2023 Q2 Form 10-Q Financial Statement

#000008943923000030 Filed on April 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022 Q1
Revenue $971.2M $877.6M $1.010B
YoY Change -15.55% -8.24% 23.45%
Cost Of Revenue $678.8M $620.8M $744.5M
YoY Change -17.31% -14.56% 11.38%
Gross Profit $292.4M $256.8M $265.5M
YoY Change -11.16% 11.76% 77.31%
Gross Profit Margin 30.11% 29.26% 26.29%
Selling, General & Admin $52.63M $55.63M $47.46M
YoY Change 7.51% 13.85% 4.45%
% of Gross Profit 18.0% 21.66% 17.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.66M $10.83M $10.84M
YoY Change -5.71% -5.51% -7.78%
% of Gross Profit 3.64% 4.22% 4.08%
Operating Expenses $52.63M $66.37M $47.46M
YoY Change 7.51% 9.71% 4.45%
Operating Profit $229.1M $190.4M $212.7M
YoY Change -14.79% 12.49% 129.85%
Interest Expense $143.0K -$144.0K $158.0K
YoY Change -2.72% -44.19% -96.46%
% of Operating Profit 0.06% -0.08% 0.07%
Other Income/Expense, Net $2.236M $8.779M $780.0K
YoY Change 1.5% -25182.86% 35.18%
Pretax Income $237.4M $185.9M $213.3M
YoY Change -12.36% 8.2% 140.64%
Income Tax $61.36M $49.80M $54.20M
% Of Pretax Income 25.84% 26.78% 25.41%
Net Earnings $173.2M $138.9M $158.3M
YoY Change -16.13% 10.59% 150.87%
Net Earnings / Revenue 17.84% 15.83% 15.67%
Basic Earnings Per Share $3.11 $2.82
Diluted Earnings Per Share $3.07 $2.47 $2.78
COMMON SHARES
Basic Shares Outstanding 55.69M shares 56.86M shares 56.10M shares
Diluted Shares Outstanding 56.40M shares 56.91M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $782.4M $678.9M $139.3M
YoY Change 286.37% 672.12% 7.2%
Cash & Equivalents $611.4M $461.0M $139.3M
Short-Term Investments $171.0M $217.9M
Other Short-Term Assets $28.42M $26.50M $40.95M
YoY Change -37.85% -8.54% -6.32%
Inventory $452.8M $448.9M $471.9M
Prepaid Expenses
Receivables $503.4M $380.4M $588.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.767B $1.535B $1.241B
YoY Change 32.29% 50.6% 25.75%
LONG-TERM ASSETS
Property, Plant & Equipment $377.3M $380.0M $380.7M
YoY Change -2.79% -1.46% -1.08%
Goodwill $158.2M $157.6M $172.1M
YoY Change -2.74% -8.02% 2.3%
Intangibles $53.86M $54.79M $60.79M
YoY Change -10.99% -11.23% -21.84%
Long-Term Investments $72.40M $72.36M $63.07M
YoY Change 3.09% 18.37% 62.13%
Other Assets $20.96M $20.17M $6.791M
YoY Change 206.3% 201.72% -49.94%
Total Long-Term Assets $712.6M $707.7M $705.4M
YoY Change 0.2% -0.31% -0.9%
TOTAL ASSETS
Total Short-Term Assets $1.767B $1.535B $1.241B
Total Long-Term Assets $712.6M $707.7M $705.4M
Total Assets $2.480B $2.242B $1.946B
YoY Change 21.14% 29.7% 14.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $179.2M $128.0M $226.7M
YoY Change -14.18% -29.2% 27.96%
Accrued Expenses $42.94M $4.942M $40.65M
YoY Change -12.92% -91.12% -11.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.108M $811.0K $812.0K
YoY Change -0.36% 0.0% -99.24%
Total Short-Term Liabilities $406.7M $348.3M $451.6M
YoY Change -2.87% -8.93% 1.6%
LONG-TERM LIABILITIES
Long-Term Debt $1.251M $1.218M $1.098M
YoY Change 10.61% 14.47% -99.62%
Other Long-Term Liabilities $16.50M $16.35M $21.59M
YoY Change -21.15% -25.05% 48.84%
Total Long-Term Liabilities $17.75M $17.57M $22.68M
YoY Change -19.52% -23.21% -92.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $406.7M $348.3M $451.6M
Total Long-Term Liabilities $17.75M $17.57M $22.68M
Total Liabilities $492.2M $428.4M $539.8M
YoY Change -1.83% -9.22% -34.99%
SHAREHOLDERS EQUITY
Retained Earnings $2.216B $2.060B $1.602B
YoY Change 23.46% 41.23% 49.01%
Common Stock $802.0K $802.0K $802.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $505.6M $502.8M $474.3M
YoY Change 0.43% 6.97% 1.07%
Treasury Stock Shares
Shareholders Equity $1.962B $1.791B $1.370B
YoY Change
Total Liabilities & Shareholders Equity $2.480B $2.242B $1.946B
YoY Change 21.14% 29.7% 14.58%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022 Q1
OPERATING ACTIVITIES
Net Income $173.2M $138.9M $158.3M
YoY Change -16.13% 10.59% 150.87%
Depreciation, Depletion And Amortization $10.66M $10.83M $10.84M
YoY Change -5.71% -5.51% -7.78%
Cash From Operating Activities $111.6M $207.0M $62.86M
YoY Change -21.22% 58.99% -378.37%
INVESTING ACTIVITIES
Capital Expenditures $7.556M $8.084M -$5.259M
YoY Change -142.0% -228.6% -42.84%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $58.76M -$217.7M $7.178M
YoY Change 2849.9% 2473.0% -158.36%
Cash From Investing Activities $51.21M -$225.7M $1.919M
YoY Change -420.1% 1430.92% -108.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $3.972M
YoY Change
Debt Paid & Issued, Net $56.00K $56.00K
YoY Change -99.84%
Cash From Financing Activities -$19.10M -21.36M -$4.258M
YoY Change -66.51% -83.89% -106.55%
NET CHANGE
Cash From Operating Activities $111.6M 207.0M $62.86M
Cash From Investing Activities $51.21M -225.7M $1.919M
Cash From Financing Activities -$19.10M -21.36M -$4.258M
Net Change In Cash $146.3M -40.07M $60.82M
YoY Change 113.1% 134.31% 180.86%
FREE CASH FLOW
Cash From Operating Activities $111.6M $207.0M $62.86M
Capital Expenditures $7.556M $8.084M -$5.259M
Free Cash Flow $104.1M $198.9M $68.12M
YoY Change -34.82% 45.74% -609.07%

Facts In Submission

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