2023 Q3 Form 10-Q Financial Statement

#000002632423000013 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $724.3M $704.4M
YoY Change 14.87% 15.6%
Cost Of Revenue $442.9M $444.8M
YoY Change 11.18% 16.8%
Gross Profit $281.5M $259.6M
YoY Change 21.21% 13.59%
Gross Profit Margin 38.86% 36.85%
Selling, General & Admin $125.5M $126.6M
YoY Change 17.01% 18.82%
% of Gross Profit 44.58% 48.77%
Research & Development $23.46M $20.21M
YoY Change 34.95% -15.33%
% of Gross Profit 8.34% 7.79%
Depreciation & Amortization $28.86M $29.05M
YoY Change -3.39% 10.52%
% of Gross Profit 10.25% 11.19%
Operating Expenses $148.9M $146.8M
YoY Change 19.52% 12.57%
Operating Profit $132.5M $112.8M
YoY Change 23.18% 14.95%
Interest Expense $12.50M -$14.99M
YoY Change -10.72% -253.17%
% of Operating Profit 9.43% -13.29%
Other Income/Expense, Net $7.023M $7.954M
YoY Change 87.48% 74.62%
Pretax Income $127.0M $105.7M
YoY Change 30.53% 13.85%
Income Tax $30.27M $24.74M
% Of Pretax Income 23.82% 23.4%
Net Earnings $96.78M $81.00M
YoY Change 31.19% 14.29%
Net Earnings / Revenue 13.36% 11.5%
Basic Earnings Per Share $2.53 $2.11
Diluted Earnings Per Share $2.51 $2.10
COMMON SHARES
Basic Shares Outstanding 38.31M shares 38.34M shares
Diluted Shares Outstanding 38.56M shares 38.56M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $148.8M $158.7M
YoY Change 31.05% -7.4%
Cash & Equivalents $148.8M $158.7M
Short-Term Investments
Other Short-Term Assets $65.79M $67.69M
YoY Change -22.11% -19.97%
Inventory $540.2M $545.6M
Prepaid Expenses
Receivables $790.3M $751.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.545B $1.524B
YoY Change 9.22% 5.92%
LONG-TERM ASSETS
Property, Plant & Equipment $334.9M $484.7M
YoY Change -1.09% 39.25%
Goodwill $1.547B $1.556B
YoY Change 2.28% 1.56%
Intangibles $572.3M $589.9M
YoY Change -7.47% -7.66%
Long-Term Investments
YoY Change
Other Assets $40.06M $287.0M
YoY Change -12.21% 694.43%
Total Long-Term Assets $2.869B $2.918B
YoY Change -2.0% -1.57%
TOTAL ASSETS
Total Short-Term Assets $1.545B $1.524B
Total Long-Term Assets $2.869B $2.918B
Total Assets $4.414B $4.441B
YoY Change 1.65% 0.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $213.7M $233.6M
YoY Change 17.0% 36.14%
Accrued Expenses $188.5M $144.1M
YoY Change 34.66% 7.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $775.4M $720.9M
YoY Change -7.73% -31.94%
LONG-TERM LIABILITIES
Long-Term Debt $1.051B $1.176B
YoY Change -7.93% 16.84%
Other Long-Term Liabilities $96.44M $288.0M
YoY Change -4.59% 198.77%
Total Long-Term Liabilities $1.147B $1.464B
YoY Change -7.66% 32.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $775.4M $720.9M
Total Long-Term Liabilities $1.147B $1.464B
Total Liabilities $2.229B $2.303B
YoY Change -9.32% -9.15%
SHAREHOLDERS EQUITY
Retained Earnings $3.376B $3.297B
YoY Change 9.86% 9.68%
Common Stock $185.8M $180.0M
YoY Change 2.98% 2.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.123B $1.114B
YoY Change 2.56% 2.53%
Treasury Stock Shares
Shareholders Equity $2.185B $2.138B
YoY Change
Total Liabilities & Shareholders Equity $4.414B $4.441B
YoY Change 1.65% 0.88%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $96.78M $81.00M
YoY Change 31.19% 14.29%
Depreciation, Depletion And Amortization $28.86M $29.05M
YoY Change -3.39% 10.52%
Cash From Operating Activities $146.4M $111.0M
YoY Change 53.01% 257.4%
INVESTING ACTIVITIES
Capital Expenditures $9.373M $12.00M
YoY Change -200.82% -239.63%
Acquisitions
YoY Change
Other Investing Activities -$9.000K $249.0K
YoY Change -100.0% -66.89%
Cash From Investing Activities -$9.382M -$11.75M
YoY Change -96.44% 49.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -140.6M -72.74M
YoY Change -210.98% -709.14%
NET CHANGE
Cash From Operating Activities 146.4M 111.0M
Cash From Investing Activities -9.382M -11.75M
Cash From Financing Activities -140.6M -72.74M
Net Change In Cash -3.597M 26.46M
YoY Change -91.31% -24.7%
FREE CASH FLOW
Cash From Operating Activities $146.4M $111.0M
Capital Expenditures $9.373M $12.00M
Free Cash Flow $137.0M $98.95M
YoY Change 30.52% 149.62%

Facts In Submission

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38528000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38657000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22000 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
37000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31000 shares
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
704396000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
609357000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1335256000 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1168818000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
112775000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
98105000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
191390000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
158615000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
112775000 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
98105000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
14992000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
9788000 usd
us-gaap Interest Expense
InterestExpense
27936000 usd
us-gaap Interest Expense
InterestExpense
19318000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7954000 usd
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4555000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15721000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7552000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
105737000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
92872000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
179175000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
146849000 usd
CY2023Q2 us-gaap Assets
Assets
4441098000 usd
CY2022Q4 us-gaap Assets
Assets
4449602000 usd
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-190465000 usd
CY2022 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-84688000 usd
CY2022 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-16237000 usd
CY2022 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-68451000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-258916000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
33479000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-62000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
33541000 usd
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-225375000 usd

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