2017 Q4 Form 10-Q Financial Statement

#000127518718000003 Filed on January 05, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $66.62M $89.03M
YoY Change -25.17% -0.29%
Cost Of Revenue $43.98M $44.02M
YoY Change -0.1% 1.43%
Gross Profit $34.70M $45.01M
YoY Change -22.91% -1.9%
Gross Profit Margin 52.09% 50.56%
Selling, General & Admin $26.51M $27.31M
YoY Change -2.93% -7.3%
% of Gross Profit 76.39% 60.67%
Research & Development $6.107M $5.913M
YoY Change 3.28% -4.3%
% of Gross Profit 17.6% 13.14%
Depreciation & Amortization $5.890M $6.140M
YoY Change -4.07% -13.4%
% of Gross Profit 16.97% 13.64%
Operating Expenses $41.61M $29.42M
YoY Change 41.42% -35.08%
Operating Profit $1.123M $15.59M
YoY Change -92.8% 2658.94%
Interest Expense $760.0K $810.0K
YoY Change -6.17% -18.84%
% of Operating Profit 67.68% 5.2%
Other Income/Expense, Net -$1.040M -$1.173M
YoY Change -11.34% -5.1%
Pretax Income $83.00K $14.42M
YoY Change -99.42% -2248.29%
Income Tax -$166.0K $681.0K
% Of Pretax Income -200.0% 4.72%
Net Earnings $249.0K $13.73M
YoY Change -98.19% -4211.98%
Net Earnings / Revenue 0.37% 15.43%
Basic Earnings Per Share $0.01 $0.37
Diluted Earnings Per Share $0.01 $0.37
COMMON SHARES
Basic Shares Outstanding 37.07M shares 36.81M shares
Diluted Shares Outstanding 37.38M shares 37.15M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.12M $36.87M
YoY Change 38.65% 78.66%
Cash & Equivalents $49.86M $35.66M
Short-Term Investments $1.260M $1.203M
Other Short-Term Assets $5.300M $4.100M
YoY Change 29.27% -41.43%
Inventory $54.03M $56.67M
Prepaid Expenses
Receivables $42.07M $50.17M
Other Receivables $0.00 $0.00
Total Short-Term Assets $152.5M $147.8M
YoY Change 3.18% -2.48%
LONG-TERM ASSETS
Property, Plant & Equipment $43.77M $47.12M
YoY Change -7.11% -7.89%
Goodwill $361.3M $361.3M
YoY Change 0.0% 0.0%
Intangibles $137.4M $154.4M
YoY Change -11.01% -10.4%
Long-Term Investments
YoY Change
Other Assets $2.855M $1.561M
YoY Change 82.9% -61.66%
Total Long-Term Assets $545.3M $564.4M
YoY Change -3.38% -7.31%
TOTAL ASSETS
Total Short-Term Assets $152.5M $147.8M
Total Long-Term Assets $545.3M $564.4M
Total Assets $697.8M $712.2M
YoY Change -2.02% -6.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.80M $15.29M
YoY Change 42.61% -29.56%
Accrued Expenses $30.80M $20.91M
YoY Change 47.31% 24.02%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $5.000M
YoY Change 0.0% -55.56%
Total Short-Term Liabilities $59.66M $50.75M
YoY Change 17.55% -15.54%
LONG-TERM LIABILITIES
Long-Term Debt $88.97M $110.2M
YoY Change -19.24% -10.22%
Other Long-Term Liabilities $809.0K $1.083M
YoY Change -25.3% 39.74%
Total Long-Term Liabilities $89.78M $111.2M
YoY Change -19.29% 14254.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.66M $50.75M
Total Long-Term Liabilities $89.78M $111.2M
Total Liabilities $176.6M $188.8M
YoY Change -6.48% -11.23%
SHAREHOLDERS EQUITY
Retained Earnings -$10.99M -$981.0K
YoY Change 1020.49% -103.71%
Common Stock $538.8M $535.9M
YoY Change 0.53% 2.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.714M $9.944M
YoY Change -42.54% 372.62%
Treasury Stock Shares 370.0K shares 642.3K shares
Shareholders Equity $521.2M $523.3M
YoY Change
Total Liabilities & Shareholders Equity $697.8M $712.2M
YoY Change -2.02% -6.35%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $249.0K $13.73M
YoY Change -98.19% -4211.98%
Depreciation, Depletion And Amortization $5.890M $6.140M
YoY Change -4.07% -13.4%
Cash From Operating Activities $10.16M $14.95M
YoY Change -32.04% 56.05%
INVESTING ACTIVITIES
Capital Expenditures -$720.0K -$1.370M
YoY Change -47.45% 218.6%
Acquisitions
YoY Change
Other Investing Activities $0.00 $450.0K
YoY Change -100.0% 1400.0%
Cash From Investing Activities -$720.0K -$920.0K
YoY Change -21.74% 130.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.720M -15.60M
YoY Change -50.51% 51.46%
NET CHANGE
Cash From Operating Activities 10.16M 14.95M
Cash From Investing Activities -720.0K -920.0K
Cash From Financing Activities -7.720M -15.60M
Net Change In Cash 1.720M -1.570M
YoY Change -209.55% 40.18%
FREE CASH FLOW
Cash From Operating Activities $10.16M $14.95M
Capital Expenditures -$720.0K -$1.370M
Free Cash Flow $10.88M $16.32M
YoY Change -33.33% 63.04%

