2017 Q2 Form 10-Q Financial Statement

#000143612617000049 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $170.4M $178.3M
YoY Change -4.43% 2.09%
Cost Of Revenue $118.8M $121.0M
YoY Change -1.83% -6.67%
Gross Profit $46.34M $51.54M
YoY Change -10.07% 14.61%
Gross Profit Margin 27.19% 28.9%
Selling, General & Admin $37.97M $37.22M
YoY Change 2.03% -4.08%
% of Gross Profit 81.94% 72.22%
Research & Development $552.0K $623.0K
YoY Change -11.4% 3.83%
% of Gross Profit 1.19% 1.21%
Depreciation & Amortization $7.884M $8.626M
YoY Change -8.6% 1.36%
% of Gross Profit 17.01% 16.74%
Operating Expenses $38.53M $37.84M
YoY Change 1.81% -10.96%
Operating Profit $5.003M $4.840M
YoY Change 3.37% 4.6%
Interest Expense -$1.000M -$400.0K
YoY Change 150.0% -66.67%
% of Operating Profit -19.99% -8.26%
Other Income/Expense, Net
YoY Change
Pretax Income $3.988M $4.500M
YoY Change -11.38% 32.35%
Income Tax $1.770M $1.737M
% Of Pretax Income 44.38% 38.6%
Net Earnings $2.217M $2.761M
YoY Change -19.7% 27.18%
Net Earnings / Revenue 1.3% 1.55%
Basic Earnings Per Share
Diluted Earnings Per Share $74.32K $92.41K
COMMON SHARES
Basic Shares Outstanding 28.44M shares 28.93M shares
Diluted Shares Outstanding 29.60M shares 30.15M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.80M $21.20M
YoY Change 26.42% 100.0%
Cash & Equivalents $26.78M $21.19M
Short-Term Investments
Other Short-Term Assets $16.50M $18.90M
YoY Change -12.7% 12.5%
Inventory $10.95M $9.918M
Prepaid Expenses
Receivables $129.2M $137.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $183.5M $187.9M
YoY Change -2.38% 9.61%
LONG-TERM ASSETS
Property, Plant & Equipment $76.22M $78.68M
YoY Change -3.12% -0.73%
Goodwill $176.2M $169.2M
YoY Change 4.14% 1.69%
Intangibles $40.50M $43.49M
YoY Change -6.87% -15.18%
Long-Term Investments
YoY Change
Other Assets $2.710M $2.341M
YoY Change 15.76% 11.11%
Total Long-Term Assets $297.7M $294.7M
YoY Change 1.02% -1.84%
TOTAL ASSETS
Total Short-Term Assets $183.5M $187.9M
Total Long-Term Assets $297.7M $294.7M
Total Assets $481.2M $482.7M
YoY Change -0.3% 2.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.342M $10.80M
YoY Change -13.47% 2.54%
Accrued Expenses $47.70M $58.60M
YoY Change -18.6% 20.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.116M $12.55M
YoY Change -83.14% -29.88%
Total Short-Term Liabilities $78.50M $96.88M
YoY Change -18.97% 3.59%
LONG-TERM LIABILITIES
Long-Term Debt $99.54M $72.46M
YoY Change 37.39% -24.18%
Other Long-Term Liabilities $8.157M $6.794M
YoY Change 20.06% -31.61%
Total Long-Term Liabilities $107.7M $79.25M
YoY Change 35.9% -24.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $78.50M $96.88M
Total Long-Term Liabilities $107.7M $79.25M
Total Liabilities $208.0M $206.4M
YoY Change 0.77% -8.97%
SHAREHOLDERS EQUITY
Retained Earnings $95.71M $82.24M
YoY Change 16.39% 42.82%
Common Stock $293.0K $290.0K
YoY Change 1.03% 1.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.00M $0.00
YoY Change
Treasury Stock Shares 960.9K shares
Shareholders Equity $273.1M $276.2M
YoY Change
Total Liabilities & Shareholders Equity $481.2M $482.7M
YoY Change -0.3% 2.32%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $2.217M $2.761M
YoY Change -19.7% 27.18%
Depreciation, Depletion And Amortization $7.884M $8.626M
YoY Change -8.6% 1.36%
Cash From Operating Activities $9.560M $12.32M
YoY Change -22.4% -20.62%
INVESTING ACTIVITIES
Capital Expenditures -$6.690M -$3.860M
YoY Change 73.32% 6.34%
Acquisitions
YoY Change
Other Investing Activities $610.0K $80.00K
YoY Change 662.5% -80.95%
Cash From Investing Activities -$6.080M -$3.780M
YoY Change 60.85% 17.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.580M -6.040M
YoY Change -7.62% -55.06%
NET CHANGE
Cash From Operating Activities 9.560M 12.32M
Cash From Investing Activities -6.080M -3.780M
Cash From Financing Activities -5.580M -6.040M
Net Change In Cash -2.100M 2.500M
YoY Change -184.0% -319.3%
FREE CASH FLOW
Cash From Operating Activities $9.560M $12.32M
Capital Expenditures -$6.690M -$3.860M
Free Cash Flow $16.25M $16.18M
YoY Change 0.43% -15.51%

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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Interest Paid
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us-gaap Litigation Settlement Expense
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us-gaap Litigation Settlement Expense
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0 USD
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162000 USD
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37778000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
22972000 USD
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2761000 USD
us-gaap Net Income Loss
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6208000 USD
CY2017Q2 us-gaap Net Income Loss
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2217000 USD
us-gaap Net Income Loss
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3909000 USD
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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2000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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1000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Number Of Operating Segments
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2017Q2 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
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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4500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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9789000 USD
CY2016Q4 us-gaap Preferred Stock Shares Authorized
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CY2017Q2 us-gaap Preferred Stock Shares Authorized
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CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
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CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Long Term Capital Lease Obligations
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4221000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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us-gaap Research And Development Expense
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CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q2 us-gaap Sales Revenue Net
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37217000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37973000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
75273000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3195000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3420000 USD
CY2016Q4 us-gaap Stockholders Equity
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270582000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
273078000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
273249000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2017Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
960882 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
9000000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
21000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30152000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30083000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29599000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29754000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28932000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28924000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28437000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28562000 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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