2012 Q2 Form 10-Q Financial Statement

#000110465912048171 Filed on July 10, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q2
Revenue $300.2M $294.0M $271.5M
YoY Change 10.59% 24.0% 69.46%
Cost Of Revenue $179.1M $170.9M $161.6M
YoY Change 10.84% 28.21% 84.21%
Gross Profit $121.1M $123.1M $109.9M
YoY Change 10.22% 18.6% 51.81%
Gross Profit Margin 40.35% 41.87% 40.49%
Selling, General & Admin $90.00M $86.60M $79.26M
YoY Change 13.55% 19.78% 61.1%
% of Gross Profit 74.29% 70.35% 72.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.100M $9.100M $7.094M
YoY Change 28.28% 49.18% 73.02%
% of Gross Profit 7.51% 7.39% 6.45%
Operating Expenses $90.00M $86.50M $79.26M
YoY Change 13.55% 19.81% 61.1%
Operating Profit $31.15M $36.61M $30.65M
YoY Change 1.61% 15.84% 32.13%
Interest Expense $3.312M -$3.300M $3.429M
YoY Change -3.41% 3.13% -271.45%
% of Operating Profit 10.63% -9.01% 11.19%
Other Income/Expense, Net $23.00K -$100.0K $143.0K
YoY Change -83.92%
Pretax Income $27.86M $33.20M $27.37M
YoY Change 1.79% 24.81% 32.21%
Income Tax -$4.387M $3.900M -$2.763M
% Of Pretax Income -15.75% 11.75% -10.1%
Net Earnings $23.50M $29.30M $24.60M
YoY Change -4.47% 20.08% 33.7%
Net Earnings / Revenue 7.83% 9.97% 9.06%
Basic Earnings Per Share $0.74 $0.93 $0.80
Diluted Earnings Per Share $0.74 $0.92 $0.78
COMMON SHARES
Basic Shares Outstanding 31.70M shares 30.86M shares
Diluted Shares Outstanding 31.84M shares 31.66M shares

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.90M $21.80M $17.20M
YoY Change 21.51% -23.24% -63.87%
Cash & Equivalents $20.88M $21.85M $16.04M
Short-Term Investments $0.00 $1.200M
Other Short-Term Assets $22.80M $25.20M $22.20M
YoY Change 2.7% 5.44% 29.07%
Inventory $260.0M $246.1M $228.2M
Prepaid Expenses $8.093M $7.645M
Receivables $188.3M $195.3M $197.8M
Other Receivables $0.00 $0.00 $1.500M
Total Short-Term Assets $492.0M $488.5M $466.9M
YoY Change 5.37% 6.1% 48.13%
LONG-TERM ASSETS
Property, Plant & Equipment $100.8M $100.7M $82.20M
YoY Change 22.66% 22.07% 1.23%
Goodwill $452.3M $452.4M
YoY Change 26.98%
Intangibles $371.7M $377.2M
YoY Change 23.78%
Long-Term Investments
YoY Change
Other Assets $15.88M $16.02M $33.90M
YoY Change -53.17% -56.27% 9.71%
Total Long-Term Assets $941.3M $947.2M $772.4M
YoY Change 21.87% 21.42% 44.08%
TOTAL ASSETS
Total Short-Term Assets $492.0M $488.5M $466.9M
Total Long-Term Assets $941.3M $947.2M $772.4M
Total Assets $1.433B $1.436B $1.239B
YoY Change 15.65% 15.74% 45.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $72.91M $69.85M $77.50M
YoY Change -5.92% -4.74% 100.26%
Accrued Expenses $113.5M $131.6M $132.9M
YoY Change -14.63% -7.05% 175.16%
Deferred Revenue
YoY Change
Short-Term Debt $158.0M $171.1M $53.20M
YoY Change 196.99% 140.99%
Long-Term Debt Due $3.000M $3.000M $53.00M
YoY Change -94.34% -94.34% 1666.67%
Total Short-Term Liabilities $348.7M $378.9M $316.7M
YoY Change 10.12% 11.79% 214.19%
LONG-TERM LIABILITIES
Long-Term Debt $175.0M $175.0M $178.0M
YoY Change -1.69% -1.69% 35.88%
Other Long-Term Liabilities $23.80M $24.53M $14.10M
YoY Change 68.79% 1438.83% 21.55%
Total Long-Term Liabilities $198.8M $199.5M $192.1M
YoY Change 3.49% 11.1% 34.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $348.7M $378.9M $316.7M
Total Long-Term Liabilities $198.8M $199.5M $192.1M
Total Liabilities $605.8M $639.0M $528.2M
YoY Change 14.69% 15.14% 115.59%
SHAREHOLDERS EQUITY
Retained Earnings $671.1M $648.1M
YoY Change 15.68%
Common Stock $160.8M $154.2M
YoY Change 15.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $827.5M $796.7M $711.1M
YoY Change
Total Liabilities & Shareholders Equity $1.433B $1.436B $1.239B
YoY Change 15.65% 15.74% 45.58%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q2
OPERATING ACTIVITIES
Net Income $23.50M $29.30M $24.60M
YoY Change -4.47% 20.08% 33.7%
Depreciation, Depletion And Amortization $9.100M $9.100M $7.094M
YoY Change 28.28% 49.18% 73.02%
Cash From Operating Activities $9.000M $47.70M $4.400M
YoY Change 104.55% -11.34% -10.2%
INVESTING ACTIVITIES
Capital Expenditures -$3.400M -$4.900M -$2.000M
YoY Change 70.0% 206.25% 150.0%
Acquisitions
YoY Change
Other Investing Activities $700.0K -$160.0M $3.100M
YoY Change -77.42% -40.12% -104.5%
Cash From Investing Activities -$2.600M -$164.7M $1.000M
YoY Change -360.0% -38.7% -101.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $37.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.400M 103.5M -16.60M
YoY Change -55.42% -39.65% -854.55%
NET CHANGE
Cash From Operating Activities 9.000M 47.70M 4.400M
Cash From Investing Activities -2.600M -164.7M 1.000M
Cash From Financing Activities -7.400M 103.5M -16.60M
Net Change In Cash -1.000M -13.50M -11.20M
YoY Change -91.07% -68.89% -82.11%
FREE CASH FLOW
Cash From Operating Activities $9.000M $47.70M $4.400M
Capital Expenditures -$3.400M -$4.900M -$2.000M
Free Cash Flow $12.40M $52.60M $6.400M
YoY Change 93.75% -5.05% 12.28%

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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman" size="3">Note 2 &#8211; <i>New Accounting Pronouncements</i></font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman" size="2">From time to time, new accounting pronouncements are issued by the FASB or other standards setting bodies that we adopt according to the various timetables the FASB specifies.&#160; Unless otherwise discussed, we believe the impact of recently issued standards that are not yet effective will not have a material impact on our consolidated financial position, results of operations and cash flows upon adoption.</font></p></td></tr></table>
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CY2012Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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141000 shares
CY2012Q2 hele Dilutive Securities Included In Computation Of Earnings Per Share Amount
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CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2012Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
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5537000 USD
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265000 USD
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4000 USD
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675000 USD
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779000 USD
CY2012Q2 us-gaap Payments To Acquire Productive Assets
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3368000 USD
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28000 USD
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37000 USD
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-4387000 USD

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