2012 Q4 Form 10-Q Financial Statement

#000110465912076515 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $232.0M $222.6M $232.3M
YoY Change -0.67% -4.15% 14.59%
Cost Of Revenue $91.40M $92.00M $83.10M
YoY Change 681.2% 10.71% -8.28%
Gross Profit $127.9M $134.8M $137.1M
YoY Change 116.05% -1.68% 22.3%
Gross Profit Margin 55.14% 60.55% 59.02%
Selling, General & Admin $11.90M $12.60M $9.400M
YoY Change 205.13% 34.04% -9.62%
% of Gross Profit 9.3% 9.35% 6.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.10M $52.35M $56.39M
YoY Change 16.09% -7.16% 21.01%
% of Gross Profit 52.46% 38.84% 41.13%
Operating Expenses $67.00M $64.90M $56.60M
YoY Change 303.61% 14.66% -1.05%
Operating Profit $60.90M $68.81M $54.97M
YoY Change 42.96% 25.19% 0.13%
Interest Expense -$42.50M $50.74M $49.42M
YoY Change -2.52% 2.66% -312.12%
% of Operating Profit -69.79% 73.73% 89.91%
Other Income/Expense, Net
YoY Change
Pretax Income $17.80M $21.12M $20.12M
YoY Change 256.0% 4.98% -61.38%
Income Tax $1.300M $1.322M $307.0K
% Of Pretax Income 7.3% 6.26% 1.53%
Net Earnings -$152.8M $17.62M $28.54M
YoY Change -1125.5% -38.26% -56.63%
Net Earnings / Revenue -65.87% 7.91% 12.28%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.823M $210.3K $515.4K
COMMON SHARES
Basic Shares Outstanding 83.80M shares 83.73M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.2M $72.70M $210.7M
YoY Change -46.99% -65.5% 20.61%
Cash & Equivalents $102.2M $72.68M $210.7M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $253.4M $246.3M $212.7M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $355.6M $319.0M $423.4M
YoY Change -13.35% -24.66% 13.33%
LONG-TERM ASSETS
Property, Plant & Equipment $6.822B $6.818B $6.260B
YoY Change 8.11% 8.91% 14.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $184.7M $179.0M $178.7M
YoY Change 4.08% 0.17% 2.88%
Other Assets $188.5M $13.60M $53.70M
YoY Change 2286.08% -74.67% 248.7%
Total Long-Term Assets $7.834B $7.628B $7.035B
YoY Change 11.33% 8.43% 17.24%
TOTAL ASSETS
Total Short-Term Assets $355.6M $319.0M $423.4M
Total Long-Term Assets $7.834B $7.628B $7.035B
Total Assets $8.190B $7.947B $7.458B
YoY Change 9.97% 6.55% 17.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $194.2M $143.2M $148.5M
YoY Change 22.68% -3.57% 36.49%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $218.1M $167.4M $172.2M
YoY Change 19.77% -2.79% 30.75%
LONG-TERM LIABILITIES
Long-Term Debt $4.350B $4.151B $3.557B
YoY Change 21.59% 16.72% 25.82%
Other Long-Term Liabilities $120.3M $128.4M $137.1M
YoY Change 1.01% -6.35% 35.07%
Total Long-Term Liabilities $4.470B $4.279B $3.694B
YoY Change 20.93% 15.86% 26.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $218.1M $167.4M $172.2M
Total Long-Term Liabilities $4.470B $4.279B $3.694B
Total Liabilities $4.688B $4.447B $3.866B
YoY Change 20.88% 15.03% 26.34%
SHAREHOLDERS EQUITY
Retained Earnings $2.387B $2.540B
YoY Change -3.84%
Common Stock $3.586B $3.587B
YoY Change -0.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.105B $3.289B $3.592B
YoY Change
Total Liabilities & Shareholders Equity $8.190B $7.947B $7.458B
YoY Change 9.97% 6.55% 17.01%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$152.8M $17.62M $28.54M
YoY Change -1125.5% -38.26% -56.63%
Depreciation, Depletion And Amortization $67.10M $52.35M $56.39M
YoY Change 16.09% -7.16% 21.01%
Cash From Operating Activities $90.40M $47.70M $61.90M
YoY Change 28.96% -22.94% -0.48%
INVESTING ACTIVITIES
Capital Expenditures -$241.8M -$135.8M -$250.5M
YoY Change 1235.91% -45.79% 24.26%
Acquisitions
YoY Change
Other Investing Activities -$42.30M -$22.90M $151.6M
YoY Change 41.47% -115.11% -23.97%
Cash From Investing Activities -$284.1M -$158.7M -$99.00M
YoY Change 493.11% 60.3% 4400.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 223.2M 44.40M 194.8M
YoY Change -643.07% -77.21% 139.9%
NET CHANGE
Cash From Operating Activities 90.40M 47.70M 61.90M
Cash From Investing Activities -284.1M -158.7M -99.00M
Cash From Financing Activities 223.2M 44.40M 194.8M
Net Change In Cash 29.50M -66.60M 157.7M
YoY Change -256.08% -142.23% 11.69%
FREE CASH FLOW
Cash From Operating Activities $90.40M $47.70M $61.90M
Capital Expenditures -$241.8M -$135.8M -$250.5M
Free Cash Flow $332.2M $183.5M $312.4M
YoY Change 276.64% -41.26% 18.42%

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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><u><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold" size="2">Note 2.&#160; Recent Accounting Pronouncements</font></u></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">&#160;</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">In January&#160;2012, we adopted the Financial Accounting Standards Board, or FASB, Accounting Standards Update No.&#160;2011-04, <i>Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S.&#160;GAAP and IFRS</i>.&#160; This update clarified the application of existing fair value measurement requirements.&#160; This update also required reporting entities to disclose additional information regarding fair value measurements categorized within level 3 of the fair value hierarchy.&#160; This update was effective for interim and annual reporting periods beginning after December&#160;15, 2011.&#160; The implementation of this update did not cause any material changes to the disclosures in, or presentation of, our condensed consolidated financial statements.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">&#160;</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">Additionally, in January&#160;2012, we adopted FASB Accounting Standards Update No.&#160;2011-05, <i>Presentation of Comprehensive Income</i>.&#160; This update eliminated the option to report other comprehensive income and its components in the statement of shareholders&#8217; equity.&#160; This update was intended to enhance comparability between entities that report under GAAP and to provide a more consistent method of presenting non-owner transactions that affect an entity&#8217;s equity.&#160; This standard was effective for interim and annual reporting periods beginning after December&#160;15, 2011.&#160; The implementation of this update did not cause any material changes to our condensed consolidated financial statements, other than the presentation of the condensed consolidated statements of comprehensive income.</font></p></td></tr></table>
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