2017 Q4 Form 10-Q Financial Statement

#000000695518000003 Filed on January 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $289.0M $265.8M
YoY Change 8.71% -12.86%
Cost Of Revenue $188.0M $172.7M
YoY Change 8.87% -12.08%
Gross Profit $100.9M $93.07M
YoY Change 8.43% -14.27%
Gross Profit Margin 34.92% 35.01%
Selling, General & Admin $74.50M $68.60M
YoY Change 8.6% -5.9%
% of Gross Profit 73.83% 73.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.09M $10.90M
YoY Change -7.4% -12.64%
% of Gross Profit 10.0% 11.71%
Operating Expenses $79.70M $73.90M
YoY Change 7.85% -6.22%
Operating Profit $14.67M $8.471M
YoY Change 73.21% -66.61%
Interest Expense -$7.500M -$7.100M
YoY Change 5.63% 0.0%
% of Operating Profit -51.11% -83.82%
Other Income/Expense, Net -$329.0K $628.0K
YoY Change -152.39% -201.45%
Pretax Income $6.830M $1.967M
YoY Change 247.23% -88.85%
Income Tax $1.604M -$2.998M
% Of Pretax Income 23.48% -152.41%
Net Earnings $5.226M $4.965M
YoY Change 5.26% -67.86%
Net Earnings / Revenue 1.81% 1.87%
Basic Earnings Per Share $0.09 $0.08
Diluted Earnings Per Share $0.09 $0.08
COMMON SHARES
Basic Shares Outstanding 59.87M shares 58.97M shares
Diluted Shares Outstanding 60.61M shares 59.62M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $165.1M $176.9M
YoY Change -6.67% 2.91%
Cash & Equivalents $165.1M $176.9M
Short-Term Investments
Other Short-Term Assets $97.70M $48.10M
YoY Change 103.12% -4.18%
Inventory $154.2M $135.1M
Prepaid Expenses
Receivables $201.3M $188.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $618.3M $548.8M
YoY Change 12.66% -2.48%
LONG-TERM ASSETS
Property, Plant & Equipment $98.99M $110.5M
YoY Change -10.45% -20.22%
Goodwill $531.5M $509.5M
YoY Change 4.31% -15.28%
Intangibles $216.0M $230.5M
YoY Change -6.29% -23.0%
Long-Term Investments
YoY Change
Other Assets $25.43M $22.32M
YoY Change 13.96% 4.35%
Total Long-Term Assets $871.9M $872.9M
YoY Change -0.11% -17.71%
TOTAL ASSETS
Total Short-Term Assets $618.3M $548.8M
Total Long-Term Assets $871.9M $872.9M
Total Assets $1.490B $1.422B
YoY Change 4.82% -12.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $141.7M $119.7M
YoY Change 18.45% -3.79%
Accrued Expenses $37.80M $43.20M
YoY Change -12.5% 2.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $30.00M $22.50M
YoY Change 33.33% -400.0%
Total Short-Term Liabilities $343.9M $247.9M
YoY Change 38.73% 2.23%
LONG-TERM LIABILITIES
Long-Term Debt $524.6M $554.4M
YoY Change -5.36% -4.51%
Other Long-Term Liabilities $56.27M $56.82M
YoY Change -0.98% 2.23%
Total Long-Term Liabilities $580.9M $611.2M
YoY Change -4.96% -3.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $343.9M $247.9M
Total Long-Term Liabilities $580.9M $611.2M
Total Liabilities $973.9M $911.6M
YoY Change 6.83% -4.95%
SHAREHOLDERS EQUITY
Retained Earnings $1.196B $1.265B
YoY Change -5.4% -8.54%
Common Stock $162.0M $141.1M
YoY Change 14.79% 15.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $617.7M $617.7M
YoY Change 0.0% 2.05%
Treasury Stock Shares 20.44M shares 20.44M shares
Shareholders Equity $516.3M $510.1M
YoY Change
Total Liabilities & Shareholders Equity $1.490B $1.422B
YoY Change 4.82% -12.43%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $5.226M $4.965M
YoY Change 5.26% -67.86%
Depreciation, Depletion And Amortization $10.09M $10.90M
YoY Change -7.4% -12.64%
Cash From Operating Activities -$20.46M $12.46M
YoY Change -264.15% -41.5%
INVESTING ACTIVITIES
Capital Expenditures -$7.900M -$5.100M
YoY Change 54.9% -7.27%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$27.70M $100.0K
YoY Change -27800.0% -88.89%
Cash From Investing Activities -$35.59M -$5.009M
YoY Change 610.52% 8.37%
FINANCING ACTIVITIES
Cash Dividend Paid $2.390M $2.358M
YoY Change 1.36% -0.76%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$7.941M -$5.367M
YoY Change 47.96% -24.65%
NET CHANGE
Cash From Operating Activities -$20.46M $12.46M
Cash From Investing Activities -$35.59M -$5.009M
Cash From Financing Activities -$7.941M -$5.367M
Net Change In Cash -$63.99M $2.087M
YoY Change -3166.08% -78.17%
FREE CASH FLOW
Cash From Operating Activities -$20.46M $12.46M
Capital Expenditures -$7.900M -$5.100M
Free Cash Flow -$12.56M $17.56M
YoY Change -171.5% -34.48%

