2016 Q1 Form 10-Q Financial Statement

#000143612616000049 Filed on April 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $167.5M $163.1M
YoY Change 2.67% 7.5%
Cost Of Revenue $112.4M $119.4M
YoY Change -5.86% 10.62%
Gross Profit $43.97M $38.73M
YoY Change 13.52% -1.44%
Gross Profit Margin 26.26% 23.75%
Selling, General & Admin $35.05M $32.76M
YoY Change 7.01% 3.03%
% of Gross Profit 79.72% 84.57%
Research & Development $662.0K $644.0K
YoY Change 2.8% -14.93%
% of Gross Profit 1.51% 1.66%
Depreciation & Amortization $8.017M $8.114M
YoY Change -1.2% 11.15%
% of Gross Profit 18.23% 20.95%
Operating Expenses $35.72M $33.40M
YoY Change 6.92% 2.61%
Operating Profit $5.646M $3.870M
YoY Change 45.89% 29.0%
Interest Expense -$1.100M -$1.200M
YoY Change -8.33% 50.0%
% of Operating Profit -19.48% -31.01%
Other Income/Expense, Net
YoY Change
Pretax Income $4.546M $2.709M
YoY Change 67.81% 22.69%
Income Tax $1.088M $941.0K
% Of Pretax Income 23.93% 34.74%
Net Earnings $3.447M $1.817M
YoY Change 89.71% 51.29%
Net Earnings / Revenue 2.06% 1.11%
Basic Earnings Per Share
Diluted Earnings Per Share $120.4K $61.02K
COMMON SHARES
Basic Shares Outstanding 28.92M shares 28.66M shares
Diluted Shares Outstanding 29.98M shares 29.53M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.10M $13.40M
YoY Change 35.07% 34.0%
Cash & Equivalents $15.63M $13.39M
Short-Term Investments
Other Short-Term Assets $18.00M $20.20M
YoY Change -10.89% 14.77%
Inventory $9.880M $12.29M
Prepaid Expenses
Receivables $128.6M $125.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $174.6M $171.4M
YoY Change 1.84% 3.0%
LONG-TERM ASSETS
Property, Plant & Equipment $75.67M $80.13M
YoY Change -5.57% 7.69%
Goodwill $166.7M $166.5M
YoY Change 0.11% 25.85%
Intangibles $44.33M $56.15M
YoY Change -21.04% 7.6%
Long-Term Investments
YoY Change
Other Assets $1.857M $1.890M
YoY Change -1.75% 39.79%
Total Long-Term Assets $289.4M $305.9M
YoY Change -5.4% 17.53%
TOTAL ASSETS
Total Short-Term Assets $174.6M $171.4M
Total Long-Term Assets $289.4M $305.9M
Total Assets $464.0M $477.3M
YoY Change -2.8% 11.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.24M $8.950M
YoY Change 14.41% -19.21%
Accrued Expenses $47.40M $40.80M
YoY Change 16.18% -3.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.49M $16.91M
YoY Change -26.13% 124.16%
Total Short-Term Liabilities $84.90M $80.83M
YoY Change 5.04% 7.11%
LONG-TERM LIABILITIES
Long-Term Debt $74.88M $109.3M
YoY Change -31.51% 47.97%
Other Long-Term Liabilities $7.482M $11.69M
YoY Change -35.97% -38.98%
Total Long-Term Liabilities $82.36M $121.0M
YoY Change -31.94% 30.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $84.90M $80.83M
Total Long-Term Liabilities $82.36M $121.0M
Total Liabilities $197.1M $235.2M
YoY Change -16.23% 20.39%
SHAREHOLDERS EQUITY
Retained Earnings $79.46M $55.41M
YoY Change 43.41% 57.95%
Common Stock $290.0K $286.0K
YoY Change 1.4% 0.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $266.8M $241.9M
YoY Change
Total Liabilities & Shareholders Equity $464.0M $477.3M
YoY Change -2.8% 11.86%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $3.447M $1.817M
YoY Change 89.71% 51.29%
Depreciation, Depletion And Amortization $8.017M $8.114M
YoY Change -1.2% 11.15%
Cash From Operating Activities $29.11M $31.17M
YoY Change -6.6% 347.84%
INVESTING ACTIVITIES
Capital Expenditures $3.735M -$4.040M
YoY Change -192.45% 10.08%
Acquisitions $0.00
YoY Change
Other Investing Activities $740.0K -$2.030M
YoY Change -136.45% -68.13%
Cash From Investing Activities -$4.109M -$6.070M
YoY Change -32.31% -39.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net $1.105M
YoY Change
Cash From Financing Activities -$18.89M -31.95M
YoY Change -40.88% 1599.47%
NET CHANGE
Cash From Operating Activities $29.11M 31.17M
Cash From Investing Activities -$4.109M -6.070M
Cash From Financing Activities -$18.89M -31.95M
Net Change In Cash $6.116M -6.850M
YoY Change -189.28% 38.66%
FREE CASH FLOW
Cash From Operating Activities $29.11M $31.17M
Capital Expenditures $3.735M -$4.040M
Free Cash Flow $25.38M $35.21M
YoY Change -27.92% 231.23%

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CY2016Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.12
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12001000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
12388000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
7875000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-8037000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-66000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
5577000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1378000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2149000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1682000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
735000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1235000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
571000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-102000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4522000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2128000 USD
CY2015Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
51276000 USD
CY2016Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
44331000 USD
us-gaap Interest Paid
InterestPaid
2456000 USD
us-gaap Interest Paid
InterestPaid
4148000 USD
CY2015Q2 us-gaap Inventory Net
InventoryNet
10841000 USD
CY2016Q1 us-gaap Inventory Net
InventoryNet
9880000 USD
CY2015Q2 us-gaap Liabilities
Liabilities
226715000 USD
CY2016Q1 us-gaap Liabilities
Liabilities
197065000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
471727000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
463957000 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
93523000 USD
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
84902000 USD
CY2015Q2 us-gaap Long Term Debt
LongTermDebt
113459000 USD
CY2016Q1 us-gaap Long Term Debt
