2015 Q1 Form 10-Q Financial Statement

#000103764615000017 Filed on May 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $535.7M $550.6M
YoY Change -2.71% 5.01%
Cost Of Revenue $72.23M $76.53M
YoY Change -5.62% 5.4%
Gross Profit $298.8M $292.6M
YoY Change 2.11% 4.83%
Gross Profit Margin 55.78% 53.15%
Selling, General & Admin $173.0M $172.2M
YoY Change 0.49% 3.71%
% of Gross Profit 57.91% 58.84%
Research & Development $28.46M $29.50M
YoY Change -3.51% 6.49%
% of Gross Profit 9.52% 10.08%
Depreciation & Amortization $8.301M $8.420M
YoY Change -1.41% -5.19%
% of Gross Profit 2.78% 2.88%
Operating Expenses $201.5M $201.7M
YoY Change -0.09% 4.11%
Operating Profit $97.31M $90.95M
YoY Change 6.98% 6.46%
Interest Expense $6.725M $5.666M
YoY Change 18.69% 4.93%
% of Operating Profit 6.91% 6.23%
Other Income/Expense, Net $817.0K -$317.0K
YoY Change -357.73% -58.99%
Pretax Income $82.96M $76.38M
YoY Change 8.61% 10.48%
Income Tax $19.91M $18.33M
% Of Pretax Income 24.0% 24.0%
Net Earnings $63.05M $58.05M
YoY Change 8.61% 10.48%
Net Earnings / Revenue 11.77% 10.54%
Basic Earnings Per Share $2.24 $1.98
Diluted Earnings Per Share $2.19 $1.93
COMMON SHARES
Basic Shares Outstanding 28.12M shares 29.37M shares
Diluted Shares Outstanding 28.76M shares 30.09M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.40M $115.8M
YoY Change -34.89% 24.25%
Cash & Equivalents $75.36M $115.8M
Short-Term Investments
Other Short-Term Assets $138.4M $124.7M
YoY Change 10.99% -0.64%
Inventory $218.7M $224.4M
Prepaid Expenses
Receivables $382.4M $425.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $814.9M $890.1M
YoY Change -8.45% 7.38%
LONG-TERM ASSETS
Property, Plant & Equipment $510.5M $517.7M
YoY Change -1.38% 11.05%
Goodwill $437.7M $456.9M
YoY Change -4.21% 2.52%
Intangibles $110.5M $112.9M
YoY Change -2.16% -2.23%
Long-Term Investments
YoY Change
Other Assets $75.49M $135.3M
YoY Change -44.2% 52.72%
Total Long-Term Assets $1.161B $1.245B
YoY Change -6.76% 0.27%
TOTAL ASSETS
Total Short-Term Assets $814.9M $890.1M
Total Long-Term Assets $1.161B $1.245B
Total Assets $1.976B $2.135B
YoY Change -7.47% 3.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $131.7M $119.1M
YoY Change 10.53% 2.1%
Accrued Expenses $123.3M $117.9M
YoY Change 4.6% 7.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $114.7M $16.30M
YoY Change 603.68% -9.44%
Total Short-Term Liabilities $637.7M $509.2M
YoY Change 25.24% 6.46%
LONG-TERM LIABILITIES
Long-Term Debt $409.2M $449.6M
YoY Change -8.99% 6.56%
Other Long-Term Liabilities $202.0M $189.6M
YoY Change 6.53% -18.38%
Total Long-Term Liabilities $611.2M $639.2M
YoY Change -4.38% -2.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $637.7M $509.2M
Total Long-Term Liabilities $611.2M $639.2M
Total Liabilities $1.310B $1.212B
YoY Change 8.09% -4.63%
SHAREHOLDERS EQUITY
Retained Earnings $2.416B $2.092B
YoY Change 15.48% 16.33%
Common Stock $674.8M $661.4M
YoY Change 2.03% 3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.205B $1.797B
YoY Change 22.75% 17.77%
Treasury Stock Shares 16.82M shares 15.57M shares
Shareholders Equity $666.1M $923.6M
YoY Change
Total Liabilities & Shareholders Equity $1.976B $2.135B
YoY Change -7.47% 3.12%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $63.05M $58.05M
YoY Change 8.61% 10.48%
Depreciation, Depletion And Amortization $8.301M $8.420M
YoY Change -1.41% -5.19%
Cash From Operating Activities $58.60M $42.85M
YoY Change 36.76% 80.99%
INVESTING ACTIVITIES
Capital Expenditures $18.54M $16.72M
YoY Change 10.91% -12.1%
Acquisitions $200.0K $391.0K
YoY Change -48.85%
Other Investing Activities -$8.500M -$400.0K
YoY Change 2025.0%
Cash From Investing Activities -$27.08M -$17.15M
YoY Change 57.88% -9.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $123.7M $82.50M
YoY Change 50.0% 14.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$40.25M -$21.90M
YoY Change 83.76% 70.68%
NET CHANGE
Cash From Operating Activities $58.60M $42.85M
Cash From Investing Activities -$27.08M -$17.15M
Cash From Financing Activities -$40.25M -$21.90M
Net Change In Cash -$8.733M $3.789M
YoY Change -330.48% -146.53%
FREE CASH FLOW
Cash From Operating Activities $58.60M $42.85M
Capital Expenditures $18.54M $16.72M
Free Cash Flow $40.06M $26.13M
YoY Change 53.3% 461.43%

