2017 Q1 Form 10-Q Financial Statement

#000163279017000039 Filed on May 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $359.0M $334.0M
YoY Change 7.49% -6.42%
Cost Of Revenue $191.1M $192.4M
YoY Change -0.68% 2.12%
Gross Profit $167.9M $141.6M
YoY Change 18.57% -15.96%
Gross Profit Margin 46.77% 42.4%
Selling, General & Admin $92.70M $83.40M
YoY Change 11.15% -19.58%
% of Gross Profit 55.21% 58.9%
Research & Development $5.100M $6.400M
YoY Change -20.31% 0.0%
% of Gross Profit 3.04% 4.52%
Depreciation & Amortization $15.20M $7.800M
YoY Change 94.87% -32.76%
% of Gross Profit 9.05% 5.51%
Operating Expenses $97.80M $89.80M
YoY Change 8.91% -18.44%
Operating Profit $70.10M $51.80M
YoY Change 35.33% -11.3%
Interest Expense $13.10M $13.10M
YoY Change 0.0% -13.82%
% of Operating Profit 18.69% 25.29%
Other Income/Expense, Net $4.200M -$100.0K
YoY Change -4300.0% -103.03%
Pretax Income $59.30M $21.00M
YoY Change 182.38% -129.29%
Income Tax $12.40M $4.600M
% Of Pretax Income 20.91% 21.9%
Net Earnings $46.90M $16.40M
YoY Change 185.98% -123.7%
Net Earnings / Revenue 13.06% 4.91%
Basic Earnings Per Share $0.76 $0.27
Diluted Earnings Per Share $0.75 $0.26
COMMON SHARES
Basic Shares Outstanding 61.80M shares 61.80M shares
Diluted Shares Outstanding 62.80M shares 62.30M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $372.2M $576.3M
YoY Change -35.42% 539.62%
Cash & Equivalents $404.4M $576.3M
Short-Term Investments
Other Short-Term Assets $3.400M $900.0K
YoY Change 277.78% -98.99%
Inventory $277.5M $218.0M
Prepaid Expenses $64.90M $63.60M
Receivables $157.5M $131.0M
Other Receivables $47.40M $53.60M
Total Short-Term Assets $922.9M $1.043B
YoY Change -11.55% 66.76%
LONG-TERM ASSETS
Property, Plant & Equipment $182.1M $202.5M
YoY Change -10.07% -6.81%
Goodwill $229.2M $37.50M
YoY Change 511.2%
Intangibles $228.9M $77.70M
YoY Change 194.59%
Long-Term Investments
YoY Change
Other Assets $121.8M $59.50M
YoY Change 104.71% -46.2%
Total Long-Term Assets $805.1M $541.0M
YoY Change 48.82% 21.87%
TOTAL ASSETS
Total Short-Term Assets $922.9M $1.043B
Total Long-Term Assets $805.1M $541.0M
Total Assets $1.728B $1.584B
YoY Change 9.06% 48.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $167.8M $147.1M
YoY Change 14.07% -1.21%
Accrued Expenses $97.40M $107.7M
YoY Change -9.56% -7.79%
Deferred Revenue
YoY Change
Short-Term Debt $83.60M $9.900M
YoY Change 744.44%
Long-Term Debt Due $4.000M $4.000M
YoY Change 0.0%
Total Short-Term Liabilities $471.4M $400.2M
YoY Change 17.79% 23.63%
LONG-TERM LIABILITIES
Long-Term Debt $979.8M $983.0M
YoY Change -0.33%
Other Long-Term Liabilities $46.80M $58.00M
YoY Change -19.31% -26.68%
Total Long-Term Liabilities $1.027B $1.041B
YoY Change -1.38% 1216.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $471.4M $400.2M
Total Long-Term Liabilities $1.027B $1.041B
Total Liabilities $1.661B $1.595B
YoY Change 4.18% 295.88%
SHAREHOLDERS EQUITY
Retained Earnings $174.8M $57.10M
YoY Change 206.13%
Common Stock $188.9M $189.3M
YoY Change -0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $66.80M -$10.20M
YoY Change
Total Liabilities & Shareholders Equity $1.728B $1.584B
YoY Change 9.06% 48.13%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $46.90M $16.40M
YoY Change 185.98% -123.7%
Depreciation, Depletion And Amortization $15.20M $7.800M
YoY Change 94.87% -32.76%
Cash From Operating Activities $32.50M $36.70M
YoY Change -11.44% -45.06%
INVESTING ACTIVITIES
Capital Expenditures -$7.400M -$10.90M
YoY Change -32.11% 36.25%
Acquisitions
YoY Change
Other Investing Activities $18.80M $700.0K
YoY Change 2585.71% -94.17%
Cash From Investing Activities $11.40M -$10.20M
YoY Change -211.76% -355.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.00M -21.30M
YoY Change -212.68% -70.7%
NET CHANGE
Cash From Operating Activities 32.50M 36.70M
Cash From Investing Activities 11.40M -10.20M
Cash From Financing Activities 24.00M -21.30M
Net Change In Cash 67.90M 5.200M
YoY Change 1205.77% -373.68%
FREE CASH FLOW
Cash From Operating Activities $32.50M $36.70M
Capital Expenditures -$7.400M -$10.90M
Free Cash Flow $39.90M $47.60M
YoY Change -16.18% -36.36%

