2018 Q2 Form 10-Q Financial Statement

#000141881918000014 Filed on July 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $134.9M $111.6M
YoY Change 20.9% 2.21%
Cost Of Revenue $38.30M $10.87M
YoY Change 252.41% -61.6%
Gross Profit $96.70M $100.7M
YoY Change -4.01% 24.52%
Gross Profit Margin 71.67% 90.26%
Selling, General & Admin $24.27M $20.41M
YoY Change 18.89% -8.47%
% of Gross Profit 25.09% 20.26%
Research & Development $5.566M $3.014M
YoY Change 84.67% -24.65%
% of Gross Profit 5.76% 2.99%
Depreciation & Amortization $50.49M $20.20M
YoY Change 149.94% 57.29%
% of Gross Profit 52.21% 20.05%
Operating Expenses $29.83M $23.43M
YoY Change 27.35% -40.24%
Operating Profit $16.35M $35.74M
YoY Change -54.27% -14.35%
Interest Expense -$13.00M $21.60M
YoY Change -160.19% 13.68%
% of Operating Profit -79.54% 60.43%
Other Income/Expense, Net -$12.92M $776.0K
YoY Change -1764.95%
Pretax Income $3.425M $36.52M
YoY Change -90.62% -14.06%
Income Tax $7.843M $11.74M
% Of Pretax Income 228.99% 32.15%
Net Earnings -$4.418M $24.78M
YoY Change -117.83% -7.73%
Net Earnings / Revenue -3.27% 22.2%
Basic Earnings Per Share -$0.06 $0.21
Diluted Earnings Per Share -$0.06 $0.20
COMMON SHARES
Basic Shares Outstanding 111.1M shares 97.99M shares
Diluted Shares Outstanding 111.1M shares 126.9M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $375.9M $356.5M
YoY Change 5.44% -19.54%
Cash & Equivalents $176.1M $470.5M
Short-Term Investments $213.1M $21.30M
Other Short-Term Assets $25.00M $22.70M
YoY Change 10.13% 77.34%
Inventory $20.21M $20.40M
Prepaid Expenses
Receivables $74.72M $63.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $495.9M $463.0M
YoY Change 7.11% -13.76%
LONG-TERM ASSETS
Property, Plant & Equipment $3.335B $3.111B
YoY Change 7.19% 20.75%
Goodwill
YoY Change
Intangibles $49.25M
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.15M $145.8M
YoY Change -93.04% 28.23%
Total Long-Term Assets $3.584B $3.308B
YoY Change 8.36% 20.88%
TOTAL ASSETS
Total Short-Term Assets $495.9M $463.0M
Total Long-Term Assets $3.584B $3.308B
Total Assets $4.080B $3.771B
YoY Change 8.2% 15.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.73M $128.3M
YoY Change -79.95% 969.17%
Accrued Expenses $40.50M $43.20M
YoY Change -6.24% 20.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $108.0M
YoY Change
Total Short-Term Liabilities $227.7M $208.1M
YoY Change 9.42% 143.11%
LONG-TERM LIABILITIES
Long-Term Debt $1.922B $1.688B
YoY Change 13.84% 11.14%
Other Long-Term Liabilities $4.150M $33.08M
YoY Change -87.45% -39.86%
Total Long-Term Liabilities $4.150M $33.08M
YoY Change -87.45% -97.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $227.7M $208.1M
Total Long-Term Liabilities $4.150M $33.08M
Total Liabilities $2.473B $2.358B
YoY Change 4.88% 18.69%
SHAREHOLDERS EQUITY
Retained Earnings $522.2M $347.7M
YoY Change 50.19%
Common Stock $1.091B $1.070B
YoY Change 2.03% 1.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.607B $1.413B
YoY Change
Total Liabilities & Shareholders Equity $4.080B $3.771B
YoY Change 8.2% 15.2%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$4.418M $24.78M
YoY Change -117.83% -7.73%
Depreciation, Depletion And Amortization $50.49M $20.20M
YoY Change 149.94% 57.29%
Cash From Operating Activities $82.80M $56.00M
YoY Change 47.86% -9.39%
INVESTING ACTIVITIES
Capital Expenditures -$132.0M -$119.3M
YoY Change 10.65% 47.28%
Acquisitions
YoY Change
Other Investing Activities -$179.7M $11.60M
YoY Change -1649.14% -76.18%
Cash From Investing Activities -$311.9M -$107.7M
YoY Change 189.6% 232.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.00M -21.00M
YoY Change 19.05% -142.08%
NET CHANGE
Cash From Operating Activities 82.80M 56.00M
Cash From Investing Activities -311.9M -107.7M
Cash From Financing Activities -25.00M -21.00M
Net Change In Cash -254.1M -72.70M
YoY Change 249.52% -191.68%
FREE CASH FLOW
Cash From Operating Activities $82.80M $56.00M
Capital Expenditures -$132.0M -$119.3M
Free Cash Flow $214.8M $175.3M
YoY Change 22.53% 22.76%

Facts In Submission

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CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20919000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
55008000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6527000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1086000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24758000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
62671000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6521000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1085000 USD
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
776000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1522000 USD
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-12920000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-17048000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
35742000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
91344000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
16345000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
35784000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
8414000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
10153000 USD
CY2017Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1448000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
799000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3003000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2911000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-3000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-7000 USD
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
55000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
42000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59519000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4150000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-56000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-143000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
65000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
102000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1533000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
20440000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1753000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1512000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
0 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
201293000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
168172000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
215031000 USD
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q2 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
500000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
500000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000 shares
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25347000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25048000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
360000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
22207000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
17901000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
13266000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1572000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2996000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3210162000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3334758000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
26131000 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3014000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6241000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5566000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10149000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
102384000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
189797000 USD
CY2017Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
102300000 USD
CY2018Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
189700000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
518794000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
522150000 USD
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
111604000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216030000 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
134931000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254079000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20411000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
39628000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24266000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
46761000 USD
CY2017Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
0 USD
CY2018Q2 us-gaap Senior Long Term Notes
SeniorLongTermNotes
350450000 USD
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
5199239 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
28402248 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
13255896 shares
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1596469000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1606713000 USD
CY2018Q2 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
8700000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
20000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
55000 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-6000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126943000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126659000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111111000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109405000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97989000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97424000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111111000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
105927000 shares

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