical management, water and air sealing, decorative and other functional applications. Unique leverages proprietary manufacturing processes, including die cutting, thermoforming, compression molding, fusion molding, and reaction injection molding to manufacture a wide range of products including air management products, heating ventilating and air conditioning (HVAC), seals, fender stuffers, air ducts, acoustical insulation, door water shields, gas tank



pads, light gaskets, topper pads, mirror gaskets and glove box liners. The Company is headquartered in Auburn Hills, Michigan. For more information, visit http://www.uniquefab.com/.
About Non-GAAP Financial Measures
We present Adjusted EBITDA and Adjusted Diluted Earnings Per Share in this press release to provide a supplemental measure of our operating performance. We define Adjusted EBITDA as earnings before interest expense, income tax expense, depreciation and amortization expense, non-cash stock award, non-recurring integration expense, transaction fees related to our acquisitions, restructuring expenses, and one-time consulting and licensing ERP system implementation costs as we implement a new ERP system at all locations. We calculate Adjusted Diluted Earnings Per Share based upon earnings before non-cash stock awards, non-recurring expenses, transaction fees, and restructuring expenses, including the tax impact associated with these adjusting items. We believe that Adjusted EBITDA and Adjusted Diluted Earnings Per Share are useful performance measures used by us to facilitate a comparison of our operating performance and earnings on a consistent basis from period-to-period and to provide for a more complete understanding of factors and trends affecting our business than measures under generally accepted accounting principles in the United States of America (GAAP) can provide alone. Our board and management also use Adjusted EBITDA as one of the primary methods for planning and forecasting overall expected performance and for evaluating on a quarterly and annual basis actual results against such expectations, and as a performance evaluation metric in determining achievement of certain compensation programs and plans for Company management. In addition, the financial covenants in our senior secured credit facility are based on Adjusted EBITDA, as presented in this press release, subject to dollar limitations on certain adjustments and certain other addbacks permitted by our senior secured credit facility. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation as a substitute for analysis of Unique Fabricating's results as reported under GAAP.
Safe Harbor Statement
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Forward-looking statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause the Company's or the Company's industry's actual results, levels of activity, performance or achievements including statements relating to the Company’s 2019 Outlook to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by this press release. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “outlook,” and similar expressions are used to identify these forward looking statements. Such forward-looking statements include statements regarding, among other things, our expectations about revenue, Adjusted EBITDA, and adjusted diluted earnings per share. All such forward-looking statements are based on management’s present expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, those discussed in our Annual Report on Form 10-K for the year ended December 30, 2018 filed with the Securities and Exchange Commission and in particular the Section entitled “Risk Factors”, as well as any updates to those risk factors filed from time to time in our periodic and current reports filed with the Securities and Exchange Commission. All statements contained in this press release are made as of the date of this press release, and Unique Fabricating does not intend to update this information, unless required by law. Reference to the Company’s website above does not constitute incorporation of any of the information thereon into this press release.

Investor Contact:
Hayden IR
Brett Maas/Rob Fink
646-536-7331/646-415-8972
ufab@haydenir.com
Source: Unique Fabricating, Inc.







UNIQUE FABRICATING, INC.
Consolidated Statements of Operations

  
Fifty-Two Weeks Ended December 30, 2018
 
Fifty-Two Weeks Ended December 31, 2017
 
Fifty-Two Weeks Ended January 1, 2017
Net Sales
$
174,909,741

 
$
175,287,982

 
$
170,462,953

Cost of Sales
135,575,004

 
135,234,448

 
130,918,486

Gross Profit
39,334,737

 
40,053,534

 
39,544,467

Selling, General, and Administrative Expenses
29,780,956

 
29,766,864

 
27,524,453

Restructuring Expenses
1,155,910

 

 
35,054

Operating Income
8,397,871

 
10,286,670

 
11,984,960

Non-operating Income (Expense)
  

 
 
 
 
Investment income
50,169

 

 

Other income
(109,142
)
 
78,805

 
91,755

Interest expense
(3,778,328
)
 
(2,745,904
)
 
(2,134,976
)
Total non-operating expense
(3,837,301
)
 
(2,667,099
)
 
(2,043,221
)
Income – Before income taxes
4,560,570

 
7,619,571

 
9,941,739

Income Tax Expense
861,969

 
1,132,880

 
3,257,619

Net Income
$
3,698,601

 
$
6,486,691

 
$
6,684,120

Net Income per share
  

 
 
