2013 Form 10-K Financial Statement

#000119312515046730 Filed on February 12, 2015

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012 Q3
Revenue $734.2M $209.4M $220.9M
YoY Change -9.06% 15.81% 10.22%
Cost Of Revenue $579.1M $151.8M $145.4M
YoY Change 2.66% 17.4% 3.67%
Gross Profit $155.1M $63.19M $74.65M
YoY Change -36.25% 22.6% 24.16%
Gross Profit Margin 21.12% 30.17% 33.8%
Selling, General & Admin $85.77M $23.00M $21.39M
YoY Change 3.74% 30.68% 19.61%
% of Gross Profit 55.31% 36.4% 28.65%
Research & Development $87.86M $17.20M $19.47M
YoY Change 15.22% -8.02% 2.46%
% of Gross Profit 56.66% 27.22% 26.08%
Depreciation & Amortization $32.73M $8.300M $8.400M
YoY Change 2.06% -5.68% -35.88%
% of Gross Profit 21.1% 13.14% 11.25%
Operating Expenses $181.8M $40.20M $40.86M
YoY Change 14.41% 10.74% 10.77%
Operating Profit -$26.77M $21.91M $32.49M
YoY Change -131.75% 43.8% 50.31%
Interest Expense -$21.10M $29.30M $5.746M
YoY Change -193.35% 161.61% -1.95%
% of Operating Profit 133.71% 17.68%
Other Income/Expense, Net -$33.47M $2.400M $16.73M
YoY Change -186.76% -366.67% -122.06%
Pretax Income -$60.23M $45.60M $52.31M
YoY Change -149.02% 78.13% -196.49%
Income Tax $3.970M $3.600M $3.901M
% Of Pretax Income 7.89% 7.46%
Net Earnings -$64.20M $47.01M $47.21M
YoY Change -158.35% 98.31% -184.29%
Net Earnings / Revenue -8.74% 22.45% 21.37%
Basic Earnings Per Share -$1.82 $1.31 $1.30
Diluted Earnings Per Share -$1.82 $1.27 $1.27
COMMON SHARES
Basic Shares Outstanding 35.23M shares 35.85M shares 36.20M shares
Diluted Shares Outstanding 35.23M shares 37.05M shares 37.29M shares

Balance Sheet

Concept 2013 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.6M $182.2M $165.7M
YoY Change -15.7% 12.4% 3.89%
Cash & Equivalents $153.6M $182.2M $165.7M
Short-Term Investments
Other Short-Term Assets $21.00M $10.62M $19.27M
YoY Change 2.94% -14.81% -26.45%
Inventory $74.70M $82.38M $75.02M
Prepaid Expenses $7.884M $9.120M
Receivables $78.40M $106.0M $148.5M
Other Receivables $6.500M $1.560M $2.100M
Total Short-Term Assets $334.2M $392.6M $419.8M
YoY Change -14.88% 10.49% 10.05%
LONG-TERM ASSETS
Property, Plant & Equipment $254.3M $237.4M $229.6M
YoY Change 7.12% 29.96% 27.57%
Goodwill $3.360M $3.218M
YoY Change
Intangibles $15.26M $16.68M
YoY Change -9.1%
Long-Term Investments
YoY Change
Other Assets $33.60M $14.87M $17.04M
YoY Change -5.35% -0.91% -33.68%
Total Long-Term Assets $291.0M $288.2M $272.9M
YoY Change 1.01% 28.63% 21.63%
TOTAL ASSETS
Total Short-Term Assets $334.2M $392.6M $419.8M
Total Long-Term Assets $291.0M $288.2M $272.9M
Total Assets $625.2M $680.7M $692.8M
YoY Change -8.15% 17.5% 14.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $75.10M $79.37M $97.39M
YoY Change -5.42% 1.91% 28.31%
Accrued Expenses $26.60M $47.38M $40.48M
YoY Change 33.67% 33.57% 9.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $162.1M $154.0M $167.2M
YoY Change 5.26% 7.46% 16.43%
LONG-TERM LIABILITIES
Long-Term Debt $223.9M $201.7M $201.6M
YoY Change 11.01% 0.13% 0.14%
Other Long-Term Liabilities $157.6M $18.72M $11.56M
YoY Change 17.96% 132.53% -88.56%
Total Long-Term Liabilities $381.5M $220.4M $213.1M
YoY Change 13.78% 5.22% -29.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $162.1M $154.0M $167.2M
Total Long-Term Liabilities $381.5M $220.4M $213.1M
Total Liabilities $543.6M $489.2M $485.4M
YoY Change 11.12% 9.89% 8.86%
SHAREHOLDERS EQUITY
Retained Earnings $170.1M $162.0M
YoY Change 183.23%
Common Stock $102.8M $101.2M
YoY Change 3.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $39.92M $34.73M
YoY Change 238.49%
Treasury Stock Shares 3.964M shares 3.558M shares
Shareholders Equity $81.50M $191.5M $207.4M
YoY Change
Total Liabilities & Shareholders Equity $625.2M $680.7M $692.8M
YoY Change -8.15% 17.5% 14.34%

