2012 Q1 Form 10-Q Financial Statement

#000126643212000032 Filed on May 10, 2012

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q1
Revenue $319.4M $276.0M
YoY Change 15.76% 14.97%
Cost Of Revenue $124.9M $89.07M
YoY Change 40.26% 32.0%
Gross Profit $194.5M $186.9M
YoY Change 4.09% 8.3%
Gross Profit Margin 60.89% 67.72%
Selling, General & Admin $100.6M $97.27M
YoY Change 3.47% 9.04%
% of Gross Profit 51.74% 52.05%
Research & Development $17.48M $12.59M
YoY Change 38.8% -4.59%
% of Gross Profit 8.99% 6.74%
Depreciation & Amortization $45.63M $41.13M
YoY Change 10.94% 24.65%
% of Gross Profit 23.46% 22.01%
Operating Expenses $118.1M $109.9M
YoY Change 7.52% 3.15%
Operating Profit $71.58M $72.75M
YoY Change -1.61% 10.13%
Interest Expense $1.600M $3.000M
YoY Change -46.67% 11.11%
% of Operating Profit 2.24% 4.12%
Other Income/Expense, Net -$441.0K -$1.035M
YoY Change -57.39% 935.0%
Pretax Income $72.78M $74.67M
YoY Change -2.53% 8.85%
Income Tax $29.56M $24.06M
% Of Pretax Income 40.61% 32.22%
Net Earnings $43.23M $50.62M
YoY Change -14.6% 23.82%
Net Earnings / Revenue 13.53% 18.34%
Basic Earnings Per Share $0.24 $0.27
Diluted Earnings Per Share $0.24 $0.26
COMMON SHARES
Basic Shares Outstanding 178.1M shares 186.8M shares
Diluted Shares Outstanding 182.3M shares 191.4M shares

Balance Sheet

Concept 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $404.5M $563.5M
YoY Change -28.22% -6.78%
Cash & Equivalents $144.7M $217.2M
Short-Term Investments $259.8M $346.3M
Other Short-Term Assets $59.20M $83.70M
YoY Change -29.27% -17.29%
Inventory
Prepaid Expenses
Receivables $215.9M $169.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $679.5M $816.8M
YoY Change -16.8% -4.4%
LONG-TERM ASSETS
Property, Plant & Equipment $303.5M $267.0M
YoY Change 13.67% 40.38%
Goodwill $709.6M
YoY Change
Intangibles $89.52M
YoY Change
Long-Term Investments $574.1M $693.6M
YoY Change -17.23% 41.21%
Other Assets $14.46M $86.30M
YoY Change -83.24% 28.23%
Total Long-Term Assets $1.735B $1.558B
YoY Change 11.33% 23.43%
TOTAL ASSETS
Total Short-Term Assets $679.5M $816.8M
Total Long-Term Assets $1.735B $1.558B
Total Assets $2.414B $2.375B
YoY Change 1.66% 12.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.94M $28.50M
YoY Change 15.59% 9.62%
Accrued Expenses $91.08M $84.80M
YoY Change 7.4% 61.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $148.5M $134.1M
YoY Change 10.77% -56.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $62.17M $30.50M
YoY Change 103.82% 12.96%
Total Long-Term Liabilities $62.17M $30.50M
YoY Change 103.82% 12.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $148.5M $134.1M
Total Long-Term Liabilities $62.17M $30.50M
Total Liabilities $212.9M $164.6M
YoY Change 29.36% -51.04%
SHAREHOLDERS EQUITY
Retained Earnings -$2.386B
YoY Change
Common Stock $1.982M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $490.9M
YoY Change
Treasury Stock Shares 18.28M shares
Shareholders Equity $2.201B $2.210B
YoY Change
Total Liabilities & Shareholders Equity $2.414B $2.375B
YoY Change 1.66% 12.19%

