$DIOD
DIODES INC /DEL/

2017 Q3 Form 10-Q Financial Statement

#000156459017022306 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $285.2M $250.7M
YoY Change 13.78% 20.01%
Cost Of Revenue $188.9M $170.1M
YoY Change 11.05% 15.52%
Gross Profit $96.35M $80.62M
YoY Change 19.5% 30.81%
Gross Profit Margin 33.78% 32.16%
Selling, General & Admin $43.50M $38.30M
YoY Change 13.58% 10.47%
% of Gross Profit 45.15% 47.51%
Research & Development $20.40M $17.10M
YoY Change 19.3% 24.41%
% of Gross Profit 21.17% 21.21%
Depreciation & Amortization $4.700M $5.100M
YoY Change -7.84% -53.64%
% of Gross Profit 4.88% 6.33%
Operating Expenses $68.60M $60.60M
YoY Change 13.2% 17.3%
Operating Profit $27.75M $20.02M
YoY Change 38.58% 100.77%
Interest Expense -$4.500M -$3.400M
YoY Change 32.35%
% of Operating Profit -16.22% -16.98%
Other Income/Expense, Net $600.0K -$1.000M
YoY Change -160.0% -492.16%
Pretax Income -$27.78M -$7.274M
YoY Change 281.95% -171.12%
Income Tax $5.100M $4.100M
% Of Pretax Income
Net Earnings $14.45M $10.65M
YoY Change 35.71% 275.33%
Net Earnings / Revenue 5.07% 4.25%
Basic Earnings Per Share $0.29 $0.22
Diluted Earnings Per Share $0.29 $0.21
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $214.0M $255.3M
YoY Change -16.18% 19.69%
Cash & Equivalents $201.2M $220.5M
Short-Term Investments $12.70M $34.80M
Other Short-Term Assets $45.60M $40.70M
YoY Change 12.04% -17.94%
Inventory $211.4M $204.3M
Prepaid Expenses
Receivables $230.5M $239.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $701.5M $739.5M
YoY Change -5.14% 11.52%
LONG-TERM ASSETS
Property, Plant & Equipment $446.1M $415.6M
YoY Change 7.32% 12.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $98.40M $85.40M
YoY Change 15.22% 50.35%
Total Long-Term Assets $839.1M $812.9M
YoY Change 3.22% 47.78%
TOTAL ASSETS
Total Short-Term Assets $701.5M $739.5M
Total Long-Term Assets $839.1M $812.9M
Total Assets $1.541B $1.552B
YoY Change -0.76% 27.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $111.7M $90.50M
YoY Change 23.43% 4.76%
Accrued Expenses $94.40M $71.80M
YoY Change 31.48% -21.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $19.10M $10.30M
YoY Change 85.44%
Total Short-Term Liabilities $225.2M $172.6M
YoY Change 30.48% -8.01%
LONG-TERM LIABILITIES
Long-Term Debt $306.7M $407.1M
YoY Change -24.66% 335.4%
Other Long-Term Liabilities $85.20M $97.20M
YoY Change -12.35% 30.31%
Total Long-Term Liabilities $391.9M $504.3M
YoY Change -22.29% 576.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $225.2M $172.6M
Total Long-Term Liabilities $391.9M $504.3M
Total Liabilities $687.3M $753.8M
YoY Change -8.82% 111.91%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $853.2M $798.6M
YoY Change
Total Liabilities & Shareholders Equity $1.541B $1.552B
YoY Change -0.76% 27.96%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $14.45M $10.65M
YoY Change 35.71% 275.33%
Depreciation, Depletion And Amortization $4.700M $5.100M
YoY Change -7.84% -53.64%
Cash From Operating Activities $40.90M $33.00M
YoY Change 23.94% -27.47%
INVESTING ACTIVITIES
Capital Expenditures -$38.00M -$18.00M
YoY Change 111.11% -62.58%
Acquisitions
YoY Change
Other Investing Activities $3.200M $8.300M
YoY Change -61.45% 48.21%
Cash From Investing Activities -$34.80M -$9.600M
YoY Change 262.5% -77.41%
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 2.900M
YoY Change -2665.52% -146.03%
NET CHANGE
Cash From Operating Activities 40.90M 33.00M
Cash From Investing Activities -34.80M -9.600M
Cash From Financing Activities -74.40M 2.900M
Net Change In Cash -68.30M 26.30M
YoY Change -359.7% -896.97%
FREE CASH FLOW
Cash From Operating Activities $40.90M $33.00M
Capital Expenditures -$38.00M -$18.00M
Free Cash Flow $78.90M $51.00M
YoY Change 54.71% -45.51%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
94436000
CY2016Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
71562000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2528000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
395000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
9000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
99000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
435000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
533000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-97846000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-54288000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-46576000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2091000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
218435000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
220526000
diod Payments To Proceeds From Capital Expenditure Incurred But Not Yet Paid
PaymentsToProceedsFromCapitalExpenditureIncurredButNotYetPaid
-10919000
diod Payments To Proceeds From Capital Expenditure Incurred But Not Yet Paid
PaymentsToProceedsFromCapitalExpenditureIncurredButNotYetPaid
7459000
us-gaap Earnings Per Share Reconciliation Disclosure
EarningsPerShareReconciliationDisclosure
Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive.
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1900000
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
700000
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1108000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1428000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1069000
CY2017Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
59403000
CY2017Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
50881000
CY2016Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
45408000
CY2017Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
101128000
CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
81145000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
4126000
