2019 Q1 Form 10-Q Financial Statement

#000112290419000126 Filed on May 03, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q2
Revenue $249.1M $345.0M
YoY Change 6.59%
Cost Of Revenue $167.1M $168.9M
YoY Change -25.51%
Gross Profit $82.01M $76.32M
YoY Change -4.73%
Gross Profit Margin 32.92% 22.12%
Selling, General & Admin $48.97M $53.64M
YoY Change 4.3%
% of Gross Profit 59.72% 70.28%
Research & Development $18.83M $21.19M
YoY Change -6.58%
% of Gross Profit 22.96% 27.77%
Depreciation & Amortization $5.028M $5.040M
YoY Change -35.93%
% of Gross Profit 6.13% 6.6%
Operating Expenses $68.00M $74.82M
YoY Change 0.91%
Operating Profit $14.01M $1.502M
YoY Change -93.41%
Interest Expense $1.300M -$1.100M
YoY Change 57.14%
% of Operating Profit 9.28% -73.24%
Other Income/Expense, Net $341.0K -$1.318M
YoY Change -493.43%
Pretax Income $15.10M $932.0K
YoY Change -96.04%
Income Tax $2.207M -$86.00K
% Of Pretax Income 14.62% -9.23%
Net Earnings $12.84M $5.590M
YoY Change -65.05%
Net Earnings / Revenue 5.16% 1.62%
Basic Earnings Per Share $0.41 $0.18
Diluted Earnings Per Share $0.39 $0.17
COMMON SHARES
Basic Shares Outstanding 31.48M 31.43M shares
Diluted Shares Outstanding 32.87M 32.66M shares

Balance Sheet

Concept 2019 Q1 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.7M $386.2M
YoY Change 6.92%
Cash & Equivalents $185.7M $258.8M
Short-Term Investments $27.00M $127.4M
Other Short-Term Assets $34.80M $29.90M
YoY Change -0.33%
Inventory $236.1M $266.3M
Prepaid Expenses
Receivables $262.5M $317.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $857.4M $999.5M
YoY Change -15.9% 8.14%
LONG-TERM ASSETS
Property, Plant & Equipment $20.65M $19.78M
YoY Change 2.23%
Goodwill $80.72M $85.46M
YoY Change 0.0%
Intangibles $15.06M $22.45M
YoY Change -32.86%
Long-Term Investments $8.100M
YoY Change
Other Assets $71.24M $85.95M
YoY Change 36.02% 7.95%
Total Long-Term Assets $224.6M $213.6M
YoY Change 13.86% -1.94%
TOTAL ASSETS
Total Short-Term Assets $857.4M $999.5M
Total Long-Term Assets $224.6M $213.6M
Total Assets $1.082B $1.213B
YoY Change -11.07% 6.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $69.28M $96.37M
YoY Change -23.95% 7.36%
Accrued Expenses $210.4M $239.3M
YoY Change 15.64% 60.27%
Deferred Revenue $11.75M $30.99M
YoY Change 119.34%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $394.9M $402.2M
YoY Change -11.32% 33.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.067M $23.21M
YoY Change -30.51% 41.06%
Total Long-Term Liabilities $6.067M $23.21M
YoY Change -30.51% 41.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $394.9M $402.2M
Total Long-Term Liabilities $6.067M $23.21M
Total Liabilities $454.4M $457.5M
YoY Change -8.88% 36.92%
SHAREHOLDERS EQUITY
Retained Earnings -$171.6M $140.1M
YoY Change -248.32% -39.29%
Common Stock $32.00K $32.00K
YoY Change -3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $632.9M $755.7M
YoY Change
Total Liabilities & Shareholders Equity $1.082B $1.213B
YoY Change 6.22%

Cashflow Statement

Concept 2019 Q1 2018 Q2
OPERATING ACTIVITIES
Net Income $12.84M $5.590M
YoY Change -65.05%
Depreciation, Depletion And Amortization $5.028M $5.040M
YoY Change -35.93%
Cash From Operating Activities -$37.19M $57.00M
YoY Change 515.44%
INVESTING ACTIVITIES
Capital Expenditures $5.958M $2.774M
YoY Change -19.22%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $41.80M -$700.0K
YoY Change -68.18%
Cash From Investing Activities $35.84M -$3.444M
YoY Change -38.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.00M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.02M $2.373M
YoY Change -128.03%
NET CHANGE
Cash From Operating Activities -37.19M $57.00M
Cash From Investing Activities 35.84M -$3.444M
Cash From Financing Activities -14.02M $2.373M
Net Change In Cash -15.37M $55.93M
YoY Change -1265.1%
FREE CASH FLOW
Cash From Operating Activities -$37.19M $57.00M
Capital Expenditures $5.958M $2.774M
Free Cash Flow -$43.15M $54.22M
YoY Change 830.53%

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4954000 USD
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514000 USD
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527000 USD
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6205000 USD
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932000 USD
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15050000 USD
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1018000 USD
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12843000 USD
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0.39
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1733000 USD
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1546000 USD
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2620000 USD
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2026-12-31
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23000 USD
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6000 USD
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29000 USD
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15000 USD
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12000 USD
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3344000 USD
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2303000 USD
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47145000 USD
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CY2018Q4 us-gaap Product Warranty Accrual
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14412000 USD
CY2019Q1 us-gaap Product Warranty Accrual
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14412000 USD
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12531000 USD
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3273000 USD
CY2019Q1 us-gaap Product Warranty Accrual Payments
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3162000 USD
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3844000 USD
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1281000 USD
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20177000 USD
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169800000 USD
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242000 USD
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64000 USD
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21191000 USD
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18832000 USD
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CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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49895000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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1012000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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965000 USD
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P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
577000 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
37874000 USD
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
35855000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
6864000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6458000 USD
CY2018Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
38000 shares
CY2019Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
89000 shares
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
73317000 USD
CY2019Q1 us-gaap Short Term Investments
ShortTermInvestments
26972000 USD
CY2019Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
800000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4590000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4371000 USD
CY2019Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
1000000 shares
CY2018Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
400000 shares
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
15000000 USD
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
15000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
730485000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
755719000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
627552000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
632908000 USD
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1233000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1391000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32660000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32874000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31427000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31483000 shares

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