2017 Q1 Form 10-Q Financial Statement

#000091584017000021 Filed on May 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $425.5M $385.6M
YoY Change 10.34% 28.81%
Cost Of Revenue $357.8M $324.2M
YoY Change 10.36% 32.11%
Gross Profit $67.40M $59.57M
YoY Change 13.15% 10.49%
Gross Profit Margin 15.84% 15.45%
Selling, General & Admin $56.70M $53.50M
YoY Change 5.98% 19.69%
% of Gross Profit 84.13% 89.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.100M $3.056M
YoY Change 1.44% 9.89%
% of Gross Profit 4.6% 5.13%
Operating Expenses $59.90M $56.50M
YoY Change 6.02% 18.95%
Operating Profit $7.511M $3.030M
YoY Change 147.89% -52.92%
Interest Expense $4.046M $6.633M
YoY Change -39.0% -13.8%
% of Operating Profit 53.87% 218.91%
Other Income/Expense, Net $100.0K $100.0K
YoY Change 0.0% -101.18%
Pretax Income -$11.96M -$5.210M
YoY Change 129.54% 166.5%
Income Tax -$4.464M -$3.900M
% Of Pretax Income
Net Earnings -$7.535M -$1.234M
YoY Change 510.62% -38.18%
Net Earnings / Revenue -1.77% -0.32%
Basic Earnings Per Share -$0.23 -$0.04
Diluted Earnings Per Share -$0.23 -$0.04
COMMON SHARES
Basic Shares Outstanding 31.97M shares 31.81M shares
Diluted Shares Outstanding 31.97M shares 31.81M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $138.8M $134.9M
YoY Change 2.89% -7.79%
Cash & Equivalents $138.8M $134.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.631B $1.751B
Prepaid Expenses
Receivables $43.80M $55.60M
Other Receivables $300.0K $200.0K
Total Short-Term Assets $1.814B $1.941B
YoY Change -6.56% 0.11%
LONG-TERM ASSETS
Property, Plant & Equipment $18.98M $20.70M
YoY Change -8.3% -2.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.100M $9.000M
YoY Change -32.22% -13.46%
Other Assets $332.0M $346.9M
YoY Change -4.3% 703.01%
Total Long-Term Assets $361.2M $392.3M
YoY Change -7.94% 321.63%
TOTAL ASSETS
Total Short-Term Assets $1.814B $1.941B
Total Long-Term Assets $361.2M $392.3M
Total Assets $2.175B $2.334B
YoY Change -6.79% 14.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $100.3M $98.60M
YoY Change 1.72% -2.18%
Accrued Expenses $58.50M $92.40M
YoY Change -36.69% 27.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $175.3M $207.7M
YoY Change -15.6% 6.62%
LONG-TERM LIABILITIES
Long-Term Debt $1.334B $1.460B
YoY Change -8.58% -4.92%
Other Long-Term Liabilities $27.50M $33.00M
YoY Change -16.67% -23.96%
Total Long-Term Liabilities $1.362B $1.493B
YoY Change -8.76% -5.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $175.3M $207.7M
Total Long-Term Liabilities $1.362B $1.493B
Total Liabilities $1.537B $1.700B
YoY Change -9.59% -4.13%
SHAREHOLDERS EQUITY
Retained Earnings -$231.4M -$227.4M
YoY Change 1.78% -61.82%
Common Stock $869.5M $861.0M
YoY Change 0.99% 0.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $638.0M $633.6M
YoY Change
Total Liabilities & Shareholders Equity $2.175B $2.334B
YoY Change -6.79% 14.84%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$7.535M -$1.234M
YoY Change 510.62% -38.18%
Depreciation, Depletion And Amortization $3.100M $3.056M
YoY Change 1.44% 9.89%
Cash From Operating Activities -$9.300M $17.90M
YoY Change -151.96% -158.88%
INVESTING ACTIVITIES
Capital Expenditures -$2.800M -$3.300M
YoY Change -15.15% -28.26%
Acquisitions
YoY Change
Other Investing Activities -$1.000M $21.00M
YoY Change -104.76% -52.91%
Cash From Investing Activities -$3.800M $17.70M
YoY Change -121.47% -55.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.000M -45.70M
YoY Change -82.49% 2076.19%
NET CHANGE
Cash From Operating Activities -9.300M 17.90M
Cash From Investing Activities -3.800M 17.70M
Cash From Financing Activities -8.000M -45.70M
Net Change In Cash -21.10M -10.10M
YoY Change 108.91% -234.67%
FREE CASH FLOW
Cash From Operating Activities -$9.300M $17.90M
Capital Expenditures -$2.800M -$3.300M
Free Cash Flow -$6.500M $21.20M
YoY Change -130.66% -182.17%

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2300000 USD
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282000 USD
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282000 USD
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10470000 USD
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6112000 USD
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213006000 USD
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152724000 USD
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140700000 USD
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0 USD
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6304000 USD
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13 state
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0 shares
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0 USD
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0 USD
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1141000 USD
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1621000 USD
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3000 USD
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3030000 USD
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29090000 USD
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27512000 USD
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7522000 USD
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4166000 USD
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6558000 USD
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OtherCostAndExpenseOperating
13123000 USD
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3940000 USD
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134253000 USD
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102527000 USD
us-gaap Payments Of Debt Issuance Costs
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0 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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0 USD
us-gaap Payments To Acquire Property Plant And Equipment
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6017000 USD
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
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PreferredStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
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0 shares
us-gaap Proceeds From Issuance Of Long Term Debt
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137900000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
250000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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-388000 USD
us-gaap Proceeds From Sale Of Buildings
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2471000 USD
us-gaap Proceeds From Sale Of Buildings
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74000 USD
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19138000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18981000 USD
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123457000 USD
CY2015Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
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132462000 USD
CY2016Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
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140139000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-231435000 USD
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StandardProductWarrantyAccrual
27681000 USD
CY2016Q3 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
138108000 USD
CY2016Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
144299000 USD
CY2017Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
146916000 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
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19819000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
35463000 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
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60555000 USD
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26482000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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53569000 USD
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us-gaap Real Estate Revenue Net
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425468000 USD
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RealEstateRevenueNet
764709000 USD
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208221000 USD
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256207000 USD
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25000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
25000000 USD
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RestrictedCashAndCashEquivalents
14405000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
14696000 USD
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14582000 USD
us-gaap Sales Commissions And Fees
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28356000 USD
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us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
29955000 USD
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3787000 USD
us-gaap Share Based Compensation
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4517000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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CY2016Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
40903000 USD
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StandardProductWarrantyAccrual
39131000 USD
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StandardProductWarrantyAccrual
32309000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
25386000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
11149000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
23132000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
12635000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
27507000 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
CY2017Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
2463000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
7855000 USD
CY2016Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3086000 USD
CY2017Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3249000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5907000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
638022000 USD
CY2016Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
15514000 USD
CY2017Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
15709000 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31808000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31783000 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31969000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31931000 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
155000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
3676000 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 condensed consolidated financial statements and accompanying notes. Accordingly, actual results could differ from these estimates.</font></div></div>

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