2018 Q2 Form 10-Q Financial Statement

#000106660518000009 Filed on July 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $187.7M $157.1M
YoY Change 19.46% 2.15%
Cost Of Revenue $4.600M $4.900M
YoY Change -6.12% -2.0%
Gross Profit $183.1M $152.2M
YoY Change 20.3% 2.22%
Gross Profit Margin 97.55% 96.87%
Selling, General & Admin $164.6M $141.5M
YoY Change 16.33% 3.13%
% of Gross Profit 89.9% 92.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.800M $2.700M
YoY Change 3.7% 17.39%
% of Gross Profit 1.53% 1.77%
Operating Expenses $169.2M $185.5M
YoY Change -8.79% 30.54%
Operating Profit $18.46M -$28.41M
YoY Change -164.98% -342.95%
Interest Expense $0.00 -$100.0K
YoY Change -100.0% -200.0%
% of Operating Profit 0.0%
Other Income/Expense, Net -$50.00K -$275.0K
YoY Change -81.82% -416.09%
Pretax Income $18.41M -$28.69M
YoY Change -164.18% -343.49%
Income Tax $6.948M -$10.44M
% Of Pretax Income 37.74%
Net Earnings $11.46M -$18.25M
YoY Change -162.82% -374.2%
Net Earnings / Revenue 6.11% -11.61%
Basic Earnings Per Share $0.61 -$0.97
Diluted Earnings Per Share $0.59 -$0.97
COMMON SHARES
Basic Shares Outstanding 18.93M shares 18.75M shares
Diluted Shares Outstanding 19.33M shares 18.75M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $85.80M $58.20M
YoY Change 47.42% -31.85%
Cash & Equivalents $85.83M $58.18M
Short-Term Investments
Other Short-Term Assets $27.64M $13.78M
YoY Change 100.52% -1.76%
Inventory
Prepaid Expenses $27.61M $23.78M
Receivables $153.9M $124.4M
Other Receivables $5.200M $5.500M
Total Short-Term Assets $300.2M $225.6M
YoY Change 33.06% -2.68%
LONG-TERM ASSETS
Property, Plant & Equipment $36.75M $41.49M
YoY Change -11.42% 13.79%
Goodwill $122.8M $124.7M
YoY Change -1.47% -8.37%
Intangibles
YoY Change
Long-Term Investments $21.60M $19.70M
YoY Change 9.64% 17.26%
Other Assets $19.49M $11.91M
YoY Change 63.61% -3.93%
Total Long-Term Assets $252.7M $271.8M
YoY Change -7.04% -0.02%
TOTAL ASSETS
Total Short-Term Assets $300.2M $225.6M
Total Long-Term Assets $252.7M $271.8M
Total Assets $552.9M $497.4M
YoY Change 11.15% -1.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.723M $8.170M
YoY Change 6.77% 41.72%
Accrued Expenses $120.7M $88.10M
YoY Change 37.0% 0.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $213.1M $157.4M
YoY Change 35.4% 1.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $21.96M $26.59M
YoY Change -17.4% 21.66%
Total Long-Term Liabilities $102.0M $96.56M
YoY Change 5.59% 10.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $213.1M $157.4M
Total Long-Term Liabilities $102.0M $96.56M
Total Liabilities $315.0M $253.9M
YoY Change 24.07% 4.36%
SHAREHOLDERS EQUITY
Retained Earnings $30.92M $35.27M
YoY Change -12.35% -36.57%
Common Stock $222.2M $225.0M
YoY Change -1.23% -1.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.30M $26.13M
YoY Change -22.31% -20.7%
Treasury Stock Shares 631.5K shares 805.3K shares
Shareholders Equity $237.9M $243.5M
YoY Change
Total Liabilities & Shareholders Equity $552.9M $497.4M
YoY Change 11.15% -1.24%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $11.46M -$18.25M
YoY Change -162.82% -374.2%
Depreciation, Depletion And Amortization $2.800M $2.700M
YoY Change 3.7% 17.39%
Cash From Operating Activities $30.40M $24.30M
YoY Change 25.1% -28.95%
INVESTING ACTIVITIES
Capital Expenditures -$1.300M -$6.200M
YoY Change -79.03% 1450.0%
Acquisitions
YoY Change
Other Investing Activities $1.300M -$100.0K
YoY Change -1400.0% -50.0%
Cash From Investing Activities $0.00 -$6.400M
YoY Change -100.0% 966.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $25.00M
YoY Change
Cash From Financing Activities -14.60M -29.80M
YoY Change -51.01% 210.42%
NET CHANGE
Cash From Operating Activities 30.40M 24.30M
Cash From Investing Activities 0.000 -6.400M
Cash From Financing Activities -14.60M -29.80M
Net Change In Cash 15.80M -11.90M
YoY Change -232.77% -149.58%
FREE CASH FLOW
Cash From Operating Activities $30.40M $24.30M
Capital Expenditures -$1.300M -$6.200M
Free Cash Flow $31.70M $30.50M
YoY Change 3.93% -11.85%

Facts In Submission

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us-gaap Loss Contingency Disclosures
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Litigation</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has contingent liabilities from various pending claims and litigation matters arising in the ordinary course of the Company&#8217;s business, some of which involve claims for damages that are substantial in amount. Some of these matters are covered by insurance. Based upon information currently available, the Company believes the ultimate resolution of such claims and litigation will not have a material adverse effect on its financial condition, results of operations or liquidity.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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-align:justify;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 and adoption of ASU No. 2016-18, Statement of Cash Flows: Restricted Cash. The reclassifications had no impact on net income, net cash flows or stockholders' equity.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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