2015 Q2 Form 10-Q Financial Statement

#000143612615000010 Filed on April 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $174.7M $163.1M $151.7M
YoY Change -2.48% 7.5% 13.52%
Cost Of Revenue $129.7M $119.4M $107.9M
YoY Change -2.26% 10.62% 8.49%
Gross Profit $44.97M $38.73M $39.30M
YoY Change -3.07% -1.44% 14.89%
Gross Profit Margin 25.74% 23.75% 25.9%
Selling, General & Admin $38.80M $32.76M $31.79M
YoY Change 16.52% 3.03% 16.85%
% of Gross Profit 86.29% 84.57% 80.9%
Research & Development $600.0K $644.0K $757.0K
YoY Change -25.0% -14.93% 0.4%
% of Gross Profit 1.33% 1.66% 1.93%
Depreciation & Amortization $8.510M $8.114M $7.300M
YoY Change 12.27% 11.15% 1.5%
% of Gross Profit 18.93% 20.95% 18.58%
Operating Expenses $42.50M $33.40M $32.55M
YoY Change 14.56% 2.61% 16.41%
Operating Profit $4.627M $3.870M $3.000M
YoY Change -55.8% 29.0% -39.78%
Interest Expense -$1.200M -$1.200M -$800.0K
YoY Change 33.33% 50.0% -11.11%
% of Operating Profit -25.93% -31.01% -26.67%
Other Income/Expense, Net
YoY Change
Pretax Income $3.400M $2.709M $2.208M
YoY Change -64.58% 22.69% -46.15%
Income Tax $1.300M $941.0K $984.0K
% Of Pretax Income 38.24% 34.74% 44.57%
Net Earnings $2.171M $1.817M $1.201M
YoY Change -66.18% 51.29% -56.34%
Net Earnings / Revenue 1.24% 1.11% 0.79%
Basic Earnings Per Share
Diluted Earnings Per Share $74.07K $61.02K $40.82K
COMMON SHARES
Basic Shares Outstanding 28.70M shares 28.66M shares 28.40M shares
Diluted Shares Outstanding 29.53M shares 29.37M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.60M $13.40M $10.00M
YoY Change 6.0% 34.0% 12.36%
Cash & Equivalents $10.56M $13.39M $9.950M
Short-Term Investments
Other Short-Term Assets $16.80M $20.20M $17.60M
YoY Change 5.66% 14.77% 19.73%
Inventory $10.84M $12.29M $12.50M
Prepaid Expenses
Receivables $133.2M $125.5M $126.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $171.5M $171.4M $166.4M
YoY Change -2.09% 3.0% 15.29%
LONG-TERM ASSETS
Property, Plant & Equipment $79.26M $80.13M $74.40M
YoY Change 1.86% 7.69% 6.52%
Goodwill $166.4M $166.5M $132.3M
YoY Change 27.5% 25.85% 5.41%
Intangibles $51.28M $56.15M $52.18M
YoY Change -11.4% 7.6% -7.53%
Long-Term Investments
YoY Change
Other Assets $2.107M $1.890M $1.352M
YoY Change 62.45% 39.79% 82.95%
Total Long-Term Assets $300.3M $305.9M $260.3M
YoY Change 11.69% 17.53% 3.06%
TOTAL ASSETS
Total Short-Term Assets $171.5M $171.4M $166.4M
Total Long-Term Assets $300.3M $305.9M $260.3M
Total Assets $471.7M $477.3M $426.7M
YoY Change 6.25% 11.86% 7.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.53M $8.950M $11.08M
YoY Change -29.7% -19.21% 33.5%
Accrued Expenses $48.50M $40.80M $42.10M
YoY Change 2.75% -3.09% 19.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $17.90M $16.91M $7.542M
YoY Change 122.16% 124.16% -2.43%
Total Short-Term Liabilities $93.52M $80.83M $75.46M
YoY Change 7.76% 7.11% 10.73%
LONG-TERM LIABILITIES
Long-Term Debt $95.56M $109.3M $73.88M
YoY Change 39.32% 47.97% 13.3%
Other Long-Term Liabilities $9.934M $11.69M $19.15M
YoY Change -41.61% -38.98% -10.7%
Total Long-Term Liabilities $105.5M $121.0M $93.04M
YoY Change 23.23% 30.07% 7.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.52M $80.83M $75.46M
Total Long-Term Liabilities $105.5M $121.0M $93.04M
Total Liabilities $226.7M $235.2M $195.4M
YoY Change 12.47% 20.39% 7.81%
SHAREHOLDERS EQUITY
Retained Earnings $57.58M $55.41M $35.08M
YoY Change 38.75% 57.95% 49.08%
Common Stock $287.0K $286.0K $284.0K
YoY Change 1.06% 0.7% 0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $244.8M $241.9M $231.0M
YoY Change
Total Liabilities & Shareholders Equity $471.7M $477.3M $426.7M
YoY Change 6.25% 11.86% 7.51%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $2.171M $1.817M $1.201M
YoY Change -66.18% 51.29% -56.34%
Depreciation, Depletion And Amortization $8.510M $8.114M $7.300M
YoY Change 12.27% 11.15% 1.5%
Cash From Operating Activities $15.52M $31.17M $6.960M
YoY Change 8.68% 347.84% 4540.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.630M -$4.040M -$3.670M
YoY Change -33.39% 10.08% -10.49%
Acquisitions
YoY Change
Other Investing Activities $420.0K -$2.030M -$6.370M
YoY Change -118.34% -68.13% 6.7%
Cash From Investing Activities -$3.220M -$6.070M -$10.02M
YoY Change -58.45% -39.42% -0.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.44M -31.95M -1.880M
YoY Change 68.21% 1599.47% -118.02%
NET CHANGE
Cash From Operating Activities 15.52M 31.17M 6.960M
Cash From Investing Activities -3.220M -6.070M -10.02M
Cash From Financing Activities -13.44M -31.95M -1.880M
Net Change In Cash -1.140M -6.850M -4.940M
YoY Change -21.92% 38.66% -1108.16%
FREE CASH FLOW
Cash From Operating Activities $15.52M $31.17M $6.960M
Capital Expenditures -$3.630M -$4.040M -$3.670M
Free Cash Flow $19.15M $35.21M $10.63M
YoY Change -2.94% 231.23% 150.12%

