2017 Q2 Form 10-Q Financial Statement

#000137613917000033 Filed on May 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q1
Revenue $1.434B $1.507B $905.5M
YoY Change 11.75% 66.43% -34.8%
Cost Of Revenue $1.405B $1.408B $916.1M
YoY Change 20.74% 53.68% -25.23%
Gross Profit $29.00M $99.10M -$10.60M
YoY Change -75.73% -1034.91% -106.48%
Gross Profit Margin 2.02% 6.58% -1.17%
Selling, General & Admin $25.00M $29.10M $27.20M
YoY Change -6.02% 6.99% 7.51%
% of Gross Profit 86.21% 29.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.00M $51.10M $40.00M
YoY Change 6.51% 27.75% -4.76%
% of Gross Profit 186.21% 51.56%
Operating Expenses $25.00M $29.10M $27.20M
YoY Change -6.02% 6.99% 7.51%
Operating Profit -$7.000M $84.00M -$39.90M
YoY Change -107.72% -310.53% -129.21%
Interest Expense $27.60M $27.00M $12.10M
YoY Change 49.19% 123.14% -4.72%
% of Operating Profit 32.14%
Other Income/Expense, Net -$27.20M -$14.60M -$12.80M
YoY Change 7.51% 14.06% -54.12%
Pretax Income -$26.00M $53.00M -$52.70M
YoY Change -139.76% -200.57% -148.48%
Income Tax -$7.000M $14.80M -$21.80M
% Of Pretax Income 27.92%
Net Earnings -$18.00M $27.00M -$16.20M
YoY Change -163.38% -266.67% -129.51%
Net Earnings / Revenue -1.26% 1.79% -1.79%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$121.0K $255.8K -$0.19
COMMON SHARES
Basic Shares Outstanding 86.83M shares 86.83M shares 86.80M shares
Diluted Shares Outstanding 0.000 shares 0.000 shares 86.80M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $829.9M $803.6M $681.8M
YoY Change 20.17% 17.86% -20.0%
Cash & Equivalents $830.0M $803.6M $681.8M
Short-Term Investments
Other Short-Term Assets $45.80M $37.90M $84.30M
YoY Change -48.01% -55.04% -41.86%
Inventory $318.3M $353.9M $259.4M
Prepaid Expenses
Receivables $141.9M $143.2M $109.7M
Other Receivables $10.10M $9.700M $18.50M
Total Short-Term Assets $1.346B $1.348B $1.154B
YoY Change 5.54% 16.87% -21.13%
LONG-TERM ASSETS
Property, Plant & Equipment $2.621B $2.642B $1.972B
YoY Change -3.76% 33.96% 3.18%
Goodwill $41.00M $41.00M $41.00M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.70M $21.50M $16.20M
YoY Change 26.22% 32.72% -50.76%
Total Long-Term Assets $2.683B $2.705B $2.030B
YoY Change -3.52% 33.26% 1.83%
TOTAL ASSETS
Total Short-Term Assets $1.346B $1.348B $1.154B
Total Long-Term Assets $2.683B $2.705B $2.030B
Total Assets $4.029B $4.053B $3.184B
YoY Change -0.67% 27.32% -7.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $235.3M $238.5M $249.6M
YoY Change -2.73% -4.45% -5.67%
Accrued Expenses $65.80M $53.90M $50.00M
YoY Change 6.47% 7.8% -6.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.000M $1.900M $125.0M
YoY Change -98.48% 8233.33%
Total Short-Term Liabilities $605.1M $560.4M $474.2M
YoY Change 60.5% 18.18% 11.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.164B $1.163B $540.4M
YoY Change -0.16% 115.27% -19.71%
Other Long-Term Liabilities $34.60M $33.30M $27.60M
YoY Change 9.49% 20.65% -46.41%
Total Long-Term Liabilities $1.784B $1.788B $1.192B
YoY Change -4.41% 50.0% -11.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $605.1M $560.4M $474.2M
Total Long-Term Liabilities $1.784B $1.788B $1.192B
Total Liabilities $2.389B $2.349B $1.667B
YoY Change 6.5% 40.94% -5.95%
SHAREHOLDERS EQUITY
Retained Earnings -$413.2M -$359.3M -$248.8M
YoY Change 56.63% 44.41% 43.4%
Common Stock $1.199B $1.199B $1.176B
YoY Change 0.0% 1.95% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.300M $2.300M $2.300M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 98.61K shares 98.61K shares 98.61K shares
Shareholders Equity $783.0M $836.9M $924.5M
YoY Change
Total Liabilities & Shareholders Equity $4.029B $4.053B $3.184B
YoY Change -0.67% 27.32% -7.89%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$18.00M $27.00M -$16.20M
YoY Change -163.38% -266.67% -129.51%
Depreciation, Depletion And Amortization $54.00M $51.10M $40.00M
YoY Change 6.51% 27.75% -4.76%
Cash From Operating Activities $104.9M $137.2M $21.60M
YoY Change 117.18% 535.19% -87.88%
INVESTING ACTIVITIES
Capital Expenditures -$33.20M -$24.20M -$47.50M
YoY Change -5.95% -49.05% 4.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.400M -$4.200M
YoY Change -100.0% -66.67% -109.98%
Cash From Investing Activities -$33.20M -$25.60M -$51.70M
YoY Change -67.89% -50.48% 1420.59%
FINANCING ACTIVITIES
Cash Dividend Paid $43.40M $43.40M $43.40M
YoY Change 0.0% 0.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.40M -$43.80M -53.20M
YoY Change -171.05% -17.67% -30.28%
NET CHANGE
Cash From Operating Activities 104.9M $137.2M 21.60M
Cash From Investing Activities -33.20M -$25.60M -51.70M
Cash From Financing Activities -45.40M -$43.80M -53.20M
Net Change In Cash 26.30M $67.80M -83.30M
YoY Change 198.86% -181.39% -184.57%
FREE CASH FLOW
Cash From Operating Activities $104.9M $137.2M $21.60M
Capital Expenditures -$33.20M -$24.20M -$47.50M
Free Cash Flow $138.1M $161.4M $69.10M
YoY Change 65.19% 133.57% -69.11%

