2017 Q4 Form 10-Q Financial Statement

#000006721517000049 Filed on November 22, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q4
Revenue $756.2M $780.2M $799.2M
YoY Change -5.38% -1.14% 21.23%
Cost Of Revenue $700.0K $800.0K $615.0M
YoY Change -99.89% -99.87% 21.3%
Gross Profit $155.4M $173.3M $184.2M
YoY Change -15.67% -5.46% 20.98%
Gross Profit Margin 20.55% 22.21% 23.05%
Selling, General & Admin $64.60M $59.50M $60.20M
YoY Change 7.31% -4.19% 16.89%
% of Gross Profit 41.58% 34.34% 32.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.65M $40.24M $34.55M
YoY Change 23.46% 11.79% 25.86%
% of Gross Profit 27.45% 23.22% 18.75%
Operating Expenses $107.3M $99.80M $94.70M
YoY Change 13.31% 1.63% -83.84%
Operating Profit $48.07M $73.49M $89.53M
YoY Change -46.31% -13.64% -120.65%
Interest Expense -$9.700M -$9.700M -$9.100M
YoY Change 6.59% 0.0% 0.0%
% of Operating Profit -20.18% -13.2% -10.16%
Other Income/Expense, Net $5.931M $6.043M $940.0K
YoY Change 530.96% -36.01%
Pretax Income $44.38M $69.84M $81.36M
YoY Change -45.45% -11.6% 64.51%
Income Tax $15.60M $26.13M $30.31M
% Of Pretax Income 35.16% 37.41% 37.25%
Net Earnings $28.78M $43.71M $51.05M
YoY Change -43.63% -11.52% 65.62%
Net Earnings / Revenue 3.81% 5.6% 6.39%
Basic Earnings Per Share $0.93 $1.41 $1.62
Diluted Earnings Per Share $0.90 $1.38 $1.59
COMMON SHARES
Basic Shares Outstanding 31.06M shares 31.08M shares 31.43M shares
Diluted Shares Outstanding 31.89M shares 31.66M shares 32.20M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.50M $38.60M $21.70M
YoY Change 12.9% 14.2% -0.46%
Cash & Equivalents $24.53M $38.61M $21.71M
Short-Term Investments
Other Short-Term Assets $29.71M $23.60M $21.42M
YoY Change 38.73% 46.55% 2.64%
Inventory $83.88M $83.20M $81.05M
Prepaid Expenses $17.49M $10.59M
Receivables $347.7M $369.8M $329.8M
Other Receivables $908.0K $2.761M $31.30M
Total Short-Term Assets $893.4M $938.5M $966.9M
YoY Change -7.61% 10.25% 18.26%
LONG-TERM ASSETS
Property, Plant & Equipment $423.3M $422.1M $337.7M
YoY Change 25.37% 29.22% 27.18%
Goodwill $321.8M $321.7M $308.7M
YoY Change 4.25% 3.74% 9.67%
Intangibles $177.3M $183.6M $191.7M
YoY Change -7.5% -7.24% 42.86%
Long-Term Investments
YoY Change
Other Assets $36.75M $33.37M $33.47M
YoY Change 9.8% -1.19% 2.16%
Total Long-Term Assets $959.2M $960.8M $871.5M
YoY Change 10.06% 10.63% 22.08%
TOTAL ASSETS
Total Short-Term Assets $893.4M $938.5M $966.9M
Total Long-Term Assets $959.2M $960.8M $871.5M
Total Assets $1.853B $1.899B $1.838B
YoY Change 0.77% 10.44% 20.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $109.9M $133.0M $114.7M
YoY Change -4.23% 15.14% 22.84%
Accrued Expenses $132.5M $153.5M $136.6M
YoY Change -3.0% -3.52% 11.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $24.10M $21.70M $17.50M
YoY Change 37.71% 65.65% 212.5%
Total Short-Term Liabilities $283.1M $318.5M $312.0M
YoY Change -9.25% -1.27% 23.65%
LONG-TERM LIABILITIES
Long-Term Debt $736.0M $738.3M $774.5M
YoY Change -4.97% 4.54% 21.78%
Other Long-Term Liabilities $5.351M $5.288M $4.269M
YoY Change 25.35% 26.57% -1.91%
Total Long-Term Liabilities $741.4M $743.6M $778.8M
YoY Change -4.8% 4.67% 21.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $283.1M $318.5M $312.0M
Total Long-Term Liabilities $741.4M $743.6M $778.8M
Total Liabilities $1.163B $1.228B $1.225B
YoY Change -5.05% 5.62% 24.01%
SHAREHOLDERS EQUITY
Retained Earnings $674.2M $652.3M $588.9M
YoY Change 14.48% 21.27% 28.84%
Common Stock $16.70M $20.45M $26.09M
YoY Change -36.01% -1.1% -70.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $689.6M $671.6M $613.7M
YoY Change
Total Liabilities & Shareholders Equity $1.853B $1.899B $1.838B
YoY Change 0.77% 10.44% 20.04%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $28.78M $43.71M $51.05M
YoY Change -43.63% -11.52% 65.62%
Depreciation, Depletion And Amortization $42.65M $40.24M $34.55M
YoY Change 23.46% 11.79% 25.86%
Cash From Operating Activities $56.83M $149.9M -$41.56M
YoY Change -236.74% -17.86% 43.99%
INVESTING ACTIVITIES
Capital Expenditures $56.02M -$66.00M $40.08M
YoY Change 39.78% 39.53% -1.66%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $7.900M $6.300M $1.900M
YoY Change 315.79% -106.05% -103.98%
Cash From Investing Activities -$48.09M -$59.70M -$38.22M
YoY Change 25.81% -60.59% -56.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $16.88M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$22.82M -71.00M $67.70M
YoY Change -133.7% 330.3% -42.56%
NET CHANGE
Cash From Operating Activities $56.83M 149.9M -$41.56M
Cash From Investing Activities -$48.09M -59.70M -$38.22M
Cash From Financing Activities -$22.82M -71.00M $67.70M
Net Change In Cash -$14.08M 19.20M -$12.08M
YoY Change 16.57% 32.41% -2477.17%
FREE CASH FLOW
Cash From Operating Activities $56.83M $149.9M -$41.56M
Capital Expenditures $56.02M -$66.00M $40.08M
Free Cash Flow $804.0K $215.9M -$81.64M
YoY Change -100.98% -6.05% 17.26%

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CY2017Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
44379000 USD
CY2016Q4 us-gaap Income Tax Expense Benefit
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CY2017Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2016Q4 us-gaap Income Taxes Paid
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CY2017Q4 us-gaap Income Taxes Paid
