2017 Q1 Form 10-Q Financial Statement
#000155279717000017 Filed on May 09, 2017
Income Statement
Concept | 2017 Q1 | 2016 Q1 | 2015 Q3 |
---|---|---|---|
Revenue | $129.5M | $104.1M | $165.1M |
YoY Change | 24.43% | -27.49% | -27.6% |
Cost Of Revenue | $92.59M | $66.75M | $124.4M |
YoY Change | 38.71% | -38.42% | -35.93% |
Gross Profit | $36.88M | $37.30M | $40.71M |
YoY Change | -1.13% | 6.26% | 20.07% |
Gross Profit Margin | 28.49% | 35.85% | 24.66% |
Selling, General & Admin | $2.848M | $2.913M | $2.703M |
YoY Change | -2.23% | -14.55% | 10.19% |
% of Gross Profit | 7.72% | 7.81% | 6.64% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $5.193M | $4.996M | $4.600M |
YoY Change | 3.94% | 11.02% | 21.05% |
% of Gross Profit | 14.08% | 13.39% | 11.3% |
Operating Expenses | $2.848M | $2.913M | $2.703M |
YoY Change | -2.23% | -14.55% | 10.19% |
Operating Profit | $18.47M | $18.97M | $21.85M |
YoY Change | -2.65% | 15.6% | 26.71% |
Interest Expense | $4.071M | $3.199M | $2.843M |
YoY Change | 27.26% | 48.31% | 27.72% |
% of Operating Profit | 22.04% | 16.86% | 13.01% |
Other Income/Expense, Net | |||
YoY Change | |||
Pretax Income | $14.65M | $15.55M | $18.71M |
YoY Change | -5.79% | 9.04% | 24.61% |
Income Tax | $51.00K | $98.00K | $109.0K |
% Of Pretax Income | 0.35% | 0.63% | 0.58% |
Net Earnings | $14.60M | $15.45M | $18.60M |
YoY Change | -5.52% | 10.32% | 25.36% |
Net Earnings / Revenue | 11.27% | 14.85% | 11.27% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $598.4K | $631.1K | $762.3K |
COMMON SHARES | |||
Basic Shares Outstanding | |||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 Q1 | 2016 Q1 | 2015 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $0.00 | $200.0K | $0.00 |
YoY Change | -100.0% | -100.0% | |
Cash & Equivalents | $33.00K | $204.0K | $204.0K |
Short-Term Investments | |||
Other Short-Term Assets | $804.0K | $717.0K | $421.0K |
YoY Change | 12.13% | 96.98% | -39.86% |
Inventory | $6.328M | $6.715M | $5.018M |
Prepaid Expenses | |||
Receivables | $23.81M | $29.17M | $37.09M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $30.98M | $40.12M | $42.56M |
YoY Change | -22.79% | 5.66% | -16.24% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $248.9M | $250.7M | $255.2M |
YoY Change | -0.72% | -1.16% | 16.99% |
Goodwill | $12.20M | $12.20M | $11.65M |
YoY Change | 0.0% | 4.71% | 0.0% |
Intangibles | $14.15M | $15.22M | $15.72M |
YoY Change | -6.99% | -6.39% | 35.7% |
Long-Term Investments | $103.0M | $55.27M | $30.46M |
YoY Change | 86.32% | 818.38% | |
Other Assets | $4.385M | $5.666M | $6.255M |
YoY Change | -22.61% | -18.94% | 55.44% |
Total Long-Term Assets | $382.6M | $339.1M | $319.2M |
YoY Change | 12.84% | 15.1% | 30.11% |
TOTAL ASSETS | |||
Total Short-Term Assets | $30.98M | $40.12M | $42.56M |
Total Long-Term Assets | $382.6M | $339.1M | $319.2M |
Total Assets | $413.6M | $379.2M | $361.8M |
YoY Change | 9.07% | 14.03% | 22.16% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $13.12M | $8.165M | $12.44M |
YoY Change | 60.65% | -42.57% | -47.46% |
Accrued Expenses | $6.900M | $6.800M | $7.400M |
YoY Change | 1.47% | -6.85% | -41.73% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $22.40M | $18.02M | $34.33M |
YoY Change | 24.25% | -31.16% | -25.07% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $392.0M | $357.9M | $325.2M |
YoY Change | 9.53% | 13.12% | 41.39% |
Other Long-Term Liabilities | $14.35M | $10.68M | $10.29M |
YoY Change | 34.34% | 57.29% | 90.09% |
Total Long-Term Liabilities | $410.2M | $372.2M | $339.1M |
YoY Change | 10.22% | 13.81% | 41.85% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $22.40M | $18.02M | $34.33M |
Total Long-Term Liabilities | $410.2M | $372.2M | $339.1M |
Total Liabilities | $432.6M | $390.2M | $373.5M |
YoY Change | 10.87% | 10.48% | 31.09% |
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 | -$19.00M | -$11.00M | -$11.70M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $413.6M | $379.2M | $361.8M |
YoY Change | 9.07% | 14.03% | 22.16% |
Cashflow Statement
Concept | 2017 Q1 | 2016 Q1 | 2015 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $14.60M | $15.45M | $18.60M |
YoY Change | -5.52% | 10.32% | 25.36% |
Depreciation, Depletion And Amortization | $5.193M | $4.996M | $4.600M |
YoY Change | 3.94% | 11.02% | 21.05% |
Cash From Operating Activities | $23.50M | $26.40M | $20.20M |
YoY Change | -10.98% | 67.09% | 1.0% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $3.764M | $1.911M | -$4.100M |
YoY Change | 96.96% | -74.77% | -595.77% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$1.700M | -$14.60M | -$12.30M |
