2017 Q3 Form 10-Q Financial Statement

#000103520117000012 Filed on October 26, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $197.0M $184.3M
YoY Change 6.89% 0.44%
Cost Of Revenue $75.30M $70.20M
YoY Change 7.26% 16.23%
Gross Profit $136.4M $114.1M
YoY Change 19.54% -7.31%
Gross Profit Margin 69.24% 61.91%
Selling, General & Admin $22.70M $23.80M
YoY Change -4.62% -22.48%
% of Gross Profit 16.64% 20.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.70M $16.20M
YoY Change 21.6% 3.18%
% of Gross Profit 14.44% 14.2%
Operating Expenses $75.80M $70.80M
YoY Change 7.06% -6.35%
Operating Profit $43.90M $30.06M
YoY Change 46.07% -6.66%
Interest Expense -$8.600M -$7.700M
YoY Change 11.69% 14.93%
% of Operating Profit -19.59% -25.62%
Other Income/Expense, Net -$36.00K $531.0K
YoY Change -106.78% -240.48%
Pretax Income $52.00M $36.50M
YoY Change 42.47% -9.2%
Income Tax $18.19M $13.60M
% Of Pretax Income 34.98% 37.25%
Net Earnings $35.29M $22.88M
YoY Change 54.27% -8.94%
Net Earnings / Revenue 17.91% 12.41%
Basic Earnings Per Share $0.70 $0.48
Diluted Earnings Per Share $0.74 $0.48
COMMON SHARES
Basic Shares Outstanding 48.02M shares 47.97M shares
Diluted Shares Outstanding 48.02M shares 47.97M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.30M $21.40M
YoY Change 32.24% -57.87%
Cash & Equivalents $28.34M $21.35M
Short-Term Investments
Other Short-Term Assets $18.89M $16.66M
YoY Change 13.35% 11.76%
Inventory $6.300M $6.300M
Prepaid Expenses
Receivables $46.96M $45.38M
Other Receivables $28.90M $24.60M
Total Short-Term Assets $180.5M $151.1M
YoY Change 19.43% -20.9%
LONG-TERM ASSETS
Property, Plant & Equipment $1.982B $1.818B
YoY Change 9.03% 9.27%
Goodwill $2.615M $2.615M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $58.20M $50.95M
YoY Change 14.22% 0.42%
Total Long-Term Assets $2.423B $2.235B
YoY Change 8.4% 5.65%
TOTAL ASSETS
Total Short-Term Assets $180.5M $151.1M
Total Long-Term Assets $2.423B $2.235B
Total Assets $2.603B $2.386B
YoY Change 9.1% 3.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $89.39M $84.05M
YoY Change 6.36% 8.79%
Accrued Expenses $55.30M $53.90M
YoY Change 2.6% -31.34%
Deferred Revenue
YoY Change
Short-Term Debt $195.1M $57.10M
YoY Change 241.68% -58.2%
Long-Term Debt Due $36.02M $6.130M
YoY Change 487.52% -6.63%
Total Short-Term Liabilities $380.4M $204.0M
YoY Change 86.47% -32.18%
LONG-TERM LIABILITIES
Long-Term Debt $519.7M $555.5M
YoY Change -6.45% 33.4%
Other Long-Term Liabilities $685.8M $691.5M
YoY Change -0.82% -2.88%
Total Long-Term Liabilities $519.7M $555.5M
YoY Change -6.45% 33.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $380.4M $204.0M
Total Long-Term Liabilities $519.7M $555.5M
Total Liabilities $900.1M $759.5M
YoY Change 18.5% 5.9%
SHAREHOLDERS EQUITY
Retained Earnings $351.7M $317.3M
YoY Change 10.84% 3.0%
Common Stock $336.0M $334.7M
YoY Change 0.39% 0.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $687.7M $652.0M
YoY Change
Total Liabilities & Shareholders Equity $2.603B $2.386B
YoY Change 9.1% 3.45%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $35.29M $22.88M
YoY Change 54.27% -8.94%
Depreciation, Depletion And Amortization $19.70M $16.20M
YoY Change 21.6% 3.18%
Cash From Operating Activities $74.10M $64.70M
YoY Change 14.53% -5.13%
INVESTING ACTIVITIES
Capital Expenditures -$71.70M -$50.20M
YoY Change 42.83% 18.12%
Acquisitions
YoY Change
Other Investing Activities -$1.600M -$1.700M
YoY Change -5.88% -10.53%
Cash From Investing Activities -$73.30M -$51.90M
YoY Change 41.23% 16.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.400M -22.30M
YoY Change -93.72% -992.0%
NET CHANGE
Cash From Operating Activities 74.10M 64.70M
Cash From Investing Activities -73.30M -51.90M
Cash From Financing Activities -1.400M -22.30M
Net Change In Cash -600.0K -9.500M
YoY Change -93.68% -136.12%
FREE CASH FLOW
Cash From Operating Activities $74.10M $64.70M
Capital Expenditures -$71.70M -$50.20M
Free Cash Flow $145.8M $114.9M
YoY Change 26.89% 3.79%

