2018 Q1 Form 10-Q Financial Statement

#000146241818000021 Filed on April 26, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $197.4M $240.5M
YoY Change -17.9% -3.86%
Cost Of Revenue $147.2M $178.0M
YoY Change -17.28% 5.38%
Gross Profit $50.24M $62.53M
YoY Change -19.65% -23.06%
Gross Profit Margin 25.45% 26.0%
Selling, General & Admin $43.12M $47.70M
YoY Change -9.6% -11.03%
% of Gross Profit 85.83% 76.28%
Research & Development $9.451M $11.35M
YoY Change -16.74% 14.2%
% of Gross Profit 18.81% 18.15%
Depreciation & Amortization $15.80M $19.10M
YoY Change -17.28% -10.75%
% of Gross Profit 31.45% 30.55%
Operating Expenses $52.58M $59.05M
YoY Change -10.97% -7.09%
Operating Profit $7.120M $14.83M
YoY Change -51.99% -46.37%
Interest Expense $5.863M $5.798M
YoY Change 1.12% -11.36%
% of Operating Profit 82.35% 39.1%
Other Income/Expense, Net -$12.09M -$5.083M
YoY Change 137.89% -22.61%
Pretax Income -$4.972M $9.746M
YoY Change -151.02% -53.78%
Income Tax -$1.365M $2.586M
% Of Pretax Income 26.53%
Net Earnings -$2.744M $7.160M
YoY Change -138.32% -62.1%
Net Earnings / Revenue -1.39% 2.98%
Basic Earnings Per Share -$0.24 $0.35
Diluted Earnings Per Share -$0.24 $0.34
COMMON SHARES
Basic Shares Outstanding 17.38M shares 18.66M shares
Diluted Shares Outstanding 17.38M shares 19.30M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.8M $195.8M
YoY Change -15.32% 3.0%
Cash & Equivalents $84.85M $117.1M
Short-Term Investments $81.00M $78.70M
Other Short-Term Assets $10.82M $7.470M
YoY Change 44.89% -14.93%
Inventory
Prepaid Expenses $7.748M $7.796M
Receivables $50.84M $83.04M
Other Receivables $9.700M $9.200M
Total Short-Term Assets $251.3M $310.7M
YoY Change -19.12% -1.21%
LONG-TERM ASSETS
Property, Plant & Equipment $65.59M $96.02M
YoY Change -31.7% -17.88%
Goodwill $86.28M $86.28M
YoY Change 0.0% 4.21%
Intangibles
YoY Change
Long-Term Investments $5.200M $5.800M
YoY Change -10.34% 3.57%
Other Assets $10.01M $11.63M
YoY Change -13.9% -12.21%
Total Long-Term Assets $580.5M $342.8M
YoY Change 69.34% -14.54%
TOTAL ASSETS
Total Short-Term Assets $251.3M $310.7M
Total Long-Term Assets $580.5M $342.8M
Total Assets $831.8M $653.5M
YoY Change 27.28% -8.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.32M $12.50M
YoY Change -9.38% -26.33%
Accrued Expenses $30.63M $31.73M
YoY Change -3.47% 10.85%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.945M $5.945M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $94.56M $104.9M
YoY Change -9.88% -10.8%
LONG-TERM LIABILITIES
Long-Term Debt $401.7M $466.5M
YoY Change -13.89% -10.49%
Other Long-Term Liabilities $15.42M $9.686M
YoY Change 59.15% -34.65%
Total Long-Term Liabilities $417.1M $476.2M
YoY Change -12.4% -11.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.56M $104.9M
Total Long-Term Liabilities $417.1M $476.2M
Total Liabilities $511.7M $581.1M
YoY Change -11.95% -11.09%
SHAREHOLDERS EQUITY
Retained Earnings $600.3M $336.5M
YoY Change 78.37% -12.69%
Common Stock $140.1M $134.3M
YoY Change 4.29% 8.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $421.5M $410.9M
YoY Change 2.57% -8.49%
Treasury Stock Shares 8.070M shares 7.000M shares
Shareholders Equity $318.9M $70.91M
YoY Change
Total Liabilities & Shareholders Equity $831.8M $653.5M
YoY Change 27.28% -8.68%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$2.744M $7.160M
YoY Change -138.32% -62.1%
Depreciation, Depletion And Amortization $15.80M $19.10M
YoY Change -17.28% -10.75%
Cash From Operating Activities -$8.569M -$18.36M
YoY Change -53.33% -163.23%
INVESTING ACTIVITIES
Capital Expenditures $1.258M $1.944M
YoY Change -35.29% -67.51%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.258M -$1.944M
YoY Change -35.29% -94.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.994M $10.59M
YoY Change -5.63% -9.42%
Debt Paid & Issued, Net $1.486M
YoY Change
Cash From Financing Activities -$10.03M -$11.89M
YoY Change -15.66% -10.3%
NET CHANGE
Cash From Operating Activities -$8.569M -$18.36M
Cash From Investing Activities -$1.258M -$1.944M
Cash From Financing Activities -$10.03M -$11.89M
Net Change In Cash -$19.86M -$32.20M
YoY Change -38.32% 64.08%
FREE CASH FLOW
Cash From Operating Activities -$8.569M -$18.36M
Capital Expenditures $1.258M $1.944M
Free Cash Flow -$9.827M -$20.30M
YoY Change -51.6% -188.08%

