2023 Q2 Form 10-Q Financial Statement

#000185224423000019 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $2.394B $2.323B $2.467B
YoY Change 11.04% 11.52% 9.06%
Cost Of Revenue $1.957B $1.906B $2.035B
YoY Change 10.25% 9.04% 6.43%
Gross Profit $437.0M $417.0M $432.0M
YoY Change 14.7% 24.48% 23.43%
Gross Profit Margin 18.25% 17.95% 17.51%
Selling, General & Admin $245.0M $258.0M $253.0M
YoY Change 11.36% 35.79% 19.34%
% of Gross Profit 56.06% 61.87% 58.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $84.00M $83.00M $87.00M
YoY Change 9.09% 9.21% 14.47%
% of Gross Profit 19.22% 19.9% 20.14%
Operating Expenses $329.0M $258.0M $340.0M
YoY Change 49.55% 35.79% 18.06%
Operating Profit $108.0M $42.00M $92.00M
YoY Change 83.05% 13.51% 48.39%
Interest Expense -$14.00M $13.00M -$10.00M
YoY Change -255.56% 225.0% 100.0%
% of Operating Profit -12.96% 30.95% -10.87%
Other Income/Expense, Net $1.000M $0.00 -$5.000M
YoY Change -95.65% -100.0% -141.67%
Pretax Income $86.00M $29.00M $59.00M
YoY Change 17.81% -40.82% -15.71%
Income Tax $20.00M $3.000M $13.00M
% Of Pretax Income 23.26% 10.34% 22.03%
Net Earnings $65.00M $25.00M $46.00M
YoY Change 27.45% -32.43% -17.86%
Net Earnings / Revenue 2.72% 1.08% 1.86%
Basic Earnings Per Share $0.55 $0.21
Diluted Earnings Per Share $0.54 $0.21 $0.39
COMMON SHARES
Basic Shares Outstanding 181.1M shares 118.8M shares 118.6M shares
Diluted Shares Outstanding 119.4M shares 119.2M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $305.0M $426.0M $495.0M
YoY Change -20.57% 36.54% 48.65%
Cash & Equivalents $305.0M $426.0M $495.0M
Short-Term Investments
Other Short-Term Assets $282.0M $280.0M $286.0M
YoY Change -9.62% 23.89% 10.42%
Inventory
Prepaid Expenses
Receivables $1.719B $1.605B $1.647B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.306B $2.311B $2.428B
YoY Change 2.22% 13.84% 15.67%
LONG-TERM ASSETS
Property, Plant & Equipment $3.159B $3.132B $3.187B
YoY Change 12.62% 20.28% 20.95%
Goodwill $2.802B $2.765B $2.728B
YoY Change 1.19% 39.22% 35.25%
Intangibles $544.0M $555.0M $570.0M
YoY Change -2.33% 132.22% 121.79%
Long-Term Investments
YoY Change
Other Assets $315.0M $327.0M $306.0M
YoY Change -1.25% 22.47% 16.35%
Total Long-Term Assets $6.820B $6.779B $6.791B
YoY Change 5.74% 33.03% 31.3%
TOTAL ASSETS
Total Short-Term Assets $2.306B $2.311B $2.428B
Total Long-Term Assets $6.820B $6.779B $6.791B
Total Assets $9.126B $9.090B $9.219B
YoY Change 4.82% 27.56% 26.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $566.0M $652.0M $717.0M
YoY Change -4.39% 18.76% 14.9%
Accrued Expenses $1.518B $908.0M $995.0M
YoY Change 50.0% -3.4% -0.3%
Deferred Revenue $196.0M $169.0M $154.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $35.00M $84.00M $67.00M
YoY Change -58.33% 162.5% 97.06%
Total Short-Term Liabilities $2.403B $2.421B $2.532B
YoY Change 1.65% 14.09% 8.72%
LONG-TERM LIABILITIES
Long-Term Debt $1.625B $1.697B $1.739B
YoY Change -9.77% 87.1% 87.59%
Other Long-Term Liabilities $2.287B $453.0M $417.0M
YoY Change 457.8% 35.63% 78.21%
Total Long-Term Liabilities $3.912B $3.950B $4.009B
YoY Change 3.46% 50.25% 57.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.403B $2.421B $2.532B
Total Long-Term Liabilities $3.912B $3.950B $4.009B
Total Liabilities $6.348B $6.371B $6.541B
YoY Change 3.3% 34.1% 34.01%
SHAREHOLDERS EQUITY
Retained Earnings $413.0M $348.0M $323.0M
YoY Change 92.99% 113.5% 156.35%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.778B $2.685B $2.645B
YoY Change
Total Liabilities & Shareholders Equity $9.126B $9.090B $9.219B
YoY Change 4.82% 27.56% 26.79%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $65.00M $25.00M $46.00M
YoY Change 27.45% -32.43% -17.86%
Depreciation, Depletion And Amortization $84.00M $83.00M $87.00M
YoY Change 9.09% 9.21% 14.47%
Cash From Operating Activities $61.00M $39.00M $226.0M
YoY Change -60.39% -15.22% 10.78%
INVESTING ACTIVITIES
Capital Expenditures $59.00M $91.00M $103.0M
YoY Change -166.29% 40.0% -247.14%
Acquisitions
YoY Change
Other Investing Activities $1.000M $0.00 $10.00M
YoY Change -100.11% -100.0% 233.33%
Cash From Investing Activities -$58.00M -$82.00M -$93.00M
YoY Change -93.95% 86.36% 38.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -126.0M -$29.00M -76.00M
YoY Change -114.21% 61.11% 0.0%
NET CHANGE
Cash From Operating Activities 61.00M $39.00M 226.0M
Cash From Investing Activities -58.00M -$82.00M -93.00M
Cash From Financing Activities -126.0M -$29.00M -76.00M
Net Change In Cash -123.0M -$69.00M 57.00M
YoY Change -250.0% 228.57% -6.56%
FREE CASH FLOW
Cash From Operating Activities $61.00M $39.00M $226.0M
Capital Expenditures $59.00M $91.00M $103.0M
Free Cash Flow $2.000M -$52.00M $123.0M
YoY Change -99.18% 173.68% -55.11%

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