2020 Q1 Form 10-Q Financial Statement

#000100075320000025 Filed on May 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1 2018 Q3
Revenue $1.229B $1.153B $925.1M
YoY Change 6.63% 13.67% 16.29%
Cost Of Revenue $995.5M $926.3M $759.1M
YoY Change 7.47% 13.7% 15.8%
Gross Profit $234.0M $226.7M $166.1M
YoY Change 3.22% 13.52% 18.64%
Gross Profit Margin 19.03% 19.66% 17.95%
Selling, General & Admin $141.2M $134.6M $112.3M
YoY Change 4.9% 3.7% 6.45%
% of Gross Profit 60.34% 59.37% 67.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.600M $6.700M $5.600M
YoY Change 13.43% 28.85% 19.15%
% of Gross Profit 3.25% 2.96% 3.37%
Operating Expenses $148.8M $141.3M $117.9M
YoY Change 5.34% 4.62% 7.04%
Operating Profit $85.22M $85.46M $48.13M
YoY Change -0.28% 32.08% 61.53%
Interest Expense $2.362M $1.681M $1.174M
YoY Change 40.51% 57.1% 31.32%
% of Operating Profit 2.77% 1.97% 2.44%
Other Income/Expense, Net
YoY Change
Pretax Income $84.74M $87.03M $48.99M
YoY Change -2.63% 33.7% 63.73%
Income Tax $22.65M $10.74M $12.78M
% Of Pretax Income 26.72% 12.34% 26.09%
Net Earnings $62.09M $76.29M $36.21M
YoY Change -18.61% 52.61% 88.56%
Net Earnings / Revenue 5.05% 6.62% 3.91%
Basic Earnings Per Share $1.59 $1.86 $0.86
Diluted Earnings Per Share $1.58 $1.85 $0.86
COMMON SHARES
Basic Shares Outstanding 38.80M shares 40.51M shares 41.33M shares
Diluted Shares Outstanding 39.07M shares 40.65M shares 41.55M shares

Balance Sheet

Concept 2020 Q1 2019 Q1 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $424.2M $452.5M $365.9M
YoY Change -6.25% 26.89% 27.09%
Cash & Equivalents $404.7M $398.9M $398.9M
Short-Term Investments $19.50M $53.60M $37.60M
Other Short-Term Assets $40.43M $36.62M $24.27M
YoY Change 10.4% 29.0% 26.03%
Inventory
Prepaid Expenses
Receivables $520.7M $421.3M $3.402M
Other Receivables $0.00 $0.00 $4.500M
Total Short-Term Assets $1.079B $980.1M $846.2M
YoY Change 10.12% 22.36% 26.1%
LONG-TERM ASSETS
Property, Plant & Equipment $160.3M $116.1M $100.7M
YoY Change 38.03% 19.65% 7.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.010M $5.534M $5.663M
YoY Change 8.6% 0.38% 26.29%
Total Long-Term Assets $443.1M $370.9M $290.5M
YoY Change 19.47% 27.7% 5.13%
TOTAL ASSETS
Total Short-Term Assets $1.079B $980.1M $846.2M
Total Long-Term Assets $443.1M $370.9M $290.5M
Total Assets $1.522B $1.351B $1.137B
YoY Change 12.69% 23.78% 19.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.240M $7.854M $5.316M
YoY Change -20.55% 42.36% 73.16%
Accrued Expenses $51.73M $49.24M $24.60M
YoY Change 5.05% 77.8% 17.95%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $888.5M $850.4M $697.3M
YoY Change 4.48% 19.84% 20.35%
LONG-TERM LIABILITIES
Long-Term Debt $369.4M $144.4M $104.4M
YoY Change 155.82% 38.31% 0.0%
Other Long-Term Liabilities $259.3M $0.00 $183.1M
YoY Change -100.0% 13.23%
Total Long-Term Liabilities $637.3M $381.4M $287.5M
YoY Change 67.09% 36.7% 8.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $888.5M $850.4M $697.3M
Total Long-Term Liabilities $637.3M $381.4M $287.5M
Total Liabilities $1.526B $1.232B $984.8M
YoY Change 23.86% 24.59% 16.48%
SHAREHOLDERS EQUITY
Retained Earnings $545.3M $460.9M $381.5M
YoY Change 18.31% 36.55% 15.9%
Common Stock $46.88M $34.39M $32.60M
YoY Change 36.33% 48.2% 57.38%
Preferred Stock
YoY Change
Treasury Stock (at cost) $595.5M $376.1M $262.2M
YoY Change 58.33% 45.83% 5.74%
Treasury Stock Shares
Shareholders Equity -$3.310M $119.2M $151.9M
YoY Change
Total Liabilities & Shareholders Equity $1.522B $1.351B $1.137B
YoY Change 12.69% 23.78% 19.98%

