$ACTG
ACACIA RESEARCH CORP

2014 Q1 Form 10-Q Financial Statement

#000093454914000010 Filed on May 09, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $12.58M $76.86M
YoY Change -83.64% -22.39%
Cost Of Revenue $950.0K $18.48M
YoY Change -94.86% 143.48%
Gross Profit $11.63M $58.38M
YoY Change -80.08% -36.16%
Gross Profit Margin 92.46% 75.96%
Selling, General & Admin $13.22M $28.88M
YoY Change -54.22% 65.22%
% of Gross Profit 113.67% 49.47%
Research & Development $990.0K $1.020M
YoY Change -2.94% -8.93%
% of Gross Profit 8.51% 1.75%
Depreciation & Amortization $14.55M $11.77M
YoY Change 23.59% 128.27%
% of Gross Profit 125.12% 20.17%
Operating Expenses $28.69M $41.64M
YoY Change -31.1% 75.47%
Operating Profit -$26.05M $7.095M
YoY Change -467.17% -88.97%
Interest Expense $110.0K $1.290M
YoY Change -91.47% 2050.0%
% of Operating Profit 18.18%
Other Income/Expense, Net $109.0K $1.290M
YoY Change -91.55% 2203.57%
Pretax Income -$25.94M $8.385M
YoY Change -409.39% -86.98%
Income Tax -$1.372M $3.272M
% Of Pretax Income 39.02%
Net Earnings -$24.42M $5.113M
YoY Change -577.63% -89.76%
Net Earnings / Revenue -194.16% 6.65%
Basic Earnings Per Share -$0.51 $0.10
Diluted Earnings Per Share -$0.51 $0.10
COMMON SHARES
Basic Shares Outstanding 48.33M shares 47.86M shares
Diluted Shares Outstanding 48.33M shares 48.10M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.0M $327.4M
YoY Change -30.05% -27.2%
Cash & Equivalents $146.0M $193.2M
Short-Term Investments $95.60M $134.3M
Other Short-Term Assets $10.70M $5.100M
YoY Change 109.8% 112.5%
Inventory
Prepaid Expenses
Receivables $13.54M $45.35M
Other Receivables $0.00 $0.00
Total Short-Term Assets $253.3M $377.9M
YoY Change -32.97% -16.65%
LONG-TERM ASSETS
Property, Plant & Equipment $782.0K $536.0K
YoY Change 45.9% 152.83%
Goodwill $30.15M $30.15M
YoY Change 0.0% -16.72%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $309.0K $138.0K
YoY Change 123.91% -70.32%
Total Long-Term Assets $321.4M $336.6M
YoY Change -4.51% 60.23%
TOTAL ASSETS
Total Short-Term Assets $253.3M $377.9M
Total Long-Term Assets $321.4M $336.6M
Total Assets $574.7M $714.5M
YoY Change -19.57% 7.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.30M $17.10M
YoY Change -28.07% 103.57%
Accrued Expenses $19.30M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.44M $53.86M
YoY Change -34.2% 139.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $319.0K $494.0K
YoY Change -35.43% -23.05%
Total Long-Term Liabilities $319.0K $494.0K
YoY Change -35.43% -23.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.44M $53.86M
Total Long-Term Liabilities $319.0K $494.0K
Total Liabilities $39.51M $82.19M
YoY Change -51.93% 48.07%
SHAREHOLDERS EQUITY
Retained Earnings -$86.49M -$519.0K
YoY Change 16564.16% -96.58%
Common Stock $50.00K $49.00K
YoY Change 2.04% -2.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $34.64M $26.73M
YoY Change 29.59%
Treasury Stock Shares 1.729M shares 1.129M shares
Shareholders Equity $528.9M $623.4M
YoY Change
Total Liabilities & Shareholders Equity $574.7M $714.5M
YoY Change -19.57% 7.69%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$24.42M $5.113M
YoY Change -577.63% -89.76%
Depreciation, Depletion And Amortization $14.55M $11.77M
YoY Change 23.59% 128.27%
Cash From Operating Activities -$20.43M $16.83M
YoY Change -221.44% -65.63%
INVESTING ACTIVITIES
Capital Expenditures $96.00K $241.0K
YoY Change -60.17% 904.17%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $34.40M -$44.00M
YoY Change -178.18% -83.99%
Cash From Investing Activities $33.32M -$48.21M
YoY Change -169.1% -82.59%
FINANCING ACTIVITIES
Cash Dividend Paid $6.255M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.165M $2.746M
YoY Change -324.51% -98.8%
NET CHANGE
Cash From Operating Activities -$20.43M $16.83M
Cash From Investing Activities $33.32M -$48.21M
Cash From Financing Activities -$6.165M $2.746M
Net Change In Cash $6.718M -$28.64M
YoY Change -123.45% -3844.18%
FREE CASH FLOW
Cash From Operating Activities -$20.43M $16.83M
Capital Expenditures $96.00K $241.0K
Free Cash Flow -$20.53M $16.58M
YoY Change -223.78% -66.11%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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848000 USD
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CY2013Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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319000 USD
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CY2014Q1 us-gaap Payments Of Dividends
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CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2014Q1 us-gaap Preferred Stock Value
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0 USD
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PreferredStockValue
0 USD
CY2014Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2013Q1 us-gaap Proceeds From Minority Shareholders
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1920000 USD
CY2014Q1 us-gaap Proceeds From Minority Shareholders
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CY2013Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
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117000 USD
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
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CY2013Q1 us-gaap Profit Loss
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766000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
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782000 USD