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760000 USD
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1483000 USD
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17563000 USD
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18724000 USD
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7300000 USD
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6900000 USD
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12602000 USD
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10495000 USD
CY2017Q2 us-gaap Inventory Write Down
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1400000 USD
CY2017 us-gaap Inventory Write Down
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2400000 USD
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1700000 USD
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192934000 USD
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176586000 USD
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707961000 USD
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59660000 USD
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22387000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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13201000 USD
CY2016Q4 us-gaap Net Income Loss
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13734000 USD
us-gaap Net Income Loss
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15034000 USD
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249000 USD
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214000 USD
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22000 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
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98000 USD
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-1173000 USD
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-1842000 USD
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CY2017Q4 us-gaap Oci Before Reclassifications Before Tax Attributable To Parent
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195000 USD
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OciBeforeReclassificationsBeforeTaxAttributableToParent
478000 USD
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41608000 USD
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29422000 USD
us-gaap Operating Expenses
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70882000 USD
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82697000 USD
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15588000 USD
us-gaap Operating Income Loss
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19160000 USD
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1123000 USD
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1263000 USD
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4920000 USD
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4113000 USD
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2685000 USD
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0 USD
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1886000 USD
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2855000 USD
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us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
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-862000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
195000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
478000 USD
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-571000 USD
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-862000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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150000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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433000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
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478000 USD
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-565000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-862000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
195000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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478000 USD
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OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
0 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
0 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
0 USD
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
0 USD
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6000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
0 USD
CY2017Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
45000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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45000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
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850000 USD
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809000 USD
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576000 USD
us-gaap Other Noncash Income Expense
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557000 USD
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-313000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-280000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
287000 USD
us-gaap Payments For Repurchase Of Common Stock
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7840000 USD
us-gaap Payments For Repurchase Of Common Stock
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0 USD
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812000 USD
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1459000 USD
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1177000 USD
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
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1846000 USD
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0.01
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PreferredStockParOrStatedValuePerShare
0.01
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5000000 shares
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
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0 shares
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
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0 USD
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
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5790000 USD
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4842000 USD
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336000 USD
CY2017Q4 us-gaap Prepaid Taxes
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432000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
116471000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
6404000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1738000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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450000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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0 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
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45234000 USD
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43767000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-610000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
280000 USD
CY2017Q4 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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0 USD
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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0 USD
us-gaap Repayments Of Long Term Debt
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121410000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2500000 USD
CY2016Q4 us-gaap Research And Development Expense
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5913000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12622000 USD
CY2017Q4 us-gaap Research And Development Expense
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6107000 USD
us-gaap Research And Development Expense
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12548000 USD
us-gaap Restructuring Charges
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4000000 USD
CY2016 us-gaap Restructuring Charges
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0 USD
CY2017Q4 us-gaap Restructuring Charges
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1420000 USD
CY2017Q4 us-gaap Restructuring Charges
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1400000 USD
us-gaap Restructuring Charges
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2600000 USD
us-gaap Restructuring Charges
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2636000 USD
CY2017Q2 us-gaap Restructuring Reserve
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962000 USD
CY2017Q3 us-gaap Restructuring Reserve
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CY2017Q4 us-gaap Restructuring Reserve
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1800000 USD
CY2017Q4 us-gaap Restructuring Reserve
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1824000 USD
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2075000 USD
CY2017Q4 us-gaap Restructuring Reserve Current
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2844000 USD
CY2017Q4 us-gaap Restructuring Reserve Settled Without Cash2
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207000 USD
us-gaap Restructuring Reserve Settled Without Cash2
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315000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
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856000 USD
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861000 USD
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89029000 USD
us-gaap Sales Revenue Net
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177127000 USD
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86706000 USD
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172117000 USD
CY2016Q4 us-gaap Selling And Marketing Expense
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19469000 USD
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38924000 USD
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18967000 USD
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38369000 USD
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3385000 USD
us-gaap Share Based Compensation
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3763000 USD
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9500000 shares
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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722000 USD
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1000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
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1015000 USD
CY2017Q2 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
521220000 USD
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
370000 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
370000 shares
CY2017Q2 us-gaap Treasury Stock Value
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5714000 USD
CY2017Q4 us-gaap Treasury Stock Value
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5714000 USD
CY2016Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
339000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
394000 shares
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
317000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
339000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37146000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37000000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37383000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37322000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36807000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36606000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37066000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36983000 shares

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