Company: MCFT
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015130
Chunk: 39

Company: MasterCraft Boat Holdings, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 39
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 2023

    2024

    2023

    Income from continuing operations per diluted share
     
    $
    0.03

    $
    0.51

    $
    0.09

    $
    1.00

    Impact of adjustments:

    Income tax expense

    0.02

    0.16

    0.03

    0.30

    Amortization of acquisition intangibles

    0.03

    0.03

    0.06

    0.05

    Share-based compensation

    0.05

    —

    0.08

    0.06

    CEO transition and organizational realignment costs(a)

    —

    —

    0.03

    0.03

    Adjusted Net Income per diluted share before income taxes

    0.13

    0.70

    0.29

    1.44

    Impact of adjusted income tax expense on net income per diluted share before income taxes(b)

    (0.03
    )

    (0.15
    )

    (0.07
    )

    (0.29
    )

    Adjusted Net Income per diluted share

    0.10

    $
    0.55

    $
    0.22

    $
    1.15

(a)Represents amounts paid for legal fees and recruiting costs associated with the CEO transition, as well as non-recurring severance costs incurred as part of the Company's strategic organizational realignment undertaken in connection with the transition.

(b)For fiscal 2025 and 2024, income tax expense reflects an income tax rate of  20.0% for each period presented.

(c)Represents the Weighted Average Shares used for the computation of Basic and Diluted earnings per share as presented on the Consolidated Statements of Operations to calculate Adjusted Net Income per basic and diluted share for all periods presented herein.

Liquidity and Capital Resources

Our primary liquidity and capital resource needs are to finance working capital, fund capital expenditures, service our debt, fund potential acquisitions, and fund our share repurchase program. Our principal sources of liquidity are our cash balance, available-for-sale securities, cash generated from operating activities, our revolving credit agreement and the refinancing and/or new issuance of long-term debt. We believe our cash balance, available-for-sale