2013 Q2 Form 10-Q Financial Statement

#000100075313000009 Filed on August 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $547.3M $519.3M
YoY Change 5.4% 9.8%
Cost Of Revenue $449.5M $432.0M
YoY Change 4.05% 11.03%
Gross Profit $97.75M $87.29M
YoY Change 11.97% 4.17%
Gross Profit Margin 17.86% 16.81%
Selling, General & Admin $82.30M $73.40M
YoY Change 12.13% 6.69%
% of Gross Profit 84.2% 84.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.300M $4.500M
YoY Change 17.78% 25.0%
% of Gross Profit 5.42% 5.15%
Operating Expenses $87.52M $77.88M
YoY Change 12.38% 7.57%
Operating Profit $10.23M $9.415M
YoY Change 8.64% -17.41%
Interest Expense $60.00K $156.0K
YoY Change -61.54% -48.0%
% of Operating Profit 0.59% 1.66%
Other Income/Expense, Net -$2.676M $20.00K
YoY Change -13480.0%
Pretax Income $7.612M $9.591M
YoY Change -20.63% -18.03%
Income Tax $4.124M $3.970M
% Of Pretax Income 54.18% 41.39%
Net Earnings $3.488M $5.621M
YoY Change -37.95% -16.1%
Net Earnings / Revenue 0.64% 1.08%
Basic Earnings Per Share $0.14 $0.22
Diluted Earnings Per Share $0.14 $0.22
COMMON SHARES
Basic Shares Outstanding 24.82M shares 25.10M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $231.2M $237.8M
YoY Change -2.78% -21.47%
Cash & Equivalents $178.5M $180.6M
Short-Term Investments $52.70M $57.20M
Other Short-Term Assets $9.384M $73.80M
YoY Change -87.28% -2.51%
Inventory
Prepaid Expenses
Receivables $2.743M $168.8M
Other Receivables $2.700M $7.600M
Total Short-Term Assets $510.3M $487.9M
YoY Change 4.59% -5.19%
LONG-TERM ASSETS
Property, Plant & Equipment $91.21M $93.50M
YoY Change -2.45% 15.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.085M $73.10M
YoY Change -97.15% 24.96%
Total Long-Term Assets $198.0M $194.2M
YoY Change 1.97% 14.98%
TOTAL ASSETS
Total Short-Term Assets $510.3M $487.9M
Total Long-Term Assets $198.0M $194.2M
Total Assets $708.3M $682.1M
YoY Change 3.84% -0.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.605M $2.900M
YoY Change -10.17% 20.83%
Accrued Expenses $14.42M $350.1M
YoY Change -95.88% -2.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $391.8M $354.4M
YoY Change 10.55% -2.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $66.90M $63.70M
YoY Change 5.02% 4.43%
Total Long-Term Liabilities $75.05M $63.70M
YoY Change 17.82% 4.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $391.8M $354.4M
Total Long-Term Liabilities $75.05M $63.70M
Total Liabilities $466.8M $429.5M
YoY Change 8.69% -0.67%
SHAREHOLDERS EQUITY
Retained Earnings $249.3M
YoY Change
Common Stock $134.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $142.5M
YoY Change
Treasury Stock Shares
Shareholders Equity $241.5M $252.5M
YoY Change
Total Liabilities & Shareholders Equity $708.3M $682.1M
YoY Change 3.84% -0.2%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $3.488M $5.621M
YoY Change -37.95% -16.1%
Depreciation, Depletion And Amortization $5.300M $4.500M
YoY Change 17.78% 25.0%
Cash From Operating Activities -$38.60M -$36.00M
YoY Change 7.22% 650.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.800M -$4.900M
YoY Change -22.45% -3.92%
Acquisitions
YoY Change
Other Investing Activities -$1.900M -$800.0K
YoY Change 137.5% -122.22%
Cash From Investing Activities -$5.700M -$5.700M
YoY Change 0.0% 280.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.600M -12.20M
YoY Change -62.3% 93.65%
NET CHANGE
Cash From Operating Activities -38.60M -36.00M
Cash From Investing Activities -5.700M -5.700M
Cash From Financing Activities -4.600M -12.20M
Net Change In Cash -48.90M -53.90M
YoY Change -9.28% 327.78%
FREE CASH FLOW
Cash From Operating Activities -$38.60M -$36.00M
Capital Expenditures -$3.800M -$4.900M
Free Cash Flow -$34.80M -$31.10M
YoY Change 11.9% -10466.67%

Facts In Submission

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SalesCommissionsAndFees
3506000 USD
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SalesCommissionsAndFees
6941000 USD
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StockholdersEquity
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StockholdersEquity
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TaxesPayableCurrent
39000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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TreasuryStockValue
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TreasuryStockValue
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-15122000 USD
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WeightedAverageNumberOfSharesOutstandingBasic
25095000 shares
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WeightedAverageNumberOfSharesOutstandingBasic
