2017 Q2 Form 10-Q Financial Statement

#000150433717000027 Filed on August 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2017 Q1 2016 Q2
Revenue $694.1M $610.9M $582.4M
YoY Change 19.18% 21.07% 18.13%
Cost Of Revenue $511.8M $482.8M $443.1M
YoY Change 15.5% 16.2% -0.07%
Gross Profit $182.3M $128.1M $139.3M
YoY Change 30.87% 43.77% 180.85%
Gross Profit Margin 26.26% 20.97% 23.92%
Selling, General & Admin $47.20M $48.70M $46.50M
YoY Change 1.51% 15.13% 22.69%
% of Gross Profit 25.89% 38.02% 33.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.60M $30.60M $28.50M
YoY Change 3.86% 9.68% 12.65%
% of Gross Profit 16.24% 23.89% 20.46%
Operating Expenses $47.20M $48.70M $46.50M
YoY Change 1.51% 15.13% 22.69%
Operating Profit $136.2M $75.40M $52.20M
YoY Change 160.92% 298.94% -470.21%
Interest Expense $4.900M $5.000M $9.300M
YoY Change -47.31% -37.5% 29.17%
% of Operating Profit 3.6% 6.63% 17.82%
Other Income/Expense, Net -$5.700M -$4.900M -$5.800M
YoY Change -1.72% -14.04% 0.0%
Pretax Income $130.5M $70.50M $47.90M
YoY Change 172.44% 379.59% -358.92%
Income Tax $36.00M $15.50M $16.20M
% Of Pretax Income 27.59% 21.99% 33.82%
Net Earnings $94.50M $55.00M $31.70M
YoY Change 198.11% 433.98% -262.56%
Net Earnings / Revenue 13.61% 9.0% 5.44%
Basic Earnings Per Share $0.65 $0.38 $0.22
Diluted Earnings Per Share $0.65 $0.38 $0.22
COMMON SHARES
Basic Shares Outstanding 144.5M shares 144.2M shares 143.4M shares
Diluted Shares Outstanding 146.2M shares 145.9M shares 145.2M shares

Balance Sheet

Concept 2017 Q2 2017 Q1 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $740.0M $649.5M $474.8M
YoY Change 55.86% 60.69% -1.29%
Cash & Equivalents $740.0M $649.5M $474.8M
Short-Term Investments
Other Short-Term Assets $18.00M $15.40M $18.30M
YoY Change -1.64% 3.36% -54.59%
Inventory $221.7M $260.0M $231.6M
Prepaid Expenses $9.300M $7.300M $9.300M
Receivables $153.8M $149.1M $151.4M
Other Receivables $35.90M $12.70M $18.20M
Total Short-Term Assets $1.156B $1.074B $876.1M
YoY Change 31.91% 31.68% 0.61%
LONG-TERM ASSETS
Property, Plant & Equipment $866.8M $876.9M $855.4M
YoY Change 1.33% 2.29% 3.8%
Goodwill $9.700M $9.700M $9.700M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $7.200M $6.800M $7.400M
YoY Change -2.7% -5.56% 4.23%
Other Assets $56.10M $23.40M $22.90M
YoY Change 144.98% 2.63% 1.78%
Total Long-Term Assets $1.007B $1.006B $1.398B
YoY Change -27.95% -28.13% 2.37%
TOTAL ASSETS
Total Short-Term Assets $1.156B $1.074B $876.1M
Total Long-Term Assets $1.007B $1.006B $1.398B
Total Assets $2.163B $2.080B $2.274B
YoY Change -4.89% -6.11% 1.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $203.7M $210.5M $173.5M
YoY Change 17.41% 30.02% 16.29%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.500M $1.600M $2.100M
YoY Change -28.57% -23.81% -4.55%
Total Short-Term Liabilities $230.6M $215.5M $176.9M
YoY Change 30.36% 30.37% 15.32%
LONG-TERM LIABILITIES
Long-Term Debt $352.6M $374.6M $745.2M
YoY Change -52.68% -50.17% -1.11%
Other Long-Term Liabilities $181.3M $195.0M $155.0M
YoY Change 16.97% 33.74% 8.62%
Total Long-Term Liabilities $533.9M $569.6M $900.2M
YoY Change -40.69% -36.54% 0.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $230.6M $215.5M $176.9M
Total Long-Term Liabilities $533.9M $569.6M $900.2M
Total Liabilities $764.5M $785.1M $1.077B
YoY Change -29.02% -26.14% 2.61%
SHAREHOLDERS EQUITY
Retained Earnings $1.040B $945.3M $782.5M
YoY Change 32.88% 25.91% 3.19%
Common Stock $628.6M $622.4M $628.3M
YoY Change 0.05% -3.62% -3.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $179.2M $180.4M $191.4M
YoY Change -6.37% -11.96% -10.14%
Treasury Stock Shares
Shareholders Equity $1.348B $1.254B $1.084B
YoY Change
Total Liabilities & Shareholders Equity $2.163B $2.080B $2.274B
YoY Change -4.89% -6.11% 1.68%

