2021 Q2 Form 10-Q Financial Statement

#000077240621000030 Filed on July 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $277.3M $242.6M
YoY Change 14.3% 1.81%
Cost Of Revenue $137.3M $115.1M
YoY Change 19.29% -0.57%
Gross Profit $139.9M $127.5M
YoY Change 9.79% 4.06%
Gross Profit Margin 50.48% 52.55%
Selling, General & Admin $35.15M $29.70M
YoY Change 18.32% 0.62%
% of Gross Profit 25.11% 23.3%
Research & Development $85.70M $78.74M
YoY Change 8.83% -11.36%
% of Gross Profit 61.24% 61.77%
Depreciation & Amortization $11.90M $11.75M
YoY Change 1.3% -40.52%
% of Gross Profit 8.5% 9.21%
Operating Expenses $120.8M $108.8M
YoY Change 11.07% -8.07%
Operating Profit $19.10M $18.68M
YoY Change 2.29% 350.65%
Interest Expense $761.0K $1.600M
YoY Change -52.44% -1700.0%
% of Operating Profit 3.98% 8.57%
Other Income/Expense, Net -$242.0K $111.0K
YoY Change -318.02% -129.37%
Pretax Income $19.62M $20.36M
YoY Change -3.63% 236.51%
Income Tax $2.400M $2.200M
% Of Pretax Income 12.23% 10.8%
Net Earnings $17.21M $18.21M
YoY Change -5.49% 294.3%
Net Earnings / Revenue 6.21% 7.51%
Basic Earnings Per Share $0.30 $0.31
Diluted Earnings Per Share $0.29 $0.30
COMMON SHARES
Basic Shares Outstanding 57.58M shares 58.31M shares
Diluted Shares Outstanding 59.51M shares 60.28M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.6M $315.9M
YoY Change 41.08% 26.13%
Cash & Equivalents $385.1M $285.9M
Short-Term Investments $60.50M $29.94M
Other Short-Term Assets $27.39M $12.84M
YoY Change 113.28% -54.65%
Inventory $192.7M $199.3M
Prepaid Expenses $37.06M $25.39M
Receivables $136.5M $136.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $839.3M $690.0M
YoY Change 21.65% 22.32%
LONG-TERM ASSETS
Property, Plant & Equipment $158.5M $154.3M
YoY Change 2.7% -15.25%
Goodwill $287.5M $287.4M
YoY Change 0.04% 0.36%
Intangibles
YoY Change
Long-Term Investments $311.6M $290.2M
YoY Change 7.39% 41.49%
Other Assets $47.69M $44.55M
YoY Change 7.05% 204.64%
Total Long-Term Assets $974.7M $954.1M
YoY Change 2.16% 5.3%
TOTAL ASSETS
Total Short-Term Assets $839.3M $690.0M
Total Long-Term Assets $974.7M $954.1M
Total Assets $1.814B $1.644B
YoY Change 10.34% 11.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $95.23M $95.52M
YoY Change -0.3% 58.13%
Accrued Expenses $68.18M $53.90M
YoY Change 26.49% -0.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $186.5M $163.0M
YoY Change 14.39% 24.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $220.8M $208.7M
YoY Change 5.79%
Total Long-Term Liabilities $220.8M $208.7M
YoY Change 5.78% -5.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.5M $163.0M
Total Long-Term Liabilities $220.8M $208.7M
Total Liabilities $407.3M $371.8M
YoY Change 9.56% 5.35%
SHAREHOLDERS EQUITY
Retained Earnings -$109.8M -$184.0M
YoY Change -40.37% -28.91%
Common Stock $1.515B $1.451B
YoY Change 4.36% 5.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.407B $1.272B
YoY Change
Total Liabilities & Shareholders Equity $1.814B $1.644B
YoY Change 10.34% 11.83%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $17.21M $18.21M
YoY Change -5.49% 294.3%
Depreciation, Depletion And Amortization $11.90M $11.75M
YoY Change 1.3% -40.52%
Cash From Operating Activities -$26.80M $502.0K
YoY Change -5437.85% -99.12%
INVESTING ACTIVITIES
Capital Expenditures $10.84M $2.054M
YoY Change 427.51% -46.17%
Acquisitions
YoY Change
Other Investing Activities -$4.811M -$7.100M
YoY Change -32.24% -73.31%
Cash From Investing Activities -$16.71M -$9.183M
YoY Change 82.01% -73.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.50M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$13.53M $2.484M
YoY Change -644.57% -106.15%
NET CHANGE
Cash From Operating Activities -$26.80M $502.0K
Cash From Investing Activities -$16.71M -$9.183M
Cash From Financing Activities -$13.53M $2.484M
Net Change In Cash -$57.04M -$6.197M
YoY Change 820.4% -65.75%
FREE CASH FLOW
Cash From Operating Activities -$26.80M $502.0K
Capital Expenditures $10.84M $2.054M
Free Cash Flow -$37.63M -$1.552M
YoY Change 2324.68% -102.92%

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CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
18209000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
7496000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1014000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2485000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13306000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1272289000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1389005000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
17209000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-887000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-52000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1028000 USD
CY2021Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
12501000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14985000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1406731000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
370005000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2465000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
324000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
372146000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
300000 USD
CY2021Q2 crus Available For Sale Securities Amortized Cost On Gross Unrealized Losses
AvailableForSaleSecuritiesAmortizedCostOnGrossUnrealizedLosses
125600000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
365192000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3579000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
315000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
368456000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
300000 USD
CY2021Q1 crus Available For Sale Securities Amortized Cost On Gross Unrealized Losses
AvailableForSaleSecuritiesAmortizedCostOnGrossUnrealizedLosses
92000000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
54895000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
55698000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
59717000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
60503000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
310288000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
311643000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
310297000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
312758000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
370005000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
372146000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
365192000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
368456000 USD
CY2021Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q2 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
372146000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
368456000 USD
CY2021Q2 us-gaap Number Of Foreign Currency Derivatives Held
NumberOfForeignCurrencyDerivativesHeld
1 derivtive
CY2021Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
12100000 USD
CY2021Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
136534000 USD
CY2021Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
108712000 USD
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 USD
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
136534000 USD
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
108712000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
83453000 USD
CY2021Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
92073000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
109269000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
81190000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
192722000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
173263000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
277253000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
242573000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
277253000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
242573000 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
19622000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
20362000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2413000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2153000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.123
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.106
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2400000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2200000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.123
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.106
CY2021Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
32900000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
32900000 USD
CY2021Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
4400000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
17209000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
18209000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57582000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58313000 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1931000 shares
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1967000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59513000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60280000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
114000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
240000 shares
CY2021Q2 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
100000 shares
CY2020Q2 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
100000 shares
CY2021Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
200000 shares
CY2021Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
12500000 USD
CY2021Q2 crus Averagecostpersharerepurchased
Averagecostpersharerepurchased
75.19
CY2021Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q2 crus Number Of Product Lines
NumberOfProductLines
2 product_line

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