2019 Q2 Form 10-Q Financial Statement

#000143774919016236 Filed on August 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $18.40M $17.49M $17.57M
YoY Change 5.18% -14.97% -17.47%
Cost Of Revenue $2.493M $1.988M $1.972M
YoY Change 25.4% 23.63% 16.27%
Gross Profit $15.91M $15.51M $15.60M
YoY Change 2.59% -18.25% -20.39%
Gross Profit Margin 86.45% 88.64% 88.78%
Selling, General & Admin $5.490M $6.232M $6.130M
YoY Change -11.91% 4.23% 21.07%
% of Gross Profit 34.51% 40.19% 39.3%
Research & Development $12.39M $11.84M $12.02M
YoY Change 4.62% 12.69% 21.71%
% of Gross Profit 77.89% 76.38% 77.04%
Depreciation & Amortization $1.030M $890.0K $576.0K
YoY Change 15.73% 12.66% 30.02%
% of Gross Profit 6.48% 5.74% 3.69%
Operating Expenses $18.09M $18.17M $18.51M
YoY Change -0.42% 8.16% 21.38%
Operating Profit -$2.183M -$2.661M -$2.908M
YoY Change -17.96% -222.63% -166.91%
Interest Expense $900.0K $780.0K $930.0K
YoY Change 15.38% 2.63% 63.16%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.287M -$1.884M -$1.981M
YoY Change -31.69% -164.41% -140.29%
Income Tax $225.0K $206.0K $201.0K
% Of Pretax Income
Net Earnings -$1.512M -$2.090M -$2.182M
YoY Change -27.66% -153.48% -153.13%
Net Earnings / Revenue -8.22% -11.95% -12.42%
Basic Earnings Per Share -$0.07 -$0.09 -$0.10
Diluted Earnings Per Share -$0.07 -$0.09 -$0.10
COMMON SHARES
Basic Shares Outstanding 21.94M 22.13K 22.15K
Diluted Shares Outstanding 21.94M 22.13K 22.15K

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.7M $93.15M $103.6M
YoY Change 8.06% 3.14% 34.75%
Cash & Equivalents $24.53M $10.70M $18.38M
Short-Term Investments $76.12M $82.45M $85.21M
Other Short-Term Assets $7.400M $6.200M $4.100M
YoY Change 19.35% 29.17% -10.87%
Inventory
Prepaid Expenses
Receivables $22.02M $9.246M $13.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $180.5M $149.9M $164.3M
YoY Change 20.37% 10.89% 24.44%
LONG-TERM ASSETS
Property, Plant & Equipment $7.416M $8.100M $6.805M
YoY Change -8.44% 31.56% 16.8%
Goodwill $46.61M $46.61M $46.61M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $15.60M $48.90M $47.80M
YoY Change -68.1% -9.94% -10.65%
Other Assets $6.493M $4.444M $4.272M
YoY Change 46.11% 8.58% 19.5%
Total Long-Term Assets $104.3M $124.9M $122.2M
YoY Change -16.5% 3.14% 2.22%
TOTAL ASSETS
Total Short-Term Assets $180.5M $149.9M $164.3M
Total Long-Term Assets $104.3M $124.9M $122.2M
Total Assets $284.8M $274.8M $286.5M
YoY Change 3.62% 7.23% 13.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $500.0K $1.000M $500.0K
YoY Change -50.0% 233.33% 25.0%
Accrued Expenses $4.490M $4.543M $4.113M
YoY Change -1.17% 51.13% 6.31%
Deferred Revenue $2.395M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.33M $20.85M $23.54M
YoY Change 2.31% 21.36% 4.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.80M $9.600M $400.0K
YoY Change 95.83% 1.05% -95.51%
Total Long-Term Liabilities $18.80M $9.600M $400.0K
YoY Change 95.83% 1.05% -95.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.33M $20.85M $23.54M
Total Long-Term Liabilities $18.80M $9.600M $400.0K
Total Liabilities $40.10M $30.50M $23.94M
YoY Change 31.48% 14.66% -23.75%
SHAREHOLDERS EQUITY
Retained Earnings $58.75M $58.07M $60.20M
YoY Change 1.18% 27.72% 40.19%
Common Stock $223.3M $219.4M $217.9M
YoY Change 1.81% 2.73% 2.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $37.50M $31.64M $24.15M
YoY Change 18.51% 8.88% -31.27%
Treasury Stock Shares $1.702M 1.565M shares 1.375M shares
Shareholders Equity $244.6M $244.4M $252.8M
YoY Change
Total Liabilities & Shareholders Equity $284.8M $274.8M $286.5M
YoY Change 3.62% 7.23% 13.88%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$1.512M -$2.090M -$2.182M
YoY Change -27.66% -153.48% -153.13%
Depreciation, Depletion And Amortization $1.030M $890.0K $576.0K
YoY Change 15.73% 12.66% 30.02%
Cash From Operating Activities -$3.410M $2.020M $1.783M
YoY Change -268.81% -52.58% -71.65%
INVESTING ACTIVITIES
Capital Expenditures -$730.0K -$2.630M $455.0K
YoY Change -72.24% 213.1% -68.29%
Acquisitions
YoY Change
Other Investing Activities $9.520M $2.030M -$3.450M
YoY Change 368.97% -183.88% -73.5%
Cash From Investing Activities $8.790M -$600.0K -$4.757M
YoY Change -1565.0% -81.6% -67.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.459M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.330M -8.970M -397.0K
YoY Change -74.02% -365.38% -116.82%
NET CHANGE
Cash From Operating Activities -3.410M 2.020M 1.783M
Cash From Investing Activities 8.790M -600.0K -4.757M
Cash From Financing Activities -2.330M -8.970M -397.0K
Net Change In Cash 3.050M -7.550M -3.371M
YoY Change -140.4% -272.37% -41.98%
FREE CASH FLOW
Cash From Operating Activities -$3.410M $2.020M $1.783M
Capital Expenditures -$730.0K -$2.630M $455.0K
Free Cash Flow -$2.680M $4.650M $1.328M
YoY Change -157.63% -8.82% -72.65%

