2016 Q4 Form 10-Q Financial Statement

#000139681416000028 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $72.90M $68.36M $62.21M
YoY Change 5.17% 9.87% 19.53%
Cost Of Revenue $23.62M $43.15M $15.90M
YoY Change 21.59% 171.38% -22.02%
Gross Profit $49.28M $25.20M $46.31M
YoY Change -1.23% -45.58% 46.29%
Gross Profit Margin 67.6% 36.87% 74.44%
Selling, General & Admin $34.70M $36.31M $35.31M
YoY Change -7.71% 2.84% 25.14%
% of Gross Profit 70.41% 144.09% 76.24%
Research & Development $17.10M $9.754M $5.893M
YoY Change 29.55% 65.52% 33.18%
% of Gross Profit 34.7% 38.7% 12.72%
Depreciation & Amortization $3.260M $3.300M $2.800M
YoY Change 4.49% 17.86% 21.74%
% of Gross Profit 6.62% 13.09% 6.05%
Operating Expenses $75.36M $89.22M $57.10M
YoY Change 7.46% 56.24% 7.68%
Operating Profit -$26.08M -$20.87M $5.109M
YoY Change 28.86% -508.4% -618.68%
Interest Expense -$1.500M $1.601M $1.905M
YoY Change -11.76% -15.96% -6.48%
% of Operating Profit 37.29%
Other Income/Expense, Net -$100.0K -$1.263M -$1.742M
YoY Change 0.0% -27.5% -13.72%
Pretax Income -$4.000M -$22.13M $3.367M
YoY Change 53.85% -757.2% -212.08%
Income Tax $0.00 $36.00K $281.0K
% Of Pretax Income 8.35%
Net Earnings -$3.973M -$22.16M $3.086M
YoY Change 59.05% -818.21% -202.73%
Net Earnings / Revenue -5.45% -32.42% 4.96%
Basic Earnings Per Share -$0.59 $0.08
Diluted Earnings Per Share -$107.0K -$0.59 $0.08
COMMON SHARES
Basic Shares Outstanding 37.40M shares 37.31M shares 36.66M shares
Diluted Shares Outstanding 37.31M shares 41.04M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.6M $161.1M $146.4M
YoY Change 8.55% 10.04% -2.2%
Cash & Equivalents $35.94M $24.44M $30.52M
Short-Term Investments $136.7M $136.7M $115.9M
Other Short-Term Assets $9.300M $10.10M $4.600M
YoY Change 52.46% 119.57% -13.21%
Inventory $31.28M $37.48M $56.13M
Prepaid Expenses
Receivables $29.94M $26.77M $25.92M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $243.1M $235.4M $233.1M
YoY Change -3.76% 1.01% 16.99%
LONG-TERM ASSETS
Property, Plant & Equipment $101.0M $100.4M $86.32M
YoY Change 11.84% 16.29% 53.74%
Goodwill $46.74M $44.67M $28.89M
YoY Change 51.35% 54.63% 31.02%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $17.90M
YoY Change -100.0% -100.0% -26.94%
Other Assets $624.0K $651.0K $2.595M
YoY Change 53.69% -74.91% -11.97%
Total Long-Term Assets $148.4M $145.7M $135.9M
YoY Change 9.78% 7.23% 28.01%
TOTAL ASSETS
Total Short-Term Assets $243.1M $235.4M $233.1M
Total Long-Term Assets $148.4M $145.7M $135.9M
Total Assets $391.5M $381.2M $369.0M
YoY Change 0.96% 3.3% 20.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.511M $7.287M $8.471M
YoY Change -14.05% -13.98% 9.35%
Accrued Expenses $36.67M $31.08M $30.30M
YoY Change 3.65% 2.58% 29.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $107.6M $104.9M
YoY Change -100.0% 2.57% 2.74%
Long-Term Debt Due $118.5M $0.00
YoY Change 0.0% -100.0%
Total Short-Term Liabilities $44.84M $146.8M $145.4M
YoY Change -70.07% 0.98% 7.53%
LONG-TERM LIABILITIES
Long-Term Debt $108.7M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.91M $12.56M $6.125M
YoY Change 64.86% 105.01% 17.0%
Total Long-Term Liabilities $18.91M $12.56M $6.125M
YoY Change 64.86% 105.01% 17.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.84M $146.8M $145.4M
Total Long-Term Liabilities $18.91M $12.56M $6.125M
Total Liabilities $172.5M $167.0M $160.0M
YoY Change 1.86% 4.39% 6.42%
SHAREHOLDERS EQUITY
Retained Earnings -$346.2M -$342.3M -$305.8M
YoY Change 12.31% 11.93% -3.21%
Common Stock $37.00K $37.00K $37.00K
YoY Change 0.0% 0.0% 2.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares 0.000 shares
Shareholders Equity $219.0M $214.1M $209.0M
YoY Change
Total Liabilities & Shareholders Equity $391.5M $381.2M $369.0M
YoY Change 0.96% 3.3% 20.82%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$3.973M -$22.16M $3.086M
YoY Change 59.05% -818.21% -202.73%
Depreciation, Depletion And Amortization $3.260M $3.300M $2.800M
YoY Change 4.49% 17.86% 21.74%
Cash From Operating Activities $17.35M $11.68M $2.820M
YoY Change 8.03% 314.18% -68.6%
INVESTING ACTIVITIES
Capital Expenditures -$4.880M -$3.910M -$9.610M
YoY Change -40.12% -59.31% 94.14%
Acquisitions
YoY Change
Other Investing Activities -$2.040M -$9.410M $2.760M
YoY Change -112.45% -440.94% -102.85%
Cash From Investing Activities -$6.910M -$13.32M -$6.840M
YoY Change -183.96% 94.74% -93.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.070M 770.0K 1.830M
YoY Change -50.69% -57.92% -23.11%
NET CHANGE
Cash From Operating Activities 17.35M 11.68M 2.820M
Cash From Investing Activities -6.910M -13.32M -6.840M
Cash From Financing Activities 1.070M 770.0K 1.830M
Net Change In Cash 11.51M -870.0K -2.190M
YoY Change -56.5% -60.27% -97.58%
FREE CASH FLOW
Cash From Operating Activities $17.35M $11.68M $2.820M
Capital Expenditures -$4.880M -$3.910M -$9.610M
Free Cash Flow $22.23M $15.59M $12.43M
YoY Change -8.18% 25.42% -10.77%