LongTermDebt
87366000 USD
CY2015Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
17902000 USD
CY2016Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
12488000 USD
CY2015Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
95557000 USD
CY2016Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
74878000 USD
CY2015Q2 us-gaap Minority Interest
MinorityInterest
193000 USD
CY2016Q1 us-gaap Minority Interest
MinorityInterest
116000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17067000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-34338000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46137000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12968000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
34516000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55802000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
1817000 USD
us-gaap Net Income Loss
NetIncomeLoss
13910000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
3593000 USD
us-gaap Net Income Loss
NetIncomeLoss
21890000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-49000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-59000 USD
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-12000 USD
us-gaap Notes Issued1
NotesIssued1
20488000 USD
us-gaap Notes Issued1
NotesIssued1
0 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
us-gaap Operating Income Loss
OperatingIncomeLoss
25726000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5758000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
38259000 USD
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18847000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3870000 USD
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14167000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2107000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
62100000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
34671000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1709000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11757000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11421000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
56100000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6005000 USD
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1857000 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
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2842000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3878000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9934000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
7482000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-520000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-85000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1462000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1068000 USD
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11698000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13263000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1145000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2293000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
99200000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
45100000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
37100000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
872000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1056000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
682000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
361000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
1768000 USD
us-gaap Profit Loss
ProfitLoss
13851000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
3601000 USD
us-gaap Profit Loss
ProfitLoss
21878000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
190264000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
195285000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79256000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
75665000 USD
CY2015Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
133228000 USD
CY2016Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
128605000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
11741000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
16991000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
644000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1922000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
266776000 USD
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
677000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1899000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
57581000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
79464000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
163100000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
536566000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
160355000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
534994000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
32758000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
105158000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
33747000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
103591000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4856000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4997000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
244819000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
245012000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
266892000 USD
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
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29899000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29760000 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
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28906000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28832000 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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