2019 Q4 Form 10-Q Financial Statement

#000128005819000042 Filed on November 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $237.8M $221.1M $209.5M
YoY Change 7.51% 5.53% 7.77%
Cost Of Revenue $116.5M $101.8M $95.24M
YoY Change 12.78% 6.89% 9.46%
Gross Profit $121.3M $119.3M $114.3M
YoY Change 2.87% 4.4% 6.4%
Gross Profit Margin 51.0% 53.96% 54.55%
Selling, General & Admin $87.00M $84.40M $73.97M
YoY Change 11.83% 14.09% 11.75%
% of Gross Profit 71.72% 70.73% 64.72%
Research & Development $25.90M $25.94M $24.22M
YoY Change 11.16% 7.11% 9.73%
% of Gross Profit 21.35% 21.74% 21.19%
Depreciation & Amortization $21.70M $3.800M $20.20M
YoY Change 10.71% -81.19% 10.38%
% of Gross Profit 17.89% 3.18% 17.67%
Operating Expenses $115.1M $111.4M $98.51M
YoY Change 12.62% 13.12% 10.69%
Operating Profit $3.586M $7.883M $15.78M
YoY Change -75.57% -50.05% -14.33%
Interest Expense -$4.400M $5.111M $4.140M
YoY Change 12.82% 23.45% 33.89%
% of Operating Profit -122.7% 64.84% 26.23%
Other Income/Expense, Net -$500.0K $911.0K -$1.090M
YoY Change -171.43% -183.58% -606.98%
Pretax Income -$1.262M $4.930M $11.50M
YoY Change -110.99% -57.12% -27.24%
Income Tax -$2.600M $364.0K $332.0K
% Of Pretax Income 7.38% 2.89%
Net Earnings $1.324M $4.566M $11.16M
YoY Change -85.82% -59.1% -12.94%
Net Earnings / Revenue 0.56% 2.06% 5.33%
Basic Earnings Per Share $0.03 $0.10 $0.24
Diluted Earnings Per Share $0.03 $0.09 $0.23
COMMON SHARES
Basic Shares Outstanding 49.19M shares 47.76M shares 47.28M shares
Diluted Shares Outstanding 48.46M shares 48.16M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.70M $30.00M $28.10M
YoY Change 2.51% 6.76% 64.33%
Cash & Equivalents $31.81M $29.08M $25.35M
Short-Term Investments $900.0K $900.0K $2.800M
Other Short-Term Assets $605.4M $309.4M $235.0M
YoY Change 28.4% 31.66% 24.21%
Inventory
Prepaid Expenses
Receivables $88.87M $90.70M $95.86M
Other Receivables $1.400M $9.700M $11.80M
Total Short-Term Assets $734.5M $445.9M $375.3M
YoY Change 22.84% 18.83% 22.2%
LONG-TERM ASSETS
Property, Plant & Equipment $35.55M $37.29M $42.90M
YoY Change -11.2% -13.09% -2.28%
Goodwill $634.1M $630.6M $547.3M
YoY Change 16.3% 15.22% 15.77%
Intangibles $317.9M $327.1M $305.4M
YoY Change 9.01% 7.1% 20.85%
Long-Term Investments
YoY Change
Other Assets $65.19M $64.15M $65.51M
YoY Change -0.26% -2.07% 199.29%
Total Long-Term Assets $1.258B $1.264B $1.029B
YoY Change 23.7% 22.79% 22.57%
TOTAL ASSETS
Total Short-Term Assets $734.5M $445.9M $375.3M
Total Long-Term Assets $1.258B $1.264B $1.029B
Total Assets $1.993B $1.710B $1.405B
YoY Change 23.38% 21.73% 22.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $47.70M $34.20M $25.50M
YoY Change 38.26% 34.12% 43.26%
Accrued Expenses $56.00M $53.70M $37.20M
YoY Change 87.92% 44.35% 13.76%
Deferred Revenue $314.3M $321.0M
YoY Change 6.2%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.500M $7.500M $8.576M
YoY Change 0.0% -12.55% 0.0%
Total Short-Term Liabilities $988.8M $677.4M $566.5M
YoY Change 22.74% 19.59% 16.05%
LONG-TERM LIABILITIES
Long-Term Debt $459.6M $495.6M $416.7M
YoY Change 21.07% 18.93% 26.5%
Other Long-Term Liabilities $5.742M $6.177M $7.027M
YoY Change -38.84% -12.1% -9.9%
Total Long-Term Liabilities $465.3M $501.7M $423.7M
YoY Change 19.62% 18.42% 25.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $988.8M $677.4M $566.5M
Total Long-Term Liabilities $465.3M $501.7M $423.7M
Total Liabilities $1.596B $1.329B $1.041B
YoY Change 28.57% 27.62% 19.64%
SHAREHOLDERS EQUITY
Retained Earnings $234.9M $239.4M $243.0M
YoY Change -4.72% -1.46% 42.33%
Common Stock $457.9M $442.9M $386.7M
YoY Change 14.67% 14.52% 13.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $290.7M $287.2M $266.6M
YoY Change 8.91% 7.71% 13.77%
Treasury Stock Shares 11.07M shares 11.02M shares 10.76M shares
Shareholders Equity $396.8M $381.5M $363.7M
YoY Change
Total Liabilities & Shareholders Equity $1.993B $1.710B $1.405B
YoY Change 23.38% 21.73% 22.47%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $1.324M $4.566M $11.16M
YoY Change -85.82% -59.1% -12.94%
Depreciation, Depletion And Amortization $21.70M $3.800M $20.20M
YoY Change 10.71% -81.19% 10.38%
Cash From Operating Activities $60.40M $77.00M $71.40M
YoY Change -5.03% 7.84% 3.78%
INVESTING ACTIVITIES
Capital Expenditures -$14.30M -$14.50M -$13.60M
YoY Change 11.72% 6.62% 40.21%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$14.20M -$14.50M -$13.70M
YoY Change 10.08% 5.84% 57.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 255.8M -175.4M -178.7M
YoY Change 30.58% -1.85% -5.6%
NET CHANGE
Cash From Operating Activities 60.40M 77.00M 71.40M
Cash From Investing Activities -14.20M -14.50M -13.70M
Cash From Financing Activities 255.8M -175.4M -178.7M
Net Change In Cash 302.0M -112.9M -121.0M
YoY Change 22.47% -6.69% -6.35%
FREE CASH FLOW
Cash From Operating Activities $60.40M $77.00M $71.40M
Capital Expenditures -$14.30M -$14.50M -$13.60M
Free Cash Flow $74.70M $91.50M $85.00M
YoY Change -2.23% 7.65% 8.28%

