$ONTO
ONTO INNOVATION INC.

2019 Q3 Form 10-Q Financial Statement

#000156459019041877 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $62.94M $60.43M
YoY Change 4.14% 6.63%
Cost Of Revenue $31.42M $33.00M
YoY Change -4.78% 7.14%
Gross Profit $31.51M $31.45M
YoY Change 0.18% -6.39%
Gross Profit Margin 50.07% 52.05%
Selling, General & Admin $16.20M $16.60M
YoY Change -2.41% 20.29%
% of Gross Profit 51.41% 52.78%
Research & Development $13.80M $12.70M
YoY Change 8.66% 39.56%
% of Gross Profit 43.79% 40.38%
Depreciation & Amortization $2.600M $1.600M
YoY Change 62.5% 0.0%
% of Gross Profit 8.25% 5.09%
Operating Expenses $26.22M $29.30M
YoY Change -10.51% 26.42%
Operating Profit $5.290M $14.27M
YoY Change -62.93% 90.69%
Interest Expense $1.001M $108.0K
YoY Change 826.85% 332.0%
% of Operating Profit 18.92% 0.76%
Other Income/Expense, Net $617.0K $218.0K
YoY Change 183.03% 505.56%
Pretax Income $6.908M $8.368M
YoY Change -17.45% 11.28%
Income Tax $348.0K $2.921M
% Of Pretax Income 5.04% 34.91%
Net Earnings $6.560M $7.187M
YoY Change -8.72% 24.69%
Net Earnings / Revenue 10.42% 11.89%
Basic Earnings Per Share $0.26 $0.28
Diluted Earnings Per Share $0.26 $0.28
COMMON SHARES
Basic Shares Outstanding 25.08M 25.66M
Diluted Shares Outstanding 25.31M 26.06M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.1M $172.9M
YoY Change -16.68% 27.44%
Cash & Equivalents $139.7M $96.10M
Short-Term Investments $93.10M $76.84M
Other Short-Term Assets $7.400M $7.100M
YoY Change 4.23% -20.22%
Inventory $69.69M $60.70M
Prepaid Expenses
Receivables $57.00M $50.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $278.3M $291.1M
YoY Change -4.4% 20.24%
LONG-TERM ASSETS
Property, Plant & Equipment $52.45M $43.10M
YoY Change 21.69% 2.62%
Goodwill $26.30M
YoY Change
Intangibles $25.08M
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.100M $7.500M
YoY Change -45.33% -58.79%
Total Long-Term Assets $117.9M $65.40M
YoY Change 80.28% -6.97%
TOTAL ASSETS
Total Short-Term Assets $278.3M $291.1M
Total Long-Term Assets $117.9M $65.40M
Total Assets $396.2M $356.5M
YoY Change 11.14% 14.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.50M $20.90M
YoY Change -16.27% 40.27%
Accrued Expenses $21.70M $20.90M
YoY Change 3.83% 30.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $49.80M $59.10M
YoY Change -15.74% 30.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.50M $3.100M
YoY Change 238.71% 55.0%
Total Long-Term Liabilities $10.50M $3.100M
YoY Change 238.71% 55.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.80M $59.10M
Total Long-Term Liabilities $10.50M $3.100M
Total Liabilities $60.50M $62.40M
YoY Change -3.04% 31.92%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $385.5M $294.1M
YoY Change
Total Liabilities & Shareholders Equity $396.2M $356.5M
YoY Change 11.14% 14.12%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $6.560M $7.187M
YoY Change -8.72% 24.69%
Depreciation, Depletion And Amortization $2.600M $1.600M
YoY Change 62.5% 0.0%
Cash From Operating Activities $1.200M $24.40M
YoY Change -95.08% 238.89%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M -$1.100M
YoY Change 45.45% -26.67%
Acquisitions
YoY Change
Other Investing Activities -$42.10M -$14.10M
YoY Change 198.58% 31.78%
Cash From Investing Activities -$43.70M -$15.40M
YoY Change 183.77% 26.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.0K 700.0K
YoY Change -128.57%
NET CHANGE
Cash From Operating Activities 1.200M 24.40M
Cash From Investing Activities -43.70M -15.40M
Cash From Financing Activities -200.0K 700.0K
Net Change In Cash -42.70M 9.700M
YoY Change -540.21% -294.0%
FREE CASH FLOW
Cash From Operating Activities $1.200M $24.40M
Capital Expenditures -$1.600M -$1.100M
Free Cash Flow $2.800M $25.50M
YoY Change -89.02% 193.1%

Facts In Submission

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OtherAccruedLiabilitiesCurrent
1528000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1181000
CY2019Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8702000
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
9421000
CY2019Q3 us-gaap Goodwill
Goodwill
26300000
CY2018Q4 us-gaap Goodwill
Goodwill
26400000
us-gaap Finite Lived Intangible Assets Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
107000
onto Finite Lived Intangible Assets Accumulated Amortization Foreign Currency Translation Adjustment
FiniteLivedIntangibleAssetsAccumulatedAmortizationForeignCurrencyTranslationAdjustment
107000
onto Reclassification Of In Process Research And Development To Developed Technology
ReclassificationOfInProcessResearchAndDevelopmentToDevelopedTechnology
500000
CY2019Q3 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
45492000
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
20414000
CY2019Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
25078000
CY2018Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
45385000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18059000
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27326000
CY2019Q3 onto Amortization Expense Finite Lived Intangible Assets
AmortizationExpenseFiniteLivedIntangibleAssets
700000
onto Amortization Expense Finite Lived Intangible Assets
AmortizationExpenseFiniteLivedIntangibleAssets
2200000
CY2018Q3 onto Amortization Expense Finite Lived Intangible Assets
AmortizationExpenseFiniteLivedIntangibleAssets
35000
onto Amortization Expense Finite Lived Intangible Assets
AmortizationExpenseFiniteLivedIntangibleAssets
105000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
643000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2960000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2960000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2960000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2960000
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
11695000
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24178000
us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
900000
onto Product Warranty Period
ProductWarrantyPeriod
P12M
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4379000
CY2017Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4863000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3068000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3915000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3054000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4520000
CY2019Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4393000
CY2018Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4258000
CY2019Q3 onto Intellectual Property Indemnification Obligations
IntellectualPropertyIndemnificationObligations
0
CY2018Q4 onto Intellectual Property Indemnification Obligations
IntellectualPropertyIndemnificationObligations
0
us-gaap Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
5
us-gaap Loss Contingency Number Of Defendants
LossContingencyNumberOfDefendants
1
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24529000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24059000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24631000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24065000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
321000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24466000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
486000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24783000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24952000
CY2018Q4 onto Share Based Compensation Arrangements By Share Based Payment Award Options Share Closing Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsShareClosingPrice
27.65
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24551000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
83394
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.80
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
988000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
71365
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
15.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
25
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.95
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12004
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.27
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
198000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
12004
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.27
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
198000
CY2019Q3 onto Share Based Compensation Arrangements By Share Based Payment Award Options Share Closing Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsShareClosingPrice
32.38
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3399000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3212000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9713000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8229000
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1943000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2921000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3106000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10258000
CY2019Q3 us-gaap Increase In Unrecognized Tax Benefits Is Reasonably Possible
IncreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
1200000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73125000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
76590000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
207845000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
247507000
CY2019Q3 us-gaap Noncurrent Assets
NoncurrentAssets
52449000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
47900000

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