2021 Q1 Form 10-Q Financial Statement

#000110465921063874 Filed on May 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $97.67M $97.00M
YoY Change 0.69% 4.65%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $12.39M $10.41M
YoY Change 19.0% 10.79%
% of Gross Profit
Depreciation & Amortization $4.034M $4.079M
YoY Change -1.1% -49.01%
% of Gross Profit
Operating Expenses $12.39M $10.41M
YoY Change 19.0% 10.79%
Operating Profit
YoY Change
Interest Expense $3.711M $6.941M
YoY Change -46.54% 19.22%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $64.96M $49.42M
YoY Change 31.44% -4.01%
Income Tax $12.11M $9.285M
% Of Pretax Income 18.64% 18.79%
Net Earnings $52.85M $40.13M
YoY Change 31.68% -4.32%
Net Earnings / Revenue 54.11% 41.38%
Basic Earnings Per Share $0.98 $0.77
Diluted Earnings Per Share $0.97 $0.76
COMMON SHARES
Basic Shares Outstanding 53.85M 52.04M
Diluted Shares Outstanding 54.28M 52.46M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.151B $529.3M
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 $161.2M $163.0M
YoY Change -1.11% 7.24%
Goodwill $793.5M $773.5M
YoY Change 2.58% 5.45%
Intangibles $49.59M $59.45M
YoY Change -16.58% -16.17%
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 $14.62B $11.81B
YoY Change 23.81% 8.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $178.0M $227.0M
YoY Change -21.59% 47.4%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $258.0M $205.0M
YoY Change 25.85% -18.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $178.0M $227.0M
YoY Change -21.59% 19.47%
LONG-TERM LIABILITIES
Long-Term Debt $3.000M $91.00M
YoY Change -96.7% -7.14%
Other Long-Term Liabilities $1.000M
YoY Change 0.0%
Total Long-Term Liabilities $3.000M $92.00M
YoY Change -96.74% -7.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $178.0M $227.0M
Total Long-Term Liabilities $3.000M $92.00M
Total Liabilities $12.65B $9.832B
YoY Change 28.65% 7.35%
SHAREHOLDERS EQUITY
Retained Earnings $990.5M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.572M
YoY Change
Treasury Stock Shares $144.4K
Shareholders Equity $1.971B $1.977B
YoY Change
Total Liabilities & Shareholders Equity $14.62B $11.81B
YoY Change 23.81% 8.18%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $52.85M $40.13M
YoY Change 31.68% -4.32%
Depreciation, Depletion And Amortization $4.034M $4.079M
YoY Change -1.1% -49.01%
Cash From Operating Activities $61.81M $26.69M
YoY Change 131.55% -22.85%
INVESTING ACTIVITIES
Capital Expenditures $876.0K $3.020M
YoY Change -70.99% -351.67%
Acquisitions $0.00
YoY Change
Other Investing Activities -$414.1M $52.40M
YoY Change -890.27% 1.35%
Cash From Investing Activities -$415.0M $49.42M
YoY Change -939.74% -1.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$7.261M -$6.325M
YoY Change 14.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 858.7M 248.2M
YoY Change 245.98% 17.35%
NET CHANGE
Cash From Operating Activities 61.81M 26.69M
Cash From Investing Activities -415.0M 49.42M
Cash From Financing Activities 858.7M 248.2M
Net Change In Cash 505.5M 324.3M
YoY Change 55.88% 9.38%
FREE CASH FLOW
Cash From Operating Activities $61.81M $26.69M
Capital Expenditures $876.0K $3.020M
Free Cash Flow $60.93M $23.67M
YoY Change 157.39% -33.87%

