| Schedule of assets and profit/loss of the segments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
325,707 |
|
$ |
252,838 |
|
$ |
293,630 |
|
Work Truck Solutions |
|
215,746 |
|
|
227,316 |
|
|
278,080 |
|
|
$ |
541,453 |
|
$ |
480,154 |
|
$ |
571,710 |
|
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
77,369 |
|
$ |
62,532 |
|
$ |
80,747 |
|
Work Truck Solutions |
|
2,167 |
|
|
12,360 |
|
|
27,358 |
|
|
$ |
79,536 |
|
$ |
74,892 |
|
$ |
108,105 |
|
Depreciation and amortization expense |
|
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
11,937 |
|
$ |
10,824 |
|
$ |
10,217 |
|
Work Truck Solutions |
|
8,379 |
|
|
8,913 |
|
|
8,995 |
|
|
$ |
20,316 |
|
$ |
19,737 |
|
$ |
19,212 |
|
Assets |
|
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
384,566 |
|
$ |
365,210 |
|
$ |
361,876 |
|
Work Truck Solutions |
|
187,910 |
|
|
213,992 |
|
|
343,819 |
|
|
$ |
572,476 |
|
$ |
579,202 |
|
$ |
705,695 |
|
Capital expenditures |
|
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
10,434 |
|
$ |
13,174 |
|
$ |
9,417 |
|
Work Truck Solutions |
|
1,447 |
|
|
1,508 |
|
|
2,246 |
|
|
$ |
11,881 |
|
$ |
14,682 |
|
$ |
11,663 |
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
|
|
|
|
|
|
Work Truck Attachments |
$ |
77,369 |
|
$ |
62,532 |
|
$ |
80,747 |
Work Truck Solutions |
|
2,167 |
|
|
12,360 |
|
|
27,358 |
Total Adjusted EBITDA |
$ |
79,536 |
|
$ |
74,892 |
|
$ |
108,105 |
Less items to reconcile Adjusted EBITDA to Income (Loss) before taxes: |
|
|
|
|
|
|
|
|
Interest expense - net |
|
11,839 |
|
|
20,238 |
|
|
16,782 |
Depreciation expense |
|
9,634 |
|
|
8,806 |
|
|
8,256 |
Amortization |
|
10,682 |
|
|
10,931 |
|
|
10,956 |
Purchase accounting (1) |
|
- |
|
|
(2,017) |
|
|
(417) |
Stock based compensation |
|
5,794 |
|
|
2,830 |
|
|
3,239 |
Impairment charges |
|
1,211 |
|
|
127,872 |
|
|
- |
Debt modification expense |
|
- |
|
|
3,542 |
|
|
- |
Loss on extinguishment of debt |
|
4,936 |
|
|
- |
|
|
- |
Litigation proceeds |
|
- |
|
|
- |
|
|
(200) |
Pension termination |
|
- |
|
|
- |
|
|
6,609 |
COVID-19 (2) |
|
82 |
|
|
1,391 |
|
|
- |
Other charges (3) |
|
770 |
|
|
128 |
|
|
263 |
Income (Loss) before taxes |
$ |
34,588 |
|
$ |
(98,829) |
|
$ |
62,617 |
|