$ACTG
ACACIA RESEARCH CORP

2013 Q2 Form 10-Q Financial Statement

#000093454913000014 Filed on August 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2 2012 Q1
Revenue $23.11M $50.48M $99.04M
YoY Change -54.22% 27.02% 62.02%
Cost Of Revenue $5.610M $9.570M $7.590M
YoY Change -41.38% 11.41% -42.02%
Gross Profit $17.50M $40.91M $91.45M
YoY Change -57.22% 31.29% 90.36%
Gross Profit Margin 75.72% 81.04% 92.34%
Selling, General & Admin $17.21M $18.51M $17.48M
YoY Change -7.02% -13.26% -9.66%
% of Gross Profit 98.34% 45.25% 19.11%
Research & Development $730.0K $1.970M $1.120M
YoY Change -62.94% 47.01% 57.75%
% of Gross Profit 4.17% 4.82% 1.22%
Depreciation & Amortization $12.60M $5.400M $5.158M
YoY Change 133.33% 107.69% 35.95%
% of Gross Profit 72.0% 13.2% 5.64%
Operating Expenses $30.51M $25.87M $23.73M
YoY Change 17.94% 2.33% -0.42%
Operating Profit -$22.93M $9.773M $64.34M
YoY Change -334.63% 360.77% 211.22%
Interest Expense $400.0K $100.0K $60.00K
YoY Change 300.0%
% of Operating Profit 1.02% 0.09%
Other Income/Expense, Net $400.0K $102.0K $56.00K
YoY Change 292.16% 325.0% 86.67%
Pretax Income -$22.53M $9.875M $64.40M
YoY Change -328.15% 360.37% 211.05%
Income Tax -$9.050M $3.494M $14.75M
% Of Pretax Income 35.38% 22.9%
Net Earnings -$12.50M $6.321M $49.93M
YoY Change -297.8% 195.51% 304.18%
Net Earnings / Revenue -54.1% 12.52% 50.41%
Basic Earnings Per Share -$0.26 $0.13 $1.08
Diluted Earnings Per Share -$0.26 $0.13 $1.08
COMMON SHARES
Basic Shares Outstanding 48.01M shares 47.94M shares 44.37M shares
Diluted Shares Outstanding 48.01M shares 48.29M shares 44.76M shares

Balance Sheet

Concept 2013 Q2 2012 Q2 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.1M $429.4M $449.7M
YoY Change -25.45% 43.42% 43.4%
Cash & Equivalents $148.9M $296.9M $296.9M
Short-Term Investments $171.2M $132.5M $134.2M
Other Short-Term Assets $8.500M $1.800M $2.400M
YoY Change 372.22% -5.26% 9.09%
Inventory
Prepaid Expenses
Receivables $16.78M $10.82M $1.280M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $345.4M $442.0M $453.4M
YoY Change -21.86% 37.38% 43.03%
LONG-TERM ASSETS
Property, Plant & Equipment $607.0K $342.0K $212.0K
YoY Change 77.49% 93.22% 6.0%
Goodwill $30.15M $36.22M $36.20M
YoY Change -16.75%
Intangibles
YoY Change
Long-Term Investments $1.500M $2.000M
YoY Change -25.0% 0.0%
Other Assets $986.0K $462.0K $465.0K
YoY Change 113.42% -1.07% -7.0%
Total Long-Term Assets $335.2M $252.7M $210.1M
YoY Change 32.64% 1269.44% 940.08%
TOTAL ASSETS
Total Short-Term Assets $345.4M $442.0M $453.4M
Total Long-Term Assets $335.2M $252.7M $210.1M
Total Assets $680.6M $694.7M $663.5M
YoY Change -2.03% 104.22% 96.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.60M $18.60M $8.400M
YoY Change -16.13% 144.74% -8.7%
Accrued Expenses $6.500M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $42.09M $37.75M $22.50M
YoY Change 11.48% 24.44% -27.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.323M $654.0K $642.0K
YoY Change 255.2% 3.97% 7.0%
Total Long-Term Liabilities $2.323M $654.0K $642.0K
YoY Change 255.2% 3.97% 7.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.09M $37.75M $22.50M
Total Long-Term Liabilities $2.323M $654.0K $642.0K
Total Liabilities $61.69M $71.00M $55.51M
YoY Change -13.11% 129.28% 55.48%
SHAREHOLDERS EQUITY
Retained Earnings -$13.02M -$8.836M -$15.16M
YoY Change 47.37% -87.68%
Common Stock $50.00K $50.00K $50.00K
YoY Change 0.0% 16.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.73M
YoY Change
Treasury Stock Shares 1.129M shares
Shareholders Equity $611.0M $619.8M $604.2M
YoY Change
Total Liabilities & Shareholders Equity $680.6M $694.7M $663.5M
YoY Change -2.03% 104.22% 96.76%

