2017 Q2 Form 10-Q Financial Statement

#000100075317000052 Filed on August 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $795.6M $707.3M
YoY Change 12.47% 12.66%
Cost Of Revenue $665.0M $594.1M
YoY Change 11.93% 13.46%
Gross Profit $130.6M $113.3M
YoY Change 15.27% 8.67%
Gross Profit Margin 16.41% 16.01%
Selling, General & Admin $103.2M $93.10M
YoY Change 10.85% 8.13%
% of Gross Profit 79.05% 82.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.400M $4.100M
YoY Change 7.32% -10.87%
% of Gross Profit 3.37% 3.62%
Operating Expenses $107.6M $97.24M
YoY Change 10.67% 5.69%
Operating Profit $22.94M $16.02M
YoY Change 43.16% 31.15%
Interest Expense $803.0K $650.0K
YoY Change 23.54% 424.19%
% of Operating Profit 3.5% 4.06%
Other Income/Expense, Net
YoY Change
Pretax Income $22.81M $15.67M
YoY Change 45.62% 28.65%
Income Tax $8.795M $5.953M
% Of Pretax Income 38.55% 38.0%
Net Earnings $14.02M $9.713M
YoY Change 44.32% 32.8%
Net Earnings / Revenue 1.76% 1.37%
Basic Earnings Per Share $0.34 $0.23
Diluted Earnings Per Share $0.33 $0.23
COMMON SHARES
Basic Shares Outstanding 41.26M shares 20.87M shares
Diluted Shares Outstanding 41.48M shares 20.88M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $243.8M $273.5M
YoY Change -10.86% 44.4%
Cash & Equivalents $241.9M $271.6M
Short-Term Investments $1.900M $1.900M
Other Short-Term Assets $17.99M $18.55M
YoY Change -3.02% 19.53%
Inventory
Prepaid Expenses
Receivables $2.775M $3.977M
Other Receivables $10.40M $11.30M
Total Short-Term Assets $599.0M $611.5M
YoY Change -2.04% 10.86%
LONG-TERM ASSETS
Property, Plant & Equipment $92.66M $67.67M
YoY Change 36.92% 16.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.650M $2.012M
YoY Change 81.41% 13.48%
Total Long-Term Assets $286.9M $235.0M
YoY Change 22.06% 16.66%
TOTAL ASSETS
Total Short-Term Assets $599.0M $611.5M
Total Long-Term Assets $286.9M $235.0M
Total Assets $885.9M $846.5M
YoY Change 4.65% 12.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.132M $3.546M
YoY Change -11.68% 48.8%
Accrued Expenses $22.66M $24.82M
YoY Change -8.72% 0.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $543.4M $541.5M
YoY Change 0.34% 17.02%
LONG-TERM LIABILITIES
Long-Term Debt $104.4M $104.4M
YoY Change 0.0%
Other Long-Term Liabilities $154.4M $135.7M
YoY Change 13.78% 37.21%
Total Long-Term Liabilities $258.8M $240.1M
YoY Change 7.8% 142.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $543.4M $541.5M
Total Long-Term Liabilities $258.8M $240.1M
Total Liabilities $802.2M $781.6M
YoY Change 2.63% 39.15%
SHAREHOLDERS EQUITY
Retained Earnings $316.2M $265.2M
YoY Change 19.25% 17.77%
Common Stock $15.74M $4.705M
YoY Change 234.52% -96.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $248.3M $205.0M
YoY Change 21.09% 15.95%
Treasury Stock Shares
Shareholders Equity $83.70M $64.87M
YoY Change
Total Liabilities & Shareholders Equity $885.9M $846.5M
YoY Change 4.65% 12.41%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $14.02M $9.713M
YoY Change 44.32% 32.8%
Depreciation, Depletion And Amortization $4.400M $4.100M
YoY Change 7.32% -10.87%
Cash From Operating Activities -$17.50M -$34.50M
YoY Change -49.28% 2.99%
INVESTING ACTIVITIES
Capital Expenditures -$9.200M -$7.700M
YoY Change 19.48% 120.0%
Acquisitions
YoY Change
Other Investing Activities -$100.0K -$100.0K
YoY Change 0.0% -101.47%
Cash From Investing Activities -$9.300M -$7.800M
YoY Change 19.23% -329.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.00M -4.900M
YoY Change 348.98% -84.04%
NET CHANGE
Cash From Operating Activities -17.50M -34.50M
Cash From Investing Activities -9.300M -7.800M
Cash From Financing Activities -22.00M -4.900M
Net Change In Cash -48.80M -47.20M
YoY Change 3.39% -22.37%
FREE CASH FLOW
Cash From Operating Activities -$17.50M -$34.50M
Capital Expenditures -$9.200M -$7.700M
Free Cash Flow -$8.300M -$26.80M
YoY Change -69.03% -10.67%

