2023 Q2 Form 10-Q Financial Statement

#000128481223000159 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $120.6M $126.1M
YoY Change -18.18% -18.23%
Cost Of Revenue $13.33M $14.22M
YoY Change -26.91% -58.13%
Gross Profit $107.3M $111.9M
YoY Change -16.95% -6.96%
Gross Profit Margin 88.95% 88.72%
Selling, General & Admin $65.62M $65.98M
YoY Change -2.2% -3.33%
% of Gross Profit 61.16% 58.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $839.0K $988.0K
YoY Change -24.14% -0.6%
% of Gross Profit 0.78% 0.88%
Operating Expenses $66.46M $66.97M
YoY Change -23.11% -35.11%
Operating Profit $40.84M $44.90M
YoY Change -33.04% -11.95%
Interest Expense $3.784M $2.908M
YoY Change -114.18% -34.86%
% of Operating Profit 9.27% 6.48%
Other Income/Expense, Net -$1.134M -$1.276M
YoY Change -95.46% -124.97%
Pretax Income $43.49M $46.53M
YoY Change 20.84% -17.06%
Income Tax $10.99M $10.23M
% Of Pretax Income 25.26% 21.99%
Net Earnings $31.78M $35.31M
YoY Change -38.84% -15.96%
Net Earnings / Revenue 26.34% 28.01%
Basic Earnings Per Share $0.64 $0.72
Diluted Earnings Per Share $0.64 $0.71
COMMON SHARES
Basic Shares Outstanding 49.12M shares 49.10M shares
Diluted Shares Outstanding 49.46M shares 49.40M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $178.5M $149.5M
YoY Change 41.01% 76.28%
Cash & Equivalents $178.5M $149.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $63.22M $76.56M
Other Receivables $0.00 $0.00
Total Short-Term Assets $241.7M $226.1M
YoY Change 19.48% 29.75%
LONG-TERM ASSETS
Property, Plant & Equipment $36.33M $12.36M
YoY Change 333.51% 43.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.00K $20.00K
YoY Change 0.0% 81.82%
Other Assets
YoY Change
Total Long-Term Assets $383.3M $397.3M
YoY Change 2.19% -2.85%
TOTAL ASSETS
Total Short-Term Assets $241.7M $226.1M
Total Long-Term Assets $383.3M $397.3M
Total Assets $625.0M $623.4M
YoY Change 8.25% 6.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.257M $1.223M
YoY Change -79.12% -97.33%
Accrued Expenses $147.1M $154.3M
YoY Change 132.29% 232.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $157.1M $176.4M
YoY Change 81.04% 36.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.00M $17.40M
YoY Change 57.64% 26.06%
Total Long-Term Liabilities $24.00M $17.40M
YoY Change 57.64% 26.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $157.1M $176.4M
Total Long-Term Liabilities $24.00M $17.40M
Total Liabilities $181.1M $193.8M
YoY Change 77.55% 35.35%
SHAREHOLDERS EQUITY
Retained Earnings -$162.2M -$165.1M
YoY Change -16.01% -24.1%
Common Stock $558.0K $558.0K
YoY Change 1.45% 1.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $270.8M $270.6M
YoY Change 8.7% 8.71%
Treasury Stock Shares 6.614M shares
Shareholders Equity $353.2M $337.0M
YoY Change
Total Liabilities & Shareholders Equity $625.0M $623.4M
YoY Change 8.25% 6.89%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $31.78M $35.31M
YoY Change -38.84% -15.96%
Depreciation, Depletion And Amortization $839.0K $988.0K
YoY Change -24.14% -0.6%
Cash From Operating Activities $53.68M -$14.97M
YoY Change -6.93% -85.94%
INVESTING ACTIVITIES
Capital Expenditures $15.55M $4.586M
YoY Change -1864.47% 573.42%
Acquisitions
YoY Change
Other Investing Activities $19.33M -$30.42M
YoY Change -256.54% 2.46%
Cash From Investing Activities $3.785M -$35.01M
YoY Change -128.61% 15.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.58M -$46.52M
YoY Change -6972.13% -220.37%
NET CHANGE
Cash From Operating Activities 53.68M -$14.97M
Cash From Investing Activities 3.785M -$35.01M
Cash From Financing Activities -30.58M -$46.52M
Net Change In Cash 26.89M -$96.49M
YoY Change -40.12% -1.71%
FREE CASH FLOW
Cash From Operating Activities $53.68M -$14.97M
Capital Expenditures $15.55M $4.586M
Free Cash Flow $38.14M -$19.55M
YoY Change -34.88% -81.75%

Facts In Submission

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ProceedsFromSaleMaturityAndCollectionsOfInvestments
6787000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4586000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
681000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35007000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30372000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
387000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
375000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20441000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25585000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
28101000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26832000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
603000 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2023Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
2239000 usd
CY2022Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
90690000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-46519000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
38648000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-96492000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-98173000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1409000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1383000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
248714000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
184373000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153631000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84817000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
149518000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
84817000 usd
CY2023Q1 cns Cash Held In Consolidated Investment Vehicles Operating Activities
CashHeldInConsolidatedInvestmentVehiclesOperatingActivities
4113000 usd
CY2022Q1 cns Cash Held In Consolidated Investment Vehicles Operating Activities
CashHeldInConsolidatedInvestmentVehiclesOperatingActivities
0 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153631000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84817000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3300000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1300000 usd
CY2023Q1 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
800000 usd
CY2022Q1 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
700000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounting Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—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.</span>
CY2023Q1 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
164255000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
157646000 usd
CY2023Q1 us-gaap Trading Securities Debt
TradingSecuritiesDebt
47077000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
126082000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
154189000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
126082000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
154189000 usd
CY2022Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
15289000 usd
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
20000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
20000 usd
CY2023Q1 us-gaap Investments
Investments
211352000 usd
CY2022Q4 us-gaap Investments
Investments
172955000 usd
CY2023Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-2330000 usd
CY2022Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
8181000 usd
CY2023Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
2022000 usd
CY2022Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-4614000 usd
CY2023Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
-308000 usd
CY2022Q1 us-gaap Gain Loss On Investments
GainLossOnInvestments
3567000 usd
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-221000 usd
CY2022Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
5041000 usd
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.86
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2023Q1 us-gaap Profit Loss
ProfitLoss
36298000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
46841000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
984000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4823000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
35314000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
42018000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49199000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48673000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
203000 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
664000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49402000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49337000 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
66000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000 shares
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.031
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.035
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.030
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.052
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.002
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.046
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.115
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.225
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.181

Files In Submission

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cns-20230331_pre.xml Edgar Link unprocessable
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0001284812-23-000159.txt Edgar Link pending
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cns-20230331.htm Edgar Link pending
cns-20230331.xsd Edgar Link pending
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cns10q-33123ex311.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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cns-20230331_lab.xml Edgar Link unprocessable
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cns-20230331_def.xml Edgar Link unprocessable
cns-20230331_htm.xml Edgar Link completed
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cns-20230331_cal.xml Edgar Link unprocessable