2018 Q3 Form 10-Q Financial Statement

#000162828018013987 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $223.8M $256.9M
YoY Change -12.87% -5.58%
Cost Of Revenue $63.98M $74.24M
YoY Change -13.82% -12.15%
Gross Profit $159.8M $182.6M
YoY Change -12.49% -2.62%
Gross Profit Margin 71.41% 71.1%
Selling, General & Admin $97.35M $106.8M
YoY Change -8.82% -1.36%
% of Gross Profit 60.91% 58.46%
Research & Development $55.96M $58.51M
YoY Change -4.36% -4.16%
% of Gross Profit 35.01% 32.04%
Depreciation & Amortization $34.30M $37.50M
YoY Change -8.53% -7.18%
% of Gross Profit 21.46% 20.53%
Operating Expenses $182.9M $183.9M
YoY Change -0.5% -1.54%
Operating Profit -$23.12M -$1.239M
YoY Change 1765.78% -253.91%
Interest Expense $6.427M $2.565M
YoY Change 150.57% 16.96%
% of Operating Profit
Other Income/Expense, Net -$5.946M -$3.323M
YoY Change 78.93% 36.75%
Pretax Income -$29.06M -$4.562M
YoY Change 537.07% 180.74%
Income Tax -$2.635M -$2.094M
% Of Pretax Income
Net Earnings -$26.43M -$2.468M
YoY Change 970.83% 94.94%
Net Earnings / Revenue -11.81% -0.96%
Basic Earnings Per Share -$0.34 -$0.03
Diluted Earnings Per Share -$0.34 -$0.03
COMMON SHARES
Basic Shares Outstanding 78.63M shares 88.59M shares
Diluted Shares Outstanding 78.63M shares 88.59M shares

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $452.1M $307.1M
YoY Change 47.22% 4.21%
Cash & Equivalents $332.2M $251.5M
Short-Term Investments $119.9M $55.60M
Other Short-Term Assets $31.80M $29.00M
YoY Change 9.66% -31.76%
Inventory $30.99M $36.96M
Prepaid Expenses
Receivables $184.2M $215.2M
Other Receivables $25.10M $48.60M
Total Short-Term Assets $719.8M $636.9M
YoY Change 13.03% -4.24%
LONG-TERM ASSETS
Property, Plant & Equipment $63.62M $57.41M
YoY Change 10.81% -10.3%
Goodwill $1.713B $1.716B
YoY Change -0.17% 0.08%
Intangibles $720.9M $888.0M
YoY Change -18.81% -11.04%
Long-Term Investments $6.300M
YoY Change -27.59%
Other Assets $20.01M $7.919M
YoY Change 152.63% 30.29%
Total Long-Term Assets $2.523B $2.681B
YoY Change -5.89% -4.07%
TOTAL ASSETS
Total Short-Term Assets $719.8M $636.9M
Total Long-Term Assets $2.523B $2.681B
Total Assets $3.243B $3.318B
YoY Change -2.26% -4.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.10M $30.13M
YoY Change -26.64% -34.29%
Accrued Expenses $86.40M $91.60M
YoY Change -5.68% -3.07%
Deferred Revenue $230.1M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $339.0M $397.7M
YoY Change -14.75% -5.89%
LONG-TERM LIABILITIES
Long-Term Debt $600.0M $300.0M
YoY Change 100.0% 0.0%
Other Long-Term Liabilities $20.45M $5.432M
YoY Change 276.45% 68.49%
Total Long-Term Liabilities $620.4M $305.4M
YoY Change 103.14% 0.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $339.0M $397.7M
Total Long-Term Liabilities $620.4M $305.4M
Total Liabilities $1.206B $1.086B
YoY Change 11.13% -0.02%
SHAREHOLDERS EQUITY
Retained Earnings $341.7M $290.0M
YoY Change 17.83% 6.17%
Common Stock $119.0K $116.0K
YoY Change 2.59% 0.87%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.102B $781.9M
YoY Change 40.99% 38.5%
Treasury Stock Shares 41.53M shares 30.00M shares
Shareholders Equity $2.037B $2.232B
YoY Change
Total Liabilities & Shareholders Equity $3.243B $3.318B
YoY Change -2.26% -4.1%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$26.43M -$2.468M
YoY Change 970.83% 94.94%
Depreciation, Depletion And Amortization $34.30M $37.50M
YoY Change -8.53% -7.18%
Cash From Operating Activities $7.200M $19.50M
YoY Change -63.08% 34.48%
INVESTING ACTIVITIES
Capital Expenditures -$5.700M -$4.900M
YoY Change 16.33% -42.35%
Acquisitions
YoY Change
Other Investing Activities -$17.40M $78.30M
YoY Change -122.22% 547.11%
Cash From Investing Activities -$23.10M $73.40M
YoY Change -131.47% 1938.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.900M -106.3M
YoY Change -93.51% 221.15%
NET CHANGE
Cash From Operating Activities 7.200M 19.50M
Cash From Investing Activities -23.10M 73.40M
Cash From Financing Activities -6.900M -106.3M
Net Change In Cash -22.80M -13.40M
YoY Change 70.15% -10.67%
FREE CASH FLOW
Cash From Operating Activities $7.200M $19.50M
Capital Expenditures -$5.700M -$4.900M
Free Cash Flow $12.90M $24.40M
YoY Change -47.13% 6.09%

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0 USD
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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8000 USD
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Develop Software
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0 USD
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2000 USD
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52511000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
63617000 USD
CY2018Q3 us-gaap Receivables From Customers
ReceivablesFromCustomers
190903000 USD
CY2018Q2 us-gaap Receivables From Customers
ReceivablesFromCustomers
205299000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
58509000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
117475000 USD
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
55959000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
111422000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
846000 USD
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
909000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
910000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
187000 USD
CY2017Q3 us-gaap Restructuring Charges
RestructuringCharges
291000 USD
us-gaap Restructuring Charges
RestructuringCharges
458000 USD
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
2472000 USD
us-gaap Restructuring Charges
RestructuringCharges
3619000 USD
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
3696000 USD
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
323000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-647000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
396493000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.25
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
430642000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
230100000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
77100000 USD
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2018Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.75
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
341710000 USD
CY2017Q3 us-gaap Revenues
Revenues
256863000 USD
us-gaap Revenues
Revenues
482619000 USD
CY2018Q3 us-gaap Revenues
Revenues
223797000 USD
us-gaap Revenues
Revenues
428908000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
77266000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
162627000 USD
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
72051000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
150183000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
22829000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
30383000 USD
CY2018Q3 us-gaap Share Price
SharePrice
25.00
us-gaap Stock Issued1
StockIssued1
8603000 USD
us-gaap Stock Issued1
StockIssued1
7575000 USD
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
302994 shares
CY2018Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 USD
CY2018Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
25000000 shares
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
2068782000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
2036598000 USD
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
37474890 shares
CY2018Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
41526563 shares
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
995843000 USD
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1102481000 USD
CY2018Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
4402000 USD
CY2018Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
4338000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
88589000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89878000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78631000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79490000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88589000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89878000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78631000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79490000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
0 shares

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