24820000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25091000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24858000 shares
CY2012Q4 us-gaap Workers Compensation Liability Current
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AccruedCorporatePayrollAndCommissionsEarned
17265000 USD
nsp Accrued Corporate Payroll Commissions And Other Accrued Liabilities
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-7515000 USD
nsp Accrued Corporate Payroll Commissions And Other Accrued Liabilities
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-2003000 USD
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AccruedHealthInsuranceCosts
5274000 USD
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150070000 USD
nsp Adjusted Weighted Average Common Shares Outstanding
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25157000 shares
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24844000 shares
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AdjustedWeightedAverageCommonSharesOutstanding
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nsp Adjusted Weighted Average Common Shares Outstanding
AdjustedWeightedAverageCommonSharesOutstanding
24885000 shares
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CashEquivalentsAndMarketableSecuritiesAtCarryingValue
225179000 USD
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CashEquivalentsAndMarketableSecuritiesAtCarryingValue
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16180000 USD
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NetIncomeLossAvailableToCommonShareholdersBasic
18941000 USD
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NetIncomeLossAvailableToCommonShareholdersBasic
3364000 USD
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P90D
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1200000 USD
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0 USD
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117300000 USD
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PercentageOfRevenuesFromCompanyCaliforniaMarkets
0.17
nsp Percentage Of Revenues From Company California Markets
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0.18
nsp Percentage Of Revenues From Company Texas Markets
PercentageOfRevenuesFromCompanyTexasMarkets
0.25
nsp Percentage Of Revenues From Company Texas Markets
PercentageOfRevenuesFromCompanyTexasMarkets
0.26
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PremiumsOwedToUnited
1900000 USD
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CashHeldInDemandAccounts
18313000 USD
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ComputerHardwareAndSoftware
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ComputerHardwareAndSoftware
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6700000 USD
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6500000 USD
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CY2012Q4 nsp Goodwill And Other Intangible Assets Net
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22775000 USD
CY2013Q2 nsp Gross Billings
GrossBillings
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nsp Gross Billings
GrossBillings
6499000000 USD
nsp Gross Billings
GrossBillings
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GrossBillings
3039000000 USD
nsp Increase Decrease In Restricted Cash Net From Acquisitions
IncreaseDecreaseInRestrictedCashNetFromAcquisitions
-157000 USD
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IncreaseDecreaseInRestrictedCashNetFromAcquisitions
318000 USD
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IncrementalSharesFromAssumedConversionsOfCommonStockOptions
66000 shares
nsp Incremental Shares From Assumed Conversions Of Common Stock Options
IncrementalSharesFromAssumedConversionsOfCommonStockOptions
27000 shares
CY2012Q2 nsp Incremental Shares From Assumed Conversions Of Common Stock Options
IncrementalSharesFromAssumedConversionsOfCommonStockOptions
60000 shares
CY2013Q2 nsp Incremental Shares From Assumed Conversions Of Common Stock Options
IncrementalSharesFromAssumedConversionsOfCommonStockOptions
24000 shares
nsp Marketable Securities Proceeds From Dispositions
MarketableSecuritiesProceedsFromDispositions
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nsp Marketable Securities Proceeds From Dispositions
MarketableSecuritiesProceedsFromDispositions
4564000 USD
CY2012Q4 nsp Money Market Funds Overnight Holdings At Carrying Value
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CY2012Q2 nsp Net Income Loss Available To Common Shareholders Basic
