2017 Q1 Form 10-Q Financial Statement

#000142080017000008 Filed on May 05, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q2
Revenue $733.6M $765.7M
YoY Change -25.32%
Cost Of Revenue $493.8M $596.3M
YoY Change -14.49%
Gross Profit $239.8M $241.7M
YoY Change -26.32%
Gross Profit Margin 32.69% 31.56%
Selling, General & Admin $174.8M $214.4M
YoY Change -3.7%
% of Gross Profit 72.9% 88.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.97M $37.72M
YoY Change
% of Gross Profit 13.33% 15.61%
Operating Expenses $174.8M $214.4M
YoY Change -3.7%
Operating Profit $60.22M $48.47M
YoY Change -49.81%
Interest Expense $9.254M $9.120M
YoY Change -36.0%
% of Operating Profit 15.37% 18.82%
Other Income/Expense, Net
YoY Change
Pretax Income $50.97M $39.35M
YoY Change -52.21%
Income Tax $12.58M $13.14M
% Of Pretax Income 24.68% 33.39%
Net Earnings $38.54M $22.62M
YoY Change -57.43%
Net Earnings / Revenue 5.25% 2.95%
Basic Earnings Per Share $0.31 $0.18
Diluted Earnings Per Share $0.31 $0.18
COMMON SHARES
Basic Shares Outstanding 123.1M shares 123.1M shares
Diluted Shares Outstanding 123.8M shares 123.2M shares

Balance Sheet

Concept 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $207.8M $196.0M
Short-Term Investments
Other Short-Term Assets $244.1M $253.4M
YoY Change -21.02%
Inventory $427.3M $453.6M
Prepaid Expenses
Receivables $901.3M $881.7M
Other Receivables
Total Short-Term Assets $1.781B $1.785B
YoY Change -11.0%
LONG-TERM ASSETS
Property, Plant & Equipment $575.4M $650.9M
YoY Change -3.14%
Goodwill $2.588B $2.769B
YoY Change -3.17%
Intangibles $930.1M $992.2M
YoY Change 0.91%
Long-Term Investments
YoY Change
Other Assets $555.7M $526.6M
YoY Change 7.59%
Total Long-Term Assets $4.649B $4.939B
YoY Change -1.31%
TOTAL ASSETS
Total Short-Term Assets $1.781B $1.785B
Total Long-Term Assets $4.649B $4.939B
Total Assets $6.430B $6.724B
YoY Change -4.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $607.8M $691.8M
YoY Change -6.32%
Accrued Expenses $319.6M $400.1M
YoY Change -12.66%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $5.766M $5.774M
YoY Change -14.31%
Total Short-Term Liabilities $1.082B $1.098B
YoY Change -8.78%
LONG-TERM LIABILITIES
Long-Term Debt $1.055B $1.440B
YoY Change 4.6%
Other Long-Term Liabilities $891.6M $946.6M
YoY Change -5.45%
Total Long-Term Liabilities $1.947B $2.387B
YoY Change 0.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.082B $1.098B
Total Long-Term Liabilities $1.947B $2.387B
Total Liabilities $3.218B $3.485B
YoY Change -2.7%
SHAREHOLDERS EQUITY
Retained Earnings $733.9M $579.9M
YoY Change 17.22%
Common Stock $123.0K $123.0K
YoY Change -0.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.010B $3.046B
YoY Change
Total Liabilities & Shareholders Equity $6.430B $6.724B
YoY Change -4.08%

Cashflow Statement

Concept 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income $38.54M $22.62M
YoY Change -57.43%
Depreciation, Depletion And Amortization $31.97M $37.72M
YoY Change
Cash From Operating Activities $40.41M $15.52M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $11.71M $15.39M
YoY Change
Acquisitions $0.00
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$11.71M -$15.39M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$2.244M $20.48M
YoY Change
Debt Paid & Issued, Net $9.375M $9.375M
YoY Change
Cash From Financing Activities -$47.29M -$5.287M
YoY Change
NET CHANGE
Cash From Operating Activities $40.41M $15.52M
Cash From Investing Activities -$11.71M -$15.39M
Cash From Financing Activities -$47.29M -$5.287M
Net Change In Cash -$18.59M -$5.160M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $40.41M $15.52M
Capital Expenditures $11.71M $15.39M
Free Cash Flow $28.70M $127.0K
YoY Change

Facts In Submission

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2427000 USD
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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-6252000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
66524000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
40000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Net Of Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax
38000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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60000000 USD
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OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
246000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-2095000 USD
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OtherComprehensiveIncomeLossNetOfTax
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60775000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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-3400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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-3800000 USD
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CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
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22000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Benefit Plan Improvement Tax Effect
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansBenefitPlanImprovementTaxEffect
24000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1360000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-1674000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
675000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax
760000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
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OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-9553000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-937000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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-2880000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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236000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2016Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20812000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2017Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
11717000 USD
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15389000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11709000 USD
CY2017Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
31443000 USD
CY2016Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7642000 USD
CY2017Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6315000 USD
CY2016Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1715000 USD
CY2016Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
330000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2244000 USD
CY2016Q2 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
313796000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
219489000 USD
CY2016Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1226000 USD
CY2017Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2490000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
37407000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
38875000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
31721000 USD
CY2017Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
31739000 USD
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
30710000 USD
CY2017Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-6000 USD
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6514000 USD
CY2017Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5903000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
26210000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
41487000 USD
CY2016Q4 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
14624000 USD
CY2017Q1 us-gaap Progress Payments Netted Against Inventory For Long Term Contracts Or Programs
ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms
15076000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
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570852000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
575428000 USD
CY2016Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1400000 USD
CY2017Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1726000 USD
CY2016Q2 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
290452000 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
257153000 USD
CY2016Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9375000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9375000 USD
CY2017Q1 us-gaap Restructuring And Related Cost Expected Cost Remaining1
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40000000 USD
CY2016Q2 us-gaap Restructuring Charges
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17668000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
7100000 USD
CY2016Q4 us-gaap Restructuring Reserve
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CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
8936000 USD
CY2016Q4 us-gaap Restructuring Reserve Current
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13184000 USD
CY2017Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
8711000 USD
CY2017Q1 us-gaap Restructuring Reserve Noncurrent
RestructuringReserveNoncurrent
200000 USD
CY2017Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
167000 USD
CY2017Q1 us-gaap Restructuring Settlement And Impairment Provisions
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7100000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
685411000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
733942000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
876843000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
844926000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
214387000 USD
CY2016Q2 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
-10573000 USD
CY2017Q1 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
-3475000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
900000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123795383 shares
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
206046000 USD
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
5110000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5799000 USD
CY2016Q2 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
881000 USD
CY2017Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
436000 USD
CY2017Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
8042000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2896871000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
3010387000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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3093344000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3211432000 USD
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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123082661 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123084878 shares

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