2015 Q4 Form 10-Q Financial Statement

#000002799615000031 Filed on October 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $463.5M $439.8M $413.2M
YoY Change 3.34% 6.44% 3.8%
Cost Of Revenue $171.3M $159.3M $150.2M
YoY Change 3.63% 6.1% 5.57%
Gross Profit $292.2M $280.5M $263.1M
YoY Change 3.18% 6.64% 2.81%
Gross Profit Margin 63.05% 63.78% 63.66%
Selling, General & Admin $199.7M $189.6M $175.7M
YoY Change 3.96% 7.96% 1.33%
% of Gross Profit 68.34% 67.6% 66.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.30M $18.75M $15.93M
YoY Change 28.16% 17.74% -2.14%
% of Gross Profit 7.63% 6.69% 6.05%
Operating Expenses $199.7M $191.1M $179.9M
YoY Change 3.96% 6.28% 2.11%
Operating Profit $92.52M $89.37M $76.73M
YoY Change 1.56% 16.47% -3.75%
Interest Expense -$5.000M $4.387M $9.580M
YoY Change -36.71% -54.21% -0.85%
% of Operating Profit -5.4% 4.91% 12.49%
Other Income/Expense, Net $700.0K $919.0K $321.0K
YoY Change 133.33% 186.29% -42.37%
Pretax Income $86.50M $85.90M $67.47M
YoY Change 4.72% 27.31% -4.45%
Income Tax $26.80M $28.98M $23.04M
% Of Pretax Income 30.98% 33.74% 34.15%
Net Earnings $59.71M $56.92M $44.43M
YoY Change 3.01% 28.1% -5.27%
Net Earnings / Revenue 12.88% 12.94% 10.75%
Basic Earnings Per Share $1.21 $1.14 $0.89
Diluted Earnings Per Share $1.20 $1.13 $0.88
COMMON SHARES
Basic Shares Outstanding 49.22M shares 49.40M shares 49.59M shares
Diluted Shares Outstanding 49.76M shares 50.04M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.40M $62.90M $188.0M
YoY Change 1.46% -66.54% 88.0%
Cash & Equivalents $62.43M $62.90M $188.0M
Short-Term Investments
Other Short-Term Assets $42.61M $46.80M $34.29M
YoY Change -15.67% 36.49% -1.6%
Inventory $41.96M $42.20M $36.10M
Prepaid Expenses
Receivables $123.7M $100.4M $91.37M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $324.0M $311.7M $395.0M
YoY Change 1.6% -21.08% 42.12%
LONG-TERM ASSETS
Property, Plant & Equipment $85.73M $82.77M $94.45M
YoY Change -2.16% -12.37% -7.06%
Goodwill $976.4M $883.8M $822.9M
YoY Change 12.44% 7.4% 1.63%
Intangibles $285.3M $227.8M $147.2M
YoY Change 37.71% 54.81% -5.16%
Long-Term Investments $41.70M $43.80M $46.00M
YoY Change -10.32% -4.78% 3.6%
Other Assets $113.8M $127.3M $137.6M
YoY Change -13.54% -7.51% 46.63%
Total Long-Term Assets $1.518B $1.378B $1.276B
YoY Change 11.24% 7.98% 3.63%
TOTAL ASSETS
Total Short-Term Assets $324.0M $311.7M $395.0M
Total Long-Term Assets $1.518B $1.378B $1.276B
Total Assets $1.842B $1.690B $1.671B
YoY Change 9.41% 1.11% 10.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.58M $77.21M $74.28M
YoY Change 0.41% 3.94% 7.85%
Accrued Expenses $228.4M $212.9M $177.1M
YoY Change 4.25% 20.23% 19.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $319.0M $0.00
YoY Change -100.0%
Long-Term Debt Due $1.000M $320.0M $254.3M
YoY Change -99.38% 25.84% 50760.0%
Total Short-Term Liabilities $317.0M $610.2M $505.7M
YoY Change -32.15% 20.67% 132.33%
LONG-TERM LIABILITIES
Long-Term Debt $628.0M $198.5M $390.3M
YoY Change 59.63% -49.14% -39.31%
Other Long-Term Liabilities $36.58M $69.05M $87.35M
YoY Change -56.67% -20.95% 75.85%
Total Long-Term Liabilities $36.58M $69.05M $87.35M
YoY Change -56.67% -20.95% 75.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $317.0M $610.2M $505.7M
Total Long-Term Liabilities $36.58M $69.05M $87.35M
Total Liabilities $353.6M $679.3M $593.0M
YoY Change -35.9% 14.54% 121.84%
SHAREHOLDERS EQUITY
Retained Earnings $751.3M $715.9M $586.7M
YoY Change 19.37% 22.02% 22.77%
Common Stock $49.02M $49.22M $52.52M
YoY Change -10.06% -6.28% -36.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $745.1M $720.1M $604.2M
YoY Change
Total Liabilities & Shareholders Equity $1.842B $1.692B $1.671B
YoY Change 9.11% 1.25% 10.72%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $59.71M $56.92M $44.43M
YoY Change 3.01% 28.1% -5.27%
Depreciation, Depletion And Amortization $22.30M $18.75M $15.93M
YoY Change 28.16% 17.74% -2.14%
Cash From Operating Activities $90.50M $73.10M $77.60M
YoY Change 17.53% -5.8% -5.25%
INVESTING ACTIVITIES
Capital Expenditures -$13.80M -$10.20M -$9.700M
YoY Change 20.0% 5.15% -4.9%
Acquisitions
YoY Change
Other Investing Activities -$161.7M -$10.70M -$2.900M
YoY Change 92.27% 268.97% -77.52%
Cash From Investing Activities -$175.4M -$20.90M -$12.60M
YoY Change 83.47% 65.87% -45.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 86.70M -50.90M -21.30M
YoY Change -181.87% 138.97% 74.59%
NET CHANGE
Cash From Operating Activities 90.50M 73.10M 77.60M
Cash From Investing Activities -175.4M -20.90M -12.60M
Cash From Financing Activities 86.70M -50.90M -21.30M
Net Change In Cash 1.800M 1.300M 43.70M
YoY Change -101.45% -97.03% -6.22%
FREE CASH FLOW
Cash From Operating Activities $90.50M $73.10M $77.60M
Capital Expenditures -$13.80M -$10.20M -$9.700M
Free Cash Flow $104.3M $83.30M $87.30M
YoY Change 17.85% -4.58% -5.21%