CY2017Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
234533000
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
232747000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
69247000
CY2016Q4 diod Finite Lived Intangible Assets Cumulative Currency Translation
FiniteLivedIntangibleAssetsCumulativeCurrencyTranslation
8442000
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
155058000
CY2016Q4 diod Indefinite Lived Intangible Assets Excluding Goodwill Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillGross
21003000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-27783000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-7274000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-63026000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-25520000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
47613000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
104821000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
47906000
CY2017Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.255
CY2016Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.262
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.279
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.265
CY2017Q3 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
733000
CY2016Q3 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
2992000
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
2553000
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
5099000
CY2017Q3 diod Income Tax Holiday Income Tax Benefits Per Share Basic
IncomeTaxHolidayIncomeTaxBenefitsPerShareBasic
0.01
CY2016Q3 diod Income Tax Holiday Income Tax Benefits Per Share Basic
IncomeTaxHolidayIncomeTaxBenefitsPerShareBasic
0.06
diod Income Tax Holiday Income Tax Benefits Per Share Basic
IncomeTaxHolidayIncomeTaxBenefitsPerShareBasic
0.05
diod Income Tax Holiday Income Tax Benefits Per Share Basic
IncomeTaxHolidayIncomeTaxBenefitsPerShareBasic
0.10
CY2017Q3 diod Income Tax Holiday Income Tax Benefits Per Share Diluted
IncomeTaxHolidayIncomeTaxBenefitsPerShareDiluted
0.01
CY2016Q3 diod Income Tax Holiday Income Tax Benefits Per Share Diluted
IncomeTaxHolidayIncomeTaxBenefitsPerShareDiluted
0.06
diod Income Tax Holiday Income Tax Benefits Per Share Diluted
IncomeTaxHolidayIncomeTaxBenefitsPerShareDiluted
0.05
diod Income Tax Holiday Income Tax Benefits Per Share Diluted
IncomeTaxHolidayIncomeTaxBenefitsPerShareDiluted
0.10
CY2017Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2016Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
31500000
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company files income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for tax years before 2007, or for the 2010 tax year. The Company is no longer subject to China income tax examinations by tax authorities for tax years before 2005. With respect to state and local jurisdictions and countries outside of the U.S. (other than China), with limited exceptions, the Company is no longer subject to income tax audits for years before 2006. Although the outcome of tax audits is always uncertain, the Company believes that adequate amounts of tax, interest and penalties, if any, have been provided for in the Company’s reserve for any adjustments that may result from tax audits. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in interest expense.
us-gaap Significant Change In Unrecognized Tax Benefits Nature Of Event
SignificantChangeInUnrecognizedTaxBenefitsNatureOfEvent
It is reasonably possible that the amount of the unrecognized benefit with respect to certain of the Company’s unrecognized tax positions will significantly increase or decrease within the next 12 months.
us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Estimated Range Not Possible
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleEstimatedRangeNotPossible
At this time, an estimate of the range of the reasonably possible outcomes cannot be made.
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4962000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3757000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13927000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12837000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6900000
CY2017Q3 diod Customer Concentration Number Of Customers
CustomerConcentrationNumberOfCustomers
1
diod Customer Concentration Number Of Customers Did Not Equal Ten Percent Or Greater Of Revenue Or Accounts Receivable
CustomerConcentrationNumberOfCustomersDidNotEqualTenPercentOrGreaterOfRevenueOrAccountsReceivable
1
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
415618000
CY2016Q3 us-gaap Assets
Assets
1552440000
CY2017Q3 diod Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.00
CY2016Q3 diod Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.00
diod Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.00
diod Sales Revenue Net Percentage
SalesRevenueNetPercentage
1.00
CY2017Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
36800000
CY2017Q3 diod Foreign Currency Exchange Hedging Contracts Amount
ForeignCurrencyExchangeHedgingContractsAmount
40200000
us-gaap Description Of Foreign Currency Exposure
DescriptionOfForeignCurrencyExposure
At September 30, 2017 the Company had approximately $40.2 million in foreign currency hedges, which are intended to offset approximately 25% of the Company's estimated foreign currency exposure
diod Percentage Of Estimated Foreign Currency Exposure Offset By Foreign Currency Hedges
PercentageOfEstimatedForeignCurrencyExposureOffsetByForeignCurrencyHedges
0.25
CY2017Q3 us-gaap Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
500000
us-gaap Foreign Currency Transaction Gain Before Tax
ForeignCurrencyTransactionGainBeforeTax
500000

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