2018 Q1 Form 10-Q Financial Statement

#000031314318000013 Filed on February 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q4 2016 Q4
Revenue $233.6M $234.0M $227.8M
YoY Change 2.72% -2.38%
Cost Of Revenue $129.2M $122.7M $126.8M
YoY Change -3.17% 1.79%
Gross Profit $104.4M $111.3M $101.1M
YoY Change 10.11% -7.14%
Gross Profit Margin 44.69% 47.55% 44.36%
Selling, General & Admin $74.60M $97.86M $71.41M
YoY Change 37.04% -9.55%
% of Gross Profit 71.47% 87.92% 70.64%
Research & Development $11.10M $12.43M $8.462M
YoY Change 46.86% -22.66%
% of Gross Profit 10.63% 11.17% 8.37%
Depreciation & Amortization $22.90M $22.30M $22.80M
YoY Change -2.19% 0.44%
% of Gross Profit 21.94% 20.04% 22.56%
Operating Expenses $85.70M $110.3M $79.87M
YoY Change 38.08% -53.03%
Operating Profit $14.28M $1.013M $21.21M
YoY Change -95.22% -134.67%
Interest Expense -$1.000M -$800.0K -$2.000M
YoY Change -60.0% -4.76%
% of Operating Profit -7.01% -78.97% -9.43%
Other Income/Expense, Net -$806.0K -$2.275M
YoY Change -64.57% 6.26%
Pretax Income $13.30M $207.0K $18.94M
YoY Change -98.91% -129.91%
Income Tax $1.700M $6.754M $3.500M
% Of Pretax Income 12.78% 3262.8% 18.48%
Net Earnings $11.88M -$6.547M $15.39M
YoY Change -142.53% -125.9%
Net Earnings / Revenue 5.09% -2.8% 6.76%
Basic Earnings Per Share $0.22 -$0.12 $0.30
Diluted Earnings Per Share $0.22 -$0.12 $0.30
COMMON SHARES
Basic Shares Outstanding 53.45M shares 53.09M shares 51.71M shares
Diluted Shares Outstanding 53.09M shares 52.10M shares

Balance Sheet

Concept 2018 Q1 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.2M $251.6M $138.9M
YoY Change 81.14% 32.03%
Cash & Equivalents $180.2M $251.6M $129.6M
Short-Term Investments
Other Short-Term Assets $29.00M $32.50M $27.40M
YoY Change 18.61% -37.16%
Inventory $160.8M $158.8M $188.5M
Prepaid Expenses
Receivables $151.2M $146.7M $150.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $521.2M $589.7M $496.6M
YoY Change 18.76% -0.96%
LONG-TERM ASSETS
Property, Plant & Equipment $332.2M $330.0M $336.0M
YoY Change -1.77% 0.96%
Goodwill $211.4M $211.1M $267.3M
YoY Change -21.03% 0.14%
Intangibles $156.6M
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.06M $12.43M $13.59M
YoY Change -8.49% -10.87%
Total Long-Term Assets $716.2M $722.0M $809.9M
YoY Change -10.85% -3.02%
TOTAL ASSETS
Total Short-Term Assets $521.2M $589.7M $496.6M
Total Long-Term Assets $716.2M $722.0M $809.9M
Total Assets $1.237B $1.312B $1.306B
YoY Change 0.41% -2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.27M $41.50M $48.85M
YoY Change -15.05% 23.24%
Accrued Expenses $69.50M $63.10M $40.80M
YoY Change 54.66% 6.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $194.3M $151.5M $66.27M
YoY Change 128.55% 43.16%
Total Short-Term Liabilities $384.7M $324.2M $216.2M
YoY Change 49.93% 23.32%
LONG-TERM LIABILITIES
Long-Term Debt $59.42M $118.7M $270.0M
YoY Change -56.04% -29.1%
Other Long-Term Liabilities $34.26M $39.60M $24.84M
YoY Change 59.4% -8.71%
Total Long-Term Liabilities $93.68M $158.3M $294.8M
YoY Change -46.31% -27.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $384.7M $324.2M $216.2M
Total Long-Term Liabilities $93.68M $158.3M $294.8M
Total Liabilities $478.4M $482.5M $511.1M
YoY Change -5.59% -12.39%
SHAREHOLDERS EQUITY
Retained Earnings $266.9M $323.6M $341.1M
YoY Change -5.12% 4.97%
Common Stock $504.5M $526.4M $468.9M
YoY Change 12.27% 7.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $752.4M $822.8M $770.9M
YoY Change
Total Liabilities & Shareholders Equity $1.237B $1.312B $1.306B
YoY Change 0.41% -2.24%

