$MD
Pediatrix Medical Group, Inc.

2012 Q2 Form 10-Q Financial Statement

#000119312512325900 Filed on July 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $449.5M $393.4M
YoY Change 14.26% 12.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $324.2M $278.0M
YoY Change 16.62% 12.14%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.687M $6.032M
YoY Change 27.44% 20.64%
% of Gross Profit
Operating Expenses $349.8M $300.3M
YoY Change 16.49% 12.46%
Operating Profit $99.74M $93.12M
YoY Change 7.1%
Interest Expense $848.0K $988.0K
YoY Change -14.17% -209.78%
% of Operating Profit 0.85% 1.06%
Other Income/Expense, Net
YoY Change
Pretax Income $99.25M $92.46M
YoY Change 7.34% 13.87%
Income Tax $38.71M $36.52M
% Of Pretax Income 39.0% 39.5%
Net Earnings $60.54M $55.94M
YoY Change 8.23% 13.24%
Net Earnings / Revenue 13.47% 14.22%
Basic Earnings Per Share $0.62 $1.18
Diluted Earnings Per Share $0.61 $1.15
COMMON SHARES
Basic Shares Outstanding 97.09M shares 47.53M shares
Diluted Shares Outstanding 99.09M shares 48.73M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.50M $34.90M
YoY Change -55.59% -5.93%
Cash & Equivalents $12.15M $23.96M
Short-Term Investments $3.300M $11.00M
Other Short-Term Assets $6.801M $76.30M
YoY Change -91.09% -7.85%
Inventory
Prepaid Expenses $7.775M
Receivables $240.9M $194.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $340.2M $305.3M
YoY Change 11.44% 2.18%
LONG-TERM ASSETS
Property, Plant & Equipment $59.87M $60.10M
YoY Change -0.38% 35.06%
Goodwill $1.808B
YoY Change
Intangibles
YoY Change
Long-Term Investments $49.10M $25.70M
YoY Change 91.05% 7.08%
Other Assets $90.12M $66.80M
YoY Change 34.9% 22.57%
Total Long-Term Assets $2.007B $1.767B
YoY Change 13.54% 20.98%
TOTAL ASSETS
Total Short-Term Assets $340.2M $305.3M
Total Long-Term Assets $2.007B $1.767B
Total Assets $2.347B $2.073B
YoY Change 13.23% 17.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.10M $10.80M
YoY Change 12.07% 44.0%
Accrued Expenses $168.3M $148.3M
YoY Change 13.49% -44.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $200.0K
YoY Change -50.0% 0.0%
Total Short-Term Liabilities $197.2M $174.8M
YoY Change 12.82% -38.75%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K $66.40M
YoY Change -99.55% 14.29%
Other Long-Term Liabilities $58.46M $157.7M
YoY Change -62.93% 206.21%
Total Long-Term Liabilities $58.46M $224.1M
YoY Change -73.91% 104.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $197.2M $174.8M
Total Long-Term Liabilities $58.46M $224.1M
Total Liabilities $476.9M $482.5M
YoY Change -1.17% 5.03%
SHAREHOLDERS EQUITY
Retained Earnings $1.115B
YoY Change
Common Stock $497.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.870B $1.590B
YoY Change
Total Liabilities & Shareholders Equity $2.347B $2.073B
YoY Change 13.23% 17.79%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $60.54M $55.94M
YoY Change 8.23% 13.24%
Depreciation, Depletion And Amortization $7.687M $6.032M
YoY Change 27.44% 20.64%
Cash From Operating Activities $117.1M $95.30M
YoY Change 22.88% 3.93%
INVESTING ACTIVITIES
Capital Expenditures -$3.900M -$3.100M
YoY Change 25.81% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$41.70M $9.400M
YoY Change -543.62% -146.53%
Cash From Investing Activities -$45.60M $6.300M
YoY Change -823.81% -126.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -81.80M -92.60M
YoY Change -11.66% 40.09%
NET CHANGE
Cash From Operating Activities 117.1M 95.30M
Cash From Investing Activities -45.60M 6.300M
Cash From Financing Activities -81.80M -92.60M
Net Change In Cash -10.30M 9.000M
YoY Change -214.44% 309.09%
FREE CASH FLOW
Cash From Operating Activities $117.1M $95.30M
Capital Expenditures -$3.900M -$3.100M
Free Cash Flow $121.0M $98.40M
YoY Change 22.97% 3.8%

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us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
86000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
10324000
us-gaap Net Income Loss
NetIncomeLoss
108894000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
56400000
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
48408000 shares
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
95069000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49474000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16480000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
3300000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.20
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
740000
us-gaap Operating Expenses
OperatingExpenses
693022000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
69621000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
446451 shares
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-57733000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
3706000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34000 shares
us-gaap Labor And Related Expense
LaborAndRelatedExpense
548212000
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
2.23
us-gaap Interest Expense
InterestExpense
1402000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-3312000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
13803000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
85033000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
6821000
md Non Employee Directors Compensation With Restricted Shares Combination
NonEmployeeDirectorsCompensationWithRestrictedSharesCombination
14625 shares
md Assumed Payment Probability Of Contingent Consideration Payment
AssumedPaymentProbabilityOfContingentConsiderationPayment
1.00 pure
md Number Of Physician Group Practices
NumberOfPhysicianGroupPractices
7 Company
md Payments Of Contingent Consideration Liabilities
PaymentsOfContingentConsiderationLiabilities
4903000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
34941000
md Time Period For Achievement Of Certain Performance Measures For Payment Of Contingent Consideration
TimePeriodForAchievementOfCertainPerformanceMeasuresForPaymentOfContingentConsideration
5 Year
CY2011Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6032000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47531000 shares
CY2011Q2 us-gaap Investment Income Net
InvestmentIncomeNet
329000
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
92464000
CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1199000 shares
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
93123000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.18
CY2011Q2 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
393402000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
55941000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.15
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
42702000
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48730000 shares
CY2011Q2 us-gaap Operating Expenses
OperatingExpenses
300279000
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36523000
CY2011Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13100000
CY2011Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
63000 shares
CY2011Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
235292000
CY2011Q2 us-gaap Interest Expense
InterestExpense
988000
CY2011Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
16253000
CY2012Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7687000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48543000 shares
CY2012Q2 us-gaap Investment Income Net
InvestmentIncomeNet
365000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
99253000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
48200000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49545000 shares
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
349794000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38709000
CY2012Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1002000 shares
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
99736000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
CY2012Q2 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
449530000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
60544000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6100000
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
40000 shares
CY2012Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
275951000
CY2012Q2 us-gaap Interest Expense
InterestExpense
848000
CY2012Q2 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
17956000

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