Financial News
Cambridge-Lee Holdings Consolidated Results of Operations for Q4 2024
Cambridge-Lee Holdings, Inc. has announced its unaudited consolidated results for the fourth quarter of 2024.
| 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, 2024 and December 31, 2023 | ||||||||
| Figures in US Dollars | 12/31/2023 | 12/31/2024 | ||||||
| Assets | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ |
217,598,000 |
|
|
298,409,000 |
|
||
| Accounts Receivable - Net |
|
75,842,000 |
|
|
78,187,000 |
|
||
| Accounts Receivable - Affiliates |
|
3,254,000 |
|
|
9,353,000 |
|
||
| Accounts Receivable - Refundable Income Tax |
|
3,204,000 |
|
|
951,000 |
|
||
| Other Receivables |
|
18,000 |
|
|
250,000 |
|
||
| Inventories — net |
|
81,577,000 |
|
|
103,707,000 |
|
||
| Other current assets |
|
5,416,000 |
|
|
6,704,000 |
|
||
| Deferred income taxes |
|
0 |
|
|
0 |
|
||
| Total current assets |
|
386,909,000 |
|
|
497,561,000 |
|
||
| Property, Plant, and Equipment — Net |
|
49,438,000 |
|
|
50,069,000 |
|
||
| ROU Asset |
|
4,680,000 |
|
|
4,250,000 |
|
||
| Deferred Financing Fees — Net |
|
169,000 |
|
|
117,000 |
|
||
| Other Long-Term Assets |
|
11,839,000 |
|
|
13,221,000 |
|
||
| Deferred Income Taxes-Long Term | ||||||||
| Total | $ |
453,035,000 |
|
$ |
565,218,000 |
|
||
| Liabilities and Shareholders' Equity | ||||||||
| Current Liabilities: | ||||||||
| Current portion of long-term debt |
|
2,371,000 |
|
|
2,327,000 |
|
||
| Revolving credit facility | ||||||||
| Lease Liability - S. T. |
|
1,158,000 |
|
|
1,180,000 |
|
||
| Trade Accounts Payable |
|
26,063,000 |
|
|
28,456,000 |
|
||
| Affiliates Payable |
|
173,000 |
|
|
1,277,000 |
|
||
| Accrued expenses and taxes other than income tax |
|
14,681,000 |
|
|
13,693,000 |
|
||
| Income taxes payable |
|
1,238,000 |
|
|||||
| Total current liabilities |
|
44,446,000 |
|
|
48,171,000 |
|
||
| Long-Term Debt |
|
2,336,000 |
|
|
9,000 |
|
||
| Long-Term Obligations — Other |
|
1,075,000 |
|
|
1,004,000 |
|
||
| Deferred Revenue |
|
404,000 |
|
|
429,000 |
|
||
| Lease Liability - L. T. |
|
3,576,000 |
|
|
3,125,000 |
|
||
| Deferred Income Taxes |
|
3,264,000 |
|
|
2,171,000 |
|
||
| Total liabilities |
|
55,101,000 |
|
|
54,909,000 |
|
||
| 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 |
|
380,343,000 |
|
|
488,801,000 |
|
||
| Accumulated other comprehensive income (loss) |
|
(713,000 |
) |
|
(156,000 |
) |
||
| Noncontrolling owner’s interest |
|
11,612,000 |
|
|
14,972,000 |
|
||
| Total shareholders' equity |
|
397,934,000 |
|
|
510,309,000 |
|
||
| TOTAL | $ |
453,035,000 |
|
$ |
565,218,000 |
|
||
| 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, 2024 and December 31, 2023 | |||||||
| Figures in US Dollars | 12/31/2023 | 12/31/2024 | |||||
| Revenues: | |||||||
| Net Sales | $ |
744,736,000 |
|
$ |
794,805,000 |
||
| Cost of Sales |
|
524,301,000 |
|
|
567,418,000 |
||
| Gross Income |
|
220,435,000 |
|
|
227,387,000 |
||
| Selling, General and Administrative Expenses |
|
43,163,000 |
|
|
44,506,000 |
||
| Operating Income |
|
177,272,000 |
|
|
182,881,000 |
||
| Other Expense: | |||||||
| Interest — net |
|
5,680,000 |
|
|
8,808,000 |
||
| Other — net |
|
(524,000 |
) |
|
2,530,000 |
||
| Total Other Expense |
|
5,156,000 |
|
|
11,338,000 |
||
| Income (Loss) From Continuing Operations Before Provision for Income Taxes |
|
182,428,000 |
|
|
194,219,000 |
||
| Provision (benefit) for Income Taxes |
|
45,324,000 |
|
|
47,418,000 |
||
| Net Income Gain (Loss) from Continuing Operations |
|
137,105,000 |
|
|
146,801,000 |
||
| COMPREHENSIVE (LOSS) INCOME—Pension unrecognized |
|
186,000 |
|
|
575,000 |
||
| (loss) gain adjustment—net of tax expense of $189,000 and $61,000 | |||||||
| for 2024 and 2023, respectively | |||||||
| Net Income (Loss) |
|
137,291,000 |
|
|
147,376,000 |
||
| Net Income Attributable to Noncontrolling Interest |
|
4,099,000 |
|
|
4,389,000 |
||
| Net Income Attributable to Cambridge-Lee Holdings, Inc. |
|
133,192,000 |
|
|
142,988,000 |
||
| CAMBRIDGE-LEE HOLDINGS, INC | |||
| STATEMENT OF CASH FLOW | |||
| Figures in US Dollars | |||
| December 31, 2024 | |||
| OPERATING ACTIVITIES: | |||
| Net income (loss) | 146,801,000 |
|
|
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 7,239,000 |
|
|
| Allowance for (benefit from) doubtful accounts receivable | (119,000 |
) |
|
| Net periodic pension (benefit) cost | 574,000 |
|
|
| Changes in assets and liabilities which provided (used) cash: | |||
| (Increase) decrease in accounts and notes receivable | (9,651,000 |
) |
|
| (Increase) decrease in inventories | (22,130,000 |
) |
|
| (Increase) decrease in prepaid expenses, deposits and other assets | (2,693,000 |
) |
|
| Increase (decrease) in other long term obligations | (71,000 |
) |
|
| Increase (decrease) in accnts payable, accrued exps & amounts due to affiliates | 2,534,000 |
|
|
| Change in operating lease liabilities | 1,000 |
|
|
| Increase (decrease) in income taxes payable | 3,491,000 |
|
|
| Increase (decrease) in assets from dispositions | |||
| Total adjustments | (20,825,000 |
) |
|
| net cash provided by (used in) operating activities | 125,976,000 |
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment | (7,846,000 |
) |
|
| Net cash provided by (used in) investing activities | (7,846,000 |
) |
|
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from long term debt | (2,371,000 |
) |
|
| Payment of debt issuance costs | 52,000 |
|
|
| Cash payment of dividends | (35,000,000 |
) |
|
| Net cash provided by (used in) financing activities | (37,319,000 |
) |
|
| EFFECT OF EXCHANGE RATE CHANGES ON CASH | |||
| Net increase in cash and cash equivalents | 80,811,000 |
|
|
| Cash and cash equivalents at beginning of period | 217,598,000 |
|
|
| Cash and cash equivalents at end of period | 298,409,000 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250319982528/en/
Contacts
Francisco Rodriguez
frodriguez@iusa.com.mx
Tel 5255 5118 1500
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