Cashflow Statement

Concept 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income $43.23M $50.62M
YoY Change -14.6% 23.82%
Depreciation, Depletion And Amortization $45.63M $41.13M
YoY Change 10.94% 24.65%
Cash From Operating Activities $92.50M $88.51M
YoY Change 4.51% 0.81%
INVESTING ACTIVITIES
Capital Expenditures $30.43M $35.60M
YoY Change -14.51% -201.14%
Acquisitions $291.6M $175.0K
YoY Change 166550.29%
Other Investing Activities -$454.9M -$28.30M
YoY Change 1507.42% -37.11%
Cash From Investing Activities -$498.2M -$74.51M
YoY Change 568.63% -7.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.913M $43.68M
YoY Change -81.88%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$9.076M -$30.71M
YoY Change -70.44% 104.71%
NET CHANGE
Cash From Operating Activities $92.50M $88.51M
Cash From Investing Activities -$498.2M -$74.51M
Cash From Financing Activities -$9.076M -$30.71M
Net Change In Cash -$414.8M -$16.71M
YoY Change 2382.52% 125.78%
FREE CASH FLOW
Cash From Operating Activities $92.50M $88.51M
Capital Expenditures $30.43M $35.60M
Free Cash Flow $62.07M $52.91M
YoY Change 17.31% -56.98%

