2019 Q2 Form 10-Q Financial Statement

#000077240619000026 Filed on July 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $238.3M $254.5M
YoY Change -6.38% -20.66%
Cost Of Revenue $115.8M $129.9M
YoY Change -10.9% -18.3%
Gross Profit $122.5M $124.6M
YoY Change -1.66% -22.98%
Gross Profit Margin 51.41% 48.95%
Selling, General & Admin $29.52M $32.78M
YoY Change -9.96% 6.24%
% of Gross Profit 24.1% 26.32%
Research & Development $88.83M $97.93M
YoY Change -9.29% 17.2%
% of Gross Profit 72.52% 78.62%
Depreciation & Amortization $19.75M $22.64M
YoY Change -12.78% 15.53%
% of Gross Profit 16.12% 18.18%
Operating Expenses $118.4M $130.7M
YoY Change -9.46% 14.25%
Operating Profit $4.144M -$6.157M
YoY Change -167.31% -113.02%
Interest Expense -$100.0K $1.400M
YoY Change -107.14% 133.33%
% of Operating Profit -2.41%
Other Income/Expense, Net -$378.0K $210.0K
YoY Change -280.0% -1205.26%
Pretax Income $6.051M -$4.500M
YoY Change -234.47% -109.4%
Income Tax $1.433M -$200.0K
% Of Pretax Income 23.68%
Net Earnings $4.618M -$4.272M
YoY Change -208.1% -109.96%
Net Earnings / Revenue 1.94% -1.68%
Basic Earnings Per Share $0.08 -$0.07
Diluted Earnings Per Share $0.08 -$0.07
COMMON SHARES
Basic Shares Outstanding 58.54M shares 61.46M shares
Diluted Shares Outstanding 60.26M shares 61.46M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $250.4M $226.3M
YoY Change 10.64% 29.11%
Cash & Equivalents $198.1M $186.5M
Short-Term Investments $52.35M $39.88M
Other Short-Term Assets $28.33M $14.27M
YoY Change 98.52% 31.41%
Inventory $146.3M $205.4M
Prepaid Expenses $27.51M $30.50M
Receivables $111.5M $106.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $564.1M $575.1M
YoY Change -1.92% -0.59%
LONG-TERM ASSETS
Property, Plant & Equipment $182.0M $195.8M
YoY Change -7.03% 14.62%
Goodwill $286.4M $287.0M
YoY Change -0.23% 0.0%
Intangibles
YoY Change
Long-Term Investments $205.1M $159.3M
YoY Change 28.75% 18.09%
Other Assets $14.63M $34.15M
YoY Change -57.18% 67.93%
Total Long-Term Assets $906.0M $791.7M
YoY Change 14.45% 0.45%
TOTAL ASSETS
Total Short-Term Assets $564.1M $575.1M
Total Long-Term Assets $906.0M $791.7M
Total Assets $1.470B $1.367B
YoY Change 7.56% 0.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.41M $53.66M
YoY Change 12.59% -37.61%
Accrued Expenses $54.10M $42.20M
YoY Change 28.2% -8.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $131.2M $118.6M
YoY Change 10.59% -18.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $7.801M
YoY Change -100.0% -85.76%
Total Long-Term Liabilities $221.7M $121.1M
YoY Change 83.09% 101.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.2M $118.6M
Total Long-Term Liabilities $221.7M $121.1M
Total Liabilities $352.9M $239.7M
YoY Change 47.21% 16.39%
SHAREHOLDERS EQUITY
Retained Earnings -$258.9M -$184.7M
YoY Change 40.19% 64.51%
Common Stock $1.376B $1.325B
YoY Change 3.81% 4.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.117B $1.127B
YoY Change
Total Liabilities & Shareholders Equity $1.470B $1.367B
YoY Change 7.56% 0.01%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $4.618M -$4.272M
YoY Change -208.1% -109.96%
Depreciation, Depletion And Amortization $19.75M $22.64M
YoY Change -12.78% 15.53%
Cash From Operating Activities $56.99M $4.689M
YoY Change 1115.33% -222.88%
INVESTING ACTIVITIES
Capital Expenditures $3.816M $10.83M
YoY Change -64.75% 0.73%
Acquisitions
YoY Change
Other Investing Activities -$26.60M -$300.0K
YoY Change 8766.67% -99.35%
Cash From Investing Activities -$34.72M -$12.84M
YoY Change 170.49% -83.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $40.00M $40.00M
YoY Change 0.0% -12.18%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$40.36M -$41.00M
YoY Change -1.56% -61.15%
NET CHANGE
Cash From Operating Activities $56.99M $4.689M
Cash From Investing Activities -$34.72M -$12.84M
Cash From Financing Activities -$40.36M -$41.00M
Net Change In Cash -$18.10M -$49.15M
YoY Change -63.18% -73.75%
FREE CASH FLOW
Cash From Operating Activities $56.99M $4.689M
Capital Expenditures $3.816M $10.83M
Free Cash Flow $53.17M -$6.138M
YoY Change -966.26% -57.86%

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109000 USD
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100000 USD
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1035000 USD
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641000 USD
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229151000 USD
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600000 USD
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123100000 USD
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120300000 USD
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600000 USD
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70490000 USD
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52415000 USD
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52350000 USD
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70183000 USD
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254920000 USD
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1 derivtive
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56850000 USD
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P20Y
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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11163000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
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621000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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14366000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1322000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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13661000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1356000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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12831000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
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535000 USD
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12564000 USD
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264000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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161975000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
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338000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
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226560000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received
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74863000 USD
CY2019Q2 crus Lessor Operating Lease Undiscounted Excess Amount
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0 USD
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CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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238253000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6051000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2019Q2 us-gaap Income Tax Expense Benefit
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1433000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
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-228000 USD
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.237
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.051
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000 USD
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.237
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.051
CY2019Q2 us-gaap Unrecognized Tax Benefits
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40000000.0 USD
CY2019Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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39800000 USD
CY2019Q2 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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300000 USD
CY2019Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
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3000000.0 USD
CY2019Q2 us-gaap Net Income Loss
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4618000 USD
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58540000 shares
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61462000 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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1718000 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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60258000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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61462000 shares
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0.08
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0.08
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-0.07
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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734000 shares
CY2019Q2 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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100000 shares
CY2018Q2 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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100000 shares
CY2019Q2 us-gaap Number Of Reportable Segments
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1 segment
CY2019Q2 crus Number Of Product Lines
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2 product_line
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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238253000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254483000 USD

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