Cashflow Statement

Concept 2013 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$64.20M $47.01M $47.21M
YoY Change -158.35% 98.31% -184.29%
Depreciation, Depletion And Amortization $32.73M $8.300M $8.400M
YoY Change 2.06% -5.68% -35.88%
Cash From Operating Activities $68.80M $28.50M $23.00M
YoY Change -43.19% 55.74% 22.99%
INVESTING ACTIVITIES
Capital Expenditures $42.48M -$1.900M -$10.20M
YoY Change -27.43% -64.81% -37.04%
Acquisitions
YoY Change
Other Investing Activities -$256.0K -$100.0K $5.100M
YoY Change 116.95% -102.86% -146.79%
Cash From Investing Activities -$44.10M -$2.000M -$5.100M
YoY Change -30.58% 5.26% -81.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $39.63M
YoY Change 45.88%
Debt Paid & Issued, Net $229.3M
YoY Change
Cash From Financing Activities -50.10M -4.600M -5.800M
YoY Change 66.27% -64.06% -57.97%
NET CHANGE
Cash From Operating Activities 68.80M 28.50M 23.00M
Cash From Investing Activities -44.10M -2.000M -5.100M
Cash From Financing Activities -50.10M -4.600M -5.800M
Net Change In Cash -25.40M 21.90M 12.10M
YoY Change -192.55% 508.33% -154.26%
FREE CASH FLOW
Cash From Operating Activities $68.80M $28.50M $23.00M
Capital Expenditures $42.48M -$1.900M -$10.20M
Free Cash Flow $26.32M $30.40M $33.20M
YoY Change -57.94% 28.27% -4.87%

