2015 Q2 Form 10-Q Financial Statement

#000108622215000161 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $540.7M $476.0M
YoY Change 13.59% 25.9%
Cost Of Revenue $179.9M $149.3M
YoY Change 20.49% 19.74%
Gross Profit $360.8M $326.7M
YoY Change 10.44% 28.93%
Gross Profit Margin 66.73% 68.63%
Selling, General & Admin $210.7M $173.3M
YoY Change 21.52% 34.19%
% of Gross Profit 58.38% 53.06%
Research & Development $36.69M $32.05M
YoY Change 14.48% 55.61%
% of Gross Profit 10.17% 9.81%
Depreciation & Amortization $73.90M $58.70M
YoY Change 25.89% 33.11%
% of Gross Profit 20.48% 17.97%
Operating Expenses $247.3M $205.4M
YoY Change 20.43% 37.14%
Operating Profit $106.3M $112.4M
YoY Change -5.42% 15.23%
Interest Expense $4.678M $4.516M
YoY Change 3.59%
% of Operating Profit 4.4% 4.02%
Other Income/Expense, Net -$1.605M -$899.0K
YoY Change 78.53% -363.64%
Pretax Income $102.5M $108.7M
YoY Change -5.67% 9.42%
Income Tax $35.32M $35.79M
% Of Pretax Income 34.45% 32.93%
Net Earnings $67.20M $72.89M
YoY Change -7.8% 17.76%
Net Earnings / Revenue 12.43% 15.31%
Basic Earnings Per Share $0.38 $0.41
Diluted Earnings Per Share $0.37 $0.40
COMMON SHARES
Basic Shares Outstanding 178.7M shares 178.1M shares
Diluted Shares Outstanding 180.7M shares 180.8M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $643.5M $756.8M
YoY Change -14.97% 42.6%
Cash & Equivalents $257.4M $254.2M
Short-Term Investments $386.1M $502.6M
Other Short-Term Assets $165.1M $117.5M
YoY Change 40.51% 28.7%
Inventory
Prepaid Expenses
Receivables $342.9M $325.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.151B $1.200B
YoY Change -4.02% 39.6%
LONG-TERM ASSETS
Property, Plant & Equipment $704.6M $536.6M
YoY Change 31.29% 32.29%
Goodwill $1.136B $1.049B
YoY Change 8.28% 43.83%
Intangibles $165.7M $149.2M
YoY Change 11.07% 117.64%
Long-Term Investments $881.5M $735.6M
YoY Change 19.83% 25.21%
Other Assets $90.04M $96.14M
YoY Change -6.35% 59.47%
Total Long-Term Assets $2.980B $2.569B
YoY Change 15.98% 37.68%
TOTAL ASSETS
Total Short-Term Assets $1.151B $1.200B
Total Long-Term Assets $2.980B $2.569B
Total Assets $4.131B $3.769B
YoY Change 9.62% 38.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.31M $70.53M
YoY Change 20.95% 40.03%
Accrued Expenses $205.4M $158.6M
YoY Change 29.45% 10.44%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $348.2M $283.3M
YoY Change 22.93% 25.03%
LONG-TERM LIABILITIES
Long-Term Debt $614.5M $595.4M
YoY Change 3.21%
Other Long-Term Liabilities $79.75M $72.80M
YoY Change 9.55% 51.88%
Total Long-Term Liabilities $79.75M $72.80M
YoY Change 9.55% 51.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $348.2M $283.3M
Total Long-Term Liabilities $79.75M $72.80M
Total Liabilities $1.086B $995.9M
YoY Change 9.02% 259.02%
SHAREHOLDERS EQUITY
Retained Earnings -$1.453B -$1.787B
YoY Change -18.65% -14.61%
Common Stock $1.805M $1.844M
YoY Change -2.11% -9.83%
Preferred Stock
YoY Change
Treasury Stock (at cost) $126.1M $187.5M
YoY Change -32.76% -73.49%
Treasury Stock Shares 1.787M shares 3.276M shares
Shareholders Equity $3.045B $2.773B
YoY Change
Total Liabilities & Shareholders Equity $4.131B $3.769B
YoY Change 9.62% 38.29%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $67.20M $72.89M
YoY Change -7.8% 17.76%
Depreciation, Depletion And Amortization $73.90M $58.70M
YoY Change 25.89% 33.11%
Cash From Operating Activities $264.1M $200.2M
YoY Change 31.92% 41.89%
INVESTING ACTIVITIES
Capital Expenditures -$96.00M -$70.50M
YoY Change 36.17% -7.84%
Acquisitions
YoY Change
Other Investing Activities -$195.4M -$63.50M
YoY Change 207.72% -7155.56%
Cash From Investing Activities -$291.3M -$134.0M
YoY Change 117.39% 77.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -51.20M -62.00M
YoY Change -17.42% 170.74%
NET CHANGE
Cash From Operating Activities 264.1M 200.2M
Cash From Investing Activities -291.3M -134.0M
Cash From Financing Activities -51.20M -62.00M
Net Change In Cash -78.40M 4.200M
YoY Change -1966.67% -90.12%
FREE CASH FLOW
Cash From Operating Activities $264.1M $200.2M
Capital Expenditures -$96.00M -$70.50M
Free Cash Flow $360.1M $270.7M
YoY Change 33.03% 24.4%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Contingencies</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is conducting an internal investigation, with the assistance of outside counsel, relating to sales practices in a country outside the U.S. that represented less than&#160;</font><font style="font-family:inherit;font-size:10pt;">1%</font><font style="font-family:inherit;font-size:10pt;">&#160;of the Company&#8217;s revenue during the three and </font><font style="font-family:inherit;font-size:10pt;">six</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, and in each of the years ended December 31, 2014, 2013 and 2012. The internal investigation includes a review of compliance with the requirements of the U.S. Foreign Corrupt Practices Act and other applicable laws and regulations by employees in that market.&#160;In February 2015, the Company voluntarily contacted the U.S. Securities and Exchange Commission and Department of Justice to advise both agencies of this internal investigation. The Company is cooperating with those agencies. As of the filing of these financial statements, the Company cannot predict the outcome of this matter. No provision with respect to this matter has been made in the Company's consolidated financial statements.</font></div></div>

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