2019 Q1 Form 10-Q Financial Statement

#000128481219000120 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $94.23M $94.46M
YoY Change -0.25% 5.26%
Cost Of Revenue $12.50M $12.80M
YoY Change -2.34% -3.03%
Gross Profit $81.70M $81.60M
YoY Change 0.12% 6.53%
Gross Profit Margin 86.71% 86.38%
Selling, General & Admin $45.20M $43.30M
YoY Change 4.39% 8.52%
% of Gross Profit 55.32% 53.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.100M $1.100M
YoY Change 0.0% 0.0%
% of Gross Profit 1.35% 1.35%
Operating Expenses $58.79M $57.25M
YoY Change 2.7% 5.59%
Operating Profit $35.44M $37.22M
YoY Change -4.79% 4.76%
Interest Expense $15.40M -$2.700M
YoY Change -670.37% -640.0%
% of Operating Profit 43.46% -7.25%
Other Income/Expense, Net $14.91M -$199.0K
YoY Change -7592.46% -187.67%
Pretax Income $50.35M $37.02M
YoY Change 35.99% 3.54%
Income Tax $10.37M $8.096M
% Of Pretax Income 20.59% 21.87%
Net Earnings $32.54M $27.59M
YoY Change 17.97% 20.02%
Net Earnings / Revenue 34.54% 29.2%
Basic Earnings Per Share $0.69 $0.59
Diluted Earnings Per Share $0.68 $0.59
COMMON SHARES
Basic Shares Outstanding 47.15M shares 46.68M shares
Diluted Shares Outstanding 47.64M shares 47.15M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.40M $168.6M
YoY Change -66.55% 7.59%
Cash & Equivalents $56.39M $168.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $60.00M $63.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $116.4M $231.6M
YoY Change -49.74% 7.52%
LONG-TERM ASSETS
Property, Plant & Equipment $14.01M $14.94M
YoY Change -6.21% -3.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $23.00K $86.24M
YoY Change -99.97% 1297.65%
Other Assets $7.100M $1.800M
YoY Change 294.44%
Total Long-Term Assets $289.4M $197.3M
YoY Change 46.65% 89.5%
TOTAL ASSETS
Total Short-Term Assets $116.4M $231.6M
Total Long-Term Assets $289.4M $197.3M
Total Assets $405.8M $428.9M
YoY Change -5.39% 34.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000M $7.100M
YoY Change -85.92%
Accrued Expenses $62.90M $10.20M
YoY Change 516.67% 7.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $98.10M $47.10M
YoY Change 108.28% 47.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.100M $16.40M
YoY Change -50.61% 23.31%
Total Long-Term Liabilities $8.100M $16.40M
YoY Change -50.61% 23.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.10M $47.10M
Total Long-Term Liabilities $8.100M $16.40M
Total Liabilities $106.3M $63.49M
YoY Change 67.41% 40.46%
SHAREHOLDERS EQUITY
Retained Earnings -$193.5M -$125.3M
YoY Change 54.46% 5.59%
Common Stock $525.0K $518.0K
YoY Change 1.35% 1.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $174.8M $164.3M
YoY Change 6.36% 6.9%
Treasury Stock Shares 5.329M shares 5.049M shares
Shareholders Equity $235.2M $283.8M
YoY Change
Total Liabilities & Shareholders Equity $405.8M $428.9M
YoY Change -5.39% 34.24%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $32.54M $27.59M
YoY Change 17.97% 20.02%
Depreciation, Depletion And Amortization $1.100M $1.100M
YoY Change 0.0% 0.0%
Cash From Operating Activities -$29.50M -$29.07M
YoY Change 1.48% 1504.42%
INVESTING ACTIVITIES
Capital Expenditures $989.0K $906.0K
YoY Change 9.16% 39.6%
Acquisitions
YoY Change
Other Investing Activities $9.700M -$1.800M
YoY Change -638.89% -35.71%
Cash From Investing Activities $8.739M -$2.743M
YoY Change -418.59% -20.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.08M $10.29M
YoY Change -2.01% 16.61%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$16.16M $6.740M
YoY Change -339.79% -131.15%
NET CHANGE
Cash From Operating Activities -$29.50M -$29.07M
Cash From Investing Activities $8.739M -$2.743M
Cash From Financing Activities -$16.16M $6.740M
Net Change In Cash -$36.93M -$25.08M
YoY Change 47.26% -6.77%
FREE CASH FLOW
Cash From Operating Activities -$29.50M -$29.07M
Capital Expenditures $989.0K $906.0K
Free Cash Flow -$30.49M -$29.98M
YoY Change 1.71% 1118.12%

Facts In Submission

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CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
398000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
538000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
398000 USD
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
13935000 USD
CY2019Q1 us-gaap Other Liabilities
OtherLiabilities
8147000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2502000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-495000 USD
CY2018Q4 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
5121000 USD
CY2019Q1 us-gaap Payables To Broker Dealers And Clearing Organizations
PayablesToBrokerDealersAndClearingOrganizations
1040000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10505000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10353000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
1952000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
2985000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15445000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
17015000 USD
CY2018Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
3856000 USD
CY2019Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
24696000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
906000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
989000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
219000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
274000 USD
CY2018Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
34423000 USD
CY2019Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
13917000 USD
CY2018Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
1993000 USD
CY2019Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
34420000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
26000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
4000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
28924000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
39977000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14106000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14011000 USD
CY2018Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
14240000 USD
CY2019Q1 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
4597000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
114192000 USD
CY2019Q1 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
64354000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-208404000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-193523000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
94464000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
94226000 USD
CY2018Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
614 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2018Q4 us-gaap Security Owned And Pledged As Collateral Fair Value
SecurityOwnedAndPledgedAsCollateralFairValue
1807000 USD
CY2019Q1 us-gaap Security Owned And Pledged As Collateral Fair Value
SecurityOwnedAndPledgedAsCollateralFairValue
536000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5888000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6668000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
222646000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
235161000 USD
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
18663000 USD
CY2019Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
27343000 USD
CY2018Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
108363000 USD
CY2019Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
29158000 USD
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5050285 shares
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
5328768 shares
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
164417000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
174770000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
469000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
496000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47152000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47642000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46683000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47146000 shares
CY2019Q1 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-align:left;text-indent:30px;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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