 
 
Basic
$
0.38

 
$
0.67

 
$
0.69

Diluted
$
0.37

 
$
0.66

 
$
0.68

Cash dividends declared per share
$
0.60

 
$
0.60

 
$
0.60


































UNIQUE FABRICATING, INC.
Consolidated Balance Sheets

  
December 30,
2018
 
December 31,
2017
Assets
  

 
 
Current Assets
  

 
 
Cash and cash equivalents
$
1,409,593

 
$
1,430,937

Accounts receivable – net
30,831,182

 
27,203,296

Inventory – net
16,285,507

 
16,330,084

Prepaid expenses and other current assets:
  

 
 
Prepaid expenses and other
2,511,486

 
3,962,012

Refundable taxes
983,073

 
646,253

Total current assets
52,020,841

 
49,572,582

Property, Plant, and Equipment – Net
25,077,745

 
22,975,401

Goodwill
28,871,179

 
28,871,179

Intangible Assets
15,568,383

 
19,635,782

Other assets
 
 
 
Investments – at cost
1,054,120

 
1,054,120

Deposits and other assets
198,854

 
353,719

Deferred tax asset
496,181

 
342,552

Total assets
$
123,287,303

 
$
122,805,335

Liabilities and Stockholders’ Equity
  

 
 
Current Liabilities
  

 
 
Accounts payable
$
11,465,222

 
$
11,708,175

Current maturities of long-term debt
3,350,000

 
3,799,998

Income taxes payable
40,634

 
348,910

Accrued compensation
2,848,282

 
2,840,559

Other accrued liabilities
1,432,109

 
1,027,489

Total current liabilities
19,136,247

 
19,725,131

Long-term debt – net of current portion
34,667,768

 
27,288,846

Line of credit
17,904,869

 
22,476,525

Other long-term liabilities
395,154

 

Deferred tax liability
2,295,105

 
2,432,754

Total liabilities
74,399,143

 
71,923,256

Stockholders’ Equity
 
 
 
Common stock, $0.001 par value – 15,000,000 shares authorized and 9,779,147 and 9,757,563 issued and outstanding at December 30, 2018 and December 31, 2017, respectively
9,780

 
9,758

Additional paid-in-capital
45,881,848

 
45,712,568

Retained earnings
2,996,532

 
5,159,753

Total stockholders’ equity
48,888,160

 
50,882,079

Total liabilities and stockholders’ equity
$
123,287,303

 
$
122,805,335













UNIQUE FABRICATING, INC.
Consolidated Statements of Cash Flows

  
Fifty-Two Weeks Ended December 30, 2018
 
Fifty-Two Weeks Ended December 31, 2017
 
Fifty-Two Weeks Ended January 1, 2017
Cash Flows from Operating Activities
  

 
  

 
 
Net income
$
3,698,601

 
$
6,486,691

 
$
6,684,120

Adjustments to reconcile net income to net cash provided by operating activities:
  

 
  

 
  

Depreciation and amortization
6,630,142

 
6,319,975

 
5,501,674

Amortization of debt issuance costs
147,291

 
148,948

 
127,556

(Gain) loss on sale of assets
(137,793
)
 
63,013

 
(126,631
)
Loss on extinguishment of debt
59,110

 

 
60,202

Bad debt adjustment
12,939

 
128,475

 
(274,364
)
Loss (gain) on derivative instruments
451,511

 
(228,387
)
 
22,193

Stock option expense
131,302

 
150,368

 
166,476

Deferred income taxes
(291,278
)
 
(1,552,502
)
 
(1,165,649
)
Changes in operating assets and liabilities that provided (used) cash:
  

 
  

 
  

Accounts receivable
(3,640,825
)
 
(443,826
)
 
(3,987,313
)
Inventory
44,577

 
401,524

 
339,784

Prepaid expenses and other assets
1,212,214

 
(1,765,990
)
 
(1,291,654
)
Accounts payable
1,008,447

 
(1,705,663
)
 
1,329,599

Accrued and other liabilities
104,067

 
(193,762
)
 
375,280

Net cash provided by operating activities
9,430,305

 
7,808,864

 
7,761,273

Cash Flows from Investing Activities
  

 
  

 
  

Purchases of property and equipment
(5,393,817
)
 
(4,140,135
)
 
