2018 Q1 Form 10-Q Financial Statement

#000166613818000047 Filed on May 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $445.0M $372.8M
YoY Change 19.37% 5.59%
Cost Of Revenue $335.8M $285.2M
YoY Change 17.76% 9.0%
Gross Profit $109.2M $87.61M
YoY Change 24.6% -4.16%
Gross Profit Margin 24.53% 23.5%
Selling, General & Admin $60.12M $51.73M
YoY Change 16.23% -4.53%
% of Gross Profit 55.07% 59.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.85M $13.27M
YoY Change 19.44% 0.18%
% of Gross Profit 14.52% 15.15%
Operating Expenses $60.12M $51.73M
YoY Change 16.23% -4.53%
Operating Profit $41.27M $30.39M
YoY Change 35.81% -4.01%
Interest Expense -$9.286M -$5.231M
YoY Change 77.52% -50.5%
% of Operating Profit -22.5% -17.21%
Other Income/Expense, Net $25.96M $6.150M
YoY Change 322.15%
Pretax Income $57.95M $31.31M
YoY Change 85.08% 37.61%
Income Tax $15.39M $12.38M
% Of Pretax Income 26.56% 39.52%
Net Earnings $42.56M $18.94M
YoY Change 124.76% 35.18%
Net Earnings / Revenue 9.56% 5.08%
Basic Earnings Per Share $0.83 $0.30
Diluted Earnings Per Share $0.79 $0.28
COMMON SHARES
Basic Shares Outstanding 51.37M shares 63.25M shares
Diluted Shares Outstanding 54.00M shares 66.89M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.90M $77.90M
YoY Change -1.28% -42.08%
Cash & Equivalents $76.89M $77.93M
Short-Term Investments
Other Short-Term Assets $29.80M $28.30M
YoY Change 5.3% 3.66%
Inventory $202.5M $184.9M
Prepaid Expenses
Receivables $245.4M $196.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $554.6M $487.5M
YoY Change 13.76% -3.95%
LONG-TERM ASSETS
Property, Plant & Equipment $211.8M $195.4M
YoY Change 8.4% -8.77%
Goodwill $169.1M $115.8M
YoY Change 46.0%
Intangibles $310.2M $243.9M
YoY Change 27.19%
Long-Term Investments
YoY Change
Other Assets $6.400M $8.000M
YoY Change -20.0% -46.67%
Total Long-Term Assets $697.5M $563.1M
YoY Change 23.86% -7.85%
TOTAL ASSETS
Total Short-Term Assets $554.6M $487.5M
Total Long-Term Assets $697.5M $563.1M
Total Assets $1.252B $1.051B
YoY Change 19.17% -6.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $123.4M $112.7M
YoY Change 9.48% 3.58%
Accrued Expenses $56.95M $46.05M
YoY Change 23.68% -9.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.700M $4.200M
YoY Change 83.33% 121.05%
Total Short-Term Liabilities $217.7M $185.1M
YoY Change 17.62% -4.26%
LONG-TERM LIABILITIES
Long-Term Debt $900.6M $488.5M
YoY Change 84.36% -22.51%
Other Long-Term Liabilities $23.86M $18.01M
YoY Change 32.46% -77.95%
Total Long-Term Liabilities $924.4M $506.5M
YoY Change 82.52% -28.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $217.7M $185.1M
Total Long-Term Liabilities $924.4M $506.5M
Total Liabilities $1.190B $743.9M
YoY Change 59.96% -20.81%
SHAREHOLDERS EQUITY
Retained Earnings -$354.3M -$76.83M
YoY Change 361.2%
Common Stock $435.3M $412.4M
YoY Change 5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.580M $2.580M
YoY Change 0.0%
Treasury Stock Shares 260.9K shares 260.9K shares
Shareholders Equity $62.08M $306.7M
YoY Change
Total Liabilities & Shareholders Equity $1.252B $1.051B
YoY Change 19.17% -6.08%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $42.56M $18.94M
YoY Change 124.76% 35.18%
Depreciation, Depletion And Amortization $15.85M $13.27M
YoY Change 19.44% 0.18%
Cash From Operating Activities $4.300M -$7.100M
YoY Change -160.56% -123.43%
INVESTING ACTIVITIES
Capital Expenditures -$9.000M -$4.400M
YoY Change 104.55% 2.33%
Acquisitions
YoY Change
Other Investing Activities $39.30M $100.0K
YoY Change 39200.0%
Cash From Investing Activities $30.40M -$4.400M
YoY Change -790.91% 2.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.800M 1.200M
YoY Change 50.0% -106.42%
NET CHANGE
Cash From Operating Activities 4.300M -7.100M
Cash From Investing Activities 30.40M -4.400M
Cash From Financing Activities 1.800M 1.200M
Net Change In Cash 36.50M -10.30M
YoY Change -454.37% -241.1%
FREE CASH FLOW
Cash From Operating Activities $4.300M -$7.100M
Capital Expenditures -$9.000M -$4.400M
Free Cash Flow $13.30M -$2.700M
YoY Change -592.59% -107.8%

Facts In Submission

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us-gaap Number Of Operating Segments
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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CY2018Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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3350000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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8374000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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CY2017Q1 us-gaap Pension Contributions
PensionContributions
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us-gaap Pension Contributions
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CY2018Q1 us-gaap Pension Contributions
PensionContributions
493000 USD
us-gaap Pension Contributions
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987000 USD
CY2017Q3 us-gaap Percentage Of Lifo Inventory
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us-gaap Proceeds From Divestiture Of Businesses
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0 USD
us-gaap Proceeds From Long Term Lines Of Credit
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309000000 USD
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CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2017Q3 us-gaap Property Plant And Equipment Net
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CY2018Q1 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
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CY2018Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Restructuring Reserve Translation And Other Adjustment
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CY2017Q1 us-gaap Restructuring Settlement And Impairment Provisions
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CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q1 us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2018Q1 us-gaap Sales Revenue Net
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CY2017Q1 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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95652000 USD
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
6334000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
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StockIssuedDuringPeriodValueNewIssues
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us-gaap Stock Issued During Period Value New Issues
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CY2015Q3 us-gaap Stockholders Equity
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CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q3 us-gaap Treasury Stock Shares
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CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2018Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
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us-gaap Unrecognized Tax Benefits Period Increase Decrease
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CY2017Q3 us-gaap Treasury Stock Value
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CY2018Q1 us-gaap Treasury Stock Value
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us-gaap Treasury Stock Value Acquired Cost Method
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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Fiscal Period
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fiscal Periods &#8212;</font><font style="font-family:inherit;font-size:10pt;"> The Company has a fiscal year that ends on September 30. It is the Company's practice to establish quarterly closings using a 4-5-4 calendar. The Company's fiscal quarters end on the last Friday in December, March and June.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates &#8212;</font><font style="font-family:inherit;font-size:10pt;"> The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclose contingent assets and liabilities at the date of the condensed consolidated financial statements and report the associated amounts of revenues and expenses. Actual results could differ materially from these estimates.</font></div></div>

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