2015 Q4 Form 10-Q Financial Statement

#000158067015000124 Filed on November 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $176.8M $174.0M $92.52M
YoY Change 63.07% 88.03% 143.19%
Cost Of Revenue $129.9M $127.9M $67.26M
YoY Change 64.85% 90.24% 148.33%
Gross Profit $46.89M $46.01M $25.26M
YoY Change 58.41% 82.13% 153.82%
Gross Profit Margin 26.53% 26.45% 27.3%
Selling, General & Admin $23.20M $22.96M $15.35M
YoY Change 28.18% 49.53% 100.94%
% of Gross Profit 49.48% 49.9% 60.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $200.0K $100.0K
YoY Change 0.0% 100.0% 0.0%
% of Gross Profit 0.64% 0.43% 0.4%
Operating Expenses $23.20M $22.96M $15.35M
YoY Change 28.18% 49.53% 100.94%
Operating Profit $23.69M $23.05M $9.906M
YoY Change 105.98% 132.67% 87.12%
Interest Expense $0.00 $0.00
YoY Change -100.0%
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $400.0K $200.0K $600.0K
YoY Change -66.67%
Pretax Income $24.09M $23.22M $10.53M
YoY Change 108.16% 120.44% 99.24%
Income Tax $8.400M $7.801M $3.488M
% Of Pretax Income 34.87% 33.59% 33.11%
Net Earnings $15.73M $15.42M $0.00
YoY Change -100.0%
Net Earnings / Revenue 8.9% 8.86% 0.0%
Basic Earnings Per Share $0.79 $0.77 $0.34
Diluted Earnings Per Share $0.75 $0.76 $0.34
COMMON SHARES
Basic Shares Outstanding 20.01M shares 19.92M shares 20.76M shares
Diluted Shares Outstanding 20.32M shares 20.88M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.60M $36.50M $46.20M
YoY Change 19.75% -21.0% 391.49%
Cash & Equivalents $37.57M $36.47M $46.16M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $531.2M $460.5M $292.0M
Prepaid Expenses
Receivables $17.30M $15.80M $9.700M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $586.1M $512.8M $347.9M
YoY Change 44.11% 47.4% 343.18%
LONG-TERM ASSETS
Property, Plant & Equipment $2.108M $2.052M $1.373M
YoY Change 30.93% 49.45% 96.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.000M $7.900M $13.20M
YoY Change -44.44% -40.15% 116.39%
Total Long-Term Assets $32.60M $34.17M $31.80M
YoY Change 3.74% 7.43% 137.34%
TOTAL ASSETS
Total Short-Term Assets $586.1M $512.8M $347.9M
Total Long-Term Assets $32.60M $34.17M $31.80M
Total Assets $618.7M $547.0M $379.7M
YoY Change 41.22% 44.05% 313.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.00M $28.90M $15.40M
YoY Change 54.84% 87.66% 140.63%
Accrued Expenses $30.70M $24.50M $5.700M
YoY Change 98.06% 329.82% 21.28%
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 $60.90M $65.70M $22.30M
YoY Change 87.96% 194.62% -42.82%
LONG-TERM LIABILITIES
Long-Term Debt $304.6M $247.8M $160.2M
YoY Change 40.95% 54.68%
Other Long-Term Liabilities $3.100M $7.800M $10.90M
YoY Change -29.55% -28.44%
Total Long-Term Liabilities $307.7M $255.6M $171.1M
YoY Change 39.55% 49.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.90M $65.70M $22.30M
Total Long-Term Liabilities $307.7M $255.6M $171.1M
Total Liabilities $371.3M $322.7M $193.4M
YoY Change 45.26% 66.89% 256.8%
SHAREHOLDERS EQUITY
Retained Earnings $88.15M $72.42M $27.79M
YoY Change 149.57% 160.63%
Common Stock $213.0K $210.0K $208.0K
YoY Change 2.4% 0.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.55M $16.55M
YoY Change 0.0%
Treasury Stock Shares 1.000M shares 1.000M shares
Shareholders Equity $247.4M $224.2M $186.3M
YoY Change
Total Liabilities & Shareholders Equity $618.7M $547.0M $379.7M
YoY Change 41.22% 44.05% 313.17%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $15.73M $15.42M $0.00
YoY Change -100.0%
Depreciation, Depletion And Amortization $300.0K $200.0K $100.0K
YoY Change 0.0% 100.0% 0.0%
Cash From Operating Activities -$64.80M -$22.60M -$62.10M
YoY Change 48.62% -63.61% 469.72%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$500.0K -$300.0K
YoY Change -50.0% 66.67% 50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$200.0K -$500.0K -$300.0K
YoY Change -98.72% 66.67% 200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 66.20M 9.700M 65.70M
YoY Change 49.1% -85.24% 1163.46%
NET CHANGE
Cash From Operating Activities -64.80M -22.60M -62.10M
Cash From Investing Activities -200.0K -500.0K -300.0K
Cash From Financing Activities 66.20M 9.700M 65.70M
Net Change In Cash 1.200M -13.40M 3.300M
YoY Change -108.11% -506.06% -156.9%
FREE CASH FLOW
Cash From Operating Activities -$64.80M -$22.60M -$62.10M
Capital Expenditures -$200.0K -$500.0K -$300.0K
Free Cash Flow -$64.60M -$22.10M -$61.80M
YoY Change 49.54% -64.24% 477.57%

