2012 Q2 Form 10-K Financial Statement

#000110465913065850 Filed on August 23, 2013

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2012
Revenue $643.7M $539.9M $2.029B
YoY Change 33.11% 16.31% 21.11%
Cost Of Revenue $523.1M $434.8M $1.638B
YoY Change 28.65% 11.17% 14.84%
Gross Profit $120.6M $105.1M $391.0M
YoY Change 56.62% 43.78% 57.03%
Gross Profit Margin 18.74% 19.47% 19.27%
Selling, General & Admin $54.10M $41.50M $169.2M
YoY Change 36.62% 9.5% 13.18%
% of Gross Profit 44.86% 39.49% 43.27%
Research & Development $20.50M
YoY Change 8.47%
% of Gross Profit 5.24%
Depreciation & Amortization $25.30M $21.30M $83.80M
YoY Change 36.76% 18.99% 26.02%
% of Gross Profit 20.98% 20.27% 21.43%
Operating Expenses $54.10M $41.50M $189.7M
YoY Change 36.62% 9.5% 12.65%
Operating Profit $66.50M $55.70M $210.1M
YoY Change 90.0% 58.24% 117.95%
Interest Expense -$5.400M -$4.300M $23.80M
YoY Change 145.45% 4.88% 39.18%
% of Operating Profit -8.12% -7.72% 11.33%
Other Income/Expense, Net $900.0K $1.700M $2.300M
YoY Change 12.5% 112.5% -72.94%
Pretax Income $62.00M $51.80M $188.6M
YoY Change 84.52% 62.38% 114.81%
Income Tax $21.00M $18.80M $67.00M
% Of Pretax Income 33.87% 36.29% 35.52%
Net Earnings $40.80M $33.00M $121.2M
YoY Change 60.0% 15.38% 70.7%
Net Earnings / Revenue 6.34% 6.11% 5.97%
Basic Earnings Per Share $0.77 $0.69 $2.55
Diluted Earnings Per Share $0.77 $0.69 $2.53
COMMON SHARES
Basic Shares Outstanding 52.60M shares 47.20M shares 47.10M shares
Diluted Shares Outstanding 53.30M shares 47.90M shares 47.50M shares

Balance Sheet

Concept 2012 Q2 2012 Q1 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $211.0M $175.1M $211.0M
YoY Change -59.66% -17.44% -59.66%
Cash & Equivalents $211.0M $175.1M $211.0M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $31.90M $70.30M $42.50M
YoY Change 0.63% -3.83% -8.8%
Inventory $642.0M $677.5M $642.0M
Prepaid Expenses
Receivables $354.2M $330.3M $354.2M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.250B $1.253B $1.250B
YoY Change 7.96% 40.15% 7.96%
LONG-TERM ASSETS
Property, Plant & Equipment $924.6M $884.8M $924.6M
YoY Change 39.48% 39.38% 39.48%
Goodwill $260.5M
YoY Change 480.18%
Intangibles $109.9M
YoY Change 266.33%
Long-Term Investments
YoY Change
Other Assets $83.10M $83.60M $83.10M
YoY Change -13.89% -19.23% -13.89%
Total Long-Term Assets $1.378B $1.343B $1.378B
YoY Change 65.18% 65.37% 65.18%
TOTAL ASSETS
Total Short-Term Assets $1.250B $1.253B $1.250B
Total Long-Term Assets $1.378B $1.343B $1.378B
Total Assets $2.628B $2.596B $2.628B
YoY Change 31.92% 52.15% 31.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $236.1M $222.5M $236.1M
YoY Change 38.48% 51.57% 38.48%
Accrued Expenses $217.1M $184.5M $190.6M
YoY Change 73.82% 71.47% 62.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $101.0M $0.00 $101.0M
YoY Change 1.0% -100.0% 1.0%
Total Short-Term Liabilities $554.2M $431.3M $554.2M
YoY Change 40.16% 19.21% 40.16%
LONG-TERM LIABILITIES
Long-Term Debt $305.9M $407.2M $305.9M
YoY Change -24.99% 156.91% -24.99%
Other Long-Term Liabilities $66.10M $410.4M $623.2M
YoY Change -1.64% -21.77% 71.02%
Total Long-Term Liabilities $372.0M $817.6M $929.1M
YoY Change -21.68% 19.69% 20.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $554.2M $431.3M $554.2M
Total Long-Term Liabilities $372.0M $817.6M $929.1M
Total Liabilities $1.515B $1.382B $1.524B
YoY Change 24.57% 31.03% 24.29%
SHAREHOLDERS EQUITY
Retained Earnings $1.110B
YoY Change 8.56%
Common Stock $526.7M
YoY Change 3.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $120.0M
YoY Change -77.45%
Treasury Stock Shares 2.397M shares
Shareholders Equity $1.104B $1.215B $1.104B
YoY Change
Total Liabilities & Shareholders Equity $2.628B $2.596B $2.628B
YoY Change 31.92% 52.15% 31.92%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2012
OPERATING ACTIVITIES
Net Income $40.80M $33.00M $121.2M
YoY Change 60.0% 15.38% 70.7%
Depreciation, Depletion And Amortization $25.30M $21.30M $83.80M
YoY Change 36.76% 18.99% 26.02%
Cash From Operating Activities $98.30M $75.70M $146.2M
YoY Change -16.13% 581.98% 127.73%
INVESTING ACTIVITIES
Capital Expenditures -$50.50M -$47.00M -$157.8M
YoY Change 14.77% 162.57% 98.24%
Acquisitions $12.90M
YoY Change -71.59%
Other Investing Activities -$1.100M -$11.10M $17.00M
YoY Change -82.26% -127.96% -29.75%
Cash From Investing Activities -$51.60M -$58.10M -$140.8M
YoY Change 2.79% -366.51% 154.15%
FINANCING ACTIVITIES
Cash Dividend Paid $33.70M
YoY Change 4.98%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $100.0M
YoY Change
Cash From Financing Activities -8.400M -161.1M -283.4M
YoY Change -103.49% 1965.38% -232.49%
NET CHANGE
Cash From Operating Activities 98.30M 75.70M 146.2M
Cash From Investing Activities -51.60M -58.10M -140.8M
Cash From Financing Activities -8.400M -161.1M -283.4M
Net Change In Cash 38.30M -143.5M -278.0M
YoY Change -87.55% -671.71% -224.83%
FREE CASH FLOW
Cash From Operating Activities $98.30M $75.70M $146.2M
Capital Expenditures -$50.50M -$47.00M -$157.8M
Free Cash Flow $148.8M $122.7M $304.0M
YoY Change -7.69% 323.1% 111.4%

