$COMM
CommScope Holding Company, Inc.

2016 Q1 Form 10-Q Financial Statement

#000119312516559898 Filed on April 28, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $1.144B $825.4M
YoY Change 38.6% -11.73%
Cost Of Revenue $696.9M $532.2M
YoY Change 30.95% -10.9%
Gross Profit $447.1M $293.2M
YoY Change 52.48% -13.18%
Gross Profit Margin 39.08% 35.52%
Selling, General & Admin $209.2M $125.7M
YoY Change 66.46% 11.19%
% of Gross Profit 46.79% 42.86%
Research & Development $52.19M $27.74M
YoY Change 88.17% -12.97%
% of Gross Profit 11.67% 9.46%
Depreciation & Amortization $19.60M $11.60M
YoY Change 68.97% -0.85%
% of Gross Profit 4.38% 3.96%
Operating Expenses $261.4M $153.4M
YoY Change 70.39% 5.87%
Operating Profit $90.72M $93.14M
YoY Change -2.6% -36.44%
Interest Expense $72.56M $36.33M
YoY Change 99.74% -14.08%
% of Operating Profit 79.98% 39.0%
Other Income/Expense, Net $301.0K $2.627M
YoY Change -88.54% -182.22%
Pretax Income $21.04M $60.47M
YoY Change -65.2% -40.81%
Income Tax $8.461M $20.99M
% Of Pretax Income 40.21% 34.71%
Net Earnings $12.58M $39.48M
YoY Change -68.13% -38.78%
Net Earnings / Revenue 1.1% 4.78%
Basic Earnings Per Share $0.07 $0.21
Diluted Earnings Per Share $0.06 $0.20
COMMON SHARES
Basic Shares Outstanding 191.6M 188.5M shares
Diluted Shares Outstanding 195.5M 193.1M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $688.0M $735.0M
YoY Change -6.39% 140.98%
Cash & Equivalents $688.4M $735.1M
Short-Term Investments
Other Short-Term Assets $150.0M $110.0M
YoY Change 36.36% -5.17%
Inventory $464.5M $353.1M
Prepaid Expenses
Receivables $924.2M $689.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.227B $1.888B
YoY Change 17.96% 22.04%
LONG-TERM ASSETS
Property, Plant & Equipment $519.9M $282.2M
YoY Change 84.21% -6.96%
Goodwill $2.719B $1.450B
YoY Change 87.56% 0.28%
Intangibles $1.215B
YoY Change -11.84%
Long-Term Investments $41.00M
YoY Change 1540.0%
Other Assets $129.3M $123.6M
YoY Change 4.64% 23.59%
Total Long-Term Assets $5.446B $3.070B
YoY Change 77.36% -4.85%
TOTAL ASSETS
Total Short-Term Assets $2.227B $1.888B
Total Long-Term Assets $5.446B $3.070B
Total Assets $7.673B $4.958B
YoY Change 54.74% 3.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $388.0M $234.0M
YoY Change 65.79% -21.09%
Accrued Expenses $397.7M $236.4M
YoY Change 68.22% -13.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $13.00M $9.000M
YoY Change 44.44% 0.0%
Total Short-Term Liabilities $798.2M $479.4M
YoY Change 66.5% -17.04%
LONG-TERM LIABILITIES
Long-Term Debt $5.232B $2.697B
YoY Change 93.96% 7.73%
Other Long-Term Liabilities $123.5M $101.1M
YoY Change 22.16% -1.26%
Total Long-Term Liabilities $5.355B $2.798B
YoY Change 91.37% 7.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $798.2M $479.4M
Total Long-Term Liabilities $5.355B $2.798B
Total Liabilities $6.384B $3.619B
YoY Change 76.41% 0.1%
SHAREHOLDERS EQUITY
Retained Earnings -$799.8M -$702.0M
YoY Change 13.93% -23.17%
Common Stock $2.229B $1.904M
YoY Change 116978.26% 1.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.05M $10.64M
YoY Change 32.15% 0.0%
Treasury Stock Shares 1.094M shares 961.6K shares
Shareholders Equity $1.288B $1.339B
YoY Change
Total Liabilities & Shareholders Equity $7.673B $4.958B
YoY Change 54.74% 3.86%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $12.58M $39.48M
YoY Change -68.13% -38.78%
Depreciation, Depletion And Amortization $19.60M $11.60M
YoY Change 68.97% -0.85%
Cash From Operating Activities $119.5M $1.200M
YoY Change 9858.33% -103.38%
INVESTING ACTIVITIES
Capital Expenditures $14.47M $8.213M
YoY Change 76.21% 23.04%
Acquisitions
YoY Change
Other Investing Activities -$474.0K -$2.633M
YoY Change -82.0% 5623.91%
Cash From Investing Activities $5.000M -$5.500M
YoY Change -190.91% 1.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.146M $2.199M
YoY Change 43.07% -87.48%
Cash From Financing Activities -4.400M 20.20M
YoY Change -121.78% 2144.44%
NET CHANGE
Cash From Operating Activities 119.5M 1.200M
Cash From Investing Activities 5.000M -5.500M
Cash From Financing Activities -4.400M 20.20M
Net Change In Cash 120.1M 15.90M
YoY Change 655.35% -139.75%
FREE CASH FLOW
Cash From Operating Activities $119.5M $1.200M
Capital Expenditures $14.47M $8.213M
Free Cash Flow $105.0M -$7.013M
YoY Change -1597.62% -83.37%

