2018 Q2 Form 10-Q Financial Statement

#000100075318000053 Filed on August 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $922.3M $795.6M
YoY Change 15.93% 12.47%
Cost Of Revenue $767.8M $665.0M
YoY Change 15.46% 11.93%
Gross Profit $154.5M $130.6M
YoY Change 18.38% 15.27%
Gross Profit Margin 16.76% 16.41%
Selling, General & Admin $115.5M $103.2M
YoY Change 11.92% 10.85%
% of Gross Profit 74.74% 79.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.500M $4.400M
YoY Change 25.0% 7.32%
% of Gross Profit 3.56% 3.37%
Operating Expenses $121.0M $107.6M
YoY Change 12.4% 10.67%
Operating Profit $33.58M $22.94M
YoY Change 46.4% 43.16%
Interest Expense $1.108M $803.0K
YoY Change 37.98% 23.54%
% of Operating Profit 3.3% 3.5%
Other Income/Expense, Net
YoY Change
Pretax Income $34.28M $22.81M
YoY Change 50.27% 45.62%
Income Tax $9.720M $8.795M
% Of Pretax Income 28.35% 38.55%
Net Earnings $24.56M $14.02M
YoY Change 75.2% 44.32%
Net Earnings / Revenue 2.66% 1.76%
Basic Earnings Per Share $0.59 $0.34
Diluted Earnings Per Share $0.58 $0.33
COMMON SHARES
Basic Shares Outstanding 41.38M shares 41.26M shares
Diluted Shares Outstanding 41.53M shares 41.48M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $315.9M $243.8M
YoY Change 29.57% -10.86%
Cash & Equivalents $308.7M $241.9M
Short-Term Investments $7.200M $1.900M
Other Short-Term Assets $22.64M $17.99M
YoY Change 25.83% -3.02%
Inventory
Prepaid Expenses
Receivables $4.066M $2.775M
Other Receivables $3.000M $10.40M
Total Short-Term Assets $749.8M $599.0M
YoY Change 25.17% -2.04%
LONG-TERM ASSETS
Property, Plant & Equipment $99.03M $92.66M
YoY Change 6.87% 36.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.533M $3.650M
YoY Change 51.59% 81.41%
Total Long-Term Assets $301.3M $286.9M
YoY Change 5.03% 22.06%
TOTAL ASSETS
Total Short-Term Assets $749.8M $599.0M
Total Long-Term Assets $301.3M $286.9M
Total Assets $1.051B $885.9M
YoY Change 18.65% 4.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.123M $3.132M
YoY Change 31.64% -11.68%
Accrued Expenses $24.09M $22.66M
YoY Change 6.34% -8.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $654.8M $543.4M
YoY Change 20.51% 0.34%
LONG-TERM LIABILITIES
Long-Term Debt $104.4M $104.4M
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $174.0M $154.4M
YoY Change 12.69% 13.78%
Total Long-Term Liabilities $278.4M $258.8M
YoY Change 7.57% 7.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $654.8M $543.4M
Total Long-Term Liabilities $278.4M $258.8M
Total Liabilities $933.2M $802.2M
YoY Change 16.33% 2.63%
SHAREHOLDERS EQUITY
Retained Earnings $353.7M $316.2M
YoY Change 11.85% 19.25%
Common Stock $27.92M $15.74M
YoY Change 77.38% 234.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $263.8M $248.3M
YoY Change 6.24% 21.09%
Treasury Stock Shares
Shareholders Equity $117.9M $83.70M
YoY Change
Total Liabilities & Shareholders Equity $1.051B $885.9M
YoY Change 18.65% 4.65%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $24.56M $14.02M
YoY Change 75.2% 44.32%
Depreciation, Depletion And Amortization $5.500M $4.400M
YoY Change 25.0% 7.32%
Cash From Operating Activities -$12.90M -$17.50M
YoY Change -26.29% -49.28%
INVESTING ACTIVITIES
Capital Expenditures -$7.400M -$9.200M
YoY Change -19.57% 19.48%
Acquisitions
YoY Change
Other Investing Activities -$5.300M -$100.0K
YoY Change 5200.0% 0.0%
Cash From Investing Activities -$12.70M -$9.300M
YoY Change 36.56% 19.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.30M -22.00M
YoY Change -30.45% 348.98%
NET CHANGE
Cash From Operating Activities -12.90M -17.50M
Cash From Investing Activities -12.70M -9.300M
Cash From Financing Activities -15.30M -22.00M
Net Change In Cash -40.90M -48.80M
YoY Change -16.19% 3.39%
FREE CASH FLOW
Cash From Operating Activities -$12.90M -$17.50M
Capital Expenditures -$7.400M -$9.200M
Free Cash Flow -$5.500M -$8.300M
YoY Change -33.73% -69.03%