Facts In Submission

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IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2015Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
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12388000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
2419000 USD
us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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-633000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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us-gaap Increase Decrease In Inventories
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21000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
735000 USD
us-gaap Increase Decrease In Other Operating Assets
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92000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
571000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6273000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4522000 USD
CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
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CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
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us-gaap Interest Paid
InterestPaid
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us-gaap Interest Paid
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CY2014Q2 us-gaap Inventory Net
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CY2015Q1 us-gaap Inventory Net
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CY2014Q2 us-gaap Liabilities
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201580000 USD
CY2015Q1 us-gaap Liabilities
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235241000 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
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CY2015Q1 us-gaap Liabilities And Stockholders Equity
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CY2015Q1 us-gaap Liabilities Current
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CY2014Q2 us-gaap Long Term Debt
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CY2015Q1 us-gaap Long Term Debt
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CY2014Q2 us-gaap Long Term Debt Current
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CY2015Q1 us-gaap Long Term Debt Current
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16906000 USD
CY2014Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2015Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
109322000 USD
CY2014Q2 us-gaap Minority Interest
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288000 USD
CY2015Q1 us-gaap Minority Interest
MinorityInterest
224000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
2148000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
3365000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
11251000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
15511000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-30261000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-46433000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
22589000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
34317000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
1201000 USD
us-gaap Net Income Loss
NetIncomeLoss
16099000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
1817000 USD
us-gaap Net Income Loss
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13910000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
23000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
44000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-49000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Notes Issued1
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0 USD
us-gaap Notes Issued1
NotesIssued1
20488000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 Operating_Segment
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
27827000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
25726000 USD
CY2014Q2 us-gaap Other Accrued Liabilities Current
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17316000 USD
CY2015Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2014Q2 us-gaap Other Assets Noncurrent
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CY2015Q1 us-gaap Other Assets Noncurrent
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CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
879000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-10694000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-18610000 USD
CY2014Q2 us-gaap Other Liabilities Noncurrent
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CY2015Q1 us-gaap Other Liabilities Noncurrent
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us-gaap Other Noncash Income Expense
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-106000 USD
us-gaap Other Noncash Income Expense
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us-gaap Other Payments To Acquire Businesses
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us-gaap Other Payments To Acquire Businesses
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1004000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1462000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
19057000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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34967000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11661000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2015Q1 us-gaap Preferred Stock Shares Authorized
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CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
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CY2014Q2 us-gaap Prepaid Expense And Other Assets Current
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CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
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16309000 USD
us-gaap Proceeds From Repayments Of Debt
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26063000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
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CY2014Q1 us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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CY2015Q1 us-gaap Profit Loss
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us-gaap Profit Loss
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CY2014Q2 us-gaap Property Plant And Equipment Gross
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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922000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
872000 USD
us-gaap Proceeds From Stock Options Exercised
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712000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
682000 USD
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
185351000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
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77811000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80125000 USD
CY2014Q2 us-gaap Receivables Net Current
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137824000 USD
CY2015Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
125548000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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5965000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6005000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7938000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
757000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2186000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
644000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1922000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
41500000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
55410000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
151727000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
444320000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
163100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
536566000 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31794000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
90342000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
32758000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
105158000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4013000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4856000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
242392000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
242088000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29249000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29529000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29559000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28396000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28338000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28656000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28583000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassification</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in prior periods have been reclassified to conform to the current year presentation. Such reclassifications did not have a material effect on the Company&#8217;s financial condition or results of operations as previously reported.</font></div></div>

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