2016 Q3 Form 10-Q Financial Statement

#000003778516000111 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $628.8M $830.7M
YoY Change -24.3% 1.42%
Cost Of Revenue $414.2M $610.4M
YoY Change -32.14% 13.97%
Gross Profit $214.6M $220.3M
YoY Change -2.59% -22.29%
Gross Profit Margin 34.13% 26.52%
Selling, General & Admin $99.90M $137.0M
YoY Change -27.08% -2.63%
% of Gross Profit 46.55% 62.19%
Research & Development $30.60M $37.20M
YoY Change -17.74% 23.18%
% of Gross Profit 14.26% 16.89%
Depreciation & Amortization $25.60M $38.00M
YoY Change -32.63% 17.65%
% of Gross Profit 11.93% 17.25%
Operating Expenses $130.5M $174.2M
YoY Change -25.09% 1.93%
Operating Profit $70.00M $500.0K
YoY Change 13900.0% -99.29%
Interest Expense -$15.00M -$20.20M
YoY Change -25.74% -40.76%
% of Operating Profit -21.43% -4040.0%
Other Income/Expense, Net -$200.0K $26.60M
YoY Change -100.75% -256.47%
Pretax Income $55.00M -$19.70M
YoY Change -379.19% -122.39%
Income Tax $6.500M -$25.10M
% Of Pretax Income 11.82%
Net Earnings $79.70M -$2.400M
YoY Change -3420.83% -104.26%
Net Earnings / Revenue 12.67% -0.29%
Basic Earnings Per Share $0.59 -$0.02
Diluted Earnings Per Share $0.59 -$0.02
COMMON SHARES
Basic Shares Outstanding 134.0M shares 133.8K shares
Diluted Shares Outstanding 134.7M shares 134.4K shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $131.0M $174.0M
YoY Change -24.71% 40.32%
Cash & Equivalents $130.7M $173.7M
Short-Term Investments
Other Short-Term Assets $252.0M $469.0M
YoY Change -46.27% 15.52%
Inventory $817.4M $906.1M
Prepaid Expenses
Receivables $1.603B $1.690B
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.804B $3.238B
YoY Change -13.4% 13.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.031B $1.083B
YoY Change -4.78% -15.62%
Goodwill $798.6M $733.5M
YoY Change 8.88% 98.78%
Intangibles $849.2M $847.7M
YoY Change 0.18% 230.49%
Long-Term Investments $1.000M $4.000M
YoY Change -75.0% -84.62%
Other Assets $457.2M $333.1M
YoY Change 37.26% -1.68%
Total Long-Term Assets $3.406B $3.209B
YoY Change 6.13% 34.05%
TOTAL ASSETS
Total Short-Term Assets $2.804B $3.238B
Total Long-Term Assets $3.406B $3.209B
Total Assets $6.210B $6.447B
YoY Change -3.68% 22.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $371.6M $484.2M
YoY Change -23.25% 10.05%
Accrued Expenses $331.9M $349.3M
YoY Change -4.98% 24.53%
Deferred Revenue
YoY Change
Short-Term Debt $60.80M $119.8M
YoY Change -49.25% -78.67%
Long-Term Debt Due $2.400M $1.400M
YoY Change 71.43% -92.51%
Total Short-Term Liabilities $1.309B $1.455B
YoY Change -10.05% -16.45%
LONG-TERM LIABILITIES
Long-Term Debt $1.913B $2.049B
YoY Change -6.6% 77.84%
Other Long-Term Liabilities $301.5M $213.1M
YoY Change 41.48% -9.2%
Total Long-Term Liabilities $2.215B $2.262B
YoY Change -2.07% 63.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.309B $1.455B
Total Long-Term Liabilities $2.215B $2.262B
Total Liabilities $3.524B $3.717B
YoY Change -5.19% 18.81%
SHAREHOLDERS EQUITY
Retained Earnings $3.512B $3.611B
YoY Change -2.75% 23.32%
Common Stock $450.4M $434.0M
YoY Change 3.78% -5.26%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.496B $1.499B
YoY Change -0.16% -0.03%
Treasury Stock Shares 52.14M shares 52.36M shares
Shareholders Equity $2.084B $2.114B
YoY Change
Total Liabilities & Shareholders Equity $6.210B $6.447B
YoY Change -3.68% 22.77%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $79.70M -$2.400M
YoY Change -3420.83% -104.26%
Depreciation, Depletion And Amortization $25.60M $38.00M
YoY Change -32.63% 17.65%
Cash From Operating Activities $163.6M -$137.9M
YoY Change -218.64% -259.24%
INVESTING ACTIVITIES
Capital Expenditures -$34.50M -$22.20M
YoY Change 55.41% -57.31%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $25.20M
YoY Change -111.9% -214.03%
Cash From Investing Activities -$37.50M $3.000M
YoY Change -1350.0% -104.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -89.30M -165.9M
YoY Change -46.17% 11750.0%
NET CHANGE
Cash From Operating Activities 163.6M -137.9M
Cash From Investing Activities -37.50M 3.000M
Cash From Financing Activities -89.30M -165.9M
Net Change In Cash 36.80M -300.8M
YoY Change -112.23% -2809.91%
FREE CASH FLOW
Cash From Operating Activities $163.6M -$137.9M
Capital Expenditures -$34.50M -$22.20M
Free Cash Flow $198.1M -$115.7M
YoY Change -271.22% -183.48%

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us-gaap Income Loss From Equity Method Investments
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us-gaap Interest Revenue Expense Net
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255100000 USD
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2500000 USD
CY2016Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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1100000 USD
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Pension And Other Postretirement Benefit Contributions
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Research And Development Expense Excluding Acquired In Process Cost
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
590900000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
117800000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
373400000 USD
CY2015Q3 us-gaap Severance Costs1
SeveranceCosts1
14100000 USD
us-gaap Severance Costs1
SeveranceCosts1
23700000 USD
CY2016Q3 us-gaap Severance Costs1
SeveranceCosts1
3000000 USD
us-gaap Severance Costs1
SeveranceCosts1
8500000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15600000 USD
CY2015Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
87200000 USD
CY2016Q3 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
60800000 USD
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
111100000 USD
CY2016Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
60800000 USD
CY2016Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
250000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1600000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1865700000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
2084300000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1908300000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2120700000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
52328015 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
52144997 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1498300000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1496400000 USD
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
611000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
725000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
601000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134375000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
133679000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134698000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134491000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133764000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133679000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133973000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133890000 shares

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