2017 Q2 Form 10-Q Financial Statement

#000155279717000063 Filed on August 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $126.8M $111.9M
YoY Change 13.34% -35.02%
Cost Of Revenue $85.04M $73.10M
YoY Change 16.33% -44.83%
Gross Profit $41.73M $38.75M
YoY Change 7.68% -2.24%
Gross Profit Margin 32.92% 34.65%
Selling, General & Admin $2.656M $2.698M
YoY Change -1.56% -9.52%
% of Gross Profit 6.36% 6.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.700M $4.800M
YoY Change 18.75% 2.13%
% of Gross Profit 13.66% 12.39%
Operating Expenses $2.656M $2.698M
YoY Change -1.56% -9.52%
Operating Profit $23.37M $22.51M
YoY Change 3.82% 6.5%
Interest Expense $5.462M $3.284M
YoY Change 66.32% 25.54%
% of Operating Profit 23.37% 14.59%
Other Income/Expense, Net
YoY Change
Pretax Income $19.09M $19.02M
YoY Change 0.33% 3.53%
Income Tax $108.0K $129.0K
% Of Pretax Income 0.57% 0.68%
Net Earnings $18.98M $18.89M
YoY Change 0.44% 3.18%
Net Earnings / Revenue 14.97% 16.89%
Basic Earnings Per Share
Diluted Earnings Per Share $778.7K $774.6K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.900M $0.00
YoY Change -100.0%
Cash & Equivalents $4.899M $0.00
Short-Term Investments
Other Short-Term Assets $1.388M $652.0K
YoY Change 112.88% 34.43%
Inventory $6.522M $9.759M
Prepaid Expenses
Receivables $18.27M $17.22M
Other Receivables $0.00 $0.00
Total Short-Term Assets $35.24M $28.85M
YoY Change 22.14% -34.52%
LONG-TERM ASSETS
Property, Plant & Equipment $245.6M $247.1M
YoY Change -0.61% -3.18%
Goodwill $12.20M $12.20M
YoY Change 0.0% 4.71%
Intangibles $13.89M $14.95M
YoY Change -7.11% -6.23%
Long-Term Investments $104.7M $73.36M
YoY Change 42.66% 297.15%
Other Assets $3.926M $5.267M
YoY Change -25.46% -20.45%
Total Long-Term Assets $380.3M $352.9M
YoY Change 7.76% 14.61%
TOTAL ASSETS
Total Short-Term Assets $35.24M $28.85M
Total Long-Term Assets $380.3M $352.9M
Total Assets $415.5M $381.8M
YoY Change 8.84% 8.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.18M $5.567M
YoY Change 82.79% -62.27%
Accrued Expenses $9.100M $5.700M
YoY Change 59.65% -40.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.25M $13.58M
YoY Change 56.46% -64.82%
LONG-TERM LIABILITIES
Long-Term Debt $396.9M $362.6M
YoY Change 9.46% 14.42%
Other Long-Term Liabilities $14.55M $11.26M
YoY Change 29.19% 30.77%
Total Long-Term Liabilities $415.4M $377.4M
YoY Change 10.04% 14.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.25M $13.58M
Total Long-Term Liabilities $415.4M $377.4M
Total Liabilities $436.6M $391.0M
YoY Change 11.66% 6.32%
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 -$21.10M -$9.300M
YoY Change
Total Liabilities & Shareholders Equity $415.5M $381.8M
YoY Change 8.84% 8.46%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $18.98M $18.89M
YoY Change 0.44% 3.18%
Depreciation, Depletion And Amortization $5.700M $4.800M
YoY Change 18.75% 2.13%
Cash From Operating Activities $23.40M $31.20M
YoY Change -25.0% 1.3%
INVESTING ACTIVITIES
Capital Expenditures -$2.100M -$1.100M
YoY Change 90.91% -118.45%
Acquisitions
YoY Change
Other Investing Activities -$700.0K -$18.30M
YoY Change -96.17% 40.77%
Cash From Investing Activities -$2.900M -$19.30M
YoY Change -84.97% 2.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.70M -12.10M
YoY Change 29.75% 2.54%
NET CHANGE
Cash From Operating Activities 23.40M 31.20M
Cash From Investing Activities -2.900M -19.30M
Cash From Financing Activities -15.70M -12.10M
Net Change In Cash 4.800M -200.0K
YoY Change -2500.0% -300.0%
FREE CASH FLOW
Cash From Operating Activities $23.40M $31.20M
Capital Expenditures -$2.100M -$1.100M
Free Cash Flow $25.50M $32.30M
YoY Change -21.05% 30.04%

Facts In Submission

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3284000 USD
us-gaap Interest Expense
InterestExpense
6483000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
5462000 USD
us-gaap Interest Expense
InterestExpense
9533000 USD
us-gaap Interest Paid
InterestPaid
5855000 USD
us-gaap Interest Paid
InterestPaid
6940000 USD
CY2016Q4 us-gaap Inventory Net
InventoryNet
8875000 USD
CY2017Q2 us-gaap Inventory Net
InventoryNet
6522000 USD
CY2016Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1500000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3100000 USD
CY2017Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1400000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2700000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
415547000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
415532000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
20729000 USD
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
21251000 USD
CY2016Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
408102000 USD
CY2017Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
415360000 USD
CY2016Q2 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.020
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.020
CY2017Q2 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.020
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.020
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.615
CY2016Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
15310000 USD
us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
30119000 USD
CY2017Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
17175000 USD
us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
33962000 USD
CY2016Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
392600000 USD
CY2017Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
396897000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-21670000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-33767000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-35919000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-8804000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
57589000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
47411000 USD
us-gaap Net Income Loss
NetIncomeLoss
34341000 USD
us-gaap Net Income Loss
NetIncomeLoss
33572000 USD
CY2016Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
2791000 USD
us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
5044000 USD
CY2017Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
4552000 USD
us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
8661000 USD
CY2016Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
16102000 USD
us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
29297000 USD
CY2017Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
14425000 USD
us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
24911000 USD
CY2016Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
8730000 USD
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
19194000 USD
CY2017Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
9966000 USD
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
20324000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22512000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
41486000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
23371000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
41843000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1071000 USD
CY2017Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1388000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4774000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3926000 USD
CY2016Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2925000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4350000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
11730000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
14545000 USD
CY2016Q4 us-gaap Partners Capital
PartnersCapital
-13284000 USD
CY2017Q2 us-gaap Partners Capital
PartnersCapital
-21079000 USD
us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
41819000 USD
us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
364000 USD
CY2016Q4 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
24825109 shares
CY2017Q2 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
24858629 shares
us-gaap Partners Capital Account Units Unitbased Compensation
PartnersCapitalAccountUnitsUnitbasedCompensation
32850 shares
us-gaap Partners Capital Other
PartnersCapitalOther
21000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5816000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
33119000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2937000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2975000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5867000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
248112000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
157850000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
139400000 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
14000 USD
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
21000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
175000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
342407000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
347303000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
251029000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
245619000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
579000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
601000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
146900000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
377500000 USD
CY2016Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
36694000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
75454000 USD
CY2017Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
39824000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
76443000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
111853000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
215909000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
126769000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
256242000 USD
CY2016Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
75159000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
140455000 USD
CY2017Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
86945000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
179799000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2698000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5611000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2656000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5504000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
233000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
364000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4841000 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
4714000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
808000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-839000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-2806000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-9235000 USD
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 &amp; 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>
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>

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