2019 Q1 Form 10-Q Financial Statement

#000105628819000010 Filed on May 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $307.1M $263.9M
YoY Change 16.37% -3.53%
Cost Of Revenue $10.50M $9.600M
YoY Change 9.38% 43.28%
Gross Profit $296.6M $254.2M
YoY Change 16.68% -4.72%
Gross Profit Margin 96.6% 96.34%
Selling, General & Admin $221.0M $172.9M
YoY Change 27.82% -6.64%
% of Gross Profit 74.51% 68.02%
Research & Development $12.79M $8.433M
YoY Change 51.71% 2.53%
% of Gross Profit 4.31% 3.32%
Depreciation & Amortization $7.200M $2.600M
YoY Change 176.92% 0.0%
% of Gross Profit 2.43% 1.02%
Operating Expenses $236.2M $184.2M
YoY Change 28.22% -5.9%
Operating Profit $70.89M $79.67M
YoY Change -11.02% 2.44%
Interest Expense $1.300M -$600.0K
YoY Change -316.67% -119.35%
% of Operating Profit 1.83% -0.75%
Other Income/Expense, Net $1.633M -$755.0K
YoY Change -316.29% -124.26%
Pretax Income $72.52M $78.92M
YoY Change -8.1% -2.43%
Income Tax $17.91M $18.91M
% Of Pretax Income 24.7% 23.96%
Net Earnings $54.55M $60.33M
YoY Change -9.59% 21.53%
Net Earnings / Revenue 17.76% 22.87%
Basic Earnings Per Share
Diluted Earnings Per Share $561.9K $620.4K
COMMON SHARES
Basic Shares Outstanding 96.99M shares 97.19M shares
Diluted Shares Outstanding 97.00M shares 97.19M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $162.1M $377.6M
YoY Change -57.07% 35.97%
Cash & Equivalents $134.5M $325.6M
Short-Term Investments $27.60M $51.90M
Other Short-Term Assets $2.263M $1.996M
YoY Change 13.38% -11.25%
Inventory
Prepaid Expenses $17.18M $11.40M
Receivables $48.71M $50.06M
Other Receivables $48.10M $0.00
Total Short-Term Assets $278.4M $441.0M
YoY Change -36.88% 31.46%
LONG-TERM ASSETS
Property, Plant & Equipment $53.98M $38.70M
YoY Change 39.49% -0.1%
Goodwill $813.9M $660.0M
YoY Change 23.31% 0.0%
Intangibles $342.9M
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.87M $18.84M
YoY Change 95.65% -13.0%
Total Long-Term Assets $1.357B $794.3M
YoY Change 70.82% -0.43%
TOTAL ASSETS
Total Short-Term Assets $278.4M $441.0M
Total Long-Term Assets $1.357B $794.3M
Total Assets $1.635B $1.235B
YoY Change 32.37% 9.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.40M $54.20M
YoY Change 13.28% 11.07%
Accrued Expenses $54.30M $27.10M
YoY Change 100.37% 8.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $131.7M $99.64M
YoY Change 32.17% -21.9%
LONG-TERM LIABILITIES
Long-Term Debt $130.0M $165.0M
YoY Change -21.21% 3.51%
Other Long-Term Liabilities $19.13M $20.58M
YoY Change -7.03% 0.86%
Total Long-Term Liabilities $419.5M $307.4M
YoY Change 36.47% -15.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.7M $99.64M
Total Long-Term Liabilities $419.5M $307.4M
Total Liabilities $551.2M $407.1M
YoY Change 35.42% -16.98%
SHAREHOLDERS EQUITY
Retained Earnings $807.3M $721.8M
YoY Change 11.84% 33.62%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $897.7M $799.6M
YoY Change
Total Liabilities & Shareholders Equity $1.635B $1.235B
YoY Change 32.37% 9.01%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $54.55M $60.33M
YoY Change -9.59% 21.53%
Depreciation, Depletion And Amortization $7.200M $2.600M
YoY Change 176.92% 0.0%
Cash From Operating Activities $16.76M $48.10M
YoY Change -65.16% 44.78%
INVESTING ACTIVITIES
Capital Expenditures $5.060M $3.106M
YoY Change 62.91% 45.62%
Acquisitions $0.00 $0.00
YoY Change -100.0%
Other Investing Activities -$400.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$5.441M -$3.089M
YoY Change 76.14% -160.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.485M $4.024M
YoY Change -63.1% -72.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$35.92M -$35.60M
YoY Change 0.9% -26.67%
NET CHANGE
Cash From Operating Activities $16.76M $48.10M
Cash From Investing Activities -$5.441M -$3.089M
Cash From Financing Activities -$35.92M -$35.60M
Net Change In Cash -$22.34M $9.407M
YoY Change -337.46% -192.16%
FREE CASH FLOW
Cash From Operating Activities $16.76M $48.10M
Capital Expenditures $5.060M $3.106M
Free Cash Flow $11.70M $44.99M
YoY Change -74.0% 44.73%

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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;"></font><font style="font-family:inherit;font-size:12pt;color:#000000;font-style:italic;text-decoration:none;">Basis of Presentation</font><font style="font-family:inherit;font-size:12pt;font-style:italic;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Federated Investors, Inc. and its consolidated subsidiaries, including Hermes Fund Managers Limited (</font><font style="font-family:inherit;font-size:10pt;">Hermes</font><font style="font-family:inherit;font-size:10pt;">) beginning </font><font style="font-family:inherit;font-size:10pt;">July&#160;1, 2018</font><font style="font-family:inherit;font-size:10pt;">, (collectively, </font><font style="font-family:inherit;font-size:10pt;">Federated</font><font style="font-family:inherit;font-size:10pt;">) provides investment advisory, administrative, distribution and other services to various investment products, including sponsored investment companies and other funds (</font><font style="font-family:inherit;font-size:10pt;">Federated Funds</font><font style="font-family:inherit;font-size:10pt;">) and </font><font style="font-family:inherit;font-size:10pt;">Separate Accounts</font><font style="font-family:inherit;font-size:10pt;"> (which include separately managed accounts, institutional accounts, sub-advised funds and other managed products) in both domestic and international markets, as well as </font><font style="font-family:inherit;font-size:10pt;">stewardship services</font><font style="font-family:inherit;font-size:10pt;"> to various companies. The interim Consolidated Financial Statements of </font><font style="font-family:inherit;font-size:10pt;">Federated</font><font style="font-family:inherit;font-size:10pt;"> included herein have been prepared in accordance with </font><font style="font-family:inherit;font-size:10pt;">U.S.</font><font style="font-family:inherit;font-size:10pt;"> generally accepted accounting principles (</font><font style="font-family:inherit;font-size:10pt;">GAAP</font><font style="font-family:inherit;font-size:10pt;">). In the opinion of management, the financial statements reflect all adjustments that are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods presented.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In preparing the financial statements, management is required to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from those estimates, and such differences may be material to the Consolidated Financial Statements. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These financial statements should be read in conjunction with Federated's Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. Certain items previously reported have been reclassified to conform to the current period's presentation.</font></div></div>

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