2018 Q4 Form 10-K Financial Statement

#000139898719000019 Filed on February 26, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $1.285B $1.591B $1.740B
YoY Change -11.01% -4.96% -2.96%
Cost Of Revenue $1.103B $1.289B $1.402B
YoY Change 16.11% 0.62% 3.47%
Gross Profit $251.0M $387.0M $418.0M
YoY Change 32.11% -1.53% -4.57%
Gross Profit Margin 19.53% 24.32% 24.02%
Selling, General & Admin $143.0M $143.0M $144.0M
YoY Change 47.42% -1.38% -14.29%
% of Gross Profit 56.97% 36.95% 34.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.00M $49.00M $49.00M
YoY Change 0.0% -2.0% 0.0%
% of Gross Profit 19.52% 12.66% 11.72%
Operating Expenses $192.0M $143.0M $144.0M
YoY Change 66.96% -1.38% -14.29%
Operating Profit $59.00M $244.0M $274.0M
YoY Change -21.33% -1.61% 1.48%
Interest Expense -$70.00M $41.00M $46.00M
YoY Change 133.33% 0.0% -2.13%
% of Operating Profit -118.64% 16.8% 16.79%
Other Income/Expense, Net
YoY Change
Pretax Income -$22.00M $130.0M $167.0M
YoY Change -144.9% -15.03% -8.74%
Income Tax -$8.000M $40.00M $52.00M
% Of Pretax Income 30.77% 31.14%
Net Earnings -$22.00M $103.0M $123.0M
YoY Change -108.63% 8.42% 12.84%
Net Earnings / Revenue -1.71% 6.47% 7.07%
Basic Earnings Per Share -$0.19 $0.84 $0.97
Diluted Earnings Per Share -$0.19 $0.83 $0.96
COMMON SHARES
Basic Shares Outstanding 118.2M shares 122.7M shares 126.5M shares
Diluted Shares Outstanding 123.6M shares 127.6M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $203.0M $226.0M $230.0M
YoY Change -10.57% -35.06% 5.02%
Cash & Equivalents $203.0M $226.0M $230.0M
Short-Term Investments
Other Short-Term Assets $140.0M $154.0M $156.0M
YoY Change -21.79% 0.65% -9.3%
Inventory
Prepaid Expenses
Receivables $85.00M $180.0M $198.0M
Other Receivables $0.00 $334.0M $336.0M
Total Short-Term Assets $768.0M $905.0M $929.0M
YoY Change -2.66% -3.93% 7.9%
LONG-TERM ASSETS
Property, Plant & Equipment $304.0M $284.0M $283.0M
YoY Change 5.19% 4.41% 5.99%
Goodwill $3.712B $3.712B $3.711B
YoY Change 0.05% 0.22% 0.46%
Intangibles $673.0M $749.0M $749.0M
YoY Change -10.15% 0.13% 0.13%
Long-Term Investments $51.00M $53.00M $56.00M
YoY Change -31.08% -37.65%
Other Assets $272.0M $284.0M $290.0M
YoY Change 22.52% 12.25% 25.0%
Total Long-Term Assets $6.522B $6.533B $6.562B
YoY Change -0.4% -0.7% -0.05%
TOTAL ASSETS
Total Short-Term Assets $768.0M $905.0M $929.0M
Total Long-Term Assets $6.522B $6.533B $6.562B
Total Assets $7.290B $7.438B $7.491B
YoY Change -0.64% -1.1% 0.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $83.00M $181.0M $178.0M
YoY Change -46.79% 19.08% 4.71%
Accrued Expenses $344.0M $395.0M $413.0M
YoY Change -28.03% -10.63% -2.36%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $264.0M $261.0M
YoY Change -100.0% 12.82% 17.04%
Long-Term Debt Due $748.0M $727.0M $788.0M
YoY Change 488.98% 200.41% 232.49%
Total Short-Term Liabilities $1.527B $1.567B $1.640B
YoY Change 59.9% 44.03% 53.27%
LONG-TERM LIABILITIES
Long-Term Debt $2.800B $2.806B $2.812B
YoY Change -13.07% -13.23% -13.37%
Other Long-Term Liabilities $256.0M $244.0M $256.0M
YoY Change 20.75% 12.96% 6.22%
Total Long-Term Liabilities $3.056B $3.050B $3.068B
YoY Change -10.98% -11.59% -12.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.527B $1.567B $1.640B
Total Long-Term Liabilities $3.056B $3.050B $3.068B
Total Liabilities $4.975B $4.995B $5.049B
YoY Change 5.51% -1.21% 0.92%
SHAREHOLDERS EQUITY
Retained Earnings -$2.507B -$2.485B -$2.588B
YoY Change -4.71% -13.89% -13.18%
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 $2.311B $2.439B $2.439B
YoY Change
Total Liabilities & Shareholders Equity $7.290B $7.438B $7.491B
YoY Change -0.64% -1.1% 0.88%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$22.00M $103.0M $123.0M
YoY Change -108.63% 8.42% 12.84%
Depreciation, Depletion And Amortization $49.00M $49.00M $49.00M
YoY Change 0.0% -2.0% 0.0%
Cash From Operating Activities $170.0M $215.0M $139.0M
YoY Change -23.77% -16.67% -29.8%
INVESTING ACTIVITIES
Capital Expenditures $32.00M $24.00M $24.00M
YoY Change 6.67% 14.29% 20.0%
Acquisitions
YoY Change
Other Investing Activities $1.000M $9.000M -$12.00M
YoY Change -105.0% -147.37% 140.0%
Cash From Investing Activities -$31.00M -$15.00M -$36.00M
YoY Change -38.0% -62.5% 44.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -137.0M -202.0M -51.00M
YoY Change -53.4% 124.44% -67.92%
NET CHANGE
Cash From Operating Activities 170.0M 215.0M 139.0M
Cash From Investing Activities -31.00M -15.00M -36.00M
Cash From Financing Activities -137.0M -202.0M -51.00M
Net Change In Cash 2.000M -2.000M 52.00M
YoY Change -101.65% -101.56% 271.43%
FREE CASH FLOW
Cash From Operating Activities $170.0M $215.0M $139.0M
Capital Expenditures $32.00M $24.00M $24.00M
Free Cash Flow $138.0M $191.0M $115.0M
YoY Change -28.5% -19.41% -35.39%

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202000000 USD
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">USE OF ESTIMATES</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In presenting the consolidated financial statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ materially from those estimates.</font></div></div>

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