2018 Q4 Form 10-Q Financial Statement

#000162828018013806 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $394.1M $361.5M $357.1M
YoY Change 10.35% 11.2% 4.14%
Cost Of Revenue $309.9M $269.5M $265.1M
YoY Change 16.9% 10.37% 4.45%
Gross Profit $102.3M $91.99M $91.97M
YoY Change 11.22% 13.7% 3.22%
Gross Profit Margin 25.96% 25.45% 25.76%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.030M $1.710M $5.520M
YoY Change 9.24% 1.91% 14.05%
% of Gross Profit 5.89% 1.86% 6.0%
Operating Expenses $66.50M $81.73M $76.60M
YoY Change -13.19% 16.07% 14.84%
Operating Profit $17.80M $10.27M $15.35M
YoY Change 15.98% -2.15% -31.48%
Interest Expense -$5.700M $4.676M -$5.300M
YoY Change 7.55% -16.4% -17.19%
% of Operating Profit -32.02% 45.54% -34.53%
Other Income/Expense, Net
YoY Change
Pretax Income $11.95M $5.592M $10.05M
YoY Change 18.99% 14.33% -37.99%
Income Tax $3.100M $1.435M $4.100M
% Of Pretax Income 25.93% 25.66% 40.81%
Net Earnings $8.882M $4.157M $9.483M
YoY Change -6.34% 45.81% 4.21%
Net Earnings / Revenue 2.25% 1.15% 2.66%
Basic Earnings Per Share $0.30 $0.14 $0.36
Diluted Earnings Per Share $0.30 $0.14 $0.35
COMMON SHARES
Basic Shares Outstanding 29.97M shares 29.08M shares 26.56M shares
Diluted Shares Outstanding 29.74M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.40M $49.90M $41.50M
YoY Change 2.17% 1117.07% 26.14%
Cash & Equivalents $42.41M $49.86M $41.50M
Short-Term Investments
Other Short-Term Assets $12.00M $11.50M $11.10M
YoY Change 8.11% -0.86% -31.06%
Inventory $112.6M $110.1M $102.1M
Prepaid Expenses
Receivables $161.8M $146.8M $142.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $328.7M $318.2M $296.8M
YoY Change 10.74% 21.97% 12.23%
LONG-TERM ASSETS
Property, Plant & Equipment $85.28M $64.55M $68.38M
YoY Change 24.71% -6.5% 9.96%
Goodwill $184.3M $182.0M $173.2M
YoY Change 6.4% 5.23% 5.75%
Intangibles $130.0M $132.8M $140.3M
YoY Change -7.33% -7.5% 7.01%
Long-Term Investments
YoY Change
Other Assets $4.074M $4.093M $2.975M
YoY Change 36.94% 35.35% -50.6%
Total Long-Term Assets $403.7M $397.1M $390.9M
YoY Change 3.26% 0.87% 5.92%
TOTAL ASSETS
Total Short-Term Assets $328.7M $318.2M $296.8M
Total Long-Term Assets $403.7M $397.1M $390.9M
Total Assets $732.4M $715.3M $687.7M
YoY Change 6.49% 9.28% 8.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.80M $83.11M $70.02M
YoY Change 25.39% 0.05% 6.88%
Accrued Expenses $24.81M $22.30M $21.87M
YoY Change 13.44% 32.18% 24.65%
Deferred Revenue $1.496M $853.0K $1.283M
YoY Change 16.6%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $61.00K $30.00K $3.827M
YoY Change -98.41% -99.29% -74.13%
Total Short-Term Liabilities $125.5M $117.4M $108.3M
YoY Change 15.95% 1.78% 0.84%
LONG-TERM LIABILITIES
Long-Term Debt $278.2M $280.2M $314.0M
YoY Change -11.41% -11.08% -1.17%
Other Long-Term Liabilities $10.41M $11.77M $10.87M
YoY Change -4.19% 11.8% 40.72%
Total Long-Term Liabilities $288.6M $292.0M $324.9M
YoY Change -11.17% -10.34% -0.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $125.5M $117.4M $108.3M
Total Long-Term Liabilities $288.6M $292.0M $324.9M
Total Liabilities $423.7M $417.2M $439.1M
YoY Change -3.51% -7.31% -0.14%
SHAREHOLDERS EQUITY
Retained Earnings $103.3M $94.39M $82.87M
YoY Change 24.62% 28.62% 20.97%
Common Stock $207.6M $206.6M $167.3M
YoY Change 24.12% 55.73% 31.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $308.7M $298.1M $248.6M
YoY Change
Total Liabilities & Shareholders Equity $732.4M $715.3M $687.7M
YoY Change 6.49% 9.28% 8.56%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $8.882M $4.157M $9.483M
YoY Change -6.34% 45.81% 4.21%
Depreciation, Depletion And Amortization $6.030M $1.710M $5.520M
YoY Change 9.24% 1.91% 14.05%
Cash From Operating Activities $11.57M $14.59M $8.300M
YoY Change 39.4% 859.87% -53.11%
INVESTING ACTIVITIES
Capital Expenditures -$10.41M -$3.860M -$2.450M
YoY Change 324.9% 10.6% -51.87%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $0.00 -$380.0K
YoY Change 426.32% -100.0% -169.09%
Cash From Investing Activities -$12.41M -$3.870M -$2.830M
YoY Change 338.52% -88.35% -37.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $34.02M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.610M -480.0K 32.03M
YoY Change -120.64% -64.18% -599.69%
NET CHANGE
Cash From Operating Activities 11.57M 14.59M 8.300M
Cash From Investing Activities -12.41M -3.870M -2.830M
Cash From Financing Activities -6.610M -480.0K 32.03M
Net Change In Cash -7.450M 10.24M 37.50M
YoY Change -119.87% -131.0% 456.38%
FREE CASH FLOW
Cash From Operating Activities $11.57M $14.59M $8.300M
Capital Expenditures -$10.41M -$3.860M -$2.450M
Free Cash Flow $21.98M $18.45M $10.75M
YoY Change 104.47% 268.26% -52.83%

