2015 Q4 Form 10-Q Financial Statement

#000108622215000181 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $579.2M $551.0M $536.3M
YoY Change 7.99% 10.64% 23.01%
Cost Of Revenue $193.2M $183.2M $163.2M
YoY Change 18.39% 15.36% 21.84%
Gross Profit $385.9M $367.8M $373.1M
YoY Change 3.44% 8.43% 23.53%
Gross Profit Margin 66.64% 66.75% 69.57%
Selling, General & Admin $202.8M $207.0M $185.0M
YoY Change 9.62% 16.2% 27.94%
% of Gross Profit 52.55% 56.27% 49.59%
Research & Development $37.70M $38.40M $32.40M
YoY Change 16.36% 17.84% 22.26%
% of Gross Profit 9.77% 10.44% 8.68%
Depreciation & Amortization $80.40M $74.80M $67.80M
YoY Change 18.58% 10.98% 35.87%
% of Gross Profit 20.83% 20.34% 18.17%
Operating Expenses $262.4M $245.4M $236.9M
YoY Change 10.76% 16.45% 28.75%
Operating Profit $123.5M $115.7M $136.2M
YoY Change -9.29% -3.78% 15.39%
Interest Expense -$14.40M $4.630M -$12.10M
YoY Change 19.01% 3.3% -906.67%
% of Operating Profit -11.66% 4.0% -8.88%
Other Income/Expense, Net $12.20M $204.0K $9.900M
YoY Change 23.23% -208.51% -2575.0%
Pretax Income $120.5M $114.0M $133.9M
YoY Change -10.01% -3.06% 14.54%
Income Tax $32.10M $25.95M $36.80M
% Of Pretax Income 26.64% 22.76% 27.48%
Net Earnings $88.42M $88.04M $97.11M
YoY Change -8.95% -3.42% 20.86%
Net Earnings / Revenue 15.27% 15.98% 18.11%
Basic Earnings Per Share $0.50 $0.49 $0.55
Diluted Earnings Per Share $0.49 $0.49 $0.54
COMMON SHARES
Basic Shares Outstanding 177.9M shares 178.5M shares 178.0M shares
Diluted Shares Outstanding 180.4M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $749.6M $667.9M $758.3M
YoY Change -1.15% -6.05% 12.52%
Cash & Equivalents $289.5M $256.5M $238.7M
Short-Term Investments $460.1M $411.4M $519.6M
Other Short-Term Assets $48.43M $177.2M $46.68M
YoY Change 3.75% 54.09% 59.05%
Inventory
Prepaid Expenses $31.05M $44.63M
Receivables $380.4M $366.0M $329.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.253B $1.211B $1.263B
YoY Change -0.74% 5.06% 22.61%
LONG-TERM ASSETS
Property, Plant & Equipment $753.2M $734.5M $601.6M
YoY Change 25.2% 31.36% 33.6%
Goodwill $1.150B $1.136B $1.051B
YoY Change 9.41% 8.24% 38.81%
Intangibles $156.1M $159.0M $132.4M
YoY Change 17.89% 12.9% 71.01%
Long-Term Investments $774.7M $837.0M $870.0M
YoY Change -10.95% -1.62% 51.83%
Other Assets $89.60M $105.9M $81.75M
YoY Change 9.61% 6.77% 21.04%
Total Long-Term Assets $2.928B $2.974B $2.739B
YoY Change 6.92% 10.08% 42.07%
TOTAL ASSETS
Total Short-Term Assets $1.253B $1.211B $1.263B
Total Long-Term Assets $2.928B $2.974B $2.739B
Total Assets $4.182B $4.185B $4.002B
YoY Change 4.5% 8.58% 35.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.98M $60.90M $77.41M
YoY Change -19.93% -18.58% 5.02%
Accrued Expenses $216.2M $215.3M $204.7M
YoY Change 5.61% 23.74% 36.11%
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 $332.4M $332.0M $334.0M
YoY Change -0.47% 10.08% 26.92%
LONG-TERM LIABILITIES
Long-Term Debt $618.0M $619.4M $604.9M
YoY Change 2.17% 3.22%
Other Long-Term Liabilities $93.27M $93.33M $74.22M
YoY Change 25.66% 23.68% 29.87%
Total Long-Term Liabilities $93.27M $93.33M $74.22M
YoY Change 25.66% 23.68% 29.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $332.4M $332.0M $334.0M
Total Long-Term Liabilities $93.27M $93.33M $74.22M
Total Liabilities $1.061B $1.099B $1.056B
YoY Change 0.44% 9.27% 221.77%
SHAREHOLDERS EQUITY
Retained Earnings -$1.277B -$1.365B -$1.598B
YoY Change -20.11% -19.47% -17.28%
Common Stock $1.772M $1.811M $1.783M
YoY Change -0.62% -2.16% -1.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $202.4M $0.00
YoY Change -10.63%
Treasury Stock Shares 0.000 shares 2.848M shares 0.000 shares
Shareholders Equity $3.163B $3.086B $2.945B
YoY Change
Total Liabilities & Shareholders Equity $4.182B $4.185B $4.002B
YoY Change 4.5% 8.58% 35.29%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income $88.42M $88.04M $97.11M
YoY Change -8.95% -3.42% 20.86%
Depreciation, Depletion And Amortization $80.40M $74.80M $67.80M
YoY Change 18.58% 10.98% 35.87%
Cash From Operating Activities $247.1M $182.6M $195.6M
YoY Change 26.33% 5.37% 13.92%
INVESTING ACTIVITIES
Capital Expenditures -$78.90M -$133.0M -$92.30M
YoY Change -14.52% 85.24% 47.92%
Acquisitions
YoY Change
Other Investing Activities -$8.100M $18.70M -$44.10M
YoY Change -81.63% -117.62% -223.18%
Cash From Investing Activities -$86.90M -$114.5M -$136.4M
YoY Change -36.29% -35.64% 414.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -124.5M -65.10M -29.60M
YoY Change 320.61% 133.33% -36.75%
NET CHANGE
Cash From Operating Activities 247.1M 182.6M 195.6M
Cash From Investing Activities -86.90M -114.5M -136.4M
Cash From Financing Activities -124.5M -65.10M -29.60M
Net Change In Cash 35.70M 3.000M 29.60M
YoY Change 20.61% -109.23% -69.92%
FREE CASH FLOW
Cash From Operating Activities $247.1M $182.6M $195.6M
Capital Expenditures -$78.90M -$133.0M -$92.30M
Free Cash Flow $326.0M $315.6M $287.9M
YoY Change 13.23% 28.76% 22.98%

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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;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#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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