2015 Q2 Form 10-Q Financial Statement

#000092935115000044 Filed on August 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $408.9M $449.4M
YoY Change -9.01% -21.12%
Cost Of Revenue $230.3M $238.9M
YoY Change -3.6% -22.03%
Gross Profit $178.6M $210.5M
YoY Change -15.15% -20.05%
Gross Profit Margin 43.68% 46.84%
Selling, General & Admin $132.6M $161.4M
YoY Change -17.84% -29.27%
% of Gross Profit 74.24% 76.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.830M $1.346M
YoY Change 35.96% -17.17%
% of Gross Profit 1.02% 0.64%
Operating Expenses $134.5M $162.7M
YoY Change -17.33% -29.23%
Operating Profit $44.20M $47.76M
YoY Change -7.46% 42.89%
Interest Expense $12.63M $12.97M
YoY Change -2.67% -37.68%
% of Operating Profit 28.56% 27.16%
Other Income/Expense, Net
YoY Change
Pretax Income $43.53M $54.02M
YoY Change -19.42% 149.85%
Income Tax $2.844M $10.76M
% Of Pretax Income 6.53% 19.92%
Net Earnings $40.70M $43.26M
YoY Change -5.92% 217.7%
Net Earnings / Revenue 9.95% 9.63%
Basic Earnings Per Share $0.28 $0.31
Diluted Earnings Per Share $0.26 $0.30
COMMON SHARES
Basic Shares Outstanding 147.6M shares 138.5M shares
Diluted Shares Outstanding 157.5M shares 152.2M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $196.6M $50.40M
YoY Change 290.08% -1.18%
Cash & Equivalents $196.6M $50.37M
Short-Term Investments
Other Short-Term Assets $2.500M $7.500M
YoY Change -66.67% -16.67%
Inventory $1.540B $1.381B
Prepaid Expenses
Receivables $761.2M $717.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.500B $2.156B
YoY Change 15.96% 3.22%
LONG-TERM ASSETS
Property, Plant & Equipment $28.35M $15.09M
YoY Change 87.87% 62.88%
Goodwill $323.3M $323.3M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $246.4M $189.0M
YoY Change 30.37% 19.5%
Other Assets $117.9M $126.1M
YoY Change -6.5% 1.86%
Total Long-Term Assets $969.7M $656.0M
YoY Change 47.81% 5.76%
TOTAL ASSETS
Total Short-Term Assets $2.500B $2.156B
Total Long-Term Assets $969.7M $656.0M
Total Assets $3.470B $2.812B
YoY Change 23.39% 3.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $220.3M $223.4M
YoY Change -1.39% -19.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $220.3M $223.4M
YoY Change -1.39% -19.5%
LONG-TERM LIABILITIES
Long-Term Debt $1.453B $1.255B
YoY Change 15.78% -6.87%
Other Long-Term Liabilities $840.2M $797.8M
YoY Change 5.31% 13.32%
Total Long-Term Liabilities $2.293B $2.053B
YoY Change 11.72% 0.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $220.3M $223.4M
Total Long-Term Liabilities $2.293B $2.053B
Total Liabilities $2.514B $2.276B
YoY Change 10.44% -2.28%
SHAREHOLDERS EQUITY
Retained Earnings $44.03M -$114.6M
YoY Change -138.41% -61.32%
Common Stock $868.5M $651.1M
YoY Change 33.39% -4.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $956.0M $535.8M
YoY Change
Total Liabilities & Shareholders Equity $3.470B $2.812B
YoY Change 23.39% 3.8%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $40.70M $43.26M
YoY Change -5.92% 217.7%
Depreciation, Depletion And Amortization $1.830M $1.346M
YoY Change 35.96% -17.17%
Cash From Operating Activities -$30.88M -$12.63M
YoY Change 144.44% -56.86%
INVESTING ACTIVITIES
Capital Expenditures $3.248M $1.427M
YoY Change 127.61% -0.07%
Acquisitions
YoY Change
Other Investing Activities -$800.0K $4.900M
YoY Change -116.33% -47.87%
Cash From Investing Activities -$4.048M $3.498M
YoY Change -215.72% -56.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $109.5M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $130.1M $33.79M
YoY Change 284.93% 253.6%
NET CHANGE
Cash From Operating Activities -$30.88M -$12.63M
Cash From Investing Activities -$4.048M $3.498M
Cash From Financing Activities $130.1M $33.79M
Net Change In Cash $95.15M $24.66M
YoY Change 285.89% -310.02%
FREE CASH FLOW
Cash From Operating Activities -$30.88M -$12.63M
Capital Expenditures $3.248M $1.427M
Free Cash Flow -$34.13M -$14.06M
YoY Change 142.74% -54.22%

