$OFIX
Orthofix Medical Inc.

2014 Q3 Form 10-Q Financial Statement

#000119312515112321 Filed on March 31, 2015

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $101.0M $91.81M
YoY Change 10.01% -14.88%
Cost Of Revenue $25.27M $25.06M
YoY Change 0.81% 2.79%
Gross Profit $75.73M $66.74M
YoY Change 13.46% -20.04%
Gross Profit Margin 74.98% 72.7%
Selling, General & Admin $59.81M $52.01M
YoY Change 15.0% -8.55%
% of Gross Profit 78.98% 77.93%
Research & Development $6.572M $6.361M
YoY Change 3.32% -7.25%
% of Gross Profit 8.68% 9.53%
Depreciation & Amortization $5.600M $5.300M
YoY Change 5.66% 17.78%
% of Gross Profit 7.4% 7.94%
Operating Expenses $69.22M $80.84M
YoY Change -14.38% 25.01%
Operating Profit $6.508M -$14.10M
YoY Change -146.15% -174.99%
Interest Expense $395.0K $539.0K
YoY Change -26.72% 16.16%
% of Operating Profit 6.07%
Other Income/Expense, Net -$1.717M -$2.020M
YoY Change -15.0% 36.03%
Pretax Income $4.791M -$16.12M
YoY Change -129.72% -193.08%
Income Tax $4.763M $383.0K
% Of Pretax Income 99.42%
Net Earnings $452.0K -$18.84M
YoY Change -102.4% -475.52%
Net Earnings / Revenue 0.45% -20.52%
Basic Earnings Per Share $0.02 -$1.04
Diluted Earnings Per Share $0.02 -$1.04
COMMON SHARES
Basic Shares Outstanding 18.58M shares 18.14M shares
Diluted Shares Outstanding 18.77M shares 18.14M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.80M $22.20M
YoY Change 34.23% -58.58%
Cash & Equivalents $29.83M $20.73M
Short-Term Investments
Other Short-Term Assets $113.8M $84.10M
YoY Change 35.32% -26.55%
Inventory $64.27M $100.2M
Prepaid Expenses
Receivables $62.51M $75.25M
Other Receivables $0.00 $0.00
Total Short-Term Assets $270.3M $281.8M
YoY Change -4.06% -30.4%
LONG-TERM ASSETS
Property, Plant & Equipment $49.62M $55.76M
YoY Change -11.02% 19.79%
Goodwill $53.57M $55.41M
YoY Change -3.32% -25.08%
Intangibles $7.455M $9.821M
YoY Change -24.09% 40.3%
Long-Term Investments
YoY Change
Other Assets $8.838M $7.386M
YoY Change 19.66% -45.45%
Total Long-Term Assets $140.7M $133.8M
YoY Change 5.2% -0.7%
TOTAL ASSETS
Total Short-Term Assets $270.3M $281.8M
Total Long-Term Assets $140.7M $133.8M
Total Assets $411.0M $415.5M
YoY Change -1.08% -22.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.20M $14.70M
YoY Change -10.2% -18.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $81.38M $66.02M
YoY Change 23.27% -56.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $20.00M
YoY Change -100.0% 0.0%
Other Long-Term Liabilities $11.76M $12.15M
YoY Change -3.19% 132.69%
Total Long-Term Liabilities $11.76M $12.15M
YoY Change -3.19% 132.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.38M $66.02M
Total Long-Term Liabilities $11.76M $12.15M
Total Liabilities $106.0M $108.5M
YoY Change -2.31% -43.94%
SHAREHOLDERS EQUITY
Retained Earnings $71.16M $97.21M
YoY Change -26.8% -24.08%
Common Stock $232.9M $216.9M
YoY Change 7.38% -12.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $305.0M $307.0M
YoY Change
Total Liabilities & Shareholders Equity $411.0M $415.5M
YoY Change -1.08% -22.99%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $452.0K -$18.84M
YoY Change -102.4% -475.52%
Depreciation, Depletion And Amortization $5.600M $5.300M
YoY Change 5.66% 17.78%
Cash From Operating Activities $18.10M $17.80M
YoY Change 1.69% 67.92%
INVESTING ACTIVITIES
Capital Expenditures -$5.200M -$10.50M
YoY Change -50.48% 87.5%
Acquisitions
YoY Change
Other Investing Activities -$1.400M -$400.0K
YoY Change 250.0% -157.14%
Cash From Investing Activities -$6.700M -$10.90M
YoY Change -38.53% 118.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.700M -13.50M
YoY Change -35.56% 486.96%
NET CHANGE
Cash From Operating Activities 18.10M 17.80M
Cash From Investing Activities -6.700M -10.90M
Cash From Financing Activities -8.700M -13.50M
Net Change In Cash 2.700M -6.600M
YoY Change -140.91% -300.0%
FREE CASH FLOW
Cash From Operating Activities $18.10M $17.80M
Capital Expenditures -$5.200M -$10.50M
Free Cash Flow $23.30M $28.30M
YoY Change -17.67% 74.69%

Facts In Submission

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <b>(b) Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company has reclassified certain line items to conform to the current year presentation. The reclassifications have no effect on previously reported net earnings or shareholders&#x2019; equity.</p> </div>
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ORTHOFIX INTERNATIONAL N V
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 41px; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>(c) Use of estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates including those related to contractual allowances, doubtful accounts, inventories, potential intangible assets and goodwill impairment, income taxes, and share based compensation. Actual results could differ from these estimates.</p> </div>
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CostOfGoodsAndServicesSold
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CY2013Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
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CY2014Q3 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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CY2014Q3 ofix Allocated Share Based Compensation Expense Benefit
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1730000
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MarketServiceRevenue
12698000
CY2014Q3 ofix Contributions Margin
ContributionsMargin
34728000

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