2017 Q3 Form 10-Q Financial Statement

#000116219417000091 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q2
Revenue $24.75M $23.91M $28.17M
YoY Change 11.52% -15.11% -1.57%
Cost Of Revenue $1.150M $1.169M $1.248M
YoY Change -6.35% -6.33% 54.26%
Gross Profit $23.60M $22.74M $26.92M
YoY Change 12.56% -15.52% -3.2%
Gross Profit Margin 95.35% 95.11% 95.57%
Selling, General & Admin $20.10M $20.98M $23.85M
YoY Change -4.83% -12.04% 12.36%
% of Gross Profit 85.19% 92.23% 88.58%
Research & Development $7.683M $7.461M $9.978M
YoY Change -16.96% -25.23% -1.11%
% of Gross Profit 32.56% 32.81% 37.07%
Depreciation & Amortization $4.290M $4.940M $4.480M
YoY Change -5.09% 10.27% 5.66%
% of Gross Profit 18.18% 21.72% 16.64%
Operating Expenses $27.79M $28.44M $33.82M
YoY Change -8.53% -15.93% 8.02%
Operating Profit -$15.60M -$16.49M -$18.14M
YoY Change -15.59% -9.12% 23.76%
Interest Expense $1.456M $1.456M $1.453M
YoY Change 0.14% 0.21% 0.14%
% of Operating Profit
Other Income/Expense, Net $379.0K $183.0K -$44.00K
YoY Change -335.4% -515.91% -107.24%
Pretax Income -$16.68M -$17.76M -$19.64M
YoY Change -17.01% -9.57% 26.69%
Income Tax -$700.0K -$800.0K -$1.000M
% Of Pretax Income
Net Earnings -$15.94M -$16.93M -$18.62M
YoY Change -19.43% -9.05% 22.19%
Net Earnings / Revenue -64.43% -70.81% -66.09%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.46 -$0.58 -$0.64
COMMON SHARES
Basic Shares Outstanding 29.41M shares 29.30M shares 28.90M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.40M $42.00M $86.40M
YoY Change -12.36% -51.39% -13.51%
Cash & Equivalents $60.94M $39.60M $35.90M
Short-Term Investments $1.400M $2.400M $50.50M
Other Short-Term Assets $2.300M $4.700M $3.600M
YoY Change -28.13% 30.56% 24.14%
Inventory $17.75M $18.77M $18.18M
Prepaid Expenses
Receivables $13.73M $13.66M $18.89M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $96.17M $79.13M $127.0M
YoY Change -11.03% -37.72% -11.39%
LONG-TERM ASSETS
Property, Plant & Equipment $13.34M $13.97M $16.82M
YoY Change -22.94% -16.95% 19.25%
Goodwill $104.1M $104.1M $104.1M
YoY Change 0.0% 0.0% 0.0%
Intangibles $71.40M $74.20M $85.45M
YoY Change -13.6% -13.16% -11.55%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $6.987M $7.310M $8.621M
YoY Change -15.6% -15.21% 125.68%
Total Long-Term Assets $195.8M $199.6M $215.0M
YoY Change -7.77% -7.17% -12.52%
TOTAL ASSETS
Total Short-Term Assets $96.17M $79.13M $127.0M
Total Long-Term Assets $195.8M $199.6M $215.0M
Total Assets $292.0M $278.7M $342.0M
YoY Change -8.87% -18.51% -12.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.721M $3.858M $5.830M
YoY Change -3.08% -33.83% -2.25%
Accrued Expenses $8.332M $13.50M $14.12M
YoY Change -19.48% -4.42% 36.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.88M $34.32M $32.32M
YoY Change 14.22% 6.22% 11.7%
LONG-TERM LIABILITIES
Long-Term Debt $195.2M $195.1M $194.8M
YoY Change 0.15% 0.15% -0.41%
Other Long-Term Liabilities $5.371M $4.613M $3.795M
YoY Change 34.61% 21.55% 80.8%
Total Long-Term Liabilities $5.371M $4.613M $3.795M
YoY Change 34.61% 21.55% 80.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.88M $34.32M $32.32M
Total Long-Term Liabilities $5.371M $4.613M $3.795M
Total Liabilities $252.9M $254.8M $257.8M
YoY Change 0.19% -1.16% 0.73%
SHAREHOLDERS EQUITY
Retained Earnings -$489.7M -$473.8M -$402.0M
YoY Change 16.11% 17.86% 17.77%
Common Stock $39.00K $29.00K $29.00K
YoY Change 34.48% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $39.07M $23.94M $84.26M
YoY Change
Total Liabilities & Shareholders Equity $292.0M $278.7M $342.0M
YoY Change -8.87% -18.51% -12.1%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$15.94M -$16.93M -$18.62M
YoY Change -19.43% -9.05% 22.19%
Depreciation, Depletion And Amortization $4.290M $4.940M $4.480M
YoY Change -5.09% 10.27% 5.66%
Cash From Operating Activities -$7.980M -$8.290M -$7.360M
YoY Change -39.82% 12.64% -6.0%
INVESTING ACTIVITIES
Capital Expenditures $560.0K $140.0K $1.520M
YoY Change -67.25% -90.79% 8.57%
Acquisitions
YoY Change
Other Investing Activities $1.010M $3.730M $1.810M
YoY Change -91.24% 106.08% -133.21%
Cash From Investing Activities $450.0K $3.590M $300.0K
YoY Change -95.42% 1096.67% -104.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 28.87M -50.00K 120.0K
YoY Change -141.67% -91.43%
NET CHANGE
Cash From Operating Activities -7.980M -8.290M -7.360M
Cash From Investing Activities 450.0K 3.590M 300.0K
Cash From Financing Activities 28.87M -50.00K 120.0K
Net Change In Cash 21.34M -4.750M -6.940M
YoY Change -720.35% -31.56% -47.74%
FREE CASH FLOW
Cash From Operating Activities -$7.980M -$8.290M -$7.360M
Capital Expenditures $560.0K $140.0K $1.520M
Free Cash Flow -$8.540M -$8.430M -$8.880M
YoY Change -42.95% -5.07% -3.79%

