$IPGP
IPG PHOTONICS CORP

2014 Q4 Form 10-Q Financial Statement

#000111192814000143 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $207.4M $199.7M $172.2M
YoY Change 25.05% 15.97% 10.09%
Cost Of Revenue $93.50M $90.56M $79.34M
YoY Change 10.91% 14.14% 12.67%
Gross Profit $113.9M $109.1M $92.81M
YoY Change 39.74% 17.54% 7.97%
Gross Profit Margin 54.93% 54.64% 53.91%
Selling, General & Admin $23.10M $21.67M $19.98M
YoY Change 14.36% 8.47% 21.85%
% of Gross Profit 20.28% 19.86% 21.52%
Research & Development $13.80M $13.45M $11.50M
YoY Change 26.61% 16.92% 48.17%
% of Gross Profit 12.11% 12.33% 12.39%
Depreciation & Amortization $9.200M $9.300M $8.500M
YoY Change 13.58% 9.41% 25.0%
% of Gross Profit 8.08% 8.53% 9.16%
Operating Expenses $36.90M $31.50M $33.04M
YoY Change 18.65% -4.66% 27.31%
Operating Profit $77.02M $77.59M $59.77M
YoY Change 52.74% 29.81% -0.39%
Interest Expense $2.700M -$4.000K $63.00K
YoY Change -268.75% -106.35% 14.55%
% of Operating Profit 3.51% -0.01% 0.11%
Other Income/Expense, Net $100.0K $158.0K $281.0K
YoY Change 0.0% -43.77% 8.08%
Pretax Income $79.80M $77.75M $60.05M
YoY Change 62.86% 29.46% -0.35%
Income Tax $23.30M $22.55M $17.72M
% Of Pretax Income 29.2% 29.0% 29.5%
Net Earnings $56.43M $55.20M $42.34M
YoY Change 54.2% 30.38% -0.23%
Net Earnings / Revenue 27.21% 27.65% 24.59%
Basic Earnings Per Share $1.08 $1.06 $0.82
Diluted Earnings Per Share $1.07 $1.05 $0.81
COMMON SHARES
Basic Shares Outstanding 52.18M shares 52.09M shares 51.50M shares
Diluted Shares Outstanding 52.79M shares 52.37M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $522.2M $487.5M $398.4M
YoY Change 16.35% 22.36% 6.92%
Cash & Equivalents $522.2M $487.5M $398.4M
Short-Term Investments
Other Short-Term Assets $57.60M $59.60M $58.90M
YoY Change -5.57% 1.19% 37.62%
Inventory $171.0M $179.5M $171.3M
Prepaid Expenses
Receivables $143.1M $136.6M $120.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $893.8M $863.3M $749.2M
YoY Change 13.67% 15.22% 13.33%
LONG-TERM ASSETS
Property, Plant & Equipment $275.1M $271.3M $236.5M
YoY Change 9.05% 14.71% 21.16%
Goodwill $455.0K $455.0K $455.0K
YoY Change 0.0% 0.0%
Intangibles $9.227M $9.847M $10.13M
YoY Change -3.52% -2.8%
Long-Term Investments
YoY Change
Other Assets $26.85M $30.87M $7.395M
YoY Change 243.75% 317.47% -33.38%
Total Long-Term Assets $317.0M $322.1M $260.6M
YoY Change 15.34% 23.62% 19.92%
TOTAL ASSETS
Total Short-Term Assets $893.8M $863.3M $749.2M
Total Long-Term Assets $317.0M $322.1M $260.6M
Total Assets $1.211B $1.185B $1.010B
YoY Change 14.1% 17.39% 14.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.14M $18.97M $14.29M
YoY Change -8.76% 32.72% -0.05%
Accrued Expenses $64.06M $66.86M $59.55M
YoY Change 7.96% 12.27% 75.16%
Deferred Revenue
YoY Change
Short-Term Debt $2.600M $2.300M $1.500M
YoY Change -21.21% 53.33% -69.39%
Long-Term Debt Due $13.33M $11.67M $1.333M
YoY Change 900.23% 775.24% -16.69%
Total Short-Term Liabilities $122.1M $128.0M $105.8M
YoY Change 21.98% 20.99% -12.77%
LONG-TERM LIABILITIES
Long-Term Debt $19.67M $0.00 $11.67M
YoY Change 73.54% -100.0% -18.41%
Other Long-Term Liabilities $22.58M $20.67M $16.64M
YoY Change 3.43% 24.27%
Total Long-Term Liabilities $42.25M $20.67M $28.30M
YoY Change 27.38% -26.96% 97.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.1M $128.0M $105.8M
Total Long-Term Liabilities $42.25M $20.67M $28.30M
Total Liabilities $164.3M $148.7M $134.1M
YoY Change 23.32% 10.87% -9.87%
SHAREHOLDERS EQUITY
Retained Earnings $591.2M $534.8M $354.2M
YoY Change 51.3% 51.0%
Common Stock $567.6M $556.4M $526.5M
YoY Change 5.33% 5.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.047B $1.037B $875.7M
YoY Change
Total Liabilities & Shareholders Equity $1.211B $1.185B $1.010B
YoY Change 14.1% 17.39% 14.96%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $56.43M $55.20M $42.34M
YoY Change 54.2% 30.38% -0.23%
Depreciation, Depletion And Amortization $9.200M $9.300M $8.500M
YoY Change 13.58% 9.41% 25.0%
Cash From Operating Activities $56.00M $47.20M $36.70M
YoY Change -4.11% 28.61% -3.42%
INVESTING ACTIVITIES
Capital Expenditures -$15.90M -$28.90M -$14.00M
YoY Change -29.65% 106.43% -10.83%
Acquisitions
YoY Change
Other Investing Activities $0.00 $200.0K $100.0K
YoY Change -100.0% 100.0% -104.76%
Cash From Investing Activities -$15.90M -$28.70M -$14.00M
YoY Change -29.96% 105.0% -21.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.900M 0.000 1.700M
YoY Change -35.51% -100.0% -67.31%
NET CHANGE
Cash From Operating Activities 56.00M 47.20M 36.70M
Cash From Investing Activities -15.90M -28.70M -14.00M
Cash From Financing Activities 6.900M 0.000 1.700M
Net Change In Cash 47.00M 18.50M 24.40M
YoY Change 1.29% -24.18% -3.56%
FREE CASH FLOW
Cash From Operating Activities $56.00M $47.20M $36.70M
Capital Expenditures -$15.90M -$28.90M -$14.00M
Free Cash Flow $71.90M $76.10M $50.70M
YoY Change -11.23% 50.1% -5.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements have been prepared by IPG Photonics Corporation, or "IPG", "we", "our", "its" or the "Company". Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The consolidated financial statements include the Company's accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the Company's Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the opinion of the Company's management, the unaudited financial information for the interim periods presented reflects all adjustments necessary for a fair presentation of the Company's financial position, results of operations and cash flows. The results reported in these consolidated financial statements are not necessarily indicative of results that may be expected for the entire year.</font></div><div style="line-height:120%;padding-top:12px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has evaluated subsequent events through the time of filing this Quarterly Report on Form 10-Q with the SEC.</font></div></div>
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BasicNetIncomePerShareAttributableToParent
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ipgp Basic Net Income Per Share Attributable To Parent
BasicNetIncomePerShareAttributableToParent
2.32
ipgp Basic Net Income Per Share Attributable To Parent
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DilutedNetIncomePerShareAttributableToParent
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001111928
CY2014Q4 dei Entity Common Stock Shares Outstanding
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dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
IPG PHOTONICS CORP

Files In Submission

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