2019 Q1 Form 10-Q Financial Statement

#000106660519000007 Filed on April 29, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $176.3M $164.7M
YoY Change 7.05% 14.21%
Cost Of Revenue $4.700M $4.600M
YoY Change 2.17% 9.52%
Gross Profit $171.6M $160.1M
YoY Change 7.18% 14.36%
Gross Profit Margin 97.35% 97.23%
Selling, General & Admin $155.2M $147.0M
YoY Change 5.58% 10.19%
% of Gross Profit 90.44% 91.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.734M $3.184M
YoY Change -14.13% -16.39%
% of Gross Profit 1.59% 1.99%
Operating Expenses $159.9M $151.5M
YoY Change 5.51% 10.18%
Operating Profit $16.39M $13.12M
YoY Change 24.92% 97.66%
Interest Expense $800.0K $200.0K
YoY Change 300.0% 0.0%
% of Operating Profit 4.88% 1.52%
Other Income/Expense, Net $2.451M -$209.0K
YoY Change -1272.73% -91.78%
Pretax Income $18.84M $12.91M
YoY Change 45.93% 215.39%
Income Tax -$6.755M $2.744M
% Of Pretax Income -35.85% 21.25%
Net Earnings $12.09M $10.17M
YoY Change 18.87% 1464.31%
Net Earnings / Revenue 6.86% 6.18%
Basic Earnings Per Share $0.64 $0.54
Diluted Earnings Per Share $0.62 $0.53
COMMON SHARES
Basic Shares Outstanding 19.00M shares 18.83M shares
Diluted Shares Outstanding 19.50M shares 19.32M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.4M $73.40M
YoY Change 55.86% 7.47%
Cash & Equivalents $114.4M $73.36M
Short-Term Investments
Other Short-Term Assets $29.23M $26.31M
YoY Change 11.1% 59.07%
Inventory
Prepaid Expenses $26.18M $29.08M
Receivables $135.2M $133.7M
Other Receivables $4.900M $4.400M
Total Short-Term Assets $309.9M $358.5M
YoY Change -13.54% 59.26%
LONG-TERM ASSETS
Property, Plant & Equipment $32.29M $38.46M
YoY Change -16.05% -3.98%
Goodwill $122.5M $123.3M
YoY Change -0.6% -19.19%
Intangibles
YoY Change
Long-Term Investments $22.80M $22.90M
YoY Change -0.44% 15.66%
Other Assets $23.78M $16.87M
YoY Change 41.03% 18.29%
Total Long-Term Assets $362.1M $240.3M
YoY Change 50.66% -17.82%
TOTAL ASSETS
Total Short-Term Assets $309.9M $358.5M
Total Long-Term Assets $362.1M $240.3M
Total Assets $672.0M $598.8M
YoY Change 12.22% 15.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.229M $9.574M
YoY Change -3.6% -3.1%
Accrued Expenses $128.1M $83.40M
YoY Change 53.6% 15.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $216.6M $268.4M
YoY Change -19.3% 88.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $12.00M
YoY Change -100.0% -52.0%
Other Long-Term Liabilities $4.171M $23.52M
YoY Change -82.27% -17.12%
Total Long-Term Liabilities $181.9M $113.5M
YoY Change 60.34% -2.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $216.6M $268.4M
Total Long-Term Liabilities $181.9M $113.5M
Total Liabilities $398.6M $377.1M
YoY Change 5.68% 45.62%
SHAREHOLDERS EQUITY
Retained Earnings $65.20M $14.33M
YoY Change 355.09% -74.45%
Common Stock $219.0M $221.1M
YoY Change -0.97% -1.39%
Preferred Stock
YoY Change
Treasury Stock (at cost) $15.14M $21.48M
YoY Change -29.51% -22.61%
Treasury Stock Shares 472.1K shares 666.8K shares
Shareholders Equity $273.4M $230.5M
YoY Change
Total Liabilities & Shareholders Equity $672.0M $598.8M
YoY Change 12.22% 15.71%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $12.09M $10.17M
YoY Change 18.87% 1464.31%
Depreciation, Depletion And Amortization $2.734M $3.184M
YoY Change -14.13% -16.39%
Cash From Operating Activities -$155.3M -$137.5M
YoY Change 12.93% 24.43%
INVESTING ACTIVITIES
Capital Expenditures $898.0K $1.182M
YoY Change -24.03% -71.61%
Acquisitions
YoY Change
Other Investing Activities -$1.600M -$4.800M
YoY Change -66.67% 200.0%
Cash From Investing Activities -$2.463M -$6.000M
YoY Change -58.95% 5.26%
FINANCING ACTIVITIES
Cash Dividend Paid $2.935M $2.471M
YoY Change 18.78% -4.89%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $8.000M
YoY Change -46.67%
Cash From Financing Activities -$7.894M 7.300M
YoY Change -208.14% -58.99%
NET CHANGE
Cash From Operating Activities -$155.3M -137.5M
Cash From Investing Activities -$2.463M -6.000M
Cash From Financing Activities -$7.894M 7.300M
Net Change In Cash -$165.5M -$134.2M
YoY Change 23.35% 36.35%
FREE CASH FLOW
Cash From Operating Activities -$155.3M -$137.5M
Capital Expenditures $898.0K $1.182M
Free Cash Flow -$156.2M -$138.7M
YoY Change 12.61% 20.95%

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CY2019Q1 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><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </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>
CY2019Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;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;"></font></div></div>

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