2019 Q4 Form 10-Q Financial Statement

#000170587319000069 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $118.1M $194.7M $142.9M
YoY Change -57.87% 36.18% 104.47%
Cost Of Revenue $64.30M $54.70M $57.80M
YoY Change 10.67% -5.36% 6.06%
Gross Profit $53.80M $139.9M $85.20M
YoY Change -75.8% 64.2% 453.25%
Gross Profit Margin 45.55% 71.86% 59.6%
Selling, General & Admin $30.20M $28.10M $24.50M
YoY Change 12.27% 14.69% -5.77%
% of Gross Profit 56.13% 20.09% 28.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.10M $27.66M $21.73M
YoY Change 23.87% 27.31% 4.36%
% of Gross Profit 55.95% 19.77% 25.5%
Operating Expenses $60.30M $55.90M $46.20M
YoY Change 17.77% 21.0% -1.49%
Operating Profit -$6.500M $84.00M $39.00M
YoY Change -103.8% 115.38% -223.81%
Interest Expense -$4.500M $8.597M $9.877M
YoY Change 4.65% -12.96% 67.92%
% of Operating Profit 10.23% 25.33%
Other Income/Expense, Net $0.00 -$8.674M -$9.530M
YoY Change -100.0% -8.98% 101.61%
Pretax Income -$62.80M $72.82M $44.67M
YoY Change -136.58% 63.02% -380.4%
Income Tax -$55.80M $20.17M $7.683M
% Of Pretax Income 27.7% 17.2%
Net Earnings -$7.000M $52.65M $36.99M
YoY Change -105.31% 42.35% -481.92%
Net Earnings / Revenue -5.93% 27.04% 25.87%
Basic Earnings Per Share $0.65 -$0.70
Diluted Earnings Per Share -$84.64K $0.65 -$0.70
COMMON SHARES
Basic Shares Outstanding 81.00M shares 80.98M shares 70.94M shares
Diluted Shares Outstanding 81.05M shares 70.94M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $23.90M
YoY Change -100.0% -100.0% 724.14%
Cash & Equivalents $0.00 $0.00 $23.86M
Short-Term Investments
Other Short-Term Assets $846.0K $466.0K $1.228M
YoY Change 82.33% -62.05% -97.64%
Inventory $14.00M $11.30M $7.100M
Prepaid Expenses $4.577M $4.533M $4.945M
Receivables $71.87M $63.67M $65.76M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $100.4M $130.0M $102.9M
YoY Change -56.15% 26.37% -7.54%
LONG-TERM ASSETS
Property, Plant & Equipment $109.7M $109.1M $104.9M
YoY Change 5.51% 4.02% -92.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.97M $14.07M $18.34M
YoY Change -24.76% -23.28% -77.66%
Total Long-Term Assets $1.590B $1.636B $1.437B
YoY Change 8.65% 13.84% -2.14%
TOTAL ASSETS
Total Short-Term Assets $100.4M $130.0M $102.9M
Total Long-Term Assets $1.590B $1.636B $1.437B
Total Assets $1.690B $1.766B $1.540B
YoY Change -0.12% 14.68% -2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.50M $14.10M $10.50M
YoY Change 87.5% 34.29% -90.37%
Accrued Expenses $57.08M $59.58M $54.97M
YoY Change -14.06% 8.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K
YoY Change -99.71%
Total Short-Term Liabilities $156.6M $148.9M $144.3M
YoY Change 8.68% 3.21% -4.33%
LONG-TERM LIABILITIES
Long-Term Debt $394.3M $402.3M $391.5M
YoY Change 0.65% 2.75% 3.3%
Other Long-Term Liabilities $33.59M $29.19M $15.62M
YoY Change 125.38% 86.9% -90.43%
Total Long-Term Liabilities $427.9M $431.5M $407.1M
YoY Change 5.22% 5.98% -24.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $156.6M $148.9M $144.3M
Total Long-Term Liabilities $427.9M $431.5M $407.1M
Total Liabilities $584.5M $580.4M $551.4M
YoY Change 6.12% 5.26% -21.43%
SHAREHOLDERS EQUITY
Retained Earnings $120.5M $137.1M -$5.734M
YoY Change 3.87% -2490.36%
Common Stock $85.00K $85.00K $81.00K
YoY Change 3.66% 4.94%
Preferred Stock
YoY Change
Treasury Stock (at cost) $50.00M $39.23M $20.27M
YoY Change 106.44% 93.56%
Treasury Stock Shares
Shareholders Equity $972.4M $997.3M $889.1M
YoY Change
Total Liabilities & Shareholders Equity $1.690B $1.766B $1.540B
YoY Change -0.12% 14.68% -2.52%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$7.000M $52.65M $36.99M
YoY Change -105.31% 42.35% -481.92%
Depreciation, Depletion And Amortization $30.10M $27.66M $21.73M
YoY Change 23.87% 27.31% 4.36%
Cash From Operating Activities $86.00M $65.30M $56.80M
YoY Change -10.23% 14.96% -717.39%
INVESTING ACTIVITIES
Capital Expenditures -$70.20M -$61.20M -$40.40M
YoY Change 69.16% 51.49% -82.95%
Acquisitions
YoY Change
Other Investing Activities $12.80M $1.000M $400.0K
YoY Change 166.67% 150.0% -99.83%
Cash From Investing Activities -$57.30M -$60.30M -$40.10M
YoY Change 56.13% 50.37% 1722.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.70M -5.300M -16.30M
YoY Change 100.7% -67.48% -109.61%
NET CHANGE
Cash From Operating Activities 86.00M 65.30M 56.80M
Cash From Investing Activities -57.30M -60.30M -40.10M
Cash From Financing Activities -28.70M -5.300M -16.30M
Net Change In Cash -0.000000007451 -300.0K 400.0K
YoY Change -100.0% -175.0% -99.75%
FREE CASH FLOW
Cash From Operating Activities $86.00M $65.30M $56.80M
Capital Expenditures -$70.20M -$61.20M -$40.40M
Free Cash Flow $156.2M $126.5M $97.20M
YoY Change 13.77% 30.14% -57.33%

