2019 Q1 Form 10-Q Financial Statement

#000005513519000015 Filed on May 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q2
Revenue $1.383B $1.370B
YoY Change 6.22%
Cost Of Revenue $1.131B $1.132B
YoY Change 6.96%
Gross Profit $251.6M $238.2M
YoY Change 2.85%
Gross Profit Margin 18.2% 17.39%
Selling, General & Admin $234.8M $226.2M
YoY Change 5.11%
% of Gross Profit 93.32% 94.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.600M $6.300M
YoY Change 18.87%
% of Gross Profit 3.02% 2.64%
Operating Expenses $234.8M $226.2M
YoY Change 5.11%
Operating Profit $16.80M $12.00M
YoY Change -26.83%
Interest Expense $1.100M $800.0K
YoY Change 60.0%
% of Operating Profit 6.55% 6.67%
Other Income/Expense, Net -$1.100M -$1.700M
YoY Change 6.25%
Pretax Income $28.90M $34.00M
YoY Change 129.73%
Income Tax $6.400M $6.400M
% Of Pretax Income 22.15% 18.82%
Net Earnings $22.10M $29.10M
YoY Change 138.52%
Net Earnings / Revenue 1.6% 2.12%
Basic Earnings Per Share $0.56 $0.74
Diluted Earnings Per Share $0.56 $0.74
COMMON SHARES
Basic Shares Outstanding 39.00M shares 38.60M shares
Diluted Shares Outstanding 39.10M shares 38.90M shares

Balance Sheet

Concept 2019 Q1 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.90M $36.60M
YoY Change -20.43%
Cash & Equivalents $30.90M $36.60M
Short-Term Investments
Other Short-Term Assets $86.20M $70.40M
YoY Change 19.32%
Inventory
Prepaid Expenses
Receivables $1.283B $1.291B
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.400B $1.398B
YoY Change 10.09%
LONG-TERM ASSETS
Property, Plant & Equipment $155.5M $84.30M
YoY Change 6.71%
Goodwill $127.8M $107.3M
YoY Change 21.38%
Intangibles
YoY Change
Long-Term Investments $121.2M $118.9M
YoY Change 3.48%
Other Assets $315.7M $275.4M
YoY Change -31.1%
Total Long-Term Assets $1.072B $1.039B
YoY Change 20.03%
TOTAL ASSETS
Total Short-Term Assets $1.400B $1.398B
Total Long-Term Assets $1.072B $1.039B
Total Assets $2.472B $2.437B
YoY Change 14.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $517.8M $529.9M
YoY Change 12.29%
Accrued Expenses $316.5M $308.4M
YoY Change 3.21%
Deferred Revenue
YoY Change
Short-Term Debt $74.20M $33.40M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $973.4M $934.2M
YoY Change 13.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $97.10M $83.30M
YoY Change 58.97%
Total Long-Term Liabilities $321.0M $311.1M
YoY Change 19.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $973.4M $934.2M
Total Long-Term Liabilities $321.0M $311.1M
Total Liabilities $1.294B $1.245B
YoY Change 14.73%
SHAREHOLDERS EQUITY
Retained Earnings $1.157B $1.153B
YoY Change 23.61%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.178B $1.191B
YoY Change
Total Liabilities & Shareholders Equity $2.472B $2.437B
YoY Change 14.12%

Cashflow Statement

Concept 2019 Q1 2018 Q2
OPERATING ACTIVITIES
Net Income $22.10M $29.10M
YoY Change 138.52%
Depreciation, Depletion And Amortization $7.600M $6.300M
YoY Change 18.87%
Cash From Operating Activities $21.20M -$4.100M
YoY Change -116.67%
INVESTING ACTIVITIES
Capital Expenditures -$4.200M -$4.600M
YoY Change 64.29%
Acquisitions $86.40M $0.00
YoY Change
Other Investing Activities -$300.0K $300.0K
YoY Change
Cash From Investing Activities -$90.30M -$4.900M
YoY Change 75.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $66.70M 14.10M
YoY Change -502.86%
NET CHANGE
Cash From Operating Activities $21.20M -4.100M
Cash From Investing Activities -$90.30M -4.900M
Cash From Financing Activities $66.70M 14.10M
Net Change In Cash -$4.300M $4.200M
YoY Change -74.23%
FREE CASH FLOW
Cash From Operating Activities $21.20M -$4.100M
Capital Expenditures -$4.200M -$4.600M
Free Cash Flow $25.40M $500.0K
YoY Change -98.18%

Facts In Submission

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CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3000000 USD
CY2018Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6200000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2300000 USD
CY2018Q2 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
86400000 USD
CY2018Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
4600000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
16800000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
7000000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
71800000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
315700000 USD
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
4200000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
71900000 USD
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
21200000 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
50600000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
6900000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
69500000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.059
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y29D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
81700000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
26700000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
86200000 USD
CY2018Q2 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
23200000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
72000000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
294700000 USD
CY2019Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
368200000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
86300000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4700000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
9800000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
15200000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
20400000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
4900000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
265200000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
14000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Translation Gain Loss Arising During Period Tax
OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax
0 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1159500000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1177800000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
226200000 USD
CY2018Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
100000 USD
CY2019Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
200000 USD
CY2018Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4400000 USD
CY2019Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4700000 USD
CY2019Q1 us-gaap Restructuring Charges
RestructuringCharges
6300000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 USD
CY2019Q1 us-gaap Restructuring Reserve
RestructuringReserve
6100000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1138100000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1157200000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2500000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3200000 USD
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2200000 USD

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