2018 Q1 Form 10-Q Financial Statement

#000106918318000041 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $20.24M $79.24M
YoY Change -74.46% 42.7%
Cost Of Revenue $36.75M $30.57M
YoY Change 20.22% 64.12%
Gross Profit $64.46M $48.67M
YoY Change 32.45% 31.89%
Gross Profit Margin 318.47% 61.42%
Selling, General & Admin $35.76M $30.86M
YoY Change 15.89% 24.26%
% of Gross Profit 55.47% 63.4%
Research & Development $15.12M $12.46M
YoY Change 21.31% 79.92%
% of Gross Profit 23.45% 25.61%
Depreciation & Amortization $2.411M $1.604M
YoY Change 50.31% 78.02%
% of Gross Profit 3.74% 3.3%
Operating Expenses $50.88M $43.32M
YoY Change 17.45% 36.4%
Operating Profit $13.58M $5.350M
YoY Change 153.89% 4.05%
Interest Expense $1.263M $206.0K
YoY Change 513.11% 74.58%
% of Operating Profit 9.3% 3.85%
Other Income/Expense, Net
YoY Change
Pretax Income $14.85M $5.556M
YoY Change 167.21% 5.63%
Income Tax $1.920M $976.0K
% Of Pretax Income 12.93% 17.57%
Net Earnings $12.93M $4.580M
YoY Change 182.23% 32.26%
Net Earnings / Revenue 63.86% 5.78%
Basic Earnings Per Share $0.24 $0.09
Diluted Earnings Per Share $0.24 $0.09
COMMON SHARES
Basic Shares Outstanding 53.12M shares 52.42M shares
Diluted Shares Outstanding 54.53M shares 53.68M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.80M $71.60M
YoY Change 35.2% -31.22%
Cash & Equivalents $92.33M $41.97M
Short-Term Investments $4.500M $29.60M
Other Short-Term Assets $21.90M $15.70M
YoY Change 39.49% 52.43%
Inventory $43.10M $48.70M
Prepaid Expenses
Receivables $97.10M $44.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $114.2M $180.3M
YoY Change -36.68% 9.68%
LONG-TERM ASSETS
Property, Plant & Equipment $31.18M $26.40M
YoY Change 18.09% 19.04%
Goodwill $14.95M $13.00M
YoY Change 14.97% 41.64%
Intangibles $17.50M $20.26M
YoY Change -13.63% 172.59%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $20.69M $14.78M
YoY Change 39.97% 63.52%
Total Long-Term Assets $55.19M $119.2M
YoY Change -53.7% 63.95%
TOTAL ASSETS
Total Short-Term Assets $114.2M $180.3M
Total Long-Term Assets $55.19M $119.2M
Total Assets $169.4M $299.5M
YoY Change -43.45% 26.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.69M $15.63M
YoY Change -25.2% 64.79%
Accrued Expenses $26.01M $20.33M
YoY Change 27.96% 61.02%
Deferred Revenue $71.26M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $97.28M $90.49M
YoY Change 7.5% 86.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $64.90M $51.60M
YoY Change 25.78% 45.35%
Total Long-Term Liabilities $64.90M $51.60M
YoY Change 25.78% 45.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $97.28M $90.49M
Total Long-Term Liabilities $64.90M $51.60M
Total Liabilities $153.4M $142.1M
YoY Change 7.94% 69.44%
SHAREHOLDERS EQUITY
Retained Earnings $142.2M $122.6M
YoY Change 16.01% 17.35%
Common Stock $202.3M $189.7M
YoY Change 6.66% 5.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $155.9M $155.9M
YoY Change 0.0% 18.9%
Treasury Stock Shares 20.22M shares 20.22M shares
Shareholders Equity $199.3M $157.4M
YoY Change
Total Liabilities & Shareholders Equity $295.6M $299.5M
YoY Change -1.31% 26.33%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $12.93M $4.580M
YoY Change 182.23% 32.26%
Depreciation, Depletion And Amortization $2.411M $1.604M
YoY Change 50.31% 78.02%
Cash From Operating Activities $18.04M -$6.609M
YoY Change -373.02% -193.18%
INVESTING ACTIVITIES
Capital Expenditures $1.063M $2.343M
YoY Change -54.63% 83.05%
Acquisitions $0.00 $6.479M
YoY Change -100.0%
Other Investing Activities $2.370M $12.32M
YoY Change -80.76% -645.13%
Cash From Investing Activities $1.268M $9.884M
YoY Change -87.17% -371.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$3.421M -$1.877M
YoY Change 82.26% -80.69%
NET CHANGE
Cash From Operating Activities $18.04M -$6.609M
Cash From Investing Activities $1.268M $9.884M
Cash From Financing Activities -$3.421M -$1.877M
Net Change In Cash $16.36M $1.322M
YoY Change 1137.52% -121.1%
FREE CASH FLOW
Cash From Operating Activities $18.04M -$6.609M
Capital Expenditures $1.063M $2.343M
Free Cash Flow $16.98M -$8.952M
YoY Change -289.69% -254.0%

Facts In Submission

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200000 USD
CY2017Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1413000 shares
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26041000 USD
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23900000 USD
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4580000 USD
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2 segment
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0 USD
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34000 USD
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0 USD
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0.00001
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0 shares
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0 USD
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CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
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780000 USD
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CY2018Q1 us-gaap Product Warranty Accrual
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CY2017Q1 us-gaap Product Warranty Accrual Payments
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CY2018Q1 us-gaap Restricted Cash
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101215000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
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650000000 USD
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67491000 USD
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80974000 USD
CY2017Q1 us-gaap Sales Revenue Services Net
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11751000 USD
CY2018Q1 us-gaap Sales Revenue Services Net
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20241000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
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30857000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
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35759000 USD
CY2017Q1 us-gaap Share Based Compensation
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3447000 USD
CY2018Q1 us-gaap Share Based Compensation
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4093000 USD
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800000 shares
CY2017Q4 us-gaap Short Term Investments
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6862000 USD
CY2018Q1 us-gaap Short Term Investments
ShortTermInvestments
4475000 USD
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167444000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
199329000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
142179000 USD
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2558000 USD
CY2018Q1 us-gaap Taxes Payable Current
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8945000 USD
CY2017Q4 us-gaap Treasury Stock Shares
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20220227 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
20220227 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
155947000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
155947000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
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3700000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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3600000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53677000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54532000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52418000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53119000 shares
CY2018Q1 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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