2018 Q4 Form 10-Q Financial Statement

#000141881918000017 Filed on October 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $132.2M $136.8M $116.5M
YoY Change 14.46% 17.35% 3.33%
Cost Of Revenue $34.10M $36.30M $12.19M
YoY Change 4.92% 197.88% 6.19%
Gross Profit $98.00M $100.5M $104.4M
YoY Change 18.07% -3.7% 3.0%
Gross Profit Margin 74.15% 73.48% 89.54%
Selling, General & Admin $23.80M $27.26M $18.47M
YoY Change -9.51% 47.56% -1.58%
% of Gross Profit 24.29% 27.12% 17.7%
Research & Development $7.200M $5.058M $3.981M
YoY Change 44.0% 27.05% -20.98%
% of Gross Profit 7.35% 5.03% 3.81%
Depreciation & Amortization $67.10M $62.14M $22.94M
YoY Change 132.99% 170.83% 94.29%
% of Gross Profit 68.47% 61.83% 21.99%
Operating Expenses $98.20M $32.31M $22.45M
YoY Change 63.39% 43.92% -5.68%
Operating Profit -$142.0K $6.011M $38.08M
YoY Change -98.98% -84.22% -23.48%
Interest Expense -$25.10M -$20.10M $1.200M
YoY Change -1892.86% -1775.0% -93.94%
% of Operating Profit -334.39% 3.15%
Other Income/Expense, Net $400.0K -$20.52M $1.226M
YoY Change -500.0% -1774.06% 182.49%
Pretax Income -$24.90M -$14.51M $39.31M
YoY Change 97.62% -136.92% -21.7%
Income Tax -$17.30M -$1.657M $10.06M
% Of Pretax Income 25.58%
Net Earnings -$7.582M -$12.86M $29.25M
YoY Change -105.34% -143.95% -7.3%
Net Earnings / Revenue -5.74% -9.4% 25.1%
Basic Earnings Per Share -$0.09 -$0.13 $0.26
Diluted Earnings Per Share -$0.09 -$0.13 $0.23
COMMON SHARES
Basic Shares Outstanding 111.3M shares 111.6M shares 98.29M shares
Diluted Shares Outstanding 111.6M shares 127.2M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $273.4M $381.5M $350.4M
YoY Change -8.13% 8.88% -17.82%
Cash & Equivalents $273.4M $381.5M $330.1M
Short-Term Investments $0.00 $0.00 $27.90M
Other Short-Term Assets $18.30M $20.20M $23.80M
YoY Change -27.67% -15.13% 9.17%
Inventory $27.54M $22.21M $17.53M
Prepaid Expenses
Receivables $71.21M $73.53M $61.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $390.4M $497.4M $452.8M
YoY Change -5.03% 9.86% -14.77%
LONG-TERM ASSETS
Property, Plant & Equipment $3.371B $3.357B $3.170B
YoY Change 5.01% 5.89% 17.58%
Goodwill
YoY Change
Intangibles $48.54M $48.90M $50.38M
YoY Change -2.96% -2.95%
Long-Term Investments
YoY Change
Other Assets $12.56M $12.52M $9.307M
YoY Change 49.24% 34.48% -92.54%
Total Long-Term Assets $3.624B $3.609B $3.332B
YoY Change 7.5% 8.33% 16.21%
TOTAL ASSETS
Total Short-Term Assets $390.4M $497.4M $452.8M
Total Long-Term Assets $3.624B $3.609B $3.332B
Total Assets $4.014B $4.107B $3.785B
YoY Change 6.14% 8.51% 11.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.87M $12.86M $54.97M
YoY Change -70.14% -76.62% 45.82%
Accrued Expenses $56.99M $47.87M $31.87M
YoY Change 76.91% 50.21% -18.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $126.0M $180.0M
YoY Change 47.37%
Total Short-Term Liabilities $262.7M $325.2M $163.0M
YoY Change 22.64% 99.42% 42.15%
LONG-TERM LIABILITIES
Long-Term Debt $1.830B $1.857B $1.696B
YoY Change 13.08% 9.48% 9.63%
Other Long-Term Liabilities $4.160M $4.134M $32.33M
YoY Change -93.01% -87.21% -55.83%
Total Long-Term Liabilities $4.160M $4.134M $32.33M
YoY Change -93.01% -87.21% -98.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $262.7M $325.2M $163.0M
Total Long-Term Liabilities $4.160M $4.134M $32.33M
Total Liabilities $2.413B $2.507B $2.336B
YoY Change 10.39% 7.33% 12.33%
SHAREHOLDERS EQUITY
Retained Earnings $501.7M $509.3M $376.9M
YoY Change -3.29% 35.12%
Common Stock $1.109B $1.098B $1.076B
YoY Change 2.51% 2.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.602B $1.600B $1.449B
YoY Change
Total Liabilities & Shareholders Equity $4.014B $4.107B $3.785B
YoY Change 6.14% 8.51% 11.37%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$7.582M -$12.86M $29.25M
YoY Change -105.34% -143.95% -7.3%
Depreciation, Depletion And Amortization $67.10M $62.14M $22.94M
YoY Change 132.99% 170.83% 94.29%
Cash From Operating Activities $38.20M $84.40M $83.30M
YoY Change -32.27% 1.32% 49.28%
INVESTING ACTIVITIES
Capital Expenditures -$96.70M -$79.70M -$122.5M
YoY Change -11.61% -34.94% 63.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $200.5M $1.000M
YoY Change -100.0% 19950.0% -95.74%
Cash From Investing Activities -$96.60M $120.8M -$121.5M
YoY Change -4.26% -199.42% 136.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.10M 2.000M 21.80M
YoY Change -8116.67% -90.83% 707.41%
NET CHANGE
Cash From Operating Activities 38.20M 84.40M 83.30M
Cash From Investing Activities -96.60M 120.8M -121.5M
Cash From Financing Activities -48.10M 2.000M 21.80M
Net Change In Cash -106.5M 207.2M -16.40M
YoY Change 142.6% -1363.41% -330.99%
FREE CASH FLOW
Cash From Operating Activities $38.20M $84.40M $83.30M
Capital Expenditures -$96.70M -$79.70M -$122.5M
Free Cash Flow $134.9M $164.1M $205.8M
YoY Change -18.64% -20.26% 57.34%

