2019 Q1 Form 10-Q Financial Statement

#000166613819000049 Filed on May 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $469.3M $445.0M
YoY Change 5.46% 19.37%
Cost Of Revenue $352.2M $335.8M
YoY Change 4.88% 17.76%
Gross Profit $117.1M $109.2M
YoY Change 7.27% 24.6%
Gross Profit Margin 24.95% 24.53%
Selling, General & Admin $56.35M $60.12M
YoY Change -6.27% 16.23%
% of Gross Profit 48.13% 55.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.28M $15.85M
YoY Change 15.31% 19.44%
% of Gross Profit 15.61% 14.52%
Operating Expenses $56.35M $60.12M
YoY Change -6.27% 16.23%
Operating Profit $52.54M $41.27M
YoY Change 27.3% 35.81%
Interest Expense -$13.33M -$9.286M
YoY Change 43.53% 77.52%
% of Operating Profit -25.37% -22.5%
Other Income/Expense, Net $594.0K $25.96M
YoY Change -97.71% 322.15%
Pretax Income $39.81M $57.95M
YoY Change -31.31% 85.08%
Income Tax $10.25M $15.39M
% Of Pretax Income 25.76% 26.56%
Net Earnings $29.56M $42.56M
YoY Change -30.55% 124.76%
Net Earnings / Revenue 6.3% 9.56%
Basic Earnings Per Share $0.62 $0.83
Diluted Earnings Per Share $0.61 $0.79
COMMON SHARES
Basic Shares Outstanding 46.08M shares 51.37M shares
Diluted Shares Outstanding 47.37M shares 54.00M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.50M $76.90M
YoY Change -33.03% -1.28%
Cash & Equivalents $51.50M $76.89M
Short-Term Investments
Other Short-Term Assets $47.40M $29.80M
YoY Change 59.06% 5.3%
Inventory $220.8M $202.5M
Prepaid Expenses
Receivables $319.8M $245.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $639.4M $554.6M
YoY Change 15.31% 13.76%
LONG-TERM ASSETS
Property, Plant & Equipment $240.2M $211.8M
YoY Change 13.38% 8.4%
Goodwill $179.5M $169.1M
YoY Change 6.14% 46.0%
Intangibles $287.8M $310.2M
YoY Change -7.21% 27.19%
Long-Term Investments
YoY Change
Other Assets $3.000M $6.400M
YoY Change -53.13% -20.0%
Total Long-Term Assets $710.5M $697.5M
YoY Change 1.86% 23.86%
TOTAL ASSETS
Total Short-Term Assets $639.4M $554.6M
Total Long-Term Assets $710.5M $697.5M
Total Assets $1.350B $1.252B
YoY Change 7.82% 19.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.7M $123.4M
YoY Change 16.5% 9.48%
Accrued Expenses $40.66M $56.95M
YoY Change -28.6% 23.68%
Deferred Revenue $42.72M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $7.700M
YoY Change -100.0% 83.33%
Total Short-Term Liabilities $252.7M $217.7M
YoY Change 16.1% 17.62%
LONG-TERM LIABILITIES
Long-Term Debt $884.1M $900.6M
YoY Change -1.83% 84.36%
Other Long-Term Liabilities $14.03M $23.86M
YoY Change -41.18% 32.46%
Total Long-Term Liabilities $898.1M $924.4M
YoY Change -2.84% 82.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $252.7M $217.7M
Total Long-Term Liabilities $898.1M $924.4M
Total Liabilities $1.191B $1.190B
YoY Change 0.12% 59.96%
SHAREHOLDERS EQUITY
Retained Earnings -$282.9M -$354.3M
YoY Change -20.14% 361.2%
Common Stock $464.5M $435.3M
YoY Change 6.71% 5.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.580M $2.580M
YoY Change 0.0% 0.0%
Treasury Stock Shares 260.9K shares 260.9K shares
Shareholders Equity $158.5M $62.08M
YoY Change
Total Liabilities & Shareholders Equity $1.350B $1.252B
YoY Change 7.82% 19.17%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $29.56M $42.56M
YoY Change -30.55% 124.76%
Depreciation, Depletion And Amortization $18.28M $15.85M
YoY Change 15.31% 19.44%
Cash From Operating Activities $2.500M $4.300M
YoY Change -41.86% -160.56%
INVESTING ACTIVITIES
Capital Expenditures -$7.800M -$9.000M
YoY Change -13.33% 104.55%
Acquisitions
YoY Change
Other Investing Activities $0.00 $39.30M
YoY Change -100.0% 39200.0%
Cash From Investing Activities -$7.900M $30.40M
YoY Change -125.99% -790.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.60M 1.800M
YoY Change -1188.89% 50.0%
NET CHANGE
Cash From Operating Activities 2.500M 4.300M
Cash From Investing Activities -7.900M 30.40M
Cash From Financing Activities -19.60M 1.800M
Net Change In Cash -25.00M 36.50M
YoY Change -168.49% -454.37%
FREE CASH FLOW
Cash From Operating Activities $2.500M $4.300M
Capital Expenditures -$7.800M -$9.000M
Free Cash Flow $10.30M $13.30M
YoY Change -22.56% -592.59%

Facts In Submission

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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 Payments For Restructuring
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us-gaap Pension Contributions
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Pension Contributions
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CY2019Q1 us-gaap Percentage Of Lifo Inventory
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Reclassification From Aoci Current Period Tax
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us-gaap Repayments Of Long Term Lines Of Credit
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CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2017Q3 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q3 us-gaap Treasury Stock Shares
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CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
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TreasuryStockValue
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CY2019Q1 us-gaap Treasury Stock Value
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CY2018Q1 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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CY2019Q1 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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CY2018Q1 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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CY2019Q1 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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us-gaap Fiscal Period
FiscalPeriod
<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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