2017 Q2 Form 10-Q Financial Statement

#000103520117000009 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $162.6M $152.4M
YoY Change 6.69% 5.54%
Cost Of Revenue $64.10M $57.60M
YoY Change 11.28% 8.68%
Gross Profit $107.0M $94.80M
YoY Change 12.87% 3.72%
Gross Profit Margin 65.81% 62.2%
Selling, General & Admin $21.40M $23.40M
YoY Change -8.55% -12.03%
% of Gross Profit 20.0% 24.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.60M $16.20M
YoY Change 20.99% 1.25%
% of Gross Profit 18.32% 17.09%
Operating Expenses $69.80M $69.40M
YoY Change 0.58% -0.57%
Operating Profit $28.11M $18.53M
YoY Change 51.67% 12.37%
Interest Expense -$8.500M -$7.600M
YoY Change 11.84% 15.15%
% of Operating Profit -30.24% -41.01%
Other Income/Expense, Net $375.0K $571.0K
YoY Change -34.33% -3906.67%
Pretax Income $29.40M $18.80M
YoY Change 56.38% 26.17%
Income Tax $10.85M $7.254M
% Of Pretax Income 36.91% 38.59%
Net Earnings $19.97M $11.51M
YoY Change 73.54% 16.89%
Net Earnings / Revenue 12.28% 7.55%
Basic Earnings Per Share $0.39 $0.24
Diluted Earnings Per Share $0.42 $0.24
COMMON SHARES
Basic Shares Outstanding 48.02M shares 47.97M shares
Diluted Shares Outstanding 48.02M shares 47.97M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.10M $30.80M
YoY Change -5.52% 25.71%
Cash & Equivalents $30.14M $30.83M
Short-Term Investments
Other Short-Term Assets $21.20M $19.65M
YoY Change 7.89% -71.48%
Inventory $6.500M $6.400M
Prepaid Expenses
Receivables $39.03M $36.64M
Other Receivables $32.00M $25.20M
Total Short-Term Assets $170.6M $159.0M
YoY Change 7.28% 5.86%
LONG-TERM ASSETS
Property, Plant & Equipment $1.929B $1.785B
YoY Change 8.04% 9.07%
Goodwill $2.615M $2.615M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $55.35M $48.11M
YoY Change 15.05% -89.39%
Total Long-Term Assets $2.362B $2.199B
YoY Change 7.43% 5.08%
TOTAL ASSETS
Total Short-Term Assets $170.6M $159.0M
Total Long-Term Assets $2.362B $2.199B
Total Assets $2.533B $2.358B
YoY Change 7.42% 5.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $84.22M $77.60M
YoY Change 8.53% 12.96%
Accrued Expenses $43.90M $40.50M
YoY Change 8.4% -38.54%
Deferred Revenue
YoY Change
Short-Term Debt $190.1M $75.10M
YoY Change 153.13% -40.68%
Long-Term Debt Due $36.11M $6.133M
YoY Change 488.78% -7.08%
Total Short-Term Liabilities $361.0M $202.0M
YoY Change 78.71% -25.29%
LONG-TERM LIABILITIES
Long-Term Debt $519.9M $555.8M
YoY Change -6.46% 33.35%
Other Long-Term Liabilities $679.4M $692.2M
YoY Change -1.85% -2.71%
Total Long-Term Liabilities $519.9M $555.8M
YoY Change -6.46% -50.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $361.0M $202.0M
Total Long-Term Liabilities $519.9M $555.8M
Total Liabilities $880.9M $757.8M
YoY Change 16.24% -53.22%
SHAREHOLDERS EQUITY
Retained Earnings $326.5M $302.7M
YoY Change 7.86%
Common Stock $335.3M $334.0M
YoY Change 0.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $661.8M $636.8M
YoY Change
Total Liabilities & Shareholders Equity $2.533B $2.358B
YoY Change 7.42% 5.13%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $19.97M $11.51M
YoY Change 73.54% 16.89%
Depreciation, Depletion And Amortization $19.60M $16.20M
YoY Change 20.99% 1.25%
Cash From Operating Activities $21.40M $28.10M
YoY Change -23.84% 31.31%
INVESTING ACTIVITIES
Capital Expenditures -$56.80M -$59.70M
YoY Change -4.86% 46.32%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$300.0K
YoY Change -33.33% 50.0%
Cash From Investing Activities -$57.00M -$60.00M
YoY Change -5.0% 46.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.30M 31.90M
YoY Change 67.08% 198.13%
NET CHANGE
Cash From Operating Activities 21.40M 28.10M
Cash From Investing Activities -57.00M -60.00M
Cash From Financing Activities 53.30M 31.90M
Net Change In Cash 17.70M -0.000000007451
YoY Change -237565378560000100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities $21.40M $28.10M
Capital Expenditures -$56.80M -$59.70M
Free Cash Flow $78.20M $87.80M
YoY Change -10.93% 41.16%

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35726000 USD
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17322000 USD
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1 segment
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18534000 USD
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24804000 USD
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OtherNonoperatingIncomeExpense
571000 USD
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227186000 USD
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548000 USD
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0 USD
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108712000 USD
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11463000 USD
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177000 USD
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0 USD
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0 USD
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0 USD
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16532000 USD
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17278000 USD
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1065000 USD
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1216000 USD
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116155000 USD
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10312000 USD
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0 USD
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0 USD
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ProceedsFromIssuanceOfLongTermDebt
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0 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
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0 USD
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PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
879000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
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897575000 USD
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1859277000 USD
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1928612000 USD
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2717339000 USD
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2826187000 USD
CY2016Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
25228000 USD
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ReceivablesNetCurrent
103023000 USD
CY2016Q2 us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
152445000 USD
us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
274172000 USD
CY2017Q2 us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
171132000 USD
us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
293168000 USD
CY2016Q4 us-gaap Regulatory Assets Current
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30332000 USD
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40569000 USD
us-gaap Repayments Of Advances For Construction
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3472000 USD
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RepaymentsOfAdvancesForConstruction
4430000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2463000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2407000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
61615000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
47000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
324135000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
326520000 USD
CY2016Q4 us-gaap Short Term Borrowings
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97100000 USD
CY2017Q2 us-gaap Short Term Borrowings
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190100000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
-22000 USD
us-gaap Stock Issued During Period Value New Issues
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0 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
659471000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
661834000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10200000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10200000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1900000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1900000 USD
CY2016Q2 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
3764000 USD
us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
7192000 USD
CY2017Q2 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
3739000 USD
us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
7201000 USD
CY2016Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
133911000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
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CY2017Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
145873000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
259859000 USD
CY2016Q2 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
15842000 USD
us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
31888000 USD
CY2017Q2 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
19218000 USD
us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
38419000 USD
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5934000 USD
us-gaap Utilities Operating Expense Maintenance
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11997000 USD
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UtilitiesOperatingExpenseMaintenance
4708000 USD
us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
10820000 USD
CY2016Q2 us-gaap Utilities Operating Expense Other
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18903000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
38205000 USD
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UtilitiesOperatingExpenseOther
18328000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
34452000 USD
CY2016Q2 us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
57589000 USD
us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
98658000 USD
CY2017Q2 us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
64131000 USD
us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
106199000 USD
CY2016Q2 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
5407000 USD
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
11482000 USD
CY2017Q2 us-gaap Utilities Operating Expense Taxes
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6057000 USD
us-gaap Utilities Operating Expense Taxes
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12173000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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47972000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47943000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48020000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48002000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47972000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47938000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48020000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48002000 shares

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