Facts In Submission

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us-gaap Income Tax Expense Benefit
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CY2016Q4 us-gaap Income Taxes Receivable
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CY2017Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
6878000 USD
us-gaap Increase Decrease In Accounts Payable Trade
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-1835000 USD
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1057000 USD
us-gaap Increase Decrease In Accounts Receivable
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44347000 USD
us-gaap Increase Decrease In Accounts Receivable
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-8715000 USD
us-gaap Increase Decrease In Accrued Salaries
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115459000 USD
us-gaap Increase Decrease In Accrued Salaries
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13342000 USD
us-gaap Increase Decrease In Health Care Insurance Liabilities
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13277000 USD
us-gaap Increase Decrease In Income Taxes
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-9661000 USD
us-gaap Increase Decrease In Income Taxes
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-1929000 USD
us-gaap Increase Decrease In Other Current Assets
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1419000 USD
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-1533000 USD
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-64180000 USD
us-gaap Increase Decrease In Other Employee Related Liabilities
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-57826000 USD
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-4156000 USD
us-gaap Increase Decrease In Other Operating Assets
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16287000 USD
us-gaap Increase Decrease In Prepaid Expense
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19128000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
12029000 USD
us-gaap Increase Decrease In Workers Compensation Liabilities
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15176000 USD
us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
12832000 USD
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
15000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
10000 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
109000 shares
CY2016Q2 us-gaap Interest Expense
InterestExpense
650000 USD
us-gaap Interest Expense
InterestExpense
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CY2017Q2 us-gaap Interest Expense
InterestExpense
803000 USD
us-gaap Interest Expense
InterestExpense
1426000 USD
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293000 USD
us-gaap Interest Income Other
InterestIncomeOther
592000 USD
CY2017Q2 us-gaap Interest Income Other
InterestIncomeOther
678000 USD
us-gaap Interest Income Other
InterestIncomeOther
1143000 USD
CY2016Q4 us-gaap Investments Fair Value Disclosure
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1851000 USD
CY2017Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1929000 USD
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Land
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CY2017Q2 us-gaap Land
Land
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LettersOfCreditOutstandingAmount
1000000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
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CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2017Q2 us-gaap Liabilities Current
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543370000 USD
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LiabilitiesNoncurrent
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258815000 USD
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LineOfCreditFacilityCurrentBorrowingCapacity
200000000 USD
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LineOfCreditFacilityInterestRateDuringPeriod
0.0278
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LineOfCreditFacilityMaximumBorrowingCapacity
250000000 USD
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LineOfCreditFacilityRemainingBorrowingCapacity
94600000 USD
us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0025
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
104400000 USD
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LongTermDebtNoncurrent
104400000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
0 USD
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MarketableSecuritiesCurrent
1851000 USD
CY2017Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
1929000 USD
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MoneyMarketFundsAtCarryingValue
28231000 USD
CY2017Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
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NetCashProvidedByUsedInFinancingActivities
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NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInOperatingActivities
60666000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13049000 USD
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NetIncomeLoss
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NetIncomeLoss
42406000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
14018000 USD
us-gaap Net Income Loss
NetIncomeLoss
49646000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9484000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
41444000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13770000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48737000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
97236000 USD
us-gaap Operating Expenses
OperatingExpenses
194209000 USD
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
107615000 USD
us-gaap Operating Expenses
OperatingExpenses
213469000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
16023000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
69066000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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OtherAssets
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CY2017Q2 us-gaap Other Assets
OtherAssets
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CY2016Q4 us-gaap Other Assets Current
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19526000 USD
CY2017Q2 us-gaap Other Assets Current
OtherAssetsCurrent
17993000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
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1840000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3650000 USD
CY2016Q4 us-gaap Other Receivables
OtherReceivables
2178000 USD
CY2017Q2 us-gaap Other Receivables
OtherReceivables
3610000 USD
CY2016Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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229000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
962000 USD
CY2017Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
248000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
909000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
144263000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends Common Stock
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9997000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11579000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
310000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
919000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12647000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20802000 USD
CY2016Q4 us-gaap Prepaid Insurance
PrepaidInsurance
15041000 USD
CY2017Q2 us-gaap Prepaid Insurance
PrepaidInsurance
27070000 USD
us-gaap Proceeds From Bank Debt
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124400000 USD
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283115000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
299946000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80261000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
92658000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
20000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
42637000 USD
CY2017Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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41703000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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278160000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
316230000 USD
CY2016Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
4335000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
8616000 USD
CY2017Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
5664000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
10140000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
707332000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1509740000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
795552000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1678216000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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86416 shares
CY2017Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
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896782 shares
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
60525000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
83703000 USD
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StockholdersEquityOther
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us-gaap Treasury Stock Shares Acquired
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CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
227152000 USD
CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
248266000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
-25528000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20884000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20982000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20738000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20702000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20869000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20972000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20629000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20597000 shares
CY2016Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
44231000 USD
CY2017Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
43939000 USD
CY2015Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
162184000 USD
CY2016Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
176917000 USD
CY2016Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
183928000 USD
CY2017Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
196118000 USD
CY2016Q2 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
135681000 USD
CY2016Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
141291000 USD
CY2017Q2 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
154415000 USD

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