2018 Q3 Form 10-Q Financial Statement

#000143774918020118 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $176.9M $154.1M
YoY Change 14.79% 24.1%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.700M $1.900M
YoY Change -10.53% 5.56%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $31.78M $20.88M
YoY Change 52.2% 2.71%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $88.46M $84.91M
YoY Change 4.18% 37.18%
Income Tax $18.70M $35.16M
% Of Pretax Income 21.14% 41.41%
Net Earnings $69.76M $49.75M
YoY Change 40.23% 7.93%
Net Earnings / Revenue 39.44% 32.29%
Basic Earnings Per Share $0.86 $0.62
Diluted Earnings Per Share $0.85 $0.61
COMMON SHARES
Basic Shares Outstanding 81.31M 80.67M
Diluted Shares Outstanding 81.86M 81.40M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $582.0M $618.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $102.6M $108.0M
YoY Change -4.99% 1.0%
Goodwill $372.2M $372.2M
YoY Change 0.0% 0.0%
Intangibles $7.391M $9.408M
YoY Change -21.44% 197.91%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $16.46B $15.73B
YoY Change 4.66% 11.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $100.0M
YoY Change -100.0% -60.0%
Long-Term Debt Due $19.00M
YoY Change
Total Short-Term Liabilities $19.00M $100.0M
YoY Change -81.0% -60.0%
LONG-TERM LIABILITIES
Long-Term Debt $193.0M $137.0M
YoY Change 40.88% -42.19%
Other Long-Term Liabilities $227.0M $354.0M
YoY Change -35.88% 113.25%
Total Long-Term Liabilities $420.0M $491.0M
YoY Change -14.46% 21.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.00M $100.0M
Total Long-Term Liabilities $420.0M $491.0M
Total Liabilities $14.34B $13.76B
YoY Change 4.25% 11.82%
SHAREHOLDERS EQUITY
Retained Earnings $1.439B $1.275B
YoY Change 12.89% 11.44%
Common Stock $896.0K $890.0K
YoY Change 0.67% 2.18%
Preferred Stock
YoY Change
Treasury Stock (at cost) $239.6M $239.6M
YoY Change 0.0% 0.0%
Treasury Stock Shares $8.211M $8.211M
Shareholders Equity $2.117B $1.969B
YoY Change
Total Liabilities & Shareholders Equity $16.46B $15.73B
YoY Change 4.66% 11.56%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $69.76M $49.75M
YoY Change 40.23% 7.93%
Depreciation, Depletion And Amortization $1.700M $1.900M
YoY Change -10.53% 5.56%
Cash From Operating Activities $89.20M -$6.600M
YoY Change -1451.52% -108.34%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M $700.0K
YoY Change -357.14% -153.85%
Acquisitions
YoY Change
Other Investing Activities -$124.8M -$237.7M
YoY Change -47.5% -63.56%
Cash From Investing Activities -$126.4M -$237.0M
YoY Change -46.67% -63.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 215.2M 308.2M
YoY Change -30.18% -43.87%
NET CHANGE
Cash From Operating Activities 89.20M -6.600M
Cash From Investing Activities -126.4M -237.0M
Cash From Financing Activities 215.2M 308.2M
Net Change In Cash 178.0M 64.60M
YoY Change 175.54% -353.33%
FREE CASH FLOW
Cash From Operating Activities $89.20M -$6.600M
Capital Expenditures -$1.800M $700.0K
Free Cash Flow $91.00M -$7.300M
YoY Change -1346.58% -109.08%

