2019 Q1 Form 10-Q Financial Statement

#000035581119000020 Filed on May 03, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $468.6M $465.4M
YoY Change 0.68% 2.62%
Cost Of Revenue $298.9M $292.8M
YoY Change 2.1% 5.42%
Gross Profit $169.6M $172.6M
YoY Change -1.73% -1.8%
Gross Profit Margin 36.2% 37.09%
Selling, General & Admin $19.96M $18.06M
YoY Change 10.49% 11.36%
% of Gross Profit 11.77% 10.46%
Research & Development $28.09M $26.05M
YoY Change 7.83% 3.57%
% of Gross Profit 16.56% 15.09%
Depreciation & Amortization $28.10M $28.05M
YoY Change 0.19% 11.38%
% of Gross Profit 16.56% 16.25%
Operating Expenses $48.05M $44.11M
YoY Change 8.92% 6.62%
Operating Profit $121.6M $128.5M
YoY Change -5.38% -4.4%
Interest Expense $3.300M $1.500M
YoY Change 120.0% 150.0%
% of Operating Profit 2.71% 1.17%
Other Income/Expense, Net $3.312M $3.245M
YoY Change 2.08% 641.14%
Pretax Income $124.9M $131.8M
YoY Change -5.2% -2.3%
Income Tax $20.63M $20.51M
% Of Pretax Income 16.51% 15.57%
Net Earnings $104.3M $111.2M
YoY Change -6.26% 14.03%
Net Earnings / Revenue 22.25% 23.9%
Basic Earnings Per Share $0.40 $0.40
Diluted Earnings Per Share $0.40 $0.40
COMMON SHARES
Basic Shares Outstanding 257.8M shares 274.8M shares
Diluted Shares Outstanding 259.1M shares 277.5M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $402.0M $676.5M
YoY Change -40.58% -8.12%
Cash & Equivalents $221.7M $524.3M
Short-Term Investments $180.3M $152.2M
Other Short-Term Assets $14.80M $11.50M
YoY Change 28.7% -1.71%
Inventory $225.3M $207.2M
Prepaid Expenses
Receivables $244.3M $246.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $886.4M $1.142B
YoY Change -22.36% -4.43%
LONG-TERM ASSETS
Property, Plant & Equipment $492.6M $496.3M
YoY Change -0.74% 4.89%
Goodwill $307.4M $307.4M
YoY Change 0.0% 0.0%
Intangibles $264.9M $284.2M
YoY Change -6.79% -6.36%
Long-Term Investments $126.5M $3.200M
YoY Change 3853.13% -94.8%
Other Assets $721.4M $616.4M
YoY Change 17.03% -11.39%
Total Long-Term Assets $1.214B $1.113B
YoY Change 9.11% -4.8%
TOTAL ASSETS
Total Short-Term Assets $886.4M $1.142B
Total Long-Term Assets $1.214B $1.113B
Total Assets $2.100B $2.254B
YoY Change -6.83% -4.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.12M $77.31M
YoY Change 16.57% -0.52%
Accrued Expenses $94.38M $100.9M
YoY Change -6.43% -48.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $50.00M
YoY Change -100.0%
Long-Term Debt Due $50.00M
YoY Change
Total Short-Term Liabilities $184.5M $228.2M
YoY Change -19.14% -16.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $5.509M
YoY Change
Total Long-Term Liabilities $5.509M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $184.5M $228.2M
Total Long-Term Liabilities $5.509M $0.00
Total Liabilities $243.3M $284.4M
YoY Change -14.45% -26.81%
SHAREHOLDERS EQUITY
Retained Earnings $1.093B $1.209B
YoY Change -9.55% -3.66%
Common Stock $764.0M $758.9M
YoY Change 0.67% 5.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.857B $1.970B
YoY Change
Total Liabilities & Shareholders Equity $2.100B $2.254B
YoY Change -6.83% -4.61%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $104.3M $111.2M
YoY Change -6.26% 14.03%
Depreciation, Depletion And Amortization $28.10M $28.05M
YoY Change 0.19% 11.38%
Cash From Operating Activities $133.8M $147.4M
YoY Change -9.23% 12.39%
INVESTING ACTIVITIES
Capital Expenditures -$16.80M -$26.20M
YoY Change -35.88% -5.42%
Acquisitions
YoY Change
Other Investing Activities $1.900M $55.70M
YoY Change -96.59% -732.95%
Cash From Investing Activities -$14.90M $29.47M
YoY Change -150.55% -180.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $85.75M $166.3M
YoY Change -48.44% 1109.57%
Debt Paid & Issued, Net $0.00 $28.00M
YoY Change -100.0% -33.13%
Cash From Financing Activities -$114.3M -$222.3M
YoY Change -48.6% 172.73%
NET CHANGE
Cash From Operating Activities $133.8M $147.4M
Cash From Investing Activities -$14.90M $29.47M
Cash From Financing Activities -$114.3M -$222.3M
Net Change In Cash $4.663M -$45.41M
YoY Change -110.27% -444.84%
FREE CASH FLOW
Cash From Operating Activities $133.8M $147.4M
Capital Expenditures -$16.80M -$26.20M
Free Cash Flow $150.6M $173.6M
YoY Change -13.25% 9.29%

Facts In Submission

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22000000 USD
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20786455 USD
CY2019Q1 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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0 USD
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0 USD
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20786455 USD
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3000000 USD
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366257 USD
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103198478 USD
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1282396 shares
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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259105232 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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277509428 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0256
CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y2M8D
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1799477 shares
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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156467 shares
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
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4786794 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3901316 USD
CY2019Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Capitalized Cost
ShareBasedGoodsAndNonemployeeServicesTransactionCapitalizedCost
295973 USD
CY2018Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Capitalized Cost
ShareBasedGoodsAndNonemployeeServicesTransactionCapitalizedCost
258651 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0203
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0202
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2356
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2326
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0223
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.18
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y2M8D
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.69
CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2018Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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2212989 USD
CY2018Q1 us-gaap Interest Expense Debt
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500000 USD
CY2019Q1 us-gaap Stock Repurchased During Period Shares
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4700000 shares
CY2019Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
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1000000.0 shares
CY2019Q1 gntx Net Decreasein Common Stock Sharesfrom Shares Issuedin Share Based Compensationand Shares Repurchased
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3700000 shares
CY2019Q1 gntx Increase In Cash Dividend Rate
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0.005
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.115
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CommonStockDividendsPerShareDeclared
0.110
CY2019Q1 us-gaap Dividends
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29400000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
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468588997 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
465420105 USD
CY2019Q1 us-gaap Operating Income Loss
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121596331 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
128515333 USD
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.165
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0.156
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
468588997 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
465420105 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.032
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1154357 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
558695 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
181979 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
53786 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13687 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
15982 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1978486 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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29772 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1948714 USD
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1305696 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
643018 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1948714 USD

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