2017 Q1 Form 10-Q Financial Statement

#000106918317000081 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $79.24M $55.53M
YoY Change 42.7% 24.06%
Cost Of Revenue $30.57M $18.63M
YoY Change 64.12% 25.07%
Gross Profit $48.67M $36.90M
YoY Change 31.89% 23.55%
Gross Profit Margin 61.42% 66.45%
Selling, General & Admin $30.86M $24.83M
YoY Change 24.26% 70.5%
% of Gross Profit 63.4% 67.29%
Research & Development $12.46M $6.927M
YoY Change 79.92% 51.97%
% of Gross Profit 25.61% 18.77%
Depreciation & Amortization $1.604M $901.0K
YoY Change 78.02% 46.03%
% of Gross Profit 3.3% 2.44%
Operating Expenses $43.32M $31.76M
YoY Change 36.4% 66.08%
Operating Profit $5.350M $5.142M
YoY Change 4.05% -52.15%
Interest Expense $206.0K $118.0K
YoY Change 74.58% -281.54%
% of Operating Profit 3.85% 2.29%
Other Income/Expense, Net
YoY Change
Pretax Income $5.556M $5.260M
YoY Change 5.63% -50.75%
Income Tax $976.0K $1.797M
% Of Pretax Income 17.57% 34.16%
Net Earnings $4.580M $3.463M
YoY Change 32.26% -51.94%
Net Earnings / Revenue 5.78% 6.24%
Basic Earnings Per Share $0.09 $0.06
Diluted Earnings Per Share $0.09 $0.06
COMMON SHARES
Basic Shares Outstanding 52.42M shares 53.69M shares
Diluted Shares Outstanding 53.68M shares 54.79M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.60M $104.1M
YoY Change -31.22% 15.54%
Cash & Equivalents $41.97M $53.37M
Short-Term Investments $29.60M $50.70M
Other Short-Term Assets $15.70M $10.30M
YoY Change 52.43% 8.42%
Inventory $48.70M $20.21M
Prepaid Expenses
Receivables $44.30M $29.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $180.3M $164.4M
YoY Change 9.68% 14.84%
LONG-TERM ASSETS
Property, Plant & Equipment $26.40M $22.18M
YoY Change 19.04% 28.84%
Goodwill $13.00M $9.179M
YoY Change 41.64% 316.09%
Intangibles $20.26M $7.431M
YoY Change 172.59% 150.62%
Long-Term Investments $0.00 $10.00M
YoY Change -100.0% -31.97%
Other Assets $14.78M $9.039M
YoY Change 63.52% 123.79%
Total Long-Term Assets $119.2M $72.69M
YoY Change 63.95% 38.09%
TOTAL ASSETS
Total Short-Term Assets $180.3M $164.4M
Total Long-Term Assets $119.2M $72.69M
Total Assets $299.5M $237.1M
YoY Change 26.32% 21.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.63M $9.486M
YoY Change 64.79% 21.49%
Accrued Expenses $20.33M $12.63M
YoY Change 61.02% 80.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $90.49M $48.40M
YoY Change 86.95% 60.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $51.60M $35.50M
YoY Change 45.35% 38.13%
Total Long-Term Liabilities $51.60M $35.50M
YoY Change 45.35% 38.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.49M $48.40M
Total Long-Term Liabilities $51.60M $35.50M
Total Liabilities $142.1M $83.88M
YoY Change 69.44% 50.39%
SHAREHOLDERS EQUITY
Retained Earnings $122.6M $104.4M
YoY Change 17.35% 18.35%
Common Stock $189.7M $179.6M
YoY Change 5.61% 8.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $155.9M $131.2M
YoY Change 18.9% 14.41%
Treasury Stock Shares 20.22M shares 18.91M shares
Shareholders Equity $157.4M $153.2M
YoY Change
Total Liabilities & Shareholders Equity $299.5M $237.1M
YoY Change 26.33% 21.09%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $4.580M $3.463M
YoY Change 32.26% -51.94%
Depreciation, Depletion And Amortization $1.604M $901.0K
YoY Change 78.02% 46.03%
Cash From Operating Activities -$6.609M $7.093M
YoY Change -193.18% -45.47%
INVESTING ACTIVITIES
Capital Expenditures $2.343M $1.280M
YoY Change 83.05% 201.89%
Acquisitions $6.479M
YoY Change
Other Investing Activities $12.32M -$2.260M
YoY Change -645.13% -86.08%
Cash From Investing Activities $9.884M -$3.637M
YoY Change -371.76% -78.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $8.962M
YoY Change -100.0%
Debt Paid & Issued, Net $0.00 $15.00K
YoY Change -100.0%
Cash From Financing Activities -$1.877M -$9.722M
YoY Change -80.69% -567.18%
NET CHANGE
Cash From Operating Activities -$6.609M $7.093M
Cash From Investing Activities $9.884M -$3.637M
Cash From Financing Activities -$1.877M -$9.722M
Net Change In Cash $1.322M -$6.266M
YoY Change -121.1% 287.03%
FREE CASH FLOW
Cash From Operating Activities -$6.609M $7.093M
Capital Expenditures $2.343M $1.280M
Free Cash Flow -$8.952M $5.813M
YoY Change -254.0% -53.81%

