2018 Q1 Form 10-Q Financial Statement

#000002632418000005 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $547.5M $523.6M
YoY Change 4.57% 3.99%
Cost Of Revenue $366.3M $356.7M
YoY Change 2.71% 7.55%
Gross Profit $181.2M $166.9M
YoY Change 8.54% -2.89%
Gross Profit Margin 33.09% 31.88%
Selling, General & Admin $100.8M $103.7M
YoY Change -2.8% 4.19%
% of Gross Profit 55.61% 62.09%
Research & Development $15.94M $15.59M
YoY Change 2.24% 2.84%
% of Gross Profit 8.8% 9.34%
Depreciation & Amortization $24.60M $24.90M
YoY Change -1.2% 1.63%
% of Gross Profit 13.58% 14.92%
Operating Expenses $116.7M $119.2M
YoY Change -2.14% 4.02%
Operating Profit $64.50M $47.69M
YoY Change 35.24% -16.71%
Interest Expense $8.204M $10.38M
YoY Change -20.94% 4.47%
% of Operating Profit 12.72% 21.76%
Other Income/Expense, Net $4.683M $3.847M
YoY Change 21.73% 1544.02%
Pretax Income $60.98M $41.16M
YoY Change 48.14% -13.46%
Income Tax $17.33M $8.615M
% Of Pretax Income 28.43% 20.93%
Net Earnings $43.64M $32.55M
YoY Change 34.09% -0.83%
Net Earnings / Revenue 7.97% 6.22%
Basic Earnings Per Share $0.99 $0.74
Diluted Earnings Per Share $0.98 $0.73
COMMON SHARES
Basic Shares Outstanding 44.19M shares 44.25M shares
Diluted Shares Outstanding 44.68M shares 44.86M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $396.5M $272.9M
YoY Change 45.29% -19.09%
Cash & Equivalents $396.5M $272.9M
Short-Term Investments
Other Short-Term Assets $50.69M $45.51M
YoY Change 11.37% 19.32%
Inventory $386.8M $395.2M
Prepaid Expenses
Receivables $518.8M $476.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.353B $1.190B
YoY Change 13.67% -5.56%
LONG-TERM ASSETS
Property, Plant & Equipment $385.3M $389.3M
YoY Change -1.02% -4.39%
Goodwill $1.099B $1.071B
YoY Change 2.64% 9.45%
Intangibles $322.9M $352.9M
YoY Change -8.51% 15.32%
Long-Term Investments
YoY Change
Other Assets $18.69M $14.49M
YoY Change 28.95% 23.8%
Total Long-Term Assets $1.826B $1.828B
YoY Change -0.08% 7.3%
TOTAL ASSETS
Total Short-Term Assets $1.353B $1.190B
Total Long-Term Assets $1.826B $1.828B
Total Assets $3.179B $3.018B
YoY Change 5.34% 1.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $165.4M $146.2M
YoY Change 13.12% 8.45%
Accrued Expenses $102.6M $95.40M
YoY Change 7.55% -0.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $150.6M
YoY Change -99.34% 16633.33%
Total Short-Term Liabilities $541.3M $624.8M
YoY Change -13.37% 36.67%
LONG-TERM LIABILITIES
Long-Term Debt $813.6M $815.2M
YoY Change -0.2% -15.68%
Other Long-Term Liabilities $104.1M $82.17M
YoY Change 26.65% 4.8%
Total Long-Term Liabilities $917.6M $897.4M
YoY Change 2.26% -14.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $541.3M $624.8M
Total Long-Term Liabilities $917.6M $897.4M
Total Liabilities $1.600B $1.694B
YoY Change -5.52% 0.99%
SHAREHOLDERS EQUITY
Retained Earnings $1.979B $1.781B
YoY Change 11.15% 10.07%
Common Stock $165.4M $169.3M
YoY Change -2.29% -7.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $366.7M $346.9M
YoY Change 5.69% 13.45%
Treasury Stock Shares 4.952M shares 4.903M shares
Shareholders Equity $1.579B $1.324B
YoY Change
Total Liabilities & Shareholders Equity $3.179B $3.018B
YoY Change 5.34% 1.83%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $43.64M $32.55M
YoY Change 34.09% -0.83%
Depreciation, Depletion And Amortization $24.60M $24.90M
YoY Change -1.2% 1.63%
Cash From Operating Activities -$71.26M -$24.94M
YoY Change 185.72% -135.5%
INVESTING ACTIVITIES
Capital Expenditures $8.971M $10.37M
YoY Change -13.52% 17.55%
Acquisitions $0.00 $239.4M
YoY Change -100.0%
Other Investing Activities $800.0K -$239.3M
YoY Change -100.33% -119750.0%
Cash From Investing Activities -$9.652M -$249.7M
YoY Change -96.13% 2795.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.33M $12.89M
YoY Change -4.32% -56.48%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$5.526M -$8.003M
YoY Change -30.95% -54.71%
NET CHANGE
Cash From Operating Activities -$71.26M -$24.94M
Cash From Investing Activities -$9.652M -$249.7M
Cash From Financing Activities -$5.526M -$8.003M
Net Change In Cash -$86.44M -$282.6M
YoY Change -69.41% -742.75%
FREE CASH FLOW
Cash From Operating Activities -$71.26M -$24.94M
Capital Expenditures $8.971M $10.37M
Free Cash Flow -$80.23M -$35.32M
YoY Change 127.19% -157.48%

Facts In Submission

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NetCashProvidedByUsedInFinancingActivities
-8003000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5526000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-249661000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9652000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24941000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-71262000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
32547000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
43643000 USD
CY2017Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
2 NumberAcquisitions
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
47692000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
64498000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
52951000 USD
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
50688000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
18229000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
18689000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-1200000 USD
CY2018Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent
-900000 USD
CY2017 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
67111000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
15266000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
11224000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
15411000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
74916000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-100000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-700000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
13175000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18033000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1951000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-2622000 USD
CY2017Q4 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
35000000 USD
CY2018Q1 us-gaap Other Inventory Capitalized Costs
OtherInventoryCapitalizedCosts
43100000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
35810000 USD
CY2018Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
45519000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
118586000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
104072000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3847000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4683000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12885000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12328000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
239372000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2017Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
CY2018Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1500000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10374000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8971000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
121043000 USD
CY2018Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
67984000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
120000 USD
CY2018Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3716000 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-224000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-181000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
85000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
819000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5195000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6151000 USD
CY2017Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
11745000 USD
CY2018Q1 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
9901000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
390235000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
385287000 USD
CY2017Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
494923000 USD
CY2018Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
518784000 USD
CY2017 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-7805000 USD
CY2018Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2767000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
209000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2884000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15591000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15941000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1944324000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1979051000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2100000000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
12 -36 months
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
423229000 USD
CY2018Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
444687000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
523591000 USD
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
547522000 USD
CY2017Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
100362000 USD
CY2018Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
102835000 USD
CY2017Q1 us-gaap Selling Expense
SellingExpense
29458000 USD
CY2018Q1 us-gaap Selling Expense
SellingExpense
31520000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3364000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4591000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1527800000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1578975000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5063859 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
4952098 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
369480000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
366677000 USD
CY2017Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
160727000 USD
CY2018Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
202893000 USD
CY2017Q4 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date
UnbilledReceivablesNotBillableAtBalanceSheetDate
139175000 USD
CY2018Q1 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date
UnbilledReceivablesNotBillableAtBalanceSheetDate
182199000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44860000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44678000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44246000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44188000 shares

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