2019 Q3 Form 10-Q Financial Statement

#000005751519000035 Filed on November 04, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $337.1M $316.7M
YoY Change 6.44% 5.93%
Cost Of Revenue $244.9M $235.5M
YoY Change 4.03% 5.38%
Gross Profit $92.11M $81.20M
YoY Change 13.43% 7.58%
Gross Profit Margin 27.33% 25.64%
Selling, General & Admin $39.46M $32.08M
YoY Change 22.99% 2.49%
% of Gross Profit 42.84% 39.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.750M $6.944M
YoY Change 26.01% 8.23%
% of Gross Profit 9.5% 8.55%
Operating Expenses $39.46M $32.08M
YoY Change 22.99% 2.49%
Operating Profit $51.70M $49.12M
YoY Change 5.26% 11.19%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $1.427M $1.314M
YoY Change 8.6% 158.66%
Pretax Income $53.13M $50.43M
YoY Change 5.35% 12.87%
Income Tax $12.39M $11.41M
% Of Pretax Income 23.31% 22.62%
Net Earnings $40.75M $39.03M
YoY Change 4.4% 32.81%
Net Earnings / Revenue 12.09% 12.33%
Basic Earnings Per Share
Diluted Earnings Per Share $1.48 $1.42
COMMON SHARES
Basic Shares Outstanding 27.44M shares 27.42M shares
Diluted Shares Outstanding 27.52M shares 27.51M shares

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $173.5M $217.9M
YoY Change -20.38% 38.61%
Cash & Equivalents $173.5M $217.9M
Short-Term Investments
Other Short-Term Assets $9.211M $6.315M
YoY Change 45.86% 10.71%
Inventory $94.43M $102.8M
Prepaid Expenses
Receivables $91.60M $83.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $368.7M $410.5M
YoY Change -10.19% 23.97%
LONG-TERM ASSETS
Property, Plant & Equipment $280.9M $195.8M
YoY Change 43.46% 6.52%
Goodwill $208.4M $168.0M
YoY Change 24.01% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.87M $10.70M
YoY Change 1.62% 51.79%
Total Long-Term Assets $593.7M $429.7M
YoY Change 38.16% 2.78%
TOTAL ASSETS
Total Short-Term Assets $368.7M $410.5M
Total Long-Term Assets $593.7M $429.7M
Total Assets $962.3M $840.2M
YoY Change 14.54% 12.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $84.50M $67.48M
YoY Change 25.21% 41.19%
Accrued Expenses $52.08M $40.02M
YoY Change 30.13% -16.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K
YoY Change
Total Short-Term Liabilities $136.6M $107.5M
YoY Change 27.04% 12.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.400M $0.00
YoY Change
Other Long-Term Liabilities $32.81M $41.30M
YoY Change -20.56% 3.71%
Total Long-Term Liabilities $32.81M $41.30M
YoY Change -20.56% 3.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $136.6M $107.5M
Total Long-Term Liabilities $32.81M $41.30M
Total Liabilities $169.4M $148.8M
YoY Change 13.83% 9.87%
SHAREHOLDERS EQUITY
Retained Earnings $1.383B $1.302B
YoY Change 6.21% 6.63%
Common Stock $124.2M $120.0M
YoY Change 3.48% 3.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $746.9M $739.6M
YoY Change 0.98% 0.25%
Treasury Stock Shares
Shareholders Equity $749.7M $674.0M
YoY Change
Total Liabilities & Shareholders Equity $962.3M $840.2M
YoY Change 14.54% 12.15%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $40.75M $39.03M
YoY Change 4.4% 32.81%
Depreciation, Depletion And Amortization $8.750M $6.944M
YoY Change 26.01% 8.23%
Cash From Operating Activities $40.10M $40.86M
YoY Change -1.87% 5.0%
INVESTING ACTIVITIES
Capital Expenditures $43.19M $9.740M
YoY Change 343.42% 14.67%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $156.0K $71.00K
YoY Change 119.72% -987.5%
Cash From Investing Activities -$43.35M -$9.811M
YoY Change 341.8% 11.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.465M $1.593M
YoY Change -8.04% 87.63%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$19.58M -$18.87M
YoY Change 3.77% 17.65%
NET CHANGE
Cash From Operating Activities $40.10M $40.86M
Cash From Investing Activities -$43.35M -$9.811M
Cash From Financing Activities -$19.58M -$18.87M
Net Change In Cash -$22.83M $12.18M
YoY Change -287.37% -13.44%
FREE CASH FLOW
Cash From Operating Activities $40.10M $40.86M
Capital Expenditures $43.19M $9.740M
Free Cash Flow -$3.094M $31.12M
YoY Change -109.94% 2.3%

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9740000 USD
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156000 USD
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1465000 USD
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1593000 USD
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125000 USD
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778000 USD
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CashAndCashEquivalentsAtCarryingValue
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1465000 USD
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125000 USD
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1436000 USD
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-44000 USD
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16495000 USD
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1593000 USD
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778000 USD
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1531000 USD
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674019000 USD
CY2019Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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67000 USD
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82000 USD
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40678000 USD
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38946000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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27442000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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27424000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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3000 shares
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5000 shares
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
72000 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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85000 shares
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27517000 shares
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27514000 shares
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1.48
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1.42
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10308000 USD
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8259000 USD
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-91000 USD
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-57000 USD
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-21000 USD
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-13000 USD
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-70000 USD
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-44000 USD
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AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
10238000 USD
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8215000 USD
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33500000 USD
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150000000 USD
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225000000 USD
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2021-04-08
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5100000 USD
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P4Y
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0.031
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0.042
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2136000 USD
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84000 USD
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FinanceLeaseInterestExpense
20000 USD
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FinanceLeaseExpense
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2912000 USD
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19638000 USD
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26426000 USD
CY2019Q3 us-gaap Finance Lease Right Of Use Asset
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1966000 USD
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437000 USD
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1408000 USD
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1845000 USD
CY2019Q3 us-gaap Operating Lease Payments
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2214000 USD
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20000 USD
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FinanceLeasePrincipalPayments
106000 USD
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1050000 USD
CY2019Q3 lanc Lease Liability Removed Due To Purchase Of Leased Asset
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5765000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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5825000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
379000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5884000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
505000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5070000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
505000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3874000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
493000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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3423000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
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121000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4570000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
28646000 USD
CY2019Q3 us-gaap Finance Lease Liability Payments Due
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2003000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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2220000 USD
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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158000 USD
CY2019Q3 us-gaap Operating Lease Liability
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26426000 USD
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1845000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P5Y2M12D
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2019Q3 lanc Lessee Operating Leases Not Yet Commenced Commitments
LesseeOperatingLeasesNotYetCommencedCommitments
1600000 USD
CY2019Q3 us-gaap Lessee Operating Lease Lease Not Yet Commenced Term Of Contract1
LesseeOperatingLeaseLeaseNotYetCommencedTermOfContract1
P5Y
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
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8261000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due Current
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505000 USD
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7136000 USD
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505000 USD
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6345000 USD
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505000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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4992000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
493000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4619000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
121000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
6901000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
38254000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
2129000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
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178000 USD
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
1951000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
69003000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
70277000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
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1274000 USD
CY2018Q3 us-gaap Amortization Of Intangible Assets
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965000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4976000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4902000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4343000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4343000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
4083000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
337054000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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316654000 USD
CY2019Q3 us-gaap Operating Income Loss
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51704000 USD
CY2018Q3 us-gaap Operating Income Loss
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49120000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
337054000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
316654000 USD

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