2013 Q3 Form 10-Q Financial Statement

#000110465913078311 Filed on October 28, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $4.932M $26.98M $96.41M
YoY Change -94.88% -16.09% 689.11%
Cost Of Revenue $2.021M $1.000M $0.00
YoY Change
Gross Profit $2.911M $26.00M $96.40M
YoY Change -96.98% -19.25%
Gross Profit Margin 59.02% 96.37% 99.99%
Selling, General & Admin $30.26M $41.60M $22.85M
YoY Change 32.47% 177.33% 109.6%
% of Gross Profit 1039.64% 160.0% 23.7%
Research & Development $23.02M $28.30M $23.45M
YoY Change -1.86% 16.94% 2.39%
% of Gross Profit 790.66% 108.85% 24.33%
Depreciation & Amortization $3.000M $2.800M $3.000M
YoY Change 0.0% 3.7% 30.43%
% of Gross Profit 103.06% 10.77% 3.11%
Operating Expenses $53.28M $69.90M $48.81M
YoY Change 9.17% 78.32% 44.25%
Operating Profit -$56.55M -$43.90M $47.61M
YoY Change -218.78% 527.14% -320.24%
Interest Expense $5.265M $0.00 $14.00K
YoY Change 37507.14% -100.0% -12.5%
% of Operating Profit 0.03%
Other Income/Expense, Net -$5.224M $45.00K $27.00K
YoY Change -19448.15% -22.41% -97.26%
Pretax Income -$61.80M -$43.90M $47.64M
YoY Change -229.74% 527.14% -330.9%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$61.78M -$43.90M $47.64M
YoY Change -229.68% 527.14% -331.24%
Net Earnings / Revenue -1252.53% -162.71% 49.41%
Basic Earnings Per Share -$0.51 -$0.41 $0.44
Diluted Earnings Per Share -$0.51 -$0.41 $0.42
COMMON SHARES
Basic Shares Outstanding 120.8M shares 107.3M shares
Diluted Shares Outstanding 120.8M shares 114.3M shares

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $242.4M $168.2M $193.3M
YoY Change 25.4% 2.56% 10.39%
Cash & Equivalents $144.5M $136.7M $125.9M
Short-Term Investments $97.90M $31.50M $67.50M
Other Short-Term Assets $9.800M $8.000M $7.900M
YoY Change 24.05% 175.86% 172.41%
Inventory $20.56M $6.699M $965.0K
Prepaid Expenses
Receivables $125.0K $457.0K $169.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $275.8M $184.4M $202.3M
YoY Change 36.31% 10.07% 13.17%
LONG-TERM ASSETS
Property, Plant & Equipment $37.23M $37.54M $36.47M
YoY Change 2.09% 11.63% 10.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.639M $283.0K $54.00K
YoY Change 8490.74% 105.07% -99.31%
Total Long-Term Assets $50.02M $45.47M $44.17M
YoY Change 13.23% 9.8% 8.53%
TOTAL ASSETS
Total Short-Term Assets $275.8M $184.4M $202.3M
Total Long-Term Assets $50.02M $45.47M $44.17M
Total Assets $325.8M $229.9M $246.5M
YoY Change 32.18% 10.02% 12.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.436M $14.22M $2.652M
YoY Change -8.14% 120.9% 10.5%
Accrued Expenses $18.80M $21.17M $16.69M
YoY Change 12.65% 90.35% -1.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $300.0K $300.0K
YoY Change 266.67% 50.0% 50.0%
Total Short-Term Liabilities $39.70M $54.94M $35.58M
YoY Change 11.59% -15.65% -49.78%
LONG-TERM LIABILITIES
Long-Term Debt $178.1M $300.0K $400.0K
YoY Change 44425.0% -25.0% -20.0%
Other Long-Term Liabilities $1.653M $992.0K $28.50M
YoY Change -94.2% -97.05% -19.03%
Total Long-Term Liabilities $1.653M $992.0K $28.90M
YoY Change -94.28% -97.08% -19.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.70M $54.94M $35.58M
Total Long-Term Liabilities $1.653M $992.0K $28.90M
Total Liabilities $41.35M $55.93M $64.40M
YoY Change -35.79% -43.56% -39.59%
SHAREHOLDERS EQUITY
Retained Earnings -$725.8M -$505.0M -$461.2M
YoY Change 57.39% 16.8%
Common Stock $809.9M $649.0M $643.2M
YoY Change 25.93% 19.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.21M $144.1M $182.1M
YoY Change
Total Liabilities & Shareholders Equity $325.8M $229.9M $246.5M
YoY Change 32.18% 10.02% 12.32%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$61.78M -$43.90M $47.64M
YoY Change -229.68% 527.14% -331.24%
Depreciation, Depletion And Amortization $3.000M $2.800M $3.000M
YoY Change 0.0% 3.7% 30.43%
Cash From Operating Activities -$58.00M -$22.40M $39.00M
YoY Change -248.72% 190.91% -253.54%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$3.400M -$3.600M
YoY Change -72.22% -8.11% 620.0%
Acquisitions
YoY Change
Other Investing Activities -$17.10M $35.70M $2.800M
YoY Change -710.71% 22.68% -93.93%
Cash From Investing Activities -$18.10M $32.20M -$600.0K
YoY Change 2916.67% 25.78% -101.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000M 1.100M 500.0K
YoY Change 100.0% 83.33% -16.67%
NET CHANGE
Cash From Operating Activities -58.00M -22.40M 39.00M
Cash From Investing Activities -18.10M 32.20M -600.0K
Cash From Financing Activities 1.000M 1.100M 500.0K
Net Change In Cash -75.10M 10.90M 38.90M
YoY Change -293.06% -41.08% 87.92%
FREE CASH FLOW
Cash From Operating Activities -$58.00M -$22.40M $39.00M
Capital Expenditures -$1.000M -$3.400M -$3.600M
Free Cash Flow -$57.00M -$19.00M $42.60M
YoY Change -233.8% 375.0% -271.08%

