2019 Q1 Form 10-Q Financial Statement

#000108496119000058 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $345.7M $326.8M
YoY Change 5.79% 20.17%
Cost Of Revenue $65.00M $65.60M
YoY Change -0.91% 10.25%
Gross Profit $282.0M $261.2M
YoY Change 7.96% 22.98%
Gross Profit Margin 81.57% 79.93%
Selling, General & Admin $131.4M $128.5M
YoY Change 2.26% 26.48%
% of Gross Profit 46.6% 49.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.995M $10.44M
YoY Change -4.23% 21.0%
% of Gross Profit 3.54% 4.0%
Operating Expenses $236.0M $238.3M
YoY Change -0.97% 21.54%
Operating Profit $111.1M $88.45M
YoY Change 25.56% 16.63%
Interest Expense $54.97M $57.46M
YoY Change -4.34% 16.8%
% of Operating Profit 49.49% 64.96%
Other Income/Expense, Net -$57.94M -$55.27M
YoY Change 4.84% 13.73%
Pretax Income $53.10M $33.18M
YoY Change 60.02% 21.79%
Income Tax $3.700M $9.500M
% Of Pretax Income 6.97% 28.63%
Net Earnings $49.25M $21.83M
YoY Change 125.66% -1.23%
Net Earnings / Revenue 14.25% 6.68%
Basic Earnings Per Share $1.58 $0.84
Diluted Earnings Per Share $1.57 $0.83
COMMON SHARES
Basic Shares Outstanding 31.20M shares 26.06M shares
Diluted Shares Outstanding 31.36M shares 26.42M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.1M $217.1M
YoY Change -23.03% 35.77%
Cash & Equivalents $167.1M $217.1M
Short-Term Investments
Other Short-Term Assets $22.40M $29.50M
YoY Change -24.07% 44.61%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $263.8M $289.5M
YoY Change -8.88% 29.88%
LONG-TERM ASSETS
Property, Plant & Equipment $117.4M $81.01M
YoY Change 44.89% 12.82%
Goodwill $882.9M $957.1M
YoY Change -7.76% 20.18%
Intangibles $59.38M $75.62M
YoY Change -21.47% 175.08%
Long-Term Investments $3.212B $3.024B
YoY Change 6.2% 24.14%
Other Assets $138.1M $122.2M
YoY Change 13.01% -19.23%
Total Long-Term Assets $4.550B $4.353B
YoY Change 4.53% 22.9%
TOTAL ASSETS
Total Short-Term Assets $263.8M $289.5M
Total Long-Term Assets $4.550B $4.353B
Total Assets $4.814B $4.642B
YoY Change 3.69% 23.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $195.7M $244.9M
YoY Change -20.09% 8.94%
Accrued Expenses $106.0M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $301.7M $244.9M
YoY Change 23.19% 8.94%
LONG-TERM LIABILITIES
Long-Term Debt $3.593B $3.607B
YoY Change -0.39% 25.64%
Other Long-Term Liabilities $44.40M $33.20M
YoY Change 33.73% 11.41%
Total Long-Term Liabilities $3.637B $3.640B
YoY Change -0.08% 25.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $301.7M $244.9M
Total Long-Term Liabilities $3.637B $3.640B
Total Liabilities $3.939B $3.885B
YoY Change 1.39% 24.32%
SHAREHOLDERS EQUITY
Retained Earnings $769.4M $626.1M
YoY Change 22.89% 7.78%
Common Stock $310.0K $259.0K
YoY Change 19.69% 0.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $872.3M $610.8M
YoY Change
Total Liabilities & Shareholders Equity $4.814B $4.642B
YoY Change 3.69% 23.31%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $49.25M $21.83M
YoY Change 125.66% -1.23%
Depreciation, Depletion And Amortization $9.995M $10.44M
YoY Change -4.23% 21.0%
Cash From Operating Activities $10.99M $1.029M
YoY Change 968.12% -96.21%
INVESTING ACTIVITIES
Capital Expenditures $10.23M $11.22M
YoY Change -8.85% 84.51%
Acquisitions
YoY Change
Other Investing Activities $3.347M -$1.239M
YoY Change -370.14% -112.79%
Cash From Investing Activities -$69.51M -$84.49M
YoY Change -17.72% 72.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $71.55M $84.64M
YoY Change -15.47% 199.15%
NET CHANGE
Cash From Operating Activities $10.99M $1.029M
Cash From Investing Activities -$69.51M -$84.49M
Cash From Financing Activities $71.55M $84.64M
Net Change In Cash $13.02M $1.179M
YoY Change 1004.66% -81.75%
FREE CASH FLOW
Cash From Operating Activities $10.99M $1.029M
Capital Expenditures $10.23M $11.22M
Free Cash Flow $764.0K -$10.19M
YoY Change -107.5% -148.35%

Facts In Submission

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3820000 USD
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53115000 USD
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-1239000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1980000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2571000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1950000 USD
CY2018Q1 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
280909000 USD
CY2019Q1 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
258635000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11220000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10227000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
24989000 USD
CY2019Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
22379000 USD
CY2018Q1 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
206402000 USD
CY2019Q1 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
201328000 USD
CY2018Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
177449000 USD
CY2019Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
196263000 USD
CY2018Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2884000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2912000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
23713000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
49442000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
115518000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
117371000 USD
CY2019Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
358000000 USD
CY2018Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
87356000 USD
CY2019Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
119854000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
720189000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
769443000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
35968000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
34552000 USD
CY2018Q1 us-gaap Revenues
Revenues
316977000 USD
CY2019Q1 us-gaap Revenues
Revenues
345710000 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
109597000 USD
CY2018Q4 us-gaap Senior Notes
SeniorNotes
325000000 USD
CY2019Q1 us-gaap Senior Notes
SeniorNotes
325000000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2276000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1826000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
818009000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
872263000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
571933000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
601775000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
819688000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
874557000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19900000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
13000000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26416000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31359000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26056000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31201000 shares
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:6px;text-align:start;padding-left:0px;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Certain immaterial reclassifications have been made to the consolidated financial statements to conform to the current year&#8217;s presentation.</font></div></div>
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:6px;text-align:start;padding-left:0px;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in the Company&#8217;s financial statements and the accompanying notes. Actual results could materially differ from those estimates.</font></div></div>

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