(3,362,014
)
Proceeds from sale of property and equipment
904,237

 
51,847

 
2,187,366

Acquisition of Intasco, net of cash acquired

 

 
(21,030,795
)
Working capital adjustment from acquisition of Intasco

 

 
212,823

Net cash used in investing activities
(4,489,580
)
 
(4,088,288
)
 
(21,992,620
)
Cash Flows from Financing Activities
  

 
  

 
  

Net change in bank overdraft
(1,251,400
)
 
(37,978
)
 
548,892

Proceeds from debt
10,131,574

 

 
32,000,000

Payments on term loans
(2,962,477
)
 
(3,374,545
)
 
(2,444,071
)
Payments on (proceeds from) revolving credit facilities, net
(4,421,908
)
 
6,230,892

 
5,690,487

Debt issuance costs
(634,036
)
 

 
(514,441
)
Pay-off of old senior credit facility term debt

 

 
(15,375,000
)
Proceeds from exercise of stock options and warrants
38,000

 
37,001

 
115,975

Distribution of cash dividends
(5,861,822
)
 
(5,850,544
)
 
(5,811,858
)
Net cash (used in) provided by financing activities
(4,962,069
)
 
(2,995,174
)
 
14,209,984

Net Decrease in Cash and Cash Equivalents
(21,344
)
 
725,402

 
(21,363
)
Cash and Cash Equivalents – Beginning of period
1,430,937

 
705,535

 
726,898

Cash and Cash Equivalents – End of period
$
1,409,593

 
$
1,430,937

 
$
705,535

Supplemental Disclosure of Cash Flow Information – Cash paid for
  

 
  

 
 
Interest
$
3,575,279

 
$
2,566,956

 
$
1,552,619

Income taxes
$
1,339,290

 
$
2,231,901

 
$
3,750,845

Supplemental Disclosure of Cash Flow Information – 
Non cash investing and financing activities for
  

 
  

 
  

Common stock issued for purchase of Intasco USA, Inc.
$

 
$

 
$
890,726




UNIQUE FABRICATING, INC.
Reconciliation of GAAP Net Income to Adjusted EBITDA
 
Thirteen Weeks Ended December 30, 2018
 
Thirteen Weeks Ended December 31, 2017
 
Thirteen Weeks Ended January 1, 2017
 
Fifty-Two Weeks Ended December 30, 2018
 
Fifty-Two Weeks Ended December 31, 2017
 
Fifty-Two Weeks Ended January 1, 2017
GAAP Net income
$
(191,120
)
 
$
2,056,338

 
$
1,731,098

 
$
3,698,601

 
$
6,486,691

 
$
6,684,120

Plus: Interest expense, net
1,344,968

 
656,848

 
395,733

 
3,778,328

 
2,745,904

 
2,134,796

Plus: Income tax expense
163,139

 
(723,804
)
 
737,230

 
861,969

 
1,132,880

 
3,257,619

Plus: Depreciation and amortization
1,682,647

 
1,616,066

 
1,505,202

 
6,630,142

 
6,319,975

 
5,501,674

Plus: Non-cash stock award
32,681

 
35,122

 
39,743

 
131,302

 
150,368

 
166,476

Plus: Non-recurring integration expenses
71,483

 
126,811

 
68,257

 
199,464

 
157,604

 
173,170

Plus: Non-recurring step-up of inventory basis to fair market value

 

 

 

 

 
318,518

Plus: Transaction fees

 

 
8,118

 
26,717

 
23,235

 
866,806

Plus: Restructuring expenses

 

 

 
1,155,910

 

 
35,054

Plus: One-time consulting and licensing ERP system implementation costs
201,919

 
199,973

 

 
724,175

 
1,015,280

 

Plus: debt extinguishment costs
59,110

 

 

 
59,110

 
 
 

Less: Gain on sale of building
(142,973
)
 

 
(147,414
)
 
(142,973
)
 
 
 
(147,414
)
Adjusted EBITDA
$
3,221,854

 
$
3,967,354

 
$
4,337,967

 
$
17,122,745

 
$
18,031,937

 
$
18,990,819
































UNIQUE FABRICATING, INC.
Reconciliation of GAAP Net Income to Adjusted Diluted Earnings Per Share
 
Thirteen Weeks Ended December 30, 2018
 
Thirteen Weeks Ended December 31, 2017
 
Thirteen Weeks Ended January 1, 2017
 
Fifty-Two Weeks Ended December 30, 2018
 
Fifty-Two Weeks Ended December 31, 2017
 
Fifty-Two Weeks Ended January 1, 2017
GAAP Net income
$
(191,120
)
 
