2018 Q2 Form 10-Q Financial Statement

#000155279718000075 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $166.3M $126.8M
YoY Change 31.17% 13.34%
Cost Of Revenue $126.7M $85.04M
YoY Change 48.99% 16.33%
Gross Profit $39.58M $41.73M
YoY Change -5.15% 7.68%
Gross Profit Margin 23.8% 32.92%
Selling, General & Admin $3.747M $2.656M
YoY Change 41.08% -1.56%
% of Gross Profit 9.47% 6.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.019M $5.700M
YoY Change 23.14% 18.75%
% of Gross Profit 17.73% 13.66%
Operating Expenses $14.11M $2.656M
YoY Change 431.4% -1.56%
Operating Profit $34.71M $23.37M
YoY Change 48.52% 3.82%
Interest Expense $10.93M $5.462M
YoY Change 100.04% 66.32%
% of Operating Profit 31.48% 23.37%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $25.68M $19.09M
YoY Change 34.57% 0.33%
Income Tax $101.0K $108.0K
% Of Pretax Income 0.39% 0.57%
Net Earnings $25.58M $18.98M
YoY Change 34.81% 0.44%
Net Earnings / Revenue 15.38% 14.97%
Basic Earnings Per Share
Diluted Earnings Per Share $1.049M $778.7K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.200M $4.900M
YoY Change 6.12%
Cash & Equivalents $5.177M $4.899M
Short-Term Investments
Other Short-Term Assets $697.0K $1.388M
YoY Change -49.78% 112.88%
Inventory $12.72M $6.522M
Prepaid Expenses
Receivables $21.88M $18.27M
Other Receivables $0.00 $0.00
Total Short-Term Assets $50.12M $35.24M
YoY Change 42.24% 22.14%
LONG-TERM ASSETS
Property, Plant & Equipment $319.3M $245.6M
YoY Change 30.01% -0.61%
Goodwill $12.20M $12.20M
YoY Change 0.0% 0.0%
Intangibles $157.6M $13.89M
YoY Change 1035.1% -7.11%
Long-Term Investments $106.4M $104.7M
YoY Change 1.69% 42.66%
Other Assets $4.617M $3.926M
YoY Change 17.6% -25.46%
Total Long-Term Assets $600.2M $380.3M
YoY Change 57.83% 7.76%
TOTAL ASSETS
Total Short-Term Assets $50.12M $35.24M
Total Long-Term Assets $600.2M $380.3M
Total Assets $650.3M $415.5M
YoY Change 56.51% 8.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.319M $10.18M
YoY Change -8.42% 82.79%
Accrued Expenses $9.900M $9.100M
YoY Change 8.79% 59.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.13M $21.25M
YoY Change -0.57% 56.46%
LONG-TERM LIABILITIES
Long-Term Debt $737.1M $396.9M
YoY Change 85.71% 9.46%
Other Long-Term Liabilities $16.04M $14.55M
YoY Change 10.24% 29.19%
Total Long-Term Liabilities $758.2M $415.4M
YoY Change 82.54% 10.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.13M $21.25M
Total Long-Term Liabilities $758.2M $415.4M
Total Liabilities $779.3M $436.6M
YoY Change 78.49% 11.66%
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 -$129.0M -$21.10M
YoY Change
Total Liabilities & Shareholders Equity $650.3M $415.5M
YoY Change 56.51% 8.84%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $25.58M $18.98M
YoY Change 34.81% 0.44%
Depreciation, Depletion And Amortization $7.019M $5.700M
YoY Change 23.14% 18.75%
Cash From Operating Activities $27.90M $23.40M
YoY Change 19.23% -25.0%
INVESTING ACTIVITIES
Capital Expenditures -$2.700M -$2.100M
YoY Change 28.57% 90.91%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$700.0K
YoY Change -114.29% -96.17%
Cash From Investing Activities -$2.600M -$2.900M
YoY Change -10.34% -84.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.00M -15.70M
YoY Change 59.24% 29.75%
NET CHANGE
Cash From Operating Activities 27.90M 23.40M
Cash From Investing Activities -2.600M -2.900M
Cash From Financing Activities -25.00M -15.70M
Net Change In Cash 300.0K 4.800M
YoY Change -93.75% -2500.0%
FREE CASH FLOW
Cash From Operating Activities $27.90M $23.40M
Capital Expenditures -$2.700M -$2.100M
Free Cash Flow $30.60M $25.50M
YoY Change 20.0% -21.05%

Facts In Submission

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IntangibleAssetsNetExcludingGoodwill
15917000 USD
CY2018Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
157643000 USD
CY2017Q2 us-gaap Interest Expense
InterestExpense
5462000 USD
us-gaap Interest Expense
InterestExpense
9533000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
10926000 USD
us-gaap Interest Expense
InterestExpense
18988000 USD
us-gaap Interest Paid
InterestPaid
6940000 USD
us-gaap Interest Paid
InterestPaid
17890000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
20855000 USD
CY2018Q2 us-gaap Inventory Net
InventoryNet
12715000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
443530000 USD
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
650349000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
31782000 USD
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
21130000 USD
CY2017Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
440973000 USD
CY2018Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
758181000 USD
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 Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.02
CY2018Q2 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
0.02
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
0.614
CY2017Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
17175000 USD
us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
33962000 USD
CY2018Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
18784000 USD
us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
37071000 USD
CY2017Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
422649000 USD
CY2018Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
737139000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-33767000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
170559000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-8303000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-221700000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
46910000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
51643000 USD
us-gaap Net Income Loss
NetIncomeLoss
33572000 USD
us-gaap Net Income Loss
NetIncomeLoss
45577000 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
CY2018Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
6212000 USD
us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
11842000 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
CY2018Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
19370000 USD
us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
33735000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2017Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
9966000 USD
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
20324000 USD
CY2018Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
14917000 USD
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
27494000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
23371000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
41843000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
34710000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
61987000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
0 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
2404000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
783000 USD
CY2018Q2 us-gaap Other Assets Current
OtherAssetsCurrent
697000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3427000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4617000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6033000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
5282000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
14260000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16035000 USD
CY2017Q4 us-gaap Partners Capital
PartnersCapital
-29225000 USD
CY2018Q2 us-gaap Partners Capital
PartnersCapital
-128962000 USD
us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
46831000 USD
us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
302000 USD
CY2017Q4 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
24880237 shares
CY2018Q2 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
24893044 shares
us-gaap Partners Capital Account Units Unitbased Compensation
PartnersCapitalAccountUnitsUnitbasedCompensation
12550 shares
us-gaap Partners Capital Other
PartnersCapitalOther
13000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5816000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
525000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2937000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
172000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
144219000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
0 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
72376000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5867000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5949000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
501000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
660000 USD
us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
21000 USD
us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
13000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
248112000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
139400000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
517000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
356000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
367179000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
446961000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
255068000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
319333000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
601000 USD
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
723000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
377500000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
203000000 USD
CY2017Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
39824000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
76443000 USD
CY2018Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
53080000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
114724000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
87828000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
164646000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
164295000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
153541000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
635164000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1205474000 USD
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2018Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2017Q2 us-gaap Revenues
Revenues
126769000 USD
us-gaap Revenues
Revenues
256242000 USD
CY2018Q2 us-gaap Revenues
Revenues
166280000 USD
us-gaap Revenues
Revenues
334201000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2656000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5504000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3747000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6722000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
364000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
302000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4700000 USD
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
4590000 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
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
598000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-3404000 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 Accounting Standards Codification ("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>

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