2017 Q4 Form 10-Q Financial Statement

#000143612617000054 Filed on November 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $187.6M $179.6M $168.8M
YoY Change 10.28% 6.37% -6.14%
Cost Of Revenue $137.3M $126.3M $112.8M
YoY Change 15.17% 12.03% -8.63%
Gross Profit $50.32M $47.90M $50.65M
YoY Change 4.88% -5.44% -1.22%
Gross Profit Margin 26.82% 26.67% 30.0%
Selling, General & Admin $39.50M $38.22M $35.00M
YoY Change 8.97% 9.21% -2.35%
% of Gross Profit 78.5% 79.79% 69.09%
Research & Development $500.0K $555.0K $643.0K
YoY Change -13.79% -13.69% 3.54%
% of Gross Profit 0.99% 1.16% 1.27%
Depreciation & Amortization $7.740M $8.095M $7.919M
YoY Change -1.95% 2.22% -0.52%
% of Gross Profit 15.38% 16.9% 15.63%
Operating Expenses $42.60M $38.77M $35.64M
YoY Change 15.67% 8.79% -2.25%
Operating Profit $6.282M -$10.38M $12.12M
YoY Change 113.38% -185.63% -6.31%
Interest Expense -$1.300M -$1.100M -$800.0K
YoY Change 44.44% 37.5% -57.89%
% of Operating Profit -20.69% -6.6%
Other Income/Expense, Net
YoY Change
Pretax Income $5.000M -$11.46M $11.34M
YoY Change -56.82% -201.04% 2.98%
Income Tax $2.200M -$4.503M $4.083M
% Of Pretax Income 44.0% 36.01%
Net Earnings $884.0K -$6.968M $7.238M
YoY Change -8.2% -196.27% 5.33%
Net Earnings / Revenue 0.47% -3.88% 4.29%
Basic Earnings Per Share
Diluted Earnings Per Share $31.80K -$247.3K $218.5K
COMMON SHARES
Basic Shares Outstanding 28.29M shares 28.27M shares 29.05M shares
Diluted Shares Outstanding 28.27M shares 30.23M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.50M $26.90M $14.90M
YoY Change 4.56% 80.54% 27.35%
Cash & Equivalents $27.54M $26.86M $16.51M
Short-Term Investments
Other Short-Term Assets $18.90M $16.10M $18.60M
YoY Change -17.83% -13.44% 26.53%
Inventory $10.50M $11.24M $10.05M
Prepaid Expenses
Receivables $138.1M $140.2M $134.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $195.0M $194.4M $177.7M
YoY Change 6.76% 9.37% 3.77%
LONG-TERM ASSETS
Property, Plant & Equipment $87.14M $77.17M $76.66M
YoY Change 19.13% 0.67% -1.3%
Goodwill $203.4M $165.7M $169.2M
YoY Change 19.71% -2.06% 2.41%
Intangibles $63.74M $42.24M $41.51M
YoY Change 59.32% 1.76% -14.99%
Long-Term Investments
YoY Change
Other Assets $3.507M $2.829M $2.222M
YoY Change 35.25% 27.32% 6.37%
Total Long-Term Assets $359.4M $290.1M $290.6M
YoY Change 25.34% -0.18% -1.39%
TOTAL ASSETS
Total Short-Term Assets $195.0M $194.4M $177.7M
Total Long-Term Assets $359.4M $290.1M $290.6M
Total Assets $554.4M $484.4M $468.3M
YoY Change 18.11% 3.45% 0.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.36M $8.925M $8.669M
YoY Change 52.27% 2.95% -13.94%
Accrued Expenses $55.80M $57.20M $56.40M
YoY Change -5.74% 1.42% 21.55%
Deferred Revenue $6.338M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.358M $2.490M $2.089M
YoY Change 70.99% 19.2% -87.22%
Total Short-Term Liabilities $90.23M $87.86M $81.02M
YoY Change 16.1% 8.45% -6.81%
LONG-TERM LIABILITIES
Long-Term Debt $164.5M $101.8M $68.34M
YoY Change 91.49% 48.96% -23.59%
Other Long-Term Liabilities $11.36M $9.510M $7.136M
YoY Change 45.89% 33.27% -18.28%
Total Long-Term Liabilities $175.9M $111.3M $75.48M
YoY Change 87.7% 47.48% -23.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.23M $87.86M $81.02M
Total Long-Term Liabilities $175.9M $111.3M $75.48M
Total Liabilities $283.6M $216.8M $187.3M
YoY Change 42.76% 15.74% -12.53%
SHAREHOLDERS EQUITY
Retained Earnings $64.72M $88.74M $88.83M
YoY Change -29.5% -0.1% 37.82%
Common Stock $282.0K $294.0K $291.0K
YoY Change -3.42% 1.03% 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $24.92M
YoY Change -100.0%
Treasury Stock Shares 0.000 shares 1.146M shares
Shareholders Equity $270.6M $267.5M $280.9M
YoY Change
Total Liabilities & Shareholders Equity $554.4M $484.4M $468.3M
YoY Change 18.11% 3.45% 0.51%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $884.0K -$6.968M $7.238M
YoY Change -8.2% -196.27% 5.33%
Depreciation, Depletion And Amortization $7.740M $8.095M $7.919M
YoY Change -1.95% 2.22% -0.52%
Cash From Operating Activities $20.57M $12.26M $17.34M
YoY Change 138.35% -29.31% 7.0%
INVESTING ACTIVITIES
Capital Expenditures -$5.220M -$4.870M $3.729M
YoY Change 52.63% -230.6% -17.15%
Acquisitions $1.188M
YoY Change
Other Investing Activities -$75.07M -$3.420M -$960.0K
YoY Change 1030.57% 256.25% -664.71%
Cash From Investing Activities -$80.28M -$8.300M -$4.975M
YoY Change 698.01% 66.83% 13.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $10.65M
YoY Change -13.77%
Cash From Financing Activities 60.16M -4.380M -$17.85M
YoY Change 345.3% -75.46% 68.97%
NET CHANGE
Cash From Operating Activities 20.57M 12.26M $17.34M
Cash From Investing Activities -80.28M -8.300M -$4.975M
Cash From Financing Activities 60.16M -4.380M -$17.85M
Net Change In Cash 450.0K -420.0K -$5.478M
YoY Change -96.27% -92.33% -538.59%
FREE CASH FLOW
Cash From Operating Activities $20.57M $12.26M $17.34M
Capital Expenditures -$5.220M -$4.870M $3.729M
Free Cash Flow $25.79M $17.13M $13.62M
YoY Change 114.02% 25.82% 16.28%