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9388000 USD
CY2019Q3 blkb Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
63947000 USD
CY2018Q4 blkb Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
46893000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
2426000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
1613000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
911000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1090000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2095000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1254000 USD
CY2019Q3 blkb Nonoperating Income Expense Excluding Interest Expense
NonoperatingIncomeExpenseExcludingInterestExpense
2158000 USD
CY2018Q3 blkb Nonoperating Income Expense Excluding Interest Expense
NonoperatingIncomeExpenseExcludingInterestExpense
-147000 USD
blkb Nonoperating Income Expense Excluding Interest Expense
NonoperatingIncomeExpenseExcludingInterestExpense
4521000 USD
blkb Nonoperating Income Expense Excluding Interest Expense
NonoperatingIncomeExpenseExcludingInterestExpense
359000 USD
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
504325000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
388750000 USD
CY2019Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0361
CY2018Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0361
CY2019Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-1269000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-1626000 USD
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
7500000 USD
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
7500000 USD
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
495556000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
379624000 USD
CY2017Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
700000000.0 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1875000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7500000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7500000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
487450000 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 USD
CY2019Q3 us-gaap Long Term Debt
LongTermDebt
504325000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-900000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
6786000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
18680000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
923000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
2901000 USD
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
803000 USD
us-gaap Sublease Income
SubleaseIncome
2262000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
6906000 USD
us-gaap Lease Cost
LeaseCost
19319000 USD
blkb Restructuring Reserve Period Increase Decrease Relatedto Impairmentof Operating Lease Rightof Use Assets
RestructuringReservePeriodIncreaseDecreaseRelatedtoImpairmentofOperatingLeaseRightofUseAssets
1300000 USD
CY2018Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6200000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
16200000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6652000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
25667000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
21482000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
16944000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
14604000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
81958000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
167307000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
47775000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
119532000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
20808000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
20274000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
16924000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
14391000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
12923000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
81755000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
167075000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
110840000 USD
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19399000 USD
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
100133000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
119532000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y6M
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0596
us-gaap Operating Lease Payments
OperatingLeasePayments
17869000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
108685000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
364000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
332000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1263000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2370000 USD
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.074
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.029
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.107
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.072
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14866000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10730000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43621000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
35683000 USD
CY2019Q1 blkb Annual Dividendper Share Approved
AnnualDividendperShareApproved
0.48
blkb Common Stock Quarterly Dividends Per Share Cash Paid
CommonStockQuarterlyDividendsPerShareCashPaid
0.12
CY2019Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
CY2019Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
CY2019Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-9409000 USD
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1011000 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5110000 USD
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-642000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-13665000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
602000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-13665000 USD
CY2018Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
602000 USD
CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
785000000 USD
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.60
CY2019Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
322996000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
298555000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
271000000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221120000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
209532000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
662584000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
627388000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
221120000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
209532000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
662584000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
627388000 USD
CY2019Q3 us-gaap Business Exit Costs1
BusinessExitCosts1
389000 USD
CY2018Q4 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
5384000 USD
CY2019Q3 us-gaap Restructuring Costs
RestructuringCosts
400000 USD
us-gaap Restructuring Costs
RestructuringCosts
3083000 USD
CY2019Q3 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
8467000 USD
blkb Restructuring Reserve Period Increase Decrease Relatedto Impairmentof Operating Lease Rightof Use Assets
RestructuringReservePeriodIncreaseDecreaseRelatedtoImpairmentofOperatingLeaseRightofUseAssets
1300000 USD
us-gaap Business Exit Costs1
BusinessExitCosts1
2307000 USD
CY2019Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
11000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
776000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
1915000 USD
us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
3083000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
3331000 USD
CY2019Q3 us-gaap Restructuring Reserve
RestructuringReserve
11000 USD
blkb Restructuring Reserve Period Increase Decrease Relatedto Impairmentof Operating Lease Rightof Use Assets
RestructuringReservePeriodIncreaseDecreaseRelatedtoImpairmentofOperatingLeaseRightofUseAssets
1300000 USD

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