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57991000 USD
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166406000 USD
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17158000 USD
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0 USD
us-gaap Number Of Reportable Segments
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1 segment
us-gaap Net Cash Provided By Used In Investing Activities
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-169306000 USD
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123829000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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109788000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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123829000 USD
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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22875000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33585000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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33849000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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53512000 USD
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
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26767000 USD
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
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31750000 USD
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16438000 USD
CY2016Q4 us-gaap Notes Receivable Related Parties Noncurrent
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0 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
30055000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
54859000 USD
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OperatingIncomeLoss
41196000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
74505000 USD
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13554000 USD
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18888000 USD
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54469000 USD
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OtherAssetsMiscellaneousNoncurrent
60811000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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2517000 USD
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8306000 USD
CY2017Q3 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
2576000 USD
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
6244000 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
531000 USD
us-gaap Other Nonoperating Income Expense
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1369000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1230000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4315000 USD
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222691000 USD
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227819000 USD
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PaymentsForRepurchaseOfCommonStock
637000 USD
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1359000 USD
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PaymentsOfDebtIssuanceCosts
177000 USD
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PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
0 USD
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
24807000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
25920000 USD
us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
2710000 USD
us-gaap Payments To Acquire Life Insurance Policies
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3948000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
1558000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
49823000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
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ProceedsFromLifeInsurancePolicies
495000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
105100000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
185000000 USD
CY2016Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
0 USD
us-gaap Payments To Acquire Water And Waste Water Systems
PaymentsToAcquireWaterAndWasteWaterSystems
180442000 USD
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ProceedsFromContributionInAidOfConstruction
18186000 USD
us-gaap Proceeds From Contribution In Aid Of Construction
ProceedsFromContributionInAidOfConstruction
14964000 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Dividends Received
ProceedsFromDividendsReceived
0 USD
us-gaap Proceeds From Dividends Received
ProceedsFromDividendsReceived
0 USD
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0 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
1697000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
0 USD
CY2017Q3 us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
1105000 USD
us-gaap Public Utilities Allowance For Funds Used During Construction Additions
PublicUtilitiesAllowanceForFundsUsedDuringConstructionAdditions
2763000 USD
CY2016Q4 us-gaap Public Utilities Inventory
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6292000 USD
CY2017Q3 us-gaap Public Utilities Inventory
PublicUtilitiesInventory
6344000 USD
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858062000 USD
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PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
910742000 USD
CY2016Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
1859277000 USD
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PublicUtilitiesPropertyPlantAndEquipmentNet
1981924000 USD
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2717339000 USD
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PublicUtilitiesPropertyPlantAndEquipmentPlantInService
2892666000 USD
CY2016Q4 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
25228000 USD
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ReceivablesLongTermContractsOrPrograms
38491000 USD
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ReceivablesNetCurrent
103023000 USD
CY2016Q3 us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
184268000 USD
us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
458440000 USD
CY2017Q3 us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
211731000 USD
us-gaap Regulated Operating Revenue Water
RegulatedOperatingRevenueWater
504899000 USD
CY2016Q4 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
30332000 USD
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RegulatoryAssetsCurrent
31364000 USD
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355930000 USD
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RegulatoryAssetsNoncurrent
379884000 USD
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4759000 USD
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RegulatoryLiabilityCurrent
4545000 USD
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RegulatoryLiabilityNoncurrent
38735000 USD
CY2017Q3 us-gaap Regulatory Liability Noncurrent
RegulatoryLiabilityNoncurrent
44037000 USD
us-gaap Repayments Of Advances For Construction
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5194000 USD
us-gaap Repayments Of Advances For Construction
RepaymentsOfAdvancesForConstruction
6316000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2865000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2797000 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
81615000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
87000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
324135000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
351727000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
97100000 USD
CY2017Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
195100000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
660000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
659471000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
687723000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10500000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10200000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2200000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1900000 USD
CY2016Q3 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
3397000 USD
us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
10589000 USD
CY2017Q3 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
3542000 USD
us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
10743000 USD
CY2016Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
154213000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
403581000 USD
CY2017Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
170535000 USD
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
430394000 USD
CY2016Q3 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
15884000 USD
us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
47772000 USD
CY2017Q3 us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
19231000 USD
us-gaap Utilities Operating Expense Depreciation And Amortization
UtilitiesOperatingExpenseDepreciationAndAmortization
57650000 USD
CY2016Q3 us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
5545000 USD
us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
17542000 USD
CY2017Q3 us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
6057000 USD
us-gaap Utilities Operating Expense Maintenance
UtilitiesOperatingExpenseMaintenance
16877000 USD
CY2016Q3 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
19561000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
57766000 USD
CY2017Q3 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
21208000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
55660000 USD
CY2016Q3 us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
70175000 USD
us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
168833000 USD
CY2017Q3 us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
75261000 USD
us-gaap Utilities Operating Expense Products And Services
UtilitiesOperatingExpenseProductsAndServices
181460000 USD
CY2016Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
5957000 USD
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
17439000 USD
CY2017Q3 us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
6544000 USD
us-gaap Utilities Operating Expense Taxes
UtilitiesOperatingExpenseTaxes
18717000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47969000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47952000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48017000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48007000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47969000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47949000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48017000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48007000 shares

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