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CY2013Q4 us-gaap Treasury Stock Shares
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CY2014Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2014Q1 us-gaap Treasury Stock Value
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CY2014Q1 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>
CY2013Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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244468 shares
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2565000 USD
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4000000 USD
CY2014Q1 actg Accrued Patent Acquisition Related Payments Current
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CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q1 actg Accelerated Amortization Expense Up Front Payments
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48000 USD
CY2013Q1 actg Accelerated Amortization Expense Up Front Payments
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CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48329375 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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48329375 shares
CY2013Q1 actg Basicnetincomelosspercommonshare As Reported
BasicnetincomelosspercommonshareAsReported
0.11 USD
CY2013Q1 actg Contingent Legal Fees
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15032000 USD
CY2014Q1 actg Contingent Legal Fees
ContingentLegalFees
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CY2013Q1 actg Dilutednetincomelosspercommonshare As Reported
DilutednetincomelosspercommonshareAsReported
0.11 USD
CY2014Q1 actg Dividendsattributabletocommonstockholdersunderthetwoclassmethod
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6048000 USD
CY2013Q1 actg Dividendsattributabletocommonstockholdersunderthetwoclassmethod
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0 USD
CY2013Q1 actg Increase Decrease In Royalties And Contingent Legal Fees Payable
IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
24228000 USD
CY2014Q1 actg Increase Decrease In Royalties And Contingent Legal Fees Payable
IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable
-6552000 USD
CY2013Q1 actg Litigation And Licensing Expenses Patents
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CY2014Q1 actg Litigation And Licensing Expenses Patents
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8994000 USD
CY2014Q1 actg Patent Acquisition Costs Included In Accrued Expenses
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15250000 USD
CY2013Q1 actg Patent Acquisition Costs Included In Accrued Expenses
PatentAcquisitionCostsIncludedInAccruedExpenses
0 USD
CY2013Q4 actg Patents Accumulated Amortization
PatentsAccumulatedAmortization
112323000 USD
CY2014Q1 actg Patents Accumulated Amortization
PatentsAccumulatedAmortization
126795000 USD
CY2013Q4 actg Patents Net Of Accumulated Amortization
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288432000 USD
CY2014Q1 actg Patents Net Of Accumulated Amortization
PatentsNetOfAccumulatedAmortization
290197000 USD
CY2014Q1 actg Research Consulting And Other Expenses Business Development
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992000 USD
CY2013Q1 actg Research Consulting And Other Expenses Business Development
ResearchConsultingAndOtherExpensesBusinessDevelopment
1024000 USD
CY2014Q1 actg Royalties And Contingent Legal Fees Payable
RoyaltiesAndContingentLegalFeesPayable
3895000 USD
CY2013Q4 actg Royalties And Contingent Legal Fees Payable
RoyaltiesAndContingentLegalFeesPayable
10447000 USD
CY2013Q1 actg Undistributed Earnings Loss Allocatedto Participating Securities Basic
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasic
140000 USD
CY2014Q1 actg Undistributed Earnings Loss Allocatedto Participating Securities Basic
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasic
0 USD
CY2013Q1 actg Undistributed Earnings Loss Allocatedto Participating Securities Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesDiluted
139000 USD
CY2014Q1 actg Undistributed Earnings Loss Allocatedto Participating Securities Diluted
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesDiluted
0 USD
CY2013Q1 actg Weightedaveragenumberofsharesdilutedaspreviouslyreported
Weightedaveragenumberofsharesdilutedaspreviouslyreported
48354444 shares
CY2013Q1 actg Weightedaveragesharesusedincomputingnetincomelosspershareattributabletocommonstockholdersbasic As Reported
WeightedaveragesharesusedincomputingnetincomelosspershareattributabletocommonstockholdersbasicAsReported
47859774 shares
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000934549
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
50062790 shares
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
ACACIA RESEARCH CORP

Files In Submission

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0000934549-14-000010-index-headers.html Edgar Link pending
0000934549-14-000010-index.html Edgar Link pending
0000934549-14-000010.txt Edgar Link pending
0000934549-14-000010-xbrl.zip Edgar Link pending
acaciaresearchcorporationa01.jpg Edgar Link pending
actg-20140331.xml Edgar Link completed
actg-20140331.xsd Edgar Link pending
actg-20140331_cal.xml Edgar Link unprocessable
actg-20140331_def.xml Edgar Link unprocessable
actg-20140331_lab.xml Edgar Link unprocessable
actg-20140331_pre.xml Edgar Link unprocessable
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report.css Edgar Link pending
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