Facts In Submission

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CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2018Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2017Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2018Q3 us-gaap Cash And Due From Banks
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CY2017Q4 us-gaap Cash And Due From Banks
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us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
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CY2018Q3 us-gaap Commitments And Contingencies
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CY2017Q4 us-gaap Commitments And Contingencies
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us-gaap Common Stock Dividends Per Share Cash Paid
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us-gaap Common Stock Dividends Per Share Cash Paid
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CY2017Q4 us-gaap Common Stock Value
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CY2017Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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24000
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CY2017Q4 us-gaap Deposits
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CY2018Q3 us-gaap Deposits Fair Value Disclosure
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CY2017Q4 us-gaap Deposits Savings Deposits
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5593000
us-gaap Depreciation Depletion And Amortization
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5416000
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CY2017Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
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CY2018Q3 us-gaap Derivative Assets
DerivativeAssets
18419000
CY2017Q4 us-gaap Derivative Assets
DerivativeAssets
5218000
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DerivativeLiabilities
CY2017Q4 us-gaap Derivative Liabilities
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2699000
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CY2017Q4 us-gaap Derivative Liability Fair Value Of Collateral
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2699000
CY2018Q3 us-gaap Derivative Liability Notional Amount
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CY2017Q3 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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2.53
us-gaap Earnings Per Share Diluted
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us-gaap Effective Income Tax Rate Continuing Operations
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CY2017Q3 us-gaap Equipment Expense
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us-gaap Equipment Expense
EquipmentExpense
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us-gaap Equipment Expense
EquipmentExpense
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391000
CY2017Q3 us-gaap Equity Securities Fv Ni Gain Loss
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us-gaap Equity Securities Fv Ni Gain Loss
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us-gaap Equity Securities Fv Ni Gain Loss
EquitySecuritiesFvNiGainLoss
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391000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
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us-gaap Equity Securities Fv Ni Unrealized Gain Loss
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CY2018Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
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CY2017Q3 us-gaap Federal Deposit Insurance Corporation Premium Expense
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us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
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us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
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CY2018Q3 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
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CY2017Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2017Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses
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CY2016Q4 us-gaap Financing Receivable Allowance For Credit Losses
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CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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119753000
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
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CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
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CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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CY2017Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
6111000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
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us-gaap Financing Receivable Allowance For Credit Losses Recovery
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CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2017Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1019000
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
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CY2018Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
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CY2017Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
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CY2018Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
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CY2017Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
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FinancingReceivableModificationsNumberOfContracts2
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CY2017Q3 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
14
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
32
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
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CY2018Q3 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
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CY2017Q3 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
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us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
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us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
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CY2018Q3 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
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CY2017Q3 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
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us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
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us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
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CY2017Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
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CY2018Q3 us-gaap Financing Receivable Recorded Investment Past Due
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CY2017Q3 us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
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us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown
us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
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305000
us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Sales Of Loans Net
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CY2018Q3 us-gaap Goodwill
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CY2017Q4 us-gaap Goodwill
Goodwill
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CY2017Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
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us-gaap Impaired Financing Receivable Average Recorded Investment
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us-gaap Impaired Financing Receivable Average Recorded Investment
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CY2018Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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CY2017Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
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us-gaap Impaired Financing Receivable Interest Income Accrual Method
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us-gaap Impaired Financing Receivable Interest Income Accrual Method
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CY2018Q3 us-gaap Impaired Financing Receivable Recorded Investment
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CY2017Q4 us-gaap Impaired Financing Receivable Related Allowance
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CY2018Q3 us-gaap Impaired Financing Receivable Unpaid Principal Balance
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CY2017Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
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CY2018Q3 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
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CY2017Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
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CY2018Q3 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
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CY2018Q3 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
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CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
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CY2018Q3 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
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CY2017Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
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CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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255847000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018Q3 us-gaap Income Tax Expense Benefit
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CY2017Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Increase Decrease In Deposits
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us-gaap Increase Decrease In Deposits
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us-gaap Increase Decrease In Federal Funds Purchased And Securities Sold Under Agreements To Repurchase Net
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us-gaap Interest Expense Long Term Debt
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us-gaap Interest Expense Long Term Debt
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CY2018Q3 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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CY2017Q3 us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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us-gaap Increase Decrease In Other Operating Liabilities
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10998000
us-gaap Increase Decrease In Other Operating Liabilities
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828000
CY2018Q3 us-gaap Information Technology And Data Processing
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3080000
CY2017Q3 us-gaap Information Technology And Data Processing
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2918000
us-gaap Information Technology And Data Processing
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9450000
us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
7846000
CY2018Q3 us-gaap Intangible Assets Net Excluding Goodwill
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CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2018Q3 us-gaap Interest And Dividend Income Operating
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CY2017Q3 us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
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us-gaap Interest And Dividend Income Operating
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CY2018Q3 us-gaap Interest And Fee Income Loans And Leases
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CY2017Q3 us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest And Fee Income Loans And Leases
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CY2017Q3 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
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us-gaap Interest Expense
InterestExpense
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CY2018Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
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CY2017Q3 us-gaap Interest Expense Deposits
InterestExpenseDeposits
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us-gaap Interest Expense Deposits
InterestExpenseDeposits
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us-gaap Interest Expense Deposits
InterestExpenseDeposits
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1430000
CY2017Q3 us-gaap Interest Expense Federal Home Loan Bank And Federal Reserve Bank Advances Long Term
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872000
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CY2018Q3 us-gaap Interest Expense Long Term Debt
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us-gaap Interest Expense Securities Sold Under Agreements To Repurchase
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CY2017Q3 us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
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us-gaap Interest Expense Time Deposits
InterestExpenseTimeDeposits
56593000
us-gaap Interest Expense Time Deposits
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