2013 Form 10-K Financial Statement

#000119312513326099 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 2012 Q2 2012 Q1
Revenue $2.431B $800.3M $547.0M
YoY Change 5.53% 3.12% 3.78%
Cost Of Revenue $1.768B $528.9M $420.8M
YoY Change 3.07% 2.24% 3.49%
Gross Profit $663.0M $271.4M $126.2M
YoY Change 12.68% 4.87% 4.73%
Gross Profit Margin 27.27% 33.91% 23.07%
Selling, General & Admin $323.6M $91.10M $70.60M
YoY Change 7.9% 21.95% 5.53%
% of Gross Profit 48.81% 33.57% 55.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.60M $23.50M $25.10M
YoY Change 2.58% 11.9% 30.73%
% of Gross Profit 10.8% 8.66% 19.89%
Operating Expenses $323.6M $91.60M $70.60M
YoY Change 7.9% 23.45% 5.22%
Operating Profit $323.2M $179.8M $55.60M
YoY Change 60.88% -2.6% 4.12%
Interest Expense -$13.00M -$2.500M -$3.800M
YoY Change 10.17% -26.47% 65.22%
% of Operating Profit -4.02% -1.39% -6.83%
Other Income/Expense, Net $3.200M $500.0K
YoY Change 100.0%
Pretax Income $252.3M $135.3M $28.80M
YoY Change 101.04% -25.33% -43.64%
Income Tax $111.1M $51.90M $10.70M
% Of Pretax Income 44.03% 38.36% 37.15%
Net Earnings $212.1M $83.40M $16.70M
YoY Change 71.6% -28.23% -43.77%
Net Earnings / Revenue 8.73% 10.42% 3.05%
Basic Earnings Per Share $1.74 $0.67 $0.14
Diluted Earnings Per Share $1.69 $0.65 $0.13
COMMON SHARES
Basic Shares Outstanding 121.9M shares 124.0M shares
Diluted Shares Outstanding 125.4M shares 128.4M shares

Balance Sheet

Concept 2013 2012 Q2 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $266.0M $320.5M $218.8M
YoY Change -17.0% 32.71% 44.61%
Cash & Equivalents $266.0M $320.5M $218.8M
Short-Term Investments
Other Short-Term Assets $98.60M $86.20M $142.3M
YoY Change 14.39% -16.55% -10.5%
Inventory $8.600M
Prepaid Expenses
Receivables $442.4M $370.7M $388.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $807.0M $777.4M $749.6M
YoY Change 3.81% 3.46% 6.24%
LONG-TERM ASSETS
Property, Plant & Equipment $80.90M $79.00M $78.50M
YoY Change 2.41% -4.93% -7.21%
Goodwill $780.0M
YoY Change 6.04%
Intangibles $143.3M
YoY Change -2.65%
Long-Term Investments $20.90M $12.60M $12.90M
YoY Change 65.87% -30.39%
Other Assets $210.4M $207.9M $230.0M
YoY Change 7.73% 11.36% 25.14%
Total Long-Term Assets $1.211B $1.210B $1.265B
YoY Change 0.08% 5.0% 10.18%
TOTAL ASSETS
Total Short-Term Assets $807.0M $777.4M $749.6M
Total Long-Term Assets $1.211B $1.210B $1.265B
Total Assets $2.018B $1.988B $2.014B
YoY Change 1.54% 4.39% 8.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $143.1M $102.2M $107.1M
YoY Change 40.02% -14.12% -2.46%
Accrued Expenses $277.2M $241.0M $150.5M
YoY Change 15.02% 30.55% -22.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $469.5M $410.3M $438.3M
YoY Change 14.43% -47.58% -48.74%
LONG-TERM LIABILITIES
Long-Term Debt $524.5M $524.4M $564.3M
YoY Change 0.02% 321.88% 354.35%
Other Long-Term Liabilities $137.0M $100.9M $145.7M
YoY Change -1.58% 24.41% 18.65%
Total Long-Term Liabilities $661.5M $100.9M $710.0M
YoY Change -0.32% 24.41% 187.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $469.5M $410.3M $438.3M
Total Long-Term Liabilities $661.5M $100.9M $710.0M
Total Liabilities $1.202B $1.137B $1.214B
YoY Change 5.73% 2.75% 4.51%
SHAREHOLDERS EQUITY
Retained Earnings $686.1M
YoY Change 6.84%
Common Stock $1.500M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $580.0M
YoY Change 9.45%
Treasury Stock Shares 28.10M shares
Shareholders Equity $816.0M $850.5M $800.8M
YoY Change
Total Liabilities & Shareholders Equity $2.018B $1.988B $2.014B
YoY Change 1.54% 4.39% 8.68%