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-transform:uppercase;"><div style="display: inline; font-weight: bold;">NOTE <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></div><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div></div><div style="display: inline; font-weight: bold;">: IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">NOT</div> YET ADOPTED</div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2016, </div>the FASB issued ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,</div> &#x201c;Financial Instruments &#x2013; Credit Losses on Financial Instruments,&#x201d; which requires that expected credit losses relating to financial assets to be measured on an amortized cost basis and available-for-sale debt securities be recorded through an allowance for credit losses. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div> limits the amount of credit losses to be recognized for available-for-sale debt securities to the amount by which carrying value exceeds fair value and also requires the reversal of previously recognized credit losses if fair value increases. The new standard will be effective for interim and annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2020, </div>and early adoption is permitted. The Company is currently evaluating whether to early adopt this standard and the potential effect of such adoption on its consolidated financial statements.</div></div>
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EarningsPerShareBasic
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
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us-gaap Income Taxes Paid Net
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
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us-gaap Investment Income Net
InvestmentIncomeNet
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InvestmentIncomeNet
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-transform:uppercase;"><div style="display: inline; font-weight: bold;">NOTE <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1:</div>&nbsp;&nbsp; BUSINESS</div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:25.2pt;">The financial information in this quarterly report includes the results of CEVA, Inc. and its subsidiaries (the &#x201c;Company&#x201d; or &#x201c;CEVA&#x201d;).</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:25.2pt;">CEVA licenses a family of signal processing IPs in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> types of categories: wireless connectivity and smart sensing products. These products include comprehensive DSP-based platforms for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5G</div> baseband processing in mobile and infrastructure, advanced imaging and computer vision for any camera-enabled device and audio/voice/speech and ultra-low power always-on/sensing applications for multiple IoT markets. For sensor fusion, following the acquisition of Hillcrest Laboratories, Inc. (&#x201c;Hillcrest Labs&#x201d;) as discussed in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,</div> CEVA&#x2019;s Hillcrest Labs sensor processing technologies provide a broad range of sensor fusion software and IMU solutions for AR/VR, robotics, remote controls, and IoT. For artificial intelligence, CEVA offers a family of AI processors capable of handling the complete gamut of neural network workload and on-devices. For wireless IoT, CEVA offers the industry&#x2019;s most widely adopted IPs for Bluetooth (low energy and dual mode), Wi-Fi <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4/5/6</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">802.11n/ac/ax</div>) and NB-IoT.</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:25.2pt;">CEVA&#x2019;s technologies are licensed to leading semiconductor and original equipment manufacturer (OEM) companies. These companies design, manufacture, market and sell application-specific integrated circuits (&#x201c;ASICs&#x201d;) and application-specific standard products (&#x201c;ASSPs&#x201d;) based on CEVA&#x2019;s technology to wireless, consumer electronics and automotive companies for incorporation into a wide variety of end products.</div></div>
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us-gaap Net Cash Provided By Used In Financing Activities
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
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187000
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-196000
CY2019Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
114000
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-177000
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OtherComprehensiveIncomeLossTax
212000
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-134000
CY2019Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
103000
CY2018Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-47000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
318000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-280000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
112000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-256000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
1224000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-879000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
585000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-199000
CY2019Q2 us-gaap Other Long Term Investments
OtherLongTermInvestments
936000
CY2018Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
936000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4861000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10434000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
5028000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
13834000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1690000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1351000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2250000
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7432000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5264000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1163000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1062000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3508000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
9392000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3794000
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
3351000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7416000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7344000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24720000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23859000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12390000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11843000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
58751000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
62853000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
35369000
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
18400000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
35063000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
17494000
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6920000
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
5167000
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1500000
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
550000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5977000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6575000
CY2019Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2956000
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3399000
us-gaap Share Based Compensation
ShareBasedCompensation
5095000
us-gaap Share Based Compensation
ShareBasedCompensation
5616000
CY2019Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
160864
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
245879000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
244645000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
245312000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
244670000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
244366000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
252815000
CY2019Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
22.57
CY2018Q2 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
33.28
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
25.01
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
33.55
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
1702032
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1807300
CY2019Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
103013
CY2018Q2 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
269734
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
194316
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
311056
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
39132000
CY2019Q2 us-gaap Treasury Stock Value
TreasuryStockValue
37498000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:25.2pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of Estimates&nbsp;</div></div></div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:25.2pt;">The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company&#x2019;s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the dates of the interim condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21927
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22139
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21936
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22129
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21927
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22139
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21936
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22129

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