MILLER INDUSTRIES INC TN
For the period ended Mar 31, 2024. Filed May 8, 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.
Mar 31, 2024 · Filed May 8, 2024
MLR$48.10-1.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
| | | | | | |
|---|---|---|---|---|---|
| | Three Months Ended March 31, | ||||
| (in thousands) · 2024 · 2023 | |||||
| Cash flows from operating activities: · · | |||||
| Net income | $17,023 | | $9,220 | ||
| Adjustments to reconcile net income to net cash flows from operating activities: | | ||||
| Depreciation and amortization | 3,506 | | 3,148 | ||
| (Gain) Loss on disposal of property, plant and equipment | (7) | | — | ||
| Provision for credit losses | 52 | | 45 | ||
| Issuance of common stock, net of shares withheld for employee taxes | (214) | | 61 | ||
| Stock-based compensation | | 383 | | | 223 |
| Deferred tax provision | 37 | | (66) | ||
| Changes in operating assets and liabilities: | | | |||
| Accounts receivable | (52,972) | | (55,235) | ||
| Inventories | 5,003 | | (10,320) | ||
| Prepaid expenses | (4,230) | | (2,193) | ||
| Other assets | 116 | | 88 | ||
| Accounts payable | 37,588 | | 44,003 | ||
| Accrued liabilities | 2,738 | | 1,895 | ||
| Income taxes payable | (46) | | 2,367 | ||
| Net cash flows provided by (used in) operating activities | 8,977 | | (6,764) | ||
| Cash flows from investing activities: | | ||||
| Purchases of property, plant and equipment | (4,672) | | (1,749) | ||
| Proceeds from sale of property, plant and equipment | 9 | | — | ||
| Net cash flows provided by (used in) investing activities | (4,663) | | (1,749) | ||
| Cash flows from financing activities: | | ||||
| Payments on credit facility | (5,000) | | — | ||
| Payments of cash dividends | (2,179) | | (2,059) | ||
| Net cash flows provided by (used in) financing activities | (7,179) | | (2,059) | ||
| Effect of exchange rate changes on cash and temporary investments | (235) | | 139 | ||
| Net change in cash and temporary investments | (3,100) | | (10,433) | ||
| Cash and temporary investments, beginning of period | 29,909 | | 40,153 | ||
| Cash and temporary investments, end of period | $26,809 | | $29,720 | ||
| Supplemental information: | | ||||
| Cash payments for interest | $1,003 | | $1,493 | ||
| Cash payments for income taxes, net of refunds | $277 | | $495 | ||
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| 8 | Q1 FY 2024 FORM 10-Q | |
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| FINANCIAL STATEMENTS | NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
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