2018 Q1 Form 10-Q Financial Statement

#000010488918000020 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $659.4M $582.7M
YoY Change 13.17% -3.16%
Cost Of Revenue $365.2M $325.7M
YoY Change 12.13% 11.69%
Gross Profit $294.3M $257.0M
YoY Change 14.51% -17.12%
Gross Profit Margin 44.63% 44.1%
Selling, General & Admin $225.0M $225.3M
YoY Change -0.11% -0.44%
% of Gross Profit 76.47% 87.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.03M $21.49M
YoY Change 16.47% -6.67%
% of Gross Profit 8.5% 8.36%
Operating Expenses $225.0M $225.3M
YoY Change -0.11% -0.44%
Operating Profit $44.21M $10.25M
YoY Change 331.23% -71.67%
Interest Expense $8.071M $8.129M
YoY Change -0.71% 2.28%
% of Operating Profit 18.25% 79.28%
Other Income/Expense, Net $9.187M $849.0K
YoY Change 982.1% -94.38%
Pretax Income $56.57M $23.79M
YoY Change 137.81% -60.76%
Income Tax $13.60M $2.700M
% Of Pretax Income 24.04% 11.35%
Net Earnings $42.89M $21.09M
YoY Change 103.41% -44.19%
Net Earnings / Revenue 6.5% 3.62%
Basic Earnings Per Share $7.84 $3.77
Diluted Earnings Per Share $7.78 $3.75
COMMON SHARES
Basic Shares Outstanding 5.436M shares 5.535M shares
Diluted Shares Outstanding 5.473M shares 5.569M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $807.2M $1.089B
YoY Change -25.9% 19.08%
Cash & Equivalents $315.8M $632.8M
Short-Term Investments $491.4M $456.6M
Other Short-Term Assets $72.60M $68.72M
YoY Change 5.64% 16.54%
Inventory $66.90M $35.70M
Prepaid Expenses
Receivables $499.2M $493.8M
Other Receivables $46.70M $47.70M
Total Short-Term Assets $1.521B $1.760B
YoY Change -13.55% 9.62%
LONG-TERM ASSETS
Property, Plant & Equipment $258.7M $243.3M
YoY Change 6.31% 8.15%
Goodwill $1.301B $1.179B
YoY Change 10.35% -0.13%
Intangibles
YoY Change
Long-Term Investments $131.9M $60.30M
YoY Change 118.74% -0.5%
Other Assets $123.6M $73.79M
YoY Change 67.54% 8.93%
Total Long-Term Assets $3.240B $2.656B
YoY Change 21.96% -1.88%
TOTAL ASSETS
Total Short-Term Assets $1.521B $1.760B
Total Long-Term Assets $3.240B $2.656B
Total Assets $4.761B $4.416B
YoY Change 7.81% 2.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $435.5M $444.7M
YoY Change -2.07% 11.43%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $406.7M $6.200M
YoY Change 6459.68%
Total Short-Term Liabilities $1.153B $779.0M
YoY Change 47.96% 5.87%
LONG-TERM LIABILITIES
Long-Term Debt $91.08M $487.2M
YoY Change -81.31% 21.82%
Other Long-Term Liabilities $63.71M $67.85M
YoY Change -6.1% -3.79%
Total Long-Term Liabilities $154.8M $555.0M
YoY Change -72.11% 17.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.153B $779.0M
Total Long-Term Liabilities $154.8M $555.0M
Total Liabilities $1.871B $1.935B
YoY Change -3.31% 4.85%
SHAREHOLDERS EQUITY
Retained Earnings $5.799B $5.596B
YoY Change 3.62% 2.27%
Common Stock $20.00M $20.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.882B $3.753B
YoY Change 3.42% 0.63%
Treasury Stock Shares
Shareholders Equity $2.885B $2.481B
YoY Change
Total Liabilities & Shareholders Equity $4.761B $4.416B
YoY Change 7.81% 2.4%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $42.89M $21.09M
YoY Change 103.41% -44.19%
Depreciation, Depletion And Amortization $25.03M $21.49M
YoY Change 16.47% -6.67%
Cash From Operating Activities $18.95M $91.90M
YoY Change -79.38% 50.95%
INVESTING ACTIVITIES
Capital Expenditures $17.51M $15.66M
YoY Change 11.76% 46.53%
Acquisitions $2.619M $85.42M
YoY Change -96.93% -56.9%
Other Investing Activities $6.000M -$84.30M
YoY Change -107.12% -54.73%
Cash From Investing Activities -$11.53M -$100.0M
YoY Change -88.47% -49.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $79.00M $395.0K
YoY Change 19900.25% -99.51%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$90.97M -$9.589M
YoY Change 848.72% -87.19%
NET CHANGE
Cash From Operating Activities $18.95M $91.90M
Cash From Investing Activities -$11.53M -$100.0M
Cash From Financing Activities -$90.97M -$9.589M
Net Change In Cash -$79.38M -$13.47M
YoY Change 489.14% -93.61%
FREE CASH FLOW
Cash From Operating Activities $18.95M $91.90M
Capital Expenditures $17.51M $15.66M
Free Cash Flow $1.445M $76.24M
YoY Change -98.1% 51.89%

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144000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
21086000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
42965000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
259358000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
258694000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5800000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5800000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
4607000 USD
CY2018Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
4680000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
17552000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12396000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5791724000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
6022315000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5799173000 USD
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
582717000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
659436000 USD
CY2016 us-gaap Revenues
Revenues
2481890000 USD
CY2017Q1 us-gaap Revenues
Revenues
582717000 USD
CY2017Q2 us-gaap Revenues
Revenues
676087000 USD
CY2017Q3 us-gaap Revenues
Revenues
657225000 USD
CY2017Q4 us-gaap Revenues
Revenues
675817000 USD
CY2017 us-gaap Revenues
Revenues
2591846000 USD
CY2018Q1 us-gaap Revenues
Revenues
659436000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
225289000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
225045000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2866000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2111000 USD
CY2017Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Noncurrent
SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent
10331000 USD
CY2018Q1 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount Noncurrent
SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent
10331000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2915145000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2884913000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3802834000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
3881716000 USD
CY2017Q1 us-gaap Undistributed Earnings
UndistributedEarnings
6884000 USD
CY2018Q1 us-gaap Undistributed Earnings
UndistributedEarnings
28253000 USD
CY2017Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2018Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-14102000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5569000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5473000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5535000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5436000 shares
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:110%;padding-bottom:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements</font><font style="font-family:Arial;font-size:10pt;"> &#8211; The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates.</font></div></div>

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