2017 Q1 Form 10-Q Financial Statement

#000146241817000014 Filed on April 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $240.5M $250.1M
YoY Change -3.86% 4.01%
Cost Of Revenue $178.0M $168.9M
YoY Change 5.38% -2.29%
Gross Profit $62.53M $81.27M
YoY Change -23.06% 20.12%
Gross Profit Margin 26.0% 32.49%
Selling, General & Admin $47.70M $53.62M
YoY Change -11.03% 2.31%
% of Gross Profit 76.28% 65.97%
Research & Development $11.35M $9.940M
YoY Change 14.2% -16.42%
% of Gross Profit 18.15% 12.23%
Depreciation & Amortization $19.10M $21.40M
YoY Change -10.75% 20.9%
% of Gross Profit 30.55% 26.33%
Operating Expenses $59.05M $63.56M
YoY Change -7.09% -1.16%
Operating Profit $14.83M $27.65M
YoY Change -46.37% 81.33%
Interest Expense $5.798M $6.541M
YoY Change -11.36% -8.65%
% of Operating Profit 39.1% 23.65%
Other Income/Expense, Net -$5.083M -$6.568M
YoY Change -22.61% -37.1%
Pretax Income $9.746M $21.09M
YoY Change -53.78% 338.54%
Income Tax $2.586M $2.193M
% Of Pretax Income 26.53% 10.4%
Net Earnings $7.160M $18.89M
YoY Change -62.1% 328.58%
Net Earnings / Revenue 2.98% 7.55%
Basic Earnings Per Share $0.35 $0.98
Diluted Earnings Per Share $0.34 $0.92
COMMON SHARES
Basic Shares Outstanding 18.66M shares 18.86M shares
Diluted Shares Outstanding 19.30M shares 20.04M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.8M $190.1M
YoY Change 3.0% 80.02%
Cash & Equivalents $117.1M $159.7M
Short-Term Investments $78.70M $30.40M
Other Short-Term Assets $7.470M $8.781M
YoY Change -14.93% 81.09%
Inventory
Prepaid Expenses $7.796M $7.768M
Receivables $83.04M $97.65M
Other Receivables $9.200M $2.000M
Total Short-Term Assets $310.7M $314.5M
YoY Change -1.21% 10.28%
LONG-TERM ASSETS
Property, Plant & Equipment $96.02M $116.9M
YoY Change -17.88% -7.58%
Goodwill $86.28M $82.80M
YoY Change 4.21% -8.86%
Intangibles
YoY Change
Long-Term Investments $5.800M $5.600M
YoY Change 3.57%
Other Assets $11.63M $13.25M
YoY Change -12.21% -39.22%
Total Long-Term Assets $342.8M $401.1M
YoY Change -14.54% -15.65%
TOTAL ASSETS
Total Short-Term Assets $310.7M $314.5M
Total Long-Term Assets $342.8M $401.1M
Total Assets $653.5M $715.6M
YoY Change -8.68% -5.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.50M $16.96M
YoY Change -26.33% 21.81%
Accrued Expenses $31.73M $28.62M
YoY Change 10.85% -9.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $5.945M $5.945M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $104.9M $117.6M
YoY Change -10.8% 3.65%
LONG-TERM LIABILITIES
Long-Term Debt $466.5M $521.2M
YoY Change -10.49% -10.34%
Other Long-Term Liabilities $9.686M $14.82M
YoY Change -34.65% -30.53%
Total Long-Term Liabilities $476.2M $536.0M
YoY Change -11.16% -11.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.9M $117.6M
Total Long-Term Liabilities $476.2M $536.0M
Total Liabilities $581.1M $653.6M
YoY Change -11.09% -8.73%
SHAREHOLDERS EQUITY
Retained Earnings $336.5M $385.5M
YoY Change -12.69% 4.19%
Common Stock $134.3M $123.6M
YoY Change 8.67% 5.32%
Preferred Stock
YoY Change
Treasury Stock (at cost) $410.9M $449.0M
YoY Change -8.49% 0.56%
Treasury Stock Shares 7.000M shares 6.810M shares
Shareholders Equity $70.91M $60.72M
YoY Change
Total Liabilities & Shareholders Equity $653.5M $715.6M
YoY Change -8.68% -5.93%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $7.160M $18.89M
YoY Change -62.1% 328.58%
Depreciation, Depletion And Amortization $19.10M $21.40M
YoY Change -10.75% 20.9%
Cash From Operating Activities -$18.36M $29.03M
YoY Change -163.23% -282.6%
INVESTING ACTIVITIES
Capital Expenditures $1.944M $5.984M
YoY Change -67.51% 52.23%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$16.00K
YoY Change -100.0% -500.0%
Cash From Investing Activities -$1.944M -$35.40M
YoY Change -94.51% 4.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.59M $11.69M
YoY Change -9.42% 195.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$11.89M -$13.26M
YoY Change -10.3% 124.73%
NET CHANGE
Cash From Operating Activities -$18.36M $29.03M
Cash From Investing Activities -$1.944M -$35.40M
Cash From Financing Activities -$11.89M -$13.26M
Net Change In Cash -$32.20M -$19.62M
YoY Change 64.08% -64.77%
FREE CASH FLOW
Cash From Operating Activities -$18.36M $29.03M
Capital Expenditures $1.944M $5.984M
Free Cash Flow -$20.30M $23.05M
YoY Change -188.08% -216.23%