Facts In Submission

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0 USD
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0 USD
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0 USD
CY2015Q4 us-gaap Goodwill
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30880000 USD
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253000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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1100000 USD
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990000 USD
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1184000 USD
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4202000 USD
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0 USD
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
6000 shares
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IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
3256000 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
1000 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
CY2015Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1530000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1698000 shares
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2015Q3 us-gaap Interest Costs Capitalized
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200000 USD
us-gaap Interest Costs Capitalized
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600000 USD
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500000 USD
us-gaap Interest Costs Capitalized
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1200000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
1905000 USD
us-gaap Interest Expense
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5842000 USD
CY2016Q3 us-gaap Interest Expense
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1601000 USD
us-gaap Interest Expense
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5203000 USD
us-gaap Interest Paid
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4224000 USD
us-gaap Interest Paid
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3852000 USD
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1200000 USD
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32781000 USD
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16712000 USD
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InventoryRawMaterialsNetOfReserves
13291000 USD
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InventoryValuationReserves
20700000 USD
CY2015Q4 us-gaap Inventory Work In Process Net Of Reserves
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12152000 USD
CY2016Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
11441000 USD
CY2016Q3 us-gaap Inventory Write Down
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21300000 USD
us-gaap Inventory Write Down
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21900000 USD
CY2015Q3 us-gaap Investment Income Interest
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171000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
504000 USD
CY2016Q3 us-gaap Investment Income Interest
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346000 USD
us-gaap Investment Income Interest
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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us-gaap Net Cash Provided By Used In Continuing Operations
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us-gaap Net Cash Provided By Used In Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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6191000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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11027000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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16104000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
3086000 USD
us-gaap Net Income Loss
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4354000 USD
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NetIncomeLoss
-22164000 USD
us-gaap Net Income Loss
NetIncomeLoss
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NonoperatingIncomeExpense
-1742000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5542000 USD
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NonoperatingIncomeExpense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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OperatingExpenses
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us-gaap Operating Expenses
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169408000 USD
CY2016Q3 us-gaap Operating Expenses
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89220000 USD
us-gaap Operating Expenses
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233032000 USD
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OperatingIncomeLoss
5109000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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41358000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
6420000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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8303000 USD
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8081000 USD
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OperatingLeasesFutureMinimumPaymentsDueInTwoYears
7878000 USD
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OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1945000 USD
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406000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
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651000 USD
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
51000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
24000 USD
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
51000 USD
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
24000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
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11473000 USD
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12557000 USD
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OtherNonoperatingIncomeExpense
-8000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
-8000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments To Acquire Property Plant And Equipment
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31212000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19827000 USD
us-gaap Payments To Acquire Short Term Investments
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125197000 USD
us-gaap Payments To Acquire Short Term Investments
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158390000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
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6117000 USD
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10075000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
134984000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
137170000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8798000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5200000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
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115241000 USD
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PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentNet
90324000 USD
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PropertyPlantAndEquipmentNet
100388000 USD
us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
300000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5893000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15509000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9754000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28609000 USD
CY2015Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
1257000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
1626000 USD
CY2016Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
1425000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
3650000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2015Q3 us-gaap Revenues
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62213000 USD
us-gaap Revenues
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179676000 USD
CY2016Q3 us-gaap Revenues
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68355000 USD
us-gaap Revenues
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203469000 USD
CY2015Q3 us-gaap Royalty Expense
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0 USD
us-gaap Royalty Expense
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71000 USD
CY2016Q3 us-gaap Royalty Expense
RoyaltyExpense
0 USD
us-gaap Royalty Expense
RoyaltyExpense
0 USD
CY2015Q3 us-gaap Royalty Revenue
RoyaltyRevenue
706000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
2310000 USD
CY2016Q3 us-gaap Royalty Revenue
RoyaltyRevenue
879000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
2091000 USD
CY2015Q3 us-gaap Sales Revenue Goods Net
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61150000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
176297000 USD
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
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us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
198309000 USD
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
101490000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
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117940000 USD
CY2015Q3 us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
23640000 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
7361000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23516000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
4000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
38.94
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.72
CY2016Q3 us-gaap Share Price
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34.22
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2015Q4 us-gaap Short Term Investments
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CY2016Q3 us-gaap Short Term Investments
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us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
35000 shares
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
34705 shares
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
995000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5200000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
218392000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
214148000 USD
CY2015Q4 us-gaap Taxes Payable Current
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208000 USD
CY2016Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
82000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41043000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41422000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37312000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37171000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36460000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37312000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37171000 shares

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