2016 Q2 Form 10-Q Financial Statement

#000138746716000185 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $91.40M $82.99M $76.92M
YoY Change 12.15% 7.89% 2.01%
Cost Of Revenue $71.90M $66.67M $64.15M
YoY Change 6.99% 3.92% 1.68%
Gross Profit $19.50M $16.32M $12.76M
YoY Change 36.36% 27.85% 3.69%
Gross Profit Margin 21.33% 19.66% 16.59%
Selling, General & Admin $9.600M $9.566M $9.219M
YoY Change -1.03% 3.76% -0.4%
% of Gross Profit 49.23% 58.62% 72.23%
Research & Development $7.000M $6.924M $6.929M
YoY Change 1.45% -0.07% 15.93%
% of Gross Profit 35.9% 42.43% 54.29%
Depreciation & Amortization $6.600M $6.920M $6.760M
YoY Change -4.07% 2.37% -2.17%
% of Gross Profit 33.85% 42.4% 52.96%
Operating Expenses $16.60M $16.49M $16.15M
YoY Change 0.61% 2.12% 6.01%
Operating Profit $2.900M -$171.0K -$3.384M
YoY Change -231.82% -94.95% 15.77%
Interest Expense -$500.0K $5.000K $41.00K
YoY Change -225.0% -87.8% -33.87%
% of Operating Profit -17.24%
Other Income/Expense, Net $132.0K
YoY Change
Pretax Income $2.400M -$44.00K -$3.407M
YoY Change -226.32% -98.71% 16.16%
Income Tax $600.0K $1.219M $698.0K
% Of Pretax Income 25.0%
Net Earnings $1.900M -$1.263M -$4.105M
YoY Change -165.52% -69.23% 24.62%
Net Earnings / Revenue 2.08% -1.52% -5.34%
Basic Earnings Per Share -$0.06 -$0.16
Diluted Earnings Per Share $84.07K -$0.06 -$0.16
COMMON SHARES
Basic Shares Outstanding 22.43M shares 22.23M shares 26.45M shares
Diluted Shares Outstanding 22.23M shares 26.45M shares

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.80M $78.90M $112.9M
YoY Change -17.25% -30.12% 2.08%
Cash & Equivalents $87.77M $78.92M $112.9M
Short-Term Investments
Other Short-Term Assets $4.526M $5.772M $3.433M
YoY Change 5.77% 68.13% -8.11%
Inventory $68.85M $67.91M $66.31M
Prepaid Expenses
Receivables $26.59M $32.04M $31.14M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $187.9M $187.9M $217.0M
YoY Change -12.05% -13.38% 1.77%
LONG-TERM ASSETS
Property, Plant & Equipment $116.1M $112.5M $115.8M
YoY Change -2.92% -2.87% -6.36%
Goodwill $300.0K $269.0K $269.0K
YoY Change 11.52% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets $2.359M $2.971M $3.281M
YoY Change 2.7% -9.45% 102.78%
Total Long-Term Assets $130.6M $125.9M $130.3M
YoY Change -2.71% -3.36% -4.55%
TOTAL ASSETS
Total Short-Term Assets $187.9M $187.9M $217.0M
Total Long-Term Assets $130.6M $125.9M $130.3M
Total Assets $318.5M $313.9M $347.3M
YoY Change -8.45% -9.62% -0.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.72M $47.04M $34.40M
YoY Change -3.1% 36.76% 23.07%
Accrued Expenses $22.59M $22.01M $17.68M
YoY Change 17.5% 24.53% 4.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $300.0K $6.429M
YoY Change -95.33% 106.92%
Total Short-Term Liabilities $69.48M $71.84M $62.00M
YoY Change 4.74% 15.87% 22.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $300.0K
YoY Change -100.0% -97.38%
Other Long-Term Liabilities $741.0K $797.0K $1.004M
YoY Change -27.14% -20.62% -72.11%
Total Long-Term Liabilities $741.0K $797.0K $1.004M
YoY Change -27.14% -20.62% -91.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.48M $71.84M $62.00M
Total Long-Term Liabilities $741.0K $797.0K $1.004M
Total Liabilities $76.47M $78.17M $68.47M
YoY Change 7.3% 14.16% 0.77%
SHAREHOLDERS EQUITY
Retained Earnings $100.1M $98.22M $105.8M
YoY Change -3.06% -7.17% -4.88%
Common Stock $57.00K $56.00K $54.00K
YoY Change 3.64% 3.7% 1.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $50.20M $50.47M $6.759M
YoY Change 484.18% 646.71% 242.57%
Treasury Stock Shares 5.651M shares 5.679M shares 781.0K shares
Shareholders Equity $242.1M $235.7M $278.8M
YoY Change
Total Liabilities & Shareholders Equity $318.5M $313.9M $347.3M
YoY Change -8.45% -9.62% -0.7%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $1.900M -$1.263M -$4.105M
YoY Change -165.52% -69.23% 24.62%
Depreciation, Depletion And Amortization $6.600M $6.920M $6.760M
YoY Change -4.07% 2.37% -2.17%
Cash From Operating Activities $13.82M $1.730M $2.670M
YoY Change 38.89% -35.21% -77.6%
INVESTING ACTIVITIES
Capital Expenditures -$8.120M -$3.010M -$5.640M
YoY Change -8.87% -46.63% 77.36%
Acquisitions
YoY Change
Other Investing Activities $160.0K -$120.0K $10.00K
YoY Change 60.0% -1300.0% 0.0%
Cash From Investing Activities -$7.960M -$3.130M -$5.630M
YoY Change -9.75% -44.4% 77.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.990M -1.550M -4.780M
YoY Change -137.47% -67.57% 658.73%
NET CHANGE
Cash From Operating Activities 13.82M 1.730M 2.670M
Cash From Investing Activities -7.960M -3.130M -5.630M
Cash From Financing Activities 2.990M -1.550M -4.780M
Net Change In Cash 8.850M -2.950M -7.740M
YoY Change -229.2% -61.89% -195.44%
FREE CASH FLOW
Cash From Operating Activities $13.82M $1.730M $2.670M
Capital Expenditures -$8.120M -$3.010M -$5.640M
Free Cash Flow $21.94M $4.740M $8.310M
YoY Change 16.33% -42.96% -44.97%

