2017 Q1 Form 10-Q Financial Statement

#000085277217000050 Filed on May 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $127.9M $124.6M
YoY Change 2.62%
Cost Of Revenue $77.84M $74.11M
YoY Change 5.02%
Gross Profit $50.08M $50.53M
YoY Change -0.9%
Gross Profit Margin 39.15% 40.54%
Selling, General & Admin $37.10M $36.60M
YoY Change 1.37%
% of Gross Profit 74.09% 72.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.736M $5.493M
YoY Change 4.42%
% of Gross Profit 11.45% 10.87%
Operating Expenses $42.80M $42.00M
YoY Change 1.9%
Operating Profit $16.30M $18.23M
YoY Change -10.6%
Interest Expense $3.541M $2.774M
YoY Change 27.65%
% of Operating Profit 21.72% 15.21%
Other Income/Expense, Net $357.0K -$27.00K
YoY Change -1422.22%
Pretax Income $13.12M $15.43M
YoY Change -15.0%
Income Tax $4.744M $5.478M
% Of Pretax Income 36.17% 35.5%
Net Earnings $8.373M $9.954M
YoY Change -15.88%
Net Earnings / Revenue 6.55% 7.99%
Basic Earnings Per Share $0.12 $0.13
Diluted Earnings Per Share $0.11 $0.13
COMMON SHARES
Basic Shares Outstanding 71.00M shares 77.06M shares
Diluted Shares Outstanding 73.24M shares 78.88M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.700M $4.100M
YoY Change -58.54%
Cash & Equivalents $1.740M $4.137M
Short-Term Investments
Other Short-Term Assets $8.100M $9.900M
YoY Change -18.18%
Inventory $3.088M $2.861M
Prepaid Expenses
Receivables $9.700M $9.700M
Other Receivables $9.000M $4.100M
Total Short-Term Assets $31.60M $30.63M
YoY Change 3.14%
LONG-TERM ASSETS
Property, Plant & Equipment $133.1M $122.4M
YoY Change 8.74%
Goodwill $35.61M $33.67M
YoY Change 5.76%
Intangibles $54.70M $46.31M
YoY Change 18.12%
Long-Term Investments
YoY Change
Other Assets $27.48M $24.97M
YoY Change 10.03%
Total Long-Term Assets $276.6M $258.2M
YoY Change 7.11%
TOTAL ASSETS
Total Short-Term Assets $31.60M $30.63M
Total Long-Term Assets $276.6M $258.2M
Total Assets $308.2M $288.8M
YoY Change 6.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.03M $15.98M
YoY Change 31.59%
Accrued Expenses $30.60M $39.50M
YoY Change -22.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.300M $3.300M
YoY Change 0.0%
Total Short-Term Liabilities $77.07M $79.53M
YoY Change -3.09%
LONG-TERM LIABILITIES
Long-Term Debt $230.0M $201.0M
YoY Change 14.43%
Other Long-Term Liabilities $26.95M $33.17M
YoY Change -18.76%
Total Long-Term Liabilities $295.8M $266.7M
YoY Change 10.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $77.07M $79.53M
Total Long-Term Liabilities $295.8M $266.7M
Total Liabilities $372.8M $346.3M
YoY Change 7.68%
SHAREHOLDERS EQUITY
Retained Earnings -$366.1M -$392.3M
YoY Change -6.69%
Common Stock $588.4M $568.2M
YoY Change 3.56%
Preferred Stock
YoY Change
Treasury Stock (at cost) $285.1M $204.9M
YoY Change 39.12%
Treasury Stock Shares 37.30M shares 30.06M shares
Shareholders Equity -$64.68M -$57.43M
YoY Change
Total Liabilities & Shareholders Equity $308.2M $288.8M
YoY Change 6.69%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $8.373M $9.954M
YoY Change -15.88%
Depreciation, Depletion And Amortization $5.736M $5.493M
YoY Change 4.42%
Cash From Operating Activities $8.021M $8.669M
YoY Change -7.47%
INVESTING ACTIVITIES
Capital Expenditures $3.017M $3.831M
YoY Change -21.25%
Acquisitions $1.476M
YoY Change
Other Investing Activities -$3.900M $300.0K
YoY Change -1400.0%
Cash From Investing Activities -$6.963M -$3.544M
YoY Change 96.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.74M $3.832M
YoY Change 206.42%
Debt Paid & Issued, Net $826.0K $756.0K
YoY Change 9.26%
Cash From Financing Activities -$1.910M -$2.659M
YoY Change -28.17%
NET CHANGE
Cash From Operating Activities $8.021M $8.669M
Cash From Investing Activities -$6.963M -$3.544M
Cash From Financing Activities -$1.910M -$2.659M
Net Change In Cash -$852.0K $2.466M
YoY Change -134.55%
FREE CASH FLOW
Cash From Operating Activities $8.021M $8.669M
Capital Expenditures $3.017M $3.831M
Free Cash Flow $5.004M $4.838M
YoY Change 3.43%

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CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2659000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1910000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3544000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6963000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8669000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8021000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
9954000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
8373000 USD
CY2016Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
2804000 USD
CY2017Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
4978000 USD
CY2016Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
732000 USD
CY2017Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
638000 USD
CY2016Q1 us-gaap Notes Issued1
NotesIssued1
0 USD
CY2017Q1 us-gaap Notes Issued1
NotesIssued1
1750000 USD
CY2017Q1 us-gaap Number Of Restaurants
NumberOfRestaurants
1731 restaurant
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
18233000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
16301000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
27797000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
27479000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-4680000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-609000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-13000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-14000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-8000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-9000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
108000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
23000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-388000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-912000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-4693000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-623000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-2997000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-397000 USD
CY2016Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
12197000 USD
CY2017Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
12571000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
64796000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
52719000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
26734000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
26945000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-27000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
357000 USD
CY2016Q1 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
0 USD
CY2017Q1 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
2124000 USD
CY2016Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
125000 USD
CY2017Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-783000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
10157000 USD
CY2017Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
10510000 USD
CY2016Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3832000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11742000 USD
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
875000 USD
CY2016Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
219000 USD
CY2017Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
1010000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3831000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3017000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9408000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6277000 USD
CY2016Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
401000 USD
CY2017Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
612000 USD
CY2016Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
18500000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
31000000 USD
CY2016Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-4361000 USD
CY2017Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-972000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1581000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
252000 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
290000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
130000 USD
CY2017Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
500000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
133102000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
133141000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
19841000 USD
CY2017Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
18738000 USD
CY2016Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
12500000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
19500000 USD
CY2016Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
756000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
826000 USD
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
519000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
99000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
1896000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
1080000 USD
CY2017Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
246000 USD
CY2017Q1 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
834000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-382843000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-366050000 USD
CY2016Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
90386000 USD
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
93779000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
124642000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
127910000 USD
CY2016Q4 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
14853000 USD
CY2017Q1 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
14347000 USD
CY2016Q1 us-gaap Severance Costs1
SeveranceCosts1
368000 USD
CY2017Q1 us-gaap Severance Costs1
SeveranceCosts1
68000 USD
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1948000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1973000 USD
CY2016Q1 us-gaap Stock Issued1
StockIssued1
3497000 USD
CY2017Q1 us-gaap Stock Issued1
StockIssued1
4946000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2017Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
130000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-71112000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
-64682000 USD
CY2016Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
194772000 USD
CY2017Q1 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
220378000 USD
CY2016Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
400000 USD
CY2017Q1 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
300000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
7407000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
7192000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
35757000 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
37295000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
265884000 USD
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
285060000 USD
CY2017Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
12292000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78877000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73241000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77060000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71004000 shares

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