Cashflow Statement

Concept 2013 Q2 2012 Q2 2012 Q1
OPERATING ACTIVITIES
Net Income -$12.50M $6.321M $49.93M
YoY Change -297.8% 195.51% 304.18%
Depreciation, Depletion And Amortization $12.60M $5.400M $5.158M
YoY Change 133.33% 107.69% 35.95%
Cash From Operating Activities $1.300M $14.40M $48.95M
YoY Change -90.97% -226.32% 34.29%
INVESTING ACTIVITIES
Capital Expenditures -$2.300M -$38.50M $24.00K
YoY Change -94.03% 3108.33% -59.32%
Acquisitions $150.0M
YoY Change
Other Investing Activities -$37.20M $2.300M -$274.8M
YoY Change -1717.39%
Cash From Investing Activities -$39.70M -$36.20M -$276.9M
YoY Change 9.67% 2916.67% 39230.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $219.0M
YoY Change 24.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.800M 3.100M $228.7M
YoY Change -287.1% -282.35% 30.43%
NET CHANGE
Cash From Operating Activities 1.300M 14.40M $48.95M
Cash From Investing Activities -39.70M -36.20M -$276.9M
Cash From Financing Activities -5.800M 3.100M $228.7M
Net Change In Cash -44.20M -18.70M $765.0K
YoY Change 136.36% 30.77% -99.64%
FREE CASH FLOW
Cash From Operating Activities $1.300M $14.40M $48.95M
Capital Expenditures -$2.300M -$38.50M $24.00K
Free Cash Flow $3.600M $52.90M $48.93M
YoY Change -93.19% -618.63% 34.44%

Facts In Submission

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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates.&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Acacia believes that, of the significant accounting policies described herein, the accounting policies associated with revenue recognition, stock-based compensation expense, impairment of marketable securities and intangible assets, the determination of the economic useful life of amortizable intangible assets, income taxes and valuation allowances against net deferred tax assets and the application of the acquisition method of accounting for business combinations, require its most difficult, subjective or complex judgments.</font></div></div>
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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actg Accelerated Amortization Expense Termination
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612000 USD
actg Accelerated Amortization Expense Up Front Payments
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CY2012Q2 actg Accelerated Amortization Expense Up Front Payments
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0 USD
CY2013Q2 actg Accrued Patent Acquisition Related Payments Current
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6508000 USD
CY2012Q4 actg Accrued Patent Acquisition Related Payments Current
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0 USD
CY2012Q1 actg Business Acquisition Deferred Tax Asset
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actg Contingent Legal Fees
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actg Income Tax Included In Unrealized Gain On Short Term Investments
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0 USD
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64000 USD
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0 USD
actg Increase Decrease In Royalties And Contingent Legal Fees Payable
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actg Increase Decrease In Royalties And Contingent Legal Fees Payable
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7478000 USD
CY2013Q2 actg Litigation And Licensing Expenses Patents
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5268000 USD
actg Litigation And Licensing Expenses Patents
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19566000 USD
actg Litigation And Licensing Expenses Patents
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CY2013Q2 actg Number Of Patent Portfolios
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274 patent_portfolios
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10200000 USD
CY2012Q4 actg Patents Accumulated Amortization
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726000 USD
CY2012Q2 actg Research Consulting And Other Expenses Business Development
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1967000 USD
actg Research Consulting And Other Expenses Business Development
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3083000 USD
actg Research Consulting And Other Expenses Business Development
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1750000 USD
CY2013Q2 actg Royalties And Contingent Legal Fees Payable
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19986000 USD
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12508000 USD
dei Amendment Flag
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false
dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000934549
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
49953662 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
ACACIA RESEARCH CORP

Files In Submission

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