Facts In Submission

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us-gaap Interest Expense
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CY2017Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
134000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2018Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
26000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
358000 USD
us-gaap Interest Paid Net
InterestPaidNet
14664000 USD
us-gaap Interest Paid Net
InterestPaidNet
13928000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
102083000 USD
CY2018Q3 us-gaap Inventory Net
InventoryNet
110073000 USD
CY2017Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1934000 USD
CY2018Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1911000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
439148000 USD
CY2018Q3 us-gaap Liabilities
Liabilities
417158000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
687749000 USD
CY2018Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
715303000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2018Q3 us-gaap Liabilities Current
LiabilitiesCurrent
117372000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
317822000 USD
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
51742 shares
CY2018Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
30000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
313995000 USD
CY2018Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-12596000 USD
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
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
23203000 USD
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
280246000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3827000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
33506000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
6819000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-1642000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
3674000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
2851000 USD
us-gaap Net Income Loss
NetIncomeLoss
4883000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
544000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
4157000 USD
us-gaap Net Income Loss
NetIncomeLoss
11520000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2985000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4883000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4183000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
11878000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
4500000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
767000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
70411000 USD
us-gaap Operating Expenses
OperatingExpenses
211627000 USD
CY2018Q3 us-gaap Operating Expenses
OperatingExpenses
81725000 USD
us-gaap Operating Expenses
OperatingExpenses
233799000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10494000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
25778000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10268000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
30956000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
1574000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
1657000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2975000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4093000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
235000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
369000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
605000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-922000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-281000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-96000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1299000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10865000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
11770000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
877000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
455000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
691000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
29722000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11899000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
9860000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
9407000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11083000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11530000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
47100000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-500000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
30000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
103017000 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
104421000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
68378000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
64552000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2841000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2811000 USD
CY2017Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
134000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
400000 USD
CY2018Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
134000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
400000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
11641000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
49359000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
82869000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
94389000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
325076000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
944422000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
361496000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1050553000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2384000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2999000 USD
us-gaap Stock Issued1
StockIssued1
3300000 USD
us-gaap Stock Issued1
StockIssued1
0 USD
CY2017Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
3300000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
37015000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
743000 USD
CY2017Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
869000 USD
CY2017Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
770000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
837000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1072000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1090000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
193760000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
192623000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
197322000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
204476000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
248601000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
248588000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
256099000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
298145000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
57858 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
313229 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
221411 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27387619 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26063655 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29743851 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29619703 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26092387 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26011913 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29080929 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28458972 shares
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s quarterly periods end on the thirteenth Friday of each quarter. Every six to seven years the Company will add a fourteenth week to its fourth quarter to more closely align its year end to the calendar year. </font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from management&#8217;s estimates.</font></div></div>

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