15 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: On August 27, 2020, our Board of Directors authorized a stock repurchase program to allow for the repurchase of up to $50.0 million of our Class A Common Stock and the LLC's LLC Units (the “ Repurchase Program”) for the period from
−Removed: September 2, 2020 to July 1, 2021.
−Removed: During the fiscal year ended June 30, 2021, no shares have been repurchased under the Repurchase Program.
−Removed: This repurchase program expired on July 1, 2021.
+Added: On November 3, 2021, our Board of Directors authorized a stock repurchase program to allow for the repurchase of up to $70.0 million of our Class A Common Stock and the LLC's LLC Units (the “ Repurchase Program”) for the period from November 8, 2021 to November 8, 2022.
+Added: During the fiscal year ended June 30, 2022, we repurchased 554,995 shares of Class
+Added: A Common Stock for $34.6 million in cash including related fees and expenses.
+Added: As of June 30, 2022, $35.4 million was available to repurchase shares of Class A Common Stock and LLC Units under the Repurchase Program.
+Added: During the three months ended June 30, 2022, we repurchased 79,852 shares of Class A Common Stock for $4.4 million in cash including related fees and expenses.
+Added: The Repurchase Program expires on November 8, 2022.
+Added: This table provides information with respect to purchases by us of shares of our Class A Common Stock under our Repurchase Program during the quarter ended June 30, 2022 (in thousands except share and per share data).
+Added: Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan (1)
+Added: April 1, 2022 through April 30, 2022 — $ — 475,143 $ 39,790
+Added: May 1, 2022 through May 31, 2022 79,852 55.50 554,995 35,359
+Added: June 1, 2022 through June 30, 2022 — — 554,995 35,359
+Added: Total 79,852 $ 55.50 554,995 $ 35,359
Unregistered Sales of Equity Securities
−Removed: On April 16, 2021, in connection with the exchange of limited liability company interests of the LLC by a member of the LLC, the Company issued a total of 3,000 shares of its Class A Common Stock, par value $0.01 per share for nominal consideration to such member in reliance on the exemption under Section 4(a)(2) of the Securities Act.
+Added: Not Applicable.
Equity Compensation Plan Information
Equity compensation plan information required by this Item 5 will be included in our definitive proxy statement for our annual meeting of stockholders, which will be filed with the SEC no later than 120 days after the end of our fiscal year ended June 30, 2022 (the "Proxy Statement"), and is incorporated herein by reference.
−Removed: Selected Financial Data
−Removed: The following table presents our selected financial data.
−Removed: The table should be read in conjunction with "Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations," and "Item 8.
−Removed: Financial Statements and Supplementary Data," of this Annual Report on Form 10-K.
−Removed: Fiscal Year Ended June 30,
−Removed: 2021 2020 2019 2018 2017
−Removed: (Dollars in thousands)
−Removed: Consolidated statement of operations and comprehensive income data:
−Removed: Net sales $ 926,515 $ 653,163 $ 684,016 $ 497,002 $ 281,937
−Removed: Cost of sales 690,030 503,893 517,746 376,660 206,899
−Removed: Gross profit 236,485 149,270 166,270 120,342 75,038
−Removed: Operating expenses:
−Removed: Selling and marketing 17,540 17,917 17,946 13,718 8,619
−Removed: General and administrative 61,915 39,912 44,256 31,359 24,783
−Removed: Amortization 7,255 6,131 5,956 5,198 2,198
−Removed: Operating income 149,775 85,310 98,112 70,067 39,438
−Removed: Other expense (income), net 1,514 1,578 6,315 (19,320) (9,230)
−Removed: Net income before income tax expense 148,261 83,732 91,797 89,387 48,668
−Removed: Income tax expense 33,979 19,076 22,096 58,418 17,593
−Removed: Net income 114,282 64,656 69,701 30,969 31,075
−Removed: Net income attributable to non-controlling interest 1
−Removed: 4,441 3,094 3,635 3,356 2,717
−Removed: Net income attributable to Malibu Boats, Inc.
−Removed: $ 109,841 $ 61,562 $ 66,066 $ 27,613 $ 28,358
−Removed: Net income available to Class A Common Stock per share:
−Removed: Basic $ 5.29 $ 2.98 $ 3.17 $ 1.37 $ 1.59
−Removed: Diluted $ 5.23 $ 2.95 $ 3.15 $ 1.36 $ 1.58
−Removed: Weighted average shares outstanding used in computing net income per share:
−Removed: Basic 20,752,652 20,662,750 20,832,445 20,179,381 17,846,894
−Removed: Diluted 21,011,087 20,852,361 20,966,539 20,281,210 17,951,332
−Removed: Consolidated balance sheet data:
−Removed: Total assets $ 742,784 $ 477,346 $ 451,314 $ 365,768 $ 223,663
−Removed: Total current liabilities 134,403 70,163 75,332 65,386 39,185
−Removed: Total long-term liabilities 227,227 145,656 165,629 160,511 132,242
−Removed: Total stockholders' equity 381,154 261,527 210,353 139,871 52,236
−Removed: Additional financial and other data:
−Removed: Unit volume 8,185 6,444 7,362 6,292 3,815
−Removed: Gross margin 25.5 % 22.8 % 24.3 % 24.2 % 26.6 %
−Removed: Adjusted EBITDA 2
−Removed: $ 190,103 $ 110,947 $ 125,895 $ 92,718 $ 55,721
−Removed: Net income margin 12.3 % 9.9 % 10.2 % 6.2 % 11.0 %
−Removed: Adjusted EBITDA margin 2
−Removed: 20.5 % 17.0 % 18.4 % 18.7 % 19.8 %
−Removed: Adjusted fully distributed net income per share 2
−Removed: $ 6.01 $ 3.29 $ 3.76 $ 2.60 $ 1.56
−Removed: (1) The non-controlling interest represents the portion of earnings or (loss) attributable to the economic interest held by the non-controlling LLC Unit holders.
−Removed: The weighted average non-controlling interest attributable to ownership interests in the LLC was 3.1%, 3.8%, 4.1%, 5.3%, and 7.0% for the fiscal years ended June 30, 2021, 2020, 2019, 2018, and 2017, respectively.
−Removed: The non-controlling interest was 2.8%, 3.4%, 3.8%, 4.8% and 6.6% as of June 30, 2021, 2020, 2019, 2018, and 2017, respectively.
−Removed: (2) Adjusted EBITDA, adjusted EBITDA margin, and adjusted fully distributed net income per share are non-GAAP financial measures.
−Removed: For definitions of adjusted EBITDA, adjusted EBITDA margin, and adjusted fully distributed net income and a reconciliation of each measure to net income for the fiscal years ended June 30, 2021, 2020, and 2019, see “Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations-GAAP Reconciliation of Non-GAAP Financial Measures.” For a reconciliation of each measure to net income for the fiscal years ended June 30, 2018 and 2017, see “Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations-GAAP Reconciliation of Non-GAAP Financial Measures” in our Annual Report on Form 10-K for the fiscal year ended June 30, 2019.
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