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CY2021Q1 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
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CY2021Q1 cbu Outstanding Loan Balances Of5 Number Of Consumer Borrowers
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CY2020 cbu Number Of Borrowers Representing65.7 Million In Outstanding Loan Balances
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65700000
CY2020 cbu Number Of Borrowers Representing0.8 Million In Outstanding Loan Balances
NumberOfBorrowersRepresenting0.8MillionInOutstandingLoanBalances
11
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800000
CY2021Q1 cbu Financing Receivable Modifications Number Of Contracts
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CY2021Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
6684000
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FinancingReceivableModificationsRecordedInvestment
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CY2021Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
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CY2021Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
183000
CY2020Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
22
CY2020Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
756000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
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CY2021Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
1966000
CY2021Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
1585000
CY2021Q1 us-gaap Provision For Loan And Lease Losses
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CY2021Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2020Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
1489000
CY2021Q1 cbu Off Balance Sheet Credit Loss Liability Charge Offs
OffBalanceSheetCreditLossLiabilityChargeOffs
0
CY2021Q1 cbu Off Balance Sheet Credit Loss Liability Recovery
OffBalanceSheetCreditLossLiabilityRecovery
0
CY2021Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
-300000
CY2021Q1 us-gaap Off Balance Sheet Credit Loss Liability
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1189000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
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62358000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1966000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
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CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2021Q1 cbu Allowance For Credit Losses To Total Loans Ratio
AllowanceForCreditLossesToTotalLoansRatio
0.75
CY2021Q1 cbu Allowance For Credit Losses To Total Loans Ratio Basis Spread Lower Than Level
AllowanceForCreditLossesToTotalLoansRatioBasisSpreadLowerThanLevel
0.06
CY2020 cbu Allowance For Credit Losses To Total Loans Ratio Basis Spread Lower Than Level
AllowanceForCreditLossesToTotalLoansRatioBasisSpreadLowerThanLevel
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CY2021Q1 us-gaap Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
20900000
CY2021Q1 us-gaap Financing Receivable Significant Purchases
FinancingReceivableSignificantPurchases
0
CY2021Q1 us-gaap Financing Receivable Significant Sales
FinancingReceivableSignificantSales
8284000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
159865000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
110276000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49589000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
159865000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
106925000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
52940000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
9289000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
10844000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9082000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
7551000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6374000
CY2021Q1 cbu Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
6449000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49589000
CY2020Q4 us-gaap Goodwill
Goodwill
793708000
CY2021Q1 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
-252000
CY2021Q1 us-gaap Goodwill
Goodwill
793456000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30000.00
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
52850000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
40134000
CY2021Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
-130000
CY2020Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
-146000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
52720000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
39988000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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53845000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52036000
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
52850000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
40134000
CY2021Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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-130000
CY2020Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
-146000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
52720000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
39988000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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53845000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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52036000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
438000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
420000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54283000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52456000
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2019Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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2600000
CY2020Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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2680000
CY2020Q1 us-gaap Treasury Stock Shares Acquired
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0
CY2021Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2021Q1 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
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1315491000
CY2020Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
FairValueDisclosureOffbalanceSheetRisksFaceAmountLiability
1352781000
CY2020 us-gaap Litigation Settlement Expense
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3000000.0
CY2021Q1 cbu Business Lending Loans Held For Sale Unpaid Principal Balance
BusinessLendingLoansHeldForSaleUnpaidPrincipalBalance
800000
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
791000
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
388000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
1588000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
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1074000
CY2021Q1 us-gaap Interest Income Expense Net
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93954000
CY2021Q1 us-gaap Provision For Loan Lease And Other Losses
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-5719000
CY2021Q1 us-gaap Noninterest Income
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58531000
CY2021Q1 us-gaap Amortization Of Intangible Assets
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3351000
CY2021Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
27000
CY2021Q1 us-gaap Other Cost And Expense Operating
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89868000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
64958000
CY2021Q1 us-gaap Assets
Assets
14620181000
CY2021Q1 us-gaap Goodwill
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793456000
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
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49589000
CY2020Q1 us-gaap Interest Income Expense Net
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90054000
CY2020Q1 us-gaap Provision For Loan Lease And Other Losses
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5594000
CY2020Q1 us-gaap Noninterest Income
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58622000
CY2020Q1 us-gaap Amortization Of Intangible Assets
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3667000
CY2020Q1 us-gaap Business Combination Acquisition Related Costs
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369000
CY2020Q1 us-gaap Other Cost And Expense Operating
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89627000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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49419000
CY2020Q1 us-gaap Assets
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11808983000
CY2020Q1 us-gaap Goodwill
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773473000
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
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59446000

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