Cashflow Statement

Concept 2017 Q2 2017 Q1 2016 Q2
OPERATING ACTIVITIES
Net Income $94.50M $55.00M $31.70M
YoY Change 198.11% 433.98% -262.56%
Depreciation, Depletion And Amortization $29.60M $30.60M $28.50M
YoY Change 3.86% 9.68% 12.65%
Cash From Operating Activities $140.8M $20.80M $109.1M
YoY Change 29.06% -524.49% 162.89%
INVESTING ACTIVITIES
Capital Expenditures $19.60M $26.10M $24.80M
YoY Change -20.97% -0.76% 33.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$200.0K $300.0K
YoY Change -100.0% 100.0%
Cash From Investing Activities -$48.40M -$25.90M -$25.30M
YoY Change 91.3% -1.15% 5.42%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change
Common Stock Issuance & Retirement, Net $800.0K $400.0K -$200.0K
YoY Change -500.0% 300.0% -166.67%
Debt Paid & Issued, Net $100.0K $1.200M $6.800M
YoY Change -98.53% 9.09%
Cash From Financing Activities -$1.000M -$5.500M -$14.20M
YoY Change -92.96% 189.47% 446.15%
NET CHANGE
Cash From Operating Activities $140.8M $20.80M $109.1M
Cash From Investing Activities -$48.40M -$25.90M -$25.30M
Cash From Financing Activities -$1.000M -$5.500M -$14.20M
Net Change In Cash $90.60M -$9.900M $69.60M
YoY Change 30.17% -70.0% 367.11%
FREE CASH FLOW
Cash From Operating Activities $140.8M $20.80M $109.1M
Capital Expenditures $19.60M $26.10M $24.80M
Free Cash Flow $121.2M -$5.300M $84.30M
YoY Change 43.77% -83.01% 268.12%

