廣告
香港股市 將收市,收市時間:16 分鐘
  • 恒指

    17,950.32
    +8.54 (+0.05%)
     
  • 國指

    6,376.12
    +1.46 (+0.02%)
     
  • 上證綜指

    3,015.89
    -16.74 (-0.55%)
     
  • 滬深300

    3,536.20
    -5.33 (-0.15%)
     
  • 美元

    7.8101
    -0.0003 (-0.00%)
     
  • 人民幣

    0.9286
    +0.0002 (+0.02%)
     
  • 道指

    38,589.16
    -57.94 (-0.15%)
     
  • 標普 500

    5,431.60
    -2.14 (-0.04%)
     
  • 納指

    17,688.88
    +21.28 (+0.12%)
     
  • 日圓

    0.0494
    -0.0000 (-0.08%)
     
  • 歐元

    8.3548
    -0.0063 (-0.08%)
     
  • 英鎊

    9.8910
    -0.0150 (-0.15%)
     
  • 紐約期油

    78.43
    -0.02 (-0.03%)
     
  • 金價

    2,330.70
    -18.40 (-0.78%)
     
  • Bitcoin

    66,245.46
    +11.13 (+0.02%)
     
  • CMC Crypto 200

    1,387.75
    -0.41 (-0.03%)
     

Cambridge-Lee Holdings Consolidated Results of Operations for FY 2023

READING, Pa., May 03, 2024--(BUSINESS WIRE)--Cambridge-Lee Holdings, Inc, has announced its audited consolidated results for the fiscal year 2023.

CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES

(A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.)

CONSOLIDATED BALANCE SHEETS

As of December 31, 2023 and December 31, 2022

Figures in US Dollars

12/31/2022

12/31/2023

Assets

Current Assets:

Cash and cash equivalents

93,837,000

$

217,598,000

Accounts Receivable - Net

80,397,000

75,842,000

Accounts Receivable - Affiliates

2,089,000

3,254,000

Accounts Receivable - Refundable Income Tax

6,438,000

3,204,000

Other Receivables

58,000

18,000

Inventories — net

100,851,000

81,577,000

Other current assets

6,330,000

5,416,000

Deferred income taxes

0

0

Total current assets

290,000,000

386,909,000

Property, Plant, and Equipment — Net

47,098,000

49,438,000

ROU Asset

3,847,000

4,680,000

Deferred Financing Fees — Net

222,000

169,000

Other Long-Term Assets

10,807,000

11,839,000

Total

$

351,974,000

$

453,035,000

Liabilities and Shareholders' Equity

Current Liabilities:

Current portion of long-term debt

2,367,000

2,371,000

Lease Liability - S. T.

1,233,000

1,158,000

Trade Accounts Payable

31,412,000

26,063,000

Affiliates Payable

65,000

173,000

Accrued expenses and taxes other than income tax

14,761,000

14,681,000

Total current liabilities

49,838,000

44,446,000

Long-Term Debt

4,706,000

2,336,000

Long-Term Obligations — Other

713,000

1,075,000

Deferred Revenue

428,000

404,000

Lease Liability - L. T.

2,666,000

3,576,000

Deferred Income Taxes

2,980,000

3,264,000

Total liabilities

61,331,000

55,101,000

SHAREHOLDERS’ EQUITY:

Common stock, no par — authorized, 1,500 shares;

issued and outstanding, 1,000 shares

1,000

1,000

Additional paid-in capital

24,205,000

24,205,000

Investment in Parent

Excess of liabilities assumed over book value

of assets transferred

(17,514,000

)

(17,514,000

)

Retained earnings

276,440,000

380,343,000

Accumulated other comprehensive income (loss)

(893,000

)

(713,000

)

Noncontrolling owner’s interest

8,404,000

11,612,000

Total shareholders' equity

290,643,000

397,934,000

TOTAL

$

351,974,000

$

453,035,000

CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES

(A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.)

CONSOLIDATED STATEMENTS OF OPERATIONS

As of December 31, 2023 and December 31, 2022

Figures in US Dollars

12/31/2022

12/31/2023

Revenues:

Net Sales

$

825,660,000

$

744,736,000

Cost of Sales

589,209,000

524,301,000

Gross Income

236,451,000

220,435,000

Selling, General and Administrative Expenses

43,915,000

43,163,000

Operating Income

192,536,000

177,272,000

Other Expense:

Interest — net

46,000

5,680,000

Other — net

(162,000

)

(524,000

)

Total Other Expense

(116,000

)

5,156,000

Income (Loss) From Continuing Operations Before Provision for Income Taxes

192,420,000

182,428,000

Provision (benefit) for Income Taxes

46,474,000

45,324,000

Net Income Gain (Loss) from Continuing Operations

145,946,000

137,105,000

COMPREHENSIVE (LOSS) INCOME—Pension unrecognized

(324,000

)

186,000

(loss) gain adjustment—net of tax expense of $61,000 and

tax (benefit) of $106,000 for 2023 and 2022, respectively

Net Income (Loss)

145,622,000

137,291,000

Net Income Attributable to Noncontrolling Interest

4,364,000

4,099,000

Net Income Attributable to Cambridge-Lee Holdings, Inc.

141,259,000

133,192,000

CAMBRIDGE-LEE HOLDINGS, INC

STATEMENT OF CASH FLOW

Figures in US Dollars

December 31, 2023

OPERATING ACTIVITIES:

Net income (loss)

137,105,000

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Noncontrolling interest

Depreciation and amortization

6,716,000

Allowance for (benefit from) doubtful accounts receivable

(92,000

)

Net periodic pension (benefit) cost

(28,000

)

(Gain) loss on sale of property, plant and equipment

630,000

Amortization of ROU operating leases

1,319,000

Increase (decrease) in deferred income taxes

285,000

Changes in assets and liabilities which provided (used) cash:

(Increase) decrease in accounts and notes receivable

3,522,000

(Increase) decrease in inventories

19,274,000

(Increase) decrease in prepaid expenses, deposits and other assets

72,000

Increase (decrease) in other long term obligations

339,000

Increase (decrease) in accnts payable, accrued exps & amounts due to affiliates

(5,390,000

)

Change in operating lease liabilities

(1,321,000

)

Increase (decrease) in income taxes payable

3,279,000

Total adjustments

28,605,000

net cash provided by (used in) operating activities

165,710,000

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of property, plant and equipment

(9,598,000

)

Proceeds from sale of property, plant and equipment

15,000

disposal

Net cash provided by (used in) investing activities

(9,583,000

)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on long-term debt

(2,286,000

)

Payment under capital lease obligations

(81,000

)

Cash payment of dividends

(30,000,000

)

Net cash provided by (used in) financing activities

(32,367,000

)

EFFECT OF EXCHANGE RATE CHANGES ON CASH

Net increase in cash and cash equivalents

123,760,000

Cash and cash equivalents at beginning of period

93,837,000

Cash and cash equivalents at end of period

217,597,000

View source version on businesswire.com: https://www.businesswire.com/news/home/20240502387010/en/

Contacts

Francisco Rodriguez
frodriguez@iusa.com.mm
Tel. 5255 52618800