MTS Reports Fiscal 2019 Second Quarter Financial Results

 

 

 MTS SYSTEMS CORPORATION

 Condensed Consolidated Balance Sheets

 (unaudited - in thousands)

       
 

March 30,
 2019

 

September 29,
 2018

 ASSETS

     
       

 Current assets

     

 Cash and cash equivalents

$

74,122

   

$

71,804

 

 Accounts receivable, net

117,349

   

122,243

 

 Unbilled accounts receivable, net

71,175

   

70,474

 

 Inventories, net

179,071

   

139,109

 

 Other current assets

32,307

   

24,572

 

 Total current assets

474,024

   

428,202

 
       

 Property and equipment, net

88,126

   

90,269

 
       

 Goodwill

403,425

   

369,275

 

 Intangible assets, net

287,101

   

246,138

 

 Other long-term assets

7,958

   

5,512

 

 Total assets

$

1,260,634

   

$

1,139,396

 
       

 LIABILITIES AND SHAREHOLDERS' EQUITY

     
       

 Current liabilities

     

 Current maturities of long-term debt, net

$

28,076

   

$

32,738

 

 Accounts payable

39,941

   

47,886

 

 Advance payments from customers

102,033

   

80,131

 

 Other accrued liabilities

89,453

   

78,358

 

 Total current liabilities

259,503

   

239,113

 
       

 Long-term debt, less current maturities, net

436,344

   

355,640

 

 Other long-term liabilities

79,733

   

66,711

 

 Total liabilities

775,580

   

661,464

 
       

 Shareholders' equity

     

 Common stock, $0.25 par; 64,000 shares authorized:

     

17,900 and 17,856 shares issued and outstanding as

     

of March 30, 2019 and September 29, 2018, respectively

4,475

   

4,464

 

 Additional paid-in capital

176,918

   

171,407

 

 Retained earnings

308,279

   

300,585

 

 Accumulated other comprehensive income (loss)

(4,618)

   

1,476

 

 Total shareholders' equity

485,054

   

477,932

 

 Total liabilities and shareholders' equity

$

1,260,634

   

$

1,139,396

 

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