2015 Q1 Form 10-Q Financial Statement

#000089056415000021 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $430.0M $406.9M
YoY Change 5.7% 15.63%
Cost Of Revenue $294.2M $278.7M
YoY Change 5.55% 3.63%
Gross Profit $135.9M $128.2M
YoY Change 6.02% 25.93%
Gross Profit Margin 31.6% 31.5%
Selling, General & Admin $105.9M $96.11M
YoY Change 10.22% 17.38%
% of Gross Profit 77.97% 74.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.665M $8.959M
YoY Change -3.28% 23.67%
% of Gross Profit 6.38% 6.99%
Operating Expenses $105.9M $96.11M
YoY Change 10.22% 17.38%
Operating Profit $25.07M $26.51M
YoY Change -5.42% 15.98%
Interest Expense $3.067M $3.328M
YoY Change -7.84% -34.69%
% of Operating Profit 12.23% 12.55%
Other Income/Expense, Net
YoY Change
Pretax Income $22.00M $23.18M
YoY Change -5.07% 30.53%
Income Tax $8.981M $9.575M
% Of Pretax Income 40.82% 41.31%
Net Earnings $39.14M $13.92M
YoY Change 181.2% -43.46%
Net Earnings / Revenue 9.1% 3.42%
Basic Earnings Per Share $0.76 $0.26
Diluted Earnings Per Share $0.75 $0.25
COMMON SHARES
Basic Shares Outstanding 51.52M shares 54.10M shares
Diluted Shares Outstanding 52.21M shares 54.98M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.40M $23.40M
YoY Change 226.5% 98.31%
Cash & Equivalents $76.36M $23.39M
Short-Term Investments
Other Short-Term Assets $11.16M $3.055M
YoY Change 265.3% -67.94%
Inventory
Prepaid Expenses $4.712M $6.383M
Receivables $287.8M $277.6M
Other Receivables $13.80M $20.00M
Total Short-Term Assets $409.8M $347.6M
YoY Change 17.88% 17.7%
LONG-TERM ASSETS
Property, Plant & Equipment $44.95M $40.19M
YoY Change 11.85% 44.88%
Goodwill $510.2M $575.2M
YoY Change -11.31% 15.6%
Intangibles $423.7M $468.4M
YoY Change -9.53% 8.9%
Long-Term Investments
YoY Change
Other Assets $7.339M $9.073M
YoY Change -19.11% -37.12%
Total Long-Term Assets $807.9M $906.8M
YoY Change -10.91% 13.62%
TOTAL ASSETS
Total Short-Term Assets $409.8M $347.6M
Total Long-Term Assets $807.9M $906.8M
Total Assets $1.218B $1.254B
YoY Change -2.93% 14.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.157M $5.687M
YoY Change 8.26% 4.29%
Accrued Expenses $100.1M $109.2M
YoY Change -8.33% 38.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $18.30M $18.30M
YoY Change 0.0% 83.0%
Total Short-Term Liabilities $154.7M $157.2M
YoY Change -1.58% 21.93%
LONG-TERM LIABILITIES
Long-Term Debt $316.3M $375.6M
YoY Change -15.78% 0.53%
Other Long-Term Liabilities $8.072M $11.60M
YoY Change -30.41% 87.1%
Total Long-Term Liabilities $324.4M $387.2M
YoY Change -16.21% 1.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $154.7M $157.2M
Total Long-Term Liabilities $324.4M $387.2M
Total Liabilities $542.8M $593.9M
YoY Change -8.6% 11.71%
SHAREHOLDERS EQUITY
Retained Earnings $192.5M $160.1M
YoY Change 20.2% 85.53%
Common Stock $490.6M $500.3M
YoY Change -1.93% 4.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $674.8M $660.5M
YoY Change
Total Liabilities & Shareholders Equity $1.218B $1.254B
YoY Change -2.93% 14.72%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $39.14M $13.92M
YoY Change 181.2% -43.46%
Depreciation, Depletion And Amortization $8.665M $8.959M
YoY Change -3.28% 23.67%
Cash From Operating Activities $19.94M -$4.321M
YoY Change -561.54% -220.87%
INVESTING ACTIVITIES
Capital Expenditures $8.000M $4.020M
YoY Change 99.0% 44.34%
Acquisitions $222.0K
YoY Change
Other Investing Activities -$12.00K -$130.0K
YoY Change -90.77% -107.7%
Cash From Investing Activities $106.9M -$3.890M
YoY Change -2847.97% -115.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.645M $0.00
YoY Change
Debt Paid & Issued, Net $80.56M $105.5M
YoY Change -23.64% 145.35%
Cash From Financing Activities -$81.49M -$5.359M
YoY Change 1420.56% -87.66%
NET CHANGE
Cash From Operating Activities $19.94M -$4.321M
Cash From Investing Activities $106.9M -$3.890M
Cash From Financing Activities -$81.49M -$5.359M
Net Change In Cash $45.35M -$13.57M
YoY Change -434.21% -12.03%
FREE CASH FLOW
Cash From Operating Activities $19.94M -$4.321M
Capital Expenditures $8.000M $4.020M
Free Cash Flow $11.94M -$8.341M
YoY Change -243.18% -1155.82%