Facts In Submission

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12723000 USD
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9414000 USD
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569000 USD
CY2018Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
672000 USD
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CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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525000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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-4132000 USD
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-5083000 USD
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12092000 USD
CY2018Q1 us-gaap Number Of Reportable Segments
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2 segment
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10273000 USD
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OccupancyNet
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CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7120000 USD
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692000 USD
CY2018Q1 us-gaap Other Assets Miscellaneous Noncurrent
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538000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
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CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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12723000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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-4725000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
0 USD
CY2018Q1 us-gaap Other Liabilities Current
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6651000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
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12282000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
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15415000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
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715000 USD
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CY2017Q1 us-gaap Other Selling General And Administrative Expense
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CY2018Q1 us-gaap Other Sundry Liabilities Current
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3054000 USD
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4226000 USD
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OtherSundryLiabilitiesNoncurrent
4061000 USD
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10590000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
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9994000 USD
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0 USD
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PaymentsOfDebtRestructuringCosts
496000 USD
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1944000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2017Q1 us-gaap Payments To Minority Shareholders
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569000 USD
CY2018Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
672000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2018Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
752000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2017Q1 us-gaap Professional Fees
ProfessionalFees
3730000 USD
CY2018Q1 us-gaap Professional Fees
ProfessionalFees
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CY2017Q1 us-gaap Profit Loss
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CY2018Q1 us-gaap Profit Loss
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CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1903000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
724000 USD
CY2017Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
29405000 USD
CY2018Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
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1486000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1486000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4100000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4100000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3837000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
4135000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
626600000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
600253000 USD
CY2017Q1 us-gaap Revenues
Revenues
240483000 USD
CY2018Q1 us-gaap Revenues
Revenues
197438000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
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CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
43124000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
695000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2201000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
841472 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
27.81
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
868000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4320000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
96734 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3999000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1745906 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1623617 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.20
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
30.55
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
260697 shares
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
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
16.20
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10202000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
9.14
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
36.35
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
24.95
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2817000 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y11M12D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y11M16D
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M2D
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
89000 USD
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
23000 USD
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
286252 shares
CY2017Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
752000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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2617000 USD
CY2017Q4 us-gaap Stockholders Equity
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338612000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
318856000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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62194000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
72365000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
339985000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
320082000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
7995000 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
8070000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
426609000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
421486000 USD
CY2017Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
10590000 USD
CY2018Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
9994000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Investments
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0 USD
CY2018Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-7501000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19304000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17378000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18662000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17378000 shares

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