Facts In Submission

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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
99369000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
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8795000 USD
CY2018Q2 us-gaap Income Taxes Receivable
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0 USD
us-gaap Increase Decrease In Accounts Payable Trade
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-1057000 USD
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IncreaseDecreaseInAccountsPayableTrade
-2324000 USD
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-8715000 USD
us-gaap Increase Decrease In Accounts Receivable
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17773000 USD
us-gaap Increase Decrease In Accrued Salaries
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13342000 USD
us-gaap Increase Decrease In Accrued Salaries
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28194000 USD
us-gaap Increase Decrease In Health Care Insurance Liabilities
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219000 USD
us-gaap Increase Decrease In Health Care Insurance Liabilities
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-1948000 USD
us-gaap Increase Decrease In Income Taxes
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-1929000 USD
us-gaap Increase Decrease In Income Taxes
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16808000 USD
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-1533000 USD
us-gaap Increase Decrease In Other Current Assets
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-4351000 USD
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-57826000 USD
us-gaap Increase Decrease In Other Employee Related Liabilities
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-89815000 USD
us-gaap Increase Decrease In Other Operating Assets
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2375000 USD
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0.0359
us-gaap Increase Decrease In Prepaid Expense
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12029000 USD
us-gaap Increase Decrease In Prepaid Expense
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6866000 USD
us-gaap Increase Decrease In Workers Compensation Liabilities
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12832000 USD
us-gaap Increase Decrease In Workers Compensation Liabilities
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9926000 USD
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
217000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
210000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
156000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
324000 shares
CY2017Q2 us-gaap Interest Expense
InterestExpense
803000 USD
us-gaap Interest Expense
InterestExpense
1426000 USD
CY2018Q2 us-gaap Interest Expense
InterestExpense
1108000 USD
us-gaap Interest Expense
InterestExpense
2178000 USD
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678000 USD
us-gaap Interest Income Other
InterestIncomeOther
1143000 USD
CY2018Q2 us-gaap Interest Income Other
InterestIncomeOther
1807000 USD
us-gaap Interest Income Other
InterestIncomeOther
3263000 USD
CY2017Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
1960000 USD
CY2018Q2 us-gaap Investments Fair Value Disclosure
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7207000 USD
CY2017Q4 us-gaap Land
Land
6215000 USD
CY2018Q2 us-gaap Land
Land
6215000 USD
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1000000 USD
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1063695000 USD
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LiabilitiesAndStockholdersEquity
1051068000 USD
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726481000 USD
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654791000 USD
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270893000 USD
CY2018Q2 us-gaap Liabilities Noncurrent
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278417000 USD
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350000000 USD
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LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
CY2018Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
244600000 USD
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LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0025
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2018Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
104400000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
0 USD
CY2017Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
1960000 USD
CY2018Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
7207000 USD
CY2017Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
22634000 USD
CY2018Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
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-36277000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
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-20916000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19310000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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26027000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17289000 USD
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NetIncomeLoss
14018000 USD
us-gaap Net Income Loss
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49646000 USD
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248000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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909000 USD
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NetIncomeLoss
24560000 USD
us-gaap Net Income Loss
NetIncomeLoss
74551000 USD
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13770000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
48737000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24214000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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73487000 USD
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OperatingExpenses
107615000 USD
us-gaap Operating Expenses
OperatingExpenses
213469000 USD
CY2018Q2 us-gaap Operating Expenses
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120963000 USD
us-gaap Operating Expenses
OperatingExpenses
255980000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22938000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
76430000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
33581000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
98284000 USD
CY2017Q4 us-gaap Other Assets
OtherAssets
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CY2018Q2 us-gaap Other Assets
OtherAssets
202253000 USD
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OtherAssetsCurrent
22640000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3541000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
5533000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
4000 USD
CY2017Q4 us-gaap Other Receivables
OtherReceivables
3258000 USD
CY2018Q2 us-gaap Other Receivables
OtherReceivables
3003000 USD
CY2018Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
346000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1064000 USD
us-gaap Payments Of Dividends Common Stock
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11579000 USD
us-gaap Payments Of Dividends Common Stock
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16786000 USD
us-gaap Payments To Acquire Marketable Securities
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919000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
11849000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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20802000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14025000 USD
CY2017Q4 us-gaap Prepaid Insurance
PrepaidInsurance
10782000 USD
CY2018Q2 us-gaap Prepaid Insurance
PrepaidInsurance
17648000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
830000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1110000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
805000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
1125000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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310349000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
323163000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
95659000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
99028000 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
RestrictedCashAndCashEquivalentsAtCarryingValue
41703000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
41137000 USD
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
41827000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
296792000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
353706000 USD
CY2017Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
5664000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
10140000 USD
CY2018Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
6979000 USD
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
13045000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
795552000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1678216000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
922295000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1936667000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
131876 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2018Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
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2597564 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
66321000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
117860000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-1110000 USD
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TaxesPayableCurrent
0 USD
CY2018Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
6984000 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
80000 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
256363000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
263764000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
-16227000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41475000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41404000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41533000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41625000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41258000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41194000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41377000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41301000 shares
CY2017Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
42974000 USD
CY2018Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
45376000 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
CY2017Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
207630000 USD
CY2018Q2 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
215844000 USD
CY2017Q2 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
154415000 USD
CY2017Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
166493000 USD
CY2018Q2 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
174017000 USD

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