SUPERIOR GROUP OF COMPANIES INC
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
SGC$13.36+5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $9,915 | $5,215 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 9,872 | 10,331 |
| Inventory write-downs | 1,893 | 1,609 |
| Provision for bad debts - accounts receivable | 251 | 64 |
| Share-based compensation expense | 2,905 | 3,523 |
| Change in fair value of acquisition-related contingent liabilities | 363 | (442) |
| Change in fair value of written put options | 653 | (460) |
| Changes in assets and liabilities: | ||
| Accounts receivable | 3,891 | 9,650 |
| Contract assets | (1,671) | 6,208 |
| Inventories | 2,241 | 18,280 |
| Prepaid expenses and other current assets | (1,292) | 3,462 |
| Other assets | (959) | (844) |
| Accounts payable and other current liabilities | (4,292) | 2,148 |
| Payment of acquisition-related contingent liabilities | (686) | (279) |
| Long-term pension liability | 325 | 561 |
| Other long-term liabilities | 1,088 | 362 |
| Net cash provided by operating activities | 24,497 | 59,388 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Additions to property, plant and equipment | (2,911) | (4,023) |
| Net cash used in investing activities | (2,911) | (4,023) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from borrowings of debt | 31,000 | 4,000 |
| Repayment of debt | (40,281) | (51,813) |
| Debt issuance costs | - | (300) |
| Payment of cash dividends | (6,994) | (6,886) |
| Payment of acquisition-related contingent liabilities | (897) | (553) |
| Proceeds received on exercise of stock options | 1,118 | 97 |
| Common shares repurchased and retired | (6,346) | - |
| Net cash used in financing activities | (22,400) | (55,455) |
| Effect of currency exchange rates on cash | (709) | 97 |
| Net increase (decrease) in cash and cash equivalents | (1,523) | 7 |
| Cash and cash equivalents balance, beginning of period | 19,896 | 17,722 |
| Cash and cash equivalents balance, end of period | $18,373 | $17,729 |
See accompanying Notes to the Condensed Consolidated Financial Statements.
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