2015 Q4 Form 10-Q Financial Statement

#000143612616000037 Filed on January 08, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4
Revenue $194.8M $206.9M
YoY Change -5.85% 31.98%
Cost Of Revenue $132.7M $142.9M
YoY Change -7.15% 36.79%
Gross Profit $56.93M $59.04M
YoY Change -3.58% 23.06%
Gross Profit Margin 29.22% 28.54%
Selling, General & Admin $34.01M $37.18M
YoY Change -8.53% 24.56%
% of Gross Profit 59.74% 62.98%
Research & Development $601.0K $629.0K
YoY Change -4.45% -19.97%
% of Gross Profit 1.06% 1.07%
Depreciation & Amortization $7.963M $8.386M
YoY Change -5.04% 23.6%
% of Gross Profit 13.99% 14.2%
Operating Expenses $34.61M $37.81M
YoY Change -8.46% 23.42%
Operating Profit $19.57M $18.19M
YoY Change 7.57% 19.28%
Interest Expense -$1.300M -$1.400M
YoY Change -7.14% 75.0%
% of Operating Profit -6.64% -7.7%
Other Income/Expense, Net
YoY Change
Pretax Income $18.23M $16.84M
YoY Change 8.28% 16.3%
Income Tax $6.804M $6.428M
% Of Pretax Income 37.31% 38.17%
Net Earnings $11.43M $10.43M
YoY Change 9.57% 12.64%
Net Earnings / Revenue 5.87% 5.04%
Basic Earnings Per Share
Diluted Earnings Per Share $385.1K $353.7K
COMMON SHARES
Basic Shares Outstanding 28.87M shares 28.62M shares
Diluted Shares Outstanding 29.59M shares 29.40M shares

Balance Sheet

Concept 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.60M $19.60M
YoY Change -45.92% 20.99%
Cash & Equivalents $9.599M $19.60M
Short-Term Investments
Other Short-Term Assets $17.00M $19.30M
YoY Change -11.92% 42.96%
Inventory $9.676M $12.19M
Prepaid Expenses
Receivables $149.2M $164.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $186.4M $216.0M
YoY Change -13.69% 30.84%
LONG-TERM ASSETS
Property, Plant & Equipment $76.43M $82.27M
YoY Change -7.1% 16.69%
Goodwill $167.6M $169.1M
YoY Change -0.85% 42.48%
Intangibles $46.76M $61.54M
YoY Change -24.02% 24.88%
Long-Term Investments
YoY Change
Other Assets $1.975M $1.887M
YoY Change 4.66% 43.5%
Total Long-Term Assets $293.6M $316.1M
YoY Change -7.1% 26.03%
TOTAL ASSETS
Total Short-Term Assets $186.4M $216.0M
Total Long-Term Assets $293.6M $316.1M
Total Assets $480.1M $532.1M
YoY Change -9.77% 27.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.169M $15.56M
YoY Change -41.07% 38.01%
Accrued Expenses $52.40M $47.80M
YoY Change 9.62% 11.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $13.77M $17.99M
YoY Change -23.44% 127.73%
Total Short-Term Liabilities $90.81M $97.24M
YoY Change -6.61% 31.23%
LONG-TERM LIABILITIES
Long-Term Debt $87.95M $137.1M
YoY Change -35.84% 93.62%
Other Long-Term Liabilities $8.477M $14.70M
YoY Change -42.33% -17.24%
Total Long-Term Liabilities $96.42M $151.8M
YoY Change -36.47% 71.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.81M $97.24M
Total Long-Term Liabilities $96.42M $151.8M
Total Liabilities $215.7M $282.4M
YoY Change -23.6% 51.79%
SHAREHOLDERS EQUITY
Retained Earnings $75.87M $53.59M
YoY Change 41.57% 58.18%
Common Stock $289.0K $286.0K
YoY Change 1.05% 1.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $264.2M $249.4M
YoY Change
Total Liabilities & Shareholders Equity $480.1M $532.1M
YoY Change -9.77% 27.94%