YoY Change | -88.36% | 1360.0% | |
Cash From Investing Activities | -$5.400M | -$16.60M | -$16.40M |
YoY Change | -67.47% | 93.02% | 2242.86% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -18.10M | -9.600M | -3.900M |
YoY Change | 88.54% | 6.67% | -81.34% |
NET CHANGE | |||
Cash From Operating Activities | 23.50M | 26.40M | 20.20M |
Cash From Investing Activities | -5.400M | -16.60M | -16.40M |
Cash From Financing Activities | -18.10M | -9.600M | -3.900M |
Net Change In Cash | 0.000 | 200.0K | -100.0K |
YoY Change | -100.0% | -111.11% | -93.75% |
FREE CASH FLOW | |||
Cash From Operating Activities | $23.50M | $26.40M | $20.20M |
Capital Expenditures | $3.764M | $1.911M | -$4.100M |
Free Cash Flow | $19.74M | $24.49M | $24.30M |
YoY Change | -19.41% | 197.67% | 26.74% |
Facts In Submission
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Goodwill
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CY2016Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
15546000 | USD |
CY2017Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
14646000 | USD |
CY2016Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-229000 | USD |
CY2017Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
245000 | USD |
CY2016Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
98000 | USD |
CY2017Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
51000 | USD |
CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
2153000 | USD |
CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
2296000 | USD |
CY2016Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-5882000 | USD |
CY2017Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4610000 | USD |
CY2016Q1 | us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
7356000 | USD |
CY2017Q1 | us-gaap |
Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
|
-3149000 | USD |
CY2016Q1 | us-gaap |
Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
|
-4559000 | USD |
CY2017Q1 | us-gaap |
Increase Decrease In Inventories And Other Operating Assets
IncreaseDecreaseInInventoriesAndOtherOperatingAssets
|
-2814000 | USD |
CY2016Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
|
-163000 | USD |
CY2017Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
|
87000 | USD |
CY2016Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
14420000 | USD |
CY2017Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
14154000 | USD |
CY2016Q1 | us-gaap |
Interest Expense
InterestExpense
|
3199000 | USD |
CY2017Q1 | us-gaap |
Interest Expense
InterestExpense
|
4071000 | USD |
CY2016Q1 | us-gaap |
Interest Paid
InterestPaid
|
2890000 | USD |
CY2017Q1 | us-gaap |
Interest Paid
InterestPaid
|
3693000 | USD |
CY2016Q4 | us-gaap |
Inventory Net
InventoryNet
|
8875000 | USD |
CY2017Q1 | us-gaap |
Inventory Net
InventoryNet
|
6328000 | USD |
CY2016Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
1600000 | USD |
CY2017Q1 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
1300000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
415547000 | USD |
CY2017Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
413603000 | USD |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
20729000 | USD |
CY2017Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
22395000 | USD |
CY2016Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
408102000 | USD |
CY2017Q1 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
410193000 | USD |
CY2016Q1 | us-gaap |
Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
|
0.020 | |
CY2017Q1 | us-gaap |
Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
|
0.020 | |
CY2017Q1 | us-gaap |
Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
|
0.612 | |
CY2016Q1 | us-gaap |
Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
|
14809000 | USD |
CY2017Q1 | us-gaap |
Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
|
16787000 | USD |
CY2016Q4 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
392600000 | USD |
CY2017Q1 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
392000000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-9615000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-18086000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-16555000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-5414000 | USD |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
26374000 | USD |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
23474000 | USD |
CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
15448000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
14595000 | USD |
