2018 Q1 Form 10-Q Financial Statement

#000139681418000014 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $74.61M $69.28M
YoY Change 7.68% 5.82%
Cost Of Revenue $22.89M $24.58M
YoY Change -6.9% 21.22%
Gross Profit $51.72M $44.70M
YoY Change 15.7% -1.09%
Gross Profit Margin 69.33% 64.52%
Selling, General & Admin $44.19M $42.12M
YoY Change 4.92% 10.97%
% of Gross Profit 85.44% 94.22%
Research & Development $14.38M $16.63M
YoY Change -13.55% 75.2%
% of Gross Profit 27.8% 37.21%
Depreciation & Amortization $2.762M $3.104M
YoY Change -11.02% -1.93%
% of Gross Profit 5.34% 6.94%
Operating Expenses $81.54M $83.33M
YoY Change -2.15% 23.04%
Operating Profit -$6.937M -$14.05M
YoY Change -50.63% 523.34%
Interest Expense $5.157M $2.589M
YoY Change 99.19% 38.6%
% of Operating Profit
Other Income/Expense, Net -$3.708M -$5.786M
YoY Change -35.91% 269.01%
Pretax Income -$10.65M -$19.84M
YoY Change -46.33% 419.0%
Income Tax $35.00K $30.00K
% Of Pretax Income
Net Earnings -$10.68M -$19.87M
YoY Change -46.24% 415.46%
Net Earnings / Revenue -14.32% -28.67%
Basic Earnings Per Share -$0.26 -$0.52
Diluted Earnings Per Share -$262.9K -$523.7K
COMMON SHARES
Basic Shares Outstanding 40.71M shares 38.00M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $339.8M $383.7M
YoY Change -11.44% 155.8%
Cash & Equivalents $41.56M $109.0M
Short-Term Investments $298.2M $274.7M
Other Short-Term Assets $7.700M $6.300M
YoY Change 22.22% -30.0%
Inventory $40.04M $30.31M
Prepaid Expenses
Receivables $31.20M $27.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $418.7M $448.0M
YoY Change -6.53% 80.18%
LONG-TERM ASSETS
Property, Plant & Equipment $109.2M $102.6M
YoY Change 6.49% 7.02%
Goodwill $57.49M $48.83M
YoY Change 17.74% 48.94%
Intangibles
YoY Change
Long-Term Investments $35.80M
YoY Change
Other Assets $759.0K $598.0K
YoY Change 26.92% 24.32%
Total Long-Term Assets $203.3M $152.0M
YoY Change 33.75% 6.6%
TOTAL ASSETS
Total Short-Term Assets $418.7M $448.0M
Total Long-Term Assets $203.3M $152.0M
Total Assets $622.0M $600.0M
YoY Change 3.68% 53.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.91M $9.373M
YoY Change 59.11% -10.6%
Accrued Expenses $33.02M $34.90M
YoY Change -5.4% 20.07%
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $0.00
YoY Change -100.0%
Long-Term Debt Due $800.0K
YoY Change
Total Short-Term Liabilities $48.37M $45.65M
YoY Change 5.96% -68.76%
LONG-TERM LIABILITIES
Long-Term Debt $279.7M $266.0M
YoY Change 5.15%
Other Long-Term Liabilities $15.46M $10.33M
YoY Change 49.66% -6.24%
Total Long-Term Liabilities $15.46M $10.33M
YoY Change 49.66% -6.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.37M $45.65M
Total Long-Term Liabilities $15.46M $10.33M
Total Liabilities $343.5M $329.3M
YoY Change 4.31% 99.55%
SHAREHOLDERS EQUITY
Retained Earnings -$398.5M -$366.4M
YoY Change 8.75% 17.38%
Common Stock $41.00K $40.00K
YoY Change 2.5% 8.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $278.5M $270.6M
YoY Change
Total Liabilities & Shareholders Equity $622.0M $600.0M
YoY Change 3.68% 53.36%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$10.68M -$19.87M
YoY Change -46.24% 415.46%
Depreciation, Depletion And Amortization $2.762M $3.104M
YoY Change -11.02% -1.93%
Cash From Operating Activities -$2.690M $10.00K
YoY Change -27000.0% -100.32%
INVESTING ACTIVITIES
Capital Expenditures $5.184M $3.616M
YoY Change 43.36% -48.73%
Acquisitions
YoY Change
Other Investing Activities -$5.110M -$140.2M
YoY Change -96.36% 846.15%
Cash From Investing Activities -$10.29M -$143.8M
YoY Change -92.85% 557.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $419.0K $216.9M
YoY Change -99.81% 7031.08%
NET CHANGE
Cash From Operating Activities -2.690M 10.00K
Cash From Investing Activities -10.29M -143.8M
Cash From Financing Activities $419.0K $216.9M
Net Change In Cash $419.0K $216.9M
YoY Change -99.81% 7031.08%
FREE CASH FLOW
Cash From Operating Activities -$2.690M $10.00K
Capital Expenditures $5.184M $3.616M
Free Cash Flow -$7.874M -$3.606M
YoY Change 118.36% -64.55%

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343516000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
628371000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
622037000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
56217000 USD
CY2018Q1 us-gaap Liabilities Current
LiabilitiesCurrent
48368000 USD
CY2017Q4 us-gaap Long Term Investments
LongTermInvestments
60047000 USD
CY2018Q1 us-gaap Long Term Investments
LongTermInvestments
21683000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
73026000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-12563000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
216856000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
6000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
419000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-143836000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-10293000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-2689000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-19866000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-10680000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5786000 USD
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3708000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
83333000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
81544000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-14050000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6937000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
51836000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
5366000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5245000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7604000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
8122000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
19577000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
5922000 USD
CY2018Q1 us-gaap Other Adjustments To Income Discontinued Operations
OtherAdjustmentsToIncomeDiscontinuedOperations
40000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
825000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
759000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-52000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-447000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-52000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-447000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16498000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
15463000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
10000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
75000 USD
CY2017Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
11000000 USD
CY2018Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2017Q4 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15000000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3616000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5184000 USD
CY2017Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
180342000 USD
CY2018Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
130580000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6694000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7700000 USD
CY2017Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
345000000 USD
CY2018Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
CY2017Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
42214000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
127764000 USD
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
852000 USD
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
419000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
156256000 USD
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
161197000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
107046000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
109225000 USD
CY2017Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
117712000 USD
CY2018Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2017Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16632000 USD
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14378000 USD
CY2017Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
1223000 USD
CY2018Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
1790000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-389136000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-398455000 USD
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68425000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
74287000 USD
CY2017Q1 us-gaap Revenues
Revenues
69283000 USD
CY2018Q1 us-gaap Revenues
Revenues
74607000 USD
CY2017Q1 us-gaap Royalty Revenue
RoyaltyRevenue
652000 USD
CY2018Q1 us-gaap Royalty Revenue
RoyaltyRevenue
320000 USD
CY2017Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
68425000 USD
CY2018Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
74287000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
42120000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
44191000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
7400000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8385000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
20.19
CY2018Q1 us-gaap Share Price
SharePrice
31.15
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
257221000 USD
CY2018Q1 us-gaap Short Term Investments
ShortTermInvestments
298225000 USD
CY2018Q1 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
0 shares
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
419000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
279483000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
278521000 USD
CY2017Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount
14000000 USD
CY2017Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount
14146000 USD
CY2018Q1 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
SummaryOfInvestmentsOtherThanInvestmentsInRelatedPartiesCarryingAmount
14146000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
76000 USD
CY2018Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
111000 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
37998000 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
40707000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37998000 shares

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