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CY2016Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2200000 shares
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001517228
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2016Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
CommScope Holding Company, Inc.
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195456000 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3814000 shares
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2721000
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14472000
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
46284000
CY2016Q1 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
These product warranties extend over periods ranging from [one to twenty-five] years from the date of sale, depending upon the product subject to the warranty.
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
191642000 shares
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 dei Trading Symbol
TradingSymbol
COMM
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
21041000
CY2016Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-474000
CY2016Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
2579000
CY2016Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15087000
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
-731000
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.402 pure
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2016Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P10Y
CY2016Q1 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1381000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
12580000
CY2016Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2051000
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
44830000
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1143979000
CY2016Q1 us-gaap Interest Paid
InterestPaid
16057000
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6378000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
90723000
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
9863000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
301000
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
58760000
CY2016Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-723000
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3146000
CY2016Q1 us-gaap Payments For Proceeds From Previous Acquisition
PaymentsForProceedsFromPreviousAcquisition
-15355000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
57410000
CY2016Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1751000
CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8461000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8835000
CY2016Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
12400000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
125484000
CY2016Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
96938000
CY2016Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2016Q1 us-gaap Interest Expense
InterestExpense
72562000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
5041000
CY2016Q1 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
31600000
CY2016Q1 us-gaap Costs And Expenses
CostsAndExpenses
1053256000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2996000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
52190000
CY2016Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-10440000
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3684000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
73019000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8835000
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1490000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
5347000
CY2016Q1 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1381000
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
209197000
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
73616000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1600000
CY2016Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
15293000
CY2016Q1 us-gaap Depreciation
Depreciation
19600000
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
696888000
CY2016Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
15300000
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2326000
CY2016Q1 comm Restructuring Charges Net
RestructuringChargesNet
6072000

Files In Submission

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0001193125-16-559898-index-headers.html Edgar Link pending
0001193125-16-559898-index.html Edgar Link pending
0001193125-16-559898.txt Edgar Link pending
0001193125-16-559898-xbrl.zip Edgar Link pending
comm-20160331.xml Edgar Link completed
comm-20160331.xsd Edgar Link pending
comm-20160331_cal.xml Edgar Link unprocessable
comm-20160331_def.xml Edgar Link unprocessable
comm-20160331_lab.xml Edgar Link unprocessable
comm-20160331_pre.xml Edgar Link unprocessable
d164203d10q.htm Edgar Link pending
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