Cashflow Statement

Concept 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $11.43M $10.43M
YoY Change 9.57% 12.64%
Depreciation, Depletion And Amortization $7.963M $8.386M
YoY Change -5.04% 23.6%
Cash From Operating Activities $10.31M -$11.37M
YoY Change -190.68% -378.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.660M -$4.140M
YoY Change -11.59% -28.62%
Acquisitions
YoY Change
Other Investing Activities -$1.560M $4.410M
YoY Change -135.37% -137.03%
Cash From Investing Activities -$5.220M $290.0K
YoY Change -1900.0% -101.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.080M 16.97M
YoY Change -135.83% -26.85%
NET CHANGE
Cash From Operating Activities 10.31M -11.37M
Cash From Investing Activities -5.220M 290.0K
Cash From Financing Activities -6.080M 16.97M
Net Change In Cash -990.0K 5.890M
YoY Change -116.81% -38.45%
FREE CASH FLOW
Cash From Operating Activities $10.31M -$11.37M
Capital Expenditures -$3.660M -$4.140M
Free Cash Flow $13.97M -$7.230M
YoY Change -293.22% -173.1%

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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1581000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-601000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1496000 USD
us-gaap Increase Decrease In Other Operating Assets
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478000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
9000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2952000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
790000 USD
CY2015Q2 us-gaap Intangible Assets Net Excluding Goodwill
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51276000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
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46759000 USD
us-gaap Interest Paid
InterestPaid
1815000 USD
us-gaap Interest Paid
InterestPaid
3010000 USD
CY2015Q2 us-gaap Inventory Net
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10841000 USD
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9676000 USD
CY2015Q2 us-gaap Liabilities
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226715000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
215720000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
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471727000 USD
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90810000 USD
CY2015Q2 us-gaap Long Term Debt
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113459000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-1036000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9934000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
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8477000 USD
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10427000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-968000 USD
us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q4 us-gaap Net Income Loss
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
259000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1384000 USD
us-gaap Net Income Loss
NetIncomeLoss
18297000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
951000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
32661000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3153000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26524000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1709000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7862000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7753000 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
101718000 USD
CY2015Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
17902000 USD
CY2015Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
13772000 USD
CY2015Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
95557000 USD
CY2015Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2015Q2 us-gaap Minority Interest
MinorityInterest
193000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
110000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
47462000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16644000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40360000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9623000 USD
CY2014Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-15000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-10000 USD
CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-20000 USD
us-gaap Notes Issued1
NotesIssued1
20500000 USD
us-gaap Notes Issued1
NotesIssued1
0 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
18192000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
21856000 USD
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
19569000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
32501000 USD
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18847000 USD
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16994000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2107000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1975000 USD
CY2014Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6011000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7916000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-384000 USD
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11698000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12181000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
872000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1968000 USD
us-gaap Proceeds From Lines Of Credit
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86500000 USD
us-gaap Proceeds From Lines Of Credit
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39200000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
63300000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
596000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
319000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
187000 USD
CY2014Q4 us-gaap Profit Loss
ProfitLoss
10412000 USD
us-gaap Profit Loss
ProfitLoss
12083000 USD
CY2015Q4 us-gaap Profit Loss
ProfitLoss
11430000 USD
us-gaap Profit Loss
ProfitLoss
18277000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
190264000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
194426000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79256000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
76429000 USD
CY2015Q2 us-gaap Receivables Net Current
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133228000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
149173000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
23200000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
36800000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
4183000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3681000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10726000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15870000 USD
CY2014Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
629000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1278000 USD
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
601000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1222000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
57581000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
75872000 USD
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
206893000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
373466000 USD
CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
194786000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
374639000 USD
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37180000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
72400000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
34008000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
69844000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4257000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3227000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
244819000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
264234000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
245012000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
264344000 USD
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29397000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29551000 shares
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29594000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29641000 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28619000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28547000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28869000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28796000 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;"><br clear="none"/></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's financial condition or results of operations as previously reported.</font></div></div>

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