2015 Q3 Form 10-Q Financial Statement

#000159678315000039 Filed on November 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $423.0M $418.3M
YoY Change 1.12% 0.97%
Cost Of Revenue $301.5M $293.0M
YoY Change 2.9% -0.71%
Gross Profit $121.5M $125.3M
YoY Change -3.03% 5.12%
Gross Profit Margin 28.72% 29.95%
Selling, General & Admin $82.30M $81.40M
YoY Change 1.11% 0.37%
% of Gross Profit 67.74% 64.96%
Research & Development $1.600M $2.800M
YoY Change -42.86% -17.65%
% of Gross Profit 1.32% 2.23%
Depreciation & Amortization $35.50M $35.00M
YoY Change 1.43% -4.11%
% of Gross Profit 29.22% 27.93%
Operating Expenses $82.30M $81.40M
YoY Change 1.11% 0.37%
Operating Profit $37.00M $42.50M
YoY Change -12.94% 21.08%
Interest Expense -$22.70M -$32.40M
YoY Change -29.94% -20.78%
% of Operating Profit -61.35% -76.24%
Other Income/Expense, Net -$600.0K -$41.30M
YoY Change -98.55% -4230.0%
Pretax Income $13.70M -$34.30M
YoY Change -139.94% 614.58%
Income Tax $2.000M -$14.00M
% Of Pretax Income 14.6%
Net Earnings $11.90M -$19.50M
YoY Change -161.03% -1400.0%
Net Earnings / Revenue 2.81% -4.66%
Basic Earnings Per Share $0.10 -$0.18
Diluted Earnings Per Share $0.09 -$0.18
COMMON SHARES
Basic Shares Outstanding 124.8M shares 105.5M shares
Diluted Shares Outstanding 126.2M shares 105.5M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $151.4M $63.20M
YoY Change 139.56% -34.03%
Cash & Equivalents $115.5M $63.20M
Short-Term Investments
Other Short-Term Assets $27.20M $32.20M
YoY Change -15.53% -60.1%
Inventory $150.9M $142.4M
Prepaid Expenses $27.50M $25.20M
Receivables $308.2M $332.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $691.2M $619.1M
YoY Change 11.65% 0.39%
LONG-TERM ASSETS
Property, Plant & Equipment $884.3M $853.3M
YoY Change 3.63% 3.14%
Goodwill $1.038B $1.058B
YoY Change -1.87%
Intangibles $348.1M $360.9M
YoY Change -3.55%
Long-Term Investments
YoY Change
Other Assets $27.20M $35.70M
YoY Change -23.81% -79.36%
Total Long-Term Assets $2.365B $2.332B
YoY Change 1.41% -3.82%
TOTAL ASSETS
Total Short-Term Assets $691.2M $619.1M
Total Long-Term Assets $2.365B $2.332B
Total Assets $3.056B $2.951B
YoY Change 3.56% -2.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $127.4M $116.7M
YoY Change 9.17% -6.49%
Accrued Expenses $118.4M $141.0M
YoY Change -16.03% -0.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $24.00M $36.40M
YoY Change -34.07% 21.33%
Total Short-Term Liabilities $352.9M $377.6M
YoY Change -6.54% 8.35%
LONG-TERM LIABILITIES
Long-Term Debt $1.860B $1.780B
YoY Change 4.47% -33.41%
Other Long-Term Liabilities $41.10M $40.40M
YoY Change 1.73% -78.13%
Total Long-Term Liabilities $41.10M $40.40M
YoY Change 1.73% -98.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $352.9M $377.6M
Total Long-Term Liabilities $41.10M $40.40M
Total Liabilities $394.0M $418.0M
YoY Change -5.74% -87.81%
SHAREHOLDERS EQUITY
Retained Earnings -$1.158B -$1.399B
YoY Change -17.22%
Common Stock $1.972B $1.980B
YoY Change -0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $597.2M $503.8M
YoY Change
Total Liabilities & Shareholders Equity $3.056B $2.951B
YoY Change 3.56% -2.97%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $11.90M -$19.50M
YoY Change -161.03% -1400.0%
Depreciation, Depletion And Amortization $35.50M $35.00M
YoY Change 1.43% -4.11%
Cash From Operating Activities $44.90M -$39.80M
YoY Change -212.81% -257.94%
INVESTING ACTIVITIES
Capital Expenditures $33.20M -$31.20M
YoY Change -206.41% 65.96%
Acquisitions $0.00 $13.50M
YoY Change -100.0% 68.75%
Other Investing Activities $0.00 -$13.50M
YoY Change -100.0% 82.43%
Cash From Investing Activities -$33.20M -$44.70M
YoY Change -25.73% 70.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.600M $0.00
YoY Change
Debt Paid & Issued, Net $4.700M $863.8M
YoY Change -99.46% 12792.54%
Cash From Financing Activities -$10.30M $86.90M
YoY Change -111.85% -795.2%
NET CHANGE
Cash From Operating Activities $44.90M -$39.80M
Cash From Investing Activities -$33.20M -$44.70M
Cash From Financing Activities -$10.30M $86.90M
Net Change In Cash $1.400M $2.400M
YoY Change -41.67% -117.78%
FREE CASH FLOW
Cash From Operating Activities $44.90M -$39.80M
Capital Expenditures $33.20M -$31.20M
Free Cash Flow $11.70M -$8.600M
YoY Change -236.05% -119.55%

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OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
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OtherComprehensiveIncomeLossNetOfTax
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5600000 USD
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PaymentsToAcquireBusinessesNetOfCashAcquired
13500000 USD
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0 USD
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31200000 USD
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33200000 USD
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0.01
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100000000 shares
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0 shares
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PreferredStockSharesIssued
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PreferredStockSharesOutstanding
0 shares
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PreferredStockSharesOutstanding
0 shares
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PreferredStockValueOutstanding
0 USD
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PreferredStockValueOutstanding
0 USD
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PrepaidExpenseAndOtherAssetsCurrent
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PrepaidExpenseAndOtherAssetsCurrent
80700000 USD
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22000000 USD
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CY2014Q3 us-gaap Share Price
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20.50
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11700000 USD
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5800000 USD
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CY2014Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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CY2015Q3 us-gaap Translation Adjustment For Net Investment Hedge Net Of Tax Period Increase Decrease
TranslationAdjustmentForNetInvestmentHedgeNetOfTaxPeriodIncreaseDecrease
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CY2014Q3 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
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CY2015Q3 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
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UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
1900000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
600000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
6300000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
7100000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
48700000 USD
CY2015Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
47900000 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1437223 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105535385 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124753234 shares
CY2015Q3 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Such estimates include, but are not limited to, allowance for doubtful accounts, inventory and long-lived asset valuation, goodwill and other intangible asset valuation and impairment, equity-based compensation, income taxes, derivative financial instruments and pension plan asset and liability valuation. Actual amounts may differ from these estimated amounts.</font></div></div>

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