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IncrementalCommonSharesAttributableToConversionOfDebtSecurities
644000 shares
CY2017Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
738000 shares
CY2017Q3 us-gaap Intangible Assets Gross Excluding Goodwill
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413149000 USD
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
414718000 USD
CY2017Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
220489000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
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524629000 USD
CY2017Q3 us-gaap Machinery And Equipment Gross
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227535000 USD
CY2017Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
233375000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
216032000 USD
CY2017Q3 us-gaap Inventory Net
InventoryNet
143651000 USD
CY2017Q4 us-gaap Inventory Net
InventoryNet
154246000 USD
CY2017Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2017Q3 us-gaap Letters Of Credit Outstanding Amount
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14500000 USD
CY2017Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
14300000 USD
CY2017Q3 us-gaap Liabilities
Liabilities
1016416000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
973923000 USD
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1516955000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1490241000 USD
CY2017Q3 us-gaap Liabilities Current
LiabilitiesCurrent
378934000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
343919000 USD
CY2017Q3 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
101083000 USD
CY2017Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
70787000 USD
CY2017Q3 us-gaap Long Term Debt
LongTermDebt
565059000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
557559000 USD
CY2017Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
30000000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
30000000 USD
CY2017Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
531940000 USD
CY2016Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5367000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Financing Activities
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-7941000 USD
CY2016Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2017Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2016Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12463000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
4965000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
5226000 USD
CY2017Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
8471000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
14673000 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
24938000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25431000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-26658000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2898000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-26122000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3025000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-536000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-127000 USD
CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
57445000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
56975000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
55821000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
56269000 USD
CY2016Q4 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-464000 USD
CY2017Q4 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-113000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
628000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-329000 USD
CY2016Q4 us-gaap Payments For Restructuring
PaymentsForRestructuring
2729000 USD
CY2017Q4 us-gaap Payments For Restructuring
PaymentsForRestructuring
2764000 USD
CY2016Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
2358000 USD
CY2017Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
2390000 USD
CY2016Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
223000 USD
CY2017Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
282000 USD
CY2016Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5139000 USD
CY2017Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
7904000 USD
CY2017Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
19862000 USD
CY2017Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
19539000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
61663000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
76330000 USD
CY2016Q4 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-3750000 USD
CY2017Q4 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-7500000 USD
CY2016Q4 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
130000 USD
CY2017Q4 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
32000 USD
CY2016Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
964000 USD
CY2017Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2231000 USD
CY2016Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5592000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3955000 USD
CY2017Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6616000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6994000 USD
CY2016Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2309000 USD
CY2017Q4 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1145000 USD
CY2016Q4 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
777000 USD
CY2017Q4 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1531000 USD
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
271272000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
280065000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
94521000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
98988000 USD
CY2016Q4 us-gaap Restructuring Charges
RestructuringCharges
2948000 USD
CY2017Q4 us-gaap Restructuring Charges
RestructuringCharges
6629000 USD
CY2016Q3 us-gaap Restructuring Reserve
RestructuringReserve
6273000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
6282000 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
5637000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
6842000 USD
CY2016Q4 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
188000 USD
CY2017Q4 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
2497000 USD
CY2016Q4 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-22000 USD
CY2017Q4 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-163000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1191042000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1196268000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
265793000 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
288955000 USD
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
9554000 USD
CY2017Q4 us-gaap Share Based Compensation
ShareBasedCompensation
5420000 USD
CY2016Q4 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-105000 USD
CY2017Q4 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-8000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
617700000 USD
CY2017Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
7560566 shares
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
500539000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
516318000 USD
CY2017Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
6080000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
6642000 USD
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
20439434 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
20439434 shares
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
617731000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
617731000 USD
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59616000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60609000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58972000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59871000 shares

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