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CY2015Q1 us-gaap Interest Expense
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204531000 USD
CY2015Q1 us-gaap Inventory Net
InventoryNet
218663000 USD
CY2014Q4 us-gaap Inventory Raw Materials And Supplies
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97969000 USD
CY2015Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
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CY2014Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2015Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
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CY2014Q4 us-gaap Liabilities
Liabilities
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CY2015Q1 us-gaap Liabilities
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1309537000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2009110000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2015Q1 us-gaap Liabilities Current
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637703000 USD
CY2014Q4 us-gaap Long Term Debt Noncurrent
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335790000 USD
CY2015Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2014 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q1 us-gaap Net Income Loss
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CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1298000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1853000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2014Q4 us-gaap Other Liabilities Noncurrent
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CY2015Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
202019000 USD
CY2014Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2015Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
16000 USD
CY2014Q1 us-gaap Other Nonoperating Income Expense
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CY2015Q1 us-gaap Other Nonoperating Income Expense
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CY2014Q1 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
235000 USD
CY2015Q1 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
8384000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2015Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
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CY2014Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
391000 USD
CY2015Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
200000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16716000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18539000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
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CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
61647000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
75641000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
189000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
42000 USD
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3450000 USD
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2014Q4 us-gaap Property Plant And Equipment Net
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511462000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2014Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
836000 USD
CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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536000 USD
CY2014Q1 us-gaap Research And Development Expense
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CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28461000 USD
CY2014Q1 us-gaap Restructuring Charges
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CY2015Q1 us-gaap Restructuring Charges
RestructuringCharges
907000 USD
CY2014Q4 us-gaap Restructuring Reserve
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CY2015Q1 us-gaap Restructuring Reserve
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7912000 USD
CY2015Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-625000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2357334000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2415802000 USD
CY2014Q1 us-gaap Revenues
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CY2015Q1 us-gaap Revenues
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CY2014Q1 us-gaap Sales Revenue Goods Net
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422148000 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
412904000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
550621000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
535701000 USD
CY2014Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
128473000 USD
CY2015Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
122797000 USD
CY2014Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
172191000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
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CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3201000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3496000 USD
CY2014 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
21047000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
9546000 USD
CY2015Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000000 USD
CY2015Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
354600000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
935052000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
719595000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
666128000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
59297000 USD
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
57084000 USD
CY2014Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
245.37
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
308.69
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
16543004 shares
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2014Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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CY2014Q4 us-gaap Treasury Stock Value
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2095656000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
2205272000 USD
CY2014Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
82498000 USD
CY2014 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
414000000 USD
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
123745000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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30088245 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28762935 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29370232 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28115220 shares

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