2019 Q1 Form 10-Q Financial Statement

#000162828019001080 Filed on February 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2017 Q4
Revenue $235.0M $246.0M $268.9M
YoY Change -0.09% -8.53% -11.0%
Cost Of Revenue $58.50M $69.58M $64.51M
YoY Change -12.16% 7.87% -21.02%
Gross Profit $176.5M $176.4M $204.4M
YoY Change 4.64% -13.7% -7.29%
Gross Profit Margin 75.09% 71.71% 76.01%
Selling, General & Admin $87.10M $96.81M $100.3M
YoY Change -12.64% -3.48% -10.25%
% of Gross Profit 49.36% 54.87% 49.06%
Research & Development $42.30M $49.93M $44.29M
YoY Change -20.64% 12.73% -23.75%
% of Gross Profit 23.97% 28.3% 21.66%
Depreciation & Amortization $31.40M $31.90M $37.70M
YoY Change -22.66% -15.38% -6.45%
% of Gross Profit 17.79% 18.08% 18.44%
Operating Expenses $145.8M $177.1M $166.2M
YoY Change -16.54% 6.55% -11.21%
Operating Profit $30.67M -$641.0K $38.26M
YoY Change -605.46% -101.68% 14.68%
Interest Expense -$5.300M $7.005M $2.798M
YoY Change 29.27% 150.36% 23.81%
% of Operating Profit -17.28% 7.31%
Other Income/Expense, Net -$900.0K -$4.564M -$3.107M
YoY Change 0.0% 46.89% 13.06%
Pretax Income $23.10M -$5.205M $35.15M
YoY Change -283.33% -114.81% 14.83%
Income Tax $3.900M -$1.602M -$54.53M
% Of Pretax Income 16.88% -155.12%
Net Earnings $19.21M -$3.603M $89.69M
YoY Change 14.24% -104.02% 322.15%
Net Earnings / Revenue 8.17% -1.46% 33.35%
Basic Earnings Per Share -$0.05 $1.03
Diluted Earnings Per Share $0.24 -$0.05 $1.02
COMMON SHARES
Basic Shares Outstanding 77.83M shares 77.77M shares 87.21M shares
Diluted Shares Outstanding 77.77M shares 87.86M shares

Balance Sheet

Concept 2019 Q1 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $486.0M $474.8M $379.8M
YoY Change 8.53% 25.01% 5.59%
Cash & Equivalents $409.6M $369.1M $331.9M
Short-Term Investments $76.30M $105.8M $47.90M
Other Short-Term Assets $38.60M $31.70M $23.70M
YoY Change 15.22% 33.76% -17.71%
Inventory $26.27M $28.91M $36.59M
Prepaid Expenses
Receivables $235.3M $247.7M $249.9M
Other Receivables $18.00M $23.80M $23.50M
Total Short-Term Assets $801.2M $802.2M $713.5M
YoY Change 6.49% 12.44% -4.31%
LONG-TERM ASSETS
Property, Plant & Equipment $58.95M $60.79M $53.65M
YoY Change 12.26% 13.32% -13.33%
Goodwill $1.715B $1.716B $1.716B
YoY Change 0.16% -0.05% -0.26%
Intangibles $669.1M $693.8M $859.2M
YoY Change -19.52% -19.25% -10.41%
Long-Term Investments $1.000M $1.000M $3.200M
YoY Change -68.75% -81.4%
Other Assets $16.99M $19.30M $7.423M
YoY Change 32.04% 159.98% 29.7%
Total Long-Term Assets $2.469B $2.495B $2.646B
YoY Change -5.64% -5.68% -4.4%
TOTAL ASSETS
Total Short-Term Assets $801.2M $802.2M $713.5M
Total Long-Term Assets $2.469B $2.495B $2.646B
Total Assets $3.270B $3.297B $3.359B
YoY Change -2.93% -1.83% -4.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.58M $29.43M $32.47M
YoY Change -18.42% -9.35% -22.06%
Accrued Expenses $81.50M $95.60M $84.30M
YoY Change 2.26% 13.4% -24.6%
Deferred Revenue $272.5M $260.9M
YoY Change -9.74%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $379.9M $386.4M $419.3M
YoY Change -8.07% -7.86% -7.44%
LONG-TERM LIABILITIES
Long-Term Debt $550.0M $600.0M $300.0M
YoY Change -8.33% 100.0% 0.0%
Other Long-Term Liabilities $19.49M $20.06M $7.412M
YoY Change 134.63% 170.6% 139.25%
Total Long-Term Liabilities $569.5M $620.1M $307.4M
YoY Change -6.38% 101.7% 1.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $379.9M $386.4M $419.3M
Total Long-Term Liabilities $569.5M $620.1M $307.4M
Total Liabilities $1.205B $1.254B $1.028B
YoY Change -7.33% 22.01% -7.83%
SHAREHOLDERS EQUITY
Retained Earnings $358.1M $338.1M $379.7M
YoY Change -9.68% -10.95% 28.98%
Common Stock $120.0K $119.0K $117.0K
YoY Change 2.56% 1.71% 0.86%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.119B $1.104B $783.9M
YoY Change 12.37% 40.84% 37.64%
Treasury Stock Shares 42.15M shares 41.59M shares 30.06M shares
Shareholders Equity $2.065B $2.043B $2.331B
YoY Change
Total Liabilities & Shareholders Equity $3.270B $3.297B $3.359B
YoY Change -2.93% -1.83% -4.38%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $19.21M -$3.603M $89.69M
YoY Change 14.24% -104.02% 322.15%
Depreciation, Depletion And Amortization $31.40M $31.90M $37.70M
YoY Change -22.66% -15.38% -6.45%
Cash From Operating Activities $80.30M $36.80M $76.80M
YoY Change 9.1% -52.08% -3.64%
INVESTING ACTIVITIES
Capital Expenditures -$3.900M -$7.400M -$4.800M
YoY Change 8.33% 54.17% -21.31%
Acquisitions
YoY Change
Other Investing Activities $29.10M $13.20M $10.70M
YoY Change -206.99% 23.36% -162.94%
Cash From Investing Activities $25.10M $5.800M $5.900M
YoY Change -181.49% -1.69% -125.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.00M -3.900M -1.900M
YoY Change 778.38% 105.26% -68.33%
NET CHANGE
Cash From Operating Activities 80.30M 36.80M 76.80M
Cash From Investing Activities 25.10M 5.800M 5.900M
Cash From Financing Activities -65.00M -3.900M -1.900M
Net Change In Cash 40.40M 38.70M 80.80M
YoY Change 14.12% -52.1% 59.68%
FREE CASH FLOW
Cash From Operating Activities $80.30M $36.80M $76.80M
Capital Expenditures -$3.900M -$7.400M -$4.800M
Free Cash Flow $84.20M $44.20M $81.60M
YoY Change 9.07% -45.83% -4.9%

