2018 Q3 Form 10-Q Financial Statement

#000142833618000030 Filed on September 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $71.07M $56.88M
YoY Change 24.94% 28.73%
Cost Of Revenue $24.49M $21.08M
YoY Change 16.2% 34.84%
Gross Profit $46.58M $35.80M
YoY Change 30.09% 25.38%
Gross Profit Margin 65.54% 62.94%
Selling, General & Admin $15.14M $11.43M
YoY Change 32.45% 17.33%
% of Gross Profit 32.5% 31.92%
Research & Development $8.398M $6.797M
YoY Change 23.55% 36.13%
% of Gross Profit 18.03% 18.98%
Depreciation & Amortization $800.0K $600.0K
YoY Change 33.33% 37.3%
% of Gross Profit 1.72% 1.68%
Operating Expenses $25.01M $19.31M
YoY Change 29.55% 22.08%
Operating Profit $21.56M $16.50M
YoY Change 30.72% 29.48%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$75.00K -$38.00K
YoY Change 97.37% 2.7%
Pretax Income $21.49M $16.46M
YoY Change 30.57% 29.56%
Income Tax -$1.029M -$489.0K
% Of Pretax Income -4.79% -2.97%
Net Earnings $22.52M $16.95M
YoY Change 32.88% 105.83%
Net Earnings / Revenue 31.68% 29.79%
Basic Earnings Per Share $0.36 $0.28
Diluted Earnings Per Share $0.36 $0.27
COMMON SHARES
Basic Shares Outstanding 61.88M shares 60.17M shares
Diluted Shares Outstanding 63.40M shares 61.77M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $302.9M $210.3M
YoY Change 44.03% 40.67%
Cash & Equivalents $261.8M $169.7M
Short-Term Investments $41.10M $40.60M
Other Short-Term Assets $11.73M $8.100M
YoY Change 44.78% 17.39%
Inventory $163.0K $339.0K
Prepaid Expenses $8.078M
Receivables $24.91M $20.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $339.7M $239.6M
YoY Change 41.77% 37.92%
LONG-TERM ASSETS
Property, Plant & Equipment $8.869M $6.080M
YoY Change 45.87% 43.03%
Goodwill $4.651M $4.651M
YoY Change 0.0% 0.0%
Intangibles $82.28M $73.83M
YoY Change 11.45% 12.41%
Long-Term Investments $100.0K $206.0K
YoY Change -51.46% -26.69%
Other Assets $18.05M $1.709M
YoY Change 956.41% -3.06%
Total Long-Term Assets $114.9M $91.32M
YoY Change 25.81% 18.84%
TOTAL ASSETS
Total Short-Term Assets $339.7M $239.6M
Total Long-Term Assets $114.9M $91.32M
Total Assets $454.6M $330.9M
YoY Change 37.37% 32.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.769M $1.594M
YoY Change 10.98% -11.49%
Accrued Expenses $5.577M $4.829M
YoY Change 15.49% 73.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.07M $12.94M
YoY Change 31.88% 44.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.693M $2.100M
YoY Change 28.24% 90.91%
Total Long-Term Liabilities $4.914M $2.067M
YoY Change 137.74% -5.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.07M $12.94M
Total Long-Term Liabilities $4.914M $2.067M
Total Liabilities $21.98M $15.01M
YoY Change 46.46% 34.91%
SHAREHOLDERS EQUITY
Retained Earnings $143.0M $68.87M
YoY Change 107.71% 245.81%
Common Stock $6.000K $6.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $432.6M $315.9M
YoY Change
Total Liabilities & Shareholders Equity $454.6M $330.9M
YoY Change 37.37% 32.07%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $22.52M $16.95M
YoY Change 32.88% 105.83%
Depreciation, Depletion And Amortization $800.0K $600.0K
YoY Change 33.33% 37.3%
Cash From Operating Activities $29.90M $24.20M
YoY Change 23.55% 80.6%
INVESTING ACTIVITIES
Capital Expenditures -$5.200M -$12.60M
YoY Change -58.73% 334.48%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$100.0K
YoY Change 100.0% 0.0%
Cash From Investing Activities -$5.400M -$12.80M
YoY Change -57.81% 326.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.300M 3.300M
YoY Change 151.52% -45.0%
NET CHANGE
Cash From Operating Activities 29.90M 24.20M
Cash From Investing Activities -5.400M -12.80M
Cash From Financing Activities 8.300M 3.300M
Net Change In Cash 32.80M 14.70M
YoY Change 123.13% -10.37%
FREE CASH FLOW
Cash From Operating Activities $29.90M $24.20M
Capital Expenditures -$5.200M -$12.60M
Free Cash Flow $35.10M $36.80M
YoY Change -4.62% 125.77%

Facts In Submission

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0 USD
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0.3779
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2690000 USD
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7836000 USD
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6600000 USD
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85300000 USD
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6803000 USD
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0
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0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.3784
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0.3801
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0189
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.0207
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.0268
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.0189
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0252
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2600000.0 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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30.57
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
109000 shares
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89000 shares
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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2576000 shares
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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22.83
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.36
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
126579000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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814000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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2576000 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
26.36
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.86
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
60.07
CY2017Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2018Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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44374000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M24D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M5D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M28D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y1M28D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1103000 shares
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
346274000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
432619000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
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900000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits
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1300000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1200000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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61765000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61604000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63397000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63060000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60173000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59955000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61880000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61531000 shares

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