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CY2017Q1 us-gaap Inventory Net
InventoryNet
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CY2016Q4 us-gaap Inventory Parts And Components Net Of Reserves
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CY2017Q1 us-gaap Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
74600000 USD
CY2016Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
23900000 USD
CY2017Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
38900000 USD
CY2016Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
200000 USD
CY2017Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
200000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4050200000 USD
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4053200000 USD
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LiabilitiesCurrent
565900000 USD
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
560400000 USD
CY2016Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1774700000 USD
CY2017Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1788400000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1162800000 USD
CY2017Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1163300000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1800000 USD
CY2017Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
1900000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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1194100000 USD
CY2017Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
1193700000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
851500000 USD
CY2017Q1 us-gaap Minority Interest
MinorityInterest
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CY2016Q2 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
5000000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-83300000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
67800000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-53200000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-43800000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-51700000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-25600000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
21600000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
137200000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-16200000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
22200000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-14700000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16000000 USD
CY2016Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16200000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22200000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12800000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-14600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
5100000 USD
CY2016Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2200000 USD
CY2017Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2100000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21400000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21500000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-39900000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
67600000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
32700000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4600000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4900000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5400000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5900000 USD
CY2017Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
6800000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
0 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
217200000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
221700000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
32000000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
33300000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
300000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
43400000 USD
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
43400000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
43400000 USD
CY2016Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
200000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2016Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0 USD
CY2017Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1400000 USD
CY2016Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
4200000 USD
CY2017Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
CY2016Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
47500000 USD
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
24200000 USD
CY2016Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
9200000 USD
CY2017Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
68400000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
37900000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-30900000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
38200000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3899600000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3922200000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2672100000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2642200000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
300000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
700000 USD
CY2016Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
400000 USD
CY2017Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
400000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-338100000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-359300000 USD
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
905500000 USD
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1507100000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27200000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
29100000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1800000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3300000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
858100000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
836900000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1709600000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1704400000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
98610 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
98610 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2300000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2300000 USD
CY2016Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
300000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Securities
UnrealizedGainLossOnSecurities
0 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
44100000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
8700000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
28700000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
99700000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
110600000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
132800000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
128100000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
1232200000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
648900000 USD
CY2017Q1 us-gaap Unrecorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
UnrecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
112100000 USD
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86800000 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86800000 shares

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