Facts In Submission

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1565000
CY2011 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1295000
CY2011 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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8373000
CY2011 us-gaap Increase In Restricted Cash
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13609000
CY2011 us-gaap Increase Decrease In Other Operating Capital Net
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363000
CY2011 us-gaap Gross Profit
GrossProfit
199534000
CY2011 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1954000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1165000
CY2011 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6312000
CY2011 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2711000
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8268000
CY2011 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4359000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3186000
CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
529000
CY2011 us-gaap Operating Income Loss
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36977000
CY2011 us-gaap Interest Income Expense Nonoperating Net
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-24984000
CY2011 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-11348000
CY2011 us-gaap Comprehensive Income Net Of Tax
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-19569000
CY2011 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-40163000
CY2011 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2403000
CY2011 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1509000
CY2011 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1823000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3186000
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1950000
CY2011 us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-6000
CY2011 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
696000
CY2011 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
371000
CY2011 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11793000
CY2011 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1628000
CY2011 us-gaap Revenues
Revenues
743130000
CY2011 us-gaap Repayments Of Senior Debt
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50307000
CY2011 us-gaap Payments To Acquire Property Plant And Equipment
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47113000
CY2011 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1450000
CY2011 us-gaap Net Income Loss
NetIncomeLoss
-11301000
CY2011 us-gaap Interest Paid
InterestPaid
24722000
CY2011 us-gaap Increase Decrease In Accounts Receivable
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-19197000
CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2216000
CY2011 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-103000
CY2011 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-5559000
CY2011 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
5093000
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-2021000
CY2011 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-5459000
CY2011 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1052000
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
51224000
CY2011 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
11000
CY2011 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-1151000
CY2011 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
76589000
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
70223000
CY2011 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
970000
CY2011 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
837000
CY2011 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
924000
CY2011 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11793000
CY2011 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9412000
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-10061000
CY2011 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
1475000
CY2011 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
3946000
CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-1115000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8115000
CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
10979000
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
54000
CY2011 us-gaap Cost Of Revenue
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543596000
CY2011 us-gaap Decrease In Restricted Cash
DecreaseInRestrictedCash
6410000
CY2011 us-gaap Depreciation
Depreciation
41812000
CY2011 us-gaap Increase Decrease In Due To Employees Current
IncreaseDecreaseInDueToEmployeesCurrent
-10478000
CY2011 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-59076000
CY2011 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9336000
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
219000
CY2011 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-11872000
CY2011 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1668000
CY2011 us-gaap Inventory Write Down
InventoryWriteDown
1806000
CY2011 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-56098000
CY2011 us-gaap Advertising Expense
AdvertisingExpense
148000
CY2011 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
6038000
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6640000
CY2011 us-gaap Income Tax Reconciliation Tax Settlements Foreign
IncomeTaxReconciliationTaxSettlementsForeign
3867000
CY2011 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-7952000
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
8148000
CY2011 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
10979000
CY2011 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
2499000
CY2011 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
1536000
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
18144000
CY2011 us-gaap Severance Costs1
SeveranceCosts1
16481000
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
2216000
CY2011 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
78000
CY2011 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
3599000
CY2011 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2410000
CY2011 mx Increase Decrease Additional Paid In Capital Within Stockholders Equity
IncreaseDecreaseAdditionalPaidInCapitalWithinStockholdersEquity
-11793000
CY2011 mx Income Tax Reconciliation Thin Capitalization
IncomeTaxReconciliationThinCapitalization
3422000
CY2011 mx Recognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
RecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
5000
CY2011 mx Income Tax Reconciliation Hybrid And Other Interest Income
IncomeTaxReconciliationHybridAndOtherInterestIncome
6513000
CY2011 mx Share Based Compensation Arrangement By Performance Units Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByPerformanceUnitsWeightedAverageRemainingContractualTerm
P8Y1M6D
CY2011 mx Termination Benefits Cost
TerminationBenefitsCost
243000
CY2011 mx Increase Decrease In Net Income Loss
IncreaseDecreaseInNetIncomeLoss
5200000
CY2011 mx Liability For Income Taxes Associated With Uncertain Tax Positions Net
LiabilityForIncomeTaxesAssociatedWithUncertainTaxPositionsNet
548000
CY2011 mx Operating Loss Carryforwards Utilized During Period
OperatingLossCarryforwardsUtilizedDuringPeriod
32749000
