2015 Q2 Form 10-Q Financial Statement

#000162828015006216 Filed on August 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $100.7M $107.9M
YoY Change -6.59% 31.84%
Cost Of Revenue $21.30M $22.60M
YoY Change -5.75% 33.53%
Gross Profit $79.45M $85.26M
YoY Change -6.81% 31.4%
Gross Profit Margin 78.86% 79.05%
Selling, General & Admin $48.19M $46.03M
YoY Change 4.71% 17.47%
% of Gross Profit 60.66% 53.98%
Research & Development $18.06M $18.77M
YoY Change -3.78% 17.55%
% of Gross Profit 22.73% 22.01%
Depreciation & Amortization $4.986M $4.876M
YoY Change 2.26% 0.35%
% of Gross Profit 6.28% 5.72%
Operating Expenses $67.06M $65.65M
YoY Change 2.14% 17.24%
Operating Profit $12.39M $19.60M
YoY Change -36.8% 120.67%
Interest Expense $192.0K $194.0K
YoY Change -1.03% 2.11%
% of Operating Profit 1.55% 0.99%
Other Income/Expense, Net -$146.0K -$131.0K
YoY Change 11.45% 79.45%
Pretax Income $12.24M $19.47M
YoY Change -37.12% 121.01%
Income Tax $4.574M $7.995M
% Of Pretax Income 37.36% 41.06%
Net Earnings $7.669M $11.48M
YoY Change -33.17% 118.47%
Net Earnings / Revenue 7.61% 10.64%
Basic Earnings Per Share $0.19 $0.28
Diluted Earnings Per Share $0.19 $0.27
COMMON SHARES
Basic Shares Outstanding 40.78M shares 41.08M shares
Diluted Shares Outstanding 41.37M shares 41.81M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $207.2M $177.9M
YoY Change 16.47% 19.32%
Cash & Equivalents $94.35M $88.97M
Short-Term Investments $112.9M $88.90M
Other Short-Term Assets $29.50M $23.70M
YoY Change 24.47% 41.07%
Inventory $12.71M $11.03M
Prepaid Expenses
Receivables $58.50M $32.96M
Other Receivables $0.00 $1.200M
Total Short-Term Assets $307.9M $246.8M
YoY Change 24.76% 7.66%
LONG-TERM ASSETS
Property, Plant & Equipment $24.90M $22.74M
YoY Change 9.5% 10.59%
Goodwill $198.2M $203.0M
YoY Change -2.37% 0.22%
Intangibles $48.82M $56.64M
YoY Change -13.82% -9.11%
Long-Term Investments $60.30M $56.60M
YoY Change 6.54% 310.14%
Other Assets $1.617M $2.344M
YoY Change -31.02% -3.9%
Total Long-Term Assets $333.9M $341.3M
YoY Change -2.19% 9.96%
TOTAL ASSETS
Total Short-Term Assets $307.9M $246.8M
Total Long-Term Assets $333.9M $341.3M
Total Assets $641.8M $588.1M
YoY Change 9.12% 8.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.20M $9.888M
YoY Change 13.3% -18.48%
Accrued Expenses $29.30M $29.90M
YoY Change -2.01% 12.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $148.8M $141.7M
YoY Change 5.03% 6.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.858M $2.275M
YoY Change -18.33% -14.79%
Total Long-Term Liabilities $1.858M $2.275M
YoY Change -18.33% -14.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $148.8M $141.7M
Total Long-Term Liabilities $1.858M $2.275M
Total Liabilities $195.4M $175.5M
YoY Change 11.31% 5.6%
SHAREHOLDERS EQUITY
Retained Earnings $319.4M $262.0M
YoY Change 21.9% 26.77%
Common Stock $51.00K $50.00K
YoY Change 2.0% 2.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $172.7M $130.0M
YoY Change 32.84% 42.92%
Treasury Stock Shares 10.08M shares 9.069M shares
Shareholders Equity $446.4M $412.6M
YoY Change
Total Liabilities & Shareholders Equity $641.8M $588.1M
YoY Change 9.12% 8.98%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $7.669M $11.48M
YoY Change -33.17% 118.47%
Depreciation, Depletion And Amortization $4.986M $4.876M
YoY Change 2.26% 0.35%
Cash From Operating Activities $9.300M $28.20M
YoY Change -67.02% 51.61%
INVESTING ACTIVITIES
Capital Expenditures $3.415M $1.865M
YoY Change 83.11% -17.84%
Acquisitions
YoY Change
Other Investing Activities -$13.30M -$28.70M
YoY Change -53.66% 378.33%
Cash From Investing Activities -$16.80M -$30.60M
YoY Change -45.1% 264.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.167M $12.19M
YoY Change -74.01% 63.15%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.200M -10.70M
YoY Change -70.09% 44.59%
NET CHANGE
Cash From Operating Activities 9.300M 28.20M
Cash From Investing Activities -16.80M -30.60M
Cash From Financing Activities -3.200M -10.70M
Net Change In Cash -10.70M -13.10M
YoY Change -18.32% -567.86%
FREE CASH FLOW
Cash From Operating Activities $9.300M $28.20M
Capital Expenditures $3.415M $1.865M
Free Cash Flow $5.885M $26.34M
YoY Change -77.65% 61.27%