Facts In Submission

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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Proceeds From Issuance Initial Public Offering
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134362000 USD
us-gaap Proceeds From Issuance Initial Public Offering
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0 USD
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400000000 USD
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3377000 USD
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969000 USD
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119710000 USD
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us-gaap Provision For Doubtful Accounts
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427000 USD
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us-gaap Reorganization Items
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426000 USD
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242182000 USD
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CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2019Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2018Q3 us-gaap Results Of Operations Transportation Costs
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2318000 USD
us-gaap Results Of Operations Transportation Costs
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7640000 USD
CY2019Q3 us-gaap Results Of Operations Transportation Costs
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2067000 USD
us-gaap Results Of Operations Transportation Costs
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5935000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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183000 USD
us-gaap Revenue Not From Contract With Customer Other
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500000 USD
CY2019Q3 us-gaap Revenue Not From Contract With Customer Other
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us-gaap Revenue Not From Contract With Customer Other
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CY2018Q3 us-gaap Revenues
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us-gaap Revenues
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306211000 USD
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CY2019Q3 us-gaap Revenues
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194672000 USD
us-gaap Revenues
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us-gaap Share Based Compensation
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3502000 USD
us-gaap Share Based Compensation
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CY2019Q1 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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CY2018Q3 us-gaap Stock Issued During Period Value New Issues
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CY2018Q4 us-gaap Stock Repurchase Program Authorized Amount1
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100000000 USD
CY2018Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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CY2018Q3 us-gaap Stock Repurchased And Retired During Period Value
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CY2017Q4 us-gaap Stockholders Equity
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CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Stockholders Equity
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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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CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q4 us-gaap Treasury Stock Common Shares
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CY2019Q3 us-gaap Treasury Stock Common Shares
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CY2019Q3 us-gaap Treasury Stock Shares Acquired
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39000000 USD
CY2019Q1 us-gaap Treasury Stock Value Acquired Cost Method
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CY2019Q2 us-gaap Treasury Stock Value Acquired Cost Method
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10897000 USD
us-gaap Treasury Stock Value Acquired Cost Method
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35000000 USD
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
69000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
145000 shares
CY2018Q3 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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CY2019Q3 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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us-gaap Weighted Average Number Of Shares Contingently Issuable
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7080000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81703000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82000000 shares

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