2015 Q2 Form 10-Q Financial Statement

#000157987715000107 Filed on August 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $384.7M $334.4M
YoY Change 15.04% 0.51%
Cost Of Revenue $206.4M $171.6M
YoY Change 20.28% 0.12%
Gross Profit $178.3M $162.8M
YoY Change 9.52% 0.93%
Gross Profit Margin 46.35% 48.68%
Selling, General & Admin $63.60M $55.40M
YoY Change 14.8% 11.24%
% of Gross Profit 35.67% 34.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.00M $26.50M
YoY Change 5.66% 2.32%
% of Gross Profit 15.7% 16.28%
Operating Expenses $63.60M $55.40M
YoY Change 14.8% 11.24%
Operating Profit $54.60M $58.30M
YoY Change -6.35% -7.17%
Interest Expense -$28.90M $18.50M
YoY Change -256.22%
% of Operating Profit -52.93% 31.73%
Other Income/Expense, Net -$100.0K $0.00
YoY Change -100.0%
Pretax Income $25.60M $39.80M
YoY Change -35.68% -36.52%
Income Tax $4.500M $17.60M
% Of Pretax Income 17.58% 44.22%
Net Earnings $22.20M $22.40M
YoY Change -0.89% -38.46%
Net Earnings / Revenue 5.77% 6.7%
Basic Earnings Per Share $0.16 $0.19
Diluted Earnings Per Share $0.16 $0.19
COMMON SHARES
Basic Shares Outstanding 137.4M shares 119.7M shares
Diluted Shares Outstanding 137.8M shares 119.9M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.40M $223.4M
YoY Change -69.38% 1127.47%
Cash & Equivalents $68.40M $223.4M
Short-Term Investments
Other Short-Term Assets $14.30M $14.10M
YoY Change 1.42% -90.72%
Inventory
Prepaid Expenses
Receivables $224.4M $169.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $439.2M $550.5M
YoY Change -20.22% 60.17%
LONG-TERM ASSETS
Property, Plant & Equipment $747.8M $721.3M
YoY Change 3.67% -6.04%
Goodwill $2.144B $1.865B
YoY Change 14.97%
Intangibles
YoY Change
Long-Term Investments $23.60M $22.00M
YoY Change 7.27%
Other Assets $91.50M $72.20M
YoY Change 26.73% 67.91%
Total Long-Term Assets $3.590B $2.994B
YoY Change 19.93% -2.76%
TOTAL ASSETS
Total Short-Term Assets $439.2M $550.5M
Total Long-Term Assets $3.590B $2.994B
Total Assets $4.029B $3.544B
YoY Change 13.69% 3.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.00M $60.40M
YoY Change 9.27% -6.93%
Accrued Expenses $113.0M $109.9M
YoY Change 2.82% 13.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $236.3M $203.1M
YoY Change 16.35% 9.84%
LONG-TERM LIABILITIES
Long-Term Debt $2.302B $1.598B
YoY Change 44.03%
Other Long-Term Liabilities $69.20M $65.60M
YoY Change 5.49% -36.12%
Total Long-Term Liabilities $2.371B $1.664B
YoY Change 42.51% 1519.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $236.3M $203.1M
Total Long-Term Liabilities $2.371B $1.664B
Total Liabilities $2.659B $2.175B
YoY Change 22.26% 269.76%
SHAREHOLDERS EQUITY
Retained Earnings -$455.3M -$15.20M
YoY Change 2895.39%
Common Stock $1.400M $1.200M
YoY Change 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.370B $1.369B
YoY Change
Total Liabilities & Shareholders Equity $4.029B $3.544B
YoY Change 13.69% 3.56%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $22.20M $22.40M
YoY Change -0.89% -38.46%
Depreciation, Depletion And Amortization $28.00M $26.50M
YoY Change 5.66% 2.32%
Cash From Operating Activities $68.30M $67.20M
YoY Change 1.64% 12.0%
INVESTING ACTIVITIES
Capital Expenditures -$14.90M $10.90M
YoY Change -236.7% 22.47%
Acquisitions
YoY Change
Other Investing Activities $8.100M $0.00
YoY Change
Cash From Investing Activities -$6.800M -$13.60M
YoY Change -50.0% 27.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -49.20M 55.60M
YoY Change -188.49% -204.51%
NET CHANGE
Cash From Operating Activities 68.30M 67.20M
Cash From Investing Activities -6.800M -13.60M
Cash From Financing Activities -49.20M 55.60M
Net Change In Cash 12.30M 109.2M
YoY Change -88.74% -2900.0%
FREE CASH FLOW
Cash From Operating Activities $68.30M $67.20M
Capital Expenditures -$14.90M $10.90M
Free Cash Flow $83.20M $56.30M
YoY Change 47.78% 10.18%

Facts In Submission

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us-gaap Interest Paid
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CY2014Q2 us-gaap Management Fees Revenue
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us-gaap Management Fees Revenue
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us-gaap Management Fees Revenue
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22400000 USD
us-gaap Number Of Reportable Segments
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2 segment
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58300000 USD
us-gaap Operating Income Loss
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14300000 USD
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0 USD
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3300000 USD
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5100000 USD
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2200000 USD
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3300000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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5300000 USD
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3300000 USD
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44400000 USD
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27700000 USD
us-gaap Pension Contributions
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1600000 USD
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CY2015Q2 us-gaap Preferred Stock Shares Authorized
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CY2015Q2 us-gaap Preferred Stock Shares Issued
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0 shares
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0 shares
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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109300000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
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146400000 USD
us-gaap Proceeds From Issuance Initial Public Offering
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615000000 USD
us-gaap Proceeds From Issuance Initial Public Offering
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0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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1598000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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0 USD
us-gaap Proceeds From Issuance Of Other Long Term Debt
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0 USD
us-gaap Proceeds From Issuance Of Other Long Term Debt
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103800000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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0 USD
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105000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2014Q4 us-gaap Property Plant And Equipment Gross
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us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
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1800000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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us-gaap Repayments Of Long Term Lines Of Credit
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CY2014Q2 us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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CY2014 us-gaap Restructuring Charges
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us-gaap Restructuring Charges
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CY2015Q2 us-gaap Restructuring Reserve
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CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q2 us-gaap Revenues
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us-gaap Revenues
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CY2014Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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106000000 USD
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63600000 USD
us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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108600000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
137800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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137600000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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137400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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137100000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of our financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates, judgments 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 amount of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. </font></div></div>

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