2013 Q1 Form 10-Q Financial Statement

#000110465913032758 Filed on April 25, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $148.8M $139.1M
YoY Change 7.02% 56.84%
Cost Of Revenue $96.96M $91.76M
YoY Change 5.67% 67.14%
Gross Profit $51.87M $47.31M
YoY Change 9.64% 40.29%
Gross Profit Margin 34.85% 34.02%
Selling, General & Admin $18.68M $17.02M
YoY Change 9.79% 18.16%
% of Gross Profit 36.02% 35.97%
Research & Development $5.491M $5.124M
YoY Change 7.16%
% of Gross Profit 10.59% 10.83%
Depreciation & Amortization $5.900M $3.600M
YoY Change 63.89% 12.5%
% of Gross Profit 11.38% 7.61%
Operating Expenses $24.17M $22.14M
YoY Change 9.18% 35.82%
Operating Profit $33.19M $30.29M
YoY Change 9.55% 73.88%
Interest Expense $3.212M $15.00K
YoY Change 21313.33% -95.0%
% of Operating Profit 9.68% 0.05%
Other Income/Expense, Net -$2.507M -$351.0K
YoY Change 614.25%
Pretax Income $30.68M $29.94M
YoY Change 2.46% 68.1%
Income Tax $2.151M $2.819M
% Of Pretax Income 7.01% 9.42%
Net Earnings $28.53M $27.12M
YoY Change 5.18% 68.2%
Net Earnings / Revenue 19.17% 19.5%
Basic Earnings Per Share $1.18 $1.08
Diluted Earnings Per Share $1.10 $1.02
COMMON SHARES
Basic Shares Outstanding 23.37M shares 23.38M shares
Diluted Shares Outstanding 25.06M shares 24.84M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $77.30M $26.70M
YoY Change 189.51% 1.52%
Cash & Equivalents $83.94M $26.67M
Short-Term Investments
Other Short-Term Assets $107.0K $7.400M
YoY Change -98.55% 12.12%
Inventory
Prepaid Expenses $2.954M
Receivables $109.2M $62.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $210.1M $96.30M
YoY Change 118.15% 7.72%
LONG-TERM ASSETS
Property, Plant & Equipment $53.34M $39.10M
YoY Change 36.43% 131.36%
Goodwill $14.92M
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $14.10M
YoY Change -100.0% 1181.82%
Other Assets $13.25M $13.30M
YoY Change -0.38% 95.59%
Total Long-Term Assets $221.4M $144.2M
YoY Change 53.51% 34.77%
TOTAL ASSETS
Total Short-Term Assets $210.1M $96.30M
Total Long-Term Assets $221.4M $144.2M
Total Assets $431.4M $240.5M
YoY Change 79.39% 22.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.13M $6.300M
YoY Change 60.76% -5.97%
Accrued Expenses $19.16M $29.00M
YoY Change -33.93% 47.96%
Deferred Revenue
YoY Change
Short-Term Debt $2.900M $0.00
YoY Change
Long-Term Debt Due $2.000M $600.0K
YoY Change 233.33% -14.29%
Total Short-Term Liabilities $66.95M $61.90M
YoY Change 8.15% 84.78%
LONG-TERM LIABILITIES
Long-Term Debt $195.6M $100.0K
YoY Change 195522.0% -85.71%
Other Long-Term Liabilities $1.703M $2.500M
YoY Change -31.88% -16.67%
Total Long-Term Liabilities $197.3M $2.600M
YoY Change 7489.42% -29.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.95M $61.90M
Total Long-Term Liabilities $197.3M $2.600M
Total Liabilities $264.3M $67.50M
YoY Change 291.51% 74.42%
SHAREHOLDERS EQUITY
Retained Earnings $151.4M
YoY Change
Common Stock $113.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $99.29M
YoY Change
Treasury Stock Shares 2.236M shares
Shareholders Equity $165.9M $173.0M
YoY Change
Total Liabilities & Shareholders Equity $431.4M $240.5M
YoY Change 79.39% 22.45%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $28.53M $27.12M
YoY Change 5.18% 68.2%
Depreciation, Depletion And Amortization $5.900M $3.600M
YoY Change 63.89% 12.5%
Cash From Operating Activities $9.600M $27.80M
YoY Change -65.47% 67.47%
INVESTING ACTIVITIES
Capital Expenditures $6.960M $16.15M
YoY Change -56.91% -1253.86%
Acquisitions $75.82M
YoY Change
Other Investing Activities $50.00K $0.00
YoY Change -100.0%
Cash From Investing Activities -$7.800M -$16.20M
YoY Change -51.85% 523.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $22.00M $16.78M
YoY Change 31.08%
Debt Paid & Issued, Net $500.0K
YoY Change
Cash From Financing Activities -23.30M -17.10M
YoY Change 36.26% 74.49%
NET CHANGE
Cash From Operating Activities 9.600M 27.80M
Cash From Investing Activities -7.800M -16.20M
Cash From Financing Activities -23.30M -17.10M
Net Change In Cash -21.50M -5.500M
YoY Change 290.91% -230.95%
FREE CASH FLOW
Cash From Operating Activities $9.600M $27.80M
Capital Expenditures $6.960M $16.15M
Free Cash Flow $2.640M $11.65M
YoY Change -77.33% -35.3%