Facts In Submission

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420000 USD
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175000 USD
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38389000 USD
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62165000 USD
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OtherNonoperatingIncomeExpense
-441000 USD
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PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2012Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
21655000 USD
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PaymentsToAcquireAvailableForSaleSecurities
280649000 USD
CY2011Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
275615000 USD
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PaymentsToAcquireBusinessesNetOfCashAcquired
175000 USD
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PaymentsToAcquireBusinessesNetOfCashAcquired
291638000 USD
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
30433000 USD
CY2011Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
35600000 USD
CY2012Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
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PreferredStockSharesAuthorized
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0 shares
CY2012Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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PreferredStockSharesOutstanding
0 shares
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PreferredStockValue
0 USD
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PreferredStockValue
0 USD
CY2012Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
52700000 USD
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3959000 USD
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7078000 USD
CY2012Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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89414000 USD
CY2011Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
137233000 USD
CY2012Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
28000000 USD
CY2011Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
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CY2012Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
10000 USD
CY2011Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
25000 USD
CY2011Q1 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
221000 USD
CY2012Q1 us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
0 USD
CY2012Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
370000 USD
CY2011Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
322000 USD
CY2012Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17480000 USD
CY2011Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12594000 USD
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RestrictedInvestmentsCurrent
0 USD
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56000 USD
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RestrictedInvestmentsNoncurrent
44000 USD
CY2011Q4 us-gaap Restricted Investments Noncurrent
RestrictedInvestmentsNoncurrent
42000 USD
CY2011Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
70
CY2011Q1 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2012Q1 us-gaap Restructuring Charges
RestructuringCharges
60000 USD
CY2012Q1 us-gaap Restructuring Reserve
RestructuringReserve
1800000 USD
CY2011Q4 us-gaap Restructuring Reserve
RestructuringReserve
3900000 USD
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RestructuringReserveCurrent
3430000 USD
CY2012Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
1326000 USD
CY2012Q1 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
500000 USD
CY2012Q1 us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
-2200000 USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2386464000 USD
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RetainedEarningsAccumulatedDeficit
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CY2012Q1 us-gaap Revenues
Revenues
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Revenues
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4555000 USD
CY2012Q1 akam Total Accounts Receivable Reserves
TotalAccountsReceivableReserves
5445000 USD
CY2012Q1 dei Amendment Flag
AmendmentFlag
false
CY2012Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
67290000 USD
CY2011Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
53365000 USD
CY2011Q1 us-gaap Share Based Compensation
ShareBasedCompensation
15712000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
20924000 USD
CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
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20924000 USD
CY2011Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
15712000 USD
CY2011Q3 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
400000000 USD
CY2012Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
121800000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
2156250000 USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
2201188000 USD
CY2012Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
22394000 USD
CY2011Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
9923000 USD
CY2012Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
18279840 shares
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
18056619 shares
CY2012Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
200000 shares
CY2011Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1000000 shares
CY2012Q1 us-gaap Treasury Stock Value
TreasuryStockValue
490908000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
482994000 USD
CY2012Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q1 dei Document Period End Date
DocumentPeriodEndDate
2012-03-31
CY2012Q1 dei Document Type
DocumentType
10-Q
CY2011Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
42800000 USD
CY2012Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7900000 USD
CY2012Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
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87500000 USD
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
191383000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
182342000 shares
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
186849000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178120000 shares
CY2011 akam Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentTax
-14000 USD
CY2012Q1 akam Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentTax
-189000 USD
CY2012Q1 akam Bandwidth And Co Location
BandwidthAndCoLocation
27299000 USD
CY2011Q4 akam Bandwidth And Co Location
BandwidthAndCoLocation
29291000 USD
CY2011Q1 akam Capitalization Of Stock Based Compensation As Internal Use Software
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1824000 USD
CY2012Q1 akam Capitalization Of Stock Based Compensation As Internal Use Software
CapitalizationOfStockBasedCompensationAsInternalUseSoftware
2298000 USD
CY2011Q1 akam Gain Loss On Investments And Property Plant And Equipment
GainLossOnInvestmentsAndPropertyPlantAndEquipment
117000 USD
CY2012Q1 akam Gain Loss On Investments And Property Plant And Equipment
GainLossOnInvestmentsAndPropertyPlantAndEquipment
-97000 USD
CY2012Q1 akam Number Of Countries Servers Are In
NumberOfCountriesServersAreIn
80 countries
CY2011 akam Number Of Customers Accounting For More Than Ten Percent Of Accounts Receivable
NumberOfCustomersAccountingForMoreThanTenPercentOfAccountsReceivable
1 customers
CY2012Q1 akam Number Of Customers Accounting For More Than Ten Percent Of Accounts Receivable
NumberOfCustomersAccountingForMoreThanTenPercentOfAccountsReceivable
0 customers
CY2011Q1 akam Number Of Customers Accounting For Ten Percent Or More Of Revenues
NumberOfCustomersAccountingForTenPercentOrMoreOfRevenues
0 customers
CY2012Q1 akam Number Of Customers Accounting For Ten Percent Or More Of Revenues
NumberOfCustomersAccountingForTenPercentOrMoreOfRevenues
0 customers
CY2012Q1 akam Number Of Foreign Countries Greater Than10 Revenue
NumberOfForeignCountriesGreaterThan10Revenue
0 countries
CY2011Q1 akam Number Of Foreign Countries Greater Than10 Revenue
NumberOfForeignCountriesGreaterThan10Revenue
0 countries
CY2011Q1 akam Percentage Of Revenue From Outside Us
PercentageOfRevenueFromOutsideUS
0.30
CY2012Q1 akam Percentage Of Revenue From Outside Us
PercentageOfRevenueFromOutsideUS
0.28
CY2012Q1 akam Percentage Of Revenues Related To Europe
PercentageOfRevenuesRelatedToEurope
0.17
CY2011Q1 akam Percentage Of Revenues Related To Europe
PercentageOfRevenuesRelatedToEurope
0.18
CY2012Q1 akam Property Plant And Equipment And Capitalized Software Net
PropertyPlantAndEquipmentAndCapitalizedSoftwareNet
303518000 USD
CY2011Q4 akam Property Plant And Equipment And Capitalized Software Net
PropertyPlantAndEquipmentAndCapitalizedSoftwareNet
293043000 USD
CY2012Q1 akam Reserve For Cash Basis Customers
ReserveForCashBasisCustomers
3428000 USD
CY2011Q4 akam Reserve For Cash Basis Customers
ReserveForCashBasisCustomers
2928000 USD
CY2012Q1 akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
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1800000 USD
CY2011Q1 akam Share Based Compensation Arrangement By Share Based Payment Award Amortization Of Capitalized Amounts
ShareBasedCompensationArrangementByShareBasedPaymentAwardAmortizationOfCapitalizedAmounts
2100000 USD
CY2012Q2 akam Stock Repurchase Program Increase In Authorized Amount
StockRepurchaseProgramIncreaseInAuthorizedAmount
150000000 USD
CY2011Q2 akam Stock Repurchase Program Increase In Authorized Amount
StockRepurchaseProgramIncreaseInAuthorizedAmount
150000000 USD
CY2011Q3 akam Stock Repurchase Program Increase In Authorized Amount
StockRepurchaseProgramIncreaseInAuthorizedAmount
250000000 USD
CY2010Q2 akam Stock Repurchase Program Increase In Authorized Amount
StockRepurchaseProgramIncreaseInAuthorizedAmount
150000000 USD
CY2012Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001086222
CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
179185575 shares
CY2012Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q1 dei Entity Registrant Name
EntityRegistrantName
AKAMAI TECHNOLOGIES INC

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0001266432-12-000032.txt Edgar Link pending
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akam-20120331_lab.xml Edgar Link unprocessable
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