2016 Q2 Form 10-Q Financial Statement

#000162828016017906 Filed on July 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $62.60M $44.40M
YoY Change 40.99% 53.1%
Cost Of Revenue $15.70M $11.60M
YoY Change 35.34% 118.87%
Gross Profit $46.90M $32.80M
YoY Change 42.99% 37.82%
Gross Profit Margin 74.92% 73.87%
Selling, General & Admin $10.20M $5.900M
YoY Change 72.88% 34.09%
% of Gross Profit 21.75% 17.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.16M $5.946M
YoY Change 70.94% 33.77%
Operating Profit $36.74M $26.85M
YoY Change 36.8% 38.74%
Interest Expense $15.72M $11.92M
YoY Change 31.93% 126.65%
% of Operating Profit 42.8% 44.38%
Other Income/Expense, Net -$15.00M
YoY Change
Pretax Income $10.30M $24.70M
YoY Change -58.3% 2.92%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings $10.34M $24.66M
YoY Change -58.07% 2.92%
Net Earnings / Revenue 16.51% 55.54%
Basic Earnings Per Share
Diluted Earnings Per Share $150.6K $410.3K
COMMON SHARES
Basic Shares Outstanding 67.40M shares 58.43M shares
Diluted Shares Outstanding 68.37M shares 59.02M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.60M $48.80M
YoY Change -20.9% -22.91%
Cash & Equivalents $38.63M $48.85M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $57.80M $61.60M
YoY Change -6.17% -21.53%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.551B $1.523B
YoY Change 1.82% 38.97%
Other Assets $67.40M $43.40M
YoY Change 55.3% 23.3%
Total Long-Term Assets $2.921B $2.272B
YoY Change 28.59% 53.89%
TOTAL ASSETS
Total Short-Term Assets $57.80M $61.60M
Total Long-Term Assets $2.921B $2.272B
Total Assets $2.979B $2.333B
YoY Change 27.67% 50.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.50M $8.300M
YoY Change 195.18% 56.6%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.20M $39.90M
YoY Change 65.91% 38.06%
LONG-TERM LIABILITIES
Long-Term Debt $1.581B $1.247B
YoY Change 26.86% 84.74%
Other Long-Term Liabilities $2.100M
YoY Change 90.91%
Total Long-Term Liabilities $1.581B $1.249B
YoY Change 26.64% 84.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.20M $39.90M
Total Long-Term Liabilities $1.581B $1.249B
Total Liabilities $1.648B $1.289B
YoY Change 27.86% 82.84%
SHAREHOLDERS EQUITY
Retained Earnings -$77.94M -$15.97M
YoY Change 388.19% 57.57%
Common Stock $1.412B $1.063B
YoY Change 32.79% 23.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.332B $1.045B
YoY Change
Total Liabilities & Shareholders Equity $2.979B $2.333B
YoY Change 27.67% 50.08%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $10.34M $24.66M
YoY Change -58.07% 2.92%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $31.50M $23.10M
YoY Change 36.36% 47.13%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$111.2M -$288.5M
YoY Change -61.46% -50.95%
Cash From Investing Activities -$111.2M -$288.5M
YoY Change -61.46% -50.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 95.30M 274.3M
YoY Change -65.26% -46.15%
NET CHANGE
Cash From Operating Activities 31.50M 23.10M
Cash From Investing Activities -111.2M -288.5M
Cash From Financing Activities 95.30M 274.3M
Net Change In Cash 15.60M 8.900M
YoY Change 75.28% -114.1%
FREE CASH FLOW
Cash From Operating Activities $31.50M $23.10M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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EarningsPerShareBasicandDilutedUndistributed
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EarningsPerShareBasicandDilutedDistributed
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EarningsPerShareBasicandDilutedDistributed
0.92
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EarningsPerShareBasicandDilutedUndistributed
-0.05
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EarningsPerShareBasicandDilutedUndistributed
-0.10
CY2016Q2 ari Earnings Per Share Basicand Diluted Undistributed
EarningsPerShareBasicandDilutedUndistributed
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CY2015Q4 ari Availableforsale Securitiesand Heldtomaturity Securities Accumulated Gross Unrealized Gainbefore Tax
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAccumulatedGrossUnrealizedGainbeforeTax
2614000 USD
CY2016Q2 ari Availableforsale Securitiesand Heldtomaturity Securities Accumulated Gross Unrealized Gainbefore Tax
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAccumulatedGrossUnrealizedGainbeforeTax
1149000 USD
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AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAccumulatedGrossUnrealizedLossbeforeTax
13718000 USD
CY2016Q2 ari Availableforsale Securitiesand Heldtomaturity Securities Accumulated Gross Unrealized Lossbefore Tax
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAccumulatedGrossUnrealizedLossbeforeTax
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CY2015Q4 ari Availableforsale Securitiesand Heldtomaturity Securities Amortized Cost Basis
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAmortizedCostBasis
657446000 USD
CY2016Q2 ari Availableforsale Securitiesand Heldtomaturity Securities Amortized Cost Basis
AvailableforsaleSecuritiesandHeldtomaturitySecuritiesAmortizedCostBasis
642327000 USD
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664732000 USD
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PaymentsForSecuritiesSoldUnderAgreementsToRepurchase
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dei Document Fiscal Year Focus
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dei Document Period End Date
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dei Document Type
DocumentType
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dei Entity Central Index Key
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dei Entity Filer Category
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CY2015Q2 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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CY2016Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
46918000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
93723000 USD
us-gaap Interest Paid
InterestPaid
20186000 USD
us-gaap Interest Paid
InterestPaid
26991000 USD
CY2015Q4 us-gaap Interest Receivable
InterestReceivable
16908000 USD
CY2016Q2 us-gaap Interest Receivable
InterestReceivable
19185000 USD
CY2015Q2 us-gaap Investment Income Interest
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8265000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
16553000 USD
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
7607000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
15656000 USD
CY2015Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
22583000 USD
CY2016Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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23571000 USD