Facts In Submission

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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16259000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
241647000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-271800000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-282251000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
203218000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
225538000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
29253000 USD
us-gaap Net Income Loss
NetIncomeLoss
91979000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-12856000 USD
us-gaap Net Income Loss
NetIncomeLoss
-5802000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
25394000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
80402000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14940000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13854000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
29228000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
91900000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14925000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-13840000 USD
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1226000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2748000 USD
CY2018Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-20524000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-37572000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
38082000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
129426000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
6011000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
41795000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
8414000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12516000 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1059000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1858000 USD
CY2018Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1070000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3981000 USD
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
8000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1000 USD
CY2018Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-26000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
16000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
59519000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4134000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-20000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-163000 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-379000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-277000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3412000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
21064000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1805000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1655000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
4991000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
235528000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
290712000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
294729000 USD
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q3 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
500000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
500000 shares
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25347000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
20214000 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
23903000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
248006000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3128000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5860000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3210162000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3356948000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
26131000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3981000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10222000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5058000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15207000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
102384000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
190912000 USD
CY2017Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
102300000 USD
CY2018Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
190800000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
518794000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
509294000 USD
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
116547000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
332577000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
136764000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
390843000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18471000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
58099000 USD
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27255000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
74016000 USD
CY2017Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
0 USD
CY2018Q3 us-gaap Senior Long Term Notes
SeniorLongTermNotes
350531000 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
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
13271104 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
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
1599781000 USD
CY2018Q2 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
8500000 USD
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
25000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
79000 USD
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-15000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-14000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127188000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126839000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111592000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
107840000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98290000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97716000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111592000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
107840000 shares

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