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us-gaap Depreciation Depletion And Amortization
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us-gaap Effective Income Tax Rate Continuing Operations
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24619000 USD
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61515000 USD
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69234000 USD
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0 USD
us-gaap Gain Loss On Foreign Currency Cash Flow Hedge Ineffectiveness
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0 USD
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0 USD
us-gaap Gain Loss On Foreign Currency Cash Flow Hedge Ineffectiveness
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0 USD
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us-gaap Gain Loss On Sale Of Business
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0 USD
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us-gaap General And Administrative Expense
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us-gaap Gross Profit
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us-gaap Gross Profit
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0 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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0 USD
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35871000 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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35900000 USD
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35154000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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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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us-gaap Income Tax Expense Benefit
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60286000 USD
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-554000 USD
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-171000 USD
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-82000 USD
us-gaap Increase Decrease In Due To Related Parties
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232000 USD
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28385000 USD
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1222000 USD
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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224000 USD
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2800000 USD
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157000 USD
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382000 USD
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96000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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497000 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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299000 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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12000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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35000 USD
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12000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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21000 USD
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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26000 USD
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200000000 USD
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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8334000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
us-gaap Payments To Acquire Intangible Assets
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505000 USD
us-gaap Payments To Acquire Intangible Assets
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0 USD
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
184104000 USD
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12352000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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19462000 USD
us-gaap Payments To Develop Software
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136000 USD
us-gaap Payments To Develop Software
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132000 USD
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
33502000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
27001000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
38128000 USD
CY2018Q1 us-gaap Prepaid Taxes
PrepaidTaxes
22932000 USD
CY2018Q4 us-gaap Prepaid Taxes
PrepaidTaxes
23826000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
180018000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
155346000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52511000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60789000 USD
CY2018Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
267409000 USD
CY2018Q2 us-gaap Receivables From Customers
ReceivablesFromCustomers
205299000 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44287000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
161762000 USD
CY2018Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
49925000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
161347000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
846000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
910000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
910000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
187000 USD
CY2017Q4 us-gaap Restructuring Charges
RestructuringCharges
3363000 USD
us-gaap Restructuring Charges
RestructuringCharges
3821000 USD
CY2018Q4 us-gaap Restructuring Charges
RestructuringCharges
13895000 USD
us-gaap Restructuring Charges
RestructuringCharges
17514000 USD
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
3696000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
1291000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-573000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
396493000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
338107000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
430642000 USD
CY2018Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
260900000 USD
CY2018Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
84900000 USD
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.75
CY2018Q4 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.25
CY2017Q4 us-gaap Revenues
Revenues
268944000 USD
us-gaap Revenues
Revenues
751563000 USD
CY2018Q4 us-gaap Revenues
Revenues
246008000 USD
us-gaap Revenues
Revenues
674916000 USD
CY2017Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
77270000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
239897000 USD
CY2018Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
74024000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
224207000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
35254000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
44142000 USD
CY2018Q4 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 Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
25000000 shares
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
2068782000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
2043477000 USD
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
37474890 shares
CY2018Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
41585243 shares
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
995843000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1104042000 USD
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87210000 shares
CY2018Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
3404000 USD
CY2018Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
4338000 USD
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87860000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89882000 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77774000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78916000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88985000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77774000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78916000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
650000 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
897000 shares
CY2018Q4 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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