2014 Q2 Form 10-Q Financial Statement

#000110465914034092 Filed on May 02, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $151.0M $149.6M $151.5M
YoY Change -0.19% -1.24% 75.28%
Cost Of Revenue $55.90M $55.30M $55.10M
YoY Change 0.0% 0.36% 77.17%
Gross Profit $95.10M $94.30M $96.50M
YoY Change -0.31% -2.28% 74.19%
Gross Profit Margin 62.97% 63.01% 63.68%
Selling, General & Admin $32.71M $32.86M $33.31M
YoY Change -2.48% -1.32% 70.55%
% of Gross Profit 34.4% 34.85% 34.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.01M $35.54M $34.84M
YoY Change 3.73% 2.01% 57.39%
% of Gross Profit 37.86% 37.69% 36.1%
Operating Expenses $32.71M $32.86M $92.79M
YoY Change -2.48% -64.58% 54.09%
Operating Profit $25.43M $25.94M $28.33M
YoY Change -5.65% -8.43% 185.64%
Interest Expense -$19.73M -$19.83M -$24.60M
YoY Change -4.68% -19.39% 68.49%
% of Operating Profit -77.59% -76.44% -86.83%
Other Income/Expense, Net -$252.0K -$903.0K -$107.0K
YoY Change -407.32% 743.93% -864.29%
Pretax Income $14.76M $13.54M $12.41M
YoY Change -1.78% 9.16% 328.86%
Income Tax $4.871M $5.122M $5.549M
% Of Pretax Income 33.01% 37.82% 44.72%
Net Earnings $9.807M $8.324M $6.783M
YoY Change 6.67% 22.72% 285.62%
Net Earnings / Revenue 6.49% 5.56% 4.48%
Basic Earnings Per Share
Diluted Earnings Per Share $245.6K $208.0K $170.9K
COMMON SHARES
Basic Shares Outstanding 40.29M shares 40.07M shares 39.88M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.900M $6.800M $8.600M
YoY Change 40.0% -20.93% -91.27%
Cash & Equivalents $4.882M $6.829M $8.624M
Short-Term Investments
Other Short-Term Assets $22.40M $22.20M $22.40M
YoY Change -4.68% -0.89% 56.64%
Inventory
Prepaid Expenses
Receivables $51.08M $52.37M $56.23M
Other Receivables $2.900M $4.700M $6.400M
Total Short-Term Assets $81.30M $86.00M $93.64M
YoY Change -4.87% -8.16% -43.5%
LONG-TERM ASSETS
Property, Plant & Equipment $867.0M $875.5M $902.3M
YoY Change -3.19% -2.97% 176.3%
Goodwill $603.4M $603.4M $605.0M
YoY Change 0.0% -0.25% 16.22%
Intangibles
YoY Change
Long-Term Investments $112.9M $112.6M $58.70M
YoY Change 0.98% 91.82% -40.47%
Other Assets $20.70M $17.90M $13.00M
YoY Change 29.38% 37.69% 49.43%
Total Long-Term Assets $1.639B $1.647B $1.678B
YoY Change -1.95% -1.86% 64.7%
TOTAL ASSETS
Total Short-Term Assets $81.30M $86.00M $93.64M
Total Long-Term Assets $1.639B $1.647B $1.678B
Total Assets $1.721B $1.733B $1.772B
YoY Change -2.09% -2.2% 49.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.644M $7.775M $2.272M
YoY Change 26.4% 242.21% -83.69%
Accrued Expenses $36.19M $31.01M $40.74M
YoY Change 7.21% -23.9% 55.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.800M $9.800M $9.600M
YoY Change 0.0% 2.08% 9.09%
Total Short-Term Liabilities $114.7M $120.8M $130.6M
YoY Change 1.22% -7.48% 35.98%
LONG-TERM LIABILITIES
Long-Term Debt $1.208B $1.205B $1.206B
YoY Change -0.56% -0.1% 38.79%
Other Long-Term Liabilities $77.00M $81.10M $164.0M
YoY Change -52.67% -50.55% 69.07%
Total Long-Term Liabilities $1.285B $1.286B $1.370B
YoY Change -6.72% -6.14% 57.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $114.7M $120.8M $130.6M
Total Long-Term Liabilities $1.285B $1.286B $1.370B
Total Liabilities $1.579B $1.587B $1.641B
YoY Change -3.18% -3.31% 43.36%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $137.5M $142.3M $169.6M
YoY Change 34183.04% -16.09% 139.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $136.9M $141.6M $126.6M
YoY Change
Total Liabilities & Shareholders Equity $1.721B $1.733B $1.772B
YoY Change -2.09% -2.2% 49.56%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $9.807M $8.324M $6.783M
YoY Change 6.67% 22.72% 285.62%
Depreciation, Depletion And Amortization $36.01M $35.54M $34.84M
YoY Change 3.73% 2.01% 57.39%
Cash From Operating Activities $38.60M $48.39M $36.19M
YoY Change 37.86% 33.71% 67.56%
INVESTING ACTIVITIES
Capital Expenditures -$25.00M $25.41M $27.51M
YoY Change -0.4% -7.64% 173.88%
Acquisitions
YoY Change
Other Investing Activities $100.0K $1.200M $84.00K
YoY Change 1328.57% -191.3%
Cash From Investing Activities -$25.00M -$24.16M -$27.58M
YoY Change -0.79% -12.39% 178.59%
FINANCING ACTIVITIES
Cash Dividend Paid $15.50M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $17.28M $15.31M
YoY Change 12.83% 595.91%
Cash From Financing Activities -15.50M -$22.95M -$17.84M
YoY Change 93.75% 28.64% -5.6%
NET CHANGE
Cash From Operating Activities 38.60M $48.39M $36.19M
Cash From Investing Activities -25.00M -$24.16M -$27.58M
Cash From Financing Activities -15.50M -$22.95M -$17.84M
Net Change In Cash -1.900M $1.278M -$9.230M
YoY Change -63.46% -113.85% 28.19%
FREE CASH FLOW
Cash From Operating Activities $38.60M $48.39M $36.19M
Capital Expenditures -$25.00M $25.41M $27.51M
Free Cash Flow $63.60M $22.99M $8.686M
YoY Change 19.77% 164.67% -24.84%

