2018 Q4 Form 10-Q Financial Statement

#000171036618000024 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $382.2M $324.2M $352.3M
YoY Change 8.49% -3.3% -6.89%
Cost Of Revenue $5.800M $2.400M $21.80M
YoY Change -73.39% -88.99% 74.4%
Gross Profit $375.6M $321.4M $325.2M
YoY Change 15.5% 2.49% -10.71%
Gross Profit Margin 98.26% 99.12% 92.3%
Selling, General & Admin $17.63M $18.53M $25.01M
YoY Change -29.5% -12.53% 25.98%
% of Gross Profit 4.69% 5.76% 7.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.59M $51.24M $47.09M
YoY Change -3.18% 9.84% -6.38%
% of Gross Profit 12.14% 15.94% 14.48%
Operating Expenses $17.63M $18.53M $204.3M
YoY Change -91.37% -91.93% -19.54%
Operating Profit $358.0M $302.9M $120.9M
YoY Change 196.1% 260.25% 9.61%
Interest Expense $20.44M $20.86M $14.27M
YoY Change 43.22% 440.19% 250.18%
% of Operating Profit 5.71% 6.89% 11.8%
Other Income/Expense, Net
YoY Change
Pretax Income $46.34M $8.394M $39.80M
YoY Change 16.42% -31.69% 5.47%
Income Tax $301.0K -$690.0K $64.44M
% Of Pretax Income 0.65% -8.22% 161.91%
Net Earnings $39.67M $5.734M -$29.01M
YoY Change -236.74% -25.8% -256.82%
Net Earnings / Revenue 10.38% 1.77% -8.23%
Basic Earnings Per Share $1.43 $0.20 -$1.04
Diluted Earnings Per Share $1.41 $0.20 -$1.04
COMMON SHARES
Basic Shares Outstanding 27.78M shares 27.98M shares 27.97M shares
Diluted Shares Outstanding 28.58M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $235.7M $250.5M $154.0M
YoY Change 53.05% 6670.27%
Cash & Equivalents $235.7M $250.5M $154.0M
Short-Term Investments
Other Short-Term Assets $60.70M $58.10M $23.70M
YoY Change 156.12% 165.3%
Inventory $48.65M $52.47M $53.42M
Prepaid Expenses $23.74M
Receivables $87.59M $78.65M $131.5M
Other Receivables $41.36M $29.21M $36.55M
Total Short-Term Assets $474.0M $468.9M $399.2M
YoY Change 18.71% 144.39% 99.49%
LONG-TERM ASSETS
Property, Plant & Equipment $2.107B $2.104B $2.122B
YoY Change -0.74% 0.37% -2.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $180.2M $173.3M $185.6M
YoY Change -2.87% -42.36% -39.56%
Total Long-Term Assets $2.287B $2.277B $2.308B
YoY Change -0.91% -4.99% -7.21%
TOTAL ASSETS
Total Short-Term Assets $474.0M $468.9M $399.2M
Total Long-Term Assets $2.287B $2.277B $2.308B
Total Assets $2.761B $2.746B $2.707B
YoY Change 1.98% 6.08% 0.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $130.9M $102.4M $109.1M
YoY Change 20.01% 13.47% 31.61%
Accrued Expenses $226.4M $249.8M $290.6M
YoY Change -22.09% -7.17% -0.51%
Deferred Revenue $155.0K $6.807M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $118.0M $4.318M $19.32M
YoY Change 510.59% 1057.64% 5079.09%
Total Short-Term Liabilities $492.2M $373.1M $422.2M
YoY Change 16.57% 2.84% 11.37%
LONG-TERM LIABILITIES
Long-Term Debt $708.5M $826.8M $856.7M
YoY Change -17.29% 185.49% 183.82%
Other Long-Term Liabilities $16.57M $18.85M $24.04M
YoY Change -31.08% 35.84% 60.85%
Total Long-Term Liabilities $725.1M $845.6M $880.7M
YoY Change -17.67% 178.65% 178.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $492.2M $373.1M $422.2M
Total Long-Term Liabilities $725.1M $845.6M $880.7M
Total Liabilities $2.209B $2.283B $2.363B
YoY Change -6.53% 27.46% 25.23%
SHAREHOLDERS EQUITY
Retained Earnings $182.1M $148.6M -$43.71M
YoY Change -516.69%
Common Stock $274.0K $278.0K $280.0K
YoY Change -2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $409.9M $320.9M $204.3M
YoY Change
Total Liabilities & Shareholders Equity $2.761B $2.746B $2.707B
YoY Change 1.98% 6.08% 0.73%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $39.67M $5.734M -$29.01M
YoY Change -236.74% -25.8% -256.82%
Depreciation, Depletion And Amortization $45.59M $51.24M $47.09M
YoY Change -3.18% 9.84% -6.38%
Cash From Operating Activities $83.20M $52.10M $76.40M
YoY Change 8.9% -23.04% -51.86%
INVESTING ACTIVITIES
Capital Expenditures -$48.80M -$40.70M -$30.40M
YoY Change 60.53% 46.4% 178.9%
Acquisitions
YoY Change
Other Investing Activities -$9.300M $200.0K $6.700M
YoY Change -238.81% -77.78% 139.29%
Cash From Investing Activities -$58.10M -$40.50M -$23.70M
YoY Change 145.15% 50.56% 189.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -36.50M -19.70M 97.60M
YoY Change -137.4% -55.02% -167.92%
NET CHANGE
Cash From Operating Activities 83.20M 52.10M 76.40M
Cash From Investing Activities -58.10M -40.50M -23.70M
Cash From Financing Activities -36.50M -19.70M 97.60M
Net Change In Cash -11.40M -8.100M 150.3M
YoY Change -107.58% 170.0% 2110.29%
FREE CASH FLOW
Cash From Operating Activities $83.20M $52.10M $76.40M
Capital Expenditures -$48.80M -$40.70M -$30.40M
Free Cash Flow $132.0M $92.80M $106.8M
YoY Change 23.6% -2.83% -37.03%

