Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our Common Stock is currently quoted on the NASDAQ Global Market under the symbol “BLBD”. At December 14, 2020 , there were 82 holders of record of the Company’s Common Stock. Management of the Company believes that there are in excess of 3,000 beneficial holders of our Common Stock.
Dividends
We have not paid any dividends on our Common Stock to date. It is our present intention to retain any earnings for use in our business operations and, accordingly we do not anticipate that the board of directors will declare any dividends in the foreseeable future on our Common Stock. In addition, certain of our loan agreements restrict the payment of dividends.
Securities Authorized for Issuance Under Equity Compensation Plans
The following table provides information for all equity compensation plans at October 3, 2020 , under which the equity securities of the Company were authorized for issuance:
Plan Category (1)
(a) Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, and Rights
(b) Weighted Average Exercise Price of Outstanding Options, Warrants and Rights
(c) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding
securities
reflected in
column (a))
Equity compensation plans approved by security holders
316,859
$
16.69
1,820,792
(1) There are no equity compensation plans not approved by stockholders.
24
Item 6. Selected Financial Data
The Company reports its operations on a 52-53 week fiscal year ending on the Saturday closest to September 30. There were 53 weeks in the fiscal year ended October 3, 2020, all other years presented below had 52 weeks. The following table sets forth selected consolidated financial data of the Company taking into account completion of the Business Combination and the subsequent change of the Company’s fiscal year to the historic fiscal year of School Bus Holdings for each of its five most recent fiscal years, which have been derived from the consolidated financial statements of the Company. See Notes 1 and 2 to the consolidated financial statements for further explanation regarding Basis of Presentation and impact of Recently Adopted Accounting Standards.
The historical results presented below are not necessarily indicative of the results to be expected for any future period. This selected consolidated financial data should be read in conjunction with Item 1A. “Risk Factors”, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, and the consolidated financial statements and the notes thereto included in Item 8. "Financial Statements".
in thousands, except per share data
Fiscal Year
2020
2019
2018
2017
2016
RESULTS OF OPERATIONS DATA
Net sales
$
879,221
$
1,018,874
$
1,024,976
$
990,602
$
932,010
Cost of goods sold
783,021
885,400
902,988
863,234
802,654
Gross profit
96,200
133,474
121,988
127,368
129,356
Operating expenses
Selling, general and administrative expenses
74,206
89,642
86,911
67,836
98,393
Operating profit
21,994
43,832
35,077
59,532
30,963
Interest expense
(12,252
)
(12,879
)
(6,661
)
(7,251
)
(16,412
)
Interest income
11
9
70
140
133
Other income (expense), net
738
(1,331
)
(1,613
)
(4,929
)
(4,857
)
Loss on debt extinguishment
—
—
—
(10,142
)
—
Income before income taxes
10,491
29,631
26,873
37,350
9,827
Income tax (expense) benefit
(1,519
)
(7,573
)
2,620
(11,856
)
(5,804
)
Equity in net income of non-consolidated affiliate
3,213
2,242
1,327
3,307
2,877
Net income
12,185
24,300
30,820
28,801
6,900
Less: preferred stock dividends
—
—
1,896
4,261
3,878
Less: preferred stock repurchase
—
—
—
6,091
—
Net income available to common stockholders
$
12,185
$
24,300
$
28,924
$
18,449
$
3,022
EARNINGS PER SHARE DATA
Basic earnings per share
$
0.45
$
0.92
$
1.15
$
0.79
$
0.14
Diluted earnings per share
0.45
0.90
1.08
0.74
0.14
BALANCE SHEET DATA
Total assets
$
317,415
$
365,413
$
307,430
$
295,816
$
277,866
Long-term debt
164,204
173,226
132,239
143,224
140,366
Total liabilities
370,645
433,224
335,766
354,326
364,840
Total stockholders' deficit
(53,230
)
(67,811
)
(28,336
)
(58,510
)
(86,974
)
25