2018 Q3 Form 10-Q Financial Statement

#000128481218000171 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $98.33M $96.79M
YoY Change 1.6% 2.54%
Cost Of Revenue $13.20M $13.00M
YoY Change 1.54% 17.12%
Gross Profit $85.10M $83.80M
YoY Change 1.55% 0.6%
Gross Profit Margin 86.54% 86.58%
Selling, General & Admin $44.80M $41.70M
YoY Change 7.43% -5.44%
% of Gross Profit 52.64% 49.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.138M $1.111M
YoY Change 2.43% -44.45%
% of Gross Profit 1.34% 1.33%
Operating Expenses $59.11M $55.81M
YoY Change 5.9% -2.38%
Operating Profit $39.22M $40.97M
YoY Change -4.27% 10.1%
Interest Expense $3.200M $2.300M
YoY Change 39.13% 109.09%
% of Operating Profit 8.16% 5.61%
Other Income/Expense, Net $1.047M $2.327M
YoY Change -55.01% 71.61%
Pretax Income $40.27M $43.30M
YoY Change -7.0% 12.27%
Income Tax $10.54M $17.56M
% Of Pretax Income 26.17% 40.56%
Net Earnings $30.79M $25.08M
YoY Change 22.76% 5.05%
Net Earnings / Revenue 31.31% 25.91%
Basic Earnings Per Share $0.66 $0.54
Diluted Earnings Per Share $0.65 $0.53
COMMON SHARES
Basic Shares Outstanding 46.83M shares 46.39M shares
Diluted Shares Outstanding 47.52M shares 47.05M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $164.5M $198.9M
YoY Change -17.3% 21.95%
Cash & Equivalents $164.5M $198.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $60.10M $62.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $224.6M $261.2M
YoY Change -14.01% 15.99%
LONG-TERM ASSETS
Property, Plant & Equipment $14.20M $15.32M
YoY Change -7.32% 8.98%
Goodwill $18.86M
YoY Change 2.95%
Intangibles $1.368M
YoY Change -6.11%
Long-Term Investments $28.00K $5.986M
YoY Change -99.53% -72.0%
Other Assets $6.700M $6.700M
YoY Change 0.0% 67.5%
Total Long-Term Assets $263.6M $162.8M
YoY Change 61.91% 53.16%
TOTAL ASSETS
Total Short-Term Assets $224.6M $261.2M
Total Long-Term Assets $263.6M $162.8M
Total Assets $488.2M $424.0M
YoY Change 15.14% 27.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.800M $3.700M
YoY Change 2.7% 516.67%
Accrued Expenses $31.70M $30.40M
YoY Change 4.28% 14.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $63.00M $54.40M
YoY Change 15.81% 25.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.20M $15.00M
YoY Change 8.0% 0.0%
Total Long-Term Liabilities $16.20M $15.00M
YoY Change 8.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.00M $54.40M
Total Long-Term Liabilities $16.20M $15.00M
Total Liabilities $79.12M $69.33M
YoY Change 14.11% 18.75%
SHAREHOLDERS EQUITY
Retained Earnings -$96.54M -$96.93M
YoY Change -0.39% -17.92%
Common Stock $518.0K $511.0K
YoY Change 1.37% 1.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $164.4M $153.8M
YoY Change 6.89% 6.32%
Treasury Stock Shares 5.050M shares 4.790M shares
Shareholders Equity $324.2M $308.6M
YoY Change
Total Liabilities & Shareholders Equity $488.2M $424.0M
YoY Change 15.14% 27.91%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $30.79M $25.08M
YoY Change 22.76% 5.05%
Depreciation, Depletion And Amortization $1.138M $1.111M
YoY Change 2.43% -44.45%
Cash From Operating Activities $33.20M $32.20M
YoY Change 3.11% 6.98%
INVESTING ACTIVITIES
Capital Expenditures -$700.0K -$800.0K
YoY Change -12.5% -63.64%
Acquisitions
YoY Change
Other Investing Activities -$47.10M $1.900M
YoY Change -2578.95% -71.64%
Cash From Investing Activities -$47.80M $1.100M
YoY Change -4445.45% -76.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.50M -13.00M
YoY Change 11.54% 9.24%
NET CHANGE
Cash From Operating Activities 33.20M 32.20M
Cash From Investing Activities -47.80M 1.100M
Cash From Financing Activities -14.50M -13.00M
Net Change In Cash -29.10M 20.30M
YoY Change -243.35% -11.35%
FREE CASH FLOW
Cash From Operating Activities $33.20M $32.20M
Capital Expenditures -$700.0K -$800.0K
Free Cash Flow $33.90M $33.00M
YoY Change 2.73% 2.17%

Facts In Submission

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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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398000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
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CY2018Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Nonoperating Income Expense
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us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
49000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
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PaymentsOfDividendsCommonStock
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PaymentsOfDividendsCommonStock
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us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
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PaymentsToAcquireAvailableForSaleSecurities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2504000 USD
us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Payments To Minority Shareholders
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us-gaap Proceeds From Payments To Minority Shareholders
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us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
24172000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
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CY2017Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
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us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
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CY2017Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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PropertyPlantAndEquipmentNet
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CY2017Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
6429000 USD
CY2018Q3 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
6250000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
47795000 USD
CY2018Q3 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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RetainedEarningsAccumulatedDeficit
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CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
279242000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Share Based Compensation
ShareBasedCompensation
16346000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
468000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
476000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
275536000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
324241000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
19892000 USD
CY2018Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
18953000 USD
CY2017Q3 us-gaap Trading Gains Losses
TradingGainsLosses
595000 USD
us-gaap Trading Gains Losses
TradingGainsLosses
870000 USD
CY2017Q4 us-gaap Trading Securities
TradingSecurities
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CY2018Q3 us-gaap Trading Securities
TradingSecurities
59627000 USD
CY2018Q3 us-gaap Trading Securities Debt
TradingSecuritiesDebt
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CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
153818000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
661000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
523000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
694000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
549000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47047000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46858000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47524000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47327000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46335000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46830000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46778000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Accounting Estimates</font><font style="font-family:inherit;font-size:10pt;">&#8212;The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Management believes the estimates used in preparing the condensed consolidated financial statements are reasonable and prudent. Actual results could differ from those estimates.</font></div></div>

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