CY2016Q1 | us-gaap |
Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
|
2253000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
|
4109000 | USD |
CY2016Q1 | us-gaap |
Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
|
13195000 | USD |
CY2017Q1 | us-gaap |
Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
|
10486000 | USD |
CY2016Q1 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
10464000 | USD |
CY2017Q1 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
10358000 | USD |
CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
18974000 | USD |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
18472000 | USD |
CY2016Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1071000 | USD |
CY2017Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
804000 | USD |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
4774000 | USD |
CY2017Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
4385000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2925000 | USD |
CY2017Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2315000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
11730000 | USD |
CY2017Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
14348000 | USD |
CY2016Q4 | us-gaap |
Partners Capital
PartnersCapital
|
-13284000 | USD |
CY2017Q1 | us-gaap |
Partners Capital
PartnersCapital
|
-18985000 | USD |
CY2017Q1 | us-gaap |
Partners Capital Account Distributions
PartnersCapitalAccountDistributions
|
20537000 | USD |
CY2017Q1 | us-gaap |
Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
|
174000 | USD |
CY2016Q4 | us-gaap |
Partners Capital Account Units
PartnersCapitalAccountUnits
|
24825109 | shares |
CY2017Q1 | us-gaap |
Partners Capital Account Units
PartnersCapitalAccountUnits
|
24825109 | shares |
CY2016Q1 | us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
14819000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
1650000 | USD |
CY2016Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1911000 | USD |
CY2017Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3764000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
84400000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
69100000 | USD |
CY2016Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
175000 | USD |
CY2017Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
342407000 | USD |
CY2017Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
345172000 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
251029000 | USD |
CY2017Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
248909000 | USD |
CY2016Q1 | us-gaap |
Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
|
196000 | USD |
CY2017Q1 | us-gaap |
Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
|
280000 | USD |
CY2016Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
78100000 | USD |
CY2017Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
69700000 | USD |
CY2016Q1 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
38760000 | USD |
CY2017Q1 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
36619000 | USD |
CY2016Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
104056000 | USD |
CY2017Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
129473000 | USD |
CY2016Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
65296000 | USD |
CY2017Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
92854000 | USD |
CY2016Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2913000 | USD |
CY2017Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2848000 | USD |
CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
108000 | USD |
CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
174000 | USD |
CY2016Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
4841000 | USD |
CY2017Q1 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
4535000 | USD |
CY2016Q1 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
-1647000 | USD |
CY2017Q1 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
-6429000 | USD |
CY2017Q1 | us-gaap |
Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Arial Narrow;font-size:10pt;">In accordance with ASC 360, </font><font style="font-family:Arial Narrow;font-size:10pt;font-style:italic;">Property, Plant & Equipment</font><font style="font-family:Arial Narrow;font-size:10pt;">, we evaluate the realizability of property, plant and equipment as events occur that might indicate potential impairment.</font></div></div> | |
CY2017Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Arial Narrow;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </font></div></div> |