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PrepaidHealthInsuranceNoncurrent
9000000 USD
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PrepaidHealthInsuranceNoncurrent
9000000 USD
CY2013Q2 nsp Required Deposit For Health Care Costs
RequiredDepositForHealthCareCosts
2800000 USD
nsp Return Of Excess Claim Funds
ReturnOfExcessClaimFunds
2500000 USD
nsp Return Of Excess Claim Funds
ReturnOfExcessClaimFunds
0 USD
CY2013Q2 nsp Salaries Wages And Payroll Taxes
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45689000 USD
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SalariesWagesAndPayrollTaxes
40047000 USD
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SalariesWagesAndPayrollTaxes
93900000 USD
nsp Salaries Wages And Payroll Taxes
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83370000 USD
CY2013Q2 nsp Software Development Costs
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SoftwareDevelopmentCosts
35866000 USD
nsp Time Period Estimate Of Incurred Claim Costs To Be Paid Included In Long Term Liabilities
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P1Y
nsp Time Period Incurred Claims Expected To Be Paid Included In Deposits
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Greater than 1 year
nsp Time Period Incurred Claims Expected To Be Paid Recorded As Restricted
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P1Y
CY2012Q4 nsp Total Cash Cash Equivalents And Marketable Securities
TotalCashCashEquivalentsAndMarketableSecurities
281448000 USD
CY2013Q2 nsp Total Cash Cash Equivalents And Marketable Securities
TotalCashCashEquivalentsAndMarketableSecurities
231179000 USD
nsp Treasury Stock Acquired
TreasuryStockAcquired
11741000 USD
nsp Treasury Stock Acquired
TreasuryStockAcquired
15122000 USD
nsp Us Treasury Rates That Correspond With Weighted Average Estimated Claim Payout Period
USTreasuryRatesThatCorrespondWithWeightedAverageEstimatedClaimPayoutPeriod
0.005
nsp Us Treasury Rates That Correspond With Weighted Average Estimated Claim Payout Period
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0.008
CY2012Q4 nsp Unbilled
Unbilled
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Unbilled
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nsp Undiscounted Accrued Workers Compensation Costs
UndiscountedAccruedWorkersCompensationCosts
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nsp Undiscounted Accrued Workers Compensation Costs
UndiscountedAccruedWorkersCompensationCosts
120900000 USD
CY2013Q2 nsp Workers Compensation Administrative Fees Accrued
WorkersCompensationAdministrativeFeesAccrued
2800000 USD
nsp Workers Compensation Claims Paid
WorkersCompensationClaimsPaid
-15179000 USD
nsp Workers Compensation Claims Paid
WorkersCompensationClaimsPaid
-16199000 USD
nsp Workers Compensation Discount Changed During Period
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-345000 USD
nsp Workers Compensation Discount Changed During Period
WorkersCompensationDiscountChangedDuringPeriod
-532000 USD
nsp Workers Compensation Expense
WorkersCompensationExpense
19164000 USD
nsp Workers Compensation Expense
WorkersCompensationExpense
19194000 USD
CY2013Q2 nsp Workers Compensation Liability Current Net
WorkersCompensationLiabilityCurrentNet
47467000 USD
CY2012Q2 nsp Workers Compensation Liability Current Net
WorkersCompensationLiabilityCurrentNet
44580000 USD
CY2010Q4 nsp Workers Compensation Maximum Aggregate Economic Burden For Claims In Excess Of First Layer Cap Per Policy Year
WorkersCompensationMaximumAggregateEconomicBurdenForClaimsInExcessOfFirstLayerCapPerPolicyYear
5000000 USD
CY2010Q3 nsp Workers Compensation Maximum Economic Burden First Layer Of Claims Per Occurrence
WorkersCompensationMaximumEconomicBurdenFirstLayerOfClaimsPerOccurrence
1000000 USD
CY2010Q4 nsp Workers Compensation Maximum Economic Burden First Layer Of Claims Per Occurrence
WorkersCompensationMaximumEconomicBurdenFirstLayerOfClaimsPerOccurrence
1000000 USD
CY2012Q2 nsp Worksite Employee Payroll Cost
WorksiteEmployeePayrollCost
2520000000 USD
nsp Worksite Employee Payroll Cost
WorksiteEmployeePayrollCost
5340000000 USD
nsp Worksite Employee Payroll Cost
WorksiteEmployeePayrollCost
5156000000 USD
CY2013Q2 nsp Worksite Employee Payroll Cost
WorksiteEmployeePayrollCost
2620000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001000753
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25611985 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
INSPERITY, INC.
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

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