2019 Q1 Form 10-Q Financial Statement

#000140549519000020 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $68.63M $87.44M
YoY Change -21.51% -7.5%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.22M $14.20M
YoY Change 0.08% 2.18%
% of Gross Profit
Research & Development $18.50M $16.17M
YoY Change 14.35% -18.23%
% of Gross Profit
Depreciation & Amortization $18.51M $14.70M
YoY Change 25.95% 1.18%
% of Gross Profit
Operating Expenses $32.71M $30.38M
YoY Change 7.68% -9.81%
Operating Profit -$150.0K $30.15M
YoY Change -100.5% -11.24%
Interest Expense $9.478M $4.565M
YoY Change 107.62% 4.08%
% of Operating Profit 15.14%
Other Income/Expense, Net -$300.0K $0.00
YoY Change -100.0%
Pretax Income -$6.013M $23.81M
YoY Change -125.25% -23.56%
Income Tax -$1.799M -$4.915M
% Of Pretax Income -20.64%
Net Earnings -$2.803M $30.23M
YoY Change -109.27% -10.45%
Net Earnings / Revenue -4.08% 34.57%
Basic Earnings Per Share -$0.09 $0.87
Diluted Earnings Per Share -$0.09 $0.85
COMMON SHARES
Basic Shares Outstanding 32.61M shares 34.64M shares
Diluted Shares Outstanding 32.61M shares 35.61M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $793.0M $1.117B
YoY Change -28.98% 26.01%
Cash & Equivalents $503.2M $417.5M
Short-Term Investments $289.8M $699.1M
Other Short-Term Assets $49.60M $25.00M
YoY Change 98.4% -53.36%
Inventory
Prepaid Expenses
Receivables $33.30M $66.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $875.9M $1.208B
YoY Change -27.51% -9.97%
LONG-TERM ASSETS
Property, Plant & Equipment $10.58M $10.19M
YoY Change 3.89% -15.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $66.74M $47.66M
YoY Change 40.03% 39.9%
Total Long-Term Assets $603.8M $417.8M
YoY Change 44.53% -20.15%
TOTAL ASSETS
Total Short-Term Assets $875.9M $1.208B
Total Long-Term Assets $603.8M $417.8M
Total Assets $1.480B $1.626B
YoY Change -9.0% -12.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.90M $13.60M
YoY Change 68.38% -23.16%
Accrued Expenses $26.70M $24.50M
YoY Change 8.98% 28.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $302.5M
YoY Change
Total Short-Term Liabilities $448.2M $126.2M
YoY Change 255.14% -69.57%
LONG-TERM LIABILITIES
Long-Term Debt $19.06M $288.5M
YoY Change -93.39% 4.83%
Other Long-Term Liabilities $48.46M $9.764M
YoY Change 396.28% -40.46%
Total Long-Term Liabilities $67.52M $298.3M
YoY Change -77.36% 2.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $448.2M $126.2M
Total Long-Term Liabilities $67.52M $298.3M
Total Liabilities $654.2M $590.4M
YoY Change 10.81% -46.58%
SHAREHOLDERS EQUITY
Retained Earnings $1.422B $1.437B
YoY Change -1.07%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.292B $1.079B
YoY Change 19.79% 1.29%
Treasury Stock Shares
Shareholders Equity $812.8M $1.019B
YoY Change
Total Liabilities & Shareholders Equity $1.480B $1.626B
YoY Change -9.0% -12.82%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$2.803M $30.23M
YoY Change -109.27% -10.45%
Depreciation, Depletion And Amortization $18.51M $14.70M
YoY Change 25.95% 1.18%
Cash From Operating Activities -$30.78M -$595.0K
YoY Change 5073.28% -97.7%
INVESTING ACTIVITIES
Capital Expenditures $1.584M $399.0K
YoY Change 296.99% 48.88%
Acquisitions
YoY Change
Other Investing Activities $183.1M $20.00M
YoY Change 815.5% -110.06%
Cash From Investing Activities $173.0M $11.52M
YoY Change 1402.32% -105.56%
FINANCING ACTIVITIES
Cash Dividend Paid $11.63M $12.16M
YoY Change -4.33% 18.1%
Common Stock Issuance & Retirement, Net $109.0M $6.024M
YoY Change 1709.2%
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -$114.4M -$26.46M
YoY Change 332.33% -17.75%
NET CHANGE
Cash From Operating Activities -$30.78M -$595.0K
Cash From Investing Activities $173.0M $11.52M
Cash From Financing Activities -$114.4M -$26.46M
Net Change In Cash $27.88M -$15.53M
YoY Change -279.48% -94.14%
FREE CASH FLOW
Cash From Operating Activities -$30.78M -$595.0K
Capital Expenditures $1.584M $399.0K
Free Cash Flow -$32.37M -$994.0K
YoY Change 3156.04% -96.19%

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13634000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5362000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2184000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2920000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2883000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3386000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
5582000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
8383000 USD
CY2019Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
11097000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
60465000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
66742000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1747000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1045000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1747000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1045000 USD
CY2019Q1 us-gaap Other Liabilities Fair Value Disclosure
OtherLiabilitiesFairValueDisclosure
20510000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
34139000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
48457000 USD
CY2018Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-4000 USD
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
624000 USD
CY2018Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-6336000 USD
CY2019Q1 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-5863000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6024000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
108986000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
12155000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
11629000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8277000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4097000 USD
CY2018Q1 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
4250000 USD
CY2019Q1 us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
0 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
399000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1584000 USD
CY2018Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
94134000 USD
CY2019Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
707000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.10
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
14399000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
14399000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2019Q1 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
43438000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
49579000 USD
CY2015Q2 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
5600000 USD
CY2018Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2019Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
10333000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
118336000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
183809000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
28729000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-4214000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10051000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10581000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16174000 USD
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18495000 USD
CY2018Q4 us-gaap Restricted Cash
RestrictedCash
13677000 USD
CY2019Q1 us-gaap Restricted Cash
RestrictedCash
13372000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1257632000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1437283000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1435970000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1421884000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
87444000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
68631000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
189375000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
248250000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
178583000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
85228000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14204000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
14215000 USD
CY2018Q4 us-gaap Senior Notes
SeniorNotes
298951000 USD
CY2019Q1 us-gaap Senior Notes
SeniorNotes
302514000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
816000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2096000 USD
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
470724000 USD
CY2019Q1 us-gaap Short Term Investments
ShortTermInvestments
289805000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
212000 USD
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
8277000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
4097000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
873148000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
936729000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
812806000 USD
CY2018Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
2119722000 USD
CY2019Q1 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
2104785000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1035732000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
938013000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
825513000 USD
CY2018Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
1508000 USD
CY2019Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
7000 USD
CY2017Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
36127000 shares
CY2018Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
36211000 shares
CY2018Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
37605000 shares
CY2019Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
39190000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1072488000 USD
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1078512000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1182993000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
1291979000 USD
CY2018Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
29900000 USD
CY2019Q1 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
50600000 USD
CY2018Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
6100000 USD
CY2019Q1 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
5400000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
314000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
965000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35606000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32611000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34641000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32611000 shares

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