2014 Q2 Form 10-Q Financial Statement

#000005513514000027 Filed on August 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $1.411B $1.367B
YoY Change 3.19% 0.89%
Cost Of Revenue $1.182B $1.146B
YoY Change 3.16% 1.33%
Gross Profit $228.1M $220.7M
YoY Change 3.35% -1.34%
Gross Profit Margin 16.17% 16.15%
Selling, General & Admin $222.2M $202.6M
YoY Change 9.67% -3.06%
% of Gross Profit 97.41% 91.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.500M $5.200M
YoY Change 5.77% -8.77%
% of Gross Profit 2.41% 2.36%
Operating Expenses $222.2M $202.6M
YoY Change 9.67% -3.06%
Operating Profit $5.900M $16.40M
YoY Change -64.02% 11.56%
Interest Expense $700.0K $800.0K
YoY Change -12.5% -233.33%
% of Operating Profit 11.86% 4.88%
Other Income/Expense, Net -$300.0K -$1.600M
YoY Change -81.25%
Pretax Income $5.600M $14.80M
YoY Change -62.16% 4.96%
Income Tax $2.800M $4.800M
% Of Pretax Income 50.0% 32.43%
Net Earnings $2.800M $10.00M
YoY Change -72.0% 4.17%
Net Earnings / Revenue 0.2% 0.73%
Basic Earnings Per Share $0.07 $0.26
Diluted Earnings Per Share $0.07 $0.26
COMMON SHARES
Basic Shares Outstanding 37.40M shares 37.20M shares
Diluted Shares Outstanding 37.40M shares 37.20M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.80M $70.30M
YoY Change -10.67% -20.39%
Cash & Equivalents $62.80M $70.30M
Short-Term Investments
Other Short-Term Assets $89.10M $99.00M
YoY Change -10.0% 0.51%
Inventory
Prepaid Expenses
Receivables $1.133B $1.039B
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.285B $1.208B
YoY Change 6.35% 3.73%
LONG-TERM ASSETS
Property, Plant & Equipment $91.40M $87.20M
YoY Change 4.82% -3.43%
Goodwill $90.30M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $295.7M $330.9M
YoY Change -10.64% 26.35%
Total Long-Term Assets $608.2M $508.4M
YoY Change 19.63% 15.02%
TOTAL ASSETS
Total Short-Term Assets $1.285B $1.208B
Total Long-Term Assets $608.2M $508.4M
Total Assets $1.893B $1.717B
YoY Change 10.28% 6.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $328.4M $289.2M
YoY Change 13.55% 4.9%
Accrued Expenses $325.7M $309.1M
YoY Change 5.37% 1.58%
Deferred Revenue
YoY Change
Short-Term Debt $89.50M $0.00
YoY Change
Long-Term Debt Due $89.50M $83.20M
YoY Change 7.57% -12.14%
Total Short-Term Liabilities $818.5M $746.4M
YoY Change 9.66% 1.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $41.90M $192.8M
YoY Change -78.27% 8.38%
Total Long-Term Liabilities $234.0M $192.8M
YoY Change 21.37% 8.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $818.5M $746.4M
Total Long-Term Liabilities $234.0M $192.8M
Total Liabilities $1.053B $939.2M
YoY Change 12.06% 2.79%
SHAREHOLDERS EQUITY
Retained Earnings $752.8M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $840.5M $777.3M
YoY Change
Total Liabilities & Shareholders Equity $1.893B $1.717B
YoY Change 10.28% 6.83%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $2.800M $10.00M
YoY Change -72.0% 4.17%
Depreciation, Depletion And Amortization $5.500M $5.200M
YoY Change 5.77% -8.77%
Cash From Operating Activities -$16.70M -$20.10M
YoY Change -16.92% -250.0%
INVESTING ACTIVITIES
Capital Expenditures -$5.600M -$4.900M
YoY Change 14.29% 22.5%
Acquisitions
YoY Change
Other Investing Activities -$4.500M -$400.0K
YoY Change 1025.0% 0.0%
Cash From Investing Activities -$10.10M -$5.300M
YoY Change 90.57% 20.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 32.80M 30.90M
YoY Change 6.15% -835.71%
NET CHANGE
Cash From Operating Activities -16.70M -20.10M
Cash From Investing Activities -10.10M -5.300M
Cash From Financing Activities 32.80M 30.90M
Net Change In Cash 6.000M 5.500M
YoY Change 9.09% 14.58%
FREE CASH FLOW
Cash From Operating Activities -$16.70M -$20.10M
Capital Expenditures -$5.600M -$4.900M
Free Cash Flow -$11.10M -$15.20M
YoY Change -26.97% -187.36%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">New Accounting Pronouncements</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2014, the Financial Accounting Standards Board ("FASB") issued an accounting standard update that changes the definition of a discontinued operation to include only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on operations and financial results. The amendments are effective prospectively for fiscal periods (and interim reporting periods within those years) beginning on or after December 15, 2014 (early adoption is permitted). The adoption of this guidance is not expected to have a material effect on our results of operations, financial position or liquidity.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued new revenue recognition guidance under Accounting Standards Update ("ASU") 2014-09 that will supersede the existing revenue recognition guidance under US GAAP. The new standard focuses on creating a single source of revenue guidance for revenue arising from contracts with customers for all industries. The objective of the new standard is for companies to recognize revenue when it transfers the promised goods or services to its customers at an amount that represents what the company expects to be entitled to in exchange for those goods or services. This ASU is effective for annual periods, and interim periods within those annual periods, beginning on or after December 15, 2016. Early adoption is not permitted. We are currently evaluating the impact of the new guidance on our consolidated financial statements and related disclosures.</font></div></div>
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37400000 USD
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44800000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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3100000 USD
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1500000 USD
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1500000 USD
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15500000 USD
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24900000 USD
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20300000 USD
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18100000 USD
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74100000 USD
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61400000 USD
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35400000 USD
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CY2013Q4 us-gaap Additional Paid In Capital
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26000000 USD
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us-gaap Asset Impairment Charges
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CY2013Q2 us-gaap Asset Impairment Charges
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us-gaap Asset Impairment Charges
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1700000 USD
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CY2013Q4 us-gaap Assets
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101000000 USD
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19700000 USD
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20400000 USD
CY2014Q2 us-gaap Available For Sale Securities
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98000000 USD
CY2013Q4 us-gaap Available For Sale Securities
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80700000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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125700000 USD
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62800000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
76300000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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70300000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2013Q4 us-gaap Commitments And Contingencies
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0.05
us-gaap Common Stock Dividends Per Share Cash Paid
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0.1
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us-gaap Common Stock Dividends Per Share Cash Paid
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0.10
us-gaap Comprehensive Income Net Of Tax
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37300000 USD
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
19100000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18000000 USD
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
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15200000 USD
CY2013Q2 us-gaap Cost Of Services
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1146200000 USD
us-gaap Cost Of Services
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2290900000 USD
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1182400000 USD
us-gaap Cost Of Services
CostOfServices
2244100000 USD
CY2014Q2 us-gaap Deferred Compensation Liability Classified Noncurrent
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147400000 USD
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134700000 USD
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net Current
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35500000 USD
CY2014Q2 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
31500000 USD
CY2013Q4 us-gaap Deferred Tax Assets Net Noncurrent
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121700000 USD
CY2014Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
130800000 USD
us-gaap Depreciation Depletion And Amortization
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10500000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10800000 USD

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