2016 Q1 Form 10-Q Financial Statement

#000157987716000228 Filed on May 06, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $348.4M $398.5M $343.9M
YoY Change 1.31% 0.89% 19.45%
Cost Of Revenue $199.8M $218.6M $198.8M
YoY Change 0.5% 2.05% 21.59%
Gross Profit $148.6M $179.9M $145.1M
YoY Change 2.41% -0.5% 16.64%
Gross Profit Margin 42.65% 45.14% 42.19%
Selling, General & Admin $65.30M $65.80M $61.70M
YoY Change 5.83% 4.11% 21.94%
% of Gross Profit 43.94% 36.58% 42.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.10M $28.60M $28.70M
YoY Change 1.39% 2.51% 9.96%
% of Gross Profit 19.58% 15.9% 19.78%
Operating Expenses $65.30M $123.7M $61.70M
YoY Change 5.83% 4.12% 21.94%
Operating Profit $24.20M -$47.50M $26.60M
YoY Change -9.02% -194.06% -0.37%
Interest Expense -$28.60M -$132.8M $27.80M
YoY Change -202.88% 382.91% 122.4%
% of Operating Profit -118.18% 104.51%
Other Income/Expense, Net -$200.0K $0.00 $100.0K
YoY Change -300.0% -100.0% -120.0%
Pretax Income -$4.600M -$76.70M -$1.100M
YoY Change 318.18% -430.6% -108.03%
Income Tax -$1.300M -$1.600M -$1.400M
% Of Pretax Income
Net Earnings -$2.300M -$73.90M $1.100M
YoY Change -309.09% -365.83% -86.9%
Net Earnings / Revenue -0.66% -18.54% 0.32%
Basic Earnings Per Share -$0.02 $0.01
Diluted Earnings Per Share -$0.02 -$538.2K $0.01
COMMON SHARES
Basic Shares Outstanding 137.6M shares 137.6M shares 136.9M shares
Diluted Shares Outstanding 137.6M shares 137.6M shares

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.20M $101.6M $56.00M
YoY Change -22.86% 256.49% -50.83%
Cash & Equivalents $43.20M $101.6M $56.00M
Short-Term Investments
Other Short-Term Assets $15.80M $12.50M $14.90M
YoY Change 6.04% -1.57% 29.57%
Inventory
Prepaid Expenses
Receivables $189.0M $209.5M $201.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $360.5M $412.2M $425.9M
YoY Change -15.36% 16.01% -2.72%
LONG-TERM ASSETS
Property, Plant & Equipment $691.7M $701.7M $770.4M
YoY Change -10.22% -10.37% 5.02%
Goodwill $2.102B $2.075B $2.146B
YoY Change -2.06% -3.69% 15.19%
Intangibles
YoY Change
Long-Term Investments $22.80M $21.30M $24.20M
YoY Change -5.79% -21.11% 8.04%
Other Assets $59.30M $56.40M $94.30M
YoY Change -37.12% -42.45% 26.92%
Total Long-Term Assets $3.439B $3.403B $3.631B
YoY Change -5.3% -6.4% 20.22%
TOTAL ASSETS
Total Short-Term Assets $360.5M $412.2M $425.9M
Total Long-Term Assets $3.439B $3.403B $3.631B
Total Assets $3.799B $3.816B $4.057B
YoY Change -6.36% -4.41% 17.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.80M $83.60M $69.00M
YoY Change -7.54% 11.17% 16.55%
Accrued Expenses $126.9M $123.0M $122.7M
YoY Change 3.42% -8.48% 14.78%
Deferred Revenue
YoY Change
Short-Term Debt $35.30M $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $292.1M $265.6M $249.3M
YoY Change 17.17% 4.08% 26.16%
LONG-TERM LIABILITIES
Long-Term Debt $2.223B $2.222B $2.302B
YoY Change -3.42% 1.08% 43.86%
Other Long-Term Liabilities $69.30M $71.20M $67.20M
YoY Change 3.13% 0.56% 1.97%
Total Long-Term Liabilities $2.292B $2.293B $2.369B
YoY Change -3.24% 1.06% 42.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $292.1M $265.6M $249.3M
Total Long-Term Liabilities $2.292B $2.293B $2.369B
Total Liabilities $2.629B $2.603B $2.669B
YoY Change -1.5% 0.96% 22.84%
SHAREHOLDERS EQUITY
Retained Earnings -$651.3M -$602.2M -$430.8M
YoY Change 51.18% 59.73% -6001.37%
Common Stock $1.400M $1.400M $1.400M
YoY Change 0.0% 0.0% 40.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.170B $1.213B $1.388B
YoY Change
Total Liabilities & Shareholders Equity $3.799B $3.816B $4.057B
YoY Change -6.36% -5.17% 17.31%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income -$2.300M -$73.90M $1.100M
YoY Change -309.09% -365.83% -86.9%
Depreciation, Depletion And Amortization $29.10M $28.60M $28.70M
YoY Change 1.39% 2.51% 9.96%
Cash From Operating Activities $33.80M $116.7M $5.800M
YoY Change 482.76% 49.04% -25.64%
INVESTING ACTIVITIES
Capital Expenditures $14.40M -$17.20M $13.10M
YoY Change 9.92% -97.73% -16.56%
Acquisitions $60.50M $9.900M
YoY Change 511.11%
Other Investing Activities $300.0K $100.0K $700.0K
YoY Change -57.14% -112.5% 40.0%
Cash From Investing Activities -$74.60M -$17.10M -$22.30M
YoY Change 234.53% -97.74% 46.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.80M -97.80M 45.30M
YoY Change -139.29% -122.42% -50.76%
NET CHANGE
Cash From Operating Activities 33.80M 116.7M 5.800M
Cash From Investing Activities -74.60M -17.10M -22.30M
Cash From Financing Activities -17.80M -97.80M 45.30M
Net Change In Cash -58.60M 1.800M 28.80M
YoY Change -303.47% -100.74% -65.96%
FREE CASH FLOW
Cash From Operating Activities $33.80M $116.7M $5.800M
Capital Expenditures $14.40M -$17.20M $13.10M
Free Cash Flow $19.40M $133.9M -$7.300M
YoY Change -365.75% -83.96% -7.59%

