2016 Q3 Form 10-Q Financial Statement

#000106472816000220 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $1.207B $1.419B
YoY Change -14.93% 0.0%
Cost Of Revenue $1.065B $1.254B
YoY Change -15.05% -13.85%
Gross Profit $142.3M $165.4M
YoY Change -13.97% -38.24%
Gross Profit Margin 11.79% 11.66%
Selling, General & Admin $32.10M $37.80M
YoY Change -15.08% -28.54%
% of Gross Profit 22.56% 22.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $117.8M $136.0M
YoY Change -13.38% -16.87%
% of Gross Profit 82.78% 82.22%
Operating Expenses $32.10M $37.80M
YoY Change -15.08% -28.54%
Operating Profit -$21.60M -$20.40M
YoY Change 5.88% 0.0%
Interest Expense $58.50M $118.5M
YoY Change -50.63% 3.49%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$108.5M -$137.5M
YoY Change -21.09% 84.32%
Income Tax -$12.90M $6.900M
% Of Pretax Income
Net Earnings -$135.5M -$304.7M
YoY Change -55.53% 0.0%
Net Earnings / Revenue -11.23% -21.47%
Basic Earnings Per Share -$7.41 -$16.73
Diluted Earnings Per Share -$7.41 -$16.73
COMMON SHARES
Basic Shares Outstanding 18.30M shares 18.20M shares
Diluted Shares Outstanding 18.30M shares 18.20M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.168B $334.0M
YoY Change 249.7% -28.48%
Cash & Equivalents $1.168B $334.3M
Short-Term Investments
Other Short-Term Assets $368.9M $382.4M
YoY Change -3.53% 17.88%
Inventory $259.6M $348.1M
Prepaid Expenses
Receivables $351.9M $370.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.246B $1.554B
YoY Change 44.55% -19.56%
LONG-TERM ASSETS
Property, Plant & Equipment $9.216B $9.475B
YoY Change -2.74% -11.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $772.0M $440.0M
YoY Change 75.45% -24.01%
Other Assets $771.6M $633.4M
YoY Change 21.82% -33.83%
Total Long-Term Assets $9.989B $10.11B
YoY Change -1.19% -12.95%
TOTAL ASSETS
Total Short-Term Assets $2.246B $1.554B
Total Long-Term Assets $9.989B $10.11B
Total Assets $12.24B $11.66B
YoY Change 4.9% -13.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $836.0M
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $493.0M $20.00M
YoY Change 2365.0% -4.76%
Total Short-Term Liabilities $1.349B $1.516B
YoY Change -11.06% -10.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $6.282B
YoY Change -100.0% 5.23%
Other Long-Term Liabilities $504.8M $932.8M
YoY Change -45.88% 12.78%
Total Long-Term Liabilities $504.8M $932.8M
YoY Change -45.88% 12.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.349B $1.516B
Total Long-Term Liabilities $504.8M $932.8M
Total Liabilities $11.71B $10.35B
YoY Change 13.12% 4.05%
SHAREHOLDERS EQUITY
Retained Earnings -$1.040B -$34.00M
YoY Change 2957.35% -101.61%
Common Stock $2.419B $2.407B
YoY Change 0.49% 1.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $371.8M $371.6M
YoY Change 0.05% -20.43%
Treasury Stock Shares 800.0K shares 800.0K shares
Shareholders Equity $520.7M $1.305B
YoY Change
Total Liabilities & Shareholders Equity $12.24B $11.66B
YoY Change 4.9% -13.89%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$135.5M -$304.7M
YoY Change -55.53% 0.0%
Depreciation, Depletion And Amortization $117.8M $136.0M
YoY Change -13.38% -16.87%
Cash From Operating Activities $155.0M -$34.20M
YoY Change -553.22% -120.14%
INVESTING ACTIVITIES
Capital Expenditures -$18.50M -$26.00M
YoY Change -28.85% -39.25%
Acquisitions
YoY Change
Other Investing Activities -$246.9M -$84.20M
YoY Change 193.23% -6.65%
Cash From Investing Activities -$265.4M -$110.2M
YoY Change 140.83% -17.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.900M -8.400M
YoY Change -146.43% -87.77%
NET CHANGE
Cash From Operating Activities 155.0M -34.20M
Cash From Investing Activities -265.4M -110.2M
Cash From Financing Activities 3.900M -8.400M
Net Change In Cash -106.5M -152.8M
YoY Change -30.3% 379.0%
FREE CASH FLOW
Cash From Operating Activities $155.0M -$34.20M
Capital Expenditures -$18.50M -$26.00M
Free Cash Flow $173.5M -$8.200M
YoY Change -2215.85% -103.86%

Facts In Submission

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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Reorganization Items
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us-gaap Reorganization Items
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us-gaap Reorganization Items
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Selling General And Administrative Expense
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CY2016Q3 us-gaap Stockholders Equity
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us-gaap Stockholders Equity Reverse Stock Split
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Pursuant to the authorization provided at a special meeting of the Company's stockholders held on September 16, 2015, the Company completed a 1-for-15 reverse stock split of the shares of the Company’s common stock on September 30, 2015 (the Reverse Stock Split). As a result of the Reverse Stock Split, every 15 shares of issued and outstanding common stock were combined into one issued and outstanding share of Common Stock, without any change in the par value per share.
us-gaap Translation Adjustment Functional To Reporting Currency Loss Gain On Reclassified Of Earnings Net Of Tax
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0 USD
CY2015Q4 us-gaap Treasury Stock Shares
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CY2015Q4 us-gaap Treasury Stock Value
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CY2016Q3 us-gaap Treasury Stock Value
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CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;text-indent:24px;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">The Company&#8217;s policy is to independently evaluate each customer&#8217;s creditworthiness prior to entering into transactions and to regularly monitor the credit extended. If the Company engages in a transaction with a counterparty that does not meet its credit standards, the Company seeks to protect its position by requiring the counterparty to provide an appropriate credit enhancement. Also, when appropriate (as determined by its credit management function), the Company has taken steps to reduce its exposure to customers or counterparties whose credit has deteriorated and who may pose a higher risk of failure to perform under their contractual obligations.</font></div></div>

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