Facts In Submission

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DeferredIncomeTaxExpenseBenefit
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CY2013 us-gaap Income Tax Expense Benefit
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CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
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DeferredStateAndLocalIncomeTaxExpenseBenefit
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DeferredForeignIncomeTaxExpenseBenefit
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CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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DeferredFederalIncomeTaxExpenseBenefit
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CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2011 us-gaap Current State And Local Tax Expense Benefit
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87800000 USD
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22900000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
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0.324 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.022 pure
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0.023 pure
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0.018 pure
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0.355 pure
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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0.003 pure
CY2011 us-gaap Effective Income Tax Rate Continuing Operations
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DeferredTaxAssetsOther
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221000000 USD
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43000000 USD
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21100000 USD
CY2013Q2 us-gaap Deferred Tax Liabilities
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41200000 USD
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400000 USD
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300000 USD
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400000 USD
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400000 USD
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P4Y
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CY2013 us-gaap Allocated Share Based Compensation Expense
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CY2012Q2 us-gaap Assets
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45100000 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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45100000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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47900000 shares
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53300000 shares
CY2012Q4 dei Entity Public Float
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2582079427 USD
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2013 dei Entity Voluntary Filers
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No
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1838200000 USD
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433500000 USD
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200800000 USD
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146500000 USD
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400000 USD
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1637700000 USD
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391000000 USD
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169200000 USD
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11700000 USD
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23800000 USD
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121600000 USD
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400000 USD
CY2011 us-gaap Cost Of Goods And Services Sold
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1426100000 USD
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249000000 USD
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149500000 USD
CY2011 us-gaap Business Combination Acquisition Related Costs
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3100000 USD
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17100000 USD
CY2011 us-gaap Profit Loss
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71700000 USD
CY2011 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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2600000 USD
CY2011Q2 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-500000 USD
CY2011Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-233300000 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
544900000 USD
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
533500000 USD
CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1600000 USD
CY2011Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
44107380 shares
CY2013Q1 us-gaap Sales Revenue Net
SalesRevenueNet
581400000 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2011 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
85890 shares
CY2013 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
244493 shares
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
115600 shares
CY2011 crs Entity Wide Revenue Major Customer Number
EntityWideRevenueMajorCustomerNumber
1 item
CY2013Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2010Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
43967084 shares

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