Cashflow Statement

Concept 2020 Q1 2019 Q1 2018 Q3
OPERATING ACTIVITIES
Net Income $62.09M $76.29M $36.21M
YoY Change -18.61% 52.61% 88.56%
Depreciation, Depletion And Amortization $7.600M $6.700M $5.600M
YoY Change 13.43% 28.85% 19.15%
Cash From Operating Activities $23.79M $117.7M $53.00M
YoY Change -79.79% 289.8% 25.0%
INVESTING ACTIVITIES
Capital Expenditures $15.63M $5.608M -$7.500M
YoY Change 178.62% -14.84% 31.58%
Acquisitions
YoY Change
Other Investing Activities $15.30M $7.300M -$30.50M
YoY Change 109.59% 30400.0%
Cash From Investing Activities -$314.0K $1.713M -$38.00M
YoY Change -118.33% -126.07% 555.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $25.60M -$40.34M -7.900M
YoY Change -163.47% -342.77% 5.33%
NET CHANGE
Cash From Operating Activities $23.79M $117.7M 53.00M
Cash From Investing Activities -$314.0K $1.713M -38.00M
Cash From Financing Activities $25.60M -$40.34M -7.900M
Net Change In Cash $49.08M $79.07M 7.100M
YoY Change -37.94% 96.51% -75.6%
FREE CASH FLOW
Cash From Operating Activities $23.79M $117.7M $53.00M
Capital Expenditures $15.63M $5.608M -$7.500M
Free Cash Flow $8.162M $112.1M $60.50M
YoY Change -92.72% 374.77% 25.78%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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10100000 USD
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BenefitsCostsIncurredReducedRelatedtoRunoff
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PayrollWithholdingsIncludedInCashBalance
234600000 USD
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CY2020Q1 us-gaap Us Government Securities At Carrying Value
USGovernmentSecuritiesAtCarryingValue
18060000 USD
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USGovernmentSecuritiesAtCarryingValue
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CY2020Q1 us-gaap Investments Fair Value Disclosure
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AvailableForSaleSecuritiesAmortizedCost
19412000 USD
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96000 USD
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AvailableForSaleSecurities
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13000 USD
CY2019 us-gaap Available For Sale Securities Gross Unrealized Loss
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CY2020Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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19508000 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
0 USD
CY2020Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 USD
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500000000 USD
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550000000 USD
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0.65
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1000000.0 USD
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0.0050
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0.0200
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0.0025
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878305 shares
CY2020Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1000000 shares
CY2020Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
728000 shares
CY2020Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
685833 shares
CY2020Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
150305 shares
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.40
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2020Q1 us-gaap Dividends
Dividends
15600000 USD
CY2019Q1 us-gaap Dividends
Dividends
12400000 USD
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
142000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39068000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40650000 shares
CY2020Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
146000000 USD
CY2020Q1 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
0 USD
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NetIncomeLoss
62092000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
76289000 USD
CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
462000 USD
CY2019Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
1031000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61630000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
75258000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38802000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40508000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
266000 shares

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