2017 Q4 Form 10-Q Financial Statement

#000106660517000018 Filed on October 26, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q4
Revenue $174.3M $164.5M $164.6M
YoY Change 5.89% 10.95% 10.25%
Cost Of Revenue $4.900M $4.700M $4.700M
YoY Change 4.26% 0.0% -2.08%
Gross Profit $169.4M $159.8M $159.8M
YoY Change 6.01% 11.36% 10.59%
Gross Profit Margin 97.19% 97.16% 97.08%
Selling, General & Admin $160.9M $145.8M $152.2M
YoY Change 5.72% 10.87% 9.34%
% of Gross Profit 94.98% 91.24% 95.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.500M $2.800M $4.700M
YoY Change -25.53% 16.67% 27.03%
% of Gross Profit 2.07% 1.75% 2.94%
Operating Expenses $161.0M $150.4M $152.2M
YoY Change 5.78% 10.43% 9.34%
Operating Profit $8.400M $14.02M $7.600M
YoY Change 10.53% 16.79% 43.4%
Interest Expense $200.0K $100.0K $100.0K
YoY Change 100.0% -50.0%
% of Operating Profit 2.38% 0.71% 1.32%
Other Income/Expense, Net -$500.0K $241.0K $1.900M
YoY Change -126.32% -36.91% -371.43%
Pretax Income -$19.10M $14.26M $9.600M
YoY Change -298.96% 15.14% 100.0%
Income Tax -$3.600M $6.092M $9.100M
% Of Pretax Income 42.71% 94.79%
Net Earnings -$39.20M $8.171M $500.0K
YoY Change -7940.0% 17.74% -61.54%
Net Earnings / Revenue -22.49% 4.97% 0.3%
Basic Earnings Per Share $0.44
Diluted Earnings Per Share -$2.085M $0.43 $25.38K
COMMON SHARES
Basic Shares Outstanding 18.79M shares 18.78M shares 18.58M shares
Diluted Shares Outstanding 19.02M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $207.5M $105.7M $165.0M
YoY Change 25.76% 5.7% -13.39%
Cash & Equivalents $207.5M $105.7M $165.0M
Short-Term Investments
Other Short-Term Assets $11.62M $15.26M $13.78M
YoY Change -15.67% 2.63% -25.3%
Inventory
Prepaid Expenses $22.00M $24.42M $21.60M
Receivables $98.70M $129.6M $93.19M
Other Receivables $3.900M $5.700M $4.800M
Total Short-Term Assets $343.8M $280.7M $298.4M
YoY Change 15.2% 8.39% -3.41%
LONG-TERM ASSETS
Property, Plant & Equipment $39.51M $41.95M $35.10M
YoY Change 12.58% 16.07% -3.83%
Goodwill $118.9M $125.7M $151.8M
YoY Change -21.7% -19.04% 15.8%
Intangibles
YoY Change
Long-Term Investments $21.30M $20.40M $17.30M
YoY Change 23.12% 17.92% 22.7%
Other Assets $8.999M $10.60M $9.322M
YoY Change -3.46% -5.63% -16.13%
Total Long-Term Assets $243.4M $272.7M $283.1M
YoY Change -14.01% -7.49% 7.32%
TOTAL ASSETS
Total Short-Term Assets $343.8M $280.7M $298.4M
Total Long-Term Assets $243.4M $272.7M $283.1M
Total Assets $587.2M $553.4M $581.5M
YoY Change 0.98% -0.06% 1.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.824M $8.294M $7.952M
YoY Change 23.54% -14.0% 29.3%
Accrued Expenses $177.4M $127.7M $155.5M
YoY Change 14.08% 6.33% -2.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $265.8M $198.1M $220.6M
YoY Change 20.49% 3.99% -3.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $23.60M $27.37M $28.29M
YoY Change -16.58% 0.39% 42.53%
Total Long-Term Liabilities $108.7M $104.4M $102.3M
YoY Change 6.24% 7.01% 15.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $265.8M $198.1M $220.6M
Total Long-Term Liabilities $108.7M $104.4M $102.3M
Total Liabilities $374.5M $302.5M $322.9M
YoY Change 15.98% 5.02% 1.57%
SHAREHOLDERS EQUITY
Retained Earnings -$716.0K $40.93M $58.03M
YoY Change -101.23% -31.85% 10.38%
Common Stock $226.2M $225.2M $230.2M
YoY Change -1.72% -1.89% -1.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.10M $26.10M $32.92M
YoY Change -20.72% -20.71% -16.85%
Treasury Stock Shares 804.3K shares 804.3K shares 1.008M shares
Shareholders Equity $212.7M $251.0M $258.6M
YoY Change
Total Liabilities & Shareholders Equity $587.2M $553.4M $581.5M
YoY Change 0.98% -0.06% 1.53%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income -$39.20M $8.171M $500.0K
YoY Change -7940.0% 17.74% -61.54%
Depreciation, Depletion And Amortization $3.500M $2.800M $4.700M
YoY Change -25.53% 16.67% 27.03%
Cash From Operating Activities $103.0M $50.20M $70.90M
YoY Change 45.28% 39.44% -8.63%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$2.800M -$3.200M
YoY Change -75.0% 154.55% 28.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $500.0K -$7.400M
YoY Change -100.0% -102.81% -28.16%
Cash From Investing Activities -$900.0K -$2.300M -$10.50M
YoY Change -91.43% -87.83% -17.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.500M -2.600M 400.0K
YoY Change -725.0% 4.0% -116.0%
NET CHANGE
Cash From Operating Activities 103.0M 50.20M 70.90M
Cash From Investing Activities -900.0K -2.300M -10.50M
Cash From Financing Activities -2.500M -2.600M 400.0K
Net Change In Cash 99.60M 45.30M 60.80M
YoY Change 63.82% 210.27% -2.41%
FREE CASH FLOW
Cash From Operating Activities $103.0M $50.20M $70.90M
Capital Expenditures -$800.0K -$2.800M -$3.200M
Free Cash Flow $103.8M $53.00M $74.10M
YoY Change 40.08% 42.86% -7.49%

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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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5779000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax
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OtherNonoperatingIncomeExpense
418000 USD
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OtherNonoperatingIncomeExpense
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us-gaap Payments Of Dividends
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7442000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
147000 USD
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7676000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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27722000 USD
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PaymentsToAcquireBusinessesGross
364000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2179000 USD
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PaymentsToAcquirePropertyPlantAndEquipment
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CY2016Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
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CY2017Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
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CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
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CY2017Q3 us-gaap Preferred Stock Shares Authorized
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CY2016Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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ProceedsFromSaleOfAvailableForSaleSecurities
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ProceedsFromSaleOfAvailableForSaleSecurities
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CY2016Q4 us-gaap Property Plant And Equipment Gross
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us-gaap Provision For Doubtful Accounts
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CY2016Q3 us-gaap Reimbursement Revenue
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CY2017Q3 us-gaap Reimbursement Revenue
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us-gaap Reimbursement Revenue
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CY2017Q1 us-gaap Repayments Of Long Term Debt
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us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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58030000 USD
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us-gaap Revenues
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164465000 USD
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us-gaap Sales Revenue Services Net
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CY2016Q4 us-gaap Treasury Stock Shares
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TreasuryStockShares
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TreasuryStockValue
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TreasuryStockValue
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CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
273000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
235000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18720000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Reclassifications
Reclassifications
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications<br clear="none"/> <br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been recast as a result of the change in the Company's operating segments as first reported in the Company's Annual Report on Form 10-K filed on March 23, 2017. The reclassifications had no impact on net income, net cash flows or stockholders' equity.</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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