2018 Q3 Form 10-Q Financial Statement

#000031314318000058 Filed on November 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $241.6M $211.0M
YoY Change 14.52% 0.47%
Cost Of Revenue $129.7M $120.8M
YoY Change 7.33% 1.61%
Gross Profit $111.9M $104.6M
YoY Change 7.02% 14.83%
Gross Profit Margin 46.32% 49.57%
Selling, General & Admin $77.25M $72.78M
YoY Change 6.13% -16.82%
% of Gross Profit 69.03% 69.61%
Research & Development $8.583M $7.521M
YoY Change 14.12% -34.24%
% of Gross Profit 7.67% 7.19%
Depreciation & Amortization $25.30M $21.80M
YoY Change 16.06% -3.11%
% of Gross Profit 22.61% 20.85%
Operating Expenses $85.83M $80.30M
YoY Change 6.88% -18.83%
Operating Profit $26.08M $24.26M
YoY Change 7.49% -407.8%
Interest Expense -$3.000M -$1.400M
YoY Change 114.29% -36.36%
% of Operating Profit -11.5% -5.77%
Other Income/Expense, Net -$3.039M -$1.397M
YoY Change 117.54% -35.83%
Pretax Income $23.04M $22.86M
YoY Change 0.77% -327.29%
Income Tax $4.300M $2.759M
% Of Pretax Income 18.67% 12.07%
Net Earnings $18.73M $20.10M
YoY Change -6.85% -294.3%
Net Earnings / Revenue 7.75% 9.53%
Basic Earnings Per Share $0.36 $0.38
Diluted Earnings Per Share $0.35 $0.38
COMMON SHARES
Basic Shares Outstanding 51.61M shares 52.62M shares
Diluted Shares Outstanding 53.14M shares 52.98M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $199.8M $171.7M
YoY Change 16.37% 45.26%
Cash & Equivalents $199.8M $203.6M
Short-Term Investments
Other Short-Term Assets $27.80M $31.00M
YoY Change -10.32% -4.02%
Inventory $163.6M $168.6M
Prepaid Expenses
Receivables $161.6M $143.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $552.8M $553.4M
YoY Change -0.11% 13.03%
LONG-TERM ASSETS
Property, Plant & Equipment $344.6M $320.2M
YoY Change 7.6% -5.72%
Goodwill $210.8M $211.1M
YoY Change -0.13% -21.39%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.25M $12.57M
YoY Change -2.52% -9.22%
Total Long-Term Assets $712.9M $717.8M
YoY Change -0.68% -13.29%
TOTAL ASSETS
Total Short-Term Assets $552.8M $553.4M
Total Long-Term Assets $712.9M $717.8M
Total Assets $1.266B $1.271B
YoY Change -0.43% -3.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $57.86M $41.76M
YoY Change 38.53% 13.49%
Accrued Expenses $49.10M $31.90M
YoY Change 53.92% -27.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.66M $108.6M
YoY Change -88.34% 132.01%
Total Short-Term Liabilities $189.2M $255.0M
YoY Change -25.82% 28.16%
LONG-TERM LIABILITIES
Long-Term Debt $331.0M $178.0M
YoY Change 85.93% -49.56%
Other Long-Term Liabilities $30.98M $23.52M
YoY Change 31.75% -17.59%
Total Long-Term Liabilities $362.0M $201.5M
YoY Change 79.61% -47.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $189.2M $255.0M
Total Long-Term Liabilities $362.0M $201.5M
Total Liabilities $551.1M $456.5M
YoY Change 20.72% -21.34%
SHAREHOLDERS EQUITY
Retained Earnings $194.4M $330.2M
YoY Change -41.13% 7.95%
Common Stock $531.0M $498.5M
YoY Change 6.52% 11.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $701.3M $801.3M
YoY Change
Total Liabilities & Shareholders Equity $1.266B $1.271B
YoY Change -0.43% -3.51%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $18.73M $20.10M
YoY Change -6.85% -294.3%
Depreciation, Depletion And Amortization $25.30M $21.80M
YoY Change 16.06% -3.11%
Cash From Operating Activities $57.40M $38.43M
YoY Change 49.38% 25.18%
INVESTING ACTIVITIES
Capital Expenditures -$48.50M $13.72M
YoY Change -453.47% -38.96%
Acquisitions
YoY Change
Other Investing Activities $400.0K $10.00M
YoY Change -96.0%
Cash From Investing Activities -$48.00M -$3.740M
YoY Change 1183.42% -83.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $11.86M
YoY Change 66.66%
Cash From Financing Activities -100.0K -$3.549M
YoY Change -97.18% -28.82%
NET CHANGE
Cash From Operating Activities 57.40M $38.43M
Cash From Investing Activities -48.00M -$3.740M
Cash From Financing Activities -100.0K -$3.549M
Net Change In Cash 9.300M $31.14M
YoY Change -70.13% 838.68%
FREE CASH FLOW
Cash From Operating Activities $57.40M $38.43M
Capital Expenditures -$48.50M $13.72M
Free Cash Flow $105.9M $24.70M
YoY Change 328.68% 200.68%

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24258000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
40869000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
26076000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
31369000 USD
CY2017Q3 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
CY2018Q3 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
21170000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12061000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12254000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-5772000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5042000 USD
CY2018Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
65660000 USD
CY2018Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
69514000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
34258000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
30983000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1397000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2756000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3039000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5017000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
312000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1277000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
80000000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
13143000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29125000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
76002000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
28983000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
27868000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
9000000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
us-gaap Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
0 USD
us-gaap Proceeds From Issuance Of Medium Term Notes
ProceedsFromIssuanceOfMediumTermNotes
347780000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
417000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1346000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
656000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10120000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7127000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
176000 USD
CY2017Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
435000 USD
CY2018Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
316000 USD
CY2018Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
257000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
537000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
392000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
796000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
333000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
332156000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
344560000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
688000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
549000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-730000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
28455000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
258103000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7521000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15714000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8583000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17989000 USD
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
6400000 USD
us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
1500000 USD
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
151000 USD
us-gaap Restructuring Charges
RestructuringCharges
1207000 USD
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
-33000 USD
us-gaap Restructuring Charges
RestructuringCharges
-325000 USD
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
28535000 USD
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
14971000 USD
CY2017Q3 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
0 USD
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
0 USD
CY2018Q3 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
0 USD
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
8381000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-96000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
266942000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
194375000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
225377000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
436328000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
26200000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Optional Exemption Remaining Duration
RevenueRemainingPerformanceObligationOptionalExemptionRemainingDuration
P1Y
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.57
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
72783000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
139644000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
77248000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
145793000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4199000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7961000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
752429000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
701338000 USD
CY2018Q3 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-2600000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
362000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
365000 shares
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1533000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1503000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52981000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52896000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53138000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53365000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52619000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52531000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51605000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51862000 shares

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