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897000 USD
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
3973000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-242000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-125000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
159000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-935000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
820000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
207791000 USD
CY2014Q3 us-gaap Restructuring And Related Cost Expected Number Of Positions Eliminated
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminated
145 Employees
us-gaap Restructuring And Related Cost Expected Number Of Positions Eliminated
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminated
210 Employees
CY2015Q3 us-gaap Restructuring And Related Cost Expected Number Of Positions Eliminated
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminated
50 Employees
us-gaap Restructuring And Related Cost Expected Number Of Positions Eliminated
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminated
200 Employees
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
4355000 USD
us-gaap Restructuring Charges
RestructuringCharges
8811000 USD
CY2015Q3 us-gaap Restructuring Charges
RestructuringCharges
1738000 USD
us-gaap Restructuring Charges
RestructuringCharges
3156000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
4276000 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
2429000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
-3977000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
-976000 USD
CY2014Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4276000 USD
CY2015Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
2429000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
629335000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
715922000 USD
CY2014Q3 us-gaap Revenues
Revenues
413204000 USD
us-gaap Revenues
Revenues
1225569000 USD
CY2015Q3 us-gaap Revenues
Revenues
439816000 USD
us-gaap Revenues
Revenues
1309308000 USD
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
350607000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1040734000 USD
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
361781000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1075692000 USD
CY2014Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
62597000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
184835000 USD
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
78035000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
233616000 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
175661000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
527138000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
189641000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
575110000 USD
CY2014Q3 us-gaap Severance Costs1
SeveranceCosts1
4546000 USD
us-gaap Severance Costs1
SeveranceCosts1
7213000 USD
CY2015Q3 us-gaap Severance Costs1
SeveranceCosts1
1443000 USD
us-gaap Severance Costs1
SeveranceCosts1
3493000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6997000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8774000 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
160000000 USD
CY2015Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
319000000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
281000 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6890000 USD
CY2015Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
10000000 shares
CY2015Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1190000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
772000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
46996000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
647497000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
720073000 USD
CY2014Q4 us-gaap Trading Securities
TradingSecurities
2384000 USD
CY2015Q3 us-gaap Trading Securities
TradingSecurities
2015000 USD
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
448000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
448000 shares
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
366000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
391000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50042000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50337000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49762000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49983000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49594000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49889000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49396000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49592000 shares
CY2014Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
4040000 USD
CY2015Q3 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
3981000 USD

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