Facts In Submission

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us-gaap Increase Decrease In Accounts Payable Trade
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us-gaap Increase Decrease In Accounts Receivable
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CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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120000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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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 Interest Paid
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CY2017Q3 us-gaap Inventory Net
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CY2016Q4 us-gaap Liabilities
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198683000 USD
CY2017Q3 us-gaap Liabilities
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LiabilitiesAndStockholdersEquity
484422000 USD
CY2017Q3 us-gaap Liabilities Current
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us-gaap Litigation Settlement Expense
LitigationSettlementExpense
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CY2016Q3 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0 USD
us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1200000 USD
CY2017Q3 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
1200000 USD
CY2016Q4 us-gaap Long Term Debt
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CY2017Q3 us-gaap Long Term Debt
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CY2017Q3 us-gaap Long Term Debt Current
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2490000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
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CY2017Q3 us-gaap Loss Contingency Accrual At Carrying Value
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CY2016Q4 us-gaap Loss Contingency Accrual Carrying Value Current
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6320000 USD
CY2017Q3 us-gaap Loss Contingency Accrual Carrying Value Current
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1200000 USD
CY2016Q4 us-gaap Minority Interest
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CY2017Q3 us-gaap Minority Interest
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187000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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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
NetCashProvidedByUsedInInvestingActivities
-22516000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
52109000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
35226000 USD
us-gaap Net Income Loss
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13446000 USD
CY2016Q3 us-gaap Net Income Loss
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7238000 USD
us-gaap Net Income Loss
NetIncomeLoss
-3059000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-6968000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
29000 USD
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15000 USD
us-gaap Notes Issued1
NotesIssued1
325000 USD
us-gaap Notes Issued1
NotesIssued1
0 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
us-gaap Operating Income Loss
OperatingIncomeLoss
22601000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
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CY2017Q3 us-gaap Operating Income Loss
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CY2016Q4 us-gaap Other Accrued Liabilities Current
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CY2017Q3 us-gaap Other Accrued Liabilities Current
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CY2016Q4 us-gaap Other Assets Noncurrent
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CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1966000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2641000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
11935000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4443000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
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CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9510000 USD
us-gaap Other Noncash Income Expense
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us-gaap Other Noncash Income Expense
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us-gaap Payments For Repurchase Of Common Stock
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0 USD
us-gaap Payments For Repurchase Of Common Stock
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15923000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2146000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1497000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1200000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
8356000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11238000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14413000 USD
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16399000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16077000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
761000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1057000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1194000 USD
us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Profit Loss
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13475000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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ProfitLoss
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28966000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29051000 shares
CY2016Q4 us-gaap Property Plant And Equipment Gross
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199972000 USD
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PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentNet
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PropertyPlantAndEquipmentNet
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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CY2016Q4 us-gaap Receivables Net Current
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CY2017Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
49000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
26900000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6703000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
4878000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1638000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1928000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
643000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1749000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
555000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
91803000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
88744000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
514606000 USD
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
168811000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
513326000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
179570000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
107266000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
34995000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
113491000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
38217000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5161000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5179000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
270582000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
267475000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
270744000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
267662000 USD
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
420258 shares
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1146249 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
9000000 USD
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
24923000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30139000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30231000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28465000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28274000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28465000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28274000 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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