2018 Q2 Form 10-Q Financial Statement

#000140666618000070 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q3
Revenue $111.7M $126.1M
YoY Change -4.95% 4.07%
Cost Of Revenue $60.84M $82.80M
YoY Change -26.83% 22.41%
Gross Profit $50.87M $44.63M
YoY Change 47.97% -16.64%
Gross Profit Margin 45.54% 35.39%
Selling, General & Admin $30.90M $28.65M
YoY Change -5.47% -1.85%
% of Gross Profit 60.74% 64.19%
Research & Development $22.10M $32.63M
YoY Change -34.63% 16.05%
% of Gross Profit 43.45% 73.11%
Depreciation & Amortization $2.320M $2.470M
YoY Change -5.81% -16.55%
% of Gross Profit 4.56% 5.53%
Operating Expenses $53.79M $61.90M
YoY Change -19.94% 17.21%
Operating Profit -$2.926M -$17.26M
YoY Change -91.08% -2448.71%
Interest Expense -$165.0K -$60.00K
YoY Change -475.0% -138.71%
% of Operating Profit
Other Income/Expense, Net $456.0K -$305.0K
YoY Change 280.0% -1116.67%
Pretax Income -$2.635M -$17.63M
YoY Change -91.93% -2186.15%
Income Tax $158.0K $225.0K
% Of Pretax Income
Net Earnings -$2.793M -$17.85M
YoY Change -91.62% -2907.08%
Net Earnings / Revenue -2.5% -14.16%
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$53.54K -$0.35
COMMON SHARES
Basic Shares Outstanding 51.97M shares 50.34M shares
Diluted Shares Outstanding 50.34M shares

Balance Sheet

Concept 2018 Q2 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.20M $50.20M
YoY Change -6.41% -18.11%
Cash & Equivalents $48.18M $64.18M
Short-Term Investments $12.90M
Other Short-Term Assets $11.10M $51.20M
YoY Change -78.82% 68.42%
Inventory $19.99M $36.32M
Prepaid Expenses
Receivables $69.54M $44.23M
Other Receivables $0.00 $0.00
Total Short-Term Assets $148.8M $185.7M
YoY Change -30.69% -1.84%
LONG-TERM ASSETS
Property, Plant & Equipment $15.56M $17.00M
YoY Change -14.26% 6.12%
Goodwill $116.2M $116.2M
YoY Change 0.0% 0.0%
Intangibles $0.00
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets $1.981M $777.0K
YoY Change 142.77% -17.08%
Total Long-Term Assets $133.7M $133.9M
YoY Change -1.05% -0.6%
TOTAL ASSETS
Total Short-Term Assets $148.8M $185.7M
Total Long-Term Assets $133.7M $133.9M
Total Assets $282.5M $319.6M
YoY Change -19.24% -1.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.11M $29.58M
YoY Change 6.49% 52.93%
Accrued Expenses $47.45M $59.40M
YoY Change -38.4% 21.18%
Deferred Revenue
YoY Change
Short-Term Debt $30.00M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $120.8M $147.2M
YoY Change -17.26% 74.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.051M $881.0K
YoY Change 164.65% -10.01%
Total Long-Term Liabilities $2.051M $881.0K
YoY Change 164.65% -10.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $120.8M $147.2M
Total Long-Term Liabilities $2.051M $881.0K
Total Liabilities $141.3M $169.3M
YoY Change -15.69% 60.57%
SHAREHOLDERS EQUITY
Retained Earnings -$680.1M -$654.5M
YoY Change 10.11% 14.25%
Common Stock $861.7M $845.2M
YoY Change 2.53% 1.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $39.99M $39.99M
YoY Change 0.0% 0.0%
Treasury Stock Shares 5.330M shares 5.330M shares
Shareholders Equity $141.2M $150.4M
YoY Change
Total Liabilities & Shareholders Equity $282.5M $319.6M
YoY Change -19.24% -1.33%

Cashflow Statement

Concept 2018 Q2 2017 Q3
OPERATING ACTIVITIES
Net Income -$2.793M -$17.85M
YoY Change -91.62% -2907.08%
Depreciation, Depletion And Amortization $2.320M $2.470M
YoY Change -5.81% -16.55%
Cash From Operating Activities $3.140M $2.020M
YoY Change -113.39% -1653.85%
INVESTING ACTIVITIES
Capital Expenditures -$1.080M -$2.610M
YoY Change -151.28% 14.47%
Acquisitions
YoY Change
Other Investing Activities $0.00 $12.31M
YoY Change -100.0% 44.82%
Cash From Investing Activities -$1.080M $9.690M
YoY Change -352.34% 55.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.880M -850.0K
YoY Change -459.26% 254.17%
NET CHANGE
Cash From Operating Activities 3.140M 2.020M
Cash From Investing Activities -1.080M 9.690M
Cash From Financing Activities 3.880M -850.0K
Net Change In Cash 5.940M 10.86M
YoY Change -124.64% 85.64%
FREE CASH FLOW
Cash From Operating Activities $3.140M $2.020M
Capital Expenditures -$1.080M -$2.610M
Free Cash Flow $4.220M $4.630M
YoY Change -116.51% 115.35%

Facts In Submission

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3000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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1130000 USD
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0.025
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288064000 USD
CY2017Q3 us-gaap Research And Development Expense
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0 shares
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PreferredStockSharesOutstanding
0 shares
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0 USD
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PreferredStockValue
0 USD
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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3836000 USD
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0 USD
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0 USD
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5051000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
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0 USD
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29000 USD
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51000 USD
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CY2018Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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8708000 USD
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3256000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6554000 USD
CY2018Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
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us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3549000 USD
CY2017Q3 us-gaap Product Warranty Accrual Warranties Issued
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us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3605000 USD
CY2018Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1560000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3029000 USD
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us-gaap Profit Loss
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15681000 USD
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15557000 USD
CY2018Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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62300000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
66758000 USD
us-gaap Revenues
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211105000 USD
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107348000 USD
us-gaap Sales Revenue Goods Net
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198953000 USD
CY2018Q2 us-gaap Sales Revenue Goods Net
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us-gaap Selling And Marketing Expense
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40428000 USD
us-gaap Share Based Compensation
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6318000 USD
us-gaap Share Based Compensation
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5301000 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
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us-gaap Sales Revenue Goods Net
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CY2017Q3 us-gaap Sales Revenue Services Net
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us-gaap Sales Revenue Services Net
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us-gaap Sales Revenue Services Net
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15251000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
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us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
40858000 USD
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.20
CY2018Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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6.14
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2018Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
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7075 shares
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8495 shares
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us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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211105000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
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35700000 USD
us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period
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P1Y
CY2017Q3 us-gaap Revenues
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us-gaap Revenues
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243641000 USD
CY2018Q2 us-gaap Revenues
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CY2018Q2 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Treasury Stock Shares
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CY2018Q2 us-gaap Treasury Stock Shares
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CY2017Q4 us-gaap Treasury Stock Value
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CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
39986000 USD
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
49772000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52290000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51952000 shares

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