CY2015Q4 us-gaap Liabilities
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1337166000 USD
CY2016Q2 us-gaap Liabilities
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1647564000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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2712590000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2979087000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
427768000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
220448000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-460056000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-294322000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40495000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
45090000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
24658000 USD
us-gaap Net Income Loss
NetIncomeLoss
50169000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
10338000 USD
us-gaap Net Income Loss
NetIncomeLoss
28956000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22798000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
46449000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4478000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17281000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3170000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5483000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-26964000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-45606000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
5946000 USD
us-gaap Operating Expenses
OperatingExpenses
11642000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
10164000 USD
us-gaap Operating Expenses
OperatingExpenses
23575000 USD
CY2015Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
0 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
0 USD
CY2016Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
15000000 USD
CY2015Q4 us-gaap Other Assets
OtherAssets
236000 USD
CY2016Q2 us-gaap Other Assets
OtherAssets
9297000 USD
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
738000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-360000 USD
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-492000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
426000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
426000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
678000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
0 USD
CY2015Q2 us-gaap Other Income
OtherIncome
6000 USD
us-gaap Other Income
OtherIncome
16000 USD
CY2016Q2 us-gaap Other Income
OtherIncome
22000 USD
us-gaap Other Income
OtherIncome
25000 USD
CY2015Q4 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
118201000 USD
CY2016Q2 us-gaap Participating Mortgage Loans Participation Liabilities Amount
ParticipatingMortgageLoansParticipationLiabilitiesAmount
114387000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
327000 USD
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
45254000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
63183000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
3720000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
12786000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2830000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2846000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
279000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
45000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
3929000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
362000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
8000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 USD
CY2015Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1860000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3720000 USD
CY2016Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5860000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11675000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
28474000 USD
us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
36044000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
0 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
5989000 USD
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
20794000 USD
us-gaap Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
193430000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
17291000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
125000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
51000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
15000000 USD
CY2015Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3887000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
7228000 USD
CY2016Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
5242000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
10471000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
30127000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
67438000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-32328000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-77939000 USD
CY2015Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
918421000 USD
CY2016Q2 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
1217935000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1817000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1258000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1375424000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
1331523000 USD
CY2015Q4 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
493149000 USD
CY2016Q2 us-gaap Trading Securities Pledged As Collateral
TradingSecuritiesPledgedAsCollateral
452704000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-3197000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-6241000 USD
CY2016Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
13408000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
12026000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-2273000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
1136000 USD
CY2016Q2 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-11728000 USD
us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
-26802000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59022217 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54621401 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68374557 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68351137 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58429155 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54020978 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67402311 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67393751 shares

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