2016 Q4 Form 10-K Financial Statement

#000006198617000007 Filed on February 28, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2016 Q2
Revenue $378.2M $349.8M $457.7M
YoY Change -30.36% -20.17% -4.19%
Cost Of Revenue $332.7M $309.0M $370.4M
YoY Change -26.86% -16.35% -2.5%
Gross Profit $45.50M $40.80M $87.30M
YoY Change -48.41% -40.7% -10.74%
Gross Profit Margin 12.03% 11.66% 19.07%
Selling, General & Admin $51.60M $73.00M $73.40M
YoY Change -33.07% -5.93% -7.67%
% of Gross Profit 113.41% 178.92% 84.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.50M $12.00M $12.20M
YoY Change -22.3% -9.77% -5.43%
% of Gross Profit 25.27% 29.41% 13.97%
Operating Expenses $52.70M $74.20M $74.60M
YoY Change -32.26% -5.48% -6.87%
Operating Profit -$23.80M -$134.2M $3.900M
YoY Change 71.22% 1343.01% -77.19%
Interest Expense -$10.40M $10.00M $9.900M
YoY Change -58.89% -58.33% -58.75%
% of Operating Profit 253.85%
Other Income/Expense, Net -$10.70M -$10.00M -$8.200M
YoY Change -991.67% -63.64% -63.06%
Pretax Income -$34.60M -$144.2M -$4.300M
YoY Change -9.42% 291.85% -15.69%
Income Tax -$2.600M -$5.300M $700.0K
% Of Pretax Income
Net Earnings -$33.40M -$140.7M -$5.800M
YoY Change -176.78% -3031.25% -124.89%
Net Earnings / Revenue -8.83% -40.22% -1.27%
Basic Earnings Per Share -$0.24 -$1.02 -$0.04
Diluted Earnings Per Share -$0.24 -$1.02 -$0.04
COMMON SHARES
Basic Shares Outstanding 138.4M 137.1M shares
Diluted Shares Outstanding 138.4M 137.1M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $69.90M $42.90M $40.80M
YoY Change 121.9% -42.95% -39.73%
Cash & Equivalents $69.90M $42.90M $40.80M
Short-Term Investments
Other Short-Term Assets $54.00M $54.50M $45.20M
YoY Change 17.65% -57.92% -65.1%
Inventory $429.0M $496.3M $499.9M
Prepaid Expenses
Receivables $134.4M $132.5M $189.7M
Other Receivables $62.40M $60.40M $58.20M
Total Short-Term Assets $749.7M $786.6M $850.1M
YoY Change -28.02% -38.41% -33.62%
LONG-TERM ASSETS
Property, Plant & Equipment $308.8M $315.3M $415.4M
YoY Change -24.81% -42.86% -27.06%
Goodwill $299.6M $309.8M $307.5M
YoY Change -2.25% -73.19% -74.05%
Intangibles $114.1M $118.9M $118.7M
YoY Change -4.36% -81.6% -82.74%
Long-Term Investments
YoY Change
Other Assets $45.60M $63.10M $68.60M
YoY Change -74.3% -42.53% -44.14%
Total Long-Term Assets $768.1M $812.6M $915.8M
YoY Change -69.53% -67.85% -64.29%
TOTAL ASSETS
Total Short-Term Assets $749.7M $786.6M $850.1M
Total Long-Term Assets $768.1M $812.6M $915.8M
Total Assets $1.518B $1.599B $1.766B
YoY Change -57.4% -57.97% -54.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $157.7M $184.3M $228.7M
YoY Change -41.27% -51.46% -47.45%
Accrued Expenses $162.5M $160.0M $148.5M
YoY Change -1.1% -46.72% -48.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $12.40M $15.30M $17.20M
YoY Change -81.55% -75.79% -74.52%
Total Short-Term Liabilities $412.8M $435.7M $482.9M
YoY Change -53.28% -53.2% -50.22%
LONG-TERM LIABILITIES
Long-Term Debt $269.1M $293.0M $275.0M
YoY Change -79.77% -81.4% -82.39%
Other Long-Term Liabilities $64.10M $65.50M $77.80M
YoY Change -26.58% -36.59% -27.43%
Total Long-Term Liabilities $514.5M $540.0M $531.7M
YoY Change -71.99% -74.09% -74.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $412.8M $435.7M $482.9M
Total Long-Term Liabilities $514.5M $540.0M $531.7M
Total Liabilities $927.3M $975.7M $1.015B
YoY Change -65.91% -67.64% -66.69%
SHAREHOLDERS EQUITY
Retained Earnings $247.3M $271.1M $378.3M
YoY Change -56.02% -46.49% -24.61%
Common Stock $569.0M $567.4M $565.6M
YoY Change 1.72% 2.42% 2.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $62.90M $65.80M $69.20M
YoY Change -12.15% -8.1% -3.35%
Treasury Stock Shares $23.33M 24.40M shares 25.60M shares
Shareholders Equity $590.5M $623.5M $751.3M
YoY Change
Total Liabilities & Shareholders Equity $1.518B $1.599B $1.766B
YoY Change -57.4% -57.97% -54.08%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2016 Q2
OPERATING ACTIVITIES
Net Income -$33.40M -$140.7M -$5.800M
YoY Change -176.78% -3031.25% -124.89%
Depreciation, Depletion And Amortization $11.50M $12.00M $12.20M
YoY Change -22.3% -9.77% -5.43%
Cash From Operating Activities -$396.7M -$3.000M -$16.30M
YoY Change -327.07% -147.62% -129.37%
INVESTING ACTIVITIES
Capital Expenditures -$11.10M -$10.10M -$13.80M
YoY Change -51.74% 7.45% -1.43%
Acquisitions
YoY Change
Other Investing Activities $460.5M $800.0K $0.00
YoY Change 560.69% -138.1% -100.0%
Cash From Investing Activities $449.4M -$9.300M -$13.80M
YoY Change 862.31% -19.13% 21.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.60M 14.40M -15.90M
YoY Change -89.74% 6.67% -66.46%
NET CHANGE
Cash From Operating Activities -396.7M -3.000M -16.30M
Cash From Investing Activities 449.4M -9.300M -13.80M
Cash From Financing Activities -23.60M 14.40M -15.90M
Net Change In Cash 29.10M 2.100M -46.00M
YoY Change -438.37% -74.7% 1293.94%
FREE CASH FLOW
Cash From Operating Activities -$396.7M -$3.000M -$16.30M
Capital Expenditures -$11.10M -$10.10M -$13.80M
Free Cash Flow -$385.6M $7.100M -$2.500M
YoY Change -295.04% -54.78% -103.6%

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37800000 USD
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35900000 USD
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43300000 USD
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2000000 USD
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400000 USD
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400000 USD
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400000 USD
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6800000 USD
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300000 USD
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CY2015 us-gaap Gross Profit
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40800000 USD
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CY2016 us-gaap Gross Profit
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42900000 USD
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32800000 USD
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CY2015 us-gaap Income Loss From Continuing Operations
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20400000 USD
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CY2016 us-gaap Concentration Risk Credit Risk
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Credit extended to customers through trade accounts receivable potentially subjects the Company to risk.&#160; This risk is limited due to the large number of customers and their dispersion across various industries and many geographical areas. However, a significant amount of the Company&#8217;s receivables are with distributors and contractors in the construction industry, customers servicing the U.S. steel industry and government agencies.&#160;The Company currently does not foresee a significant credit risk associated with these individual groups of receivables but continues to monitor the exposure, if any.</font></div></div>
CY2016 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
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