2024 Q3 Form 10-Q Financial Statement

#000162828024035654 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $403.5M $370.6M
YoY Change 14.34% 5.16%
Cost Of Revenue $232.2M $209.7M
YoY Change 23.91% 13.97%
Gross Profit $171.3M $160.9M
YoY Change 3.5% -4.45%
Gross Profit Margin 42.45% 43.42%
Selling, General & Admin $96.30M $93.30M
YoY Change 12.24% -6.33%
% of Gross Profit 56.22% 57.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.70M $20.20M
YoY Change 20.49% 104.04%
% of Gross Profit 14.42% 12.55%
Operating Expenses $96.30M $93.30M
YoY Change 12.24% -6.33%
Operating Profit $75.00M $67.60M
YoY Change -5.9% -1.74%
Interest Expense -$13.00M -$12.00M
YoY Change 4.0% -13.67%
% of Operating Profit -17.33% -17.75%
Other Income/Expense, Net -$11.70M -$12.20M
YoY Change -0.85% -5.43%
Pretax Income $63.30M $55.40M
YoY Change -6.77% -0.89%
Income Tax $16.20M $13.80M
% Of Pretax Income 25.59% 24.91%
Net Earnings $47.10M $41.60M
YoY Change -9.25% -3.7%
Net Earnings / Revenue 11.67% 11.23%
Basic Earnings Per Share $0.82 $0.73
Diluted Earnings Per Share $0.81 $0.72
COMMON SHARES
Basic Shares Outstanding 57.14M shares 57.13M shares
Diluted Shares Outstanding 57.80M shares 57.80M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.1M $175.5M
YoY Change -27.9% -36.62%
Cash & Equivalents $165.1M $175.5M
Short-Term Investments
Other Short-Term Assets $62.50M $54.90M
YoY Change 22.07% 10.69%
Inventory $169.8M $171.0M
Prepaid Expenses
Receivables $215.2M $225.4M
Other Receivables $18.00M $5.100M
Total Short-Term Assets $630.6M $631.9M
YoY Change 0.86% -9.88%
LONG-TERM ASSETS
Property, Plant & Equipment $278.0M $271.2M
YoY Change 13.61% 7.92%
Goodwill $965.4M $950.4M
YoY Change 16.69% 13.78%
Intangibles $440.2M $443.6M
YoY Change 40.06% 36.49%
Long-Term Investments
YoY Change
Other Assets $95.50M $86.70M
YoY Change 21.66% 11.3%
Total Long-Term Assets $1.780B $1.756B
YoY Change 21.18% 17.53%
TOTAL ASSETS
Total Short-Term Assets $630.6M $631.9M
Total Long-Term Assets $1.780B $1.756B
Total Assets $2.411B $2.388B
YoY Change 15.11% 8.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $108.4M $101.3M
YoY Change -2.43% 0.5%
Accrued Expenses $183.1M $205.4M
YoY Change 0.72% 3.48%
Deferred Revenue $63.50M $94.20M
YoY Change -16.23% 0.32%
Short-Term Debt $155.0M $220.2M
YoY Change 2248.48% 2242.55%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $456.4M $526.9M
YoY Change 46.0% 66.27%
LONG-TERM LIABILITIES
Long-Term Debt $638.2M $638.9M
YoY Change -9.87% -22.99%
Other Long-Term Liabilities $91.90M $77.80M
YoY Change 35.35% 14.75%
Total Long-Term Liabilities $91.90M $77.80M
YoY Change 35.35% 14.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $456.4M $526.9M
Total Long-Term Liabilities $91.90M $77.80M
Total Liabilities $1.340B $1.398B
YoY Change 9.69% 4.32%
SHAREHOLDERS EQUITY
Retained Earnings $220.0M $182.0M
YoY Change 177.43% 415.58%
Common Stock $72.40M $72.40M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.071B $989.8M
YoY Change
Total Liabilities & Shareholders Equity $2.411B $2.388B
YoY Change 15.11% 8.77%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $47.10M $41.60M
YoY Change -9.25% -3.7%
Depreciation, Depletion And Amortization $24.70M $20.20M
YoY Change 20.49% 104.04%
Cash From Operating Activities $66.70M $56.80M
YoY Change -35.12% -65.74%
INVESTING ACTIVITIES
Capital Expenditures $13.20M $8.900M
YoY Change 73.68% -302.27%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$269.7M
YoY Change
Cash From Investing Activities -$13.30M -$278.6M
YoY Change 75.0% -6579.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -74.40M 179.6M
YoY Change -43.98% 645.23%
NET CHANGE
Cash From Operating Activities 66.70M 56.80M
Cash From Investing Activities -13.30M -278.6M
Cash From Financing Activities -74.40M 179.6M
Net Change In Cash -21.00M -42.20M
YoY Change -44.15% -121.73%
FREE CASH FLOW
Cash From Operating Activities $66.70M $56.80M
Capital Expenditures $13.20M $8.900M
Free Cash Flow $53.50M $47.90M
YoY Change -43.8% -71.86%

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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
370600000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
352400000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
684200000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
681500000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
501900000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.76
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.20
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
34500000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
30300000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
98300000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
92500000 usd
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
20500000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
48200000 usd
CY2023Q2 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
56700000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
43200000 usd
us-gaap Net Income Loss
NetIncomeLoss
79400000 usd
us-gaap Net Income Loss
NetIncomeLoss
86900000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57100000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56800000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
700000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57800000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57400000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.76
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.53
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.72
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.51
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
1300000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
1500000 usd
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.250
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.227
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.214
cxt Oecd Pillar Two Adoption Expense
OECDPillarTwoAdoptionExpense
2000000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
18200000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19300000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
841200000 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
123100000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-13900000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
950400000 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
443600000 usd
CY2024Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
45500000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
308900000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
45500000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
308900000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
344900000 usd
cxt Finiteand Indefinitelivedintangibleassetsacquired
FiniteandIndefinitelivedintangibleassetsacquired
159300000 usd
cxt Finiteand Indefinitelivedintangibleassetsacquired
FiniteandIndefinitelivedintangibleassetsacquired
0 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20200000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
35900000 usd
cxt Finite Lived And Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedAndIndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-4400000 usd
CY2023 cxt Finite Lived And Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedAndIndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-100000 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
443600000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
308900000 usd
CY2024Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P18Y
CY2024Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
814100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
370500000 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
443600000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
666400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
357500000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
308900000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
26400000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
44100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
43900000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
41500000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
37600000 usd
CY2024Q2 cxt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
204600000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
94200000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
92500000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
44000000.0 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
62300000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7900000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7200000 usd
CY2024Q2 us-gaap Interest Payable Current
InterestPayableCurrent
7600000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
6300000 usd
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5900000 usd
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5600000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
45800000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36600000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
205400000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
210500000 usd
CY2024Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
220200000 usd
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
4600000 usd
CY2024Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2800000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3400000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
638900000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
640300000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
9000000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
10100000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
280000000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
65000000 usd
CY2024Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
10700000 usd
CY2024Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
200000 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2024Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
448400000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
469500000 usd
CY2024Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Contingent Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContingentLiability
1500000 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Contingent Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedContingentLiability
0 usd
CY2023Q4 us-gaap Restructuring Reserve
RestructuringReserve
600000 usd
us-gaap Restructuring Charges
RestructuringCharges
2700000 usd
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
2600000 usd
CY2024Q2 us-gaap Restructuring Reserve
RestructuringReserve
700000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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