IncomeTaxesPaid
554000 USD
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IncomeTaxesReceivable
1008000 USD
CY2016Q4 us-gaap Increase Decrease In Accounts Payable
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1083000 USD
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CY2016Q4 us-gaap Increase Decrease In Accounts Receivable
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2404000 USD
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-21868000 USD
CY2016Q4 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-20915000 USD
CY2017Q4 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-26918000 USD
CY2016Q4 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-13881000 USD
CY2017Q4 us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-15439000 USD
CY2016Q4 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-132000 USD
CY2017Q4 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1010000 USD
CY2016Q4 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
463000 USD
CY2017Q4 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
900000 USD
CY2016Q4 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
115498000 USD
CY2017Q4 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
19944000 USD
CY2016Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
770794 shares
CY2017Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
830126 shares
CY2017Q3 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
9243000 USD
CY2017Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
14135000 USD
CY2017Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
315217000 USD
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
315217000 USD
CY2017Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
183561000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
177286000 USD
CY2016Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-9067000 USD
CY2017Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-9707000 USD
CY2016Q4 us-gaap Interest Paid
InterestPaid
4924000 USD
CY2017Q4 us-gaap Interest Paid
InterestPaid
5248000 USD
CY2017Q3 us-gaap Inventory Net
InventoryNet
83204000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
83877000 USD
CY2017Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
48700000 USD
CY2017Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
48700000 USD
CY2017Q3 us-gaap Liabilities
Liabilities
1227724000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
1162884000 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1899307000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1852522000 USD
CY2017Q3 us-gaap Liabilities Current
LiabilitiesCurrent
318538000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
283121000 USD
CY2017Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
401300000 USD
CY2017Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
401300000 USD
CY2017Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
21656000 USD
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
24063000 USD
CY2017Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
738265000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
736008000 USD
CY2016Q4 us-gaap Loss Contingency Accrual Payments
LossContingencyAccrualPayments
100000 USD
CY2016Q4 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
13000000 USD
CY2016Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
67703000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22819000 USD
CY2016Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-38220000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48085000 USD
CY2016Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41559000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
56827000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
51050000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
28776000 USD
CY2016Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
940000 USD
CY2017Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
5931000 USD
CY2017Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2017Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
113603000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
84091000 USD
CY2017Q3 us-gaap Other Assets Current
OtherAssetsCurrent
23603000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
29710000 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
33373000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
36753000 USD
CY2016Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-26000 USD
CY2017Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-94000 USD
CY2017Q3 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
4797000 USD
CY2017Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
4319000 USD
CY2016Q4 us-gaap Other Financial Services Costs
OtherFinancialServicesCosts
600000 USD
CY2017Q4 us-gaap Other Financial Services Costs
OtherFinancialServicesCosts
700000 USD
CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
16972000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
16339000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5288000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5351000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-503000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-564000 USD
CY2017Q3 us-gaap Other Receivables Net Current
