2019 Q1 Form 10-Q Financial Statement

#000008943919000035 Filed on April 24, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $611.8M $640.1M
YoY Change -4.42%
Cost Of Revenue $511.4M $545.7M
YoY Change -6.28%
Gross Profit $100.4M $94.39M
YoY Change 6.35%
Gross Profit Margin 16.41% 14.75%
Selling, General & Admin $40.65M $34.06M
YoY Change 19.37%
% of Gross Profit 40.5% 36.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.56M $9.456M
YoY Change 11.62%
% of Gross Profit 10.51% 10.02%
Operating Expenses $40.65M $34.06M
YoY Change 19.37%
Operating Profit $49.18M $47.41M
YoY Change 3.74%
Interest Expense $6.954M $5.909M
YoY Change 17.68%
% of Operating Profit 14.14% 12.46%
Other Income/Expense, Net -$172.0K $560.0K
YoY Change -130.71%
Pretax Income $42.05M $42.06M
YoY Change -0.01%
Income Tax $9.546M $7.395M
% Of Pretax Income 22.7% 17.58%
Net Earnings $15.72M $24.13M
YoY Change -34.84%
Net Earnings / Revenue 2.57% 3.77%
Basic Earnings Per Share $0.28 $0.42
Diluted Earnings Per Share $0.28 $0.42
COMMON SHARES
Basic Shares Outstanding 55.73M shares 56.90M shares
Diluted Shares Outstanding 56.25M shares 57.42M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.60M $91.60M
YoY Change 6.55%
Cash & Equivalents $97.60M $91.57M
Short-Term Investments
Other Short-Term Assets $32.32M $20.27M
YoY Change 59.48%
Inventory $344.9M $329.2M
Prepaid Expenses
Receivables $309.8M $321.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $784.5M $762.8M
YoY Change 2.85%
LONG-TERM ASSETS
Property, Plant & Equipment $369.7M $300.1M
YoY Change 23.21%
Goodwill $153.1M $137.0M
YoY Change 11.72%
Intangibles $61.56M $40.74M
YoY Change 51.12%
Long-Term Investments $50.70M $70.10M
YoY Change -27.67%
Other Assets $25.90M $26.10M
YoY Change -0.79%
Total Long-Term Assets $690.5M $574.0M
YoY Change 20.3%
TOTAL ASSETS
Total Short-Term Assets $784.5M $762.8M
Total Long-Term Assets $690.5M $574.0M
Total Assets $1.475B $1.337B
YoY Change 10.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.3M $115.4M
YoY Change -7.04%
Accrued Expenses $34.40M $27.10M
YoY Change 26.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M $9.100M
YoY Change -45.05%
Total Short-Term Liabilities $220.5M $213.3M
YoY Change 3.38%
LONG-TERM LIABILITIES
Long-Term Debt $559.8M $478.8M
YoY Change 16.93%
Other Long-Term Liabilities $19.99M $21.63M
YoY Change -7.59%
Total Long-Term Liabilities $579.8M $500.4M
YoY Change 15.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $220.5M $213.3M
Total Long-Term Liabilities $579.8M $500.4M
Total Liabilities $893.1M $783.8M
YoY Change 13.95%
SHAREHOLDERS EQUITY
Retained Earnings $834.8M $761.3M
YoY Change 9.65%
Common Stock $802.0K $802.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $476.1M $452.2M
YoY Change 5.29%
Treasury Stock Shares
Shareholders Equity $565.4M $538.8M
YoY Change
Total Liabilities & Shareholders Equity $1.475B $1.337B
YoY Change 10.34%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $15.72M $24.13M
YoY Change -34.84%
Depreciation, Depletion And Amortization $10.56M $9.456M
YoY Change 11.62%
Cash From Operating Activities -$24.67M -$26.52M
YoY Change -6.95%
INVESTING ACTIVITIES
Capital Expenditures -$6.800M -$5.500M
YoY Change 23.64%
Acquisitions $0.00 $12.47M
YoY Change -100.0%
Other Investing Activities -$8.000M -$12.40M
YoY Change -35.48%
Cash From Investing Activities -$14.83M -$17.88M
YoY Change -17.08%
FINANCING ACTIVITIES
Cash Dividend Paid $5.574M $5.679M
YoY Change -1.85%
Common Stock Issuance & Retirement, Net $1.763M $6.575M
YoY Change -73.19%
Debt Paid & Issued, Net $30.47M $15.90M
YoY Change 91.61%
Cash From Financing Activities $60.45M $10.31M
YoY Change 486.63%
NET CHANGE
Cash From Operating Activities -$24.67M -$26.52M
Cash From Investing Activities -$14.83M -$17.88M
Cash From Financing Activities $60.45M $10.31M
Net Change In Cash $21.87M -$32.81M
YoY Change -166.66%
FREE CASH FLOW
Cash From Operating Activities -$24.67M -$26.52M
Capital Expenditures -$6.800M -$5.500M
Free Cash Flow -$17.87M -$21.02M
YoY Change -14.95%

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16524000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17884000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14830000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26515000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24673000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
24128000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
15723000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
216000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1416000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
47408000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
49180000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1627000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
30174000 USD
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
0 USD
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4737000 USD
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4900000 USD
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25437000 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
26600000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1585000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
29515000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30800000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y3M26D
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
26790000 USD
CY2019Q1 us-gaap Other Assets Current
OtherAssetsCurrent
32322000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-172000 USD
CY2018Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
14818000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25950000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25898000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1062000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1257000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
279000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-343000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4977000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
6057000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3063000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
7115000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
451000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
246000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
180000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
107000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
83397000 USD
CY2019Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
73869000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
18212000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
19989000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
560000 USD
CY2019Q1 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
14802000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6575000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1763000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
5679000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
5574000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
12466000 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2018Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
609000 USD
CY2019Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
8000000 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
5517000 USD
CY2019Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6834000 USD
CY2018Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
14237000 USD
CY2019Q1 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
13573000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
41754000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
100557000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
108000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
824737000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
834798000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
640060000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
708000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
24344000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
17139000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
370633000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
369710000 USD
CY2018Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
3342000 USD
CY2019Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
2121000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15903000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
30472000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4414000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1302000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
108000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
611781000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
34057000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
40653000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1912000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2007000 USD
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1490000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
548356000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
565398000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
563260000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
581922000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
474240000 USD
CY2019Q1 us-gaap Treasury Stock Value
TreasuryStockValue
476121000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
517000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
526000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57417000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56254000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56900000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55728000 shares

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