Facts In Submission

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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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0 USD
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
330252000 USD
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NetIncomeLossAttributableToNoncontrollingInterest
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NetIncomeLossAttributableToNoncontrollingInterest
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OtherAssetsNoncurrent
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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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CY2017Q3 us-gaap Other Income
OtherIncome
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us-gaap Other Income
OtherIncome
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OtherIncome
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us-gaap Other Income
OtherIncome
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OtherLiabilitiesNoncurrent
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OtherNonoperatingIncome
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OtherNonoperatingIncome
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OtherNonoperatingIncome
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OtherNonoperatingIncome
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PaymentsForProceedsFromBusinessesAndInterestInAffiliates
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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PaymentsOfDebtIssuanceCosts
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PaymentsOfFinancingCosts
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PaymentsOfFinancingCosts
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Minority Shareholders
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CY2018Q3 us-gaap Preferred Stock Shares Authorized
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CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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PrepaidExpenseAndOtherAssetsCurrent
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Payments To Minority Shareholders
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ProceedsFromPaymentsToMinorityShareholders
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us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
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ProceedsFromRepaymentsOfLinesOfCredit
0 USD
us-gaap Proceeds From Sale Of Productive Assets
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17921000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1368000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
8518000 USD
us-gaap Profit Loss
ProfitLoss
107209000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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PropertyPlantAndEquipmentGross
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CY2017Q4 us-gaap Property Plant And Equipment Net
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CY2017Q3 us-gaap Rental Income Nonoperating
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us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
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CY2018Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
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us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
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us-gaap Repayments Of Long Term Capital Lease Obligations
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us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2017Q4 us-gaap Restricted Cash
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CY2018Q3 us-gaap Restricted Cash
RestrictedCash
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CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2017Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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CY2018Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18526000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47715000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15074000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7638000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
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50000000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
281272 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11259000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
204260000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
320934000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
343641000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
462461000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
40.03
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27967509 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27967509 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28575860 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28528015 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27967509 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27967509 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27982538 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28011488 shares
CY2017Q4 us-gaap Workers Compensation Liability Current
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13317000 USD
CY2018Q3 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
12369000 USD
CY2017Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
66648000 USD
CY2018Q3 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
65346000 USD

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