Cashflow Statement

Concept 2013 2012 Q2 2012 Q1
OPERATING ACTIVITIES
Net Income $212.1M $83.40M $16.70M
YoY Change 71.6% -28.23% -43.77%
Depreciation, Depletion And Amortization $71.60M $23.50M $25.10M
YoY Change 2.58% 11.9% 30.73%
Cash From Operating Activities $270.9M $181.6M $14.50M
YoY Change -4.68% 13.29% 0.0%
INVESTING ACTIVITIES
Capital Expenditures $38.20M -$14.30M -$10.80M
YoY Change 13.02% -17.34% -21.17%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$1.100M $6.500M $2.000M
YoY Change -98.28% -3350.0% -101.01%
Cash From Investing Activities -$52.00M -$7.800M -$8.800M
YoY Change -52.94% -55.43% -95.84%
FINANCING ACTIVITIES
Cash Dividend Paid $85.80M
YoY Change 9.86%
Common Stock Issuance & Retirement, Net $238.5M
YoY Change 362.21%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -273.2M -68.20M -27.00M
YoY Change 208.0% 26.06% -117.05%
NET CHANGE
Cash From Operating Activities 270.9M 181.6M 14.50M
Cash From Investing Activities -52.00M -7.800M -8.800M
Cash From Financing Activities -273.2M -68.20M -27.00M
Net Change In Cash -54.30M 105.6M -21.30M
YoY Change -163.88% 19.05% -44.53%
FREE CASH FLOW
Cash From Operating Activities $270.9M $181.6M $14.50M
Capital Expenditures $38.20M -$14.30M -$10.80M
Free Cash Flow $232.7M $195.9M $25.30M
YoY Change -7.07% 10.3% -10.28%

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<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The following table summarizes the activity related to the Company&#x2019;s unrecognized tax benefits:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="84%" align="center"> <tr> <td width="79%"></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="4%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Fiscal Year Ended<br /> June&#xA0;30,</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2013</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom" colspan="10" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>($ in millions)</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; 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<div> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The following table presents the assumptions used to determine the fair values of the stock option grants using the Binomial options pricing model during the fiscal years ended June&#xA0;30, 2013, 2012 and 2011:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%" align="center"> <!-- Begin Table Head --> <tr> <td width="55%"></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="10%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Fiscal&#xA0;Year&#xA0;Ended<br /> June&#xA0;30, 2013</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Fiscal&#xA0;Year&#xA0;Ended<br /> June&#xA0;30, 2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>Fiscal&#xA0;Year&#xA0;Ended<br /> June&#xA0;30, 2011</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <!-- End Table Head --><!-- Begin Table Body --> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; 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CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
28800000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2012Q1 us-gaap Gross Profit
GrossProfit
126200000
CY2012Q1 us-gaap Revenues
Revenues
547000000
CY2012Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.14
CY2012Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.15
CY2012Q2 us-gaap Profit Loss
ProfitLoss
83400000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
135300000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.65
CY2012Q2 us-gaap Gross Profit
GrossProfit
271400000
CY2012Q2 us-gaap Revenues
Revenues
800300000
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.65
CY2012Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.67
CY2013Q2 us-gaap Profit Loss
ProfitLoss
134600000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
202200000
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.12
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.09
CY2013Q2 us-gaap Gross Profit
GrossProfit
301100000
CY2013Q2 us-gaap Revenues
Revenues
865100000
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.09
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.12
CY2011Q3 us-gaap Profit Loss
ProfitLoss
16700000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
26200000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2011Q3 us-gaap Gross Profit
GrossProfit
93600000
CY2011Q3 us-gaap Revenues
Revenues
476400000
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.13
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.14
CY2011Q4 us-gaap Profit Loss
ProfitLoss
6800000
CY2011Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
10600000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2011Q4 us-gaap Gross Profit
GrossProfit
97200000
CY2011Q4 us-gaap Revenues
Revenues
479800000
CY2011Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.05
CY2011Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.05
CY2012Q3 us-gaap Profit Loss
ProfitLoss
18300000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
28600000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2012Q3 us-gaap Gross Profit
GrossProfit
105800000
CY2012Q3 us-gaap Revenues
Revenues
495800000
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.14
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.15
CY2012Q4 us-gaap Profit Loss
ProfitLoss
15800000
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
24700000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2012Q4 us-gaap Gross Profit
GrossProfit
105600000
CY2012Q4 us-gaap Revenues
Revenues
493200000
CY2012Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.13
CY2012Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.13

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