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2761000 USD
CY2017Q4 us-gaap Other Receivables Net Current
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908000 USD
CY2016Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
62909000 USD
CY2017Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
16875000 USD
CY2016Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1378000 USD
CY2016Q4 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
138000000 USD
CY2017Q4 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
4813000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
652287000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
674194000 USD
CY2016Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
799223000 USD
CY2017Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1335000 USD
CY2016Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40080000 USD
CY2017Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
56023000 USD
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10588000 USD
CY2017Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
17488000 USD
CY2016Q4 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
206000000 USD
CY2017Q4 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
CY2016Q4 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2323000 USD
CY2017Q4 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
8838000 USD
CY2016Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
202000 USD
CY2017Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
204000 USD
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
935273000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
951069000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
422107000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
423330000 USD
CY2016Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
82000 USD
CY2017Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
205000 USD
CY2017Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
756215000 USD
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
5707000 USD
CY2017Q4 us-gaap Share Based Compensation
ShareBasedCompensation
7380000 USD
CY2016Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
16290 shares
CY2017Q4 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
15918 shares
CY2017Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
95200000 USD
CY2017 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
713006 shares
CY2017Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
200000 shares
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
671583000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
689638000 USD
CY2017Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
1112000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
10067000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3100000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3100000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1200000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1200000 USD
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32200287 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31891574 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31429493 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31061448 shares
CY2017Q4 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:italic;">Accounting Period.</font><font style="font-family:inherit;font-size:10pt;color:#000000;"> The Company&#8217;s fiscal 2017 year ended on the last Saturday in July. In September 2017, the Company&#8217;s Board of Directors approved a change in the Company&#8217;s fiscal year end from July to January. Beginning with a six-month transition period ending January 27, 2018, the Company&#8217;s fiscal year will end on the last Saturday of January. The Company will file a transition report on Form 10-K containing audited financial statements for the six month period from July 30, 2017 to January 27, 2018. After the transition period, each fiscal year will consist of either 52 or 53 weeks of operations (with the additional week of operations occurring in the fourth fiscal quarter). The Company&#8217;s 2019 fiscal year will commence on January 28, 2018.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2017Q4 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;">There have been no material changes to the Company&#8217;s significant accounting policies and critical accounting estimates described in the Company&#8217;s Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;">July&#160;29,&#160;2017</font><font style="font-family:inherit;font-size:10pt;color:#000000;">. </font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-style:italic;">Use of Estimates. </font><font style="font-family:inherit;font-size:10pt;color:#000000;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. These estimates are based on the Company&#8217;s historical experience and management&#8217;s understanding of current facts and circumstances. At the time they are made, the Company believes that such estimates are fair when considered in conjunction with the consolidated financial position and results of operations taken as a whole. However, actual results could differ materially from those estimates. </font></div></div>

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