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LettersOfCreditOutstandingAmount
3400000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
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Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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NetIncomeLoss
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630000 USD
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LiabilitiesAndStockholdersEquity
546966000 USD
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200000000 USD
CY2015Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
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225000000 USD
CY2014 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-04-28
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2018-05-26
CY2015Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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300000000 USD
CY2015Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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51600000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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122505000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30339000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-828000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
15420000 USD
us-gaap Net Income Loss
NetIncomeLoss
37099000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7046000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
20677000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
15420000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
37289000 USD
CY2014Q4 us-gaap Notes Payable
NotesPayable
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CY2015Q3 us-gaap Notes Payable
NotesPayable
247809000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
5
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
9906000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
30842000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
23048000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
55960000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
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CY2015Q3 us-gaap Other Assets
OtherAssets
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CY2014Q4 us-gaap Other Liabilities
OtherLiabilities
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CY2015Q3 us-gaap Other Liabilities
OtherLiabilities
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CY2014Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
628000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
663000 USD
CY2015Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
173000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
228000 USD
us-gaap Payments For Proceeds From Productive Assets
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828000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
892000 USD
us-gaap Payments Of Debt Issuance Costs
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2148000 USD
us-gaap Payments Of Debt Issuance Costs
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1839000 USD
us-gaap Proceeds From Issuance Of Common Stock
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2768000 USD
us-gaap Proceeds From Notes Payable
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127528000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
185382000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-848000 USD
CY2014Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
825000 USD
CY2014Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
875000 USD
CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
900000 USD
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1000000 USD
CY2015Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1100000 USD
CY2014Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
279000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
440000 USD
CY2015Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
556000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1497000 USD
CY2014Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
329000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
685000 USD
CY2015Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
656000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1697000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1610000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2052000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2875000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
154786000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
35321000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
72420000 USD
CY2014Q4 us-gaap Retention Payable
RetentionPayable
2696000 USD
CY2015Q3 us-gaap Retention Payable
RetentionPayable
2339000 USD
CY2014Q3 us-gaap Revenues
Revenues
92516000 USD
us-gaap Revenues
Revenues
274848000 USD
CY2015Q3 us-gaap Revenues
Revenues
173956000 USD
us-gaap Revenues
Revenues
453472000 USD
CY2014Q3 us-gaap Selling Expense
SellingExpense
9239000 USD
us-gaap Selling Expense
SellingExpense
25788000 USD
CY2015Q3 us-gaap Selling Expense
SellingExpense
14057000 USD
us-gaap Selling Expense
SellingExpense
39032000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
627000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1644000 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
100000 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2768000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-25000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
182499000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
224223000 USD
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1000000 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
16550000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20881827 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20871757 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20318537 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21665289 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20763449 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20763449 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19923079 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19894859 shares

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