2017 Q2 Form 10-Q Financial Statement

#000003778517000048 Filed on August 02, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $656.8M $615.3M
YoY Change 6.74% -30.64%
Cost Of Revenue $422.4M $379.9M
YoY Change 11.19% -34.65%
Gross Profit $204.0M $235.4M
YoY Change -13.34% -23.02%
Gross Profit Margin 31.06% 38.26%
Selling, General & Admin $130.5M $110.6M
YoY Change 17.99% -29.1%
% of Gross Profit 63.97% 46.98%
Research & Development $32.00M $33.20M
YoY Change -3.61% -14.87%
% of Gross Profit 15.69% 14.1%
Depreciation & Amortization $22.50M $24.70M
YoY Change -8.91% -21.34%
% of Gross Profit 11.03% 10.49%
Operating Expenses $162.5M $143.8M
YoY Change 13.0% -26.26%
Operating Profit $43.40M $82.50M
YoY Change -47.39% -17.91%
Interest Expense -$17.10M -$15.20M
YoY Change 12.5% -8.43%
% of Operating Profit -39.4% -18.42%
Other Income/Expense, Net $4.100M -$700.0K
YoY Change -685.71%
Pretax Income $52.00M $67.30M
YoY Change -22.73% -11.33%
Income Tax $3.300M $20.50M
% Of Pretax Income 6.35% 30.46%
Net Earnings $74.70M $65.20M
YoY Change 14.57% -91.22%
Net Earnings / Revenue 11.37% 10.6%
Basic Earnings Per Share $0.56 $0.49
Diluted Earnings Per Share $0.56 $0.49
COMMON SHARES
Basic Shares Outstanding 134.2M shares 133.9M shares
Diluted Shares Outstanding 135.6M shares 134.6M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.0M $94.00M
YoY Change 20.21% -80.33%
Cash & Equivalents $113.2M $93.60M
Short-Term Investments
Other Short-Term Assets $1.384B $296.0M
YoY Change 367.57% -29.69%
Inventory $546.3M $881.9M
Prepaid Expenses
Receivables $1.442B $1.628B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.486B $2.899B
YoY Change 20.24% -23.82%
LONG-TERM ASSETS
Property, Plant & Equipment $538.3M $1.026B
YoY Change -47.53% -7.81%
Goodwill $501.0M $795.0M
YoY Change -36.98% 9.07%
Intangibles $763.6M $851.7M
YoY Change -10.34% 0.98%
Long-Term Investments $1.000M $3.000M
YoY Change -66.67% -40.0%
Other Assets $457.1M $430.4M
YoY Change 6.2% 28.86%
Total Long-Term Assets $2.499B $3.383B
YoY Change -26.15% 3.47%
TOTAL ASSETS
Total Short-Term Assets $3.486B $2.899B
Total Long-Term Assets $2.499B $3.383B
Total Assets $5.984B $6.282B
YoY Change -4.74% -11.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $433.5M $440.4M
YoY Change -1.57% -23.86%
Accrued Expenses $283.4M $320.5M
YoY Change -11.58% -3.0%
Deferred Revenue
YoY Change
Short-Term Debt $91.30M $50.80M
YoY Change 79.72% -80.95%
Long-Term Debt Due $101.2M $2.400M
YoY Change 4116.67% 41.18%
Total Short-Term Liabilities $1.542B $1.354B
YoY Change 13.87% -31.63%
LONG-TERM LIABILITIES
Long-Term Debt $1.592B $1.989B
YoY Change -19.94% -3.02%
Other Long-Term Liabilities $292.1M $304.7M
YoY Change -4.14% 38.0%
Total Long-Term Liabilities $1.884B $2.294B
YoY Change -17.84% 0.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.542B $1.354B
Total Long-Term Liabilities $1.884B $2.294B
Total Liabilities $3.426B $3.648B
YoY Change -6.07% -14.22%
SHAREHOLDERS EQUITY
Retained Earnings $3.412B $3.454B
YoY Change -1.23% -4.99%
Common Stock $455.3M $446.4M
YoY Change 1.99% 3.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.502B $1.497B
YoY Change 0.34% 0.02%
Treasury Stock Shares 51.86M shares 52.17M shares
Shareholders Equity $2.012B $1.997B
YoY Change
Total Liabilities & Shareholders Equity $5.984B $6.282B
YoY Change -4.74% -11.21%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $74.70M $65.20M
YoY Change 14.57% -91.22%
Depreciation, Depletion And Amortization $22.50M $24.70M
YoY Change -8.91% -21.34%
Cash From Operating Activities $295.0M $124.5M
YoY Change 136.95% -0.08%
INVESTING ACTIVITIES
Capital Expenditures -$12.20M -$5.800M
YoY Change 110.34% -79.51%
Acquisitions
YoY Change
Other Investing Activities -$20.70M -$9.700M
YoY Change 113.4% -102.17%
Cash From Investing Activities -$32.90M -$15.50M
YoY Change 112.26% -103.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -246.3M -80.10M
YoY Change 207.49% -53.13%
NET CHANGE
Cash From Operating Activities 295.0M 124.5M
Cash From Investing Activities -32.90M -15.50M
Cash From Financing Activities -246.3M -80.10M
Net Change In Cash 15.80M 28.90M
YoY Change -45.33% -92.25%
FREE CASH FLOW
Cash From Operating Activities $295.0M $124.5M
Capital Expenditures -$12.20M -$5.800M
Free Cash Flow $307.2M $130.3M
YoY Change 135.76% -14.78%

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1300000 USD
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us-gaap Severance Costs1
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CY2017Q2 us-gaap Severance Costs1
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0 USD
us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11200000 USD
CY2016Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
85500000 USD
CY2017Q2 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
91300000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
91800000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
91300000 USD
CY2017Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
238800000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1500000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1957700000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
2011900000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1993000000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2026700000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
52293686 shares
CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
51855400 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1506600000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
1501700000 USD
CY2016Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
647000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
570000 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1366000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1233000 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134576000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
134435000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135603000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135328000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133929000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
133865000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134237000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134095000 shares

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