2013 Q1 Form 10-K Financial Statement

#000119312513235038 Filed on May 24, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1 2011 Q4
Revenue $98.08M $89.46M $83.30M
YoY Change 9.63% 14.69% 9.17%
Cost Of Revenue $21.00M $19.00M $17.24M
YoY Change 10.53% 15.85% 7.07%
Gross Profit $77.04M $70.50M $66.06M
YoY Change 9.27% 14.45% 9.73%
Gross Profit Margin 78.55% 78.81% 79.3%
Selling, General & Admin $37.50M $35.80M $34.08M
YoY Change 4.75% 7.51% 2.04%
% of Gross Profit 48.68% 50.78% 51.59%
Research & Development $16.90M $13.40M $13.59M
YoY Change 26.12% 22.94% 34.58%
% of Gross Profit 21.94% 19.01% 20.58%
Depreciation & Amortization $3.700M $4.400M $4.200M
YoY Change -15.91% 25.71% 20.0%
% of Gross Profit 4.8% 6.24% 6.36%
Operating Expenses $55.20M $49.80M $48.61M
YoY Change 10.84% 11.66% 10.48%
Operating Profit $21.84M $20.70M $17.45M
YoY Change 5.48% 21.78% 7.69%
Interest Expense -$100.0K -$200.0K $472.0K
YoY Change -50.0% -60.0% -218.0%
% of Operating Profit -0.46% -0.97% 2.71%
Other Income/Expense, Net -$100.0K -$100.0K -$1.208M
YoY Change 0.0%
Pretax Income $21.60M $20.10M $16.24M
YoY Change 7.46% 21.82% 2.13%
Income Tax $7.100M $7.200M $6.207M
% Of Pretax Income 32.87% 35.82% 38.23%
Net Earnings $14.55M $12.95M $10.03M
YoY Change 12.4% 19.88% -9.63%
Net Earnings / Revenue 14.84% 14.47% 12.04%
Basic Earnings Per Share $0.24
Diluted Earnings Per Share $0.34 $0.30 $0.24
COMMON SHARES
Basic Shares Outstanding 41.61M shares 41.52M shares
Diluted Shares Outstanding 42.30M shares

Balance Sheet

Concept 2013 Q1 2012 Q1 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $137.3M $196.9M $163.9M
YoY Change -30.27% -1.84% -11.83%
Cash & Equivalents $99.93M $117.3M $102.8M
Short-Term Investments $37.30M $79.60M $61.20M
Other Short-Term Assets $18.60M $10.40M $9.300M
YoY Change 78.85% 26.83% 25.68%
Inventory $7.563M $8.021M $9.400M
Prepaid Expenses
Receivables $73.90M $69.80M $49.60M
Other Receivables $0.00 $4.600M $4.400M
Total Short-Term Assets $237.3M $289.7M $236.7M
YoY Change -18.08% 2.11% -8.61%
LONG-TERM ASSETS
Property, Plant & Equipment $19.68M $16.46M $15.20M
YoY Change 19.57% 21.9% 22.58%
Goodwill $202.5M $170.4M
YoY Change 18.82% 32.93%
Intangibles $63.83M $54.69M
YoY Change 16.72%
Long-Term Investments $16.80M $16.60M $28.40M
YoY Change 1.2% -40.5% 16.87%
Other Assets $2.872M $2.008M $24.30M
YoY Change 43.03% -92.45% -22.36%
Total Long-Term Assets $314.9M $278.1M $294.2M
YoY Change 13.23% 14.01% 19.89%
TOTAL ASSETS
Total Short-Term Assets $237.3M $289.7M $236.7M
Total Long-Term Assets $314.9M $278.1M $294.2M
Total Assets $552.2M $567.8M $530.9M
YoY Change -2.74% 7.61% 5.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.16M $7.539M $6.600M
YoY Change 34.78% -22.28% 20.0%
Accrued Expenses $39.60M $29.30M $27.70M
YoY Change 35.15% 10.15% 13.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $145.2M $134.1M $120.1M
YoY Change 8.26% -1.84% -5.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $62.00M $62.00M
YoY Change -100.0% 16.76% 8.96%
Other Long-Term Liabilities $2.249M $2.347M $21.50M
YoY Change -4.18% -87.17% 27.22%
Total Long-Term Liabilities $2.249M $64.35M $83.50M
YoY Change -96.5% -9.88% 13.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $145.2M $134.1M $120.1M
Total Long-Term Liabilities $2.249M $64.35M $83.50M
Total Liabilities $180.3M $225.4M $205.2M
YoY Change -20.02% 8.36% 2.24%
SHAREHOLDERS EQUITY
Retained Earnings $201.5M $160.9M
YoY Change 25.25%
Common Stock $49.00K $48.00K
YoY Change 2.08%
Preferred Stock
YoY Change
Treasury Stock (at cost) $83.48M $56.03M
YoY Change 48.99%
Treasury Stock Shares 7.541M shares 6.372M shares
Shareholders Equity $371.9M $342.4M $325.7M
YoY Change
Total Liabilities & Shareholders Equity $552.2M $567.8M $530.9M
YoY Change -2.74% 7.61% 5.25%

