2010 Q2 Form 10-Q Financial Statement

#000079923310000036 Filed on August 06, 2010

View on sec.gov

Income Statement

Concept 2010 Q2 2009 Q2
Revenue $127.4M $117.0M
YoY Change 8.92% -28.93%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $88.50M $83.10M
YoY Change 6.5% -35.53%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.38M $13.16M
YoY Change 16.86% 22.99%
% of Gross Profit
Operating Expenses $107.4M $99.50M
YoY Change 7.94% -30.76%
Operating Profit $22.03M $21.71M
YoY Change 1.5%
Interest Expense $400.0K $600.0K
YoY Change -33.33% -72.73%
% of Operating Profit 1.82% 2.76%
Other Income/Expense, Net
YoY Change
Pretax Income $22.45M $22.27M
YoY Change 0.8% -3.59%
Income Tax $5.796M $4.656M
% Of Pretax Income 25.82% 20.91%
Net Earnings $16.65M $17.62M
YoY Change -5.46% 2.41%
Net Earnings / Revenue 13.07% 15.06%
Basic Earnings Per Share $0.18 $0.19
Diluted Earnings Per Share $184.1K $194.0K
COMMON SHARES
Basic Shares Outstanding 90.69M shares 90.69M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2010 Q2 2009 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $152.3M $44.70M
YoY Change 240.72% 58.51%
Cash & Equivalents $116.3M $44.58M
Short-Term Investments $36.00M $100.0K
Other Short-Term Assets $5.129M $48.40M
YoY Change -89.4% 11.52%
Inventory
Prepaid Expenses
Receivables $42.59M $36.90M
Other Receivables $1.400M $2.000M
Total Short-Term Assets $219.8M $132.0M
YoY Change 66.53% 5.94%
LONG-TERM ASSETS
Property, Plant & Equipment $237.2M $240.4M
YoY Change -1.31% 11.24%
Goodwill $4.815M
YoY Change
Intangibles
YoY Change
Long-Term Investments $102.9M $160.3M
YoY Change -35.81% -14.28%
Other Assets $6.300M $5.500M
YoY Change 14.55% -3.51%
Total Long-Term Assets $351.3M $411.0M
YoY Change -14.53% -0.63%
TOTAL ASSETS
Total Short-Term Assets $219.8M $132.0M
Total Long-Term Assets $351.3M $411.0M
Total Assets $571.1M $543.0M
YoY Change 5.18% 0.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.500M $14.10M
YoY Change -39.72% -5.37%
Accrued Expenses $43.60M $94.60M
YoY Change -53.91% 6.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.04M $108.7M
YoY Change -52.12% 3.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $82.40M $30.60M
YoY Change 169.28% -10.26%
Total Long-Term Liabilities $126.7M $30.60M
YoY Change 314.19% -10.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.04M $108.7M
Total Long-Term Liabilities $126.7M $30.60M
Total Liabilities $178.8M $200.2M
YoY Change -10.7% 6.43%
SHAREHOLDERS EQUITY
Retained Earnings $396.6M
YoY Change
Common Stock $1.346M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $392.3M $342.8M
YoY Change
Total Liabilities & Shareholders Equity $571.1M $543.0M
YoY Change 5.18% 0.89%

Cashflow Statement

Concept 2010 Q2 2009 Q2
OPERATING ACTIVITIES
Net Income $16.65M $17.62M
YoY Change -5.46% 2.41%
Depreciation, Depletion And Amortization $15.38M $13.16M
YoY Change 16.86% 22.99%
Cash From Operating Activities $19.20M $13.80M
YoY Change 39.13% 3.76%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$23.00M
YoY Change -100.0% 3733.33%
Acquisitions
YoY Change
Other Investing Activities $11.20M $9.000M
YoY Change 24.44% 718.18%
Cash From Investing Activities $11.20M -$14.00M
YoY Change -180.0% -2433.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.800M -1.800M
YoY Change 0.0% -5.26%
NET CHANGE
Cash From Operating Activities 19.20M 13.80M
Cash From Investing Activities 11.20M -14.00M
Cash From Financing Activities -1.800M -1.800M
Net Change In Cash 28.60M -2.000M
YoY Change -1530.0% -116.67%
FREE CASH FLOW
Cash From Operating Activities $19.20M $13.80M
Capital Expenditures $0.00 -$23.00M
Free Cash Flow $19.20M $36.80M
YoY Change -47.83% 164.75%

Facts In Submission

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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;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;"><font style="font-family:inherit;font-size:10pt;">&nbsp;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. There were no significant changes in estimates and assumptions used by management related to our critical accounting policies during the six months ended June 30, 2010. </font></div><div style="line-height:120%;"><font style="font-family:inherit;font-size:10pt;"></font></div></div>
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us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
10901000 USD
CY2009Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2010Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-255000 USD
CY2009Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
31323000 USD
CY2010Q2 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
26362000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
28285000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
45360000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2010Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
395000000 shares
CY2009Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
395000000 shares
us-gaap Operating Income Loss
OperatingIncomeLoss
37864000 USD
CY2009Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21708000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
40749000 USD
CY2010Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22033000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5386000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1810000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3560000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
88000 USD
CY2009Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37361000 USD
CY2010Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
42592000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
42183000 USD
CY2009Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22271000 USD
CY2010Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22449000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
38683000 USD
CY2010Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6849000 USD
CY2009Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7095000 USD

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