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
124300000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
16400000 USD
us-gaap Net Income Loss
NetIncomeLoss
81900000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
46900000 USD
us-gaap Net Income Loss
NetIncomeLoss
142500000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-100000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
500000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1100000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-400000 USD
CY2016 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2017Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2016Q3 us-gaap Other Assets Current
OtherAssetsCurrent
1500000 USD
CY2017Q1 us-gaap Other Assets Current
OtherAssetsCurrent
3400000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
112200000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
121800000 USD
CY2016Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-600000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-2700000 USD
CY2017Q1 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-600000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-4400000 USD
CY2016Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
23200000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
18600000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
15500000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-16400000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-8600000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-3100000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-2800000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-600000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
3100000 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-500000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1000000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-700000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-1300000 USD
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-8000000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-7300000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2100000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
6100000 USD
CY2016Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
254700000 USD
CY2017Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
216000000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59700000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
46800000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-400000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-900000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-18200000 USD
CY2016Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
105500000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-19500000 USD
CY2017Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
98900000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21800000 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
700000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9300000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
600000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
1100000 USD
CY2016Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
17000000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
17000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
30900000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
35100000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4100000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8200000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
14200000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
12300000 USD
CY2016Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
139400000 USD
CY2017Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
122100000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
122100000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
115700000 USD
CY2016Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
70000000 USD
CY2017Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
64900000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
4700000 USD
us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess
16000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
700000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
23100000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
936500000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
838100000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
201700000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
182100000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-2700000 USD
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
1000000 USD
us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
2000000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6400000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12500000 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5100000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10900000 USD
us-gaap Restructuring Charges
RestructuringCharges
4400000 USD
us-gaap Restructuring Charges
RestructuringCharges
-2500000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
70900000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
174800000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
334000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
840800000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
359000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
918600000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
83400000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
167100000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
89600000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
170900000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11900000 USD
CY2016Q3 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
57400000 USD
CY2017Q1 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
83600000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
-30000000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
66800000 USD
CY2016Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
15000000 USD
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
19700000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
44.54
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
192029 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
8600000 USD
CY2016 us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
-1100000 USD
us-gaap Unrealized Gain Loss On Foreign Currency Derivatives Net Before Tax
UnrealizedGainLossOnForeignCurrencyDerivativesNetBeforeTax
900000 USD
CY2016 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
-9700000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
-800000 USD
CY2016Q3 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
22900000 USD
CY2017Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
21400000 USD
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62400000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62900000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62000000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61800000 shares

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