Facts In Submission

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5 item
CY2013Q4 cnsl Loss Contingency Reversal Of Previously Recognized Revenues
LossContingencyReversalOfPreviouslyRecognizedRevenues
3000000 USD
CY2013Q1 us-gaap Revenues
Revenues
151528000 USD
CY2014Q1 us-gaap Revenues
Revenues
149648000 USD
CY2013Q1 cnsl Cost Of Revenue Excluding Depreciation And Amortization
CostOfRevenueExcludingDepreciationAndAmortization
55052000 USD
CY2014Q1 cnsl Cost Of Revenue Excluding Depreciation And Amortization
CostOfRevenueExcludingDepreciationAndAmortization
55300000 USD
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
33305000 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
32864000 USD
CY2013Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
21000 USD
CY2013Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
34841000 USD
CY2014Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
35542000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
28330000 USD
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24164000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
13000000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
25942000 USD
CY2013Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-24600000 USD
CY2014Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-19831000 USD
CY2013Q1 cnsl Nonoperating Investment Income
NonoperatingInvestmentIncome
8784000 USD
CY2014Q1 cnsl Nonoperating Investment Income
NonoperatingInvestmentIncome
8336000 USD
CY2013Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-107000 USD
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-903000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12407000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
13544000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5549000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5122000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
6882000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
8422000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
6783000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
8324000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9515000 USD
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8596000 USD
CY2013Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.39
CY2014Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
141933000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
37723000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
48394000 USD
CY2013Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-1531000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
48394000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
36192000 USD
CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27506000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25405000 USD
CY2013Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
84000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-24164000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-27569000 USD
CY2013Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-11000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-27580000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10000000 USD
CY2013Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
85000 USD
CY2014Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
157000 USD
CY2013Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15310000 USD
CY2014Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
17275000 USD
CY2013Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15447000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
15520000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17842000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22952000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-9230000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1278000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17854000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8624000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
474000 USD
CY2013Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-32000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-2290000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
9614000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
99000 USD
CY2014Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
8694000 USD
CY2013Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
148433000 USD
CY2014Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2014Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40287654 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40065246 shares
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
Consolidated Communications Holdings, Inc.
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001304421
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
40287654 shares
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 us-gaap Deferred Compensation Arrangement With Individual Employer Contribution
DeferredCompensationArrangementWithIndividualEmployerContribution
100000 USD
CY2014Q1 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
1700000 USD
CY2013Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
1800000 USD
CY2014Q1 cnsl Number Of Life Insurance Policies
NumberOfLifeInsurancePolicies
34 item
CY2014Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
7000000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
1241000 USD
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
24000 USD
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.00
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
CY2013Q1 cnsl Effective Income Tax Rate Continuing Operations Exclusive Of Nondeductible Compensation Adjustment
EffectiveIncomeTaxRateContinuingOperationsExclusiveOfNondeductibleCompensationAdjustment
0.370 pure
CY2014Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.378 pure
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
80816000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Income Loss From Continuing Operations Before Extraordinary Items
EquityMethodInvestmentSummarizedFinancialInformationIncomeLossFromContinuingOperationsBeforeExtraordinaryItems
25562000 USD
CY2014Q1 cnsl Equity Method Investment Summarized Financial Information Income Loss Pre Tax
EquityMethodInvestmentSummarizedFinancialInformationIncomeLossPreTax
25585000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
25585000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Current Assets
EquityMethodInvestmentSummarizedFinancialInformationCurrentAssets
52843000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Assets
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentAssets
88635000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
EquityMethodInvestmentSummarizedFinancialInformationCurrentLiabilities
14584000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Liabilities
EquityMethodInvestmentSummarizedFinancialInformationNoncurrentLiabilities
2166000 USD
CY2014Q1 us-gaap Equity Method Investment Summarized Financial Information Equity
EquityMethodInvestmentSummarizedFinancialInformationEquity
124731000 USD

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