Facts In Submission

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23176918 shares
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2012Q1 us-gaap Minority Interest Increase From Stock Issuance
MinorityInterestIncreaseFromStockIssuance
11000 USD
CY2012Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2083000 USD
CY2012Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-184000 USD
CY2012Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1977000 USD
CY2012Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
16781000 USD
CY2012Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
176004000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
159829000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
28527000 USD
CY2013Q1 us-gaap Minority Interest Increase From Stock Issuance
MinorityInterestIncreaseFromStockIssuance
12000 USD
CY2013Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1090000 USD
CY2013Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1424000 USD
CY2013Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
456000 USD
CY2013Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
21997000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
167161000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
77303000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
105502000 USD
CY2013Q1 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
1775000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
1775000 USD
CY2013Q1 us-gaap Assets Current
AssetsCurrent
210076000 USD
CY2012Q4 us-gaap Assets Current
AssetsCurrent
203850000 USD
CY2013Q1 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
4073000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
4073000 USD
CY2013Q1 us-gaap Goodwill
Goodwill
14915000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
14915000 USD
CY2012Q4 us-gaap Equity Method Investments
EquityMethodInvestments
12729000 USD
CY2013Q1 us-gaap Common Stock Value
CommonStockValue
25413000 USD
CY2012Q4 us-gaap Notes Receivable Related Parties Current
NotesReceivableRelatedPartiesCurrent
75000000 USD
CY2013Q1 us-gaap Assets
Assets
431432000 USD
CY2012Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
82780000 USD
CY2012Q4 us-gaap Assets
Assets
429226000 USD
CY2013Q1 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
57000 USD
CY2012Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
233000 USD
CY2012Q1 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
574000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1424000 USD
CY2012Q4 us-gaap Common Stock Value
CommonStockValue
25413000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-184000 USD
CY2013Q1 asps Provision For Doubtful Accounts Cash Flow Impact
ProvisionForDoubtfulAccountsCashFlowImpact
224000 USD
CY2013Q1 us-gaap Liabilities Current
LiabilitiesCurrent
66946000 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
71632000 USD
CY2013Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1703000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1738000 USD
CY2013Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
88297000 USD
CY2012Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
86873000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
151441000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
124127000 USD
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
99291000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
77954000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
165860000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
158459000 USD
CY2013Q1 us-gaap Minority Interest
MinorityInterest
1301000 USD
CY2012Q4 us-gaap Minority Interest
MinorityInterest
1370000 USD
CY2013Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
431432000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
429226000 USD
CY2013Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2013Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2012Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2013Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25413000 shares
CY2012Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
25413000 shares
CY2013Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23177000 shares
CY2012Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23427000 shares
CY2013Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
2236000 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1986000 shares
CY2012Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-336000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2151000 USD
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2819000 USD
CY2012Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1892000 USD
CY2012Q1 asps Provision For Doubtful Accounts Cash Flow Impact
ProvisionForDoubtfulAccountsCashFlowImpact
649000 USD
CY2012Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-394000 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12968000 USD
CY2012Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10956000 USD
CY2013Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1147000 USD
CY2012Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
377000 USD
CY2013Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1741000 USD
CY2012Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-684000 USD
CY2013Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7805000 USD
CY2012Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2930000 USD
CY2013Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3368000 USD
CY2012Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
3568000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
9556000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
27772000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6960000 USD
CY2012Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16154000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-14460000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-16154000 USD
CY2013Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
82450000 USD
CY2013Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
50000 USD
CY2013Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
176000 USD
CY2012Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
201000 USD
CY2013Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
456000 USD
CY2012Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1977000 USD
CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21997000 USD
CY2012Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
16781000 USD
CY2013Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
12000 USD
CY2012Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
11000 USD
CY2013Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1090000 USD
CY2012Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2083000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-23295000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-17077000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-28199000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-5459000 USD
CY2012Q1 us-gaap Interest Paid
InterestPaid
15000 USD
CY2013Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
402000 USD
CY2012Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
694000 USD
CY2012Q1 asps Tax Amortizable Goodwill
TaxAmortizableGoodwill
842000 USD
CY2013Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
700000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32125000 USD
CY2012Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26666000 USD
CY2013Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-176000 USD
CY2012Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-324000 USD
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
51848000 USD
CY2013Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
112739000 USD
CY2012Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
92229000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
16450 shares
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1009000 USD
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23374000 shares
CY2013Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
90098000 USD
CY2013Q1 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
673000 USD
CY2013Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
95000 USD
CY2013Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
215000 USD
CY2012Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1640000 USD
CY2013Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2954000 USD
CY2013Q1 us-gaap Bank Overdrafts
BankOverdrafts
2857000 USD
CY2013Q1 asps Other Nonoperating Income Expense Other
OtherNonoperatingIncomeExpenseOther
25000 USD
CY2013Q1 us-gaap Interest Expense
InterestExpense
3212000 USD
CY2012Q1 us-gaap Interest Expense
InterestExpense
15000 USD
CY2013Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
500000 USD
CY2013Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
170485000 USD
CY2012Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
163695000 USD
CY2013Q1 asps Business Acquisitions Pro Forma Net Income Loss Available To Common Stockholders Basic
BusinessAcquisitionsProFormaNetIncomeLossAvailableToCommonStockholdersBasic
32815000 USD
CY2012Q1 asps Business Acquisitions Pro Forma Net Income Loss Available To Common Stockholders Basic
BusinessAcquisitionsProFormaNetIncomeLossAvailableToCommonStockholdersBasic
32868000 USD
CY2013Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.31
CY2012Q1 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
1.32

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