2015 Q3 Form 10-Q Financial Statement

#000126297615000021 Filed on October 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $375.7M $333.9M
YoY Change 12.52% 21.39%
Cost Of Revenue $157.2M $130.2M
YoY Change 20.69% 35.94%
Gross Profit $218.6M $203.7M
YoY Change 7.3% 13.62%
Gross Profit Margin 58.17% 61.0%
Selling, General & Admin $155.3M $142.9M
YoY Change 8.64% 11.12%
% of Gross Profit 71.05% 70.17%
Research & Development $51.10M $43.90M
YoY Change 16.4% 4.03%
% of Gross Profit 23.38% 21.55%
Depreciation & Amortization $30.26M $24.46M
YoY Change 23.71% 56.79%
% of Gross Profit 13.84% 12.01%
Operating Expenses $155.3M $142.9M
YoY Change 8.64% 11.12%
Operating Profit $12.09M $16.86M
YoY Change -28.32% 100.49%
Interest Expense -$700.0K $8.800M
YoY Change -107.95% -650.0%
% of Operating Profit -5.79% 52.2%
Other Income/Expense, Net $9.242M $12.14M
YoY Change -23.84% -351.45%
Pretax Income $13.20M $25.65M
YoY Change -48.53% 1178.61%
Income Tax $3.179M $2.232M
% Of Pretax Income 24.08% 8.7%
Net Earnings $10.77M $23.69M
YoY Change -54.54% 5650.97%
Net Earnings / Revenue 2.87% 7.1%
Basic Earnings Per Share $0.33 $0.73
Diluted Earnings Per Share $0.32 $0.71
COMMON SHARES
Basic Shares Outstanding 32.53M shares 32.39M shares
Diluted Shares Outstanding 33.76M shares 33.15M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $99.60M $70.30M
YoY Change 41.68% 8.66%
Cash & Equivalents $93.82M $60.92M
Short-Term Investments $5.700M $9.400M
Other Short-Term Assets $59.30M $34.80M
YoY Change 70.4% 43.21%
Inventory $19.84M $13.00M
Prepaid Expenses
Receivables $38.70M $26.11M
Other Receivables $0.00 $0.00
Total Short-Term Assets $217.4M $144.3M
YoY Change 50.69% 18.42%
LONG-TERM ASSETS
Property, Plant & Equipment $495.1M $357.3M
YoY Change 38.57% 21.21%
Goodwill $408.8M $11.75M
YoY Change 3377.68% -91.75%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $24.62M $31.27M
YoY Change -21.26% 5.12%
Total Long-Term Assets $1.126B $839.9M
YoY Change 34.1% 62.49%
TOTAL ASSETS
Total Short-Term Assets $217.4M $144.3M
Total Long-Term Assets $1.126B $839.9M
Total Assets $1.344B $984.1M
YoY Change 36.53% 54.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $65.77M $57.57M
YoY Change 14.25% 145.96%
Accrued Expenses $179.2M $118.0M
YoY Change 51.86% 37.8%
Deferred Revenue
YoY Change
Short-Term Debt $18.00M $14.38M
YoY Change 25.15%
Long-Term Debt Due $38.10M $14.40M
YoY Change 164.58% 92.0%
Total Short-Term Liabilities $311.9M $218.9M
YoY Change 42.48% 51.73%
LONG-TERM LIABILITIES
Long-Term Debt $637.3M $433.5M
YoY Change 47.02% 65.14%
Other Long-Term Liabilities $62.02M $45.56M
YoY Change 36.12% 204.17%
Total Long-Term Liabilities $699.3M $479.0M
YoY Change 45.98% 72.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $311.9M $218.9M
Total Long-Term Liabilities $699.3M $479.0M
Total Liabilities $1.168B $757.9M
YoY Change 54.18% 75.43%
SHAREHOLDERS EQUITY
Retained Earnings $442.8M $366.5M
YoY Change 20.81% 22.36%
Common Stock $615.0K $615.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $547.4M $419.0M
YoY Change 30.67% 7.46%
Treasury Stock Shares 12.69M shares 11.63M shares
Shareholders Equity $109.7M $211.8M
YoY Change
Total Liabilities & Shareholders Equity $1.344B $984.1M
YoY Change 36.53% 54.09%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $10.77M $23.69M
YoY Change -54.54% 5650.97%
Depreciation, Depletion And Amortization $30.26M $24.46M
YoY Change 23.71% 56.79%
Cash From Operating Activities $27.43M $52.62M
YoY Change -47.88% -42880.49%
INVESTING ACTIVITIES
Capital Expenditures $24.39M $16.68M
YoY Change 46.21% -5.08%
Acquisitions $22.82M $25.91M
YoY Change -11.93%
Other Investing Activities $0.00 -$25.90M
YoY Change -100.0%
Cash From Investing Activities -$50.40M -$46.22M
YoY Change 9.06% 137.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $127.5M -$845.0K
YoY Change -15190.06% -124.17%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $14.30M -$4.620M
YoY Change -409.57% -113.92%
NET CHANGE
Cash From Operating Activities $27.43M $52.62M
Cash From Investing Activities -$50.40M -$46.22M
Cash From Financing Activities $14.30M -$4.620M
Net Change In Cash -$8.672M $1.785M
YoY Change -585.83% -86.91%
FREE CASH FLOW
Cash From Operating Activities $27.43M $52.62M
Capital Expenditures $24.39M $16.68M
Free Cash Flow $3.033M $35.94M
YoY Change -91.56% -303.03%

Facts In Submission

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TreasuryStockShares
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TreasuryStockValue
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TreasuryStockValueAcquiredCostMethod
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WeightedAverageNumberOfDilutedSharesOutstanding
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UnrealizedGainLossOnDerivatives
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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UnrecognizedTaxBenefits
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CY2015Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
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CY2015Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
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CY2015Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:14px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;padding-top:14px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We believe our most significant estimates are associated with the ongoing evaluation of the recoverability of our long-lived assets and goodwill, estimated useful lives of assets, share-based compensation, accounting for business combinations, and income taxes and related valuation allowances, among others. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results could differ from those estimates.</font></div></div>

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