$ALNT

HATHAWAY CORP

CIK:0000046129|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Revenues	$ 153,770	$ 139,578	$ 292,685	$ 272,381
Cost of goods sold	100,178	93,222	193,718	183,273
Gross profit	53,592	46,356	98,967	89,108
Operating costs and expenses:
Selling	7,583	6,026	14,609	12,040
General and administrative	15,941	14,439	31,343	28,252
Engineering and development	10,684	9,944	20,325	19,498
Acquisition and integration-related costs		23		23
Restructuring and business realignment costs	641	1,122	1,503	2,621
Amortization of intangible assets	3,133	3,125	6,256	6,218
Total operating costs and expenses	37,982	34,679	74,036	68,652
Operating income	15,610	11,677	24,931	20,456
Other expense, net:
Interest expense	2,523	3,552	5,076	7,187
Other expense, net	68	823	53	1,507
Total other expense, net	2,591	4,375	5,129	8,694
Income before income taxes	13,019	7,302	19,802	11,762
Income tax provision	(2,628)	(1,685)	(4,054)	(2,588)
Net income	$ 10,391	$ 5,617	$ 15,748	$ 9,174
Basic earnings per share:
Earnings per share	$ 0.62	$ 0.34	$ 0.94	$ 0.55
Basic weighted average common shares	16,798	16,687	16,756	16,639
Diluted earnings per share:
Earnings per share	$ 0.61	$ 0.34	$ 0.93	$ 0.55
Diluted weighted average common shares	16,875	16,713	16,940	16,671
Net income	$ 10,391	$ 5,617	$ 15,748	$ 9,174
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,691)	11,644	(4,517)	15,506
Change in accumulated loss on derivatives, net of tax	25	(410)	171	(1,036)
Comprehensive income	$ 8,725	$ 16,851	$ 11,402	$ 23,644

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net income	$ 15,748	$ 9,174
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	12,401	12,682
Deferred income taxes	407	61
Stock-based compensation expense	1,845	1,755
Debt issue cost amortization recorded in interest expense	325	323
Other	1,848	2,860
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables	(12,206)	(3,594)
Inventories	(11,299)	7,125
Prepaid expenses and other assets	(567)	(459)
Accounts payable	14,431	5,107
Accrued liabilities	(2,806)	3,401
Net cash provided by operating activities	20,127	38,435
Cash Flows From Investing Activities:
Purchase of property and equipment	(7,070)	(3,189)
Net cash used in investing activities	(7,070)	(3,189)
Cash Flows From Financing Activities:
Borrowings on long-term debt	2,000
Principal payments of long-term debt and finance lease obligations	(9,227)	(22,221)
Payment of debt issuance costs		(41)
Dividends paid to stockholders	(1,174)	(1,000)
Tax withholdings related to net share settlements of restricted stock	(2,701)	(1,024)
Net cash used in financing activities	(11,102)	(24,286)
Effect of foreign exchange rate changes on cash	(572)	2,853
Net increase in cash and cash equivalents	1,383	13,813
Cash and cash equivalents at beginning of period	40,705	36,102
Cash and cash equivalents at end of period	42,088	49,915
Supplemental disclosure of cash flow information:
Property, plant and equipment purchases in accounts payable or accrued expenses	467	203
Cash paid for interest	4,932	7,048
Cash paid for income taxes	$ 6,424	$ 5,094

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 42,088	$ 40,705
Trade receivables, net of provision for credit losses of $953 and $887 at June 30, 2026 and December 31, 2025, respectively	99,825	88,775
Inventories	117,908	109,198
Prepaid expenses and other assets	14,629	14,759
Total current assets	274,450	253,437
Property, plant, and equipment, net	62,347	61,771
Deferred income taxes	9,940	10,509
Intangible assets, net	81,475	88,391
Goodwill	133,169	134,332
Operating lease assets	23,598	21,030
Other long-term assets	8,942	8,125
Total Assets	593,921	577,595
Current liabilities:
Accounts payable	42,574	28,433
Accrued liabilities	37,608	40,890
Total current liabilities	80,182	69,323
Long-term debt	173,337	180,389
Deferred income taxes	2,985	3,241
Operating lease liabilities	18,316	16,431
Other long-term liabilities	6,807	6,756
Total liabilities	281,627	276,140
Stockholders' Equity:
Common stock, no par value, authorized 50,000 shares; 16,992 and 16,936 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	114,547	113,936
Preferred stock, par value $1.00 per share, authorized 5,000 shares; no shares issued or outstanding
Retained earnings	211,620	197,046
Accumulated other comprehensive loss	(13,873)	(9,527)
Total stockholders' equity	312,294	301,455
Total Liabilities and Stockholders' Equity	$ 593,921	$ 577,595