$MD
Pediatrix Medical Group, Inc.

2012 Q3 Form 10-Q Financial Statement

#000119312512446668 Filed on November 01, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $473.1M $407.7M
YoY Change 16.04% 16.12%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $340.2M $289.7M
YoY Change 17.43% 16.16%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.925M $6.213M
YoY Change 27.56% -1.38%
% of Gross Profit
Operating Expenses $365.8M $312.6M
YoY Change 17.0% 15.92%
Operating Profit $107.4M $95.04M
YoY Change 12.98%
Interest Expense $624.0K $1.056M
YoY Change -40.91%
% of Operating Profit 0.58% 1.11%
Other Income/Expense, Net
YoY Change
Pretax Income $107.2M $94.32M
YoY Change 13.63% 16.01%
Income Tax $41.26M $36.08M
% Of Pretax Income 38.5% 38.25%
Net Earnings $65.91M $58.24M
YoY Change 13.17% -4.99%
Net Earnings / Revenue 13.93% 14.29%
Basic Earnings Per Share $0.67 $1.21
Diluted Earnings Per Share $0.66 $1.19
COMMON SHARES
Basic Shares Outstanding 97.88M shares 47.99M shares
Diluted Shares Outstanding 99.62M shares 48.94M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.90M $43.00M
YoY Change 67.21% -43.12%
Cash & Equivalents $66.12M $35.75M
Short-Term Investments $5.800M $7.200M
Other Short-Term Assets $6.898M $84.00M
YoY Change -91.79% 0.36%
Inventory
Prepaid Expenses $5.149M
Receivables $250.5M $207.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $402.8M $334.0M
YoY Change 20.6% 0.0%
LONG-TERM ASSETS
Property, Plant & Equipment $59.21M $61.60M
YoY Change -3.88% 40.0%
Goodwill $1.940B
YoY Change
Intangibles
YoY Change
Long-Term Investments $40.50M $35.00M
YoY Change 15.71% 18.64%
Other Assets $90.67M $65.80M
YoY Change 37.8% 24.15%
Total Long-Term Assets $2.130B $1.846B
YoY Change 15.41% 25.82%
TOTAL ASSETS
Total Short-Term Assets $402.8M $334.0M
Total Long-Term Assets $2.130B $1.846B
Total Assets $2.533B $2.180B
YoY Change 16.2% 21.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.970M $9.800M
YoY Change 1.73% 19.51%
Accrued Expenses $214.9M $190.2M
YoY Change 12.99% -34.64%
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 $244.9M $215.1M
YoY Change 13.85% -30.88%
LONG-TERM LIABILITIES
Long-Term Debt $48.30M $50.40M
YoY Change -4.17% 50300.0%
Other Long-Term Liabilities $55.86M $163.3M
YoY Change -65.79% 225.95%
Total Long-Term Liabilities $55.86M $213.7M
YoY Change -73.86% 325.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $244.9M $215.1M
Total Long-Term Liabilities $55.86M $213.7M
Total Liabilities $583.9M $517.6M
YoY Change 12.8% 21.02%
SHAREHOLDERS EQUITY
Retained Earnings $1.181B
YoY Change
Common Stock $498.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.949B $1.662B
YoY Change
Total Liabilities & Shareholders Equity $2.533B $2.180B
YoY Change 16.2% 21.03%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $65.91M $58.24M
YoY Change 13.17% -4.99%
Depreciation, Depletion And Amortization $7.925M $6.213M
YoY Change 27.56% -1.38%
Cash From Operating Activities $134.7M $100.1M
YoY Change 34.57% -5.03%
INVESTING ACTIVITIES
Capital Expenditures -$3.100M -$5.200M
YoY Change -40.38% 79.31%
Acquisitions
YoY Change
Other Investing Activities -$131.3M -$74.00M
YoY Change 77.43% 413.89%
Cash From Investing Activities -$134.4M -$79.20M
YoY Change 69.7% 363.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 53.70M -9.100M
YoY Change -690.11% -82.83%
NET CHANGE
Cash From Operating Activities 134.7M 100.1M
Cash From Investing Activities -134.4M -79.20M
Cash From Financing Activities 53.70M -9.100M
Net Change In Cash 54.00M 11.80M
YoY Change 357.63% -66.57%
FREE CASH FLOW
Cash From Operating Activities $134.7M $100.1M
Capital Expenditures -$3.100M -$5.200M
Free Cash Flow $137.8M $105.3M
YoY Change 30.86% -2.77%

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ProceedsFromSaleMaturityAndCollectionsOfInvestments
23963000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
121000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
16731000
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
48569000 shares
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
143269000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49570000 shares
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
4000000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.53
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
16000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
37238000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1789000
us-gaap Operating Expenses
OperatingExpenses
1058783000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35000 shares
us-gaap Labor And Related Expense
LaborAndRelatedExpense
840242000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
110882000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
450059 shares
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-14699000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20400000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
4435000
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
3.72
us-gaap Interest Expense
InterestExpense
2026000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-158000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18827000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
219735000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
9947000
md Non Employee Directors Compensation With Restricted Shares Combination
NonEmployeeDirectorsCompensationWithRestrictedSharesCombination
14625 shares
md Assumed Payment Probability Of Contingent Consideration Payment
AssumedPaymentProbabilityOfContingentConsiderationPayment
1.00
md Number Of Physician Group Practices
NumberOfPhysicianGroupPractices
10 Company
md Payments Of Contingent Consideration Liabilities
PaymentsOfContingentConsiderationLiabilities
4903000
md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
52547000
md Time Period For Achievement Of Certain Performance Measures For Payment Of Contingent Consideration
TimePeriodForAchievementOfCertainPerformanceMeasuresForPaymentOfContingentConsideration
5 Y
CY2011Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6213000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47990000 shares
CY2011Q3 us-gaap Investment Income Net
InvestmentIncomeNet
337000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
94318000
CY2011Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
945000 shares
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
95037000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.21
CY2011Q3 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
407665000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
58241000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.19
CY2011Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
43010000
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48935000 shares
CY2011Q3 us-gaap Operating Expenses
OperatingExpenses
312628000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
36077000
CY2011Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6800000
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
42000 shares
CY2011Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
246687000
CY2011Q3 us-gaap Interest Expense
InterestExpense
1056000
CY2011Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
16718000
CY2012Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7925000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48938000 shares
CY2012Q3 us-gaap Investment Income Net
InvestmentIncomeNet
422000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
107171000
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
871000 shares
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
107373000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.35
CY2012Q3 us-gaap Health Care Organization Patient Service Revenue
HealthCareOrganizationPatientServiceRevenue
473134000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
65910000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
48200000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49809000 shares
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
365761000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41261000
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7300000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38000 shares
CY2012Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
292030000
CY2012Q3 us-gaap Interest Expense
InterestExpense
624000
CY2012Q3 md Practice Supplies And Other Operating Expenses
PracticeSuppliesAndOtherOperatingExpenses
17606000

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