Facts In Submission

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409000 USD
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0.01
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14584000 USD
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-12445000 USD
CY2015Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2015Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.50
CY2014Q1 us-gaap Income Tax Expense Benefit
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9575000 USD
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CY2015Q1 us-gaap Income Taxes Paid Net
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CY2014Q1 us-gaap Increase Decrease In Accounts Payable
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-3006000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
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205000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
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16476000 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Salaries
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599000 USD
CY2015Q1 us-gaap Increase Decrease In Accrued Salaries
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3160000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Capital Net
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3622000 USD
CY2015Q1 us-gaap Increase Decrease In Other Operating Capital Net
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2868000 USD
CY2014Q1 us-gaap Increase Decrease In Workers Compensation Liabilities
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-920000 USD
CY2015Q1 us-gaap Increase Decrease In Workers Compensation Liabilities
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-309000 USD
CY2014Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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871000 shares
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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690000 shares
CY2014Q4 us-gaap Indefinite Lived Trademarks
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178325000 USD
CY2015Q1 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
178325000 USD
CY2014Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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341352000 USD
CY2015Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
340791000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
250609000 USD
CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
245410000 USD
CY2014Q1 us-gaap Interest Expense
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3328000 USD
CY2015Q1 us-gaap Interest Expense
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3067000 USD
CY2014Q1 us-gaap Interest Paid Net
InterestPaidNet
3087000 USD
CY2015Q1 us-gaap Interest Paid Net
InterestPaidNet
2695000 USD
CY2014Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0 USD
CY2015Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
3200000 USD
CY2014Q4 us-gaap Liabilities
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639766000 USD
CY2015Q1 us-gaap Liabilities
Liabilities
542810000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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1274174000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1217638000 USD
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165566000 USD
CY2015Q1 us-gaap Liabilities Current
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154691000 USD
CY2014Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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0 USD
CY2014Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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20195000 USD
CY2015Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 USD
CY2014Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
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5567000 USD
CY2015Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
0 USD
CY2014Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
900000 USD
CY2015Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
900000 USD
CY2015Q1 us-gaap Long Term Debt
LongTermDebt
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CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
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180312000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
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7937000 USD
CY2015Q1 us-gaap Other Liabilities Noncurrent
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18250000 USD
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
104063000 USD
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
18250000 USD
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
18250000 USD
CY2015Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
13688000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
396875000 USD
CY2015Q1 us-gaap Long Term Debt Noncurrent
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316313000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-81487000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3890000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
106896000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4321000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
19943000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
13917000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
39135000 USD
CY2015Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
26508000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
25071000 USD
CY2014Q4 us-gaap Other Assets Current
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3121000 USD
CY2015Q1 us-gaap Other Assets Current
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11160000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
7617000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
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7339000 USD
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-44000 USD
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3724000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3677000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
44000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
47000 USD
CY2014Q4 us-gaap Other Liabilities Current
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20729000 USD
CY2015Q1 us-gaap Other Liabilities Current
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17740000 USD
CY2015Q1 us-gaap Other Long Term Debt Current
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18250000 USD
CY2014Q1 us-gaap Other Noncash Income
OtherNoncashIncome
-2029000 USD
CY2015Q1 us-gaap Other Noncash Income
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-1930000 USD
CY2014Q1 us-gaap Other Payments To Acquire Businesses
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691000 USD
CY2015Q1 us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
0 USD
CY2014Q1 us-gaap Payments For Other Taxes
PaymentsForOtherTaxes
3277000 USD
CY2015Q1 us-gaap Payments For Other Taxes
PaymentsForOtherTaxes
3991000 USD
CY2014Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-130000 USD
CY2015Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-12000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1645000 USD
CY2014Q1 us-gaap Payments Of Debt Issuance Costs
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446000 USD
CY2015Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
486000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4020000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8000000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense Current
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13308000 USD
CY2015Q1 us-gaap Prepaid Expense Current
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4712000 USD
CY2015Q1 us-gaap Proceeds From Divestiture Of Businesses
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123000000 USD
CY2014Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
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0 USD
CY2015Q1 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
114884000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
99500000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
CY2014Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2967000 USD
CY2015Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
3555000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
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44311000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
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44954000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
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105500000 USD
CY2015Q1 us-gaap Repayments Of Long Term Debt
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80563000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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154562000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
192457000 USD
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
406851000 USD
CY2015Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
430045000 USD
CY2014Q1 us-gaap Secured Debt
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415125000 USD
CY2015Q1 us-gaap Secured Debt
SecuredDebt
334563000 USD
CY2014Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
2200000 USD
CY2015Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
1900000 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
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96109000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
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105935000 USD
CY2014Q1 us-gaap Share Based Compensation
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3190000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3954000 USD
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
43000 shares
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1600000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
634408000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
674828000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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54975000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52209000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54104000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51519000 shares

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