Cashflow Statement

Concept 2013 Q1 2012 Q1 2011 Q4
OPERATING ACTIVITIES
Net Income $14.55M $12.95M $10.03M
YoY Change 12.4% 19.88% -9.63%
Depreciation, Depletion And Amortization $3.700M $4.400M $4.200M
YoY Change -15.91% 25.71% 20.0%
Cash From Operating Activities $28.40M $24.40M $26.00M
YoY Change 16.39% 8.44% 84.4%
INVESTING ACTIVITIES
Capital Expenditures -$3.600M -$3.400M -$2.100M
YoY Change 5.88% 3.03% 31.25%
Acquisitions
YoY Change
Other Investing Activities -$8.300M -$4.800M -$24.20M
YoY Change 72.92% -93.34% 250.72%
Cash From Investing Activities -$11.90M -$8.200M -$26.30M
YoY Change 45.12% -89.12% 209.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.500M -1.700M -700.0K
YoY Change 341.18% 13.33% -136.84%
NET CHANGE
Cash From Operating Activities 28.40M 24.40M 26.00M
Cash From Investing Activities -11.90M -8.200M -26.30M
Cash From Financing Activities -7.500M -1.700M -700.0K
Net Change In Cash 9.000M 14.50M -1.000M
YoY Change -37.93% -126.65% -113.33%
FREE CASH FLOW
Cash From Operating Activities $28.40M $24.40M $26.00M
Capital Expenditures -$3.600M -$3.400M -$2.100M
Free Cash Flow $32.00M $27.80M $28.10M
YoY Change 15.11% 7.75% 78.98%

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CY2012 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
159000
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3997000
CY2012 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-385000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
50918000
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
109624000
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
888000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
49478000
CY2012 us-gaap Cost Of Revenue
CostOfRevenue
65672000
CY2012 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2100000
CY2012 us-gaap Extinguishment Of Debt Gain Loss Net Of Tax
ExtinguishmentOfDebtGainLossNetOfTax
-553000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
125 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.001 pure
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OperatingExpenses
189324000
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26401000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
13.60
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
49525000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42035000 shares
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
892000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1421000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5600000
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2012 us-gaap Proceeds From Repurchase Of Equity
ProceedsFromRepurchaseOfEquity
473000
CY2012 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
0
CY2012 us-gaap Cost Of Goods Sold
CostOfGoodsSold
39271000
CY2012 us-gaap Revenues
Revenues
308679000
CY2012 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
140538000
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1032000
CY2012 us-gaap Depreciation
Depreciation
9600000
CY2012 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
117682000
CY2012 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-168000
CY2012 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
900000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8702000
CY2012 us-gaap Gross Profit
GrossProfit
243007000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-27418000
CY2012 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
20595000
CY2012 us-gaap Interest Paid
InterestPaid
1253000
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-51000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
9208000
CY2012 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
10594000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5437000
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-195000
CY2012 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
184899000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
32428000
CY2012 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2765000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
965000
CY2012 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-625000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2012 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
42505000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18490000
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-10000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
82000
CY2012 us-gaap Severance Costs
SeveranceCosts
603000
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1000
CY2012 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1357000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2131000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
75315 shares
CY2012 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.25
CY2012 us-gaap Interest Expense
InterestExpense
1766000
CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0
CY2012 ntct Payments Of Contingent Consideration
PaymentsOfContingentConsideration
846000
CY2012 ntct Transfers From Inventory To Fixed Assets
TransfersFromInventoryToFixedAssets
1910000
CY2012 ntct Increase Decrease In Contingent Consideration Payable
IncreaseDecreaseInContingentConsiderationPayable
8000000
CY2012 ntct Effective Income Tax Rate Reconciliation Nondeductible Expense Transaction Costs
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseTransactionCosts
0.015 pure
CY2012 ntct Acquisition Related Compensation Expense And Accretion Charges
AcquisitionRelatedCompensationExpenseAndAccretionCharges
106000
CY2012 ntct Business Acquisition Purchase Price Allocation Current Liabilities Change In Amount Of Contractual Non Compliance Liability
BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesChangeInAmountOfContractualNonComplianceLiability
-900000
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2013Q1 us-gaap Revenues
Revenues
98077000
CY2013Q1 us-gaap Gross Profit
GrossProfit
77037000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
14553000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2011Q2 us-gaap Revenues
Revenues
63296000
CY2011Q2 us-gaap Gross Profit
GrossProfit
49400000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
2399000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2012Q2 us-gaap Revenues
Revenues
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CY2012Q2 us-gaap Gross Profit
GrossProfit
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CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
5008000
CY2012Q2 ntct Reduction In Valuation Reserve Reflecting Redemptions At Par Net Of Tax
ReductionInValuationReserveReflectingRedemptionsAtParNetOfTax
117000
CY2012Q2 ntct Reduction In Valuation Reserve Reflecting Redemptions At Par
ReductionInValuationReserveReflectingRedemptionsAtPar
190000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2012Q1 us-gaap Revenues
Revenues
89462000
CY2012Q1 us-gaap Gross Profit
GrossProfit
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CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2011Q3 us-gaap Revenues
Revenues
72624000
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NetIncomeLoss
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CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2011Q4 us-gaap Revenues
Revenues
83297000
CY2011Q4 us-gaap Gross Profit
GrossProfit
66058000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
10031000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2012Q3 us-gaap Revenues
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84545000
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67604000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
9910000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2012Q4 us-gaap Revenues
Revenues
91567000
CY2012Q4 us-gaap Gross Profit
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72403000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
11138000

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