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us-gaap Amortization Of Intangible Assets
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5600000 USD
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417000 USD
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us-gaap Increase Decrease In Inventories
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-1122000 USD
us-gaap Increase Decrease In Inventories
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860000 USD
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2169000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
171000 USD
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-1388000 USD
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133000 USD
us-gaap Increase Decrease In Accounts Payable
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248000 USD
us-gaap Increase Decrease In Accounts Payable
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-980000 USD
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-416000 USD
us-gaap Increase Decrease In Deferred Revenue
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416000 USD
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4879000 USD
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2824000 USD
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-2663000 USD
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-598000 USD
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-16778000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Investments
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34559000 USD
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23375000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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56387000 USD
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
0 USD
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
2330000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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834000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2662000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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21089000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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21496000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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46000 USD
us-gaap Proceeds From Stock Options Exercised
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134000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-46000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
134000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
287000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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297000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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4552000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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6781000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35045000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29117000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39597000 USD
CY2016Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35898000 USD
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8126000 shares
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8433000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8126000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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8433000 shares
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0.001
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123274000 USD
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42924000 USD
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80350000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
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FiniteLivedIntangibleAssetsAccumulatedAmortization
36733000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
86491000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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6200000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12333000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12242000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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12242000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
12087000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
25246000 USD
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80350000 USD
CY2017Q2 us-gaap Inventory Raw Materials Net Of Reserves
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CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
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8919000 USD
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InventoryWorkInProcessNetOfReserves
1590000 USD
CY2016Q4 us-gaap Inventory Work In Process Net Of Reserves
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1742000 USD
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8754000 USD
CY2016Q4 us-gaap Inventory Finished Goods Net Of Reserves
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9453000 USD
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18765000 USD
CY2016Q4 us-gaap Inventory Net
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20114000 USD
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41271000 USD
CY2016Q4 fldm Property Plantand Equipment Gross Less Constructionin Progress
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39998000 USD
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27420000 USD
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24084000 USD
CY2017Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
115000 USD
CY2016Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
611000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13966000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16525000 USD
CY2017Q1 us-gaap Product Warranty Accrual
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864000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1056000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1023000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1076000 USD
CY2017Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
19000 USD
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
163000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
187000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
288000 USD
CY2017Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-177000 USD
CY2016Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-173000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-504000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-318000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
706000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1046000 USD
CY2017Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
706000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1046000 USD
CY2017Q2 us-gaap Available For Sale Securities Amortized Cost
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42031000 USD
CY2017Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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1000 USD
CY2017Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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1000 USD
CY2017Q2 us-gaap Investments Fair Value Disclosure
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42031000 USD
CY2017Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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39597000 USD
CY2017Q2 us-gaap Short Term Investments
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2434000 USD
CY2016Q4 us-gaap Available For Sale Securities Amortized Cost
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59433000 USD
CY2016Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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1000 USD
CY2016Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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4000 USD
CY2016Q4 us-gaap Investments Fair Value Disclosure
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59430000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
35045000 USD
CY2016Q4 us-gaap Short Term Investments
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24385000 USD
CY2017Q2 us-gaap Lease And Rental Expense
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1000000.0 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2600000 USD
CY2016Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1800000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3300000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2374000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable Current
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532000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4507000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
740000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4532000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
523000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2307000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
181000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1233000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
0 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
2701000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
0 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
17654000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
1976000 USD
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2300000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4800000 USD
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3700000 USD
us-gaap Allocated Share Based Compensation Expense
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7400000 USD
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.34
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-800000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2600000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1000000.0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1800000 USD
CY2017Q2 us-gaap Revenues
Revenues
23912000 USD
CY2016Q2 us-gaap Revenues
Revenues
28168000 USD
us-gaap Revenues
Revenues
49445000 USD
us-gaap Revenues
Revenues
57171000 USD

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