2017 Q1 Form 10-Q Financial Statement
#000156459017008247 Filed on May 03, 2017
Income Statement
Concept | 2017 Q1 | 2016 Q1 |
---|---|---|
Revenue | $631.0M | $548.0M |
YoY Change | 15.15% | -36.5% |
Cost Of Revenue | $517.0M | $461.0M |
YoY Change | 12.15% | -34.89% |
Gross Profit | $114.0M | $87.00M |
YoY Change | 31.03% | -43.87% |
Gross Profit Margin | 18.07% | 15.88% |
Selling, General & Admin | $135.0M | $152.0M |
YoY Change | -11.18% | -6.75% |
% of Gross Profit | 118.42% | 174.71% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $13.00M | $12.00M |
YoY Change | 8.33% | 71.43% |
% of Gross Profit | 11.4% | 13.79% |
Operating Expenses | $135.0M | $152.0M |
YoY Change | -11.18% | -6.75% |
Operating Profit | -$21.00M | -$65.00M |
YoY Change | -67.69% | 712.5% |
Interest Expense | $1.000M | -$2.000M |
YoY Change | -150.0% | -50.0% |
% of Operating Profit | ||
Other Income/Expense, Net | -$3.000M | |
YoY Change | ||
Pretax Income | -$23.00M | -$67.00M |
YoY Change | -65.67% | 458.33% |
Income Tax | $0.00 | -$4.000M |
% Of Pretax Income | ||
Net Earnings | -$23.00M | -$63.00M |
YoY Change | -63.49% | 530.0% |
Net Earnings / Revenue | -3.65% | -11.5% |
Basic Earnings Per Share | -$0.21 | -$0.59 |
Diluted Earnings Per Share | -$0.21 | -$0.59 |
COMMON SHARES | ||
Basic Shares Outstanding | 108.0M | 107.0M |
Diluted Shares Outstanding | 108.0M | 107.0M |
Balance Sheet
Concept | 2017 Q1 | 2016 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $102.0M | $131.0M |
YoY Change | -22.14% | 7.38% |
Cash & Equivalents | $102.0M | $131.0M |
Short-Term Investments | ||
Other Short-Term Assets | $20.00M | $24.00M |
YoY Change | -16.67% | -44.19% |
Inventory | $491.0M | $633.0M |
Prepaid Expenses | ||
Receivables | $412.0M | $413.0M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $1.025B | $1.201B |
YoY Change | -14.65% | -37.02% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $136.0M | $159.0M |
YoY Change | -14.47% | 11.19% |
Goodwill | $210.0M | |
YoY Change | ||
Intangibles | $156.0M | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $6.000M | $7.000M |
YoY Change | -14.29% | 0.0% |
Total Long-Term Assets | $638.0M | $537.0M |
YoY Change | 18.81% | -23.5% |
TOTAL ASSETS | ||
Total Short-Term Assets | $1.025B | $1.201B |
Total Long-Term Assets | $638.0M | $537.0M |
Total Assets | $1.663B | $1.738B |
YoY Change | -4.32% | -33.38% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $305.0M | $208.0M |
YoY Change | 46.63% | -50.12% |
Accrued Expenses | $74.00M | $94.00M |
YoY Change | -21.28% | -12.96% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $46.00M | $52.00M |
YoY Change | -11.54% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $399.0M | $302.0M |
YoY Change | 32.12% | -42.59% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $82.00M | $55.00M |
YoY Change | 49.09% | -59.26% |
Other Long-Term Liabilities | $1.000M | $3.000M |
YoY Change | -66.67% | -40.0% |
Total Long-Term Liabilities | $83.00M | $58.00M |
YoY Change | 43.1% | 1060.0% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $399.0M | $302.0M |
Total Long-Term Liabilities | $83.00M | $58.00M |
Total Liabilities | $488.0M | $370.0M |
YoY Change | 31.89% | -46.14% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$507.0M | |
YoY Change | -1156.25% | |
Common Stock | $1.986B | |
YoY Change | 1.43% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.175B | $1.368B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.663B | $1.738B |
YoY Change | -4.32% | -33.38% |
Cashflow Statement
Concept | 2017 Q1 | 2016 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$23.00M | -$63.00M |
YoY Change | -63.49% | 530.0% |
Depreciation, Depletion And Amortization | $13.00M | $12.00M |
YoY Change | 8.33% | 71.43% |
Cash From Operating Activities | -$21.00M | $89.00M |
YoY Change | -123.6% | -784.62% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $1.000M | $1.000M |
YoY Change | 0.0% | -66.67% |
Acquisitions | $3.000M | |
YoY Change | ||
Other Investing Activities | -$2.000M | -$1.000M |
YoY Change | 100.0% | -99.45% |
Cash From Investing Activities | -$2.000M | $0.00 |
YoY Change | -100.0% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 16.00M | -57.00M |
YoY Change | -128.07% | -142.86% |
NET CHANGE | ||
Cash From Operating Activities | -21.00M | 89.00M |
Cash From Investing Activities | -2.000M | 0.000 |
Cash From Financing Activities | 16.00M | -57.00M |
Net Change In Cash | -7.000M | 32.00M |
YoY Change | -121.88% | -148.48% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$21.00M | $89.00M |
Capital Expenditures | $1.000M | $1.000M |
Free Cash Flow | -$22.00M | $88.00M |
YoY Change | -125.0% | -650.0% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2017Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-2000000 | |
CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23000000 | |
