2016 Q1 Form 10-Q Financial Statement

#000091584016000098 Filed on April 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $385.6M $299.4M
YoY Change 28.81% 10.87%
Cost Of Revenue $324.2M $245.4M
YoY Change 32.11% 13.09%
Gross Profit $59.57M $53.91M
YoY Change 10.49% 3.34%
Gross Profit Margin 15.45% 18.01%
Selling, General & Admin $53.50M $44.70M
YoY Change 19.69% 2.29%
% of Gross Profit 89.82% 82.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.056M $2.781M
YoY Change 9.89% -1.77%
% of Gross Profit 5.13% 5.16%
Operating Expenses $56.50M $47.50M
YoY Change 18.95% 1.93%
Operating Profit $3.030M $6.436M
YoY Change -52.92% 14.58%
Interest Expense $6.633M $7.695M
YoY Change -13.8% -47.51%
% of Operating Profit 218.91% 119.56%
Other Income/Expense, Net $100.0K -$8.473M
YoY Change -101.18% -38.27%
Pretax Income -$5.210M -$1.955M
YoY Change 166.5% -76.39%
Income Tax -$3.900M $105.0K
% Of Pretax Income
Net Earnings -$1.234M -$1.996M
YoY Change -38.18% -74.96%
Net Earnings / Revenue -0.32% -0.67%
Basic Earnings Per Share -$0.04 -$0.08
Diluted Earnings Per Share -$0.04 -$0.08
COMMON SHARES
Basic Shares Outstanding 31.81M shares 26.48M shares
Diluted Shares Outstanding 31.81M shares 26.48M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.9M $146.3M
YoY Change -7.79% -51.17%
Cash & Equivalents $134.9M $146.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.751B $1.757B
Prepaid Expenses
Receivables $55.60M $35.90M
Other Receivables $200.0K $0.00
Total Short-Term Assets $1.941B $1.939B
YoY Change 0.11% 6.58%
LONG-TERM ASSETS
Property, Plant & Equipment $20.70M $21.15M
YoY Change -2.15% 16.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.000M $10.40M
YoY Change -13.46% -71.51%
Other Assets $346.9M $43.20M
YoY Change 703.01% -23.13%
Total Long-Term Assets $392.3M $93.05M
YoY Change 321.63% -29.5%
TOTAL ASSETS
Total Short-Term Assets $1.941B $1.939B
Total Long-Term Assets $392.3M $93.05M
Total Assets $2.334B $2.032B
YoY Change 14.84% 4.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $98.60M $100.8M
YoY Change -2.18% 40.19%
Accrued Expenses $92.40M $72.70M
YoY Change 27.1% 19.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $207.7M $194.8M
YoY Change 6.62% 16.86%
LONG-TERM LIABILITIES
Long-Term Debt $1.460B $1.535B
YoY Change -4.92% 1.54%
Other Long-Term Liabilities $33.00M $43.40M
YoY Change -23.96% 3.33%
Total Long-Term Liabilities $1.493B $1.579B
YoY Change -5.45% 1.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $207.7M $194.8M
Total Long-Term Liabilities $1.493B $1.579B
Total Liabilities $1.700B $1.773B
YoY Change -4.13% 3.07%
SHAREHOLDERS EQUITY
Retained Earnings -$227.4M -$595.6M
YoY Change -61.82% -3.74%
Common Stock $861.0M $854.4M
YoY Change 0.77% 0.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $633.6M $258.8M
YoY Change
Total Liabilities & Shareholders Equity $2.334B $2.032B
YoY Change 14.84% 4.14%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$1.234M -$1.996M
YoY Change -38.18% -74.96%
Depreciation, Depletion And Amortization $3.056M $2.781M
YoY Change 9.89% -1.77%
Cash From Operating Activities $17.90M -$30.40M
YoY Change -158.88% -59.03%
INVESTING ACTIVITIES
Capital Expenditures -$3.300M -$4.600M
YoY Change -28.26% 35.29%
Acquisitions
YoY Change
Other Investing Activities $21.00M $44.60M
YoY Change -52.91% -1751.85%
Cash From Investing Activities $17.70M $40.00M
YoY Change -55.75% -755.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.70M -2.100M
YoY Change 2076.19% -22.22%
NET CHANGE
Cash From Operating Activities 17.90M -30.40M
Cash From Investing Activities 17.70M 40.00M
Cash From Financing Activities -45.70M -2.100M
Net Change In Cash -10.10M 7.500M
YoY Change -234.67% -109.04%
FREE CASH FLOW
Cash From Operating Activities $17.90M -$30.40M
Capital Expenditures -$3.300M -$4.600M
Free Cash Flow $21.20M -$25.80M
YoY Change -182.17% -63.56%

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0 USD
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6436000 USD
us-gaap Operating Income Loss
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8473000 USD
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17907000 USD
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us-gaap Other Operating Activities Cash Flow Statement
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0 USD
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126000 USD
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2451000 USD
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0 USD
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185000 USD
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14673 USD
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1670000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2787000 USD
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PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7478000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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PreferredStockParOrStatedValuePerShare
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1141000 USD
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0 USD
us-gaap Proceeds From Income Tax Refunds
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67000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
137900000 USD
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ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000 USD
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us-gaap Proceeds From Payments For Other Financing Activities
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22230000 USD
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RealEstateInventoryCapitalizedInterestCosts
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RealEstateInventoryCapitalizedInterestCosts
123457000 USD
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RealEstateInventoryCapitalizedInterestCosts
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CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
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CY2015Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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9956000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
18243000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
16073000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
29724000 USD
CY2015Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
30259000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
60542000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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30467000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
60555000 USD
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299359000 USD
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565123000 USD
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9514000 USD
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208221000 USD
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0 USD
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25000000 USD
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CY2015Q1 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
11969000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
22895000 USD
CY2016Q1 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
14582000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
28356000 USD
us-gaap Share Based Compensation
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2916000 USD
us-gaap Share Based Compensation
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3787000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2014Q3 us-gaap Standard Product Warranty Accrual
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CY2015Q1 us-gaap Standard Product Warranty Accrual Payments
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6587000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
11199000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
11149000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
23132000 USD
CY2015Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
6524000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
20754000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
20053000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
30653000 USD
CY2015Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1630000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3155000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3086000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5701000 USD
CY2015Q3 us-gaap Stockholders Equity
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CY2016Q1 us-gaap Stockholders Equity
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26480000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26469000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31808000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31783000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26480000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26469000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31808000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31783000 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
155000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates.</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates.</font></div></div>

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