2013 Q2 Form 10-Q Financial Statement

#000110465913060361 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $38.09M $47.34M
YoY Change -19.54% 90.71%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.400M $3.200M
YoY Change 6.25% 10.34%
% of Gross Profit
Research & Development $42.63M $40.44M
YoY Change 5.43% 12.29%
% of Gross Profit
Depreciation & Amortization $2.400M
YoY Change
% of Gross Profit
Operating Expenses $46.02M $43.64M
YoY Change 5.44% 12.24%
Operating Profit -$7.928M $3.696M
YoY Change -314.5% -126.29%
Interest Expense $4.808M $5.219M
YoY Change -7.88% 51.85%
% of Operating Profit 141.21%
Other Income/Expense, Net
YoY Change
Pretax Income -$11.31M -$1.207M
YoY Change 836.79% -93.25%
Income Tax -$1.200M $0.00
% Of Pretax Income
Net Earnings -$10.10M -$1.200M
YoY Change 741.67% -93.3%
Net Earnings / Revenue -26.51% -2.53%
Basic Earnings Per Share
Diluted Earnings Per Share -$81.98K -$0.01
COMMON SHARES
Basic Shares Outstanding 108.5M shares 100.2M shares
Diluted Shares Outstanding 108.5M shares 100.2M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $590.8M $336.0M
YoY Change 75.82% -14.98%
Cash & Equivalents $296.5M $85.65M
Short-Term Investments $294.2M $250.4M
Other Short-Term Assets $5.786M $5.700M
YoY Change 1.51% -25.0%
Inventory $8.300M $7.100M
Prepaid Expenses
Receivables $2.000M $1.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $669.1M $350.4M
YoY Change 90.93% -14.68%
LONG-TERM ASSETS
Property, Plant & Equipment $88.31M $94.00M
YoY Change -6.05% 6.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments -$5.563M
YoY Change
Other Assets $5.600M $2.500M
YoY Change 124.0% -24.24%
Total Long-Term Assets $119.6M $122.0M
YoY Change -1.96% 2.59%
TOTAL ASSETS
Total Short-Term Assets $669.1M $350.4M
Total Long-Term Assets $119.6M $122.0M
Total Assets $788.7M $472.4M
YoY Change 66.95% -10.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.461M $6.200M
YoY Change 52.6% 100.0%
Accrued Expenses $16.51M $20.60M
YoY Change -19.83% 34.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.900M $5.300M
YoY Change -7.55% 8.16%
Total Short-Term Liabilities $87.00M $55.06M
YoY Change 57.99% -40.15%
LONG-TERM LIABILITIES
Long-Term Debt $225.4M $225.7M
YoY Change -0.13% 12.12%
Other Long-Term Liabilities $75.20M $37.30M
YoY Change 101.61% 54.77%
Total Long-Term Liabilities $300.6M $263.0M
YoY Change 14.3% 16.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.00M $55.06M
Total Long-Term Liabilities $300.6M $263.0M
Total Liabilities $387.6M $318.1M
YoY Change 21.85% 0.21%
SHAREHOLDERS EQUITY
Retained Earnings -$918.8M
YoY Change
Common Stock $1.293B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $401.1M $154.3M
YoY Change
Total Liabilities & Shareholders Equity $788.7M $472.4M
YoY Change 66.95% -10.8%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$10.10M -$1.200M
YoY Change 741.67% -93.3%
Depreciation, Depletion And Amortization $2.400M
YoY Change
Cash From Operating Activities $22.80M -$2.600M
YoY Change -976.92% -90.08%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$800.0K
YoY Change -50.0% -76.47%
Acquisitions
YoY Change
Other Investing Activities -$31.50M $24.80M
YoY Change -227.02% -11.43%
Cash From Investing Activities -$31.80M $24.10M
YoY Change -231.95% -2.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $173.3M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 197.9M 7.800M
YoY Change 2437.18% 2500.0%
NET CHANGE
Cash From Operating Activities 22.80M -2.600M
Cash From Investing Activities -31.80M 24.10M
Cash From Financing Activities 197.9M 7.800M
Net Change In Cash 188.9M 29.30M
YoY Change 544.71% -2541.67%
FREE CASH FLOW
Cash From Operating Activities $22.80M -$2.600M
Capital Expenditures -$400.0K -$800.0K
Free Cash Flow $23.20M -$1.800M
YoY Change -1388.89% -92.11%

Facts In Submission

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AccruedIncomeTaxesCurrent
8727000 USD
CY2013Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
4853000 USD
CY2013Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
40409000 USD
CY2013Q2 us-gaap Liabilities Current
LiabilitiesCurrent
86995000 USD
CY2013Q2 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
75184000 USD
CY2013Q2 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
147099000 USD
CY2013Q2 isis Capital Lease And Other Long Term Borrowings Non Current
CapitalLeaseAndOtherLongTermBorrowingsNonCurrent
7382000 USD
CY2013Q2 isis Long Term Financing Obligation
LongTermFinancingObligation
70910000 USD
CY2013Q2 us-gaap Liabilities
Liabilities
387570000 USD
CY2013Q2 us-gaap Common Stock Value
CommonStockValue
114000 USD
CY2013Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1292745000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-918764000 USD
CY2013Q2 isis Research And Development Revenue Under Collaborative Agreements
ResearchAndDevelopmentRevenueUnderCollaborativeAgreements
37615000 USD
CY2013Q2 isis Licensing And Royalty Revenue
LicensingAndRoyaltyRevenue
477000 USD
isis Research And Development Revenue Under Collaborative Agreements
ResearchAndDevelopmentRevenueUnderCollaborativeAgreements
79535000 USD
isis Licensing And Royalty Revenue
LicensingAndRoyaltyRevenue
1916000 USD
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
42631000 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3389000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6811000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
80944000 USD
CY2013Q2 us-gaap Investment Income Net
InvestmentIncomeNet
589000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
967000 USD
CY2013Q2 us-gaap Gain Loss On Investments
GainLossOnInvestments
840000 USD
us-gaap Gain Loss On Investments
GainLossOnInvestments
1898000 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.11
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108539000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108539000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105225000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105225000 shares
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
9202000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
15669000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
96926000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
591000 USD
isis Payments To Acquire Licenses And Other Assets
PaymentsToAcquireLicensesAndOtherAssets
1171000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
36879000 USD
isis Proceeds From Equipment Financing Arrangement
ProceedsFromEquipmentFinancingArrangement
2513000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
5573000 USD
us-gaap Interest Paid
InterestPaid
2977000 USD
isis Noncash Capital And Patent Expenditures
NoncashCapitalAndPatentExpenditures
1055000 USD
us-gaap Revenue Recognition Milestone Method Revenue Recognized
RevenueRecognitionMilestoneMethodRevenueRecognized
46000000 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
275000 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
288000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
173223000 USD
CY2013Q2 isis Sale Of Stock Number Of Shares Issued At Over Allotment Option
SaleOfStockNumberOfSharesIssuedAtOverAllotmentOption
617869 shares

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