Cambridge-Lee Holdings, Inc, has announced its unaudited consolidated results for the second 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 June 30, 2024 and June 30, 2023   Figures in US Dollars 12/31/2023 6/30/2023 6/30/2024 Assets Current Assets: Cash and cash equivalents

$

217,598,000

 

 

139,052,000

 

$

213,343,000

 

Accounts Receivable - Net

 

75,842,000

 

 

94,123,000

 

 

118,045,000

 

Accounts Receivable - Affiliates

 

3,254,000

 

 

1,358,000

 

 

10,591,000

 

Accounts Receivable - Refundable Income Tax

 

3,204,000

 

 

6,438,000

 

 

3,204,000

 

Other Receivables

 

18,000

 

 

44,000

 

 

301,000

 

Inventories — net

 

81,577,000

 

 

92,885,000

 

 

102,363,000

 

Other current assets

 

5,416,000

 

 

13,012,000

 

 

17,015,000

 

Total current assets

 

386,909,000

 

 

346,912,000

 

 

464,862,000

 

  Restricted Cash   Property, Plant, and Equipment — Net

 

49,438,000

 

 

50,047,000

 

 

49,320,000

 

  ROU Asset

 

4,680,000

 

 

3,728,000

 

 

4,636,000

 

  Deferred Financing Fees — Net

 

169,000

 

 

195,000

 

 

143,000

 

  Other Long-Term Assets

 

11,839,000

 

 

337,000

 

 

449,000

 

Total

$

453,035,000

 

$

401,219,000

 

$

519,410,000

 

  Liabilities and Shareholders' Equity Current Liabilities: Current portion of long-term debt

 

2,371,000

 

 

2,369,000

 

 

2,355,000

 

Revolving credit facility Lease Liability - S. T.

 

1,158,000

 

 

1,127,000

 

 

1,246,000

 

Trade Accounts Payable

 

26,063,000

 

 

21,345,000

 

 

29,451,000

 

Affiliates Payable

 

173,000

 

 

371,000

 

 

3,592,000

 

Accrued expenses and taxes other than income tax

 

14,681,000

 

 

14,546,000

 

 

16,103,000

 

Income taxes payable

 

0

 

 

5,471,000

 

 

5,556,000

 

Total current liabilities

 

44,446,000

 

 

45,229,000

 

 

58,303,000

 

  Long-Term Debt

 

2,336,000

 

 

3,521,000

 

 

1,167,000

 

Long-Term Obligations — Other

 

1,075,000

 

 

(645,000

)

 

(919,000

)

Deferred Revenue

 

404,000

 

Lease Liability - L. T.

 

3,576,000

 

 

2,655,000

 

 

3,448,000

 

Deferred Income Taxes

 

3,264,000

 

 

2,980,000

 

 

3,265,000

 

Total liabilities

 

55,101,000

 

 

53,740,000

 

 

65,264,000

 

  SHAREHOLDERS’ EQUITY: Common stock, no par — authorized, 1,500 shares; issued and outstanding, 1,000 shares

 

1,000

 

 

1,000

 

 

1,000

 

Additional paid-in capital

 

24,205,000

 

 

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

)

 

(17,514,000

)

Retained earnings

 

380,343,000

 

 

331,576,000

 

 

434,874,000

 

Accumulated other comprehensive income (loss)

 

(713,000

)

 

(893,000

)

 

(713,000

)

Noncontrolling owner’s interest

 

11,612,000

 

 

10,104,000

 

 

13,293,000

 

Total shareholders' equity

 

397,934,000

 

 

347,479,000

 

 

454,146,000

 

  TOTAL

$

453,035,000

 

$

401,219,000

 

$

519,410,000

 

  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 June 30, 2024 and June 30, 2023   Figures in US Dollars 12/31/2023 6/30/2023 6/30/2024 Revenues: Net Sales

$

744,736,000

 

$

393,991,000

$

402,617,000

Cost of Sales

 

524,301,000

 

 

277,707,000

 

284,240,000

Gross Income

 

220,435,000

 

 

116,284,000

 

118,377,000

  Selling, General and Administrative Expenses

 

43,163,000

 

 

21,865,000

 

22,070,000

  Operating Income

 

177,272,000

 

 

94,419,000

 

96,307,000

  Other Expense: Interest — net

 

5,680,000

 

 

1,396,000

 

5,281,000

Other — net

 

(524,000

)

 

3,000

 

67,000

Total Other Expense

 

5,156,000

 

 

1,399,000

 

5,348,000

  Income (Loss) From Continuing Operations Before Provision for Income Taxes

 

182,428,000

 

 

95,818,000

 

101,655,000

  Provision (benefit) for Income Taxes

 

45,324,000

 

 

23,982,000

 

25,443,000

  Net Income Gain (Loss) from Continuing Operations

 

137,105,000

 

 

71,836,000

 

76,212,000

  COMPREHENSIVE (LOSS) INCOME—Pension unrecognized

 

186,000

 

 

0

 

0

(loss) gain adjustment—net of tax expense of $61,000 and tax (benefit) of $106,000 for 2023 and 2022, respectively   Net Income (Loss)

 

137,291,000

 

 

71,836,000

 

76,212,000

  Net Income Attributable to Noncontrolling Interest

 

4,099,000

 

 

2,148,000

 

2,279,000

  Net Income Attributable to Cambridge-Lee Holdings, Inc.

 

133,192,000

 

 

69,689,000

 

73,933,000

CAMBRIDGE-LEE HOLDINGS, INC STATEMENT OF CASH FLOW Figures in US Dollars   June 30, 2024 OPERATING ACTIVITIES: Net income (loss)

76,212,000

 

Less Net income (loss) from disposition Less Net income (loss) attributed to noncontrolling interest Net income (loss)

76,212,000

 

  Adjustments to reconcile net income (loss) to net cash provided by operating activities: Noncontrolling interest

-

 

Depreciation and amortization

3,434,000

 

Allowance for (benefit from) doubtful accounts receivable

(13,000

)

  Changes in assets and liabilities which provided (used) cash: (Increase) decrease in accounts and notes receivable

(49,810,000

)

(Increase) decrease in inventories

(20,787,000

)

(Increase) decrease in prepaid expenses, deposits and other assets

(220,000

)

Increase (decrease) in other long term obligations

(1,994,000

)

Increase (decrease) in accnts payable, accrued exps & amounts due to affiliates

7,827,000

 

Change in operating lease liabilities

3,000

 

Increase (decrease) in income taxes payable

5,555,000

 

Increase (decrease) in assets from dispositions Total adjustments

(56,005,000

)

  net cash provided by (used in) operating activities

20,207,000

 

  CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property, plant and equipment

(3,304,000

)

Proceeds from sale of property, plant and equipment

-

 

disposal Change in restricted cash balance Net cash provided by (used in) investing activities

(3,304,000

)

  CASH FLOWS FROM FINANCING ACTIVITIES: Principal payments on long-term debt

(1,185,000

)

Payment of debt issuance costs

26,000

 

Cash payment of dividends

(20,000,000

)

Net cash provided by (used in) financing activities

(21,159,000

)

  EFFECT OF EXCHANGE RATE CHANGES ON CASH   Net increase in cash and cash equivalents

(4,255,000

)

Cash and cash equivalents at beginning of period

217,598,000

 

  Cash and cash equivalents at end of period

213,343,000

 

 

Francisco Rodriguez, frodriguez@iusa.com.mx, Tel. 52 55 5216 8800