Cambridge-Lee Holdings Consolidated Results of Operations for Q1 2025

READING, Pa.--(BUSINESS WIRE)--Cambridge-Lee Holdings, Inc, has announced its unaudited consolidated results for the first quarter of 2025.


CAMBRIDGE-LEE HOLDINGS, INC. AND SUBSIDIARIES
(A Wholly Owned Subsidiary of Tubo de Pasteje S.A. de C.V.)

CONSOLIDATED BALANCE SHEETS
As of March 31, 2025 and December 31, 2024

Figures in US Dollars	12/31/2024			3/31/2024			3/31/2025
Assets
Current Assets:
Cash and cash equivalents	$	298,409,000		$	228,515,000			305,082,000
Accounts Receivable - Net		78,187,000			94,232,000			123,432,000
Accounts Receivable - Affiliates		9,353,000			10,178,000			25,808,000
Accounts Receivable - Refundable Income Tax		1,141,000			3,204,000			1,141,000
Other Receivables		250,000			242,000			564,000
Inventories — net		103,707,000			90,964,000			107,560,000
Other current assets		6,733,000			17,788,000			23,458,000
Deferred income taxes		0			0			0
Total current assets		497,780,000			445,123,000			587,045,000

Restricted Cash

Property, Plant, and Equipment — Net		50,069,000			48,634,000			49,318,000
ROU Asset		4,250,000			4,966,000			4,645,000
Deferred Financing Fees — Net		117,000			156,000			104,000
Other Long-Term Assets		13,222,000			320,000			431,000
Total	$	565,438,000		$	499,199,000		$	641,543,000

Liabilities and Shareholders' Equity
Current Liabilities:
Current portion of long-term debt		2,327,000			2,363,000			1,750,000
Lease Liability - S. T.		1,180,000			1,280,000			1,221,000
Trade Accounts Payable		28,456,000			32,950,000			44,988,000
Affiliates Payable		1,277,000			621,000			5,368,000
Accrued expenses and taxes other than income tax		14,123,000			12,563,000			17,747,000
Income taxes payable		1,238,000			10,925,000			15,439,000
Total current liabilities		48,601,000			60,702,000			86,513,000

Long-Term Debt		9,000			1,752,000			2,000
Long-Term Obligations — Other		1,004,000			(919,000	)		(778,000	)
Lease Liability - L. T.		3,125,000			3,742,000			3,475,000
Deferred Income Taxes		2,360,000			3,265,000			2,360,000
Total liabilities		55,099,000			68,542,000			91,572,000

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
Excess of liabilities assumed over book value
of assets transferred		(17,514,000	)		(17,514,000	)		(17,514,000	)
Retained earnings		488,801,000			412,087,000			527,247,000
Accumulated other comprehensive income (loss)		(127,000	)		(713,000	)		(126,000	)
Noncontrolling owner’s interest		14,973,000			12,591,000			16,158,000
Total shareholders' equity		510,339,000			430,657,000			549,971,000

TOTAL	$	565,438,000		$	499,199,000		$	641,543,000


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 March 31, 2025 and December 31, 2024

Figures in US Dollars	12/31/2024		3/31/2024		3/31/2025
Revenues:
Net Sales	$	794,805,000	$	180,466,000	$	224,456,000
Cost of Sales		567,417,000		128,850,000		162,671,000
Gross Income		227,388,000		51,616,000		61,785,000

Selling, General and Administrative Expenses		44,506,000		10,637,000		11,064,000

Operating Income		182,882,000		40,979,000		50,721,000

Other Expense:
Interest — net		8,808,000		2,649,000		904,000
Other — net		2,530,000		20,000		2,203,000
Total Other Expense		11,338,000		2,669,000		3,107,000

Income (Loss) From Continuing Operations Before Provision for Income Taxes		194,220,000		43,648,000		53,828,000

Provision (benefit) for Income Taxes		47,418,000		10,926,000		14,197,000

Net Income Gain (Loss) from Continuing Operations		146,802,000		32,723,000		39,631,000

COMPREHENSIVE (LOSS) INCOME—Pension unrecognized		604,000		0		0

Net Income (Loss)		147,406,000		32,723,000		39,631,000

Net Income Attributable to Noncontrolling Interest		4,389,000		978,000		1,185,000

Net Income Attributable to Cambridge-Lee Holdings, Inc.		143,017,000		31,745,000		38,447,000


CAMBRIDGE-LEE HOLDINGS, INC
STATEMENT OF CASH FLOW
Figures in US Dollars

	March 31, 2025
OPERATING ACTIVITIES:
Net income (loss)	39,631,000
Less Net income (loss) from disposition
Less Net income (loss) attributed to noncontrolling interest
Net income (loss)	39,631,000

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Noncontrolling interest	-
Depreciation and amortization	1,933,000
Allowance for (benefit from) doubtful accounts receivable	(126,000	)

Changes in assets and liabilities which provided (used) cash:
(Increase) decrease in accounts and notes receivable	(61,698,000	)
(Increase) decrease in inventories	(3,853,000	)
(Increase) decrease in prepaid expenses, deposits and other assets	(3,941,000	)
Increase (decrease) in other long term obligations	(1,782,000	)
Increase (decrease) in accounts payable, accrued exps & amounts due to affiliates	24,248,000
Change in operating lease liabilities	(4,000	)
Increase (decrease) in income taxes payable	14,012,000
Increase (decrease) in assets from dispositions

Total adjustments	(31,211,000	)

Net cash provided by (used in) operating activities	8,420,000

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(1,176,000	)

Net cash provided by (used in) investing activities	(1,176,000	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long term debt	(584,000	)
Payment of debt issuance costs	13,000
Net cash provided by (used in) financing activities	(571,000	)

EFFECT OF EXCHANGE RATE CHANGES ON CASH

Net increase in cash and cash equivalents	6,673,000
Cash and cash equivalents at beginning of period	298,409,000

Cash and cash equivalents at end of period	305,082,000