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CY2015Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
50180000 USD
CY2015Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
48815000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
194000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
192000 USD
CY2015Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5979000 USD
CY2015Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
5203000 USD
CY2015Q1 us-gaap Inventory Net
InventoryNet
12130000 USD
CY2015Q2 us-gaap Inventory Net
InventoryNet
12710000 USD
CY2015Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
6134000 USD
CY2015Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
7241000 USD
CY2015Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
17000 USD
CY2015Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
266000 USD
CY2014Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
104000 USD
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
158000 USD
CY2015Q1 us-gaap Liabilities
Liabilities
233299000 USD
CY2015Q2 us-gaap Liabilities
Liabilities
195358000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
669049000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
641752000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
187633000 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
148818000 USD
CY2015Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
6148000 USD
CY2015Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
4977000 USD
CY2015Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2011Q4 us-gaap Line Of Credit
LineOfCredit
250000000 USD
CY2011Q4 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2016-11-21
CY2011Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
300000000 USD
CY2015Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
101392000 USD
CY2015Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
112857000 USD
CY2015Q1 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
58572000 USD
CY2015Q2 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
60303000 USD
CY2014Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-10748000 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-3167000 USD
CY2014Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-30627000 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-16758000 USD
CY2014Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
28200000 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
9290000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
11476000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
7669000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-131000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-146000 USD
CY2015Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 reporting_unit
CY2015Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
65654000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
67058000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
19602000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
12389000 USD
CY2015Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
14474000 USD
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7509000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1704000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1617000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
44000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-59000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
32000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
869000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-432000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
977000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-356000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1787000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
106000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-863000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
63000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
-460000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
138000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
6000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
86000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
4000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
44000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-59000 USD
CY2015Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1995000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1858000 USD
CY2014Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-28000 USD
CY2015Q2 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-42000 USD
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-41000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-112000 USD
CY2014Q2 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-9000 USD
CY2015Q2 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
0 USD
CY2014Q2 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-17000 USD
CY2015Q2 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
0 USD
CY2014Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
12187000 USD
CY2015Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3167000 USD
CY2014Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
71000 USD
CY2015Q2 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
88000 USD
CY2014Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
42506000 USD
CY2015Q2 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
32289000 USD
CY2014Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1865000 USD
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3415000 USD
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
shares
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13495000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8425000 USD
CY2015Q1 us-gaap Prepaid Taxes
PrepaidTaxes
1393000 USD
CY2015Q2 us-gaap Prepaid Taxes
PrepaidTaxes
0 USD
CY2014Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
8000 USD
CY2015Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
0 USD
CY2014Q2 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
13798000 USD
CY2015Q2 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
19034000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23864000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24902000 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18767000 USD
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18058000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
311759000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
319428000 USD
CY2014Q2 us-gaap Revenues
Revenues
107852000 USD
CY2015Q2 us-gaap Revenues
Revenues
100743000 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
64366000 USD
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
53593000 USD
CY2014Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
43486000 USD
CY2015Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
47150000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
37272000 USD
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
38092000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3302000 USD
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4595000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.85
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
435750000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
446394000 USD
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
10004743 shares
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
10081204 shares
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
169516000 USD
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
172683000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41808000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41371000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41081000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40776000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
710000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
595000 shares

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