CY2011 mx Share Based Compensation Arrangement By Share Based Payment Award Options Restrictions Released In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsRestrictionsReleasedInPeriod
0 shares
CY2011 mx Deferred Offering Costs Reclassified As Reduction Of Additional Paid In Capital
DeferredOfferingCostsReclassifiedAsReductionOfAdditionalPaidInCapital
7240000
CY2011 mx Income Tax Expense Reserves On Uncertain Tax Positions
IncomeTaxExpenseReservesOnUncertainTaxPositions
474000
CY2011 mx Income Tax Reconciliation Withholding Taxes
IncomeTaxReconciliationWithholdingTaxes
5861000
CY2011 mx Deferred Tax Assets Valuation Allowances On Net Operating Loss And Tax Credit Expiration
DeferredTaxAssetsValuationAllowancesOnNetOperatingLossAndTaxCreditExpiration
25965000
CY2011 mx Increase Decrease In Cost Of Sales
IncreaseDecreaseInCostOfSales
-4800000
CY2011 mx Share Based Compensation Arrangement By Share Based Payment Award Options And Restricted Stock Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndRestrictedStockVestedInPeriodFairValue
1818000
CY2011 mx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Released In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsReleasedInPeriod
287596 shares
CY2011 mx Income Tax Rate Reconciliation Change In Valuation Allowance
IncomeTaxRateReconciliationChangeInValuationAllowance
-20124000
CY2011 mx Deferred Tax Assets Valuation Allowance Foreign Currency Translation Adjustments
DeferredTaxAssetsValuationAllowanceForeignCurrencyTranslationAdjustments
1877000
CY2011 mx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisedInPeriod
0 shares
CY2011 mx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Grant Date Fair Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsGrantDateFairValuePerShare
4.12
CY2011 mx Inventory Valuation Reserves Foreign Currency Translation Adjustments
InventoryValuationReservesForeignCurrencyTranslationAdjustments
-286000
CY2011 mx Increase Decrease In Net Income Loss Per Unit
IncreaseDecreaseInNetIncomeLossPerUnit
0.13
CY2011 mx Unrecognized Tax Benefits Increases Decrease Resulting From Foreign Currency Translation
UnrecognizedTaxBenefitsIncreasesDecreaseResultingFromForeignCurrencyTranslation
33000
CY2011 mx Income Tax Reconciliation Derivative Assets Netting Adjustment
IncomeTaxReconciliationDerivativeAssetsNettingAdjustment
-6334000
CY2011 mx Inventory Valuation Reserves Period Increase Decrease
InventoryValuationReservesPeriodIncreaseDecrease
7311000
CY2011 mx Initial Public Offering Incentive
InitialPublicOfferingIncentive
12146000
CY2011 mx Payments For Guarantee Deposits
PaymentsForGuaranteeDeposits
2482000
CY2011 mx Foreign Currency Transaction Gain Loss Before Tax Including Intercompany Balances
ForeignCurrencyTransactionGainLossBeforeTaxIncludingIntercompanyBalances
-14835000
CY2011 mx Deferred Tax Assets Valuation Allowance Charged Net
DeferredTaxAssetsValuationAllowanceChargedNet
-20124000
CY2011 mx Proceeds From Guarantee Deposits
ProceedsFromGuaranteeDeposits
1544000
CY2011 mx Income Tax Reconciliation Permanent Impairment Adjustment Amount
IncomeTaxReconciliationPermanentImpairmentAdjustmentAmount
-5120000
CY2011 mx Income Tax Reconciliation Permanent Foreign Currency Gain Loss Amount
IncomeTaxReconciliationPermanentForeignCurrencyGainLossAmount
2439000
CY2011 mx Effective Income Tax Rate Reconciliation Other Permanant Adjustments Amount
EffectiveIncomeTaxRateReconciliationOtherPermanantAdjustmentsAmount
674000
CY2013 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.82
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013 dei Trading Symbol
TradingSymbol
MX
CY2013 us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
Three months or less
CY2013 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P5Y
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y3M18D
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.44
CY2013 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2014-12-12
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Registrant Name
EntityRegistrantName
MAGNACHIP SEMICONDUCTOR Corp
CY2013 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Impairment of Long-Lived Assets</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company reviews property, plant and equipment and other long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable in accordance with ASC&#xA0;360, &#x201C;Property, Plant and Equipment&#x201D; (&#x201C;ASC&#xA0;360&#x201D;). Recoverability is measured by comparing its carrying amount with the future net undiscounted cash flows the assets are expected to generate. If such assets are considered to be impaired, the impairment is measured as the difference between the carrying amount of the assets and the fair value of assets using the present value of the future net cash flows generated by the respective long-lived assets.</font></p> </div>
CY2013 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 us-gaap Lessor Leasing Arrangements Operating Leases Term Of Contract
LessorLeasingArrangementsOperatingLeasesTermOfContract
P20Y
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
68755000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y9M18D
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8360 shares
CY2013 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.50 pure
CY2013 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
7064000
CY2013 us-gaap Revenues
Revenues
734177000
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42483000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
455000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004 pure
CY2013 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
The standard limited warranty period is one year for the majority of products.
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in accordance with US&#xA0;GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, stock based compensation, property plant and equipment, intangible assets, other long-lived assets, long-term employee benefits, contingencies liabilities, and assumptions used in the calculation of income taxes and sales incentives, among others. Although these estimates and assumptions are based on management&#x2019;s best knowledge of current events and actions that the Company may undertake in the future, actual results may be significantly different from the estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods.</font></p> </div>
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segments
CY2013 us-gaap Lessor Leasing Arrangements Operating Leases Renewal Term
LessorLeasingArrangementsOperatingLeasesRenewalTerm
P10Y
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0.00 pure
CY2013 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.023 pure
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.89
CY2013 invest Investment Warrants Expiration Date
InvestmentWarrantsExpirationDate
2014-11-09
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35232194 shares
CY2013 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimate Of Time To Transfer1
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimateOfTimeToTransfer1
P12M
CY2013 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.82
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
17.08
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001325702
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.376 pure