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WeightedAverageNumberOfDilutedSharesOutstanding
120768893 shares
CY2013Q3 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
97938000 USD
CY2013Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
125000 USD
CY2013Q3 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
2961000 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9789000 USD
CY2013Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
8147000 USD
CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
4639000 USD
CY2013Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
2436000 USD
CY2013Q3 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
5789000 USD
CY2013Q3 irwd Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
3711000 USD
CY2013Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
1115000 USD
CY2013Q3 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
2776000 USD
CY2013Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5074000 USD
CY2013Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
3427000 USD
CY2013Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
9519000 USD
CY2013Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
12684000 USD
CY2013Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1653000 USD
CY2013Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
809911000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-725842000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
19000 USD
CY2013Q3 us-gaap Revenues
Revenues
4932000 USD
us-gaap Revenues
Revenues
17850000 USD
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23016000 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30264000 USD
CY2013Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
20000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
79862000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
94508000 USD
CY2012Q3 irwd Collaboration Expense
CollaborationExpense
2506000 USD
irwd Collaboration Expense
CollaborationExpense
7662000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
5265000 USD
CY2013Q3 us-gaap Investment Income Net
InvestmentIncomeNet
41000 USD
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5224000 USD
us-gaap Interest Expense
InterestExpense
15704000 USD
us-gaap Investment Income Net
InvestmentIncomeNet
142000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-15562000 USD
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.93
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
14000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8647000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15291000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1084000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1599000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3632000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10347000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-120000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-13867000 USD
irwd Increase Decrease In Accrued Research And Development Expense
IncreaseDecreaseInAccruedResearchAndDevelopmentExpense
-1953000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-3647000 USD
irwd Increase Decrease In Deferred Rent Payables
IncreaseDecreaseInDeferredRentPayables
-2033000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
207307000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
139827000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5874000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137766000 USD
irwd Proceeds From Stock Options Exercised And Essp And Issuance Of Restricted Stock
ProceedsFromStockOptionsExercisedAndESSPAndIssuanceOfRestrictedStock
7833000 USD
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
499000 USD
CY2013Q3 us-gaap Capital Leases Future Minimum Payments Remainder Of Fiscal Year
CapitalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
300000 USD
CY2013Q3 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
1200000 USD
CY2013Q3 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
1200000 USD
CY2013Q3 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
2100000 USD

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