2016 Q3 Form 10-Q Financial Statement

#000006638216000095 Filed on October 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $598.6M $565.4M
YoY Change 5.87% 10.93%
Cost Of Revenue $368.6M $348.6M
YoY Change 5.74% 7.56%
Gross Profit $230.0M $216.8M
YoY Change 6.09% 16.81%
Gross Profit Margin 38.42% 38.34%
Selling, General & Admin $154.2M $143.1M
YoY Change 7.76% 12.94%
% of Gross Profit 67.04% 66.01%
Research & Development $19.40M $18.60M
YoY Change 4.3% 11.38%
% of Gross Profit 8.43% 8.58%
Depreciation & Amortization $13.90M $13.70M
YoY Change 1.46% 14.17%
% of Gross Profit 6.04% 6.32%
Operating Expenses $173.6M $161.7M
YoY Change 7.36% 12.76%
Operating Profit $56.40M $55.10M
YoY Change 2.36% 30.57%
Interest Expense -$3.800M $3.900M
YoY Change -197.44% -17.02%
% of Operating Profit -6.74% 7.08%
Other Income/Expense, Net $600.0K -$500.0K
YoY Change -220.0%
Pretax Income $53.20M $50.70M
YoY Change 4.93% 35.2%
Income Tax $17.00M $17.00M
% Of Pretax Income 31.95% 33.53%
Net Earnings $36.30M $33.50M
YoY Change 8.36% 32.94%
Net Earnings / Revenue 6.06% 5.93%
Basic Earnings Per Share $0.56
Diluted Earnings Per Share $0.60 $0.56
COMMON SHARES
Basic Shares Outstanding 60.02M shares 59.73M shares
Diluted Shares Outstanding 60.23M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.80M $57.70M
YoY Change 26.17% -25.64%
Cash & Equivalents $65.10M $52.00M
Short-Term Investments $7.700M $5.700M
Other Short-Term Assets $48.30M $74.70M
YoY Change -35.34% 18.76%
Inventory $146.2M $136.9M
Prepaid Expenses $48.30M $74.70M
Receivables $183.6M $202.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $450.9M $471.5M
YoY Change -4.37% 1.35%
LONG-TERM ASSETS
Property, Plant & Equipment $288.2M $252.9M
YoY Change 13.96% 11.02%
Goodwill $304.9M $303.0M
YoY Change 0.63% 0.17%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $60.60M $33.50M
YoY Change 80.9% -29.62%
Total Long-Term Assets $788.2M $725.5M
YoY Change 8.64% -0.82%
TOTAL ASSETS
Total Short-Term Assets $450.9M $471.5M
Total Long-Term Assets $788.2M $725.5M
Total Assets $1.239B $1.197B
YoY Change 3.52% 0.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $159.0M $151.6M
YoY Change 4.88% -1.11%
Accrued Expenses $197.2M $204.7M
YoY Change -3.66% 8.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $356.2M $356.3M
YoY Change -0.03% -9.06%
LONG-TERM LIABILITIES
Long-Term Debt $233.9M $268.0M
YoY Change -12.72% -10.67%
Other Long-Term Liabilities $51.00M $62.40M
YoY Change -18.27% -10.86%
Total Long-Term Liabilities $284.9M $330.4M
YoY Change -13.77% -10.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $356.2M $356.3M
Total Long-Term Liabilities $284.9M $330.4M
Total Liabilities $664.3M $713.8M
YoY Change -6.93% -8.38%
SHAREHOLDERS EQUITY
Retained Earnings $461.4M $361.8M
YoY Change 27.53% 22.98%
Common Stock $12.00M $12.00M
YoY Change 0.0% 0.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $548.8M $451.1M
YoY Change
Total Liabilities & Shareholders Equity $1.239B $1.197B
YoY Change 3.52% 0.03%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $36.30M $33.50M
YoY Change 8.36% 32.94%
Depreciation, Depletion And Amortization $13.90M $13.70M
YoY Change 1.46% 14.17%
Cash From Operating Activities $30.20M $33.30M
YoY Change -9.31% -20.71%
INVESTING ACTIVITIES
Capital Expenditures $22.10M $16.60M
YoY Change 33.13% 102.44%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$29.30M -$500.0K
YoY Change 5760.0% -183.33%
Cash From Investing Activities -$51.40M -$13.10M
YoY Change 292.37% -91.94%
FINANCING ACTIVITIES
Cash Dividend Paid $8.400M
YoY Change 1.2%
Common Stock Issuance & Retirement, Net $1.500M
YoY Change 650.0%
Debt Paid & Issued, Net $226.8M
YoY Change 170.0%
Cash From Financing Activities 800.0K -31.10M
YoY Change -102.57% -136.0%
NET CHANGE
Cash From Operating Activities 30.20M 33.30M
Cash From Investing Activities -51.40M -13.10M
Cash From Financing Activities 800.0K -31.10M
Net Change In Cash -20.40M -10.90M
YoY Change 87.16% -68.13%
FREE CASH FLOW
Cash From Operating Activities $30.20M $33.30M
Capital Expenditures $22.10M $16.60M
Free Cash Flow $8.100M $16.70M
YoY Change -51.5% -50.59%

Facts In Submission

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us-gaap Operating Expenses
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173600000 USD
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55100000 USD
us-gaap Operating Income Loss
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56400000 USD
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95300000 USD
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93300000 USD
CY2016Q2 us-gaap Other Assets Noncurrent
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33300000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
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60600000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-3500000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
400000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
0 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2600000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3400000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-900000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-1300000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
45800000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
51000000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
600000 USD
CY2015Q3 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
800000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
100000 USD
CY2015Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
100000 USD
CY2015Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2400000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7200000 USD
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PaymentsOfDividends
8400000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
8800000 USD
CY2015Q3 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
0 USD
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
1500000 USD
CY2015Q3 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
13900000 USD
CY2015Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
22100000 USD
CY2015Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
400000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
100000 USD
CY2016Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
25800000 USD
CY2016Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
23200000 USD
CY2016Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
451700000 USD
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
48900000 USD
CY2016Q3 us-gaap Prepaid Expense Current
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48300000 USD
CY2015Q3 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
3000000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
0 USD
CY2015Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
900000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6000000 USD
CY2015Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
204800000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
233500000 USD
CY2015Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-100000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-100000 USD
CY2015Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
39300000 USD
CY2015Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
39500000 USD
CY2016Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
43900000 USD
CY2016Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
43900000 USD
CY2016Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
43900000 USD
CY2016Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
43900000 USD
CY2015Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5400000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5200000 USD
CY2015Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5600000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5200000 USD
CY2015Q3 us-gaap Profit Loss
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33800000 USD
us-gaap Profit Loss
ProfitLoss
36500000 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
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929000000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
944900000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
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280100000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
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288200000 USD
CY2016Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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27000000 USD
CY2016Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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25700000 USD
CY2015Q3 us-gaap Repayments Of Long Term Debt
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226800000 USD
us-gaap Repayments Of Long Term Debt
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221500000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18600000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
19400000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
435300000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
461400000 USD
CY2015Q3 us-gaap Sales Revenue Net
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565400000 USD
us-gaap Sales Revenue Net
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598600000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
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143100000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
154200000 USD
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3400000 USD
CY2015Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
17390 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
191023 shares
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
451100000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
524400000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
548800000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
524700000 USD
CY2016Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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549100000 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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700000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
900000 USD
us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
200000 USD
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
100000 USD
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
497141 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
606384 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60231065 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60537156 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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59733924 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59930772 shares

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