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CY2015Q1 us-gaap Income Loss From Equity Method Investments
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CY2016Q1 us-gaap Income Loss From Equity Method Investments
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1000000 USD
CY2015Q1 us-gaap Income Tax Expense Benefit
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1300000 USD
CY2016Q1 us-gaap Income Taxes Paid Net
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57500000 USD
CY2016Q1 us-gaap Increase Decrease In Other Operating Capital Net
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29100000 USD
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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700000 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2015Q1 us-gaap Interest Paid
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CY2016Q1 us-gaap Interest Paid
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19500000 USD
CY2015Q4 us-gaap Liabilities
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CY2016Q1 us-gaap Liabilities
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2629100000 USD
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3815500000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
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CY2015Q4 us-gaap Liabilities Current
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CY2015Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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25000000 USD
CY2016Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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21500000 USD
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2222000000 USD
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1700000 USD
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CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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5800000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
33800000 USD
CY2015Q1 us-gaap Net Income Loss
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1100000 USD
CY2016Q1 us-gaap Net Income Loss
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CY2016Q1 us-gaap Number Of Reportable Segments
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2 segment
CY2015Q1 us-gaap Operating Income Loss
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26600000 USD
CY2016Q1 us-gaap Operating Income Loss
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24200000 USD
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CY2016Q1 us-gaap Other Accrued Liabilities Current
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50500000 USD
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6000000 USD
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300000 USD
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2200000 USD
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400000 USD
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3000000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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5100000 USD
CY2015Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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9900000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
60500000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
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13100000 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
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14400000 USD
CY2016Q1 us-gaap Pension Contributions
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500000 USD
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2016Q1 us-gaap Preferred Stock Shares Authorized
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50000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
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0 shares
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PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
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101100000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
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128300000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
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103800000 USD
CY2016Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0 USD
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CY2016Q1 us-gaap Proceeds From Long Term Lines Of Credit
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35000000 USD
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-400000 USD
CY2016Q1 us-gaap Proceeds From Payments For Other Financing Activities
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-200000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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700000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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300000 USD
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2000000 USD
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
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CY2016Q1 us-gaap Property Plant And Equipment Gross
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CY2015Q1 us-gaap Provision For Doubtful Accounts
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800000 USD
CY2016Q1 us-gaap Provision For Doubtful Accounts
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800000 USD
CY2015Q1 us-gaap Repayments Of Long Term Lines Of Credit
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105000000 USD
CY2016Q1 us-gaap Repayments Of Long Term Lines Of Credit
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0 USD
CY2015Q1 us-gaap Restructuring Charges
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600000 USD
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0 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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-651300000 USD
CY2015Q1 us-gaap Revenues
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343900000 USD
CY2016Q1 us-gaap Revenues
Revenues
348400000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
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61700000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
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65300000 USD
CY2015Q1 us-gaap Share Based Compensation
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3600000 USD
CY2016Q1 us-gaap Share Based Compensation
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4800000 USD
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0 USD
CY2016Q1 us-gaap Short Term Borrowings
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35300000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Purchase Of Assets
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6400000 USD
CY2015Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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2000000 USD
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CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1388000000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1212600000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2015Q4 us-gaap Unamortized Debt Issuance Expense
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CY2016Q1 us-gaap Unamortized Debt Issuance Expense
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CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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137600000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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137600000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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136900000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
137600000 shares
CY2016Q1 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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