2018 Q4 Form 10-K Financial Statement

#000104734019000023 Filed on February 19, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4 2017 Q3
Revenue $1.046B $953.7M $952.7M
YoY Change 9.67% -0.09% 0.26%
Cost Of Revenue $1.004B $902.7M $894.4M
YoY Change 11.17% 0.51% 7.58%
Gross Profit $42.40M $51.00M $58.30M
YoY Change -16.86% -9.73% -50.93%
Gross Profit Margin 4.05% 5.35% 6.12%
Selling, General & Admin $46.80M $42.20M $41.20M
YoY Change 10.9% -9.83% -15.92%
% of Gross Profit 110.38% 82.75% 70.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.00M $19.70M $20.20M
YoY Change 42.13% -5.74% 6.32%
% of Gross Profit 66.04% 38.63% 34.65%
Operating Expenses $46.80M $42.20M $41.20M
YoY Change 10.9% -9.83% -15.92%
Operating Profit -$4.400M $8.800M $16.70M
YoY Change -150.0% -9.28% -62.13%
Interest Expense -$6.600M -$1.900M $1.400M
YoY Change 247.37% 46.15% 180.0%
% of Operating Profit -21.59% 8.38%
Other Income/Expense, Net -$2.600M -$1.400M -$1.000M
YoY Change 85.71% -70.21% -50.0%
Pretax Income -$29.60M -$700.0K $14.70M
YoY Change 4128.57% -77.42% -64.83%
Income Tax $2.700M $3.900M $4.200M
% Of Pretax Income 28.57%
Net Earnings -$34.00M -$6.300M $11.50M
YoY Change 439.68% -152.5% -67.33%
Net Earnings / Revenue -3.25% -0.66% 1.21%
Basic Earnings Per Share -$0.70 -$0.13 $0.23
Diluted Earnings Per Share -$0.70 -$0.13 $0.23
COMMON SHARES
Basic Shares Outstanding 48.38M shares 49.74M shares 49.98M shares
Diluted Shares Outstanding 50.25M shares

Balance Sheet

Concept 2018 Q4 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.30M $25.10M $29.90M
YoY Change -15.14% 24.88% -30.14%
Cash & Equivalents $21.30M $25.10M $29.90M
Short-Term Investments
Other Short-Term Assets $78.70M $20.50M $32.50M
YoY Change 283.9% -42.42% -21.12%
Inventory $565.3M $541.8M $507.5M
Prepaid Expenses
Receivables $378.3M $358.8M $341.7M
Other Receivables $95.20M $73.60M $65.30M
Total Short-Term Assets $1.139B $1.020B $976.9M
YoY Change 11.67% 6.11% 4.69%
LONG-TERM ASSETS
Property, Plant & Equipment $1.392B $1.328B $1.322B
YoY Change 4.81% 4.43% 5.58%
Goodwill $423.4M $261.9M $261.7M
YoY Change 61.66% 0.38% 0.11%
Intangibles $198.8M $89.20M
YoY Change 122.87% 102.73%
Long-Term Investments $5.700M $1.600M $1.900M
YoY Change 256.25% 0.0% -5.0%
Other Assets $59.70M $49.90M $97.60M
YoY Change 19.64% -45.23% 6.55%
Total Long-Term Assets $2.116B $1.747B $1.744B
YoY Change 21.14% 3.24% 4.66%
TOTAL ASSETS
Total Short-Term Assets $1.139B $1.020B $976.9M
Total Long-Term Assets $2.116B $1.747B $1.744B
Total Assets $3.255B $2.767B $2.721B
YoY Change 17.65% 4.28% 4.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $575.8M $381.0M $350.9M
YoY Change 51.13% 5.69% 5.06%
Accrued Expenses $55.10M $18.80M
YoY Change 193.09% 9.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $600.0K $500.0K
YoY Change -16.67% 0.0% 0.0%
Total Short-Term Liabilities $586.0M $393.8M $369.6M
YoY Change 48.81% 6.69% -1.49%
LONG-TERM LIABILITIES
Long-Term Debt $661.9M $357.0M $279.8M
YoY Change 85.41% 54.08% 45.81%
Other Long-Term Liabilities $53.40M $42.40M $41.80M
YoY Change 25.94% -16.54% -15.9%
Total Long-Term Liabilities $53.40M $42.40M $41.80M
YoY Change 25.94% -16.54% -15.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $586.0M $393.8M $369.6M
Total Long-Term Liabilities $53.40M $42.40M $41.80M
Total Liabilities $1.486B $975.7M $877.2M
YoY Change 52.26% 16.59% 18.73%
SHAREHOLDERS EQUITY
Retained Earnings $1.206B $1.275B $1.322B
YoY Change -5.41% -0.84% 0.91%
Common Stock $527.6M $523.0M $533.0M
YoY Change 0.88% -4.94% -4.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.692B $1.767B $1.819B
YoY Change
Total Liabilities & Shareholders Equity $3.255B $2.767B $2.721B
YoY Change 17.65% 4.28% 4.67%