Facts In Submission

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us-gaap Income Tax Expense Benefit
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CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2015Q2 us-gaap Liabilities Current
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LiabilitiesCurrent
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
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OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
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us-gaap Operating Income Loss
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CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
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OtherAssetsCurrent
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OtherAssetsNoncurrent
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PreferredStockSharesOutstanding
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PreferredStockSharesOutstanding
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CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
28000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
22000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-133000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
953000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
797000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3977000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
42080000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
492000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12579000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.002
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.002
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1910000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4050000 USD
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
50000 USD
us-gaap Proceeds From Sale Of Other Property Plant And Equipment
ProceedsFromSaleOfOtherPropertyPlantAndEquipment
0 USD
CY2014Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1346000 USD
CY2015Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1117000 USD
CY2015Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1957000 USD
CY2016Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1596000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
119579000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
112497000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
7143000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
790000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
706000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6929000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20155000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6924000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
19029000 USD
CY2015Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
368000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
347000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
103232000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
98219000 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
76918000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
246463000 USD
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
82987000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
244251000 USD
CY2015Q2 us-gaap Security Deposit
SecurityDeposit
1215000 USD
CY2016Q1 us-gaap Security Deposit
SecurityDeposit
1934000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9219000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27958000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9444000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28300000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3319000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3047000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
844067 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
310512 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
12.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1410538 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3855252 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2836217 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2099093 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.77
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.19
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1445000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1164000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1216000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
803000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
426612 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2074209 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
11.23
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.59
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2016Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1791713 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y8M9D
CY2016Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
11.80
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y8M23D
CY2015Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
17800000 USD
CY2015Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
50000000 USD
CY2015Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
18200000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
276639000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
235725000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.87
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.90
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
998000 shares
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
5679000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5723093 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4695499 shares
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
0 shares
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
8593000 USD
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
50470000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
50800000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
41800000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
6600000 USD
CY2016Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4400000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26447000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26469000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22232000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22400000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26447000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26469000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22232000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22400000 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application and review of credit approvals, credit ratings and other monitoring procedures. In some instances, the Company also obtains letters of credit from certain customers. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit sales, which are mainly on credit terms of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">30 to 60 days</font><font style="font-family:inherit;font-size:10pt;">, are only made to customers who meet the Company's credit requirements, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company considers its trade accounts receivable to be of good credit quality because its key distributors and direct customers have long-standing business relationships with the Company and the Company has not experienced any significant write-offs of accounts receivable in the past. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, when available.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassification</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:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has reclassified certain amounts previously reported in its financial statements to conform to the current presentation. These reclassifications did not have a material impact on our consolidated financial statements.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. To the extent there are material differences between these estimates and actual results, the Company's condensed consolidated financial statements will be affected. On an ongoing basis, the Company evaluates the estimates, judgments and assumptions including those related to stock rotation returns, price adjustments, allowance for doubtful accounts, inventory reserves, warranty accrual, income taxes, share-based compensation, and useful lives for property, plant and equipment and intangible assets.</font></div></div>

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