CY2017Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.21 | |
CY2017Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.21 | |
CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
107550846 | |
CY2017Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
107550846 | |
CY2017Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
|
-10000000 | |
CY2017Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-13000000 | |
CY2017Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
13000000 | |
CY2017Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
53000000 | |
CY2016Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
2000000 | |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
89000000 | |
CY2016Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1000000 | |
CY2017Q1 | us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
3000000 | |
CY2017Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-2000000 | |
CY2016Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-1000000 | |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-2000000 | |
CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
180000000 | |
CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
184000000 | |
CY2017Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
42000000 | |
CY2017Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
59000000 | |
CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6000000 | |
CY2017Q1 | dnow |
Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
|
-1000000 | |
CY2017Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
5000000 | |
CY2016Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-72000000 | |
CY2017Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
11000000 | |
CY2016Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-55000000 | |
CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4000000 | |
CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1000000 | |
CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
52000000 | |
CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-7000000 | |
CY2017Q1 | us-gaap |
Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
|
-1000000 | |
CY2016Q1 | us-gaap |
Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
|
-3000000 | |
CY2017Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
2000000 | |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-21000000 | |
CY2017Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1000000 | |
CY2017Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-1000000 | |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
16000000 | |
CY2017Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
3000000 | |
CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-4000000 | |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
90000000 | |
CY2017Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported and contingent amounts of assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p></div> | |
CY2017Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassification</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain amounts in the prior periods presented have been reclassified to conform to the current period financial statement presentation. These reclassifications have no effect on previously reported operating loss, loss before income taxes or net loss.</p></div> | |
CY2013Q4 | dnow |
Number Of Vendors
NumberOfVendors
|
1000 | |
CY2013Q4 | dnow |
Number Of Vendor Distributed Countries
NumberOfVendorDistributedCountries
|
40 | |
CY2016Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6951056 | |
CY2013Q4 | dnow |
Number Of Geographic Markets
NumberOfGeographicMarkets
|
80 | |
CY2017Q1 | dnow |
Senior Secured Revolving Credit Facility Commitment
SeniorSecuredRevolvingCreditFacilityCommitment
|
750000000 | |
CY2017Q1 | us-gaap |
Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
|
2019-04-18 | |
CY2017Q1 | dnow |
Operating Profit Loss Margin
OperatingProfitLossMargin
|
-0.033 | |
CY2016Q1 | dnow |
Operating Profit Loss Margin
OperatingProfitLossMargin
|
-0.119 | |
CY2017Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
|
0.018 | |
CY2016Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
|
0.052 | |
CY2017Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7762312 | |
CY2017Q1 | dnow |
Net Income Loss Attributable To Shareholders
NetIncomeLossAttributableToShareholders
|
-23000000 | |
CY2016Q1 | dnow |
Net Income Loss Attributable To Shareholders
NetIncomeLossAttributableToShareholders
|
-63000000 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
7.07 | |
CY2017Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6000000 | |
CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
915037 | |
CY2016Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6000000 | |
CY2017Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
46000000 | |
CY2017Q1 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
11000000 |