Cashflow Statement

Concept 2018 Q4 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$34.00M -$6.300M $11.50M
YoY Change 439.68% -152.5% -67.33%
Depreciation, Depletion And Amortization $28.00M $19.70M $20.20M
YoY Change 42.13% -5.74% 6.32%
Cash From Operating Activities -$24.00M $10.00M $10.30M
YoY Change -340.0% 185.71% -94.15%
INVESTING ACTIVITIES
Capital Expenditures -$31.40M -$35.70M -$30.90M
YoY Change -12.04% -26.09% -6.93%
Acquisitions
YoY Change
Other Investing Activities $22.60M $700.0K $1.100M
YoY Change 3128.57% -240.0% -1200.0%
Cash From Investing Activities -$8.800M -$35.00M -$29.80M
YoY Change -74.86% -28.28% -10.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.60M 21.70M 25.00M
YoY Change 22.58% -48.7% -118.81%
NET CHANGE
Cash From Operating Activities -24.00M 10.00M 10.30M
Cash From Investing Activities -8.800M -35.00M -29.80M
Cash From Financing Activities 26.60M 21.70M 25.00M
Net Change In Cash -6.200M -3.300M 5.500M
YoY Change 87.88% 10.0% -43.88%
FREE CASH FLOW
Cash From Operating Activities -$24.00M $10.00M $10.30M
Capital Expenditures -$31.40M -$35.70M -$30.90M
Free Cash Flow $7.400M $45.70M $41.20M
YoY Change -83.81% -11.78% -80.31%

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CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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0 USD
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CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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3600000 USD
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900000 USD
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CY2018 us-gaap Income Tax Reconciliation Other Adjustments
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2200000 USD
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100000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Settlements
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400000 USD
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CY2017 us-gaap Income Taxes Paid Net
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21100000 USD
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11800000 USD
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49400000 USD
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2800000 USD
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500000 USD
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7600000 USD
CY2018 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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5900000 USD
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CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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7600000 USD
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16900000 USD
CY2018 us-gaap Increase Decrease In Receivables
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2400000 USD
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CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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700000 USD
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800000 USD
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2000000 USD
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6100000 USD
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0 USD
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0 USD
CY2018 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
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31500000 USD
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1700000 USD
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1600000 USD
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18700000 USD
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5700000 USD
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5100000 USD
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CY2018Q4 us-gaap Price Risk Derivative Assets At Fair Value
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30100000 USD
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5600000 USD
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45000000 USD
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0 USD
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0 USD
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4200000 USD
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1700000 USD
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9000000 USD
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CY2018 us-gaap Payments To Acquire Businesses Gross
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357500000 USD
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0 shares
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4700000 USD
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17400000 USD
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12200000 USD
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300000 USD
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9500000 USD
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9300000 USD
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8900000 USD
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798600000 USD
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21200000 USD
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1600000 USD
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800000 USD
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45600000 USD
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69800000 USD
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10500000 USD
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CY2017 us-gaap Profit Loss
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119200000 USD
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43200000 USD
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2230500000 USD
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2343200000 USD
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1328300000 USD
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1392200000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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0 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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51800000 USD
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500000 USD
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0 USD
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27200000 USD
CY2017 us-gaap Restructuring Settlement And Impairment Provisions
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our Consolidated Financial Statements in accordance with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates.</font></div></div>

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