$
2,056,338

 
$
1,731,098

 
$
3,698,601

 
$
6,486,691

 
$
6,684,120

Plus: Non-cash stock award
32,681

 
35,122

 
39,743

 
131,302

 
150,368

 
166,476

Plus: Non-recurring integration expenses
71,483

 
126,811

 
68,257

 
199,464

 
157,604

 
173,170

Plus: Non-recurring step-up of inventory basis to fair market value

 

 

 

 

 
318,518

Plus: Transaction fees

 

 
8,118

 
26,717

 
23,235

 
866,806

Plus: Debt extinguishment costs
59,110

 

 

 
59,110

 

 
60,202

Plus: Restructuring expenses

 

 

 
1,155,910

 

 
35,054

Plus: One-time consulting and licensing ERP system implementation costs
201,919

 
199,973

 

 
724,175

 
1,015,280

 

Less: One-time tax reform adjustments

 
(720,400
)
 

 

 
(720,400
)
 

Less: Gain on sale of building
(142,973
)
 

 
(147,414
)
 
(142,973
)
 

 
(147,414
)
Less: Tax impact

 
9,410

 
9,411

 
(426,384
)
 
(281,356
)
 
(428,091
)
Adjusted Net income
$
31,100

 
$
1,707,254

 
$
1,709,213

 
$
5,425,922

 
$
6,831,422

 
$
7,728,841

 
 
 
 
 
 
 
 
 
 
 
 
Diluted weighted average shares outstanding
9,886,790

 
9,888,059

 
9,927,716

 
9,908,698

 
9,899,418

 
9,896,283

Net income per share
 
 
 
 
 
 
 
 
 
 
 
Diluted - GAAP
$
(0.02
)
 
$
0.21

 
$
0.17

 
$
0.37

 
$
0.66

 
$
0.68

Diluted - Adjusted
$

 
$
0.17

 
$
0.17

 
$
0.55

 
$
0.59

 
$
0.78


























UNIQUE FABRICATING, INC.
Purchase Accounting Impacts and Other Effects
 
Thirteen Weeks Ended December 30, 2018
 
Thirteen Weeks Ended December 31, 2017
 
Thirteen Weeks Ended January 1, 2017
 
Fifty-Two Weeks Ended December 30, 2018
 
Fifty-Two Weeks Ended December 31, 2017
 
Fifty-Two Weeks Ended January 1, 2017
Non-cash purchase accounting impacts
 
 
 
 
 
 
 
 
 
 
 
Customer relationships amortization
$
836,797

 
$
837,250

 
$
837,523

 
$
3,347,187

 
$
3,348,091

 
$
3,045,746

Trade name amortization
72,926

 
72,926

 
72,926

 
291,704

 
291,705

 
269,130

Non-compete amortization
6,183

 
44,162

 
44,162

 
122,392

 
176,648

 
176,648

Unpatented technology
76,529

 
76,529

 
76,529

 
306,116

 
306,116

 
206,040

Less: Tax impact

 
473,831

 
(303,881
)
 
(661,667
)
 
(422,170
)
 
(1,165,626
)
Net income effect
$
992,435

 
$
1,504,698

 
$
727,259

 
$
3,405,732

 
$
3,700,390

 
$
2,531,938

 
 
 
 
 
 
 
 
 
 
 
 
Net income per share impact
 
 
 
 
 
 
 
 
 
 
 
GAAP - Basic
$
0.10

 
$
0.15

 
$
0.07

 
$
0.25

 
$
0.35

 
$
0.26

GAAP - Diluted
$
0.10

 
$
0.15

 
$
0.07

 
$
0.24

 
$
0.34

 
$
0.26



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Definitive Proxy Statement (Form DEF 14A)
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Unique Fabricating, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Unique Fabricating, Inc. provided additional information to their SEC Filing as exhibits

Ticker: UFAB
CIK: 1617669
Form Type: 8-K Corporate News
Accession Number: 0001617669-19-000004
Submitted to the SEC: Thu Mar 07 2019 8:51:36 AM EST
Accepted by the SEC: Thu Mar 07 2019
Period: Thursday, March 7, 2019
Industry: Motor Vehicle Parts And Accessories
Events:
  1. Earnings Release
  2. Financial Exhibit

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