Cashflow Statement

Concept 2018 Q1 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income $11.88M -$6.547M $15.39M
YoY Change -142.53% -125.9%
Depreciation, Depletion And Amortization $22.90M $22.30M $22.80M
YoY Change -2.19% 0.44%
Cash From Operating Activities $57.70M $65.40M $39.30M
YoY Change 66.41% 23.58%
INVESTING ACTIVITIES
Capital Expenditures -$19.10M -$26.60M -$19.10M
YoY Change 39.27% -19.75%
Acquisitions
YoY Change
Other Investing Activities $1.200M $300.0K $100.0K
YoY Change 200.0% 0.0%
Cash From Investing Activities -$17.90M -$26.30M -$19.00M
YoY Change 38.42% -19.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -112.6M 8.300M 400.0K
YoY Change 1975.0% -113.33%
NET CHANGE
Cash From Operating Activities 57.70M 65.40M 39.30M
Cash From Investing Activities -17.90M -26.30M -19.00M
Cash From Financing Activities -112.6M 8.300M 400.0K
Net Change In Cash -72.80M 47.40M 20.70M
YoY Change 128.99% 305.88%
FREE CASH FLOW
Cash From Operating Activities $57.70M $65.40M $39.30M
Capital Expenditures -$19.10M -$26.60M -$19.10M
Free Cash Flow $76.80M $92.00M $58.40M
YoY Change 57.53% 5.04%

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CY2017Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
10400000 USD
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
9485000 USD
CY2016Q4 us-gaap Legal Fees
LegalFees
0 USD
us-gaap Legal Fees
LegalFees
0 USD
CY2017Q4 us-gaap Legal Fees
LegalFees
3011000 USD
us-gaap Legal Fees
LegalFees
3011000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1238709000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1311714000 USD
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
211179000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
324178000 USD
CY2017Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
61022000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
151465000 USD
CY2017Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
253625000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
118702000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-49964000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7990000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-58744000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-45069000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
125161000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
162723000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
15393000 USD
us-gaap Net Income Loss
NetIncomeLoss
24872000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-6547000 USD
us-gaap Net Income Loss
NetIncomeLoss
33692000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 unit
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
79867000 USD
us-gaap Operating Expenses
OperatingExpenses
258258000 USD
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
110282000 USD
us-gaap Operating Expenses
OperatingExpenses
265640000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
21212000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
38125000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1013000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
41882000 USD
CY2016Q4 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
210000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
1525000 USD
CY2017Q4 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12449000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12433000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
5028000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5661000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
63650000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
68151000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
22181000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
39599000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2275000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6414000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-806000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3562000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1216000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
398000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
5701000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
60517000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55696000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
40853000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
32564000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
9000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-40975000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
579000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1773000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1627000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
18278000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
33239000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
420000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
203000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
176000 USD
CY2017Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
364000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1077000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
723000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
860000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
911000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
323862000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
330026000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
11398000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
514000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-633000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
30827000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
45054000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8462000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28235000 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12427000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28141000 USD
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
8300000 USD
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
8700000 USD
CY2016Q4 us-gaap Restructuring Charges
RestructuringCharges
2032000 USD
us-gaap Restructuring Charges
RestructuringCharges
18064000 USD
CY2017Q4 us-gaap Restructuring Charges
RestructuringCharges
28455000 USD
us-gaap Restructuring Charges
RestructuringCharges
29662000 USD
CY2017Q2 us-gaap Restructuring Reserve
RestructuringReserve
7468000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
31429000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
289916000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
323608000 USD
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
227841000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
658050000 USD
CY2017Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
234043000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
670371000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
71405000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
230023000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7360000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
1400000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
739610000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
97855000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
237499000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6608000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
822807000 USD
CY2016Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
395000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
302000 shares
CY2017Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
568000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52103000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51671000 shares
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53090000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53285000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51708000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51369000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53090000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52717000 shares

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