2017 Q3 Form 10-Q Financial Statement

#000091584017000027 Filed on August 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $673.0M $478.6M $459.9M
YoY Change 6.46% 4.06% 7.1%
Cost Of Revenue $557.9M $399.7M $370.4M
YoY Change 5.36% 7.91% 4.9%
Gross Profit $113.4M $78.44M $77.65M
YoY Change 10.7% 1.02% 2.03%
Gross Profit Margin 16.84% 16.39% 16.88%
Selling, General & Admin $70.70M $59.60M $58.00M
YoY Change 5.21% 2.76% 5.65%
% of Gross Profit 62.37% 75.98% 74.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.900M $3.300M $3.387M
YoY Change 11.36% -2.57% -3.15%
% of Gross Profit 4.32% 4.21% 4.36%
Operating Expenses $75.60M $62.80M $61.30M
YoY Change 5.59% 2.45% 4.97%
Operating Profit $37.78M $15.57M $16.31M
YoY Change 22.52% -4.54% -7.84%
Interest Expense -$3.200M $2.934M $5.406M
YoY Change -45.76% -45.73% -9.2%
% of Operating Profit -8.47% 18.85% 33.15%
Other Income/Expense, Net $200.0K $100.0K $100.0K
YoY Change 100.0% 0.0% -50.0%
Pretax Income $37.70M $12.86M $11.46M
YoY Change 177.21% 12.22% -5.21%
Income Tax $4.000M $5.742M $5.349M
% Of Pretax Income 10.61% 44.66% 46.69%
Net Earnings $33.70M $7.123M $5.782M
YoY Change -3844.44% 23.19% -52.51%
Net Earnings / Revenue 5.01% 1.49% 1.26%
Basic Earnings Per Share $0.22 $0.18
Diluted Earnings Per Share $994.1K $0.22 $0.18
COMMON SHARES
Basic Shares Outstanding 33.54M shares 31.97M shares 31.81M shares
Diluted Shares Outstanding 32.38M shares 31.82M shares

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $292.1M $168.4M $127.2M
YoY Change 27.61% 32.39% -1.24%
Cash & Equivalents $304.6M $181.1M $127.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.543B $1.656B $1.732B
Prepaid Expenses
Receivables $36.30M $39.80M $65.90M
Other Receivables $100.0K $400.0K $200.0K
Total Short-Term Assets $1.871B $1.865B $1.925B
YoY Change 1.06% -3.15% -3.55%
LONG-TERM ASSETS
Property, Plant & Equipment $17.57M $18.66M $21.01M
YoY Change -8.21% -11.19% -7.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.994M $3.900M $9.400M
YoY Change -61.85% -58.51% -17.54%
Other Assets $320.4M $325.1M $343.6M
YoY Change -1.23% -5.38% 806.6%
Total Long-Term Assets $349.7M $357.1M $393.4M
YoY Change -3.25% -9.23% 317.77%
TOTAL ASSETS
Total Short-Term Assets $1.871B $1.865B $1.925B
Total Long-Term Assets $349.7M $357.1M $393.4M
Total Assets $2.221B $2.222B $2.319B
YoY Change 0.35% -4.18% 10.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.5M $119.4M $109.4M
YoY Change -0.67% 9.14% -13.93%
Accrued Expenses $69.80M $75.80M $88.90M
YoY Change -23.55% -14.74% 10.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $185.8M $213.6M $214.9M
YoY Change -11.27% -0.6% -6.32%
LONG-TERM LIABILITIES
Long-Term Debt $1.327B $1.335B $1.430B
YoY Change -0.34% -6.64% -8.02%
Other Long-Term Liabilities $25.40M $25.50M $32.80M
YoY Change -12.71% -22.26% -3.53%
Total Long-Term Liabilities $1.353B $1.360B $1.462B
YoY Change -0.6% -6.99% -7.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $185.8M $213.6M $214.9M
Total Long-Term Liabilities $1.353B $1.360B $1.462B
Total Liabilities $1.539B $1.574B $1.677B
YoY Change -2.02% -6.17% -7.72%
SHAREHOLDERS EQUITY
Retained Earnings -$190.7M -$224.3M -$221.6M
YoY Change -14.3% 1.22% -62.01%
Common Stock $873.1M $872.3M $863.0M
YoY Change 0.9% 1.07% 0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $682.4M $647.9M $641.4M
YoY Change
Total Liabilities & Shareholders Equity $2.221B $2.222B $2.319B
YoY Change 0.35% -4.18% 10.93%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $33.70M $7.123M $5.782M
YoY Change -3844.44% 23.19% -52.51%
Depreciation, Depletion And Amortization $4.900M $3.300M $3.387M
YoY Change 11.36% -2.57% -3.15%
Cash From Operating Activities $144.8M $32.20M $29.00M
YoY Change -25.32% 11.03% -182.39%
INVESTING ACTIVITIES
Capital Expenditures -$3.700M -$3.000M -$3.700M
YoY Change 48.0% -18.92% -13.95%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$600.0K -$1.800M
YoY Change -100.0% -66.67% -140.91%
Cash From Investing Activities -$3.900M -$3.500M -$5.500M
YoY Change -83.47% -36.36% -2850.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.40M -1.000M -31.20M
YoY Change -81.31% -96.79% -277.27%
NET CHANGE
Cash From Operating Activities 144.8M 32.20M 29.00M
Cash From Investing Activities -3.900M -3.500M -5.500M
Cash From Financing Activities -17.40M -1.000M -31.20M
Net Change In Cash 123.5M 27.70M -7.700M
YoY Change 59.97% -459.74% -55.75%
FREE CASH FLOW
Cash From Operating Activities $144.8M $32.20M $29.00M
Capital Expenditures -$3.700M -$3.000M -$3.700M
Free Cash Flow $148.5M $35.20M $32.70M
YoY Change -24.39% 7.65% -205.83%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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403000 USD
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3138000 USD
us-gaap Payments To Acquire Equity Method Investments
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3005000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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0 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9718000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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8661000 USD
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PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
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PreferredStockSharesAuthorized
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5000000 shares
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1621000 USD
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3000 USD
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137900000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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250000000 USD
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50000000 USD
us-gaap Proceeds From Lines Of Credit
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25000000 USD
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-438000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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-403000 USD
us-gaap Proceeds From Sale Of Buildings
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2549000 USD
us-gaap Proceeds From Sale Of Buildings
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126000 USD
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20467000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
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50191000 USD
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21895000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
57358000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
89313000 USD
CY2017Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
26243000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
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50000000 USD
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25000000 USD
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SalesCommissionsAndFees
45856000 USD
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SalesCommissionsAndFees
18773000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
48728000 USD
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5844000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7327000 USD
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15707 shares
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SharesPaidForTaxWithholdingForShareBasedCompensation
31359 shares
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StandardProductWarrantyAccrual
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StandardProductWarrantyAccrual
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StandardProductWarrantyAccrual
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StandardProductWarrantyAccrual
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StandardProductWarrantyAccrual
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CY2016Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
15028000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
38161000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
7998000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
35439000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
11148000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
41801000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-1293000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
6581000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3567000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
9269000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3727000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
9549000 USD
CY2016Q3 us-gaap Stockholders Equity
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CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
647940000 USD
CY2016Q3 us-gaap Unamortized Debt Issuance Expense
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15514000 USD
CY2017Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
14908000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31820000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31797000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32375000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31944000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31813000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31793000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31971000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31944000 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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