2017 Q2 Form 10-Q Financial Statement

#000002605817000067 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $105.7M $98.69M
YoY Change 7.09% -1.38%
Cost Of Revenue $69.89M $64.24M
YoY Change 8.81% -3.69%
Gross Profit $35.79M $34.46M
YoY Change 3.88% 3.25%
Gross Profit Margin 33.87% 34.91%
Selling, General & Admin $15.81M $15.76M
YoY Change 0.28% 3.55%
% of Gross Profit 44.16% 45.75%
Research & Development $6.049M $5.967M
YoY Change 1.37% 8.75%
% of Gross Profit 16.9% 17.32%
Depreciation & Amortization $5.000M $4.900M
YoY Change 2.04% 22.5%
% of Gross Profit 13.97% 14.22%
Operating Expenses $21.86M $21.73M
YoY Change 0.58% 4.92%
Operating Profit $13.21M $24.10M
YoY Change -45.19% 128.54%
Interest Expense $752.0K $1.009M
YoY Change -25.47% 54.52%
% of Operating Profit 5.69% 4.19%
Other Income/Expense, Net $716.0K -$1.918M
YoY Change -137.33% -705.05%
Pretax Income $13.92M $22.18M
YoY Change -37.22% 104.25%
Income Tax $3.958M $7.692M
% Of Pretax Income 28.43% 34.68%
Net Earnings $9.966M $14.49M
YoY Change -31.21% -24.07%
Net Earnings / Revenue 9.43% 14.68%
Basic Earnings Per Share $0.30 $0.44
Diluted Earnings Per Share $0.30 $0.44
COMMON SHARES
Basic Shares Outstanding 32.89M shares 32.76M shares
Diluted Shares Outstanding 33.35M shares 33.23M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $107.8M $119.9M
YoY Change -10.09% -18.32%
Cash & Equivalents $107.8M $119.9M
Short-Term Investments
Other Short-Term Assets $11.93M $12.46M
YoY Change -4.27% -41.79%
Inventory $36.09M $25.98M
Prepaid Expenses
Receivables $66.74M $62.13M
Other Receivables $0.00 $0.00
Total Short-Term Assets $222.6M $220.5M
YoY Change 0.95% -15.75%
LONG-TERM ASSETS
Property, Plant & Equipment $85.17M $76.97M
YoY Change 10.65% 9.65%
Goodwill $69.58M $61.74M
YoY Change 12.69%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.525M $1.154M
YoY Change 32.15% -98.73%
Total Long-Term Assets $315.8M $299.4M
YoY Change 5.5% 31.53%
TOTAL ASSETS
Total Short-Term Assets $222.6M $220.5M
Total Long-Term Assets $315.8M $299.4M
Total Assets $538.4M $519.8M
YoY Change 3.57% 6.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.66M $41.68M
YoY Change 2.35% -8.8%
Accrued Expenses $42.21M $46.92M
YoY Change -10.02% 74.41%
Deferred Revenue
YoY Change
Short-Term Debt $1.100M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $94.56M $97.10M
YoY Change -2.61% 16.28%
LONG-TERM LIABILITIES
Long-Term Debt $92.80M $110.8M
YoY Change -16.25% 24.92%
Other Long-Term Liabilities $7.634M $2.200M
YoY Change 247.0% -81.03%
Total Long-Term Liabilities $7.634M $2.200M
YoY Change 247.0% -97.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $94.56M $97.10M
Total Long-Term Liabilities $7.634M $2.200M
Total Liabilities $201.9M $217.2M
YoY Change -7.04% 18.24%
SHAREHOLDERS EQUITY
Retained Earnings $426.8M $401.6M
YoY Change 6.28%
Common Stock $343.5M $342.0M
YoY Change 0.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $343.3M $343.3M
YoY Change 0.0%
Treasury Stock Shares 23.69M shares 23.69M shares
Shareholders Equity $336.5M $302.6M
YoY Change
Total Liabilities & Shareholders Equity $538.4M $519.8M
YoY Change 3.57% 6.24%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $9.966M $14.49M
YoY Change -31.21% -24.07%
Depreciation, Depletion And Amortization $5.000M $4.900M
YoY Change 2.04% 22.5%
Cash From Operating Activities $13.50M $11.00M
YoY Change 22.73% -26.67%
INVESTING ACTIVITIES
Capital Expenditures -$5.300M -$4.600M
YoY Change 15.22% 70.37%
Acquisitions
YoY Change
Other Investing Activities -$19.30M $12.00M
YoY Change -260.83%
Cash From Investing Activities -$24.60M $7.400M
YoY Change -432.43% -374.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.500M -29.30M
YoY Change -91.47% 597.62%
NET CHANGE
Cash From Operating Activities 13.50M 11.00M
Cash From Investing Activities -24.60M 7.400M
Cash From Financing Activities -2.500M -29.30M
Net Change In Cash -13.60M -10.90M
YoY Change 24.77% -234.57%
FREE CASH FLOW
Cash From Operating Activities $13.50M $11.00M
Capital Expenditures -$5.300M -$4.600M
Free Cash Flow $18.80M $15.60M
YoY Change 20.51% -11.86%

Facts In Submission

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4737000 USD
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2115000 USD
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us-gaap Increase Decrease In Pension And Postretirement Obligations
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us-gaap Interest Paid
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us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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551000 USD
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us-gaap Net Cash Provided By Used In Financing Activities
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15713000 USD
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-493000 USD
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us-gaap Net Cash Provided By Used In Investing Activities
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-28374000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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16226000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
23271000 USD
CY2016Q2 us-gaap Net Income Loss
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14487000 USD
us-gaap Net Income Loss
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22350000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
9966000 USD
us-gaap Net Income Loss
NetIncomeLoss
18450000 USD
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NonoperatingIncomeExpense
-1918000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2386000 USD
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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NonoperatingIncomeExpense
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OperatingIncomeLoss
24097000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
36530000 USD
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OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
25403000 USD
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7291000 USD
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4694000 USD
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OtherAssetsNoncurrent
1525000 USD
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-67000 USD
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227000 USD
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-152000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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608000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-726000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
200000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
288000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
563000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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1356000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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990000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2654000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-947000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1855000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-942000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1758000 USD
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OtherNonoperatingIncomeExpense
-1240000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1436000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1170000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1775000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1569000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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73063000 USD
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PaymentsToAcquireBusinessesNetOfCashAcquired
19265000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
7483000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
9110000 USD
CY2016Q4 us-gaap Preferred Stock No Par Value
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CY2017Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1482200000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
794300000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
12237000 USD
us-gaap Proceeds From Sale Of Productive Assets
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1000 USD
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
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CY2017Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5274000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
82111000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
85174000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1462100000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
790600000 USD
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5967000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12130000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6049000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12052000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
967000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
1687000 USD
CY2016Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
206000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
206000 USD
CY2017Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
729000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1507000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
195398000 USD
CY2017Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
105686000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
205840000 USD
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us-gaap Selling General And Administrative Expense
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CY2016Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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33225000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33180000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33351000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33339000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32759000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32695000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32890000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32846000 shares
CY2016Q4 us-gaap Short Term Non Bank Loans And Notes Payable
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1006000 USD
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ShortTermNonBankLoansAndNotesPayable
1059000 USD
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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210484 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
170832 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
0 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
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0 shares
us-gaap Stock Repurchased During Period Shares
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0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2016 us-gaap Stock Repurchased During Period Value
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1615000 USD
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us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
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0 USD
us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
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428000 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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466000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
485000 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
461000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
493000 shares

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