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128800000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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198200000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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31700000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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42000000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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94500000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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149500000 USD
CY2016Q2 us-gaap Income Loss From Equity Method Investments
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1500000 USD
us-gaap Income Loss From Equity Method Investments
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3000000 USD
CY2017Q2 us-gaap Income Loss From Equity Method Investments
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1700000 USD
CY2016Q2 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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200000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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CY2017Q2 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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400000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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1000000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
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16200000 USD
us-gaap Income Tax Expense Benefit
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20600000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
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36000000 USD
us-gaap Income Tax Expense Benefit
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51500000 USD
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1700000 USD
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2200000 USD
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10300000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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36300000 USD
CY2017Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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14600000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-5300000 USD
CY2016Q2 us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Increase Decrease In Deferred Income Taxes
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CY2017Q2 us-gaap Increase Decrease In Deferred Income Taxes
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24800000 USD
us-gaap Increase Decrease In Deferred Income Taxes
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10900000 USD
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-18900000 USD
us-gaap Increase Decrease In Inventories
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8000000 USD
CY2017Q2 us-gaap Increase Decrease In Inventories
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-37800000 USD
us-gaap Increase Decrease In Inventories
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-13000000 USD
CY2016Q2 us-gaap Increase Decrease In Prepaid Expense
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3700000 USD
us-gaap Increase Decrease In Prepaid Expense
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2600000 USD
CY2017Q2 us-gaap Increase Decrease In Prepaid Expense
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2700000 USD
us-gaap Increase Decrease In Prepaid Expense
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3300000 USD
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3300000 USD
us-gaap Increase Decrease In Receivables
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51100000 USD
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5100000 USD
us-gaap Increase Decrease In Receivables
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44800000 USD
CY2016Q2 us-gaap Increase Decrease In Restricted Cash
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300000 USD
us-gaap Increase Decrease In Restricted Cash
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300000 USD
CY2017Q2 us-gaap Increase Decrease In Restricted Cash
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0 USD
us-gaap Increase Decrease In Restricted Cash
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0 USD
CY2016Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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200000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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300000 shares
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0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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0 shares
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1600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1700000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1700000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1700000 shares
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us-gaap Interest Expense
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17300000 USD
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4900000 USD
us-gaap Interest Expense
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9900000 USD
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134100000 USD
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234600000 USD
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221700000 USD
CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
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23000000 USD
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24500000 USD
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16800000 USD
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18900000 USD
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2100000 USD
us-gaap Investment Income Net
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3900000 USD
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2300000 USD
us-gaap Investment Income Net
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4300000 USD
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6200000 USD
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7200000 USD
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3400000 USD
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3400000 USD
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12700000 USD
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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109100000 USD
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104200000 USD
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us-gaap Operating Income Loss
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3900000 USD
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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100000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
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100000 USD
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us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
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4100000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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10200000 USD
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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4800000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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11000000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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100000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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400000 USD
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us-gaap Other Nonoperating Income Expense
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us-gaap Other Operating Activities Cash Flow Statement
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CY2017Q2 us-gaap Other Operating Income Expense Net
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us-gaap Other Selling General And Administrative Expense
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27300000 USD
us-gaap Other Selling General And Administrative Expense
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55600000 USD
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us-gaap Payments For Deposits With Other Institutions
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CY2017Q2 us-gaap Payments For Deposits With Other Institutions
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us-gaap Payments For Deposits With Other Institutions
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32000000 USD
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300000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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200000 USD
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100000 USD
us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Productive Assets
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CY2017Q2 us-gaap Payments For Proceeds From Productive Assets
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us-gaap Payments For Proceeds From Productive Assets
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CY2016Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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7200000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8100000 USD
CY2017Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
100000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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4800000 USD
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
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24800000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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51100000 USD
CY2017Q2 us-gaap Payments To Acquire Property Plant And Equipment
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19600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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45700000 USD
us-gaap Pension Contributions
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9300000 USD
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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CY2016Q2 us-gaap Product Warranty Accrual
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CY2016Q3 us-gaap Product Warranty Accrual
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CY2017Q1 us-gaap Product Warranty Accrual
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CY2017Q2 us-gaap Product Warranty Accrual
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CY2016Q3 us-gaap Product Warranty Accrual Classified Current
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CY2017Q2 us-gaap Product Warranty Accrual Classified Current
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9000000 USD
CY2016Q2 us-gaap Product Warranty Accrual Noncurrent
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CY2016Q3 us-gaap Product Warranty Accrual Noncurrent
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16600000 USD
CY2017Q2 us-gaap Product Warranty Accrual Noncurrent
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16300000 USD
CY2016Q2 us-gaap Product Warranty Accrual Payments
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us-gaap Product Warranty Accrual Payments
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7200000 USD
CY2017Q2 us-gaap Product Warranty Accrual Payments
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2600000 USD
us-gaap Product Warranty Accrual Payments
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6000000 USD
CY2016Q2 us-gaap Product Warranty Accrual Period Increase Decrease
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10900000 USD
us-gaap Product Warranty Accrual Period Increase Decrease
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10900000 USD
CY2017Q1 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
3400000 USD
CY2017Q2 us-gaap Product Warranty Accrual Period Increase Decrease
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2000000 USD
us-gaap Product Warranty Accrual Period Increase Decrease
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5400000 USD
CY2016Q2 us-gaap Product Warranty Accrual Warranties Issued
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300000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
400000 USD
CY2017Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
200000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
400000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
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CY2017Q2 us-gaap Property Plant And Equipment Gross
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CY2017Q2 us-gaap Property Plant And Equipment Net
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CY2017Q2 us-gaap Receivables Net Current
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CY2016Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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CY2017Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
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3400000 USD
CY2016Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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800000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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1900000 USD
CY2017Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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2100000 USD
CY2016Q2 us-gaap Reclassification From Aoci Current Period Tax
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us-gaap Reclassification From Aoci Current Period Tax
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CY2017Q2 us-gaap Reclassification From Aoci Current Period Tax
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us-gaap Reclassification From Aoci Current Period Tax
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CY2016Q2 us-gaap Repayments Of Long Term Debt
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6800000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7900000 USD
CY2017Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
100000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1300000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
13200000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
13200000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
890300000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1039800000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
582400000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1087000000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
694100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1305000000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
46500000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
88800000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
95600000 USD
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6200000 USD
CY2017Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1900000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6000000 USD
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2700000 shares
CY2016Q2 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-100000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
500000 USD
CY2017Q2 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
1200000 USD
us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
1400000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1195700000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1348400000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
189000000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
179200000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145100000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
146000000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
143100000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144300000 shares

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