2018 Q4 Form 10-Q Financial Statement

#000007375618000056 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $495.1M $519.3M $476.1M
YoY Change 2.26% 9.07% -13.32%
Cost Of Revenue $462.1M $471.7M $421.2M
YoY Change 4.34% 11.97% -18.02%
Gross Profit $33.00M $47.64M $54.89M
YoY Change -20.1% -13.21% 54.85%
Gross Profit Margin 6.67% 9.17% 11.53%
Selling, General & Admin $53.70M $49.19M $44.35M
YoY Change 6.55% 10.9% -6.23%
% of Gross Profit 162.73% 103.26% 80.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $128.9M $50.70M $53.50M
YoY Change 143.21% -5.23% -27.9%
% of Gross Profit 390.61% 106.43% 97.48%
Operating Expenses $53.70M $49.19M $44.35M
YoY Change 6.55% 10.9% -6.23%
Operating Profit -$97.14M -$1.552M $10.53M
YoY Change 965.76% -114.74% -188.82%
Interest Expense $7.100M $9.885M $8.650M
YoY Change -517.65% 14.28% 36.76%
% of Operating Profit 82.14%
Other Income/Expense, Net -$17.90M $5.632M -$1.287M
YoY Change 347.5% -537.61% -325.79%
Pretax Income -$108.0M -$4.844M $2.167M
YoY Change 629.73% -323.53% -112.62%
Income Tax -$44.70M $61.14M $3.935M
% Of Pretax Income 181.59%
Net Earnings -$64.10M -$65.98M -$1.768M
YoY Change -136.92% 3631.84% -85.01%
Net Earnings / Revenue -12.95% -12.71% -0.37%
Basic Earnings Per Share -$0.67 -$0.02
Diluted Earnings Per Share -$650.8K -$0.67 -$0.02
COMMON SHARES
Basic Shares Outstanding 98.53M shares 98.53M shares 98.27M shares
Diluted Shares Outstanding 98.53M shares 98.27M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $364.4M $367.2M $472.4M
YoY Change -15.31% -22.27% 6.97%
Cash & Equivalents $354.3M $367.2M $472.4M
Short-Term Investments $10.20M
Other Short-Term Assets $71.04M $54.36M $50.06M
YoY Change 9.45% 8.59% -54.5%
Inventory $194.5M $189.1M $245.8M
Prepaid Expenses $60.86M
Receivables $368.9M $579.2M $464.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.245B $1.190B $1.233B
YoY Change 4.84% -3.48% -9.31%
LONG-TERM ASSETS
Property, Plant & Equipment $964.7M $993.5M $1.083B
YoY Change -9.35% -8.29% -7.17%
Goodwill $413.1M $500.2M $464.8M
YoY Change -9.32% 7.61% 3.68%
Intangibles $80.00M
YoY Change -6.21%
Long-Term Investments $39.33M
YoY Change -19.88%
Other Assets $202.3M $240.2M $363.8M
YoY Change -36.13% -33.98% 38.3%
Total Long-Term Assets $615.4M $1.734B $1.912B
YoY Change -66.49% -9.31% 1.79%
TOTAL ASSETS
Total Short-Term Assets $1.245B $1.190B $1.233B
Total Long-Term Assets $615.4M $1.734B $1.912B
Total Assets $2.825B $2.924B $3.145B
YoY Change -6.58% -7.03% -2.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.6M $111.8M $89.44M
YoY Change 19.99% 24.95% -6.15%
Accrued Expenses $306.9M $364.6M $372.0M
YoY Change -12.37% -2.01% -2.69%
Deferred Revenue $85.17M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $494.7M $476.3M $461.5M
YoY Change 13.53% 3.22% -7.91%
LONG-TERM LIABILITIES
Long-Term Debt $786.6M $782.2M $795.8M
YoY Change -0.72% -1.71% -0.8%
Other Long-Term Liabilities $128.4M $163.7M $387.5M
YoY Change -2.24% -57.75% 6.9%
Total Long-Term Liabilities $915.0M $945.9M $1.183B
YoY Change -0.94% -20.06% 1.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $494.7M $476.3M $461.5M
Total Long-Term Liabilities $915.0M $945.9M $1.183B
Total Liabilities $1.410B $1.422B $1.645B
YoY Change 3.7% -13.53% -1.26%
SHAREHOLDERS EQUITY
Retained Earnings $2.205B $2.269B $2.244B
YoY Change -8.81% 1.11% -3.32%
Common Stock $248.1M $245.3M $252.3M
YoY Change -1.86% -2.75% 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $704.1M $704.4M $719.1M
YoY Change -2.07% -2.04% -1.69%
Treasury Stock Shares 12.29M shares 12.30M shares 12.56M shares
Shareholders Equity $1.409B $1.496B $1.495B
YoY Change
Total Liabilities & Shareholders Equity $2.825B $2.924B $3.145B
YoY Change -6.58% -7.03% -2.87%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$64.10M -$65.98M -$1.768M
YoY Change -136.92% 3631.84% -85.01%
Depreciation, Depletion And Amortization $128.9M $50.70M $53.50M
YoY Change 143.21% -5.23% -27.9%
Cash From Operating Activities $900.0K $20.00M $41.40M
YoY Change -112.0% -51.69% -64.31%
INVESTING ACTIVITIES
Capital Expenditures -$25.60M -$30.40M -$18.60M
YoY Change -24.26% 63.44% -39.02%
Acquisitions -$12.40M
YoY Change
Other Investing Activities $9.100M $42.70M -$19.90M
YoY Change 1720.0% -314.57% 105.15%
Cash From Investing Activities -$16.40M $12.40M -$38.50M
YoY Change -50.6% -132.21% -4.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K 100.0K -14.50M
YoY Change 0.0% -100.69% -42.91%
NET CHANGE
Cash From Operating Activities 900.0K 20.00M 41.40M
Cash From Investing Activities -16.40M 12.40M -38.50M
Cash From Financing Activities 100.0K 100.0K -14.50M
Net Change In Cash -15.40M 32.50M -11.60M
YoY Change -62.07% -380.17% -123.02%
FREE CASH FLOW
Cash From Operating Activities $900.0K $20.00M $41.40M
Capital Expenditures -$25.60M -$30.40M -$18.60M
Free Cash Flow $26.50M $50.40M $60.00M
YoY Change 0.76% -16.0% -59.04%

Facts In Submission

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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Use of Estimates. </font><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires that our management make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates.</font></div></div>

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