Facts In Submission

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IncreaseDecreaseInDeferredRevenue
6313000 USD
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1096000 shares
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1259000 shares
CY2016Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
1945000 USD
CY2017Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
2024000 USD
CY2016Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
17743000 USD
CY2017Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
23647000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
15218000 USD
CY2017Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
20256000 USD
CY2016Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
118000 USD
CY2017Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
206000 USD
CY2016Q4 us-gaap Inventory Finished Goods
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16839000 USD
CY2017Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
20652000 USD
CY2016Q4 us-gaap Inventory Net
InventoryNet
34841000 USD
CY2017Q1 us-gaap Inventory Net
InventoryNet
48699000 USD
CY2016Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
18002000 USD
CY2017Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
28047000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
127275000 USD
CY2017Q1 us-gaap Liabilities
Liabilities
142128000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
278163000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
299518000 USD
CY2016Q4 us-gaap Liabilities Current
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78039000 USD
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
90488000 USD
CY2016Q4 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
17602000 USD
CY2017Q1 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
24688000 USD
CY2016Q4 us-gaap Long Term Investments
LongTermInvestments
234000 USD
CY2017Q1 us-gaap Long Term Investments
LongTermInvestments
0 USD
CY2011Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
55 Lawsuit
CY2017Q1 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
8 Lawsuit
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9722000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1877000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3637000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
9884000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7093000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6609000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
3463000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
4580000 USD
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
31760000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
43320000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5142000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5350000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2740000 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6024000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
13917000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
14781000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
234000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
165000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3697000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4745000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
80000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
467000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
8962000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
744000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2165000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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6479000 USD
CY2016Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
98000 USD
CY2017Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
95000 USD
CY2016Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
20328000 USD
CY2017Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
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1280000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2343000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2016Q4 us-gaap Preferred Stock Shares Authorized
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25000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13858000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15707000 USD
CY2016Q4 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
5302000 USD
CY2017Q1 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
5777000 USD
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
18033000 USD
CY2017Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
18801000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
36000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
30000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
296000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
314000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
449000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
780000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
347000 USD
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
26000 USD
CY2017Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
66000 USD
CY2016Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
161000 USD
CY2017Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-367000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24004000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26399000 USD
CY2016Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
37799000 USD
CY2017Q1 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
33794000 USD
CY2016Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
10000 USD
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
8000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6927000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12463000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3317000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3317000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
118275000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
122558000 USD
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
50675000 USD
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
67491000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
55530000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
79242000 USD
CY2016Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
4855000 USD
CY2017Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
11751000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24833000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30857000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2220000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3447000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1800000 shares
CY2016Q4 us-gaap Short Term Investments
ShortTermInvestments
48415000 USD
CY2017Q1 us-gaap Short Term Investments
ShortTermInvestments
29630000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
150888000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
157390000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4581000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
7415000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
20220227 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
20220227 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
155947000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
155947000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
4400000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54789000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53677000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53693000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52418000 shares
CY2017Q1 us-gaap Reclassifications
Reclassifications
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</font></div></div>

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