Facts In Submission

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CY2017Q1 us-gaap Interest Expense
InterestExpense
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CY2016Q1 us-gaap Interest Income Other
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InterestIncomeOther
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CY2017Q1 us-gaap Interest Paid
InterestPaid
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CY2017Q1 us-gaap Investment Income Dividend
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600000 USD
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12506000 USD
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653483000 USD
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5945000 USD
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LongTermDebtCurrent
5945000 USD
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466510000 USD
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32000000 USD
CY2017Q1 us-gaap Loss Contingency Accrual Carrying Value Current
LossContingencyAccrualCarryingValueCurrent
0 USD
CY2017Q1 us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
32000000 USD
CY2016Q4 us-gaap Loss Contingency Receivable Current
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4000000 USD
CY2017Q1 us-gaap Loss Contingency Receivable Current
LossContingencyReceivableCurrent
0 USD
CY2017Q1 us-gaap Loss Contingency Related Receivable Carrying Value Receipts
LossContingencyRelatedReceivableCarryingValueReceipts
4000000 USD
CY2016Q1 us-gaap Marketing Expense
MarketingExpense
6492000 USD
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MarketingExpense
4269000 USD
CY2016Q4 us-gaap Minority Interest
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CY2017Q1 us-gaap Minority Interest
MinorityInterest
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CY2016Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
448000 USD
CY2017Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
569000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
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NetCashProvidedByUsedInInvestingActivities
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CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
29034000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18359000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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398000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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615000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18494000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6545000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-6568000 USD
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-5083000 USD
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NumberOfReportableSegments
2 segment
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OccupancyNet
9083000 USD
CY2017Q1 us-gaap Occupancy Net
OccupancyNet
10273000 USD
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OperatingIncomeLoss
27653000 USD
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OperatingIncomeLoss
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6888000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
7470000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Noncurrent
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767000 USD
CY2017Q1 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
967000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
11255000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
289000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
4725000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
699000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
12723000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
19061000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
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CY2016Q4 us-gaap Other Liabilities Noncurrent
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10480000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9686000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-27000 USD
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OtherNonoperatingIncomeExpense
715000 USD
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OtherSellingGeneralAndAdministrativeExpense
2494000 USD
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OtherSellingGeneralAndAdministrativeExpense
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OtherSundryLiabilitiesCurrent
11924000 USD
CY2017Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
9036000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
4800000 USD
CY2017Q1 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
4597000 USD
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-16000 USD
CY2017Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11691000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10590000 USD
us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
18800000 USD
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
29429000 USD
CY2017Q1 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
0 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5984000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1944000 USD
CY2016Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
448000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
569000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
42608000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
47357000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6919000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7796000 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
366000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
752000 USD
CY2016Q1 us-gaap Professional Fees
ProfessionalFees
6740000 USD
CY2017Q1 us-gaap Professional Fees
ProfessionalFees
3730000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
18892000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
7160000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
232870000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
234760000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
103473000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
96023000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
876000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1903000 USD
CY2016Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
13025000 USD
CY2017Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
15532000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1486000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1486000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4127000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4127000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4127000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4127000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
333786000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
336527000 USD
CY2016Q1 us-gaap Revenues
Revenues
250132000 USD
CY2017Q1 us-gaap Revenues
Revenues
240483000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
53616000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47701000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1877000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
695000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
27.50
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
601000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
868000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.77
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.00
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
187000 USD
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
89000 USD
CY2016Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
366000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
752000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
60789000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
70914000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52270000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
61965000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
62194000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
72365000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
6639000 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
7000000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
403953000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
410919000 USD
CY2016Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
11691000 USD
CY2017Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10590000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20040000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19304000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18855000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18662000 shares

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