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentration of Credit Risk</i></b></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px; TEXT-INDENT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company performs periodic credit evaluations of its customers&#x2019; financial condition and generally does not require collateral for customers on accounts receivable. The Company maintains reserves for potential credit losses, which are periodically reviewed.</font></p> </div>
CY2013 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-5624000
CY2013 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-33465000
CY2013 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
3964000
CY2013 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1470000
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
579476 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35232194 shares
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1746000
CY2013 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1917000
CY2013 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
800000
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-13727000
CY2013 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
304000
CY2013 us-gaap Gross Profit
GrossProfit
155068000
CY2013 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6267000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-54106000
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
229333000
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8608000
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-9593000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-60233000
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4546000
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-26768000
CY2013 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-20360000
CY2013 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
16837000
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-72811000
CY2013 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1818000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-60233000
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1690000
CY2013 us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
5000
CY2013 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
605000
CY2013 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-14000
CY2013 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
51000000
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2870000
CY2013 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1479000
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-64203000
CY2013 us-gaap Interest Paid
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1342000
CY2012 us-gaap Product Warranty Accrual Currency Translation Increase Decrease
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CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2012 us-gaap Lease And Rental Expense
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CY2012 mx Income Tax Reconciliation Thin Capitalization
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CY2012 mx Recognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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5000
CY2012 mx Income Tax Reconciliation Hybrid And Other Interest Income
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CY2012 mx Share Based Compensation Arrangement By Performance Units Weighted Average Remaining Contractual Term
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P7Y10M24D
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CY2012 mx Income Tax Reconciliation Withholding Taxes
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4242000
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25305000
CY2012 mx Income Tax Rate Reconciliation Change In Valuation Allowance
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21184000
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CY2012 mx Income Tax Reconciliation Derivative Assets Netting Adjustment
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-465000
CY2012 mx Effective Income Tax Rate Reconciliation Customs Penalty Adjustment Amount
EffectiveIncomeTaxRateReconciliationCustomsPenaltyAdjustmentAmount
742000
CY2012 mx Effective Income Tax Rate Reconciliation Other Permanant Adjustments Amount
EffectiveIncomeTaxRateReconciliationOtherPermanantAdjustmentsAmount
1556000
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35539413 shares
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35539413 shares
CY2013Q1 us-gaap Gross Profit
GrossProfit
58235000
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
13966000
CY2013Q1 us-gaap Revenues
Revenues
194322000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-17589000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38282932 shares
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37524127 shares
CY2012Q1 us-gaap Gross Profit
GrossProfit
45512000
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
9565000
CY2012Q1 us-gaap Revenues
Revenues
176049000
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
13361000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37517712 shares
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36713569 shares
CY2012Q2 us-gaap Gross Profit
GrossProfit
59900000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
20345000
CY2012Q2 us-gaap Revenues
Revenues
200989000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
2458000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35474001 shares
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35474001 shares
CY2013Q2 us-gaap Gross Profit
GrossProfit
45241000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2665000
CY2013Q2 us-gaap Revenues
Revenues
193533000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-24668000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37290612 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.30
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36199655 shares
CY2012Q3 us-gaap Gross Profit
GrossProfit
74649000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
32492000
CY2012Q3 us-gaap Revenues
Revenues
220881000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
47210000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37484601 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35443820 shares
CY2013Q3 us-gaap Gross Profit
GrossProfit
34413000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-10220000
CY2013Q3 us-gaap Revenues
Revenues
170812000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
251000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.27
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37050284 shares
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.31
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35845367 shares
CY2012Q4 us-gaap Gross Profit
GrossProfit
63186000
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
21913000
CY2012Q4 us-gaap Revenues
Revenues
209417000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
47009000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34480849 shares
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34480849 shares
CY2013Q4 us-gaap Gross Profit
GrossProfit
17179000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-33179000
CY2013Q4 us-gaap Revenues
Revenues
175510000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-22197000

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