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2514000 USD
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CY2015Q2 us-gaap Increase Decrease In Restricted Cash For Operating Activities
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0 USD
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CY2015Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
3130000 shares
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
424000 shares
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676000 USD
CY2014Q2 us-gaap Investment Income Interest And Dividend
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1018000 USD
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600000 USD
CY2015Q1 us-gaap Investments
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CY2015Q2 us-gaap Investments
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CY2015Q1 us-gaap Liabilities
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3469787000 USD
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0 USD
CY2015Q2 us-gaap Line Of Credit
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0 USD
CY2015Q1 us-gaap Loans Payable To Bank
LoansPayableToBank
375000000 USD
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LoansPayableToBank
400000000 USD
CY2015Q1 us-gaap Long Term Debt
LongTermDebt
714126000 USD
CY2015Q2 us-gaap Long Term Debt
LongTermDebt
723463000 USD
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LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
400000000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
285000000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
41850000 USD
CY2015Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2015Q2 us-gaap Maximum Remaining Maturity Of Foreign Currency Derivatives1
MaximumRemainingMaturityOfForeignCurrencyDerivatives1
P17M
CY2014Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
33794000 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
130084000 USD
CY2014Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3498000 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4048000 USD
CY2014Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12634000 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-30883000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
40684000 USD
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
44904000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
41360000 USD
CY2015Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
47764000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
44165000 USD
CY2015Q1 us-gaap Other Assets
OtherAssets
74784000 USD
CY2015Q2 us-gaap Other Assets
OtherAssets
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CY2014Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2015Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
42234000 USD
CY2014Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
-811000 USD
CY2015Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
7000 USD
CY2014Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1482000 USD
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3490000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
6311000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3490000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
7000 USD
CY2014Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
109529000 USD
CY2015Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2014Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
7066000 USD
CY2015Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10187000 USD
CY2014Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10247000 USD
CY2015Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
16082000 USD
CY2014Q2 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
9650000 USD
CY2015Q2 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
800000 USD
CY2014Q2 us-gaap Payments To Acquire Property Plant And Equipment
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1427000 USD
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3248000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets
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0 USD
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ProceedsFromDebtNetOfIssuanceCosts
24384000 USD
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170000000 USD
CY2015Q2 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
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ProceedsFromSaleOfEquityMethodInvestments
14575000 USD
CY2015Q2 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
CY2014Q2 us-gaap Proceeds From Stock Options Exercised
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406000 USD
CY2015Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3118000 USD
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26651000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
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28354000 USD
CY2014Q2 us-gaap Repayments Of Long Term Lines Of Credit
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183619000 USD
CY2015Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
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RestrictedCashAndCashEquivalents
2508000 USD
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RestrictedCashAndCashEquivalents
2508000 USD
CY2014Q2 us-gaap Restructuring Charges
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4888000 USD
CY2015Q2 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
13720000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
44028000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
449383000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
408941000 USD
CY2015Q1 us-gaap Secured Debt
SecuredDebt
225000000 USD
CY2015Q2 us-gaap Secured Debt
SecuredDebt
225000000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
16537000 USD
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
16591000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
1194000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
0 USD
CY2015Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
16162000 USD
CY2015Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
188000 USD
CY2015Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
18109000 USD
CY2015Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3197000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
842287000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
956027000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152210000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
157498000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
138509000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
147619000 shares
CY2015Q2 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates made by management in the preparation of the financial statements relate to ultimate revenue and costs for investment in films and television programs; estimates of sales returns and other allowances and provisions for doubtful accounts; fair value of equity-based compensation; fair value of assets and liabilities for allocation of the purchase price of companies acquired; income taxes and accruals for contingent liabilities; and impairment assessments for investment in films and television programs, property and equipment, equity investments, goodwill and intangible assets. Actual results could differ from such estimates.</font></div></div>

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